Insurance Trustee. Except as otherwise provided in this Lease, all insurance policy proceeds provided for in subsection 6.2.1 shall be paid and delivered to an Insurance Trustee designated by Landlord and shall be held and used for the following purposes with the Insurance Trustee having the powers and duties contained herein:
Insurance Trustee. Notwithstanding any of the foregoing provisions and requirements relating to property or liability insurance, there may be named as an insured, on behalf of the Association, the Association’s authorized representative, including any Trustee with whom the Association may enter into any insurance Trust Agreement or any successor to such Trustee (each of whom shall be referred to herein as the “Insurance Trustee”), who shall have exclusive authority to negotiate losses under any policy providing such property or liability insurance. Any insurance Trustee must be a corporation or association organized or authorized to do business under the laws of the State of Indiana, and authorized and permitted by its charter documents and by state law to conduct a trust business.
Insurance Trustee. The Bank of New York, in New York, New York, as insurance trustee for Ambac Assurance or any successor insurance trustee.
Insurance Trustee. If Landlord fails to comply with its obligation to rebuild the Premises pursuant to this Article 11 and Tenant elects to exercise its self-help rights as set forth in Section 14.7 hereof, upon receipt of written instructions from Tenant, Landlord shall inform its insurance company that Tenant has undertaken the rebuilding of the Premises and all insurance proceeds shall thereafter be placed with an insurance trustee and disbursed upon terms and conditions similar to those contained in an industry standard construction loan agreement.
Insurance Trustee. Signature by the Trustee is in acknowledgement of acceptance of appointment. Insurance Trustee Name: _____________________________________________ Signature: __________________________________________________________
Insurance Trustee. The CCTA will continue to appoint one person as one of the two Corporation Trustees in the MASE Insurance Trust, and in the School Trust of Indiana for ancillary insurance benefits unavailable through MASE Trust.
Insurance Trustee. The funds for payment of cost of reconstruction and repair after casualty, which funds shall consist of proceeds of insurance held by the Insurance Trustee and funds collected by the Corporation from assessment against co-owners, shall be disbursed in payment of such costs in the following manner:
Insurance Trustee. The Insurance Trustee shall be designated by the Board of Managers and shall be a depository institution or trust company having an office located in The City of New York with net assets or a capital surplus and undivided profits of $500,000,000 or more having a long term credit rating from Standard & Poor’s Rating Services of not less than “A”. In the event the Insurance Trustee resigns or is replaced by the Board of Managers, the Board of Managers shall appoint a new Insurance Trustee. The Board of Managers shall pay the fees and disbursements of any Insurance Trustee and such fees and disbursements shall constitute a Common Expense. The Insurance Trustee shall hold all CE Restoration Funds (i) in trust on behalf of all Unit Owners, (ii) in accordance with the terms of these By-laws and (iii) in accordance with Section 254(4) of the Real Property Law of the State of New York.
Insurance Trustee. The following provisions shall apply from and after the time that there shall be (i) any insured damage to the Premises in excess of $100,000,000.00 (subject to Section 18.19), or (ii) a Taking of all or a portion thereof:
Insurance Trustee. 1. The Board shall have the right, but shall not be required, to designate any bank, trust company, management agent, savings and loan entity, building and loan association, insurance company or any institutional lender, or the Council, as the “Insurance Trustee,” and all parties beneficially interested in such insurance coverage shall be bound thereby. The Insurance Trustee, at the time of the deposit of such policies and endorsements, shall acknowledge that the policies and any proceeds therefrom shall be held in accordance with the terms of this Master Deed.
