Common use of Casualty and Condemnation Proceeds Clause in Contracts

Casualty and Condemnation Proceeds. Payments received on account of the business interruption insurance specified in subsection 5.1.1(a)(iii) above with respect to any Casualty or Condemnation shall be deposited directly with Lender. Notwithstanding anything to the contrary contained herein, if in connection with a Casualty any insurance carrier makes a payment under a property insurance Policy that Borrower proposes be treated as business or rental interruption insurance, then, notwithstanding any designation (or lack of designation) by the insurance carrier as to the purpose of such payment, as between Lender and Borrower, such payment shall not be treated as business or rental interruption Insurance Proceeds unless Borrower has demonstrated to Lender’s satisfaction that the remaining Net Proceeds that will be received from the property insurance carriers are sufficient to pay 100% of the cost of fully restoring the Improvements or, if such Net Proceeds are to be applied repay the Loan in accordance with the terms hereof, that such remaining Net Proceeds will be sufficient to pay off the Loan in full.

Casualty and Condemnation Proceeds. Payments received on account of the rental loss and/or business income interruption insurance specified in subsection Section 5.1.1(a)(iii) above with respect to any Casualty or Condemnation shall be deposited directly with Lenderinto the Casualty and Condemnation Account. Notwithstanding anything to the contrary contained herein, if in connection with a Casualty any insurance carrier company makes a payment under a property insurance Policy that any Borrower proposes be treated as rental loss or business or rental income interruption insurance, then, notwithstanding any designation (or lack of designation) by the insurance carrier company as to the purpose of such payment, as between Lender and BorrowerBorrowers, such payment shall not be treated as rental loss or business or rental income interruption Insurance Proceeds unless Borrower has Borrowers have demonstrated to Lender’s satisfaction that the remaining Net Proceeds that will be have been received from the property insurance carriers companies are sufficient to pay one hundred percent (100% %) of the cost of fully restoring the Improvements Restoration or, if such Net Proceeds are to be applied to repay the Loan Obligations in accordance with the terms hereof, that such remaining Net Proceeds will be sufficient to pay off satisfy the Loan Obligations in full.

Casualty and Condemnation Proceeds. Payments received on account of the business interruption insurance specified in subsection Section 5.1.1(a)(iii) above with respect to any Casualty or Condemnation shall be deposited directly with Lenderinto the Casualty and Condemnation Account. Notwithstanding anything to the contrary contained herein, if in connection with a Casualty any insurance carrier company makes a payment under a property insurance Policy that any Borrower proposes be treated as business or rental interruption insurance, then, notwithstanding any designation (or lack of designation) by the insurance carrier company as to the purpose of such payment, as between Lender and BorrowerBorrowers, such payment shall not be treated as business or rental interruption Insurance Proceeds (with any earnings or interest thereon payable to Borrowers) unless Borrower has Borrowers have demonstrated to Lender’s 's satisfaction that the remaining Net Proceeds that will be received from the property insurance carriers companies are sufficient to pay one hundred percent (100% %) of the cost of fully restoring the Improvements Restoration or, if such Net Proceeds are to be applied to repay the Loan Obligations in accordance with the terms hereof, that such remaining Net Proceeds will be sufficient to pay off satisfy the Loan Obligations in full.

Casualty and Condemnation Proceeds. Payments received on account of the business interruption insurance specified in subsection SECTION 5.1.1(a)(iii) above with respect to any Casualty or Condemnation shall be deposited directly with Lenderinto the Casualty and Condemnation Account. Notwithstanding anything to the contrary contained herein, if in connection with a Casualty any insurance carrier company makes a payment under a property insurance Policy that Borrower proposes Borrowers propose be treated as business or rental interruption insurance, then, notwithstanding any designation (or lack of designation) by the insurance carrier company as to the purpose of such payment, as between Lender and BorrowerBorrowers, such payment shall not be treated as business or rental interruption Insurance Proceeds unless Borrower has Borrowers have demonstrated to Lender’s 's reasonable satisfaction that the remaining Net Proceeds that will be received from the property insurance carriers companies are sufficient to pay 100% of the cost of fully restoring the Improvements Restoration or, if such Net Proceeds are to be applied to repay the Loan Obligations in accordance with the terms hereof, that such remaining Net Proceeds will be sufficient to pay off satisfy the Loan Obligations in full.

