Rent Insurance Proceeds definition

Rent Insurance Proceeds. As defined in Section 13.8.
Sample 1Sample 2Sample 3
Rent Insurance Proceeds. As defined in Section 13.8. RESIDENCE AGREEMENTS: Collectively, all Subleases now or hereafter entered into by or on behalf of any Person allowing such Person to reside at the Facility.
Sample 1
Rent Insurance Proceeds. As defined in Section 13.8. RESIDENCE AGREEMENT: All contracts, agreements and consents executed by or on behalf of any resident or other Person seeking services at the Facility, including, without limitation, assignments of benefits and guarantees. RETAINAGE: As defined in Section 13.1.4. RIGHT OF FIRST REFUSAL: As defined in Section 18.3.1.
Sample 1

Examples of Rent Insurance Proceeds in a sentence

  • Notwithstanding the foregoing, the Lessor may at its option use or release the Rent Insurance Proceeds to pay for the Work and, if a Lease Default exists, the Lessor may apply all such insurance proceeds towards the Lease Obligations or hold such proceeds as security therefor.

  • Lessor shall direct all proceeds of rent loss and/or business interruption insurance (collectively, "Rent Insurance Proceeds") to be paid to Lessee, provided no fact or circumstance exists which constitutes, or with notice, or passage of time, or both, would constitute, a Lease Default pertaining to the Facility or the Leased Property.

  • Notwithstanding the foregoing, Lessor may at its option use or release the Rent Insurance Proceeds to pay for the Work and, if a Lease Default exists, Lessor may apply all such insurance proceeds towards the Lease Obligations or hold such proceeds as security therefor.

  • Lessor shall direct all proceeds ofrent loss and/or business interruption insurance (collectively, "Rent Insurance Proceeds") to be paid to Lessee, provided no fact or circumstance eists which constitutes, or with notice, or passage of time, or both, would constitute, a Lease Default pertaining to Facility or the Leased Property.

  • At its option, the Lender may waive any of the foregoing conditions to the payment of Rent Insurance Proceeds.

  • Provided that no Loan Default then exists and no state of facts exists which, with the giving of notice or passage of time, or both, would constitute a Loan Default, then the Lender shall direct all rent loss and/or business interruption insurance proceeds (collectively the "Rent Insurance Proceeds") to be paid to Borrower.

  • Lessor shall direct all proceeds of rent loss and/or business interruption insurance (collectively, "Rent Insurance Proceeds") to be paid to Lessee, provided no fact or circumstance exists which constitutes, or with notice, or passage of time, or both, would constitute, a Lease Default pertaining to Facility or the Leased Property.


More Definitions of Rent Insurance Proceeds

Rent Insurance Proceeds. As defined in Section 13.8. Residence Agreement: All contracts, agreements and consents executed by or on behalf of any resident or other Person seeking services at the Facility, including, without limitation, assignments of benefits and guarantees. Retainage: As defined in Section 13.1.3. Security Agreement: The Security Agreement as ofeven date herewith between Lessee and Lessor. State: The state or commonwealth in which the Leased Property is located. Sublease: Collectively, all subleases, licenses, use agreements, concession agreements, tenancy at will agreements and other occupancy agreements of every kind and nature (but excluding any Residency Agreement), whether oral or in writing, now in existence or subsequently entered into by Lessee, encumbering or affecting the Leased Property. Sublessee: Any sublessee, licensee, concessionaire, tenant or other occupant under any of the Subleases. 18
Sample 1
Rent Insurance Proceeds. As defined in Section I3.8. Residenee Aareement: All contracts, agreements and consents etecuted by or on behalf of any resident or other Person seeking services at the Facility, including, without limitation, assionments ofbenefits and guarantees. l7 Third Partv Pavnrs: Collectively, Medicare, Medicaid, Blue Cross and/or Blue Shield, private insurers and any other Person which presently or in the future maintains Third Party Payor Programs: UCC: The Uniform Commercial Code as in effect from time to time in the State. United States Treasury Securities: The uninsured treasury securities issued by the United States Federal Reserve Bank. Unsuitable For Its Primarv Intended Use: As used anywhere in this Lease, the term "Unsuitable For Its Primary Intended Use" shall mean that, by reason of Casualty, or a partial or temporary Taking by Condemnation, in the good faithjudgment of Lessor, the Facility cannot be operated on a commercially practicable basis for the Primary Intended Use, taking into account, among other relevant factors, the number of usable units or beds affected by such Casualty or partial or temporary Taking. Unavoidable Delavs: Delays due to strikes, lockouts, inability to procure materials, power failure, acts of God, govemmental restrictions, enemy action, civil commotion, fire, unavoidable casualty or other causes beyond the control of the party responsible for performing an obligation hereunder, provided that lack of funds shall not be deemed a cause beyond the control ofeither party hereto. Larade Rennvatinns: Repair and refurbishina other than normal janitorial, cleaning and maintenance activities. Work: As defined in Section I 3.1.1. Work Certifieates: As defmed in Section 1 i.l.4. Working Capital Loan: As defined in Section 6.1.?. Working Capital Stock Pledge: As defined in Section 16.1 (h).
Sample 1
Rent Insurance Proceeds. As defined in Section 8.8.
Sample 1

