Loss Proceeds Account. (a) On or prior to the Closing Date, Borrower shall establish and thereafter maintain with the Cash Management Bank an account for the purpose of depositing any Loss Proceeds (the “Loss Proceeds Account”).
(b) Provided no Event of Default is continuing, funds in the Loss Proceeds account shall be applied in accordance with Section 5.16.
Loss Proceeds Account. (a) Upon the occurrence of a Casualty or Condemnation, Lender will establish and maintain an Eligible Account (which may be a subaccount of the Cash Management Account) for the purpose of depositing any Loss Proceeds (the “Loss Proceeds Account”).
(b) Provided no Event of Default is continuing, funds in the Loss Proceeds Account shall be applied in accordance with Section 5.16.
Loss Proceeds Account. The Borrower and the Security Agent have established with the Securities Intermediary an account entitled the “Stetson Loss Proceeds Account” (account number 0000000) (the “Loss Proceeds Account”). All Loss Proceeds paid or payable to or for the account of the Borrower or any Project Company under any insurance policies maintained by the Borrower or any Project Company or otherwise shall be deposited in the Loss Proceeds Account, except for any such Loss Proceeds that the Security Agent determines the Borrower is entitled to pursuant to the proviso set forth in the definition of Restoration Conditions in the Financing Agreement, which shall be paid to an unrestricted account directed by the Borrower. If the amount of Loss Proceeds received for a single event is $1,500,000 or less and Borrower and the Independent Engineer certify to the satisfaction of the Security Agent, that repair or restoration of the affected portion of the Project is technically and economically feasible prior to the Maturity Date under the Financing Agreement (or, to the extent applicable, such shorter period during which Insurance Proceeds are available under the business interruption insurance maintained by or on behalf of Borrower or any Project Company), and Borrower demonstrates to the Security Agent and the Independent Engineer that a sufficient amount of funds are available to Borrower in the Loss Proceeds Account to make such repairs and restorations, such funds on deposit in the Loss Proceeds Account shall be transferred to the Borrower from time to time to rebuild, repair, restore or replace the affected portion of the Project. If the Borrower elects to satisfy the Restoration Conditions with respect to a single event for Loss Proceeds paid to the Borrower in excess of $1,500,000 and such Restoration Conditions are satisfied, such funds on deposit in the Loss Proceeds Account shall be transferred to the Borrower from time to time to rebuild, repair, restore or replace the affected portion of the Project. If the Borrower elects not to satisfy the Restoration Conditions (or if the Restoration Conditions are not otherwise satisfied) with respect to a single event for Loss Proceeds paid to the Borrower or any Project Company in excess of $1,500,000, such funds on deposit in the Loss Proceeds Account shall be transferred to the Revenue Account to be applied pursuant to Section 6(b).
Loss Proceeds Account. (a) Lender will maintain an Eligible Account (which may be a book-entry subaccount) for the purpose of depositing any Loss Proceeds (the “Loss Proceeds Account”).
(b) Provided no Event of Default is continuing, funds in the Loss Proceeds Account shall be applied in accordance with Section 5.16.
Loss Proceeds Account. (a) Amounts on deposit in the Loss Proceeds Account shall be held therein until distribution in the manner set forth in clauses (b) through (e) below.
(b) Upon the deposit of Loss Proceeds into the Loss Proceeds Account, the Borrower shall deliver to the Depositary Agent an Officer’s Certificate (with copy to the Administrative Agent) setting forth (i) the source of such Loss Proceeds, (ii) the reasonable expenses incurred in respect of the collection of such Loss Proceeds, and (iii) whether the Net Available Amount of such Loss Proceeds is required to be applied to the prepayment of Loans in accordance with Sections 5.11 and 6.3(b) of the Credit Agreement. The Depositary Agent shall transfer the amount representing such reasonable expenses referred to in clause (ii) of the preceding sentence directly to the Project Revenues Collection Account.
(c) In the event that pursuant to Sections 5.11 and 6.3(b) of the Credit Agreement the Borrower is required to prepay the Loans from the Net Available Amount of Loss Proceeds, then the Depositary Agent shall transfer the monies representing the Net Available Amount of such Loss Proceeds to the Administrative Agent in accordance with the instructions of the Administrative Agent for application to the prepayment of the Loans in accordance with Sections 5.11 and 6.3(b) of the Credit Agreement.
