Insurance Adjustment. In July of each year, the City shall pay each Director a cash payment in the amount of one hundred and fifty dollars ($150) to offset the co‐payments and deductibles for medical insurance plans.
Insurance Adjustment. SELLER acknowledges that the new insurance policies contracted directly by Piracicaba have a higher cost to Piracicaba if compared to the cost of the insurance policies reflected in the Piracicaba Pro Forma Balance Sheet. In order to neutralize such increase, the Parties agree that the Purchase Price shall be reduced by such increase, calculated pursuant to the following formula: Where: IPPR = amount of the Purchase Price reduction due to the insurance cost difference NIC = cost of the new insurance policies PFIC = cost of the insurance policies listed in the Pro Forma Balance Sheet 34% = income tax rate 10% = present value discount rate
3.5.1. The Parties agree that any payments due under such Section 3.3.2. shall take into consideration the IPPR.
Insurance Adjustment. Landlord shall pay all insurance premiums. Notwithstanding the foregoing, Tenant shall pay to Landlord, as Additional Rent (insurance adjustment), any increases in insurance premiums payable by Landlord with respect to the Building over the Insurance Base as specified in this Lease. “Insurance Base” is the insurance premium for 2011. Tenant will pay to Landlord any increase (insurance adjustment) over this Insurance Base within ten (10) days after demand in one lump sum, or, at Landlord’s option, divided by twelve (12) and collected with monthly Rent. This insurance adjustment however is capped at no more than three percent (3%) per year. The insurance adjustment will be due each anniversary after the initial adjustment and collectible as Additional Rent. Even though the terms of the Lease has terminated or expired and Tenant has vacated the Leased Premises, when a final determination is made of Tenant’s share of the taxes adjustments and insurance adjustments for the year in which this Lease terminates, Tenant shall immediately pay any increase due over the estimated Tenant’s Share of such taxes and insurance adjustments previously paid, and conversely, any overpayment made shall be immediately rebated by Landlord to Tenant.
Insurance Adjustment. 27 17. Notices....................................... 28 18. Waiver........................................ 29
Insurance Adjustment. The indemnification obligation of an Indemnifying Party will be adjusted so as to give effect to any insurance that is collectible by the Indemnified Party with respect to the Claim or the underlying factors under any applicable policy, net of any directly related premium increases for continuation of the insurance coverage.
Insurance Adjustment. Grantor shall give immediate written notice of any loss to the insurance carrier and to Beneficiary. Grantor hereby irrevocably authorizes and empowers Beneficiary, as attorney-in-fact for Grantor coupled with an interest, to notify any of Grantor’s insurance carriers to add Beneficiary as a lender’s loss payable, mortgagee and additional insured, as the case may be, to any policy maintained by Grantor (regardless of whether such policy is required under this Deed of Trust), to make proof of loss, to adjust and compromise any claim under insurance policies, to appear in and prosecute any action arising from such insurance policies, to collect and receive insurance proceeds, and to deduct therefrom Beneficiary’s expenses incurred in the collection of such proceeds; provided, however, nothing contained in this Section 4.14(g) shall require Beneficiary to incur any expense or take any action hereunder.
Insurance Adjustment. In the event that, at any time after the Closing, Buyer receives insurance proceeds from the insurance policies referred to in Section 7.12 with respect to any incident or event occurring at or before the Closing, Buyer shall promptly so notify Seller, and there shall be an upward adjustment of the Purchase Price with respect to those insurance proceeds (i) to the extent of any costs or economic losses incurred by Cabot, Seller or any of the Cabot LNG Companies prior to the Closing arising out of such incident or event which costs or economic losses are borne by Seller after giving effect to the Asset Change Adjustment, or (ii) to the extent of any liability or account payable arising out of such event or incident which appears on the Closing Balance Sheet, in either case less any portion of such insurance proceeds which is represented by an Account Receivable that has not been assigned to Seller pursuant to Section 2.6(b). In the event that, at any time after the Closing, Seller receives insurance proceeds from the insurance policies referred to in Section 7.12 with respect to any incident or event occurring at or before the Closing relating to the Cabot LNG Business, Seller shall promptly so notify Buyer, and shall pay over to Buyer such insurance proceeds to the extent of any costs or economic losses incurred by any of the Cabot LNG Companies prior to the Closing arising out of such incident or event which costs or economic losses are borne by Buyer after giving effect to the Asset Change Adjustment.
