Proceeds of Certain Insurance Policies and Performance Bonds. The Net Proceeds of any performance or payment bond or insurance policy required by Section 4.7 or 4.8 of this Lease, and any Net Proceeds received as a consequence of default under a Construction Contract as provided in Section 4.6 of this Lease, shall be paid into the Project Fund if received before the Completion Date for the Facilities, or, if received thereafter, shall be applied as provided in Section 5.3(c) of this Lease.
Proceeds of Certain Insurance Policies and Performance Bonds. The net proceeds of any performance or payment bond or insurance policy required by this Article and any net proceeds received as a consequence of default under a construction contract as provided in Section 9.07 of this Lease, shall be paid into the Project Fund. (End of Article IX)
Proceeds of Certain Insurance Policies and Performance Bonds. The Net Proceeds of any performance or payment bond or insurance policy and any Net Proceeds received as a consequence of default under a Project Contract shall be deposited into the Town’s Construction Fund for the development.
Proceeds of Certain Insurance Policies and Performance Bonds. The Net Proceeds of any performance or payment bond or insurance policy and any Net Proceeds received as a consequence of default under any Leased Property Project Contract, shall be deposited into the Leased Property Project Account if received prior to the Completion Date. Any such Net Proceeds received after the Completion Date shall be deposited into a special trust fund held by the Trustee and applied to repair, restore, modify, improve or replace the affected portion of the Leased Property to cure any defect resulting from the action that gave rise to the receipt of such Net Proceeds and, upon the written certification of the District that the defect has been cured or that no cure is required shall, be deposited into the Principal Account.
Proceeds of Certain Insurance Policies and Performance Bonds. The Net Proceeds of any performance or payment bond or insurance policy required by Section 7.8, Section 7.9 and Section 7.10 of this Master Lease shall be deposited with the Trustee and applied as provided in Section 10.2 of this Master Lease and Section 5.16 of the General Indenture.
Proceeds of Certain Insurance Policies and Performance Bonds. The Net Proceeds of any performance or payment bond or insurance policy required by Sections 7.8 through 7.13 and any Net Proceeds received as a consequence of default under a Project Contract as provided by Section 7.7 of this Lease, shall be deposited into the Construction Fund if received prior to the Completion Date and, if received after the Completion Date, remitted to the Trustee for deposit in a separate trust fund in accordance with Section 10.2 of this Lease.
