Insurance Trust Agreement definition

Insurance Trust Agreement means this insurance trust agreement.

Insurance Trust Agreement means the agreement dated as of the date hereof between Hospital, Agent, Project Co, Contractor and Computershare Trust Company of Canada governing the receipt and distribution of certain insurance proceeds and performance security proceeds as therein set forth.

Insurance Trust Agreement means an agreement between the Parties, the Lender and a trustee acceptable to the Parties and the Lender governing the receipt and distribution of property insurance proceeds which shall be consistent with industry standards and provide for the disbursement of proceeds by way of progress draws as the restoration work proceeds in accordance with a progress payment procedure substantially similar to that contained in PART 5 – PAYMENT of the Construction Contract.

Examples of Insurance Trust Agreement in a sentence

• In the event of substantial damage to the Property Buyer may at Buyer’s option either permit the proceeds of insurance to be used for repair of such damage in accordance with the provisions of the Insurance Trust Agreement, or terminate this Agreement and all deposit monies paid by Buyer hereunder shall be refunded without interest or deduction.

• If any provision of this Insurance Trust Agreement is declared invalid, unenforceable or illegal by the courts of a competent jurisdiction, such provision may be severed and such invalidity, unenforceability or illegality shall not prejudice or affect the validity, enforceability and legality of the remaining provisions of this Insurance Trust Agreement.

• This Insurance Trust Agreement is not intended to and does not create or establish between the Parties any relationship as partners, joint venturers, employer and employee, master and servant, or, except as provided in this Insurance Trust Agreement, of principal and agent.

• If any such provision of this Insurance Trust Agreement is invalid, unenforceable or illegal, the Parties shall, acting in good faith, promptly negotiate new provisions to eliminate such invalidity, unenforceability or illegality and to restore this Insurance Trust Agreement as near as possible to its original intent and effect.

• Grand Chief Norwegian shared about what has been done to protect the water in the last decades and emphasized the importance, when talking about water, of looking at what is going to be left for the children in the next 20 years.

More Definitions of Insurance Trust Agreement

Insurance Trust Agreement means that certain agreement, if any, between the Association and the Insurance Trustee providing for the management and disbursement of insurance proceeds in accordance with Section 15.3 hereof.

Insurance Trust Agreement means the agreement dated as of the date hereof between Hospital, Lender, Project Co, Contractor and a trustee acceptable to the Parties and the Lender governing the receipt and distribution of insurance proceeds as therein set forth.

Insurance Trust Agreement means the insurance trust agreement to be entered into between the Authority, the Senior Lenders, Project Co and the Account Trustee in the form set out in Schedule 20 - Insurance Trust Agreement;

Insurance Trust Agreement means the agreement to be entered into between the Province, the Agent, the Insurance Trustee and Project Co in the form set out in Schedule 18 [Insurance Trust Agreement], as amended, supplemented or replaced from time to time.

Insurance Trust Agreement means the insurance trust agreement made as of [August 17], 2015 among the Authority, Project Co, the Account Trustee and the Lenders’ Agent (as defined in the Insurance Trust Agreement);

Insurance Trust Agreement has the meaning set forth in Section 5.2(b)(ii).

Insurance Trust Agreement means any agreement between the Association and the Insurance Trustee providing for the management and disbursement of insurance proceeds.