Loss Payee Provisions Sample Clauses

Loss Payee Provisions. 12 SECTION 9.5
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Loss Payee Provisions. The rental value policy referred to in SECTION 9.1 (c) hereof shall name the Credit Bank as the loss-payee thereunder. Upon the receipt of same, the Credit Bank shall apply the proceeds of such rental value insurance paid to it first to the payment of Basic Rent and then to the payment of taxes, insurance premiums and other items of Supplemental Rent becoming due during the rebuilding and restoration of the Leased Property, and any balance of such proceeds after the completion of such rebuilding and restoration shall be paid to the Lessee. Except as provided above in this SECTION 9.4, all policies of insurance required herein shall name the Credit Bank, the Lessor, and the Lessee as the insureds as their respective interests may appear. Subject to the provisions and limitations of this SECTION 9.4, all policies referred to in SECTION 9.1 hereof shall also provide for any loss to be payable to the Credit Bank as its interest may appear, pursuant to a standard mortgagee clause or endorsement. The loss, if any, under the policies referred to in SECTION 9.1 hereof shall be adjusted with the insurance companies by the Lessee except that no loss exceeding $1,000,000 shall be adjusted without the prior written approval of the Credit Bank, which approval shall not be unreasonably conditioned, withheld or delayed, except that so long as an Event of Default is outstanding, all such losses shall be adjusted exclusively by the Credit Bank. The loss, if any, under all policies referred to in SECTION 9.1 hereof shall be payable to the Credit Bank, which shall make the proceeds thereof available to the Lessee in the circumstances provided by the provisions of SECTION 11.6 hereof. All such policies shall expressly provide that loss thereunder shall be adjusted and paid as provided in this SECTION 9.4. Any loss paid to the Lessee under any insurance policy referred to in SECTION 9.1 hereof shall be held by the Lessee in trust for application to the cost of restoring, repairing, replacing or rebuilding the Leased Property. Any loss paid to the Credit Bank shall be held in trust by it and disbursed by it in accordance with the provisions of SECTION 11.6 hereof.
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Loss Payee Provisions. If a loss payee is shown on the Declarations page or on an endorsement to this policy, WE may make payment for PHYSICAL DAMAGE coverage to YOU and/or the loss payee, as interests may appear. No loss payee shall have any rights greater than YOUR rights under this policy. When WE pay a loss payee, WE shall be subrogated to the loss payee’s right of recovery, to the extent of OUR payment.
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Loss Payee Provisions. The rental value policy referred to in Section 9.1 (c) shall name Lender as the loss-payee thereunder. Upon the receipt of same, the Lender shall apply the proceeds of such rental value insurance paid to it first to the payment of Basic Rent and then to the payment of taxes, insurance premiums and other items of Supplemental Rent becoming due during the rebuilding and restoration of the Leased Property, and any balance of such proceeds after the completion of such rebuilding and restoration shall be paid to Lessee. Except as provided above in this Section 9.4, all policies of insurance required herein shall name the Lender, Lessor, and Lessee as the insureds as their respective interests may appear. Subject to the provisions and limitations of this Section, all policies referred to in Section 9.1 shall also provide for any loss to be payable to Lender as its interest may appear, pursuant to a standard mortgagee clause or indorsement. The loss, if any, under the policies referred to in Section 9.1 shall be adjusted with the
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Loss Payee Provisions. (a) The hull & machinery / increase value and war risks during the operational phase, in respect of losses for all claim payments are payable into the relevant Borrower’s Offshore Loss Proceeds Account.
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Loss Payee Provisions. Except as provided in Section 9.3, all policies of insurance required herein shall name the Lender, Lessor, and Lessee as the insureds as their respective interests may appear. Subject to the provisions and limitations of this Section, all policies referred to in Section 9.1 shall also provide for any loss to be payable to Lender as its interest may appear, pursuant to a standard mortgagee clause or endorsement. The loss, if any, under the policies referred to in Section 9.1 shall be adjusted with the insurance companies by the Lessee except that no loss shall be adjusted without the prior written approval of the Lender which shall not be unreasonably withheld. The loss, if any, under all policies referred to in Section 9.1 shall be payable to the Lender. All such policies shall expressly provide that loss thereunder shall be adjusted and paid as provided in this Section. Any loss paid to the Lessee under any insurance policy referred to in Section 9.1 shall be held by the Lessee in trust for application to the cost of restoring, repairing, replacing or rebuilding the Improvements. Any loss paid to the Lender shall be disbursed by it in accordance with the provisions of Section 11.6 of this Lease.
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Loss Payee Provisions. The rental value policy referred to in Section 9.1 (c) shall name Lender as the loss-payee thereunder. Upon the receipt of same, the Lender shall apply the proceeds of such rental value insurance paid to it first to the payment of Basic Rent and then to the payment of taxes, insurance premiums and other items of Supplemental Rent becoming due during the rebuilding and restoration of the Leased Property, and any balance of such proceeds after the completion of such rebuilding and restoration shall be paid to Lessee. Except as provided above in this Section 9.4, all policies of insurance required herein shall name the Lender, Lessor, and Lessee as the insureds as their respective interests may appear. Subject to the provisions and limitations of this Section, all policies
Sample 1
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Loss Payee Provisions. If a loss payee is shown on the policy, WE may make payment for PHYSICAL DAMAGE coverage to YOU and the loss payee, as interests appear. PHYSICAL DAMAGE coverage with respect to the interest of a loss payee shall apply, except if the loss results from YOUR conversion, secretion, or embezzlement of YOUR insured car. When WE pay a loss payee, WE shall be subrogated to the loss payee’s right of recovery, to the extent of OUR payment.
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Related to Loss Payee Provisions

  • General Insurance Provisions (i) Any insurance which Tenant is required to maintain under this Lease shall include a provision which requires the insurance carrier to give Landlord not less than thirty (30) days' written notice prior to any cancellation or modification of such coverage.

  • Insurance Provisions Prior to the provision of services under this Contract, the Contractor agrees to purchase all required insurance at Contractor’s expense, including all endorsements required herein, necessary to satisfy the County that the insurance provisions of this Contract have been complied with. Contractor agrees to keep such insurance coverage, Certificates of Insurance, and endorsements on deposit with the County during the entire term of this Contract. In addition, all subcontractors performing work on behalf of Contractor pursuant to this Contract shall obtain insurance subject to the same terms and conditions as set forth herein for Contractor. Contractor shall ensure that all subcontractors performing work on behalf of Contractor pursuant to this Contract shall be covered under Contractor’s insurance as an Additional Insured or maintain insurance subject to the same terms and conditions as set forth herein for Contractor. Contractor shall not allow subcontractors to work if subcontractors have less than the level of coverage required by County from Contractor under this Contract. It is the obligation of Contractor to provide notice of the insurance requirements to every subcontractor and to receive proof of insurance prior to allowing any subcontractor to begin work. Such proof of insurance must be maintained by Contractor through the entirety of this Contract for inspection by County representative(s) at any reasonable time. All self-insured retentions (SIRs) and deductibles shall be clearly stated on the Certificate of Insurance. If no SIRs or deductibles apply, indicate this on the Certificate of Insurance with a zero (0) by the appropriate line of coverage. Any self-insured retention (SIR) or deductible in an amount in excess of $25,000 ($5,000 for automobile liability), which shall specifically be approved by the County Executive Office (CEO)/Office of Risk Management upon review of Contractor’s current audited financial report. If the Contractor fails to maintain insurance acceptable to the County for the full term of this Contract, the County may terminate this Contract.

