Common use of Uninsured Losses/Policy Deductibles Clause in Contracts

Uninsured Losses/Policy Deductibles. Subject to Section 12.3 (Termination), as Casualty Repair Work progresses during the Term, StadCo shall be obligated to pay for all costs and expenses of any such Casualty Repair Work (including any deductibles) that are not covered by Insurance Proceeds or for which Insurance Proceeds are inadequate (such amounts being included within the term “Casualty Expenses”); provided, however, StadCo shall be entitled to reimbursement of such Casualty Expenses (excluding deductibles) from the Stadium Authority Capital Projects Fund and/or StadCo Capital Projects Fund.

Uninsured Losses/Policy Deductibles. Subject to Section 12.3 (Termination)12.3, as Casualty Repair Work progresses during the Term, StadCo shall be obligated to pay for all costs and expenses of any such Casualty Repair Work (including any deductibles) that are not covered by Insurance Proceeds or for which Insurance Proceeds are inadequate (such amounts being included within the term “Casualty Expenses”); provided, however, StadCo shall be entitled to reimbursement of such Casualty Expenses (excluding deductibles) from the Stadium Authority Capital Projects Fund and/or StadCo Capital Projects Fund.