Collection of Insurance Proceeds. Borrower will cooperate with Lender in obtaining for Lender the benefits of any insurance or other proceeds lawfully or equitably payable to it in connection with the transaction contemplated hereby and the collection of any indebtedness or obligation of Borrower to Lender incurred hereunder.
Collection of Insurance Proceeds. The Lessor shall in no event be responsible for the non-collection of any insurance proceeds under this Lease but only for insurance money that shall come into its hands.
Collection of Insurance Proceeds. To cooperate with Lender in obtaining for Lender the benefits of any insurance or other proceeds lawfully or equitably payable to Borrower or Lender in connection with the transactions contemplated hereby and in paying any indebtedness or obligation of Borrower to Lender incurred hereunder (including the payment by Borrower of the expense of an independent appraisal on behalf of Lender in case of a fire or other casualty affecting the Property).
Collection of Insurance Proceeds. In the event any of the GL Property is destroyed or damaged by fire, explosion, windstorm, hail or by any other casualty against which insurance shall have been required hereunder, (i) BNPLC may make proof of loss, (ii) each insurance company concerned is hereby authorized and directed to make payment for such loss directly to BNPLC for application as required by subparagraph 7(A), and (iii) BNPLC's consent must be obtained for any settlement, adjustment or compromise of any claims for loss, damage or destruction under any policy or policies of insurance.
Collection of Insurance Proceeds. (a) In the event of loss pertaining to the Premises (“Loss”), Borrower shall promptly give written notice to the insurance carrier and Lender. All insurance proceeds shall be paid to Lender and shall be placed in a separate trust account with Lender to be disbursed in accordance with this Agreement. In the event that any insurance company fails to disburse directly and solely to Lender, but disburses instead either solely to Borrower or to Borrower and Lender jointly, Borrower agrees to immediately endorse and transfer such proceeds to Lender. Upon failure of Borrower to endorse and transfer such proceeds to Lender, Lender may execute such endorsements or transfers for and in the name of Borrower and Borrower hereby irrevocably appoints Lender as Borrower’s agent and attorney-in-fact so to do. Provided that no Default or Event of Default has occurred and is continuing hereunder or but for the passage of time or the giving of notice, or both, would have occurred and is continuing, (i) Borrower may adjust, compromise and settle any claim hereunder subject to obtaining the prior written consent of Lender, such consent not to be unreasonably withheld, conditioned or delayed, and (ii) after deducting from said insurance proceeds any expenses incurred in collecting or handling the proceeds and paying same to Lender, Borrower may, at Borrower’s option, direct the net proceeds to be applied either (1) as a credit on the principal of the Note, whether then matured or to mature in the future, or (2) to the repair or restoration of the Premises if Borrower complies with the conditions provided in this paragraph. Until disbursed to pay for the cost of repairing or restoring the Premises, Lender shall have a security interest in the insurance proceeds and other funds at any time held by it pursuant to this paragraph.
(b) If Borrower elects to direct the net proceeds to be applied to the repair or restoration of the Premises, Lender shall make the insurance proceeds available to Borrower to pay all or a portion of the costs of repairing or restoring the Premises to as nearly as practicable the condition of the Premises immediately preceding the Loss, provided that such funds shall be made available to Borrower only on compliance with the following conditions: (i) within forty-five (45) days of a Loss, Borrower shall notify Lender of Borrower’s intention to use the insurance proceeds to repair or restore the Premises to as nearly as practicable their condition immediatel...
Collection of Insurance Proceeds. In the event that the Trust property shall include policies of life insurance on the date of the insured's death, the Trustee shall, as soon as is practical after that date, furnish proof of death to the insuring companies and shall collect all monies due under all policies, or make other suitable settlement arrangements or agreements with the insuring companies, subject only to this Trust. In connection with the collection of the proceeds of any such policies, the Trustee shall have full authority to take any action it deems best, and is hereby authorized to execute all necessary receipts and releases to the insuring companies concerned.
Collection of Insurance Proceeds. In the event that either G&L or PGI (or any of their respective Subsidiaries) collects insurance proceeds with respect to a claim relating to Assets other than those acquired with such Party's purchase of its respective Business or Businesses pursuant to this Agreement, such Party shall promptly forward the portion of the proceeds of the claim that relate to such nonacquired assets to the other Party. If the claim results in proceeds with respect to any Proportional Assets or any Proportional Liability, the proceeds shall be allocated 57.4% in favor of G&L and 42.6% in favor of PGI. If the claim results in proceeds with respect to any Split Assets or Split Liability, the proceeds shall be split 50/50 between G&L and PGI.
Collection of Insurance Proceeds. Upon receipt of proof of Grantor's death, the Trustee shall use its best efforts to collect amounts payable by reason of the death of Grantor under the policies of life insurance then held hereunder, and for that purpose, the Trustee is expressly empowered to execute and deliver valid receipts and complete discharges to the insurance company or companies and to institute any suit or other proceedings or any other acts necessary for the purpose of collecting such amounts. The Trustee shall not be under any duty to institute any suit or proceedings unless its expenses, including counsel fees and costs, shall be available from the trust fund, or shall have been advanced or guaranteed from another source in an amount and in a manner satisfactory to the Trustee. The Trustee may pay from the trust fund any and all expenses in collecting or attempting to collect any sum from any insurance company by suit or otherwise, and repay any advances made for that purpose by the Trustee or any other person.
Collection of Insurance Proceeds. Borrower will cooperate with Administrative Agent in obtaining for Administrative Agent the benefits of any insurance or other proceeds lawfully or equitably payable to it in connection with the transaction contemplated hereby and the collection of any indebtedness or obligation of Borrower to Administrative Agent incurred hereunder (including the payment by Borrower of the expense of an independent appraisal on behalf of Administrative Agent in case of a fire or other casualty affecting the Premises).
Collection of Insurance Proceeds. BorrowerEach Loan Party will cooperate with Lenderthe Lenders in obtaining for Lenderthe Lenders the benefits of any insurance or other proceeds lawfully or equitably payable to it in connection with the transaction contemplated hereby and the collection of any indebtedness or obligation of Borrower to Lendersuch Loan Party to the Lenders incurred hereunder.
