Proceeds of Casualty Sample Clauses

Proceeds of Casualty. Subject to Section 15 of the Lease, the Lessor and the Investors agree, for the benefit of the Agent and the Lenders, that if at any time either the Lessor or the either of the Investors receives any proceeds as a result, directly or indirectly, of any Casualty or Condemnation with respect to the Equipment which the Lessor is entitled to retain and hold in accordance with the terms of the Lease, the Lessor and both Investors agree that they will promptly deposit such amounts in an account with the Agent. The Lessor and the Investors also agree that they will execute and deliver such documents and instruments as the Agent may request in order to grant the Agent, for the benefit of the Lenders, a valid and perfected, first priority security interest in such proceeds.
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Proceeds of Casualty. The Lessor and the Investors agree, for the benefit of the Administrative Agent and the Lenders, that if at any time either the Lessor or the Investors receive any proceeds as a result, directly or indirectly, of any Casualty with respect to the Properties which the Lessor is entitled to retain and hold in accordance with the terms of the Lease, the Lessor and the Investors agree that they will promptly deposit such amounts in an account with the Administrative Agent. The Lessor and the Investors also agree that they will execute and deliver such documents and instruments as the Administrative Agent may request in order to grant the Administrative Agent, for the benefit of the Lenders, a valid and perfected, first priority security interest in such proceeds.
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Proceeds of Casualty. Subject to Section 15 of the Lease, the Lessor agrees, for the benefit of the Indenture Trustee and the Certificate Holders, that if at any time the Lessor receives any proceeds as a result, directly or indirectly, of any Casualty or Condemnation with respect to the Equipment which the Lessor is entitled to retain and hold in accordance with the terms of the Lease, the Lessor agrees that it will promptly deposit such amounts in an account with the Collateral Agent. The Lessor and the Certificate Holders also agree that they will execute and deliver such documents and instruments as the Collateral Agent may reasonably request in order to grant the Collateral Agent, for the benefit of the Securityholders and Certificate Holders, a valid and perfected, first priority security interest in such proceeds.
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Proceeds of Casualty. The Lessor and the Investor agree, for the benefit of the Agent and the Lenders, that if at any time either the Lessor or the Investor receives any proceeds as a result, directly or indirectly, of any Casualty or Condemnation with respect to the Property which the Lessor is entitled to retain and hold in accordance with the terms of the Lease, the Lessor and the Investor agree that they will promptly deposit such amounts in an account with the Agent. The Lessor and the Investor also agree that they will execute and deliver such documents and instruments as the Agent may reasonably request in order to grant the Agent, for the benefit of the Lenders, a valid and perfected, first priority security interest in such proceeds.
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Proceeds of Casualty. The Lessor and the Investors agree, for the benefit of the Agent Bank and the Banks, that if at any time either the Lessor or any Investor receives any proceeds as a result, directly or indirectly, of any Casualty or Condemnation with respect to the Property Interest which the Lessor is entitled to retain and hold in accordance with the terms of the Lease, the Lessor and the Investors agree that they will promptly deposit such amounts in the Funding Account for application in accordance with Section 13 hereof. The Lessor and the Investors also agree that they will execute and deliver such documents and instruments as the Agent Bank may request in order to grant the Collateral Agent, for the benefit of SPC, the Banks and the Investors, a valid and perfected, first priority security interest in such proceeds.
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Proceeds of Casualty. 29 8.4 Lessee Covenants, Consent and Acknowledgment.................................30 8.5 Appointment of the Agent by the Lenders, the Holders and the Trust...........33 8.6 Release of Properties, etc...................................................34 SECTION 9. CREDIT AGREEMENT AND TRUST AGREEMENT.........................................34 9.1 Lessee's Credit Agreement Rights.............................................34 9.2 Lessee's Trust Agreement Rights..............................................35
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Proceeds of Casualty. The Lessor agrees, for the benefit of the Agent, the Holders, and the Lenders, that if at any time the Lessor receives any proceeds as a result, directly or indirectly, of any Casualty with respect to any Property which the Lessor is entitled to retain and hold in accordance with the terms of the Lease, the Lessor agrees that it will promptly deposit such amounts in an account with the Agent. The Lessor also agrees that it will execute and deliver such documents and instruments as the Agent may request in order to grant the Agent, for the benefit of the Holders and the Lenders, a valid and perfected, first priority security interest in such proceeds.
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Proceeds of Casualty. 27 Section 9.5 Covenants of the Lessee......................................... 27 SECTION 10
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Proceeds of Casualty. The Lessors and the Agent Lessor agree, for the benefit of the Agent and the Lenders, that if at any time either any Lessor or the Agent Lessor receives any proceeds as a result, directly or indirectly, of any Casualty with respect to the Property which the Agent Lessor is entitled to retain and hold in accordance with the terms of the Lease, the Lessors and the Agent Lessor agree that they will promptly deposit such amounts in an account with the Agent. The Lessors and the Agent Lessor also agree that they will execute and deliver such documents and instruments as the Agent may request in order to grant the Agent, for the benefit of the Lenders, a valid and perfected, first priority security interest in such proceeds.
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Related to Proceeds of Casualty

  • Proceeds of Collateral Borrowers shall request in writing and otherwise take all necessary steps to ensure that all payments on Accounts or otherwise relating to Collateral are made directly to a Dominion Account (or a lockbox relating to a Dominion Account). If any Borrower or Subsidiary receives cash or Payment Items with respect to any Collateral, it shall hold same in trust for Agent and promptly (not later than the next Business Day) deposit same into a Dominion Account.

  • Condemnation Proceeds all Condemnation Proceeds other than proceeds to be applied to the restoration or repair of the property subject to the related Mortgage or released to the related Mortgagor in accordance with the Servicing Standard, which proceeds shall be deposited by the Master Servicer into an Escrow Account and not deposited in the Collection Account;

  • Proceeds of Sale The proceeds of any collection, recovery, receipt, appropriation, realization or sale of the Collateral shall be applied by the Pledgee as follows:

  • Condemnation or Casualty Seller agrees to give Purchaser prompt written notice of any fire or other casualty occurring to all or any portion of the improvements at the Real Property and/or Personalty between the date hereof and the date of closing. If prior to the closing, there shall occur:

  • Collection of Accounts, Proceeds of Collateral Each Borrower agrees that all invoices rendered and other requests made by such Borrower for payment in respect of Accounts shall contain a written statement directing payment in respect of such Accounts to be paid to a lockbox established pursuant to subsection 6.2.4. To expedite collection, each Borrower shall endeavor in the first instance to make collection of its Accounts for Agent. All remittances received by each Borrower on account of Accounts, together with the proceeds of any other Collateral, shall be held as Agent's property, for its benefit and the benefit of Lenders, by such Borrower as trustee of an express trust for Agent's benefit and such Borrower shall immediately deposit same in kind in the Dominion Account. Agent retains the right at all times after the occurrence and during the continuance of a Default or an Event of Default to notify Account Debtors that a Borrower's Accounts have been assigned to Agent and to collect such Borrower's Accounts directly in its own name, or in the name of Agent's agent, and to charge the collection costs and expenses, including attorneys' fees, to such Borrower.

  • Proceeds The Company shall use the proceeds from the issuance and sale of the Securities as set forth in “Use of Proceeds to issuer” in the Offering Circular.

  • Insurance Casualty and Condemnation 38 Section 6.1. Insurance Coverage...............................................38 Section 6.2. Condemnation.....................................................45

  • Insurance Casualty Condemnation Seller agrees that it will keep the Property insured against casualty until the Closing Date under its existing insurance policies or replacement policies with the same coverage as existing at the date of execution hereof. Such policies shall be terminated by Seller at the Closing Date. In the event that, prior to the Closing Date, all or any portion of the Property shall be destroyed by fire or other casualty, or taken by condemnation or exercise of the right of eminent domain, or if proceedings therefor shall be instituted or threatened and the amount of any such damage or condemnation exceeds $100,000, then Buyer may, within ten (10) days of its receipt of notice of such event, elect to terminate this Agreement by written notice to Seller and Escrow Agent. If the damage or condemnation is equal to or less than $100,000 or if the damage or condemnation exceeds $100,000 but Buyer does not terminate this Agreement, then the parties shall proceed to close the transaction contemplated hereby, in which event any insurance or condemnation proceeds (excluding rental loss proceeds attributable to the period prior to the Closing Date) shall inure to the benefit of Buyer and shall be assigned by Seller to Buyer at close of Escrow. In the event the parties proceed to close the transaction contemplated hereby, Seller shall pay any required deductible applicable to such insurance coverage, or the Purchase Price shall be reduced by the amount of any such deductible.

  • Insurance Proceeds All proceeds of and any unearned premiums on any insurance policies covering the Property, including, without limitation, the right to receive and apply the proceeds of any insurance, judgments, or settlements made in lieu thereof, for damage to the Property;

  • Condemnation Awards and Insurance Proceeds Mortgagor assigns all awards and compensation to which it is entitled for any condemnation or other taking, or any purchase in lieu thereof, to Mortgagee and authorizes Mortgagee to collect and receive such awards and compensation and to give proper receipts and acquittances therefor, subject to the terms of the Credit Agreement. Mortgagor assigns to Mortgagee all proceeds of any insurance policies insuring against loss or damage to the Mortgaged Property, subject to the terms of the Credit Agreement. Mortgagor authorizes Mortgagee to collect and receive such proceeds and authorizes and directs the issuer of each of such insurance policies to make payment for all such losses directly to Mortgagee, instead of to Mortgagor and Mortgagee jointly, subject to the terms of the Credit Agreement.

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