Disbursement of Insurance Proceeds. If, as provided in Section 13.2, the Lessor is required to apply any property insurance proceeds toward repair or restoration of the Leased Property, then as long as the Work is being diligently performed by the Lessee in accordance with the terms and conditions of this Lease, the Lessor shall disburse such insurance proceeds from time to time during the course of the Work in accordance with and subject to satisfaction of the following provisions and conditions. The Lessor shall not be required to make disbursements more often than at thirty (30) day intervals. The Lessee shall submit a written request for each disbursement at least ten (10) Business Days in advance and shall comply with the following requirements in connection with each disbursement:
Disbursement of Insurance Proceeds. Tenant shall use its commercially reasonable efforts to complete the Work on or prior to the estimated completion date set forth in its agreement with the general contractor. If Landlord is required or elects to apply any Property Loss Insurance Proceeds toward repair or restoration of the applicable Facility, provided Tenant is performing the Work in accordance with this Lease, Landlord shall disburse such Property Loss Insurance Proceeds as and when required by Tenant in accordance with normal and customary practice for the payment of a general contractor in connection with construction projects similar in scope and nature to the Work. Upon the completion of the Work and the furnishing of proof thereof (as evidenced by a certificate of occupancy or similar evidence issued upon an inspection by the applicable Governmental Authority), the balance of the Property Loss Insurance Proceeds payable to Tenant on account of the Work shall be paid to Tenant as and when Tenant complies with the terms of Sections 12.4.1 through 12.4.3, inclusive. Prior to any final disbursement of Property Loss Insurance Proceeds, Tenant shall satisfy all of the conditions relative to Alterations as to the Work, as well as provide evidence reasonably satisfactory to Landlord that any amounts required to be paid by Tenant in connection with such Work pursuant to Section 12.6 have been paid in full. Notwithstanding anything in this Lease to the contrary, any Facility Mortgagee may retain and disburse the Property Loss Insurance Proceeds, and Tenant shall comply with the reasonable requests and requirements of such Facility Mortgagee in connection with the Work and the disbursement of Property Loss Insurance Proceeds provided the same are commercially reasonable and do not diminish Tenant’s entitlement to such proceeds.
Disbursement of Insurance Proceeds. Insurance proceeds applied to restoration will be disbursed by the Administrative Agent on receipt of reasonably satisfactory plans and specifications, contracts and subcontracts, schedules, budgets, lien waivers and architects’ certificates, and otherwise in accordance with prudent commercial construction lending practices for construction loan advances (including appropriate retainages to ensure that all work is completed in a workmanlike manner).
Disbursement of Insurance Proceeds. Insurance proceeds received by Administrative Agent and to be applied to restoration pursuant to the terms of this Section 3.2, will be disbursed by Administrative Agent to the applicable Borrowers on a monthly basis, commencing within ten (10) Business Days following receipt by Administrative Agent of plans and specifications, contracts and subcontracts, schedules, budgets, conditional lien waivers and architects’ certificates all in form reasonably satisfactory to Administrative Agent, and otherwise in accordance with prudent commercial construction lending practices for construction loan advances (including appropriate retainages to ensure that all work is completed in a workmanlike manner). Any insurance proceeds remaining after payment of all restoration costs under Section 3.2(b)(ii) shall be remitted to Borrowers provided no Event of Default shall be continuing.
Disbursement of Insurance Proceeds. Insurance proceeds received by Administrative Agent and to be applied to restoration pursuant to the terms of this Section 3.2 will be disbursed by Administrative Agent to Borrower on a monthly basis, commencing within ten (10) Business Days following receipt by Administrative Agent of plans and specifications, contracts and subcontracts, schedules, budgets, lien waivers and architects’ certificates all in form reasonably satisfactory to Administrative Agent, and otherwise in accordance with prudent commercial construction lending practices for construction loan advances (including appropriate retainages to ensure that all work is completed in a workmanlike manner).
Disbursement of Insurance Proceeds. 14.1 INSURANCE PROCEEDS. Net Proceeds shall be paid to Lessor and held, disbursed or retained by Lessor as provided herein.
