Payment of Insurance Proceeds. The property damage proceeds under the builder’s risk policy shall be paid as follows with respect to any one occurrence:
Payment of Insurance Proceeds. All insurance proceeds paid with respect to any damage or destruction of the Property shall be paid to Landlord. Subject to the provisions of paragraph 13 hereof and the terms and provisions of the Mortgage, Landlord agrees to pay over (or caused to be paid over) to Tenant, from time to time, for disbursement through a customary construction escrow with a national title insurance company reasonably acceptable to Landlord and upon submission to such title insurance company of documentation, including, without limitation, sworn statements and partial and final lien waivers, as such company deems necessary to issue its interim endorsements to Landlord's title policy, insuring against mechanic's lien claims arising from such repair and/or restoration, and upon the following terms, any moneys which may be received by Landlord from insurance provided by Tenant; but in no event to any extent or in any sum exceeding the amount actually collected by Landlord upon the loss; provided, however, that Landlord before paying such monies over to Tenant shall be entitled to reimburse itself therefrom to the extent, if any, of the necessary and proper expenses paid or incurred by Landlord in the collection of such moneys (such net amount being hereafter referred to as the "Insurance Proceeds"). Landlord shall pay to Tenant, as hereinafter provided, the aforesaid Insurance Proceeds, for the purpose of repairs or restoration to be made by Tenant to restore the Demised Premises to a value which shall be not less than its value prior to such fire or other casualty. Prior to the making of any repair Tenant shall furnish Landlord with an estimate of the cost of such repairs, prepared by a licensed architect, reasonably approved by Landlord, and such Insurance Proceeds shall be paid to the Tenant from time to time thereafter in installments as the making of such repairs or restorations progresses upon application to be submitted by Tenant to Landlord showing the cost of labor and material incorporated in such repairs or restorations, or incorporated therein since the last previous application, and paid for by Tenant. If any mechanic's lien is filed against the Demised Premises, Tenant shall not be entitled to receive any further installment until such lien is satisfied or otherwise discharged, unless such lien is to be satisfied out of such further installment and should not have been satisfied out of a previous installment. The amount of any installment to be paid to Tenant shall...
Payment of Insurance Proceeds. With respect to any loss to the Common Area covered by property insurance obtained by the Association in accordance with this Article, the loss shall be adjusted with the Association and the insurance proceeds shall be payable to the Association and not to any mortgagee. Subject to the provisions of Section 10.7 of this Article, the proceeds shall be disbursed for the repair or restoration of the damage to Common Area.
Payment of Insurance Proceeds. All insurance money paid to Lessee on account of such damage or destruction under the policies of insurance provided for in Article 5, less the cost, if any, incurred in connection with the adjustment of the loss and the collection thereof (the “Insurance Proceeds”), shall be applied by Lessee to the payment of the cost of the Work to the extent such Insurance Proceeds shall be sufficient for the purpose. If the Insurance Proceeds received by Lessee shall not be sufficient to pay the entire cost of the Work or if Lessee finds that the Work is otherwise not economically justified, Lessee may elect not to repair and replace the Permitted Improvements, and to terminate this Lease pursuant to Section 13.1.
Payment of Insurance Proceeds. For any damage to the Premises caused by a peril covered by insurance required under this Lease to be carried and maintained by Tenant, the proceeds shall be paid directly to the Tenant for the purpose of making the necessary repairs to the Premises.
Payment of Insurance Proceeds. All insurance proceeds related to the damage or destruction of the Premises shall be paid to Landlord and held in an account. All insurance proceeds shall be applied by Xxxxxxxx to pay for the cost of the Work to the extent the insurance proceeds are sufficient to do so. Insurance proceeds shall be paid out of the account as the Work progresses. Landlord shall make the payments only upon receipt of written request by Xxxxxx, which shall include all the following:
Payment of Insurance Proceeds. As between Lessor and Lessee, all insurance proceeds on account of such damage or destruction under the policies of insurance provided for in Section 5 or otherwise shall be paid to Lessee, unless such proceeds are specifically designated to compensate the City as an additional insured. If Lessee elects to restore or repair the Improvements and the insurance proceeds are not sufficient to pay the entire cost of the Work, Lessee shall solely be responsible for paying the amount of any such deficiency. Under no circumstances shall Lessor be obligated to make any payment, reimbursement, or contribution towards the cost of the Work.
Payment of Insurance Proceeds. (a) Proceeds of any policies of liability insurance required hereunder shall be applied toward extinguishment or satisfaction of the liability with respect to which the insurance proceeds shall have been paid.
Payment of Insurance Proceeds. Every policy of the insurance described in Section 6.1 shall be issued to cover and insure all the several interests in the buildings, improvements, fixtures and rent required to be insured in Section 6.1 of the Lease, the Lessor and any Mortgagees under any mortgage of this Lease, as their respective interests are defined in this section below, and shall be made payable in case of loss or damage to the respective parties as their interests may appear. The respective interest of the Lessor, the Lessee and any Mortgagees in any proceeds of the insurance required in Section 6.1 above payable for insured loss or damage shall be fixed and determined as of the date of such loss or damage.
Payment of Insurance Proceeds. In the event that proceeds of insurance are to be used to repair, replace, restore or reconstruct improvements destroyed by Casualty ("Restoration"), the following provisions shall pertain:
