Requirements for Disbursement. Insurance proceeds paid pursuant to the policies of insurance for loss of or damage to the Premises as a result of a Casualty (the “Insurance Proceeds”) shall be paid to StadCo, as restoring party, from time to time as such Casualty Repair Work progresses as provided in this Article 12. Insurance Proceeds paid or disbursed to StadCo shall be held by StadCo in trust for the purposes of paying the cost of the Casualty Repair Work and shall be applied by StadCo to such Casualty Repair Work or otherwise in accordance with the terms of this Article 12. StadCo shall from time to time as requested by the Authority or any Leasehold Mortgagee provide an accounting to such other party of the Insurance Proceeds in detail and format reasonably satisfactory to such other party.
Requirements for Disbursement. Insurance proceeds paid pursuant to the policies of insurance for loss of or damage to the Premises as a result of a Casualty (the “Insurance Proceeds”) shall be paid to StadCo, as restoring party, from time to time as such Casualty Repair Work progresses as provided in this Article 12 (Damage or Destruction). Insurance Proceeds paid or disbursed to StadCo shall be held by StadCo in trust for the purposes of paying the cost of the Casualty Repair Work and shall be applied by StadCo to such Casualty Repair Work or otherwise in accordance with the terms of this Article 12 (Damage or Destruction). StadCo shall from time to time as requested by the Authority or any Leasehold Mortgagee provide an accounting to such other party of the Insurance Proceeds in detail and format reasonably satisfactory to such other party. (b) Deposit of Proceeds of Insurance. Without limiting StadCo’s obligations under this Section 12.2 (Insurance Proceeds) with respect to Casualty Repair Work, the Insurance Proceeds shall be payable to:
(i) StadCo directly, in the case of any particular insured Casualty resulting in damage to the Improvements involving a reasonably estimated cost of repair equal to or less than Five Million and No/100 Dollars ($5,000,000.00), which Insurance Proceeds shall be received by StadCo in trust for the purpose of paying the cost of Casualty Repair Work.
(ii) the Insurance Fund Custodian for deposit into the Insurance Fund in the case of any particular insured Casualty resulting in damage involving a reasonably estimated cost of repair in excess of Five Million and No/100 Dollars ($5,000,000.00), which Insurance Proceeds are to be held and disbursed pursuant to, and under the conditions set forth in this Section 12.2(b) (Insurance Proceeds/Deposit of Proceeds of Insurance) and Section 12.2(c) (Insurance Proceeds/Disbursements from Insurance Fund) below. The Insurance Fund shall be established and maintained for the sole purpose of serving as a segregated fund for the Insurance Proceeds and the Insurance Proceeds deposited into the Insurance Fund under this Agreement shall be held and disbursed, all in accordance with this Article 12 (Damage or Destruction). All funds in the Insurance Fund shall be held in escrow by the Insurance Fund Custodian for application in accordance with the terms of this Agreement, and the Insurance Fund Custodian shall account to StadCo and the Authority for the same on a monthly basis. The funds in the Insurance Fund shall be inve...
Requirements for Disbursement. Insurance proceeds paid pursuant to the policies of insurance for loss of or damage to the Premises as a result of a Casualty (the “Insurance Proceeds”) shall be paid to Bristol, as restoring party, from time to time as such Casualty Repair Work progresses as provided in this Section 16. Insurance Proceeds paid or disbursed to Bristol shall be held by Bristol in trust for the purposes of paying the cost of the Casualty Repair Work and shall be applied by Bristol to such Casualty Repair Work or otherwise in accordance with the terms of this Section 16. Bristol shall from time to time as requested by the Fair Board provide an accounting to such other party of the Insurance Proceeds in detail and format reasonably satisfactory to such other party.
Requirements for Disbursement. The Grantee shall meet all conditions precedent to the disbursement of money under this Agreement, including filing an XXX pursuant to Paragraph 6, and Basic Conditions, Paragraph 11. Failure by the Grantee to comply may, at the option of DWR, result in termination of the Agreement. DWR shall have no obligation to reimburse funds under this Agreement unless and until the disbursement is in accordance with requirements of Proposition 1E. For disbursements of funds for the Project, the Grantee shall continue to meet the Basic Conditions stated in Paragraph 11.
Requirements for Disbursement. Before making any disbursement of funds from a cash escrow, Escrow Agent shall notify the General Partner and the UPREIT in writing of its intended action at least five (5) days in advance, and in the event it shall, within such 5 day period, receive written notice of objection from a party, Escrow Agent shall take no further action unless pursuant to joint written instructions of the General Partner and the UPREIT or pursuant to a court order.
Requirements for Disbursement. Project Sponsor acknowledges and accepts that, under the State Agreement, BACWA, by and through the Participating Water Entities, including Project Sponsor, will be required by the State Agreement to, by (DATE) , meet all conditions precedent to the disbursement of money under the State Agreement, including Basic Conditions, Paragraph 31. Project Sponsor acknowledges and accepts that failure by XXXXX, by and through the Participating Water Entities, including Project Sponsor, to comply with this date may, at the option of DWR, result in termination of the State Agreement and, by implication, this Implementation Agreement. For disbursements of State Grant funds for Project, Project Sponsor shall continue to meet the Basic Conditions, Paragraph 31, as well as the Conditions for Disbursement, Paragraph 32.
Requirements for Disbursement. Not later than sixty (60) days following Date of Execution of this Agreement, Supplier shall satisfy all conditions precedent to the disbursement of funds under this Agreement, including Basic Conditions Precedent as set forth in Article A-3 of the Standard Conditions. Failure by Supplier to satisfy said conditions and requirements by this date may, at the option of State, result in cancellation of this Agreement under Article A-7 of the Standard Conditions and/or declaration that Supplier is in default pursuant to Article A-24 of the Standard Conditions.
Requirements for Disbursement. The Local Public Entity shall meet all applicable conditions precedent to the disbursement of money under this Contract, including Basic Conditions Precedent under Article A-3 of the Standard Conditions. Failure by the Local Public Entity to comply with this requirement may, at the option of the State, result in termination of the Contract under Article A-26 of the Standard Conditions.
Requirements for Disbursement. Funding Recipient shall meet all conditions precedent to the disbursement of money under this Agreement, including Acceptable Conditions, Paragraph 7. Notwithstanding any other provision of this Funding Agreement, no disbursement shall be required at any time or in any manner which is in violation of, or in conflict with, federal or state laws, rules, or regulations, or which may require any rebates to the federal government, or any loss of tax-free status on state bonds, pursuant to any federal statute or regulation. Any and all money disbursed to Funding Recipient under this Funding Agreement shall be deposited in a non-interest bearing account and shall be used solely to pay Eligible Project Costs.
Requirements for Disbursement. 2 8. Relationship of Parties Hereto.......................... ............. ............. .............. ............. ............. 2 9. Permits, Licenses, Approvals and Legal Obligations……………………………………… ......... 2
