Common use of Beneficiary of Insurance Clause in Contracts

Beneficiary of Insurance. The insurance policies required by Section 6.01 hereof shall be for the benefit, as their interests shall appear, of the Trustee, the Authority, the Commission and other persons having an insurable interest in the insured property. Such policies shall clearly indicate that any proceeds under the policies relative to the property subject to the Lease shall be payable to the Trustee, and the Trustee is hereby authorized to demand, collect and receipt for and recover any and all insurance moneys which may become due and payable under any of said policies of insurance and to prosecute all necessary actions in the courts to recover any such insurance moneys. The Trustee may, however, accept any settlement or adjustment which the directors of the Authority may deem it advisable to make with the insurance companies.

Beneficiary of Insurance. The insurance policies required by Section 6.01 6.02 hereof shall be for the benefit, as their interests shall appear, of the Trustee, the Authority, the Commission and other persons having an insurable interest in the insured property. Such policies shall clearly indicate that any proceeds under the policies relative to the property subject to the Lease shall be payable to the Trustee, and the Trustee is hereby authorized to demand, collect and receipt for and recover any and all insurance moneys which may become due and payable under any of said policies of insurance and to prosecute all necessary actions in the courts to recover any such insurance moneys. The Trustee may, however, accept any settlement or adjustment which the directors members of the Authority may deem it advisable to make with the insurance companies.

Beneficiary of Insurance. The insurance policies required by Section 6.01 Sections 6.01(a) and 6.02 hereof shall be for the benefit, as their interests shall appear, of the Trustee, the AuthorityCorporation, the Commission and other persons having an insurable interest in the insured property. Such policies shall clearly indicate that any proceeds under the policies relative to the property subject to the Lease Premises shall be payable to the Trustee, and the Trustee is hereby authorized to demand, collect and receipt for and recover any and all insurance moneys which may become due and payable under any of said policies of insurance and to prosecute all necessary actions in the courts to recover any such insurance moneys. The Trustee may, however, accept any settlement or adjustment which the directors officers of the Authority Corporation may deem it advisable to make with the insurance companies.

Beneficiary of Insurance. The insurance policies required by Section Sections 6.01 hereof shall be for the benefit, as their interests shall appear, of the Trustee, the Authority, the Commission and other persons having an insurable interest in the insured property. Such policies shall clearly indicate that any proceeds under the policies relative to the property subject to the Lease Leased Premises shall be payable to the Trustee, and the Trustee is hereby authorized to demand, collect and receipt for and recover any and all insurance moneys which may become due and payable under any of said policies of insurance and to prosecute all necessary actions in the courts to recover any such insurance moneys. The Trustee may, however, accept any settlement or adjustment which the directors officers of the Authority may deem it advisable to make with the insurance companies.

Beneficiary of Insurance. The insurance policies required by Section 6.01 hereof shall be for the benefit, as their interests shall appear, of the Trustee, the Authority, the Commission and other persons having an insurable interest in the insured property. Such policies shall clearly indicate that any proceeds under the policies relative to each of the property subject to the Lease Leased Premises shall be payable to the Trustee, and the Trustee is hereby authorized to demand, collect and receipt for and recover any and all insurance moneys which may become due and payable under any of said policies of insurance and to prosecute all necessary actions in the courts to recover any such insurance moneys. The Trustee may, however, accept any settlement or adjustment which the directors officers of the Authority may deem it advisable to make with the insurance companies. Additionally, the Authority shall provide, or shall cause the Commission to provide, to the Trustee thirty (30) days prior written notice of termination or amendment of such policies.