Casualties and Condemnation. 27 Section 7.1 Casualties..................................................27 Section 7.2 Condemnation................................................27
Casualties and Condemnation. 20 6.1 Lender's Election to Apply Proceeds on Indebtedness.............. 20
Casualties and Condemnation. Since the date of the most recent financial statements furnished to the Agent and the Banks, neither the business nor the property of either Borrower has been materially and adversely affected as a result of any casualty, fire, explosion, earthquake, flood, drought, windstorm, accident, strike or other labor disturbance, embargo, requisition or taking of property or cancellation of contracts, permits or concessions by any domestic or foreign government or any agency thereof, riot, activities of armed forces or acts of God or of any public enemy, except as otherwise disclosed in writing to the Agent and the Banks.
Casualties and Condemnation. 19 6.1 Agent's Election to Apply Proceeds on Indebtedness....
Casualties and Condemnation. (a) Borrower shall give Lender prompt written notice of any material damage to the Premises or the institution of any proceedings for eminent domain or for the condemnation of all or part of the Premises (along with a deed in lieu of condemnation, collectively referred to as “condemnation”). As additional collateral, but subject to the rights of Senior Lender, Borrower hereby assigns to Lender all insurance proceeds on the Premises and all causes of action, claims, compensation, awards, and recoveries for any damage to all or any part of the Premises or for any loss or diminution in value of the Premises resulting from a casualty or condemnation (collectively, the “Proceeds”). Xxxxxxxx shall execute and deliver such instruments as may be requested by Xxxxxx, from time to time, to confirm the foregoing assignment to Lender of the Proceeds. Subject to the rights of Senior Lender, Borrower hereby appoints Lender as its attorney-in-fact (which power of attorney is irrevocable, shall be deemed coupled with an interest, and shall survive the voluntary or involuntary dissolution of Borrower), with full power of substitution to settle for, collect, and receive any such Proceeds from the parties paying them. Subject to the rights of Senior Lender, all Proceeds shall be paid to Lender, and, if Borrower receives any Proceeds, it will promptly remit them to Lender without demand or request from Lender. Lender may participate in any suits or proceedings relating to any Proceeds and may join with Borrower in adjusting any loss covered by insurance relating to the Premises, and Borrower shall from time to time deliver to Lender any instruments required to permit such participation.
(b) Lender shall first apply any Proceeds it receives to the payment of all of its reasonable out-of-pocket costs and expenses (including attorney’s fees) incurred in obtaining those sums (with the remainder referred to as the “Net Proceeds”). Subject to the prior rights of Senior Lender and the conditions set forth below, Lender will then apply the Net Proceeds for rebuilding, restoration, or repair (collectively in this section 3.23, “repair”) of the Premises with any remainder being applied by Lender for payment of any amount owed under the Loan Documents in whatever order Lender determines in its absolute discretion. Notwithstanding the foregoing, however, Lender need not make any Net Proceeds available to Borrower to repair the Premises if: (1) an Event of Default has occurred and is cont...
Casualties and Condemnation. Section 7.1. Casualties Section 7.2. Condemnation
Casualties and Condemnation. Since the date of the most recent financial statements furnished to the Bank prior to the Closing Date, neither the Business nor the Property of the Tribe or the Enterprise has been materially and adversely affected as a result of any fire, explosion, earthquake, flood, drought, windstorm, accident, strike or other labor disturbance, embargo, requisition or taking of property or cancellation of contracts, permits or concessions by any domestic or foreign government or any agency thereof, riot, activities of armed forces or acts of God or of any public enemy, except as disclosed in writing to the Bank on or prior to the Closing Date.
Casualties and Condemnation. Since the date of the most recent financial statements furnished to the Bank prior to the Closing Date, neither the business nor the property of the Companies has been materially and adversely affected as a result of any fire, explosion, earthquake, flood, drought, windstorm, accident, strike or other labor disturbance, embargo, requisition or taking of property or cancellation of contracts, permits or concessions by any domestic or foreign government or any agency thereof, riot, activities of armed forces or acts of God or of any public enemy, except as disclosed in writing to the Bank on or prior to the Closing Date.
Casualties and Condemnation. 42 16.1 LENDER'S ELECTION TO APPLY PROCEEDS ON INDEBTEDNESS..................................................42 16.2 BORROWER'S OBLIGATION TO REBUILD AND USE OF PROCEEDS THEREFOR........................................42
Casualties and Condemnation. 35 8.1 Insurance Proceeds . . . . . . . . . . . . . . . . . . . . . 35 8.2 Additional Provisions Relating to Condemnation . . . . . . . . . . . . . . . . . . . . . . . . 39
