Common use of Depositary and Proceeds Clause in Contracts

Depositary and Proceeds. (h) If required by the Ground Lessor, the proceeds under all policies required by any provision of this Lease insuring against damage to Leasehold Improvements by fire or other casualty shall be payable to the Depositary and, if not so required, such proceeds shall be payable directly to Landlord, which shall hold the same pending application to the restoration of the Premises or, if this Lease shall have terminated or expired, Landlord may retain the same.

Depositary and Proceeds. (ha) If required by the Ground LessorLessor or any Superior Mortgagee, the proceeds under all policies required by any provision of this Lease insuring against damage to Leasehold Improvements by fire or other casualty shall be payable to the Depositary and, if not so required, such proceeds shall be payable directly to Landlord, which shall hold the same pending application to the restoration of the Premises or, if this Lease shall have terminated or expired, Landlord may retain the samein accordance with Article 22.

Depositary and Proceeds. (ha) If required by the Ground Lessor, the proceeds under all policies required by any provision of this Lease insuring against damage to Leasehold Improvements by fire or other casualty shall be payable to the Depositary and, if not so required, such proceeds shall be payable directly to Landlord, which shall hold the same pending application to the restoration of the Premises or, if this Lease shall have terminated or expired, Landlord may retain the same.

Depositary and Proceeds. (ha) If required by the Ground Lessor, the proceeds under all policies required by any provision of this Lease insuring against damage to Leasehold Improvements by fire or other casualty shall be payable to the Depositary and, if not so required, such proceeds shall be payable directly to Landlord, which shall hold the same pending application application‌ to the restoration of the Premises or, if this Lease shall have terminated or expired, Landlord may retain the same.same.‌‌‌