(d) In the event that pursuant to Section 5.11 of the Credit Agreement the Borrower shall be required to Restore the Project, then upon delivery to the Depositary Agent (with a copy to the Administrative Agent) of an Officer’s Certificate certifying that all of the conditions set forth in Section 5.11 of the Credit Agreement have been satisfied, the Net Available Amount of Loss Proceeds on deposit in the Loss Proceeds Account shall be applied in accordance with Section 4.13(e) below.
(i) Before any withdrawal and transfer shall be made from the Loss Proceeds Account on a Requisition Date, there shall be filed with the Depositary Agent (with a copy to the Administrative Agent) at least three Business Days prior to such Requisition Date a requisition from the Borrowers’ Agent in the form attached hereto as Exhibit B (a “Restoration Requisition”) dated not more than eight Business Days prior to the Requisition Date on which such withdrawal and transfer is to be made, signed by an Authorized Officer of the Borrowers’ Agent, together with the certificates and other items required to be attached thereto in accordance with Exhibit B.
(i...
Loss Proceeds Account. Amounts on deposit in the Loss Proceeds Account shall be transferred by the Depositary Agent from time to time in accordance with a Funding Date Certificate setting forth the amounts to be transferred, the Persons to receive such transferred amounts and that each such transfer is authorized and otherwise in accordance with the applicable Leases and Participation Agreements. Any income from the investment of monies on deposit in the Loss Proceeds Account shall be transferred to the Revenue Account in accordance with Section 3.13 hereof.
Loss Proceeds Account. All Loss Proceeds shall be deposited in the Collateral Account immediately upon receipt, shall be immediately transferred by the Collateral Agent from the Collateral Account to the Loss Proceeds Account and shall be applied as provided in Section 3.4.3(a)(ii) and Section 6.26 of the Common Agreement.
Loss Proceeds Account. Borrower shall cause all Casualty Insurance Proceeds or Condemnation Proceeds to be paid directly to an account designated by Agent for such purpose and under the sole dominion and control of Agent for the purposes of receiving and disbursing Loss Proceeds (the "LOSS PROCEEDS ACCOUNT"), on behalf of Lenders. If any Loss Proceeds are received by Borrower, the same shall be received in trust for Lenders, shall be segregated from other funds of Borrower, and shall be paid directly to the Loss Proceeds Account to be applied or disbursed in accordance with this Agreement. Borrower hereby authorizes and directs any affected insurance company to make payment of Loss Proceeds directly to the Loss Proceeds Account and Borrower agrees to execute such additional instruments as any such affected insurance company may request as a condition to making such payment of Loss Proceeds.
Loss Proceeds Account. There is hereby created and established a special, segregated and irrevocable account of the Borrower entitled the “[***]” for the benefit of WILMINGTON TRUST, NATIONAL ASSOCIATION as Collateral Agent (the “Loss Proceeds Account”) to be maintained with the Depositary Bank, having account number [***]. No payments shall be made out of such account except for the purposes and on the terms herein stated.
Loss Proceeds Account. On or prior to the Closing Date, Borrower and Administrative Agent shall establish at the Depositary Agent's New York Office the Loss Proceeds Account, and within the Loss Proceeds Account a sub-account for each Initial Project (other than Substituted Initial Projects). On or prior to the initial funding of Construction Loans in respect of a Substituted Initial Project or a Subsequent Project, Borrower and Administrative Agent shall establish a sub-account within the Loss Proceeds Account for such Project. Except where a Project Document for a Funded Project that is not directly or indirectly wholly-owned by Borrower may, with the approval of the Technical Committee, direct otherwise, all Insurance Proceeds, Eminent Domain Proceeds and damage payments described in Section 7.7 shall be deposited in the appropriate subaccount in the Loss Proceeds Account and applied (a) as specified in Sections 7.5 through 7.7 and (b) if no such application is specified, to the prepayment of the Loans, and thereafter to payment of all other Obligations of Borrower.
