Awards and Insurance Benefits. Mortgagor shall cooperate with Lender in obtaining for Lender the benefits of any condemnation awards or insurance proceeds lawfully or equitably payable in connection with the Property, and Lender shall be reimbursed for any expenses incurred in connection therewith out of such condemnation award or insurance proceeds. All Net Cash Proceeds received in connection with any casualty or condemnation relating to the Property shall be applied as set forth in the Credit Agreement.
Appears in 5 contracts
Samples: Secured Note Agreement (General Motors Co), Secured Note Agreement (General Motors Co), Secured Debtor in Possession Credit Agreement (Motors Liquidation Co)