Casualty and Condemnation Proceeds. Payments received on account of the rental loss and/or business income interruption insurance specified in subsection Section 5.1.1(a)(iii) above with respect to any Casualty or Condemnation shall be deposited directly with Lenderinto the Casualty and Condemnation Account. Notwithstanding anything to the contrary contained herein, if in connection with a Casualty any insurance carrier company makes a payment under a property insurance Policy that any Borrower proposes be treated as rental loss or business or rental income interruption insurance, then, notwithstanding any designation (or lack of designation) by the insurance carrier company as to the purpose of such payment, as between Lender and BorrowerBorrowers, such payment shall not be treated as rental loss or business or rental income interruption Insurance Proceeds unless Borrower has Borrowers have demonstrated to Lender’s satisfaction that the remaining Net Proceeds that will be have been received from the property insurance carriers companies are sufficient to pay one hundred percent (100% %) of the cost of fully restoring the Improvements Restoration or, if such Net Proceeds are to be applied to repay the Loan Obligations in accordance with the terms hereof, that such remaining Net Proceeds will be sufficient to pay off satisfy the Loan Obligations in full.. Pool 2

Casualty and Condemnation Proceeds. Payments received on account of the business interruption insurance specified in subsection Subsection 5.1.1(a)(iii) above with respect to any Casualty or Condemnation shall be deposited directly with Lenderinto the Casualty and Condemnation Account. Notwithstanding anything to the contrary contained herein, if in connection with a Casualty any insurance carrier makes a payment under a property insurance Policy that Borrower proposes be treated as business or rental interruption insurance, then, notwithstanding any designation (or lack of designation) by the insurance carrier as to the purpose of such payment, as between Lender and Borrower, such payment shall not be treated as business or rental interruption Insurance Proceeds insurance proceeds unless Borrower has demonstrated to Lender’s 's satisfaction that the remaining Net Proceeds that will be received from the property insurance carriers are sufficient to pay 100% of the cost of fully restoring the Improvements or, if such Net Proceeds are to be applied repay the Loan in accordance with the terms hereof, that such remaining Net Proceeds will be sufficient to pay off the Loan Debt in full.

Casualty and Condemnation Proceeds. Payments received on account of the business interruption insurance specified in subsection Section 5.1.1(a)(iii) above with respect to any Casualty or Condemnation shall be deposited directly with Lenderinto the Casualty and Condemnation Account. Notwithstanding anything to the contrary contained herein, if in connection with a Casualty any insurance carrier company makes a payment under a property insurance Policy that Borrower proposes be treated as business or rental interruption insurance, then, notwithstanding any designation (or lack of designation) by the insurance carrier company as to the purpose of such payment, as between Lender and Borrower, such payment shall not be treated as business or rental interruption Insurance Proceeds unless Borrower has demonstrated to Lender’s satisfaction that the remaining Net Proceeds that will be have been received from the property insurance carriers companies are sufficient to pay 100% of the cost of fully restoring the Improvements Restoration or, if such Net Proceeds are to be applied to repay the Loan Obligations in accordance with the terms hereof, that such remaining Net Proceeds will be sufficient to pay off satisfy the Loan Obligations in full.

Casualty and Condemnation Proceeds. Payments received on account of the rental loss and/or business income interruption insurance specified in subsection Section 5.1.1(a)(iii) above with respect to any Casualty or Condemnation shall be deposited directly with Lenderinto the Casualty and Condemnation Account. Notwithstanding anything to the contrary contained herein, if in connection with a Casualty any insurance carrier company makes a payment under a property insurance Policy that any Borrower proposes be treated as rental loss or business or rental income interruption insurance, then, notwithstanding any designation (or lack of designation) by the insurance carrier company as to the purpose of such payment, as between Lender and BorrowerBorrowers, such payment shall not be treated as rental loss or business or rental income interruption Insurance Proceeds unless Borrower has Borrowers have demonstrated to Lender’s satisfaction that the remaining Net Proceeds that will be have been received from the property insurance carriers companies are sufficient to pay one hundred percent (100% %) of the cost of fully restoring the Improvements Restoration or, if such Net Proceeds are to be applied to repay the Loan Obligations in accordance with the terms hereof, that such remaining Net Proceeds will be sufficient to pay off satisfy the Loan Obligations in full.. Pool 1