Restoration Funds Sample Clauses
Restoration Funds. Subject to the provisions and limitations in this Article XII, Depositary shall make available to Tenant (in respect of a Taking of the Demised Premises) and to the Condominium Association (in respect of a Taking of the Common Elements) as much of that portion of the condemnation award actually received and held by Depositary, if any, less all reasonable expenses paid or incurred by Depositary, Tenant, the Condominium Association and Landlord in connection with the condemnation proceedings, as may be necessary to pay the cost of Condemnation Restoration of the part of the Demised Premises and/or Common Elements remaining. Such Condemnation Restoration, the estimated cost thereof, the payments to Tenant or to the Condominium Association, as the case may be on account of the cost thereof, Landlord’s right to perform the same, Tenant’s obligation with respect to condemnation proceeds held by it, and any additional conditions imposed by the Recognized Mortgage most senior in lien, shall be done, determined, made and governed in accordance with and subject to the provisions of Articles IX and XI hereof as if such amounts were “Restoration Funds” thereunder. Payments to Tenant or the Condominium Association, as the case may be, as aforesaid shall be disbursed in the manner set forth in Sections 11.2(b) and 11.3 hereof. Any balance of the award held by Depositary and any cash and the proceeds of any security deposited with Depositary pursuant to Section 12.4 hereof remaining after completion of the Condemnation Restoration shall be paid to Tenant, or the Condominium Association, as the case may be, subject to the rights of Recognized Mortgagees. Each of the parties agrees to execute and deliver any and all documents that may be reasonably required in order to facilitate collection of the awards. If the portion of the award made available by Depositary, as aforesaid, is insufficient for the purpose of paying for the Condemnation Restoration, Tenant or the Condominium Association, as the case may be, shall nevertheless be required to make the Condemnation Restoration and pay any additional sums required for the Condemnation Restoration. Tenant’s or the Condominium Association’s, as the case may be, failure to supply the amount of any such deficiency within twenty (20) Business Days from demand of Landlord shall constitute a default hereunder (it being acknowledged and agreed that if such failure occurs after the tenth anniversary of the Delivery Date, Tenant will, ...
Restoration Funds. Upon any termination of this Lease, to the extent that Landlord or Depository then holds any Restoration Funds, they shall be applied solely as Landlord directs, including as a payment toward any sums then payable to Landlord.
Restoration Funds. Upon any termination of this Agreement, to the extent that the County then holds any Restoration Funds, they shall be the sole property of the County and may be applied solely as the County directs.
Restoration Funds. Upon any termination of this Lease, to the extent that Landlord or Depository then holds any Restoration Funds, they shall be applied solely as directed by Landlord, including as a payment to Landlord on account of any damages or other sums then payable to Landlord.
Restoration Funds. The "RESTORATION FUNDS" shall mean any Loss Proceeds (and deposits by Tenant) to be applied to Restoration.
Restoration Funds. If Landlord's original construction lender is unwilling, or at any time refuses, to act as Secured Lender for those purposes, Tenant and Landlord shall select an institutional lender or a title insurance or trust company with offices in Jacksonville, Florida, mutually agreeable to both parties to act as said Secured Lender for such purposes.
Restoration Funds. 35 SECTION 8.4 EFFECT OF CASUALTY ON THIS LEASE. ...............................................................................................37 SECTION 8.5 COLLECTION OF PROCEEDS. ................................................................................................................38 1 F:IMINSKER\C.M.BIPARKONE\POGROUNDLEASE.EXECI2.I.DOC m'.1893sn2424 ARTICLE 9 -
Restoration Funds. Upon any termination of this Agreement, to the extent that the Authority then holds any Restoration Funds, they shall be the sole property of the Authority and may be applied solely as the Authority directs.
Restoration Funds. The Insurance Proceeds or condemnation award if sufficient to cover the cost of the Restoration, American Family’s reasonable expenses for collecting and disbursing the Restoration Funds, plus an additional ten percent (10%) of the anticipated cost of the Restoration to provide for unanticipated contingencies, or if not sufficient, the Insurance Proceeds or condemnation award and a deposit by Borrower with American Family in the amount of such deficiency. SNDA: The Subordination, Nondisturbance and Attornment Agreement and Estoppel Certificate required of Tenants in form and substance reasonably acceptable to American Family.
Restoration Funds. All insurance proceeds received by or payable to Tenant with respect to any casualty or otherwise (excluding insurance proceeds from “contents” insurance policies carried by Tenant for personal property separate and apart from the policies required under this Lease), together with any interest earned on such insurance proceeds from time to time, shall be applied toward the cost of the Casualty Restoration, and any such funds remaining after the completion of a Casualty Restoration in accordance with the terms of this Lease shall be distributed as provided in Section 8.3(c) below. If the cost of the Casualty Restoration is (A) in excess of the Threshold Amount, then such funds shall be deposited with Depositary for disbursement as provided in this Article 8 and shall be deemed “Restoration Funds”; and (B) less than or equal to Threshold Amount, then such funds shall be paid to Tenant in trust for application as provided in this Article 8.