  • Insurance; Waiver of Subrogation 23.1. Landlord shall maintain insurance for the Building and the Project in amounts equal to full replacement cost (exclusive of the costs of excavation, foundations and footings, engineering costs or such other costs to the extent the same are not incurred in the event of a rebuild and without reference to depreciation taken by Landlord upon its books or tax returns) or such lesser coverage as Landlord may elect, provided that such coverage shall not be less than the amount of such insurance Landlord’s Lender, if any, requires Landlord to maintain, providing protection against any peril generally included within the classification “Fire and Extended Coverage,” together with insurance against sprinkler damage (if applicable), vandalism and malicious mischief. Landlord, subject to availability thereof, shall further insure, if Landlord deems it appropriate, coverage against flood, environmental hazard, earthquake, loss or failure of building equipment, rental loss during the period of repairs or rebuilding, Workers’ Compensation insurance and fidelity bonds for employees employed to perform services. Notwithstanding the foregoing, Landlord may, but shall not be deemed required to, provide insurance for any improvements installed by Tenant or that are in addition to the standard improvements customarily furnished by Landlord, without regard to whether or not such are made a part of or are affixed to the Building.

  • Waiver of Subrogation, Etc Notwithstanding anything to the contrary in this Agreement or in any other Loan Document, and except as set forth in Section 12.7, each Borrower hereby expressly and irrevocably waives any and all rights at law or in equity to subrogation, reimbursement, exoneration, contribution, indemnification or set off and any and all defenses available to a surety, guarantor or accommodation co-obligor. Each Borrower acknowledges and agrees that this waiver is intended to benefit Agent and Lenders and shall not limit or otherwise affect such Borrower’s liability hereunder or the enforceability of this Section 12, and that Agent, Lenders and their respective successors and assigns are intended third party beneficiaries of the waivers and agreements set forth in this Section 12.4.

  • Additional Insurance Requirements The policies shall include, or be endorsed to include, the following provisions:

  • Waiver of Subrogation, Reimbursement and Contribution Notwithstanding anything to the contrary contained in this Guaranty, Guarantor hereby unconditionally and irrevocably waives, releases and abrogates any and all rights it may now or hereafter have under any agreement, at law or in equity (including, without limitation, any law subrogating the Guarantor to the rights of Lender), to assert any claim against or seek contribution, indemnification or any other form of reimbursement from Borrower or any other party liable for payment of any or all of the Guaranteed Obligations for any payment made by Guarantor under or in connection with this Guaranty or otherwise.

  • Waiver of Subrogation Rights (15) Neither the Lessor nor the Lessee shall be liable to the other for loss arising out of damage to or destruction of the Premises, or the building or improvement of which the Premises are a part or with which they are connected, or the contents of any thereof, when such loss is caused by any of the perils which are or could be included within or insured against by a standard form of fire insurance with extended coverage, including sprinkler leakage insurance, if any. All such claims for any and all loss, however caused, hereby are waived. Such absence of liability shall exist whether or not the damage or destruction is caused by the negligence of either Lessor or Lessee or by any of their respective agents, servants or employees. It is the intention and agreement of the Lessor and the Lessee that the rentals reserved by this lease have been fixed in contemplation that both parties shall fully provide their own insurance protection at their own expense, and that both parties shall look to their respective insurance carriers for reimbursement of any such loss, and further, that the insurance carriers involved shall not be entitled to subrogation under any circumstances against any party to this lease. Neither the Lessor nor the Lessee shall have any interest or claim in the other’s insurance policy or policies, or the proceeds thereof, unless specifically covered therein as a joint insured.

  • Additional Insurance Obligations Tenant shall carry and maintain during the entire Lease Term, at Tenant’s sole cost and expense, increased amounts of the insurance required to be carried by Tenant pursuant to this Article 10 and such other reasonable types of insurance coverage and in such reasonable amounts covering the Premises and Tenant’s operations therein, as may be reasonably requested by Landlord or Landlord’s lender, but in no event in excess of the amounts and types of insurance then being required by landlords of buildings comparable to and in the vicinity of the Building.

  • Insurance Indemnity 16.1 The NZOC will arrange travel and public liability insurance for all members of the Team, a summary of which will be provided to you by the NZOC as soon as practicable.

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