Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case Lender does not elect to apply or does not have the right to apply the Proceeds to the indebtedness, as provided in Section 16.1 above, Borrower shall:
Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case Agent does not elect to apply or does not have the right to apply the Proceeds to the indebtedness, as provided in Section 16.1 above, Borrower shall:
Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. If Lender does not elect to or is not entitled to apply fire or casualty insurance proceeds to the indebtedness, any and all insurance proceeds received by Borrower, including casualty or Business Income Coverage (as defined in Exhibit D attached hereto and made a part hereof) shall be delivered to Lender by Borrower in keeping with the terms of this Agreement and the other Loan Documents. Thereafter, all insurance proceeds received will be deposited into a third party escrow account controlled by Lender or its Mortgage Correspondent. Lender may also require that Borrower deposit any deficit between the business interruption or loss of rents proceeds received and the debt service due under the Loan Documents during the period of rebuilding or restoration of the Improvements. As provided under Section 5.1 of this Agreement, Lender shall have the right (but not the obligation) to settle, collect and retain such proceeds, and after deduction of all expenses of collection and settlement, including attorney and adjusters’ fees and expenses, to release the same to Borrower periodically provided that Borrower shall:
Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case the Administrative Agent does not elect to apply or does not have the right to apply the Proceeds to the Obligations, as provided in Section 14.1 above, Borrower shall:
Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. If Lender does not elect to or is not entitled to apply fire or casualty insurance proceeds to the indebtedness, all insurance proceeds received will be deposited into a third party escrow account controlled by Lender or its Mortgage Correspondent. Lender may also require that Borrower deposit any deficit between the business interruption or loss of rents proceeds received and the debt service due under the Loan Documents during the period of rebuilding or restoration of the Improvements. As provided under Section 5.1 of this Agreement, Lender shall have the right (but not the obligation) to settle, collect and retain such proceeds, and after deduction of all expenses of collection and settlement, including attorney and adjusters’ fees and expenses, to release the same to Borrower periodically provided that Borrower shall:
Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. If Lender does not elect to or is not entitled to apply fire or casualty insurance proceeds to the indebtedness, as provided under Section 5.1 of this Agreement, Lender shall have the right (but not the obligation) to settle, collect and retain such proceeds, and after deduction of all expenses of collection and settlement, including attorneys' and adjusters' fees and expenses, to release the same to Borrower periodically provided that Borrower shall:
Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case Agent and Required Lenders do not elect to apply or do not have the right to apply the Net Insurance/Condemnation Proceeds to the Obligations of Loan Parties under this Agreement or any of the other Loan Documents, as provided in Section 6.16(b) above, Borrower shall (or shall cause the applicable Subsidiary Guarantor or Operator to):
Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. 8.2 Notwithstanding anything to the contrary set forth in Section 8.1 above, after deduction of all expenses of collection and settlement, including reasonable attorneys' and adjusters' fees and expenses, the Lender shall release such proceeds in installments from time to time to the Borrower provided that:
Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case Lender does not elect to apply or does not have the right to apply the Proceeds to the indebtedness, as provided in Section 10.1 above, Borrower shall:
Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. If the Administrative Agent does not elect to or is not entitled to apply fire or casualty insurance proceeds to the Obligations, as provided under Section 13.1 of this Agreement, the Administrative Agent shall have the right (but not the obligation) to collect and retain, in an interest bearing account, all proceeds and after deduction of all expenses of collection and settlement, including attorneys' and adjusters' fees and expenses, to release the same with interest to the Borrower periodically provided that the Borrower shall:
