DIRECT PAYMENT TO THE LENDER OF PROCEEDS. If the Insurance Proceeds received in connection with a casualty or the Condemnation Proceeds received in respect of a condemnation exceed $50,000, or if there is a Default, then such proceeds shall be paid directly to the Lender. The Lender shall have the right to endorse instruments which evidence proceeds that it is entitled to receive directly.
Appears in 5 contracts
Samples: Credit Agreement, United Investors Income Properties, Angeles Partners X
DIRECT PAYMENT TO THE LENDER OF PROCEEDS. If the Insurance Proceeds received in connection with a casualty or the Condemnation Proceeds received in respect of a condemnation exceed Two Hundred Fifty Thousand Dollars ($50,000250,000), or if there is a Default, then such proceeds shall be paid directly to the Lender. The Lender shall have the right to endorse instruments which evidence proceeds that it is entitled to receive directly.
Appears in 1 contract
Samples: RREEF Property Trust, Inc.
