Common use of Borrower’s Obligation to Rebuild and Use of Proceeds Therefor Clause in Contracts

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 of Borrowers under this Agreement or any of the other Loan Documents, as provided in Section 11.1 above, Borrowers shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities and cause the Proceeds to be deposited with Lender; (b) In the event of any delay in making settlement with insurers or the appropriate governmental authorities or effecting collection of the Proceeds, deposit with Lender the full amount required to complete construction as aforesaid; and (c) Promptly proceed with construction of the Facility, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Lender may condition the disbursement of Proceeds and other funds deposited with Lender for the cost of restoration on Lender’s reasonable approval of the plans and specifications for the restoration, contractor’s cost estimates, architect’s certificates, waivers of liens, sworn statements of mechanics and materialmen, and such other evidence of costs, percentage completion of construction, application of payments and satisfaction of liens as Lender may reasonably require.

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 of Borrowers Borrower under this Agreement or any of the other Loan Documents, as provided in Section 11.1 12.1 above, Borrowers Borrower shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities and cause the Proceeds to be deposited with Lender; (b) In the event of any delay in making settlement with insurers or the appropriate governmental authorities or effecting collection of the Proceeds, deposit with Lender the full amount required to complete construction as aforesaid; and (c) In the event the Proceeds and the available proceeds of the Loan are insufficient to assure Lender that the Loan will be In Balance, promptly deposit with Lender any amount necessary to place the Loan In Balance; and (d) Promptly proceed with construction of the FacilityProperty, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Lender may condition the disbursement of Proceeds and other funds deposited with Lender for the cost of restoration on Lender’s reasonable approval of the plans and specifications for the restoration, contractor’s cost estimates, architect’s certificates, waivers of liens, sworn statements of mechanics and materialmen, and such other evidence of costs, percentage completion of construction, application of payments and satisfaction of liens as Lender may reasonably require.

Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case Lender does Agent and Required Lenders do not elect to apply or does do not have the right to apply the Net Insurance/Condemnation Proceeds to the indebtedness Obligations of Borrowers Loan Parties under this Agreement or any of the other Loan Documents, as provided in Section 11.1 6.17(b) above, Borrowers shall:Borrower shall (or shall cause the applicable Subsidiary Guarantor or Operator to): (ai) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities and cause the Net Insurance/Condemnation Proceeds to be deposited with LenderAgent; (bii) In the event of any delay in making settlement with insurers or the appropriate governmental authorities Governmental Authorities or effecting collection of the Net Insurance/Condemnation Proceeds, deposit with Lender Agent the full amount required to complete construction as aforesaidaforesaid (in which event, Borrower (or the applicable Subsidiary Guarantor) may retain the Net Insurance/Condemnation Proceeds upon receipt from the insurer or Governmental Authority); and (ciii) Promptly proceed with re-construction of the Facility, including the repair of all damage resulting from such fire, condemnation or other cause ca use and restoration to its former condition. Lender Agent may condition the disbursement of Net Insurance/Condemnation Proceeds and other funds deposited with Lender to Agent for the cost of restoration on LenderAgent’s reasonable approval of the plans and specifications for the restorationrestoration (which plans and specifications shall, inter alia, not conflict with any standards of any permanent financing provider), contractor’s cost estimates, architect’s certificates, waivers of liens, sworn statements of mechanics and materialmen, and such other evidence of costs, percentage completion of construction, disbursement and application of payments and satisfaction of liens as Lender Agent may reasonably require.

