Payment for Rebuilding Sample Clauses

Payment for Rebuilding. Provided that the insurer does not deny liability as to the insureds, and provided Tenant is not then in default hereunder, all sums arising by reason of loss under the insurance referred to in Section 6.2.2(a), (b) and (c) shall be deposited with (he Depositary (as hereinafter defined) to be available to Tenant for the work. Tenant shall deposit with the Depositary any excess cost of the work over the amount held by the Depositary as proceeds of the insurance within thirty (30) days after the date of the determination of the cost of the work by the architect in accordance with Section 7.2(a) or, if the insurer has denied liability as to the insureds, or if Tenant is then in default hereunder, then Tenant shall deposit the full amount of the cost of the work with the Depositary. Tenant shall diligently pursue the repair or rebuilding of the improvements in a good and workmanlike manner using only high quality union workers and materials. The Depositary shall pay out construction funds from time to time on the written direction of the architect provided that the Depositary and Landlord shall first be furnished with waivers of lien, contractors, and subcontractors sworn statements and other evidence of cost and payments so that the Depositary can verify that the amounts disbursed from time to time are represented by completed and in-place work, and that said work is free and clear of possible mechanics liens. No payment made prior to the final completion of the work shall exceed ninety percent (90%) of the value of the work completed and in place from time to time. At all times the undisbursed balance remaining in the hands of Depositary shall be at least sufficient to pay for the cost of completion of the work free and clear of liens. Any deficiency shall be paid into the Depositary by Tenant. Depositary, as used herein, shall be any first mortgagee of the Leased Premises, or the Landlord if there is no first mortgagee of the Leased Premises or if such first mortgagee has refused to act as Depositary.
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Payment for Rebuilding. All insurance proceeds collected under the insurance referred to in Subsection 6.1(a) above shall be held by Tenant, or deposited with the Leasehold Mortgagee to be made available to Tenant for repairs and restorations of the Premises required to be made by Tenant hereunder. The Leasehold Mortgagee shall pay out such funds from time to time upon the written direction of Tenant’s architect, provided the Leasehold Mortgagee and Landlord shall first be furnished with waivers of lien, contractors and subcontractors sworn statements and such other evidence of costs and payments so that the Leasehold Mortgagee can verify that the amounts disbursed from time to time are represented by completed in-place work and that said work is free and clear of possible mechanic’s liens. Any excess funds remaining with the Leasehold Mortgagee after the completion of such repair or restoration of the Premises shall be paid to Tenant. Rent hereunder shall not xxxxx and Tenant shall remain liable for the payment of Rent and all real estate taxes and other Impositions payable by Tenant pursuant to Article IV above during the period of any restoration. Notwithstanding the foregoing to the contrary, in the event Tenant encumbers its interest in the Premises, insurance proceeds may be disbursed in accordance with the terms and provisions of such leasehold mortgage, and Leasehold Mortgagee may, in its reasonable discretion, direct that any such insurance proceeds be applied to the repayment of Tenant’s indebtedness to Leasehold Mortgagee.
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Payment for Rebuilding. All sums arising by reason of loss under the insurance referred to in Section 21.02(c) shall be deposited with the Depository pursuant to Section 15.06, and Tenant shall deposit with the Depository any excess cost of the work over the amount held by the Depository as proceeds of the insurance within thirty (30) days from the date of the determination of the cost of the work by the architect in accordance with Section 15.02. Tenant shall diligently pursue the repair or rebuilding of the improvements in a good and workmanlike manner, using only high quality workmen and materials. The Depository shall pay out construction funds from time to time on the written direction of the architect, after making provision for a reasonable holdback, for the purpose of completing such repair or rebuilding and upon receipt of appropriate contractors' statements, with supporting affidavits and lien waivers. Notwithstanding the foregoing, if the cost of the repair or restoration is less than $50,000, all proceeds of insurance shall be paid to Tenant in trust to be used for restoration and repair of such damage.
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Payment for Rebuilding. 5 7.3 Excess Receipts by Landlord. . . . . . . . . . . . . . . . . 5 7.4 Failure to Rebuild . . . . . . . . . . . . . . . . . . . . . 5
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Payment for Rebuilding. If this Lease is not terminated pursuant to Section 7.0 and provided that the insurer does not deny liability as to all of the insureds, and provided Tenant is not then in default hereunder, all sums arising by reason of loss under the insurance referred to in Section 6.0(a), shall be held by Landlord to be available for the Work. The party obligated to perform the Work shall diligently pursue the repair or rebuilding of the improvements in a good and workmanlike manner. Landlord shall pay out construction funds from time to time on the written direction of the architect provided that Landlord shall first be furnished with waivers of lien, contractors, and subcontractors sworn statements and other evidence of cost and payments so that Landlord can verify that the amounts disbursed from time to time are represented by completed and in-place Work, and that said Work is free and clear of possible mechanics liens. No payment made prior to the final completion of the Work shall exceed ninety per cent (90%) of the value of the work completed and in place from time to time.
Sample 1
Payment for Rebuilding. Unless Tenant elects to terminate this Lease ---------------------- in accordance with Section 7.1 herein or Landlord's mortgagee does not make the insurance proceeds available to Tenant in accordance with the terms set forth below in this Section 7.3, all sums arising by reason of loss under the insurance referred to in subsections (b), (e) and (f) of Section 6.1 shall be deposited with a fiduciary institution for the benefit of Tenant's obligation to rebuild in accordance herewith and such proceeds shall be disbursed on a monthly basis on terms consistent with prudent construction funding practices, including, without limitation, receipt by the fiduciary institution of appropriate contractors' statements and supporting affidavits and lien waivers. Tenant shall deposit INITIAL HERE: Landlord: Tenant: DK RP --------- -------- with the Landlord any excess cost of the work over the amount held as proceeds of the insurance within thirty (30) days from the date of the determination of the cost of the work in accordance with subsection 7.2(a), but only if such excess costs exceed $1,000,000.00. Tenant shall diligently pursue the repair or rebuilding of the applicable Improvements in a safe, sanitary, lawful, good and workmanlike manner, using only high quality workmen and materials, and complete all repairs and rebuilding within a reasonable period of time following Tenant's receipt of insurance proceeds, Landlord's approval of the plans for the restoration and Tenant's obtaining any and all necessary licenses, permits and approvals, but in no event later than 18 months following such events, subject to extensions of one (1) day for each day delay is occasioned by delays caused by acts of Landlord, its officers, employees or contractors or "Force Majeure" (hereinafter defined). Notwithstanding anything contained herein to the contrary, if Landlord's mortgagee does not make the insurance proceeds available to Tenant for rebuilding of the Improvements because the casualty occurs within six (6) months of the maturity date of mortgagee's loan (in which event Tenant agrees to relinquish any claim to such proceeds for such rebuilding and Landlord shall reimburse Tenant for the most recent annual premium for casualty insurance), then either Landlord or Tenant shall have the right to terminate this Lease six (6) months after such casualty if Landlord, despite its good faith and diligent efforts, is unable to provide an alternative source of construction financing for r...
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Payment for Rebuilding. Provided that the insurer does not deny liability as to the insureds, all sums arising by reason of loss under the insurance referred to in Section 6.2(b), shall, subject to reasonable conditions of Lender, be deposited with the Depositary (as hereinafter defined) to be available to Tenant for the work. Tenant shall diligently pursue the repair or rebuilding of the improvements in a good and workmanlike manner using only high quality workers and materials. The Depositary shall pay out construction funds from time to time on the written direction of the architect provided that the Depositary and Landlord shall first be furnished with waivers of lien, contractors, and subcontractors sworn statements and other evidence of cost and payments so that the Depositary can verify that the amounts disbursed from time to time are represented by completed and in-place work, and that said work is free and clear of possible mechanics liens. No payment made prior to the final completion of the work shall exceed ninety percent (90%) of the value of the work completed and in place from time to time. Any deficiency to complete the work shall be paid into the Depositary by Tenant as and when due. Depositary, as used herein, shall be a title company selected by Tenant.
Sample 1
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Payment for Rebuilding. Before the Tenant commences any repairs or restorations, the Tenant shall furnish to the Landlord satisfactory evidence of sufficient contractor’s comprehensive general liability insurance covering the Landlord, builders’ risk insurance and xxxxxxx’x compensation insurance.
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Related to Payment for Rebuilding

  • Payment for Improvements If payment is made directly to contractors, Tenant shall (i) comply with Landlord's requirements for final lien releases and waivers in connection with Tenant's payment for work to contractors, and (ii) sign Landlord's standard contractor's rules and regulations. If Tenant orders any work directly from Landlord, Tenant shall pay to Landlord an amount equal to five percent of the cost of such work to compensate Landlord for all overhead, general conditions, fees and other costs and expenses arising from Landlord's involvement with such work. If Tenant does not order any work directly from Landlord, Tenant shall reimburse Landlord for Landlord's reasonable, actual, out-of-pocket costs and expenses actually incurred in connection with Landlord's review of such work.

  • Payment for Consent Neither the Company nor any Affiliate of the Company shall, directly or indirectly, pay or cause to be paid any consideration, whether by way of interest, fee or otherwise, to any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture or the Securities unless such consideration is offered to be paid to all Holders that so consent, waive or agree to amend in the time frame set forth in solicitation documents relating to such consent, waiver or agreement.

  • Payment for Consents No Borrower will, directly or indirectly, pay any remuneration or other thing of value, whether by way of additional interest, fee or otherwise, to any Lender (in its capacity as a Lender hereunder) as consideration for agreement by such Lender with any modification of any Loan Documents, unless such remuneration or value is concurrently paid, on the same terms, on a Pro Rata basis to all Lenders providing their consent.

  • Acquisition of Warrant for Personal Account The Holder represents and warrants that it is acquiring the Warrant and the Exercise Shares solely for its account for investment and not with a view to or for sale or distribution of said Warrant or Exercise Shares or any part thereof. The Holder also represents that the entire legal and beneficial interests of the Warrant and Exercise Shares the Holder is acquiring is being acquired for, and will be held for, its account only.

  • Acceptance for Payment and Payment for Shares Upon the terms and subject to the conditions of the Offer (including, if the Offer is extended, amended or supplemented, the terms and conditions of any such extension, amendment or supplement), the Purchaser will accept for payment and will purchase all Shares validly tendered and not properly withdrawn on or prior to the Expiration Date as soon as practicable after the later to occur of (i) the Expiration Date and (ii) the satisfaction or waiver of the conditions of the Offer set forth in Section 10. In any case, payment for Shares purchased pursuant to the Offer will be made only after timely receipt by the Depositary of (a) certificates for such Shares or timely confirmation (a "Book-Entry Confirmation") of the book-entry transfer of such Shares into the Depositary's account at The Depository Trust Company or the Philadelphia Depository Trust Company (collectively, the "Book-Entry Transfer Facilities"), pursuant to the procedures described herein, (b) the Letter of Transmittal (or a facsimile thereof), properly completed and duly executed, and (c) any other documents required by the Letter of Transmittal. In addition, the Purchaser expressly reserves the right, in its sole discretion, to delay the acceptance of payment of, or payment for, Shares in order to comply in whole or in part with any applicable law. Any such delays will be effected in compliance with Rule 14e-1(c) under the Exchange Act, which requires that a person who makes a tender offer pay the consideration offered or return tendered securities promptly after the termination or withdrawal of a tender offer. The Purchaser believes that the Xxxx-Xxxxx-Xxxxxx Antitrust Improvements Act of 1976, as amended, and the rules and regulations promulgated thereunder (the "HSR Act") are not applicable to the Purchaser's purchase of Shares pursuant to the Offer. However, if the HSR Act were deemed to be applicable to the purchase of Shares pursuant to the Offer, the consummation of the Offer could be delayed pending compliance therewith. For purposes of the Offer, the Purchaser will be deemed to have accepted for payment, and thereby purchased, Shares validly tendered and not withdrawn prior to the Expiration Date as, if and when the Purchaser gives oral or written notice to the Depositary of the Purchaser's acceptance of such Shares for payment pursuant to the Offer. In all cases, upon the terms and subject to the conditions of the Offer, payment for Shares purchased pursuant to the Offer will be made by deposit of the purchase price therefor with the Depositary, which will act as agent for tendering stockholders for the purpose of receiving payment from the Purchaser and transmitting payment to validly tendering stockholders. Under no circumstances will interest on the purchase price for Shares be paid by the Purchaser by reason of any delay in making such payment. If, for any reason whatsoever, acceptance for payment of or payment for any Shares tendered pursuant to the Offer is delayed, or the Purchaser is unable to accept for payment or pay for Shares tendered pursuant to the Offer, then, without prejudice to the Purchaser and subject to Rule 14e-1(c) under the Exchange Act, retain tendered Shares and such Shares may not be withdrawn except to the extent that the tendering stockholder is entitled to and duly exercises withdrawal rights as described herein. If any tendered Shares are not accepted for payment or purchased pursuant to the Offer for any reason, or if certificates are submitted evidencing more Shares than are tendered, certificates for such unpurchased or untendered Shares will be returned, without expense to the tendering stockholder (or, in the case of Shares delivered by book-entry transfer into the Depositary's account at a Book-Entry Transfer Facility, such Shares will be credited to an account maintained within such Book-Entry Transfer Facility) as promptly as practicable following the expiration, termination or withdrawal of the Offer. If, on or prior to the Expiration Date, the Purchaser increases the consideration offered to stockholders pursuant to the Offer, such increased consideration would be paid to all holders of Shares that are purchased pursuant to the Offer, whether or not such Shares were tendered prior to such increase in consideration. Procedures for Accepting the Offer and Tendering Shares.

  • Payment for Services Contractor shall exert reasonable and diligent efforts to collect prompt payment from the Commonwealth. Contractor shall pay Subcontractor in proportion to amounts received from the Commonwealth which are attributable to the Services performed by Subcontractor. Contractor shall pay Subcontractor within fourteen (14) days after the Contractor receives such payment from the Commonwealth, unless the parties expressly agree upon a different payment schedule or structure as set forth below: ______________________________________________________________________________________________________________________________________________________________________________________________________________________________________.

  • Payment for Securities (a) Payment for the Securities in the amount of the Subscription Amount (less any amounts that the Subscriber elects to net against such amount pursuant to the terms of the Side Letter, dated as of the date of the Closing, between the Company, the Subscriber and the other parties thereto) shall be received by the Company from the Subscriber by wire transfer of immediately available funds to the account below prior to the Closing (such account, the “Company Account”). Such payment shall be received into the Company Account no later than December 22, 2011, or such other date thereafter as the Company may designate in writing. Wire Instructions: Bank: HSBC Bank USA 000 0xx Xxxxxx Xxx Xxxx, XX 00000 X.X.X. Swift Address: MRMD US33 Further Credit: HSBC Bank Bermuda Limited Head Office, Front Street Xxxxxxxx XX 11 Bermuda SWIFT: BBDA BMHM Final Credit: Third Point Reinsurance Ltd. Account No.: 000-000000-000 USD

  • PAYMENT FOR INSURANCE Lessee shall pay for all insurance required under Paragraph 8 except to the extent of the cost attributable to liability insurance carried by Lessor under Paragraph 8.2(b) in excess of $2,000,000 per occurrence. Premiums for policy periods commencing prior to or extending beyond the Lease term shall be prorated to correspond to the Lease term. Payment shall be made by Lessee to Lessor within ten (10) days following receipt of an invoice.

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