RECEIPT AND APPLICATION OF PROCEEDS. A. Any insured loss under the policies of insurance required by paragraph 5.04 will be adjusted with OWNER and made payable to OWNER as fiduciary for the benefit of insureds, as their interests may appear, subject to the requirements of paragraph 5.06.B. OWNER shall deposit in a separate account any money so received, and shall distribute it in accordance with such agreement as the parties in interest may reach. If no other special agreement is reached the damaged Work shall be repaired or replaced, the moneys so received applied on account thereof and the Work and the cost thereof covered by an appropriate Change Order or Written Amendment.
Appears in 4 contracts
Samples: License Agreement (Advanced BioEnergy, LLC), License Agreement (Husker Ag LLC), License Agreement (Southwest Iowa Renewable Energy, LLC)
RECEIPT AND APPLICATION OF PROCEEDS. A. Any insured loss under the policies of insurance required by paragraph 5.04 will be adjusted with OWNER and made payable to OWNER as fiduciary for the benefit of insureds, as their interests may appear, subject to the requirements of any applicable mortgage clause and of paragraph 5.06.B. OWNER shall deposit in a separate account any money so received, and shall distribute it in accordance with such agreement as the parties in interest may reach. If no other special agreement is reached the damaged Work shall be repaired or replaced, the moneys so received applied on account thereof and the Work and the cost thereof covered by an appropriate Change Order or Written Amendment.
Appears in 3 contracts
Samples: Agreement (East Kansas Agri Energy LLC), License Agreement (Little Sioux Corn Processors LLC), Agreement (Western Plains Energy LLC)
RECEIPT AND APPLICATION OF PROCEEDS. A. Any insured loss under the policies of insurance required by paragraph 5.04 will be adjusted with OWNER and made payable to OWNER as fiduciary for the benefit of insureds, as their interests may appear, subject to the requirements of any applicable mortgage clause and of paragraph 5.06.B. OWNER shall deposit in a separate account any money so received, and shall distribute it in accordance with such agreement as the parties in interest may reach. If no other special agreement is reached the damaged Work shall be repaired or replaced, the moneys so received applied on account thereof and the Work and the cost thereof covered by an appropriate Change Order or Written Amendment.
Appears in 2 contracts
Samples: Agreement (Western Plains Energy LLC), Agreement (Western Plains Energy LLC)
RECEIPT AND APPLICATION OF PROCEEDS. A. 7.6.1 Any insured loss under the policies of insurance required by paragraph 5.04 7.4 will be adjusted with OWNER Owner and made payable to OWNER Owner as fiduciary for the benefit of insureds, as their interests may appear, subject to the requirements of any applicable mortgage clause and of paragraph 5.06.B. OWNER 7.6.2. Owner shall deposit in a separate account any money so received, and shall distribute it in accordance with such agreement as the parties in interest may reach. If no other special agreement is reached the damaged Work shall be repaired or replaced, the moneys so received applied on account thereof and the Work and the cost thereof covered by an appropriate Change Order or Written Amendment.
Appears in 1 contract
Samples: Great Plains Ethanol LLC