Borrower’s Obligation to Rebuild and Use of Proceeds Therefor. In case Lender does Agent and Required Lenders do not elect to apply or does do not have the right to apply the Net Insurance/Condemnation Proceeds to the indebtedness Obligations of Borrowers Loan Parties under this Agreement or any of the other Loan Documents, as provided in Section 11.1 6.16(b) above, Borrowers shall:Borrower shall (or shall cause the applicable Subsidiary Guarantor or Operator to): (ai) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities and cause the Net Insurance/Condemnation Proceeds to be deposited with LenderAgent; (bii) In the event of any delay in making settlement with insurers or the appropriate governmental authorities Governmental Authorities or effecting collection of the Net Insurance/Condemnation Proceeds, deposit with Lender Agent the full amount required to complete construction as aforesaidaforesaid (in which event, Borrower (or the applicable Subsidiary Guarantor) may retain the Net Insurance/Condemnation Proceeds upon receipt from the insurer or Governmental Authority); and (ciii) Promptly proceed with re-construction of the Facility, including the repair of all damage resulting from such fire, condemnation or other cause ca use and restoration to its former condition. Lender Agent may condition the disbursement of Net Insurance/Condemnation Proceeds and other funds deposited with Lender to Agent for the cost of restoration on LenderAgent’s reasonable approval of the plans and specifications for the restorationrestoration (which plans and specifications shall, inter alia, not conflict with any standards of any permanent financing provider), contractor’s cost estimates, architect’s certificates, waivers of liens, sworn statements of mechanics and materialmen, and such other evidence of costs, percentage completion of construction, disbursement and application of payments and satisfaction of liens as Lender Agent may reasonably require.

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 of Borrowers under this Agreement or any of the other Loan Documents, as provided in Section 11.1 9.1 above, Borrowers the applicable Borrower shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities and cause the Proceeds to be deposited with Lender; (b) In the event of any delay in making settlement with insurers or the appropriate governmental authorities or effecting collection of the Proceeds, deposit with Lender the full amount required to complete construction as aforesaid; and (c) Promptly proceed with construction of the Facility, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Lender may condition the disbursement of Proceeds and other funds deposited with Lender for the cost of restoration on Lender’s reasonable approval of the plans and specifications for the restoration, contractor’s cost estimates, architect’s certificates, waivers of liens, sworn statements of mechanics and materialmen, and such other evidence of costs, percentage completion of construction, application of payments and satisfaction of liens as Lender may reasonably require.

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 of Borrowers Borrower under this Agreement or any of the other Loan Documents, as provided in Section 11.1 9.1 above, Borrowers Borrower shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities and cause the Proceeds to be deposited with Lender; (b) In the event of any delay in making settlement with insurers or the appropriate governmental authorities or effecting collection of the Proceeds, deposit with Lender the full amount required to complete construction as aforesaidaforesaid (in which event, Borrower may retain the Proceeds upon receipt from the insurer or Governmental Authority); and (c) Promptly proceed with re-construction of the FacilityProperty, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Lender may condition the disbursement of Proceeds and other funds deposited with Lender for the cost of restoration on Lender’s reasonable approval of the plans and specifications for the restoration, contractor’s cost estimates, architect’s certificates, waivers of liens, sworn statements of mechanics and materialmen, and such other evidence of costs, percentage completion of construction, application of payments and satisfaction of liens as Lender may reasonably require.

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 of Borrowers Borrower under this Agreement or any of the other Loan Documents, as provided in Section 11.1 10.1 above, Borrowers Borrower shall: (a) Proceed with diligence to make settlement with insurers or the appropriate governmental authorities and cause the Proceeds to be deposited with Lender; (b) In the event of any delay in making settlement with insurers or the appropriate governmental authorities or effecting collection of the Proceeds, deposit with Lender the full amount required to complete construction as aforesaid; and (c) Promptly proceed with construction of the FacilityProperty, including the repair of all damage resulting from such fire, condemnation or other cause and restoration to its former condition. Lender may condition the disbursement of Proceeds and other funds deposited with Lender for the cost of restoration on Lender’s reasonable approval of the plans and specifications for the restoration, contractor’s cost estimates, architect’s certificates, waivers of liens, sworn statements of mechanics and materialmen, and such other evidence of costs, percentage completion of construction, application of payments and satisfaction of liens as Lender may reasonably require.