Property Insurance Proceeds. Proceeds of any title policy, hazard policy or other insurance policy covering a Mortgage Loan, to the extent such proceeds are received by the Servicer and are not to be applied to the restoration of the related Mortgaged Property or released to the Mortgagor in accordance with the Servicer's servicing procedures, subject to the terms and conditions of the related Mortgage Note and Mortgage.
Property Insurance Proceeds means net proceeds (after reasonable costs of adjustment and collection, including Legal Costs) of Property Insurance, when and as received by Landlord or Tenant, excluding proceeds of Tenant’s business interruption insurance in excess of Rent.
Property Insurance Proceeds. With respect to any Mortgaged Property, all amounts collected in respect of any related insurance policy that insures such Mortgaged Property or the related Obligor and not required to be applied to the restoration of any such Mortgaged Property or paid to the related Obligor (but excluding any Insured Payments).
Examples of Property Insurance Proceeds in a sentence
If an Insubstantial Condemnation occurs, then any Condemnation Award shall be paid to the County to be applied first for Restoration in the same manner as Property Insurance Proceeds.
If, however, the Casualty is a Substantial Casualty, then the Operator may, by Notice to the County, given within thirty (30) days after the occurrence of the Casualty, terminate this Agreement effective ninety (90) days after such Notice, provided that the Operator assigns to the County all of the Operator’s right, title and interest in and to any Property Insurance Proceeds (and rights thereto) arising from the Casualty.
More Definitions of Property Insurance Proceeds
Property Insurance Proceeds. All proceeds received under any Property Insurance Policy that provides coverage with respect to any Mortgaged Property or the related Mortgage Loan, if applicable.
Property Insurance Proceeds. As defined in the Property Management Agreement.
Property Insurance Proceeds means net proceeds (after reasonable costs of adjustment and collection, including Legal Costs) of property insurance, when and as received by Lessor, Lessee, Depository, or any mortgagee, excluding proceeds of Lessee’s business interruption insurance in excess of Rent.
Property Insurance Proceeds. All proceeds received under any Property Insurance Policy that provides coverage with respect to any Mortgaged Property or the related Mortgage Loan, if applicable. “ Property Management Fee ”: With respect to each Mortgage Loan and each Mortgaged Property owned by the Issuer, the fee payable to the Property Manager pursuant to Section 3.11(a) . “Property Management Fee Rate ”: With respect to each Mortgage Loan and each Lease, a fixed percentage rate equal to 0.25% per annum. “Property Manager ”: Spirit Realty, in its capacity as property manager under this Agreement, or any successor property manager appointed as herein provided. “Property Manager Additional Servicing Compensation ”: As defined in Section 3.11(b) . “Property Protection Advances ”: With respect to the Leases, the Mortgage Loans and the Mortgaged Properties: (i) All customary, reasonable and necessary out-of-pocket costs and expenses incurred by the Property Manager or the Back-Up Manager, in connection with servicing the Leases, the Mortgaged Properties and the Mortgage Loans, in accordance with the Servicing Standard and this Agreement, for the purpose of paying (a) real estate taxes, (b) in the case of Leasehold Mortgaged Properties, payments required to be made under the related ground leases, (c) premiums on Property Insurance Policies (not already paid pursuant to Section 2.11 of the Indenture, as confirmed by the applicable Issuers) and (d) other amounts necessary to preserve or maintain the security interest and lien of the Indenture Trustee in, and value of, each related Mortgaged Property (including any costs and expenses necessary to re-lease such Mortgaged Property), Lease or Mortgage Loan (including costs and expenses related to collection efforts). (ii) All customary, reasonable and necessary out-of-pocket costs and expenses incurred by the Property Manager or the Back-Up Manager (or, if applicable, the Special Servicer) in connection with the servicing of a Mortgage Loan after a default, delinquency or other unanticipated event, or in connection with the administration of any REO Property, including, but not limited to, the cost of (a) 20 US-DOCS\ 96557504.7 102826315.7
Property Insurance Proceeds means insurance proceeds payable in respect of Property Insurance and includes any money derived from investing any of such proceeds;
Property Insurance Proceeds means net proceeds (after reasonable costs of adjustment and collection, including Legal Costs) of Property Insurance, when and as received by Landlord, Tenant, Depository, or any Fee Mortgagee or Leasehold Mortgagee, excluding proceeds of Tenant’s business interruption insurance in excess of Rent.
Property Insurance Proceeds means net proceeds (after reasonable costs of adjustment and collection, including Legal Costs) of Property Insurance, when and as received by the Authority or the Operator.