LIABILITY NONCUMULATIVE. The Amount of Insurance shall be reduced by any amount the Company pays under any policy insuring a Mortgage to which exception is taken in Schedule B or to which the Insured has agreed, assumed, or taken subject, or which is executed by an Insured after Date of Policy and which is a charge or lien on the Title, and the amount so paid shall be deemed a payment to the Insured under this policy.
Appears in 11 contracts
Samples: Membership Interest Purchase Agreement (MVP REIT II, Inc.), Purchase and Sale Agreement (Trans Energy Inc), Contract of Sale (QTS Realty Trust, Inc.)
LIABILITY NONCUMULATIVE. The Amount of Insurance shall be reduced by any amount the Company pays under any policy insuring a Mortgage to which exception is taken in Schedule B or to which the Insured has agreed, assumed, or taken subject, subject or which is executed by an Insured after Date of Policy and which is a charge or lien on the Title, and the amount so paid shall be deemed a payment to the Insured under this policy.
Appears in 2 contracts
Samples: Owner Policy of Title Insurance, Contract of Sale (Franklin Street Properties Corp /Ma/)
