Damage by Third Parties Clause Samples
Damage by Third Parties. In the event any part of the Mortgaged Property shall be destroyed or damaged by any party or from any cause whereby Grantor becomes entitled to indemnity or recovery therefor from any third person or persons, all of such sum or sums so due from any such third person or persons shall be paid to the Indenture Trustee and applied as provided in the Loan Agreement.
Damage by Third Parties. In the event the Leased Premises are damaged as the result of the actions of one or more third parties (including, without limitation, the unauthorized operation of all-terrain vehicles on the Leased Premises), the parties shall confer on the restoration of the Leased Premises, but the costs of such restoration shall be borne by the Trust to the extent such costs are not covered by the insurance specified in Section 9.2 of this Agreement.
Damage by Third Parties. In the event the repairs, damage or replacement of equipment is the result of damage by a third party or Carrier, Contractor will assist and cooperate with TAMUS should TAMUS elect to pursue compensation from the third party or Carrier that caused the damage, in an effort to recover such repair costs at TAMUS’s sole discretion.