Damage or Injury. The Improvements shall not have been materially damaged by fire or other casualty unless there shall have been received by Agent or a person approved by Agent, or unless the relevant insurance company shall have confirmed coverage for such casualty and committed to disburse, insurance proceeds sufficient in the sole judgment of Agent and the Consulting Professional, to effect satisfactory restoration and completion of the Improvements on or before the Outside Completion Date.
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Samples: Construction Loan Agreement (Taubman Centers Inc), Construction Loan Agreement (Taubman Realty Group LTD Partnership)
Damage or Injury. The Improvements shall not have been materially damaged by fire or other casualty unless there shall have been received received, by Agent Lender or a person approved by Agent, or unless the relevant insurance company shall have confirmed coverage for such casualty and committed to disburseLender, insurance proceeds sufficient in the sole judgment of Agent Lender and the Consulting Professional, to effect satisfactory restoration and completion of the Improvements on or before the Outside Completion Date.
Appears in 2 contracts
Samples: Project Loan Agreement (Agree Realty Corp), Project Loan Agreement (Agree Realty Corp)
Damage or Injury. The Improvements shall not have been materially damaged by fire or other casualty Casualty unless there shall have been received received, by Agent or a person approved by the Agent, or unless the relevant insurance company shall have confirmed coverage for such casualty and committed to disburse, insurance proceeds sufficient in the sole judgment of Agent and the Consulting ProfessionalAgent, to effect satisfactory restoration and completion Completion of the Improvements on or before the Outside Completion Date.;
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