Common use of Total Taking and Total Destruction Clause in Contracts

Total Taking and Total Destruction. In the event of a Total Destruction or a Total Taking, the Beneficiary shall apply all amounts recovered under any insurance policy referred to in Section 2.1.1 and all awards received by it on account of any such Taking as follows: (a) first, to the payment of the reasonable costs and expenses incurred by the Beneficiary in obtaining any such insurance proceeds or awards, including the reasonable fees and expenses of attorneys and insurance and other experts and consultants, the costs of litigation, arbitration, mediation, investigations and other judicial, administrative or other proceedings and all other out-of-pocket expenses; (b) second, to the payment of the principal of the Senior Notes and any interest (including Post-Petition Interest to the extent such interest is a Secured Obligation) accrued and unpaid thereon, without regard to whether any portion or all of such amounts shall be matured or unmatured;, and, in case such amount shall be insufficient to pay in full all such amounts, then such amount shall be applied, first, to the payment of all amounts of interest (including Post-Petition Interest to the extent such interest is a Secured Obligation) accrued to the Senior Notes and unpaid, and second, to the payment of all amounts of principal at the time outstanding; (c) third, to the payment of, or the application to, any Secured Obligation (other than as provided in clause (b) above); (d) fourth, to fulfill any of the other covenants contained herein as the Beneficiary may determine; and (e) fifth, the balance, if any, to the Trustor.

Total Taking and Total Destruction. In the event of a Total Destruction or a Total Taking, the Beneficiary Grantee shall apply all amounts recovered under any insurance policy referred to in Section 2.1.1 and all awards received by it on account of any such Taking as follows: (a) first, to the payment of the reasonable costs and expenses incurred by the Beneficiary Grantee in obtaining any such insurance proceeds or awards, including the reasonable fees and expenses of attorneys and insurance and other experts and consultants, the costs of litigation, arbitration, mediation, investigations and other judicial, administrative or other proceedings and all other out-of-pocket expenses; (b) second, to the payment of the principal of the Senior Notes Obligations and any interest (including Post-Petition Interest to the extent such interest is a Secured an Obligation) accrued and unpaid thereon, without regard to whether any portion or all of such amounts shall be matured or unmatured;, unmatured and, in case such amount shall be insufficient to pay in full all such amounts, then such amount shall be applied, first, to the payment of all amounts of interest (including Post-Petition Interest to the extent such interest is a Secured an Obligation) accrued to on the Senior Notes Obligations and unpaid, and second, to the payment of all amounts of principal at the time outstandingoutstanding thereon; (c) third, to the payment of, or the application to, any Secured Obligation (other than as provided in clause (b) above); (d) fourth, to fulfill any of the other covenants contained herein as the Beneficiary Grantee may determine; and (e) fifth, the balance, if any, to the TrustorGrantor.

Total Taking and Total Destruction. In the event of a Total ---------------------------------- Destruction or a Total Taking, the Beneficiary shall apply all amounts recovered under any insurance policy referred to in Section 2.1.1 and all awards received ------------- by it on account of any such Taking as follows: (a) first, to the payment of the reasonable costs and expenses incurred by the Beneficiary in obtaining any such insurance proceeds or awards, including the reasonable fees and expenses of attorneys and insurance and other experts and consultants, the costs of litigation, arbitration, mediation, investigations and other judicial, administrative or other proceedings and all other out-of-pocket expenses; (b) second, to the payment of the principal of the Senior Notes and any interest (including Post-Petition Interest to the extent such interest is a Secured Obligation) accrued and unpaid thereon, without regard to whether any portion or all of such amounts shall be matured or unmatured;, and, in case such amount shall be insufficient to pay in full all such amounts, then such amount shall be applied, firstRatably, to the payment of all any Obligation secured by this Deed of Trust other than indebtedness with respect to the Secured Obligations; (c) amounts of interest (including Post-Petition Interest to the extent such interest is a Secured an Obligation) accrued to on the Senior Notes Secured Obligations and unpaid, and second, to the payment of all amounts of principal at the time ------ outstanding; (c) third, to the payment of, or the application to, any Secured Obligation (other than as provided in clause (b) above); (d) fourth, to fulfill any of the other covenants contained herein as the Beneficiary may determine; and (e) fifth, the balance, if any, to the Trustor.

