Common use of Insufficient Insurance Proceeds Clause in Contracts

Insufficient Insurance Proceeds. If this Agreement is not otherwise terminated pursuant to this ARTICLE 10 and the cost of the repair or restoration of the Leased Property exceeds the amount of insurance proceeds received by Landlord and Tenant pursuant to this ARTICLE 10, Tenant shall promptly 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). In the

Appears in 1 contract

Samples: Lease Agreement (CNL Hospitality Properties Inc)

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Insufficient Insurance Proceeds. If this Agreement is not otherwise terminated pursuant to this ARTICLE Article 10 and the cost of the repair or restoration of the Leased Property exceeds the amount of insurance proceeds received by Landlord and Tenant pursuant to this ARTICLE 10Article 9(a), (c), (d) or, if applicable, (e), Tenant shall promptly give Landlord Notice thereof, thereof which Notice 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 so, except that, if Tenant shall elect to make such funds available, the same shall become an irrevocable obligation of TenantTenant pursuant to this Agreement). In thethe event Tenant shall elect not to pay and assume the amount

Appears in 1 contract

Samples: Lease Agreement (Hospitality Properties Trust)

Insufficient Insurance Proceeds. If this Agreement is not otherwise terminated pursuant to this ARTICLE Article 10 and the cost of the repair or restoration of the Leased applicable Property exceeds the amount of insurance proceeds received by Landlord and Tenant pursuant to this ARTICLE 10Section 9(a), (c), (d) or, if applicable, (f), Tenant shall promptly give Landlord Notice thereof, thereof which Notice 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 so, except that, if Tenant shall elect to make such funds available, the same shall become an irrevocable obligation of Tenant). In theobligation

Appears in 1 contract

Samples: Lease Agreement (Candlewood Hotel Co Inc)

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Insufficient Insurance Proceeds. If this Agreement is not otherwise terminated pursuant to this ARTICLE Article 10 and the cost of the repair or restoration of the Leased any Property exceeds the amount of insurance proceeds received by Landlord and Tenant pursuant to this ARTICLE 10Section 9.1(a), (c), (d) or, if applicable, (f), Tenant shall promptly give Landlord Notice thereof, thereof which Notice 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 so, except that, if Tenant shall elect to make such funds available, the same shall become an irrevocable obligation of Tenant). In theobligation

Appears in 1 contract

Samples: Master Lease Agreement (Hospitality Properties Trust)

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