RETENTION OF INSURANCE PROCEEDS Sample Clauses

RETENTION OF INSURANCE PROCEEDS. On the termination of this Lease under paragraph 7 (Options to determine), or if this Lease is terminated by the operation of the doctrine of frustration, the Landlord is to be entitled to retain the proceeds of insurance for its exclusive benefit.
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RETENTION OF INSURANCE PROCEEDS. On the termination of this Lease under paragraph 5, or if this Lease is terminated by the operation of the doctrine of frustration, the Landlord will be entitled to retain the insurance proceeds for its exclusive benefit.
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RETENTION OF INSURANCE PROCEEDS. On the termination of this Lease under clause 6.15 (Uninsured Risks) or if this Lease is terminated by the operation of the doctrine of frustration or otherwise, the Tenant is not to be entitled to any of the proceeds of insurance for its exclusive benefit.
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RETENTION OF INSURANCE PROCEEDS. Following termination under paragraphs 6, 7 or 8, the insurance proceeds belong to the Landlord.
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RETENTION OF INSURANCE PROCEEDS. On the termination of this Lease under paragraph 7 or if this Lease is terminated by the operation of the doctrine of frustration the Landlord may retain for its exclusive benefit the proceeds of insurance SCHEDULE 5 Rent Review 1. Yearly rent review The yearly rent payable under this Lease shall be reviewed on the expiration of each consecutive period of five years from the commencement date of the term and the terms "review dates" and "relevant review date" shall be construed accordingly and as from each review date the reviewed rent (agreed or determined in accordance with the following provisions of this Schedule) shall become payable in all respects as if it were the yearly rent reserved by this Lease 2. Upward only rent reviews The reviewed rent shall be the greater of: 2.1 the yearly rent payable under this Lease immediately preceding the relevant review date; and 2.2 the market rent of the Demised Premises at the relevant review date 3. The market rent The expression "the market rent" shall for the purpose of this Lease mean the yearly rental value of the Demised Premises having regard to open market rental values as between a willing landlord and a willing tenant for property at the review date let without a premium for a term of 15 years from the review date taking into account the Tenant's right to apply to the Court for the grant of a new tenancy under part II of the Landlord and Tenaxx Xxx 0000 xxx on the assumption that the Landlord would not oppose the grant and otherwise on the terms and conditions contained in this Lease other than the amount of rent but including these provisions for rent review but upon the assumption if not the fact that at the relevant review date: 3.1 the Demised Premises are available to be let with vacant possession; 3.2 the Tenant has received and has already enjoyed the full benefit of any concessionary rent rent free period or other inducement that a willing landlord might grant or give to a willing tenant on such a letting with vacant possession; 3.3 the Demised Premises have been fitted out and are therefore ready for immediate occupation and commencement of the business of the Tenant so that: 3.3.1 the Tenant shall not be entitled to any allowance at the relevant review date for time for fitting out of the Demised Premises; but 3.3.2 the Landlord shall not in consequence of the operation of this assumption be entitled to claim a higher market rent for the Demised Premises to reflect increased demand by reason ...
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RETENTION OF INSURANCE PROCEEDS. That the Lender may retain proceeds received from an insurance company following a loss or damage to the Property and may apply them to reduce the mortgage debt, or, at the Lender's option, it may pay the proceeds, in whole or part, to me for the repair or replacement of the loss or damage.
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RETENTION OF INSURANCE PROCEEDS. Notwithstanding anything hereinbefore contained, the Landlord shall be entitled to retain all amounts payable to it under any rental income insurance or fire insurance in the event the building is not repaired or rebuilt.
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RETENTION OF INSURANCE PROCEEDS. On the termination of this Lease Agreement under Clause 9.5 above, the Landlord may retain for its exclusive benefit the proceeds of the insurance (whether such insurance is provided for in S chedule “B-1” or Schedule “B-2” but excluding insurance proceeds from insurance purchased directly by the Tenant and relating solely to the property of the Tenant in the Premises) without obligation to rebuild or reinstate the Building.
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Related to RETENTION OF INSURANCE PROCEEDS

  • Application of Insurance Proceeds Grantor shall promptly notify Lender of any loss or damage to the Collateral. Lender may make proof of loss if Grantor fails to do so within fifteen (15) days of the casualty. All proceeds of any insurance on the Collateral, including accrued proceeds thereon, shall be held by Lender as part of the Collateral. If Lender consents to repair or replacement of the damaged or destroyed Collateral, Lender shall, upon satisfactory proof of expenditure, pay or reimburse Grantor from the proceeds for the reasonable cost of repair or restoration. If Lender does not consent to repair or replacement of the Collateral, Lender shall retain a sufficient amount of the proceeds to pay all of the Indebtedness, and shall pay the balance to Grantor. Any proceeds which have not been disbursed within six (6) months after their receipt and which Grantor has not committed to the repair or restoration of the Collateral shall be used to prepay the Indebtedness.

