Insurance Trustee definition

Insurance Trustee means an entity authorized to carry on the business of a trust company under the laws of Alberta selected from time to time on resolution of the Board, whose duties include the receiving, holding and disbursing of proceeds of policies of insurance pursuant to these Bylaws and the Act. If no Insurance Trustee is appointed, then the Insurance Trustee shall be the Board;

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Insurance Trustee means The Bank of New York, New York, New York, or any successor thereto, as the Insurance Trustee under the Policy.

Insurance Trustee means that certain entity responsible for the management and disbursement of insurance proceeds pursuant to the Insurance Trust Agreement, if any.

Examples of Insurance Trustee in a sentence

• The reasonable expenses and charges of the architect or engineer retained by the Insurance Trustee shall be paid by the Insurance Trustee out of the trust fund.

• If the Premises is destroyed from a risk covered by the insurance and the total amount of loss exceeds Twenty Thousand Dollars ($20,000), Concessionaire shall make the loss adjustment with the insurance company insuring the loss and on receipt of the proceeds shall immediately pay them to an institutional lender or title company doing business within the Harbor District and approved by the Landlord ("Insurance Trustee").

• If the sums held by the Insurance Trustee are not sufficient to pay the actual cost of restoration Concessionaire, or both the Concessionaire and Landlord in the case of a restoration pursuant to the Landlord's election, the parties shall deposit the amount of the deficiency with the Insurance Trustee within twenty (20) days after request by the Insurance Trustee indicating the amount of the deficiency.

• If the Insurance Trustee, in its reasonable discretion, determines that the certificates or vouchers are being improperly approved by the architect or engineer retained by Concessionaire, the Insurance Trustee shall have the right to appoint an architect or an engineer to supervise construction and to make payments on certificates or vouchers approved by the architect or engineer retained by the Insurance Trustee.

• If the Premises is destroyed from a risk covered by the insurance and the total amount of loss exceeds Twenty Thousand Dollars ($20,000), Lessee shall make the loss adjustment with the insurance company insuring the loss and on receipt of the proceeds shall immediately pay them to an institutional lender or title company doing business within the Harbor District and approved by the District ("Insurance Trustee").

More Definitions of Insurance Trustee

Insurance Trustee has the meaning given to it in Section 12.9;

Insurance Trustee means a person, firm or corporation selected from time to time on resolution of the Board, whose duties include the receiving, holding and disbursing of proceeds of policies of insurance pursuant to these Bylaws and the Act. If no Insurance Trustee is appointed, then the Insurance Trustee is the Board;

Insurance Trustee has the meaning specified in the Insurance Policy. The Insurance Policy specifies that the United States Trust Company of New York is initially the Insurance Trustee.

Insurance Trustee has the meaning set forth in the preamble to this Agreement.

Insurance Trustee means the Trustee or, if the Trustee so elects, any bank, trust company or insurance company with a net worth in excess of $100,000,000, designated by the Trustee.

Insurance Trustee means the insurance trustee (if any) appointed pursuant to the Condominium Bylaws.

Insurance Trustee means any Company Mortgagee designated to serve as Insurance Trustee under the Lease by notice from Tenant to Landlord or, if no Company Mortgagee then exists or if the Company Mortgagee so designated does not satisfy the following requirements for being an Insurance Trustee, then an Institutional Lender having offices in the State of Texas, designated by Tenant and Approved by Landlord, but only if, and for so long as, any such Company Mortgagee or Institutional Lender satisfies all of the following requirements: