Insurance Casualty and Condemnation. 38 Section 6.1. Insurance Coverage...............................................38 Section 6.2. Condemnation.....................................................45
Insurance Casualty and Condemnation. (a) Prior to the Closing and notwithstanding the pendency of this Agreement, the entire risk of loss or damage by earthquake, hurricane, tornado, flood, landslide, fire, acts of war, terrorism, terrorist activities or other casualty shall be borne and assumed by Seller. If, prior to the Closing, any portion of the Property is damaged by earthquake, hurricane, tornado, flood, landslide, fire, acts of war, terrorism, terrorist activities or other casualty, and such casualty, destruction, loss or damage does not result in a Casualty Termination Event, then Seller shall promptly repair or replace such damaged Property to substantially the same condition as, or better condition than, it was immediately prior to such casualty, destruction, loss or damage. In the event that it is not feasible to complete the repair or replacement prior to the Closing Date, the Closing shall proceed as scheduled and Seller shall, as of the Closing Date, (i) promptly pay to Buyer all insurance proceeds received by Seller or its Affiliates to date with respect to such casualty, destruction, loss or damage, less any proceeds applied to the physical restoration of the Property; provided, that if such insurance proceeds are not sufficient for Buyer to repair or restore the Property to substantially the same condition as it was in immediately prior to such casualty, destruction, loss or damage, Seller shall pay Buyer an additional amount equal to such shortfall (the “Shortfall Amount”); and provided, further, that if any such insurance proceeds remain unused after Buyer has repaired or restored the Property to substantially the same condition as it was in immediately prior to such casualty, destruction, loss or damage, then Buyer shall remit to Seller an amount equal to such remaining unused insurance proceeds; and (ii) assign to Buyer all rights of Seller and its Affiliates against third parties (other than against its insurance carriers) with respect to any causes of action, whether or not litigation has commenced as of the Closing Date, in connection with such casualty, destruction, loss or damage; provided, however, that the proceeds of such insurance shall not be subject to any applicable deductibles and co-payment provisions, which shall be the responsibility of Seller and shall be paid to Buyer or applied to such repair or replacement as applicable; and provided, further, that any recovery of money from any third Person pursuant to the rights conveyed under this subsection (ii) s...
Insurance Casualty and Condemnation. 5.1 Mortgagor shall keep the Mortgaged Property and each and every part of it constantly insured as may be required from time to time by Mortgagee.
Insurance Casualty and Condemnation. 5.1.1 Borrower shall obtain and maintain, or cause to be maintained, insurance for Borrower and each of the Individual Properties providing at least the following coverages:
Insurance Casualty and Condemnation. 58 7.1 Insurance. ..................................................... 58 7.1.1 Coverage .............................................. 58 7.1.2 Policies .............................................. 60 7.1.3 Modification of Insurance Requirements ................ 61 7.2 Casualty. ...................................................... 61 7.2.1 Notice; Restoration ................................... 61 7.2.2 Settlement of Proceeds ................................ 62 7.3 Condemnation. .................................................. 62 7.3.1
Insurance Casualty and Condemnation. (a) The Issuer will, and will cause each of the Subsidiaries to, maintain, with financially sound and reputable insurance companies insurance in such amounts (with no greater risk retention) and against such risks as are customarily maintained by companies of established repute engaged in the same or similar businesses operating in the same or similar locations and all insurance required to be maintained pursuant to the Security Documents. The Issuer will furnish to the Trustee and the Collateral Agent, upon request in writing, information in reasonable detail as to the insurance so maintained.
Insurance Casualty and Condemnation. Section 7.1
Insurance Casualty and Condemnation. Notwithstanding any contrary or inconsistent provisions contained in any Lease or in the Credit Agreement, with respect to each and every Property which is both (a) part of the Collateral Pool Assets under the Credit Facility and (b) demised to Tenant pursuant to a Lease, the following provisions will apply:
Insurance Casualty and Condemnation. If, before the Closing, the Hotel/Casino is damaged by fire or other casualty, and such damage is not a Partnership Material Adverse Effect, then the Closing shall proceed as scheduled and Sellers shall, after the Closing Date, promptly pay to Buyer all insurance proceeds received by Sellers with respect to such damage, destruction or other loss, less any proceeds applied to the physical restoration of the Hotel/Casino and, if such insurance proceeds are not sufficient to fully repair or restore the Hotel/Casino, Sellers shall pay Buyer an additional amount equal to such shortfall; provided, that Sellers and their Affiliates shall have no responsibility for restoration or repair of the Hotel/Casino or any resultant loss, directly, by subrogation, or otherwise.
Insurance Casualty and Condemnation. 11.01 Provider’s Insurance • The developer is required to maintain Workers’ Comp. and General Liability Insurance. • (The Town has reviewed these levels with our insurance broker to make sure they are adequate.)