Total Taking and Total Destruction. In the event of a Total Destruction or a Total Taking, the Beneficiary shall apply all amounts recovered under any insurance policy referred to in Section 2.1.1 and all awards received by it on account of any such Taking as follows: (a) first, to the payment of the reasonable costs and expenses incurred by the Beneficiary in obtaining any such insurance proceeds or awards, including the reasonable fees and expenses of attorneys and insurance and other experts and consultants, the costs of litigation, arbitration, mediation, investigations and other judicial, administrative or other proceedings and all other out-of-pocket expenses; (b) second, to the payment of the principal of the Senior Notes Fixed Assets Loans and any interest (including Post-Petition Interest to the extent such interest is a Secured Obligation) accrued and unpaid thereon, without regard to whether any portion or all of such amounts shall be matured or unmatured;, ; and, in case such amount shall be insufficient to pay in full all such amounts, then such amount shall be applied, first, to the payment of all amounts of interest (including Post-Petition Interest to the extent such interest is a Secured Obligation) accrued to on the Senior Notes Fixed Assets Loans and unpaid, and second, to the payment of all amounts of principal at the time outstanding; (c) third, to the payment of, or the application to, any Secured Obligation (other than as provided in clause (b) above); (d) fourth, to fulfill any of the other covenants contained herein as the Beneficiary may determine; and (e) fifth, the balance, if any, to the Trustor.

Total Taking and Total Destruction. In the event of a Total Destruction or a Total Taking, the Beneficiary Mortgagee shall apply all amounts recovered under any insurance policy referred to in Section 2.1.1 and all awards received by it on account of any such Taking as follows: (a) first, to the payment of the reasonable costs and expenses incurred by the Beneficiary Mortgagee in obtaining any such insurance proceeds or awards, including the reasonable fees and expenses of attorneys and insurance and other experts and consultants, the costs of litigation, arbitration, mediation, investigations and other judicial, administrative or other proceedings and all other out-of-pocket expenses; (b) second, to the payment of the principal of the Senior Secured Notes and any interest (including Post-Petition Interest to the extent such interest is a Secured an Obligation) accrued and unpaid thereon, without regard to whether any portion or all of such amounts shall be matured or unmatured;, and, in case such amount shall be insufficient to pay in full all such amounts, then such amount shall be applied, first, to the payment of all amounts of interest (including Post-Petition Interest to the extent such interest is a Secured an Obligation) accrued to on the Senior Secured Notes and unpaid, and second, to the payment of all amounts of principal at the time outstanding; (c) third, to the payment of, or the application to, any Secured Obligation (other than as provided in clause (b) above); (d) fourth, to fulfill any of the other covenants contained herein as the Beneficiary Mortgagee may determine; and (e) fifth, the balance, if any, to the TrustorMortgagor.

Total Taking and Total Destruction. In the event of a Total Destruction or a Total Taking, the Beneficiary Grantee shall apply all amounts recovered under any insurance policy referred to in Section 2.1.1 and all awards received by it on account of any such Taking as follows: (a) first, to the payment of the reasonable costs and expenses incurred by the Beneficiary Grantee in obtaining any such insurance proceeds or awards, including the reasonable fees and expenses of attorneys and insurance and other experts and consultants, the costs of litigation, arbitration, mediation, investigations and other judicial, administrative or other proceedings and all other out-of-pocket expenses; (b) second, to the payment of the principal of the Senior Notes Fixed Assets Loans and any interest (including Post-Petition Interest to the extent such interest is a Secured Obligation) accrued and unpaid thereon, without regard to whether any portion or all of such amounts shall be matured or unmatured;, ; and, in case such amount shall be insufficient to pay in full all such amounts, then such amount shall be applied, first, to the payment of all amounts of interest (including Post-Petition Interest to the extent such interest is a Secured Obligation) accrued to on the Senior Notes Fixed Assets Loans and unpaid, and second, to the payment of all amounts of principal at the time outstanding; (c) third, to the payment of, or the application to, any Secured Obligation (other than as provided in clause (b) above); (d) fourth, to fulfill any of the other covenants contained herein as the Beneficiary Grantee may determine; and (e) fifth, the balance, if any, to the TrustorGrantor.