Common use of Notice of Property Loss Clause in Contracts

Notice of Property Loss. If any Facility is damaged in excess of $250,000 as the result of any Property Loss, (a) Tenant shall give prompt notice thereof to Landlord and any Facility Mortgagee, in no event more than five Business Days after the occurrence of such Property Loss and (b) within 15 days after the occurrence of such Property Loss, or as soon thereafter as such information is reasonably available to Tenant, Tenant shall provide Landlord the following information: (1) the date of the Property Loss and the identity of the Facility experiencing the Property Loss; (2) the nature of the Property Loss; (3) a description of the damage or destruction caused by the Property Loss, the area of such Facility damaged and the general extent of such damage; (4) a preliminary estimate of the cost to repair, rebuild, restore or replace such Facility; (5) a preliminary estimate of the schedule to complete the repair, rebuilding, restoration or replacement of such Facility; (6) a description of the anticipated property insurance claim, including the name of the insurer, the insurance coverage limits, the deductible amounts, the expected settlement amount and the expected settlement date; and (7) a description of the business interruption claim, including the name of the insurer, the insurance coverage limits, the deductible amounts, the expected settlement amount and the expected settlement date. Tenant shall provide Landlord with copies of any and all material correspondence to and from the insurance provider(s) within five Business Days after Tenant’s receipt or submission thereof and provide any other information reasonably requested by Landlord.

Notice of Property Loss. If any Facility Hospital is damaged in excess of $250,000 5,000,000 as the result of any Property Loss, (a) Tenant shall give prompt notice thereof to Landlord and any Facility MortgageeMortgagee (of which Tenant has been provided prior written notice), in no event more than five (5) Business Days after the occurrence of such Property Loss and (b) within 15 thirty (30) days after the occurrence of such Property Loss, or as soon thereafter as such information is reasonably available to Tenant, Tenant shall provide Landlord the following information: (1) the date of the Property Loss and the identity of the Facility Hospital experiencing the Property Loss; (2) the nature of the Property Loss; (3) a description of the damage or destruction caused by the Property Loss, the area of such Facility Hospital damaged and the general extent of such damage; (4) a preliminary estimate of the cost to repair, rebuild, restore or replace such FacilityHospital; (5) a preliminary estimate of the schedule to complete the repair, rebuilding, restoration or replacement of such FacilityHospital; (6) a description of the anticipated property insurance claim, including the name of the insurer, the insurance coverage limits, the deductible amounts, the expected settlement amount and the expected settlement date; and (7) a description of the business interruption claim, including the name of the insurer, the insurance coverage limits, the deductible amounts, the expected settlement amount and the expected settlement date. Tenant shall provide Landlord with copies of any and all material correspondence to and from the insurance provider(s) within five Business Days after TenantXxxxxx’s receipt or submission thereof and provide any other information reasonably requested by Landlord.

Notice of Property Loss. If any Facility Hospital is damaged in excess of $250,000 5,000,000 as the result of any Property Loss, (a) Tenant shall give prompt notice thereof to Landlord and any Facility MortgageeMortgagee (of which Tenant has been provided prior written notice), in no event more than five (5) Business Days after the occurrence of such Property Loss and (b) within 15 thirty (30) days after the occurrence of such Property Loss, or as soon thereafter as such information is reasonably available to Tenant, Tenant shall provide Landlord the following information: (1) the date of the Property Loss and the identity of the Facility Hospital experiencing the Property Loss; (2) the nature of the Property Loss; (3) a description of the damage or destruction caused by the Property Loss, the area of such Facility Hospital damaged and the general extent of such damage; (4) a preliminary estimate of the cost to repair, rebuild, restore or replace such FacilityHospital; (5) a preliminary estimate of the schedule to complete the repair, rebuilding, restoration or replacement of such FacilityHospital; (6) a description of the anticipated property insurance claim, including the name of the insurer, the insurance coverage limits, the deductible amounts, the expected settlement amount and the expected settlement date; and (7) a description of the business interruption claim, including the name of the insurer, the insurance coverage limits, the deductible amounts, the expected settlement amount and the expected settlement date. Tenant shall provide Landlord with copies of any and all material correspondence to and from the insurance provider(s) within five Business Days after Tenant’s receipt or submission thereof and provide any other information reasonably requested by Landlord.