Earthquake Deductible Account Sample Clauses

Earthquake Deductible Account. 144 Section 9.8. Account Collateral........................................................................ 144 Section 9.9 Remedies.................................................................................. 145 Section 9.10 Special Reserve Account................................................................... 145 ARTICLE X DEFAULTS.................................................................................. 146 Section 10.1 Event of Default.......................................................................... 146 Section 10.2 Remedies.................................................................................. 150 Section 10.3
Sample 1
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Earthquake Deductible Account. Obligors shall establish and thereafter maintain with the Deposit Account Bank an account (the "Earthquake Deductible Account") which shall be an Eligible Account in the name of Lender and under the sole dominion and control of Lender and into which shall be deposited, following the occurrence of any earthquake with respect to any Property or Properties for which earthquake insurance is carried pursuant to Article VIII hereof (an "Earthquake Insurance Property"), amounts pursuant to 9.2(b) above equal to the deductible on such insurance policies applicable to such Property or Properties. Obligors shall have no right to make withdrawals from the Earthquake Deductible Account. Funds in the Earthquake Deductible Account shall not be commingled with any other monies at any time. At any time that an earthquake occurs with respect to an Earthquake Insurance Property, Lender shall be entitled to withdraw and apply the amounts in the Earthquake Deductible Account toward the cost of any deductibles payable on the earthquake insurance policy for such Property or Properties with respect to which earthquake damage has occurred.
Sample 1
Earthquake Deductible Account. Borrower shall establish and thereafter maintain with the Deposit Account Bank an account (the "Earthquake Deductible Account") which shall be an ----------------------------- Eligible Account in the name of Lender and under the sole dominion and control of Lender and into which shall be deposited, within thirty (30) days following the occurrence of any earthquake which damages any Property or Properties for which earthquake insurance is carried pursuant to Article III of the Security Instruments (an "Earthquake Insurance Property"), amounts pursuant to Section ----------------------------- 6.2(c) above equal to the lesser of (i) the deductible on such insurance policies applicable to such Property or Properties and (ii) the replacement cost with respect to the actual damages to the Earthquake Insurance Property from such earthquake. Borrower shall have no right to make withdrawals from the Earthquake Deductible Account. Funds in the Earthquake Deductible Account shall not be commingled with any other monies at any time. At any time that an earthquake occurs with respect to an Earthquake Insurance Property, the amounts in the Earthquake Deductible Account shall be applied in accordance with the terms of Section 4.3 of the Security Instruments with respect to such Property or Properties at which such earthquake damage has occurred.
Sample 1

Related to Earthquake Deductible Account

  • Earthquake Insurance If Lessor desires to obtain some form of earthquake insurance in the future, if and when available, on terms acceptable to Lessor as determined in the sole and absolute discretion of Lessor, then as a condition of Lessor agreeing to waive the requirement for earthquake insurance, Lessee agrees that it will pay, as additional Rent, which shall be included in the monthly CAC, an amount not to exceed Forty Seven Thousand Eight Hundred and Thirty Three Dollars ($47,833) per year.

  • Hazard Insurance Deductible Except as a greater amount may be required by an applicable law, each Hazard Insurance deductible may not exceed FNMA or FHLMC's required deductible.

  • Deductible No amount shall be payable under Article VII unless and until the aggregate amount of all indemnifiable Losses otherwise payable exceeds $250,000 (the “Deductible”), in which event the amount payable shall include all amounts included in the Deductible and all future amounts that become payable under Section 7.1 from time to time thereafter.

  • Earthquake If Lender requires earthquake Insurance, the amount of coverage will be equal to the greater of the following:

  • Deductibles If there is a material adverse change in the financial condition of LESSEE which LESSOR reasonably believes will not enable LESSEE to pay the deductible upon the occurrence of a partial loss of the Aircraft or an Engine, then LESSOR may require LESSEE at LESSEE's expense to lower its deductibles on the insurance maintained hereunder to a level which is available on commercially reasonable terms in the insurance market.

  • Uninsured Losses The Servicer must take the following actions in the event of loss or damage to any Mortgaged Property caused by an earthquake, flood, tornado or other natural disaster immediately following, the earlier to occur of (x) its notification or discovery of such loss or damage or (y) the time at which the Servicer reasonably should have known of such loss or damage in the exercise of Prudent Servicing Practices:

  • Casualties Neither the business nor the properties of the Borrower or any of its Subsidiaries are affected by any fire, explosion, accident, strike, lockout or other labor dispute, drought, storm, hail, earthquake, embargo, act of God or of the public enemy or other casualty, materially adversely affecting the business, condition (financial or otherwise), operations, properties or prospects of the Borrower or any such Subsidiary.

  • Casualty Losses Such Managed Container shall not have suffered a Casualty Loss;

  • Casualty Damage If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that, in Landlord's good faith estimation, the time required to repair and reconstruct the Building shall exceed one hundred eighty (180) days from the date of the casualty (whether or not the Premises shall have been damaged by such casualty), or in the event any mortgagee of Landlord's should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt, or in the event of any material loss to the Building that would not be covered by fire and extended coverage insurance commonly carried for commercial properties such as the Building, Landlord may, at its option, terminate this Lease by notifying Tenant in writing of such termination within sixty (60) days of the date of the casualty. If Landlord does not thus elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to restore the Building to substantially the same condition in which it was immediately prior to the happening of the casualty, except that Landlord shall not be required to spend for such work an amount in excess of the insurance proceeds actually received by Landlord as a result of the casualty. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a proportional diminution of rent during the time and to the extent the Premises are unfit for occupancy. If the Premises or any other portion of the Building be damaged by fire or other casualty resulting from the fault or negligence of Tenant or any of Tenant's agents, employees, or invitees, the rent hereunder shall not be diminished during the repair of such damage and Tenant shall be liable to Landlord for the cost of the repair and restoration of the Building caused thereby to the extent such cost and expense is not covered by insurance proceeds.

  • Excess Liability Insurance Excess Liability coverage shall be maintained over the required Employers Liability, Commercial General Liability, Business Auto Liability and Marine Liability policies in an amount not less than Three Hundred Fifty Million and No/100 Dollars ($350,000,000.00) per occurrence and in the aggregate annually (where applicable). The annual aggregate limit applicable to Commercial General Liability shall apply per location. Tenant will use commercially reasonable efforts to obtain coverage as broad as the underlying insurance, including Terrorism Liability coverage, so long as such coverage is available at a commercially reasonable price.

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