Common use of Disbursement of Insurance Proceeds Clause in Contracts

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. Tenant shall use its commercially reasonable efforts to complete the Work on or prior to the estimated completion date set forth in provided by its agreement with the general contractorarchitect. If Landlord is required or elects to apply any Property Loss Casualty Insurance Proceeds toward repair or restoration of the applicable Facility, provided Tenant is diligently performing the Work in accordance with this Lease, Landlord shall disburse such Property Loss Casualty 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 , including, at Landlord’s option, the completion withholding of 10% of each disbursement of such Casualty Insurance Proceeds until the Work and the furnishing of proof thereof (is completed as evidenced by a certificate of occupancy or similar evidence issued upon an inspection by the applicable Governmental Authority)Authority and proof has been furnished to Landlord that no lien or liability has attached or will attach to the applicable Leased Property or to Landlord in connection with the Work. Upon the completion of the Work and the furnishing of such proof, the balance of the Property Loss Casualty 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 15.4.1 through 12.4.3, inclusive15.4.3 have been complied with. Prior to any final disbursement of Property Loss Casualty Insurance Proceeds, Tenant shall satisfy all of the conditions set forth in Sections 11.2.1 through 11.2.9 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 15.6 below have been paid in full. Notwithstanding anything in this Lease contained herein to the contrary, any Facility Mortgagee may retain and disburse the Property Loss Casualty Insurance Proceeds, 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 Casualty Insurance Proceeds provided the same are commercially reasonable and do not diminish Tenant’s entitlement to such proceedsProceeds.

Disbursement of Insurance Proceeds. Tenant shall use its commercially reasonable best efforts to complete the Work on or prior to the estimated completion date set forth in provided by its agreement with the general contractorarchitect. If Landlord is required or elects to apply any Property Loss Casualty Insurance Proceeds toward repair or restoration of the applicable Facility, provided Tenant is diligently performing the Work in accordance with this Lease, Landlord shall disburse such Property Loss Casualty 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 , including, at Landlord's option, the completion withholding of 10% of each disbursement of such Casualty Insurance Proceeds until the Work and the furnishing of proof thereof (is completed as evidenced by a certificate of occupancy or similar evidence issued upon an inspection by the applicable Governmental Authority)Authority and proof has been furnished to Landlord that no lien or liability has attached or will attach to the applicable Leased Property or to Landlord in connection with the Work. Upon the completion of the Work and the furnishing of such proof, the balance of the Property Loss Casualty 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 15.4.1 through 12.4.3, inclusive15.4.3 have been complied with. Prior to any final disbursement of Property Loss Casualty Insurance Proceeds, Tenant shall satisfy all of the conditions set forth in Sections 11.2.5 through 11.2.9 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 15.6 below have been paid in full. Notwithstanding anything in this Lease contained herein to the contrary, any Facility Mortgagee may retain and disburse the Property Loss Casualty Insurance Proceeds, 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 Casualty Insurance Proceeds provided the same are commercially reasonable and do not diminish Tenant’s entitlement to such proceedsProceeds.

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 provided by its agreement with the general contractorarchitect. If Landlord is required or elects to apply any Property Loss Casualty Insurance Proceeds toward repair or restoration of the applicable Facility, provided Tenant is diligently performing the Work in accordance with this Lease, Landlord shall disburse such Property Loss Casualty 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 Amberleigh in scope and nature to the Work. Upon , including, at Landlord's option, the completion withholding of 10% of each disbursement of such Casualty Insurance Proceeds until the Work and the furnishing of proof thereof (is completed as evidenced by a certificate of occupancy or similar evidence issued upon an inspection by the applicable Governmental Authority)Authority and proof has been furnished to Landlord that no lien or liability has attached or will attach to the applicable Leased Property or to Landlord in connection with the Work. Upon the completion of the Work and the furnishing of such proof, the balance of the Property Loss Casualty 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 15.4.1 through 12.4.3, inclusive15.4.3 have been complied with. Prior to any final disbursement of Property Loss Casualty Insurance Proceeds, Tenant shall satisfy all of the conditions set forth in Sections 11.2.5 through 11.2.9 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 15.6 below have been paid in full. Notwithstanding anything in this Lease contained herein to the contrary, any Facility Mortgagee may retain and disburse the Property Loss Casualty Insurance Proceeds, 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 Casualty Insurance Proceeds provided the same are commercially reasonable and do not diminish Tenant’s entitlement to such proceedsProceeds.

Disbursement of Insurance Proceeds. Tenant shall use its commercially reasonable best efforts to complete the Work on or prior to the estimated completion date set forth in provided by its agreement with the general contractorarchitect. If Landlord is required or elects to apply any Property Loss Casualty Insurance Proceeds toward repair or restoration of the applicable Facility, provided Tenant is diligently performing the Work in accordance with this Lease, Landlord shall disburse such Property Loss Casualty 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 , including, at Landlord’s option, (i) the completion withholding of 10% of each disbursement of such Casualty Insurance Proceeds until the Work and the furnishing of proof thereof (is completed as evidenced by a certificate of occupancy or similar evidence issued upon an inspection by the applicable Governmental Authority)Authority and proof has been furnished to Landlord that no lien or liability has attached or will attach to the applicable Leased Property or to Landlord in connection with the Work, and (ii) requiring that Tenant expend its own funds prior to disbursement of Casualty Insurance Proceeds in order that the remaining Casualty Insurance Proceeds are sufficient to complete and pay for the repair and restoration Work. Upon the completion of the Work and the furnishing of such proof, the balance of the Property Loss Casualty 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 15.4.1 through 12.4.3, inclusive15.4.3 have been complied with. Prior to any final disbursement of Property Loss Casualty Insurance Proceeds, Tenant shall satisfy all of the conditions set forth in Sections 11.2.5 through 11.2.9 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 15.6 below have been paid in full. Notwithstanding anything in this Lease contained herein to the contrary, any Facility Mortgagee may retain and disburse the Property Loss Casualty Insurance Proceeds, 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 Casualty Insurance Proceeds provided the same are commercially reasonable and do not diminish Tenant’s entitlement to such proceedsProceeds.

Disbursement of Insurance Proceeds. All Property Loss Insurance Proceeds received under any policy of insurance required to be carried hereunder shall be paid to Landlord. 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 Portions of this exhibit that have been marked by [***] have been omitted pursuant to a request for confidential treatment filed separately with the Securities and Exchange Commission. elects to apply any Property Loss Insurance Proceeds toward repair or restoration of the applicable Facility, provided Tenant is diligently 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 , including, at Landlord’s option, the completion withholding of 10% of the value of the Work and described in each Property Loss Insurance Proceeds disbursement request until the furnishing of proof thereof Work is completed (as evidenced by a certificate of occupancy or similar evidence issued upon an inspection by the applicable Governmental Authority), ) and proof has been furnished to Landlord that no Lien has attached or will attach to the balance of the Property Loss Insurance Proceeds payable applicable Facility or to Tenant on account of the Work shall be paid to Tenant as and when Tenant complies Landlord in connection with the terms of Sections 12.4.1 through 12.4.3, inclusiveWork. 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 11.6 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 proceedsProceeds.

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 provided by its agreement with the general contractorarchitect. If Landlord is required or elects to apply any Property Loss Casualty Insurance Proceeds toward repair or restoration of the applicable Facility, provided Tenant is diligently performing the Work in accordance with this Lease, Landlord shall disburse such Property Loss Casualty 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 , including, at Landlord's option, the completion withholding of 10% of each disbursement of such Casualty Insurance Proceeds until the Work and the furnishing of proof thereof (is completed as evidenced by a temporary or permanent certificate of occupancy or similar evidence issued upon an inspection by the applicable Governmental Authority)Authority and proof has been furnished to Landlord that no lien or liability has attached or will attach to the applicable Leased Property or to Landlord in connection with the Work. Upon the completion of the Work and the furnishing of such proof, the balance of the Property Loss Casualty 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 SECTIONS 15.5.1 through 12.4.3, inclusive15.5.3 have been complied with. Prior to any final disbursement of Property Loss Casualty Insurance Proceeds, Tenant shall satisfy all of the conditions set forth in SECTIONS 11.2.5 through 11.2.9 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 SECTION 15.7 below 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.in

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 provided by its agreement with the general contractorarchitect. If Landlord is required or elects to apply any Property Loss Casualty Insurance Proceeds toward repair or restoration of the applicable Facility, provided Tenant is diligently performing the Work in accordance with this Lease, Landlord shall disburse such Property Loss Casualty 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 , including, at Landlord’s option, the completion withholding of 10% of each disbursement of such Casualty Insurance Proceeds until the Work and the furnishing of proof thereof (is completed as evidenced by a certificate of occupancy or similar evidence issued upon an inspection by the applicable Governmental Authority)Authority and proof has been furnished to Landlord that no lien or liability has attached or will attach to the applicable Leased Property or to Landlord in connection with the Work. Upon the completion of the Work and the furnishing of such proof, the balance of the Property Loss Casualty 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 15.4.1 through 12.4.3, inclusive15.4.3 have been complied with. Prior to any final disbursement of Property Loss Casualty Insurance Proceeds, Tenant shall satisfy all of the conditions set forth in Sections 11.2.5 through 11.2.9 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 15.6 below have been paid in full. Notwithstanding anything in this Lease contained herein to the contrary, any Facility Mortgagee may retain and disburse the Property Loss Casualty Insurance Proceeds, 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 Casualty Insurance Proceeds provided the same are commercially reasonable and do not diminish Tenant’s entitlement to such proceedsProceeds.

Disbursement of Insurance Proceeds. All Property Loss Insurance Proceeds received under any policy of insurance required to be carried hereunder shall be paid to Landlord. 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 diligently 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 , including, at Landlord’s option, the completion withholding of 10% of the value of the Work and described in each Property Loss Insurance Proceeds disbursement request until the furnishing of proof thereof Work is completed (as evidenced by a certificate of occupancy or similar evidence issued upon an inspection by the applicable Governmental Authority), ) and proof has been furnished to Landlord that no Lien has attached or will attach to the balance of the Property Loss Insurance Proceeds payable applicable Facility or to Tenant on account of the Work shall be paid to Tenant as and when Tenant complies Landlord in connection with the terms of Sections 12.4.1 through 12.4.3, inclusiveWork. 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 11.6 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 proceedsProceeds.