Proceeds of Business Interruption Insurance. The net proceeds of the Business Interruption Insurance maintained in accordance with Section 14.1 (after the application of any deductible) shall be deposited in the Operating Account and used by Manager in the same manner as funds generated from the Operation of the Managed Facility are used by Manager in accordance with this Agreement, including the payment of Operating Expenses, the Centralized Services Charges and Managed Facility Personnel Costs and all other Operating Expenses as provided in Section 14.1.
Proceeds of Business Interruption Insurance. The proceeds of any business interruption insurance shall be allocated between Westboy and Manager, it being the intention of the parties that Manager share in such proceeds to the extent that they specifically represent fees or reimbursements otherwise payable by Westboy to Manager under this Agreement.
Proceeds of Business Interruption Insurance. 8.2.1 If the business of the Resort is interrupted by any event or peril covered by Business Interruption Insurance, the proceeds of any such insurance shall be allocated between Owner and Westin as their interests may appear, and Westin shall share in any proceeds (regardless of whether this Agreement has been terminated based on the event or peril in question) to the extent that the proceeds represent the Management Fee, the Marketing Fee, the Central Reservation Fee or Reimbursable Expenses payable by Owner to Westin under this
Proceeds of Business Interruption Insurance. Notwithstanding anything to the contrary in this Agreement of any Intermediation Facility Documents, with respect to any and all proceeds of business interruption insurance constituting Intermediation Facility Priority Collateral, the Intermediation Facility Secured Parties shall be required to mxxxxxxx, take, liquidate and exhaust all remedies and recoveries available to such Intermediation Facility Secured Parties with respect to (x) all other categories of Intermediation Facility Priority Collateral and (y) all insurance owned and held in the name of the Intermediation Facility Representative and/or the Intermediation Facility Secured Parties with respect to the Intermediation Facility Priority Collateral prior to receiving any recovery with respect to such proceeds of business interruption insurance with respect to Intermediation Facility Priority Collateral maintained by the Company as required by Section 17.1(b) of the Intermediation Agreement and such policy shall be the secondary policy with respect to Intermediation Facility Priority Collateral.
Proceeds of Business Interruption Insurance
