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 amount of insurance proceeds received by Landlord and Tenant pursuant to Article 9(a), (c), (d) or, if applicable, (e), Tenant shall give Landlord Notice thereof which notice shall set forth in reasonable detail the nature of such deficiency and whether Tenant shall pay and assume the amount of such deficiency (Tenant having no obligation to do so, except that, if Tenant shall elect to make such funds available, the same shall become an irrevocable obligation of Tenant pursuant to this Agreement). In the event Tenant shall elect not to pay and assume the amount of such deficiency, Landlord 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

Insufficient Insurance Proceeds. If the cost of the repair or restoration of the Leased Property applicable Travel Center exceeds the amount of insurance proceeds received by Landlord and Tenant pursuant to Article 9(a), (c), (d) or, if applicable, (e)Section 9.1, Tenant shall give Landlord Notice thereof which notice shall set forth in reasonable detail the nature of such deficiency and whether Tenant shall pay and assume the amount of such deficiency (Tenant having no obligation to do so, except that, if Tenant shall elect to make such funds available, the same shall become an irrevocable obligation of Tenant pursuant to this Agreement). In the event Tenant shall elect not to pay and assume the amount of such deficiency, Landlord shall have the right (but not the obligation), exercisable at in Landlord's ’s sole election discretion by Notice to Tenant, given within sixty (60) days after Tenant's ’s notice of thethe deficiency, to elect to make available for application to

Insufficient Insurance Proceeds. If the cost of the repair or restoration of the Leased Property applicable Facility exceeds the amount of insurance proceeds received by Landlord and Tenant pursuant to Article 9(a), (c), (d) or, if applicable, (e)Section 9.1, Tenant shall give Landlord Notice thereof which notice shall set forth in reasonable detail the nature of such deficiency and whether Tenant shall pay and assume the amount of such deficiency (Tenant having no obligation to do so, except that, if Tenant shall elect to make such funds available, the same shall become an irrevocable obligation of Tenant pursuant to this Agreement). In the event Tenant shall elect not to pay and assume the amount of such deficiency, Landlord shall have the right (but not the obligation), exercisable at Landlord's ’s sole election by Notice to Tenant, given within sixty (60) days after Tenant's ’s notice of thethe deficiency, to elect to make available for application to