Common use of Payment of Insurance Clause in Contracts

Payment of Insurance. The insurance required by Subsection (a) and (b) of this Section, whether obtained by Manager on behalf of Owner or by Owner directly, shall be an operating expense of the applicable Property and paid from such Property's revenues or reserves or by the Owner, as directed by the Owner. The insurance coverage required pursuant to Subsection (c) shall be paid for by the Manager from its own funds.

Payment of Insurance. The insurance required by Subsection (a) and (b) of this Section, whether obtained by the Manager on behalf of the Owner or by the Owner directly, shall be an operating expense of the applicable Property and paid from such Property's revenues or reserves or by the Owner, as directed by the Owner. The insurance coverage required pursuant to Subsection (c) shall be paid for by the Manager from its own funds.