Common use of Insufficient Insurance Proceeds Clause in Contracts

Insufficient Insurance Proceeds. If the cost of the repair or restoration of the Leased Property exceeds the sum of the deductible and the amount of casualty insurance proceeds received by Landlord pursuant to Section 9.1 (other than Section 9.1(b)), Landlord shall give Tenant and Operator, if applicable, Notice thereof, within sixty (60) days after notice of such deficiency, which Notice shall set forth in reasonable detail the nature of such deficiency and whether Landlord shall pay and assume the amount of such deficiency (Landlord having no obligation to do so, except that, if Landlord shall elect to make such funds available, the same shall become an irrevocable obligation of Landlord pursuant to this Agreement). If Landlord elects to make such deficiency available for restoration, the Minimum Rent shall be adjusted by the amount of the same as provided in Section 3.1.1(b). In the event that Landlord does not elect to make such deficiency available for restoration, either Landlord or Tenant may terminate this Agreement by Notice to the other, whereupon, this Agreement shall terminate as provided in Section 10.1. It is expressly understood and agreed, however, that, notwithstanding anything in this Agreement to the contrary, Landlord shall be solely responsible for the amount of any deductible.

Insufficient Insurance Proceeds. If the cost of the repair or restoration of the Leased Property exceeds the sum of the deductible and the amount of casualty insurance proceeds received by Landlord pursuant to Section 9.1 (other than Section 9.1(b9.1(c)), Landlord shall give Tenant and Operator, if applicable, Notice thereof, within sixty (60) days after notice of such deficiency, which Notice shall set forth in reasonable detail the nature of such deficiency and whether Landlord shall pay and assume the amount of such deficiency (Landlord having no obligation to do so, except that, if Landlord shall elect to make such funds available, the same shall become an irrevocable obligation of Landlord pursuant to this Agreement). If Landlord elects to make such deficiency available for restoration, the Minimum Rent shall be adjusted by the amount of the same as provided in Section 3.1.1(b). In the event that Landlord does not elect to make such deficiency available for restoration, either Landlord or Tenant may terminate this Agreement by Notice to the other, whereupon, this Agreement shall terminate as provided in Section 10.1. It is expressly understood and agreed, however, that, notwithstanding anything in this Agreement to the contrary, Landlord shall be solely responsible for the amount of any deductible.

Insufficient Insurance Proceeds. If the cost of the repair or restoration of the Leased Property applicable Facility exceeds the sum of the deductible and the amount of casualty insurance proceeds received by Landlord and Tenant pursuant to Section 9.1 (other than Section 9.1(b))9.1, Landlord Tenant shall give Tenant and Operator, if applicable, Landlord Notice thereof, within sixty (60) days after thereof which notice of such deficiency, which Notice shall set forth in reasonable detail the nature of such deficiency and whether Landlord Tenant shall pay and assume the amount of such deficiency (Landlord Tenant having no obligation to do so, except that, if Landlord Tenant shall elect to make such funds available, the same shall become an irrevocable obligation of Landlord Tenant pursuant to this Agreement). If Landlord elects In the event Tenant shall elect not to make such deficiency available for restoration, the Minimum Rent shall be adjusted by pay and assume the amount of such deficiency, Landlord shall have the same as provided in Section 3.1.1(bright (but not the obligation). In , exercisable at Landlord’s sole election by Notice to Tenant, given within sixty (60) days after Tenant’s notice of the event that Landlord does not deficiency, to elect to make such deficiency available for restoration, either Landlord or Tenant may terminate this Agreement by Notice to the other, whereupon, this Agreement shall terminate as provided in Section 10.1application to 1. It is expressly understood and agreed, however, that, notwithstanding anything in this Agreement to the contrary, Landlord Tenant shall be strictly liable and solely responsible for the amount of any deductibledeductible and shall, upon any insurable loss, pay over the amount of such deductible to Landlord at the time and in the manner herein provided for payment of the applicable proceeds to Landlord.

Insufficient Insurance Proceeds. If the cost of the repair or restoration of the Leased Property applicable Facility exceeds the sum of the deductible and the amount of casualty insurance proceeds received by Landlord and Tenant pursuant to Section 9.1 (other than Section 9.1(b))SECTION 9.1, Landlord Tenant shall give Tenant and Operator, if applicable, Landlord Notice thereof, within sixty (60) days after thereof which notice of such deficiency, which Notice shall set forth in reasonable detail the nature of such deficiency and whether Landlord Tenant shall pay and assume the amount of such deficiency (Landlord Tenant having no obligation to do so, except that, if Landlord Tenant shall elect to make such funds available, the same shall become an irrevocable obligation of Landlord Tenant pursuant to this Agreement). If In the event Tenant shall elect not to pay and assume the amount of such deficiency, Landlord elects shall have the right (but not the obligation), exercisable at Landlord's sole election by Notice to Tenant, given within sixty (60) days after Tenant's notice of the deficiency, to elect to make such deficiency available for restorationapplication to the cost of repair or restoration the amount of such deficiency; PROVIDED, HOWEVER, in such event, upon any disbursement by Landlord thereof, the Minimum Rent shall be adjusted by the amount of the same as provided in Section 3.1.1(b). In the event that Landlord does not elect to make such deficiency available for restoration, either Landlord or Tenant may terminate this Agreement by Notice to the other, whereupon, this Agreement shall terminate as provided in Section 10.1. It is expressly understood and agreed, however, that, notwithstanding anything in this Agreement to the contrary, Landlord shall be solely responsible for the amount of any deductible.SECTION 3.1.1

Insufficient Insurance Proceeds. If the cost of the repair or restoration of the Leased Property exceeds the sum of the deductible and the amount of casualty insurance proceeds received by Landlord and Tenant pursuant to Section 9.1 (other than Section 9.1(b)Article 9(a), Landlord shall give Tenant and Operator(c), (d) or, if applicable, (e), Tenant shall give Landlord Notice thereof, within sixty (60) days after thereof which notice of such deficiency, which Notice shall set forth in reasonable detail the nature of such deficiency and whether Landlord Tenant shall pay and assume the amount of such deficiency (Landlord Tenant having no obligation to do so, except that, if Landlord Tenant shall elect to make such funds available, the same shall become an irrevocable obligation of Landlord Tenant pursuant to this Agreement). If Landlord elects In the event Tenant shall elect not to make such deficiency available for restoration, the Minimum Rent shall be adjusted by pay and assume the amount of such deficiency, Landlord shall have the same as provided in Section 3.1.1(bright (but not the obligation). In the event that Landlord does not elect to make such deficiency available for restoration, either Landlord or Tenant may terminate this Agreement exercisable at Landlord's sole election by Notice to the otherTenant, whereupon, this Agreement shall terminate as provided in Section 10.1given within sixty (60) days after Tenant's notice of the 1. It is expressly understood and agreed, however, that, notwithstanding anything in this Agreement to the contrary, Landlord Tenant shall be strictly liable and solely responsible for the amount of any deductibledeductible (other than deductibles under the then existing earthquake insurance maintained in accordance with Section 9.1) and shall, upon any insurable loss, pay over the amount of such deductible to Landlord at the time and in the manner herein provided for payment of the applicable proceeds to Landlord.

Insufficient Insurance Proceeds. If the cost of the repair or restoration of the Leased Property exceeds the sum of the deductible and the amount of casualty insurance proceeds received by Landlord pursuant to Section 9.1 (other than Section 9.1(b)), Landlord shall give Tenant and Operator, if applicable, Notice thereof, within sixty (60) days after notice of such deficiency, which Notice shall set forth in reasonable detail the nature of such deficiency and whether Landlord shall pay and assume the amount of such deficiency (Landlord having no obligation to do so, except that, if Landlord shall elect to make such funds available, the same shall become an irrevocable obligation of Landlord pursuant to this Agreement). If Landlord elects to make such deficiency available for restoration, the Minimum Rent shall be adjusted by the amount of the same as provided in Section 3.1.1(b). In the event that Landlord does not elect to make such deficiency available for restoration, either Landlord or Tenant may terminate this Agreement by Notice to the other, whereupon, this Agreement shall terminate as provided in Section 10.1. It is expressly understood and agreed, however, that, notwithstanding anything in this Agreement to the contrary, Landlord shall be solely responsible for the amount of any deductible.

Insufficient Insurance Proceeds. If the cost of the repair or restoration of the Leased applicable Property exceeds the sum of the deductible and the amount of casualty insurance proceeds received by Landlord and Tenant pursuant to Section 9.1 (other than Section 9.1(b))9.1, Landlord Tenant shall give Tenant and Operator, if applicable, Landlord Notice thereof, within sixty (60) days after thereof which notice of such deficiency, which Notice shall set forth in reasonable detail the nature of such deficiency and whether Landlord Tenant shall pay and assume the amount of such deficiency (Landlord Tenant having no obligation to do so, except that, if Landlord Tenant shall elect to make such funds available, the same shall become an irrevocable obligation of Landlord Tenant pursuant to this Agreement). If In the event Tenant shall elect not to pay and assume the amount of such deficiency, Landlord elects shall have the right (but not the obligation), exercisable at Landlord's sole election by Notice to Tenant, given within sixty (60) days after Tenant's notice of the deficiency, to elect to make such deficiency available for restorationapplication to the cost of repair or restoration the amount of such deficiency; provided, however, in such event, upon any disbursement by Landlord thereof, the Minimum Rent shall be adjusted by the amount of the same as provided in Section 3.1.1(b). In the event that Landlord does not elect to make such deficiency available for restoration, either Landlord or Tenant may terminate this Agreement by Notice to the other, whereupon, this Agreement shall terminate as provided in Section 10.1. It is expressly understood and agreed, however, that, notwithstanding anything in this Agreement to the contrary, Landlord shall be solely responsible for the amount of any deductible.3.1.1

Insufficient Insurance Proceeds. If the cost of the repair or restoration of the Leased applicable Property exceeds the sum of the deductible and the amount of casualty insurance proceeds received by Landlord and Tenant pursuant to Section 9.1 (other than Section 9.1(b))SECTION 9.1, Landlord Tenant shall give Tenant and Operator, if applicable, Landlord Notice thereof, within sixty (60) days after thereof which notice of such deficiency, which Notice shall set forth in reasonable detail the nature of such deficiency and whether Landlord Tenant shall pay and assume the amount of such deficiency (Landlord Tenant having no obligation to do so, except that, if Landlord Tenant shall elect to make such funds available, the same shall become an irrevocable obligation of Landlord Tenant pursuant to this Agreement). If In the event Tenant shall elect not to pay and assume the amount of such deficiency, Landlord elects shall have the right (but not the obligation), exercisable at Landlord's sole election by Notice to Tenant, given within sixty (60) days after Tenant's notice of the deficiency, to elect to make such deficiency available for restorationapplication to the cost of repair or restoration the amount of such deficiency; PROVIDED, HOWEVER, in such event, upon any disbursement by Landlord thereof, the Minimum Rent shall be adjusted by the amount of the same as provided in Section 3.1.1(b). In the event that Landlord does not elect to make such deficiency available for restoration, either Landlord or Tenant may terminate this Agreement by Notice to the other, whereupon, this Agreement shall terminate as provided in Section 10.1. It is expressly understood and agreed, however, that, notwithstanding anything in this Agreement to the contrary, Landlord shall be solely responsible for the amount of any deductible.SECTION 3.1.1

Insufficient Insurance Proceeds. If the cost of the repair or restoration of the Leased Property exceeds the sum of the deductible and the amount of casualty insurance proceeds received by Landlord and Tenant pursuant to Section 9.1 (other than Section 9.1(b))Article 9, Landlord Tenant shall give Tenant and Operator, if applicable, Landlord Notice thereof, within sixty (60) days after thereof which notice of such deficiency, which Notice shall set forth in reasonable detail the nature of such deficiency and whether Landlord Tenant shall pay and assume the amount of such deficiency (Landlord Tenant having no obligation to do so, except that, if Landlord Tenant shall elect to make such funds available, the same shall become an irrevocable obligation of Landlord Tenant pursuant to this AgreementLease). If In the event Tenant shall elect not to pay and assume the amount of such deficiency, Landlord elects shall have the right (but not the obligation), exercisable at Landlord’s sole election by Notice to Tenant, given within sixty (60) days after Tenant’s notice of the deficiency, to elect to make such deficiency available for restorationapplication to the cost of repair or restoration the amount of such deficiency; provided, however, in such event, upon any disbursement by Landlord thereof, the Minimum Rent shall be adjusted by the amount of the same as provided in Section 3.1.1(b). In the event that Landlord does not elect to make such deficiency available for restoration, either Landlord or Tenant may terminate this Agreement by Notice to the other, whereupon, this Agreement shall terminate as provided in Section 10.1. It is expressly understood and agreed, however, that, notwithstanding anything in this Agreement to the contrary, Landlord shall be solely responsible for the amount of any deductible.3.1