Disbursement of Insurance Proceeds. (a) If and for so long as Tenant is not in default of any of its obligations for the payment of Fixed Rent or Additional Rent, and no uncured Event of Default has occurred which is continuing, and Tenant is conducting the Casualty Restoration in accordance with this Lease, the Casualty Proceeds shall be paid out from time-to-time, but not more frequently than once per month, to pay for all work, labor and material installed and completed at the Demised Premises as the Casualty Restoration progresses (subject to Landlord’s approval which shall not be unreasonably withheld), upon the written request of Tenant, which request shall be accompanied by the following:
Disbursement of Insurance Proceeds. (a) If Mortgagee receives the insurance proceeds of an Insured Casualty (other than a Material Casualty Event), directly or as provided in Section 5 above, and such proceeds exceed $1,500,000 individually or in the aggregate such proceeds shall be (a) deposited and held in a blocked account that is a deposit account subject to a Deposit Account Control Agreement, in which Mortgagee holds a first priority security interest, subject, as to priority, only to non-consensual liens permitted under Section 6.02 of the Credit Agreement arising, and entitled to priority, by operation of law (a “Deposit Account”), and (b) disbursed from such Deposit Account at the written direction of the Mortgagee from time to time, pursuant to a construction escrow established with a title insurance company reasonably acceptable to Mortgagee, upon Mortgagee being furnished with (i) satisfactory evidence of the cost and time of completion of restoration, repair, replacement and rebuilding, (ii) funds sufficient, in addition to the proceeds of insurance, to complete the proposed restoration, repair, replacement and rebuilding, and (iii) such architect’s certificates, waivers of lien, contractor’s sworn statements and other evidences of cost and payment as Mortgagee may reasonably require and approve; provided that Mortgagee shall have the right to retain, at Mortgagor’s sole expense, a construction monitor (a “Construction Monitor”) reasonably satisfactory to Mortgagee in connection with Section 5, this Section 6 or Section 7. No payment made prior to the final completion of the restoration, repair, replacement or rebuilding shall exceed ninety percent (90%) of the value of the labor and material for work performed from time to time. Funds other than proceeds of insurance shall be disbursed prior to disbursement of insurance proceeds. At all times the undisbursed balance of the insurance proceeds held by Mortgagee, together with funds deposited or irrevocably committed to the satisfaction of Mortgagee by or on behalf of Mortgagor for the purpose, shall be at least sufficient, in the reasonable judgment of Mortgagee, to pay for the cost of completing the restoration, repair, replacement or rebuilding the Premises, free and clear of all liens or claims for liens. The interest earned on amounts in the Deposit Account shall inure to the benefit of, and any taxes payable with respect thereto shall be payable by, Mortgagor. Mortgagor shall pay all costs in connection with disbursement of ...
Disbursement of Insurance Proceeds. That parties agree that Tenant’s property insurance on any improvements in the Premises installed by or on behalf of Tenant shall be adjusted and disbursed in accordance with this Subsection 7.4. If a fire or other casualty occurs and this Lease is not terminated as a result thereof, the Tenant’s insurance shall be adjusted by Tenant and the proceeds thereof shall be paid to Landlord to fund the Landlord’s restoration work. If the Lease is terminated as a result of a fire or other casualty, then Tenant’s insurance shall be adjusted and the proceeds thereof shall be paid to Tenant, provided, however, that Tenant agrees to pay Landlord for Landlord’s share of the insurance proceeds attributable to the improvements in the Premises installed by or on behalf of Tenant by Landlord and not yet paid for by Tenant to Landlord (if any) at the time of such fire or casualty.
Disbursement of Insurance Proceeds. Subject to the terms of any applicable Fee Mortgage Loan Documents, if, as provided in Section 13.2, the Lessor is required to apply any property insurance proceeds toward repair or restoration of the Leased Property, then as long as the Work is being diligently performed by the Lessee in accordance with the terms and conditions of this Lease, the Lessor shall disburse such insurance proceeds from time to time during the course of the Work in accordance with and subject to satisfaction of the following provisions and conditions. The Lessor shall not be required to make disbursements more often than at thirty (30) day intervals. The Lessee shall submit a written request for each disbursement at least ten (10) Business Days in advance and shall comply with the following requirements in connection with each disbursement:
