Common use of Proceeds To Be Released to Pay For Work Clause in Contracts

Proceeds To Be Released to Pay For Work. In the event of any Casualty, except as provided for in Section 13.2.2, Lessor shall release proceeds of property insurance held by it to pay for the Work in accordance with the provisions and procedures set forth in this Article 13, only if: (a) all of the terms, conditions and provisions of Sections 13.1 and 13.2.1 are satisfied; (b) Lessee demonstrates to Lessor's satisfaction that Lessee has the financial ability to satisfy the Lease Obligations during such repair or restoration; and (c) no Sublease material to the operation of the Facility immediately prior to such damage or taking shall have been cancelled or terminated, nor contain any still exercisable right to cancel or terminate, due to such Casualty if and to the extent that the income from such Sublease is necessary in order to avoid the violation of any of the financial covenants set forth in this Lease or otherwise to avoid the creation of an Event of Default. If a Fee Mortgagee prevents Lessor from releasing proceeds of property insurance notwithstanding the satisfaction of the foregoing requirements, Lessee shall have no obligation to restore the Casualty to which such proceeds pertain.

Proceeds To Be Released to Pay For Work. In the event of any Casualty, except as provided for in Section 13.2.2, the Lessor shall release proceeds of property insurance held by it to pay for the Work in accordance with the provisions and procedures set forth in this Article 13, only if: (a) all of the terms, conditions and provisions of Sections 13.1 and 13.2.1 are satisfied; (b) there does not then exist any Lease Default or any state of facts or circumstance which, with the giving of notice and/or the passage of time, would constitute such a Lease Default; (c) The Lessee demonstrates to the Lessor's satisfaction that the Lessee has the financial ability to satisfy the Lease Obligations during such repair or restoration; and (cd) no Sublease (excluding Resident Agreements) material to the operation of the Facility immediately prior to such damage or taking shall have been cancelled canceled or terminated, nor contain any still exercisable right to cancel or terminate, due to such Casualty if and to the extent that the income from such Sublease is necessary in order to avoid the violation of any of the financial covenants set forth in this Lease or otherwise to avoid the creation of an Event of Default. If a Fee Mortgagee prevents Lessor from releasing proceeds of property insurance notwithstanding the satisfaction of the foregoing requirements, Lessee shall have no obligation to restore the Casualty to which such proceeds pertain.

Proceeds To Be Released to Pay For Work. In the event of any Casualty, except as provided for in Section 13.2.2, but, subject to the terms of any applicable Fee Mortgage Loan Documents, the Lessor shall release proceeds of property insurance held by it to pay for the Work in accordance with the provisions and procedures set forth in this Article 13, only if: (a) all of the terms, conditions and provisions of Sections 13.1 and 13.2.1 are satisfied; (b) there does not then exist any Lease Default or any state of facts or circumstance which, with the giving of notice and/or the passage of time, would constitute such a Lease Default; (c) The Lessee demonstrates to the Lessor's satisfaction that the Lessee has the financial ability to satisfy the Lease Obligations during such repair or restoration; and (cd) no Sublease material to the operation of the Facility immediately prior to such damage or taking shall have been cancelled canceled or terminated, nor contain any still exercisable right to cancel or terminate, due to such Casualty if and to the extent that the income from such Sublease is necessary in order to avoid the violation of any of the financial covenants set forth in this Lease or otherwise to avoid the creation of an Event of Default. If a Fee Mortgagee prevents Lessor from releasing proceeds of property insurance notwithstanding the satisfaction of the foregoing requirements, Lessee shall have no obligation to restore the Casualty to which such proceeds pertain.

Proceeds To Be Released to Pay For Work. In the event of any Casualty, except as provided for in Section 13.2.2, Lessor shall release proceeds of property insurance 90 held by it to pay for the Work in accordance with the provisions and procedures set forth in this Article 13, only if: (a) all of the terms, conditions and provisions of Sections 13.1 and 13.2.1 are satisfied; ; (b) Lessee demonstrates to Lessor's satisfaction that Lessee has the financial ability to satisfy the Lease Obligations during such repair or restoration; and and (c) no Sublease material to the operation of the Facility immediately prior to such damage or taking shall have been cancelled or terminated, nor contain any still exercisable right to cancel or terminate, due to such Casualty if and to the extent that the income from such Sublease is necessary in order to avoid the violation of any of the financial covenants set forth in this Lease or otherwise to avoid the creation of an Event of Default. If a Fee Mortgagee prevents Lessor from releasing proceeds of property insurance notwithstanding the satisfaction of the foregoing requirements, Lessee shall have no obligation to restore the Casualty to which such proceeds pertain.

Proceeds To Be Released to Pay For Work. In the event of any Casualty, except as provided for in Section 13.2.2, Lessor shall release proceeds of property insurance held by it to pay for the Work in accordance with the provisions and procedures set forth in this Article 13, only if: (a) all of the terms, conditions and provisions of Sections 13.1 and 13.2.1 are satisfied; (b) Lessee demonstrates to Lessor's satisfaction that Lessee Xxxxxx has the financial ability to satisfy the Lease Obligations during such repair or restoration; and (c) no Sublease material to the operation of the Facility immediately prior to such damage or taking shall have been cancelled or terminated, nor contain any still exercisable right to cancel or terminate, due to such Casualty if and to the extent that the income from such Sublease is necessary in order to avoid the violation of any of the financial covenants set forth in this Lease or otherwise to avoid the creation of an Event of Default. If a Fee Mortgagee prevents Lessor from releasing proceeds of property insurance notwithstanding the satisfaction of the foregoing requirements, Lessee shall have no obligation to restore the Casualty to which such proceeds pertain.