Notice; Restoration. If the Property is damaged or destroyed, in whole or in part, by fire or other casualty (a “Casualty”), Borrower shall give prompt notice thereof to Lender. Following the occurrence of a Casualty, Borrower, regardless of whether insurance proceeds are available, shall promptly proceed to restore, repair, replace or rebuild the Property in accordance with Legal Requirements to be of at least equal value and of substantially the same character as prior to such damage or destruction.
Appears in 16 contracts
Samples: Loan Agreement (OVERSTOCK.COM, Inc), Loan Agreement (Broad Street Realty, Inc.), Loan Agreement
Notice; Restoration. If the Property is damaged or destroyed, in whole or in part, by fire or other casualty (a “Casualty”), Borrower shall give prompt notice thereof to Lender. Following the occurrence of a Casualty, Borrower, regardless of whether insurance proceeds are availableavailable (unless Lender has breached its obligation (if any) to make such insurance proceeds available pursuant to Section 7.4.1), shall promptly proceed to restore, repair, replace or rebuild the Property in accordance with Legal Requirements to be of at least equal value and of substantially the same character as prior to such damage or destruction.
Appears in 7 contracts
Samples: Loan Agreement (Behringer Harvard Opportunity REIT I, Inc.), Loan Agreement (Behringer Harvard Reit I Inc), Loan Agreement (Thomas Properties Group Inc)
Notice; Restoration. If the Property is damaged or destroyed, in whole or in part, by fire or other casualty (a “Casualty”"CASUALTY"), Borrower Borrowers shall give prompt notice thereof to Lender. Following the occurrence of a Casualty, BorrowerBorrowers, regardless of whether insurance proceeds are available, shall promptly proceed to restore, repair, replace or rebuild the Property in accordance with Legal Requirements to be of at least equal value and of substantially the same character as prior to such damage or destruction.
Appears in 5 contracts
Samples: Loan Agreement (Behringer Harvard Reit I Inc), Loan Agreement (Behringer Harvard Reit I Inc), Loan Agreement (Behringer Harvard Reit I Inc)
Notice; Restoration. If the Property is damaged or destroyed, in whole or in part, by fire or other casualty (a “Casualty”), Borrower shall will give prompt notice thereof to Lender. Following the occurrence of a Casualty, Borrower, regardless of whether insurance proceeds are available, shall will promptly proceed to restore, repair, replace or rebuild the Property in accordance with Legal Requirements to be of at least equal value and of substantially the same character as prior to such damage or destruction.
Appears in 3 contracts
Samples: Loan Agreement (Lodging Fund REIT III, Inc.), Loan Agreement (Lodging Fund REIT III, Inc.), Loan Agreement (Lodging Fund REIT III, Inc.)
Notice; Restoration. If the any Property is damaged or destroyed, in whole or in part, by fire or other casualty (a “Casualty”), Borrower Borrowers shall give prompt notice thereof to Lender. Following the occurrence of a Casualty, BorrowerBorrowers, regardless of whether insurance proceeds are available, shall promptly proceed to restore, repair, replace or rebuild the affected Property in accordance with Legal Requirements to be of at least equal value and of substantially the same character as prior to such damage or destruction.
Appears in 3 contracts
Samples: Loan Agreement (GTJ Reit, Inc.), Loan Agreement (American Finance Trust, Inc), Loan Agreement (Supertel Hospitality Inc)
Notice; Restoration. If the Property is damaged or destroyed, in whole or in part, by fire or other casualty (a “"Casualty”"), Borrower shall give prompt notice thereof to Lender. Following the occurrence of a Casualty, Borrower, regardless of whether insurance proceeds are available, shall promptly proceed to restore, repair, replace or rebuild the Property in accordance with Legal Requirements to be of at least equal value and of substantially the same character as prior to such damage or destruction.
Appears in 3 contracts
Samples: Loan Agreement (Medalist Diversified REIT, Inc.), Loan Agreement (Medalist Diversified REIT, Inc.), Loan Agreement (First Union Real Estate Equity & Mortgage Investments)
Notice; Restoration. If the any Property is damaged or destroyed, in whole or in part, by fire or other casualty (a “Casualty”), Borrower Borrowers shall give prompt notice thereof to Lender. Following the occurrence of a Casualty, BorrowerBorrowers, regardless of whether insurance proceeds are available, shall promptly proceed to restore, repair, replace or rebuild the Property in accordance with Legal Requirements to be of at least equal value and of substantially the same character as prior to such damage or destruction.
Appears in 1 contract
Samples: Loan Agreement (Inland Diversified Real Estate Trust, Inc.)
Notice; Restoration. If the Property is damaged or destroyed, in whole or in part, by fire or other casualty (a “Casualty”), Borrower shall give prompt notice thereof to Lender. Following the occurrence of a Casualty, Borrower, regardless of whether insurance proceeds are available, shall promptly proceed to restore, repair, replace or rebuild the Property in accordance with Legal Requirements to be of at least equal value and of substantially the same character as prior to such damage or destruction.. 52
Appears in 1 contract
Notice; Restoration. If the any Property is damaged or destroyed, ------------------- in whole or in part, by fire or other casualty (a “Casualty”"Casualty "), Borrower shall give prompt notice thereof to Lender. Following the occurrence of a Casualty, Borrower, regardless of whether insurance proceeds are available, shall promptly proceed to restore, repair, replace or rebuild the affected Property in accordance with Legal Requirements to be of at least equal value and of substantially the same character as prior to such damage or destruction.
