Casualty/Condemnation Subaccount. Borrower shall pay, or cause to be paid, to Lender all insurance proceeds or Awards due to any Casualty or Condemnation which Borrower is required to deposit with Lender to be transferred to a Subaccount (the "CASUALTY/CONDEMNATION SUBACCOUNT") in accordance with the provisions of Sections 5 and 11. All amounts in the Casualty/Condemnation Subaccount shall be disbursed in accordance with the provisions of Sections 5 and 11.
Appears in 3 contracts
Samples: And Security Agreement (Acadia Realty Trust), Rents and Security Agreement (Acadia Realty Trust), And Security Agreement (Acadia Realty Trust)
Casualty/Condemnation Subaccount. Borrower Borrowers shall pay, or cause to be paid, to Lender all insurance proceeds Proceeds or Awards due to any Casualty or Condemnation which Borrower is required to deposit with Lender to be transferred to a Subaccount for the applicable Borrower (the "CASUALTY/CONDEMNATION SUBACCOUNT") " in accordance with the provisions of Sections 5 and 11Section 7. All amounts in the Casualty/Condemnation Subaccount shall be disbursed in accordance with the provisions of Sections 5 and 11Section 7.
Appears in 1 contract
Samples: Loan Agreement (Lodgian Inc)
