Common use of Loss Payee Clause Clause in Contracts

Loss Payee Clause. Claims payments under this Policy shall be agreed with and payable to the Security Agent or as it directs. Notwithstanding any of the foregoing, any amounts of any kind payable to any Insured party shall be paid into the Insurance Proceeds Account or as the Security Agent may otherwise direct.

Loss Payee Clause. Claims payments under this Policy shall be agreed with and payable to the Security Agent or as it directs. Notwithstanding any of the foregoing, any amounts of any kind payable to any of the Group Insured party shall be paid into the Insurance Proceeds Account or as the Security Agent may otherwise direct.