Use of Certain Insurance Proceeds. Whenever this Agreement is terminated pursuant to Section 11B following a Force Majeure Event or Political Event or Change in Law, and the GOB is obligated to pay compensation to the Company pursuant to Section 14.1 and insurance proceeds are available in connection with the Force Majeure Event or Political Event or Change in Law, the total amount of the net proceeds made available under the insurance policies to which the Company is entitled with respect to the Facility shall, if not used to effect a Restoration or make repairs to the Facility, be used to pay the following items in the following order of priority: (i) to the payment of all indebtedness secured by the Facility; (ii) then to the other compensation, if any, payable by the GOB to the Company as set forth in Schedule 2; and (iii) then to the Company.
Appears in 5 contracts
Samples: Implementation Agreement, Implementation Agreement, Implementation Agreement
