Common use of EXCESS INSURANCE PROCEEDS RECEIVED Clause in Contracts

EXCESS INSURANCE PROCEEDS RECEIVED. Subject to Section 7.7, any insurance proceeds received by a Shareholder under any Insurance Policy in excess of the amount necessary to complete the purchase and sale of Common Shares as provided for in Article 6 shall be retained by such Shareholder for such Shareholder’s own use absolutely.

EXCESS INSURANCE PROCEEDS RECEIVED. Subject to Section 7.78.8, any insurance proceeds received by a Shareholder under any Insurance Policy in excess of the amount necessary to complete the purchase and sale of Common Shares as provided for in Article 6 or 7 shall be retained by such Shareholder for such Shareholder’s own use absolutely.

EXCESS INSURANCE PROCEEDS RECEIVED. Subject to Section 7.78.8, any insurance proceeds received by a Shareholder under any Insurance Policy in excess of the amount necessary to complete the purchase and sale of Common Shares as provided for in Article 6 or 7 shall be retained by such Shareholder for such Shareholder’s own use absolutely.