Common use of Disbursement of Proceeds Clause in Contracts

Disbursement of Proceeds. In the event Tenant is required to restore the Leased Property pursuant to Section 10.2, Tenant shall commence promptly and continue diligently to perform the repair and restoration of the Leased Property (hereinafter called the "Work"), so as to restore the Leased Property in compliance with all Legal Requirements and so that the Leased Property shall be, to the extent practicable, substantially equivalent in value and general utility to its general utility and value immediately prior to such damage or destruction. Subject to the terms hereof, Landlord shall advance the insurance proceeds and any additional amounts payable by Landlord pursuant to Section 10.

Appears in 5 contracts

Samples: Lease Agreement (Hospitality Properties Trust), Lease Agreement (Hospitality Properties Trust), Lease Agreement (Hospitality Properties Trust)

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Disbursement of Proceeds. In the event Tenant is required to restore the Leased Property pursuant to Section 10.2, Tenant shall (or shall direct the Manager to) commence promptly and continue diligently to perform the repair and restoration of the Leased Property (hereinafter called the "Work"), so as to restore the Leased Property in compliance with all Legal Requirements and so that the Leased Property shall be, to the extent practicable, substantially equivalent in value and general utility to its general utility and value immediately prior to such damage or destruction. Subject to the terms hereof, Landlord shall advance the insurance proceeds and any additional amounts payable by Landlord pursuant to Section 10.

Appears in 3 contracts

Samples: Lease Agreement (Hospitality Properties Trust), Lease Agreement (Wyndham Hotel Corp), Lease Agreement (Wyndham Hotel Corp)

Disbursement of Proceeds. In the event Tenant is required to ------------------------ restore the Leased Property pursuant to Section 10.210.2.2, Tenant shall (or shall direct Manager to) commence promptly and continue diligently to perform the repair and restoration of the Leased Property (hereinafter called the "Work")Property, so as to restore the Leased Property in compliance with all Legal Requirements and so that to substantially the Leased Property shall besame condition, to the extent reasonably practicable, substantially equivalent in value and general utility to its general utility and value as existed immediately prior to such before the damage or destructiondestruction and otherwise in accordance with this Lease. Subject to the terms hereof, Landlord shall advance the insurance proceeds and and, subject to the terms hereof, any additional amounts payable by Landlord pursuant to Section 10.

Appears in 2 contracts

Samples: Lease Agreement (Crestline Capital Corp), Lease Agreement (HMC Merger Corp)

Disbursement of Proceeds. In the event Tenant is required to restore the Leased Property pursuant to Section 10.210.2.2, Tenant shall (or shall direct Manager to) commence promptly and continue diligently to perform the repair and restoration of the Leased Property (hereinafter called the "Work")Property, so as to restore the Leased Property in compliance with all Legal Requirements and so that to substantially the Leased Property shall besame condition, to the extent reasonably practicable, substantially equivalent in value and general utility to its general utility and value as existed immediately prior to such before the damage or destructiondestruction and otherwise in accordance with this Lease. Subject to the terms hereof, Landlord shall advance the insurance proceeds and and, subject to the terms hereof, any additional amounts payable by Landlord pursuant to Section 10.

Appears in 2 contracts

Samples: Lease Agreement (Host Marriott L P), Lease Agreement (Host Marriott Corp/)

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Disbursement of Proceeds. In the event Tenant is required to restore ------------------------ the Leased Property pursuant to Section 10.210.2.2, Tenant shall (or shall direct Manager to) commence promptly and continue diligently to perform the repair and restoration of the Leased Property (hereinafter called the "Work")Property, so as to restore the Leased Property in compliance with all Legal Requirements and so that to substantially the Leased Property shall besame condition, to the extent reasonably practicable, substantially equivalent in value and general utility to its general utility and value as existed immediately prior to such before the damage or destructiondestruction and otherwise in accordance with this Lease. Subject to the terms hereof, Landlord shall advance the insurance proceeds and and, subject to the terms hereof, any additional amounts payable by Landlord pursuant to Section 10.

Appears in 1 contract

Samples: Lease Agreement (HMC Merger Corp)

Disbursement of Proceeds. In the event Tenant is required to restore the any Leased Property pursuant to Section 10.2, Tenant shall (or shall direct the Manager to) commence promptly and continue diligently to perform the repair and restoration of the such Leased Property (hereinafter called the "Work"), so as to restore the such Leased Property in compliance with all Legal Requirements and so that the such Leased Property shall be, to the extent practicable, substantially equivalent in value and general utility to its general utility and value immediately prior to such damage or destruction. Subject to the terms hereof, Landlord shall advance the insurance proceeds and any additional amounts payable by Landlord pursuant to Section 10.

Appears in 1 contract

Samples: Master Lease Agreement (Hospitality Properties Trust)

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