Insurance Casualty and Condemnation. 38 Section 6.1. Insurance Coverage...............................................38 Section 6.2. Condemnation.....................................................45
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. (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. 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. 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. (a) Borrower shall, at its (or its Subsidiary's) sole cost and expense maintain or cause to be maintained, the policies of insurance in such amounts and as otherwise described in Annex E. Borrower shall notify Agent promptly of any occurrence causing a material loss or decline in value of any real or personal property and the estimated (or actual, if available) amount of such loss or decline, except as specified otherwise on Annex E. Borrower irrevocably makes, constitutes and appoints Agent (and all officers, employees or agents designated by Agent) as Borrower's true and lawful agent and attorney-in-fact for the purpose during the continuation of any Event of Default of (i) making, settling and adjusting claims relating to the Collateral under the "All Risk" policies of insurance, (ii) endorsing the name of Borrower on any check, draft, instrument or other item of payment for the proceeds of such "All Risk" policies of insurance relating to the Collateral, and (iii) making all determinations with respect to any settlements or adjustments referred to in clause (i) above. In the event Borrower at any time or times hereafter shall fail to obtain or maintain (or fail to cause to be obtained or maintained) any of the policies of insurance required above or to pay any premium in whole or in part relating thereto, Agent or Lenders, without waiving or releasing any Obligations or Default hereunder, and after notice from Agent to Borrower, may at any time or times thereafter (but shall not be obligated to) obtain and maintain such policies of insurance and pay such premium and take any other action with respect thereto which Agent or Lenders deem advisable. All sums so disbursed, including attorneys' fees, court costs and other charges related thereto, shall be payable, on demand, by Borrower to Agent on behalf of Lenders and shall be additional Obligations hereunder secured by the Collateral; provided, however, that if and to the extent Borrower fails to promptly pay any of such sums upon Agent's demand therefor, Agent is authorized to, and at its option may, make or cause to be made Revolving Credit Advances on behalf of Borrower for payment thereof, even if the making of any such Revolving Credit Advance causes the outstanding balance of the Revolving Credit Loan to exceed the Borrowing Availability, and Borrower agrees that the making of any such Advance in excess of the Borrowing Availability shall constitute an automatic Event of Default, unless Borrower re...
Insurance Casualty and Condemnation. If, before the Closing, one or more Properties is damaged by fire or other casualty, and such damage together with all other casualties occurring prior to the Closing do not individually or in the aggregate result in a Total Material Adverse Effect, then the Closing shall proceed as scheduled and the applicable Seller shall, at the Closing, (i) pay to Buyer all insurance proceeds received by such Seller to date with respect to such damage, destruction or other loss, less any proceeds applied to the physical restoration of such Property; provided, that if such insurance proceeds are not sufficient to fully repair or restore such Property, such Seller shall pay Buyer an additional amount equal to such shortfall (the “Shortfall Amount”) and (ii) assign to Buyer all rights of such Seller 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 damage, destruction or other loss; provided, however, that any recovery of money from any third Person pursuant to the rights conveyed under this subsection (ii) shall be paid, following the payment of Buyer’s out of pocket fees and expenses, to the applicable Seller until such Seller has been repaid the Shortfall Amount. The obligations of each Seller pursuant to the prior sentence shall constitute full compensation for the damage to such Property, and after the Closing such Seller shall have no responsibility for restoration or repair of its Property or any resultant loss, directly, by subrogation, or otherwise. In the event that any casualty or casualties occurring prior to the Closing individually or in the aggregate, results in a Total Material Adverse Effect, then Buyer shall have fifteen (15) days to exercise its termination right under Section 10.1(h) hereof; provided, however, that, if requested by Buyer, the applicable Seller(s) and Buyer shall discuss and consult in good faith for a period of up to thirty (30) days after any such casualty to discuss whether such casualty (individually or together with any prior casualties) constitutes to a Total Material Adverse Effect, and after any such period expires, Buyer shall have fifteen (15) days to exercise its termination right pursuant to Section 10.1(h) hereof with respect to such casualty.
Insurance Casualty and Condemnation. 100 SECTION 6.1. Insurance ............................................................................................................. 100 SECTION 6.2. Casualty ............................................................................................................... 103 SECTION 6.3. Condemnation ..................................................................................................... 104 SECTION 6.4. Application of Net Proceeds ............................................................................... 104 ARTICLE VII
