Common use of Deposit of Insurance Premiums Clause in Contracts

Deposit of Insurance Premiums. Landlord, by written notice, may at any time during the pendency of an Event of Default hereunder, require Tenant to deposit on the first (1st) day of each calendar month with the Depository an amount sufficient to pay the annual premiums for insurance required to be carried by Tenant hereunder when the same shall become due and payable, provided however, if an Event of Default exists due to Tenant’s failure to pay insurance premiums when due and as to which failure Landlord may (a) require payment to be made on demand or (b) pay the same, Landlord may at any time after such Event of Default has occurred and is continuing, pay such insurance premiums, whereupon Tenant shall be obligated to reimburse Landlord therefor as Additional Costs. Notwithstanding anything in this Article 7 to the contrary, in the event that a Mortgagee (provided such Mortgagee be an Institutional Lender) requires Tenant to deposit funds to insure payment of insurance premiums, any amount so deposited by Tenant with such Mortgagee shall be credited against the amount, if any, which Tenant would otherwise be required to deposit under this Section 7.03.

Deposit of Insurance Premiums. Landlord, by written notice, may at any time after the occurrence and during the pendency continuance of an Event of Default hereunderDefault, require Tenant to deposit on the first (1st) day of each calendar month with the Depository an amount sufficient to pay the annual premiums for insurance required to be carried by Tenant hereunder when the same shall will become due and payable, provided however, if an Event of Default exists due to Tenant’s failure to pay insurance premiums when due and as to which failure Landlord may (a) require payment to be made on demand or (b) pay the same, Landlord may at any time after such Event of Default has occurred and is continuing, pay such insurance premiums, whereupon Tenant shall will be obligated to reimburse Landlord therefor as Additional Costs. Notwithstanding anything in this Article 7 to the contrary, in the event that if a Mortgagee (provided such Mortgagee be is an Institutional Lender) requires Tenant to deposit funds to insure ensure payment of insurance premiums, any amount so deposited by Tenant with such Mortgagee shall will be credited against the amount, if any, which Tenant would otherwise be required to deposit under this Section 7.03.

Deposit of Insurance Premiums. Landlord, by written notice, may at any time after the occurrence and during the pendency continuance of an Event of Default hereunder, require Tenant to deposit on the first (1st) day of each calendar month with the Depository an amount sufficient to pay the annual premiums for insurance required to be carried by Tenant hereunder when the same shall become due and payable, provided however, if an Event of Default exists due to Tenant’s failure to pay insurance premiums when due and as to which failure Landlord may (a) require payment to be made on demand or (b) pay the same, Landlord may at any time after such Event of Default has occurred and is continuing, pay such insurance premiums, whereupon Tenant shall be obligated to reimburse Landlord therefor as Additional Costs. Notwithstanding anything in this Article 7 to the contrary, in the event that a Mortgagee (provided such Mortgagee be is an Institutional Lender) requires Tenant to deposit funds to insure ensure payment of insurance premiums, any amount so deposited by Tenant with such Mortgagee shall be credited against the amount, if any, which Tenant would otherwise be required to deposit under this Section 7.037.04.

Deposit of Insurance Premiums. Landlord, by written notice, may at any time after the occurrence and during the pendency continuance of an Event of Default hereunderDefault, require Tenant to deposit on the first (1st) day of each calendar month with the Depository an amount sufficient to pay the annual premiums for insurance required to be carried by Tenant hereunder when the same shall will become due and payable, provided however, if an Event of Default exists due to Tenant’s failure to pay insurance premiums when due and as to which failure Landlord may (a) require payment to be made on demand or (b) pay the same, Landlord may at any time after such Event of Default has occurred and is continuing, pay such insurance premiums, whereupon Tenant shall will be obligated to reimburse Landlord therefor as Additional Costs. Notwithstanding anything in this Article 7 to the contrary, in the event that if a Mortgagee (provided such Mortgagee be is an Institutional Lender) requires Tenant to deposit funds to insure ensure payment of insurance premiums, any amount so deposited by Tenant with such Mortgagee shall will be credited against the amount, if any, which Tenant would otherwise be required to deposit under this Section 7.037.04.