Appears in 1 contract
Notice; Restoration. If the Property is damaged or destroyed, in whole or in part, by fire or other casualty (a “Casualty”), Borrower shall will give prompt notice thereof to Lender. Following the occurrence of a Casualty, Borrower, regardless of whether insurance proceeds are available, shall will promptly proceed to restore, repair, replace or rebuild the Property in accordance with Legal Requirements to be of at least equal value and of substantially the same character as prior to such damage or destruction.
Appears in 1 contract
Notice; Restoration. If the Property is damaged or destroyed, in whole or in part, by fire or other casualty (a “Casualty”), Borrower shall give prompt notice thereof to Lender. Following the occurrence of a Casualty, Borrower, regardless of whether insurance proceeds are available, shall promptly proceed to restore, repair, replace or rebuild the Property in accordance with Legal Requirements to be of at least equal value and of substantially the same character as prior to such damage or destruction.. Table of Contents
Appears in 1 contract
Notice; Restoration. If the Property is damaged or destroyed, in whole or in part, by fire or other casualty (a “Casualty”), Borrower shall give prompt notice thereof to Lender. Following the occurrence of a Casualty, Borrower, regardless of whether insurance proceeds are available, shall promptly commence and proceed to restore, repair, replace or rebuild the Property within a reasonable period of time after the Casualty, in accordance with Legal Requirements to Requirements, such that the Property when restored shall be of at least equal value and of substantially the same character as prior to such damage or destruction.
Appears in 1 contract
Notice; Restoration. If the Property is shall be damaged or destroyed, in whole or in part, by fire or other casualty (a “Casualty”"CASUALTY"), Borrower shall give prompt notice thereof to Lender. Following the occurrence of a Casualty, Borrower, regardless of whether insurance proceeds are available, shall promptly proceed to restore, repair, replace or rebuild the Property in accordance with Legal Requirements same to be of at least equal value and of substantially the same character as prior to such damage or destruction.destruction (a "CASUALTY RESTORATION"), all to be effected in accordance with applicable law
Appears in 1 contract
Notice; Restoration. If the an Individual Property is damaged or destroyed, in whole or in part, by fire or other casualty (a “Casualty”), Borrower shall give prompt notice thereof to Lender. Following the occurrence of a Casualty, Borrower, regardless of whether insurance proceeds are available, shall promptly proceed to restore, repair, replace or rebuild the applicable Individual Property in accordance with Legal Requirements to be of at least equal value and of substantially the same character as prior to such damage or destruction.
Appears in 1 contract
Notice; Restoration. If the any Property is damaged or destroyed, in whole or in part, by fire or other casualty (a “"Casualty”"), Borrower Borrowers shall give prompt notice thereof to Lender. Following the occurrence of a Casualty, BorrowerBorrowers, regardless of whether insurance proceeds are available, shall promptly proceed to restore, repair, replace or rebuild the affected Property in accordance with Legal Requirements to be of at least equal value and of substantially the same character as prior to such damage or destruction.
Appears in 1 contract
Notice; Restoration. If the any Property is damaged or destroyed, in whole or in part, by fire or other casualty (a “Casualty”"CASUALTY"), Borrower Borrowers shall give prompt notice thereof to Lender. Following the occurrence of a Casualty, BorrowerBorrowers, regardless of whether insurance proceeds are available, shall promptly proceed to restore, repair, replace or rebuild the such Property in accordance with Legal Requirements to be of at least equal value and of substantially the same character as prior to such damage or destruction.
Appears in 1 contract
Samples: Loan Agreement (Acadia Realty Trust)
Notice; Restoration. If the any Property is damaged or destroyed, in whole or in part, by fire or other casualty (a “Casualty”"CASUALTY"), Borrower Borrowers shall give prompt notice thereof to Lender. Following the occurrence of a Casualty, BorrowerBorrowers, regardless of whether insurance proceeds are available, shall promptly proceed to restore, repair, replace or rebuild the affected Property in accordance with Legal Requirements to be of at least equal value and of substantially the same character as prior to such damage or destruction.
Appears in 1 contract
Samples: Loan Agreement (Lodgian Inc)
Notice; Restoration. If the Property is damaged or destroyed, in whole or in part, by fire or other casualty (a “Casualty”), Borrower shall give prompt notice thereof to Lender. Following the occurrence of a Casualty, Borrower, regardless of whether insurance proceeds are availableavailable for restoration, shall promptly proceed to restore, repair, replace or rebuild the Property in accordance with Legal Requirements Requirements, the Severance Lease, the Condominium Documents and the Net Lease to be of at least equal value and of substantially the same character as prior to such damage or destruction.
Appears in 1 contract
Samples: Loan Agreement (Corporate Property Associates 17 - Global INC)