  • Termination of Insurance A. Your policy will lapse if you do not pay your premium when due. B. We may cancel your policy by mailing written notice to you at your most recent address in our records. We will send you this notice ten (10) days before we cancel your policy. C. You may cancel your policy at any time by notifying us in writing. D. We will refund unearned premiums on a prorated basis if either you or we cancel your policy.

  • Continuation of Insurance All policies of insurance shall provide for at least 30 days prior written cancellation notice to the Secured Party. In the event of failure by the Debtor to provide and maintain insurance as herein provided, the Secured Party may, at its option, provide such insurance and charge the amount thereof to the Debtor. The Debtor shall furnish the Secured Party with certificates of insurance and policies evidencing compliance with the foregoing insurance provision.

  • Cancellation of Insurance There will be no cancellation or reduction of coverage of any required insurance without thirty (30) days’ written notice to the Contractor. Such notice may be sent by the Subcontractor’s insurance carrier, insurance broker, or the Subcontractor. Waiver of Subrogation. Subcontractor waives all rights against Contractor, Client, other subcontractors, and their agents.

  • Use of Insurance Proceeds In case the buildings, improvements or fixtures required to be insured in Section 6.1 or any part thereof shall be destroyed or damaged by fire or such other casualty required to be insured against, then and as often as the same shall happen, all proceeds of such insurance shall be available for and used with all reasonable dispatch by the Lessee in rebuilding, repairing, replacing or otherwise reinstating the buildings, improvements or fixtures so destroyed or damaged in a good and substantial manner according to the plan and elevation thereof, or according to such modified plan as shall be approved under Section 4.1(a), and to pay the rent due the Lessor. If the available insurance proceeds shall be insufficient for rebuilding, repairing, replacing or otherwise reinstating such buildings, improvements or fixtures in the manner provided in this section above, then the Lessee shall provide the balance of all funds required to completely rebuild, repair, replace or otherwise reinstate such buildings, improvements or fixtures. Lessee shall undertake promptly to reinstate the building or buildings, or portions thereof, so destroyed or damaged according to the original plan and elevation thereof, or according to such modified plan as shall be approved by Lessor pursuant to Section 4.1(a). If a casualty under this Section 6.1 shall occur in the last ten (10) years of the Term of this Lease, the Lessee shall have the option of notifying the Lessor that the Lessee does not intend to rebuild the buildings, improvements, or fixtures so destroyed, but rather elects to terminate the Lease as of the date of the casualty, by giving Lessor written notice at least thirty (30) days after the date of the casualty, and then Lessee will, at its own expense, pay all real property taxes and any assessments then outstanding and shall pay over all insurance proceeds to the Lessor, except if requested by Lessor, Lessee shall use the insurance proceeds to promptly remove from the Premises, all buildings, improvements and trade fixtures, and restore the Land then remaining to good, orderly and sanitary condition and even grade, and upon so doing the Lessee shall then surrender any remaining balance of the insurance proceeds (if any), surrender this Lease and Lessee shall be relieved of further performance under this Lease. If the available insurance proceeds shall be insufficient, then Lessee shall provide the balance of all funds required to remove from the Premises, all buildings, improvements and trade fixtures, and restore the Land then remaining to good, orderly and sanitary condition and even grade.

  • Duration of Insurance Contribution An employee is eligible for School District contributions as provided in this Article as long as an employee is employed by the School District. Employees whose employment terminates during the school year will be eligible for insurance and district contributions to insurance through the end of the month in which they terminate provided they pay the employee portion of the insurance premium for that month. Otherwise, the employee’s insurance will terminate as of the last day of employment.

  • Evidence of Insurance Receipt by the Administrative Agent of copies of insurance policies or certificates of insurance of the Loan Parties evidencing liability and casualty insurance meeting the requirements set forth in the Loan Documents, including, but not limited to, naming the Administrative Agent as additional insured (in the case of liability insurance) or loss payee (in the case of hazard insurance) on behalf of the Lenders.

  • Separation of Insureds All liability policies shall provide cross-liability coverage as would be afforded by the standard ISO (Insurance Services Office, Inc.) separation of insureds provision with no insured versus insured exclusions or limitations.

  • Modification of insurance requirements The Security Trustee shall notify the Borrower of any proposed modification under Clause 13.18 to the requirements of this Clause 13 which the Majority Lenders consider appropriate in the circumstances, and such modification shall take effect on and from the date it is notified in writing to the Borrower as an amendment to this Clause 13 and shall bind the Borrower accordingly.

  • Maintenance of Insurance; Policy Provisions The Contractor, at no additional direct cost to NYSERDA, shall maintain or cause to be maintained throughout the term of this Agreement, insurance of the types and in the amounts specified in the Section hereof entitled Types of Insurance. All such insurance shall be evidenced by insurance policies, each of which shall: (a) except policies in evidence of insurance required under Section 11.02(b), name or be endorsed to cover NYSERDA, the State of New York and the Contractor as additional insureds; (b) provide that such policy may not be cancelled or modified until at least 30 days after receipt by NYSERDA of written notice thereof; and (c) be reasonably satisfactory to NYSERDA in all other respects.

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