Related to Rent Insurance Proceeds

  • Net Insurance Proceeds Insurance Proceeds, to the extent such proceeds are not to be applied to the restoration of the related Mortgaged Property or released to the Mortgagor in accordance with the express requirements of the Mortgage or Note or other Loan Documents included in the Mortgage File or in accordance with the Servicing Standard, or with respect to the environmental insurance policy, applied to pay any costs, expenses, penalties, fines or similar items; provided that, in the case of an Outside Serviced Mortgage Loan, “Net Insurance Proceeds” under this Agreement shall be limited to any related Insurance Proceeds that are received by the Trust Fund in connection with such Outside Serviced Mortgage Loan, pursuant to the allocations set forth in the related Co-Lender Agreement.

  • Insurance Proceeds With respect to each Mortgage Loan, proceeds of insurance policies insuring the Mortgage Loan or the related Mortgaged Property.

  • Insurance and Condemnation Proceeds shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Net Insurance/Condemnation Proceeds means an amount equal to: (a) any Cash payments or proceeds (including Cash Equivalents) received by the Borrower or any of its Restricted Subsidiaries (i) under any casualty insurance policy in respect of a covered loss thereunder of any assets of the Borrower or any of its Restricted Subsidiaries (other than, for purposes of Section 2.11(b)(ii), assets acquired after the Closing Date with the proceeds of equity contributions to, or the issuance of Qualified Capital Stock of, the Borrower or its Restricted Subsidiaries (in each case, other than contributions by, or issuances to, the Borrower or a Restricted Subsidiary) or (ii) as a result of the taking of any assets of the Borrower or any of its Restricted Subsidiaries (other than, for purposes of Section 2.11(b)(ii), assets acquired after the Closing Date with the proceeds of equity contributions or the issuance of Qualified Capital Stock of the Borrower or its Restricted Subsidiaries (in each case, other than contributions by, or issuances to, the Borrower or a Restricted Subsidiary)) by any Person pursuant to the power of eminent domain, condemnation or otherwise, or pursuant to a sale of any such assets to a purchaser with such power under threat of such a taking, minus (b) (i) any actual out-of-pocket costs and expenses incurred by the Borrower or any of its Restricted Subsidiaries in connection with the adjustment, settlement or collection of any claims of the Borrower or the relevant Restricted Subsidiary in respect thereof, (ii) payment of the outstanding principal amount of, premium or penalty, if any, and interest and other amounts on any Indebtedness (other than the Loans and any Indebtedness secured by a Lien on the Collateral that is pari passu with or expressly subordinated to the Lien on the Collateral securing any Secured Obligation) that is secured by a Lien on the assets in question and that is required to be repaid or otherwise comes due or would be in default under the terms thereof as a result of such loss, taking or sale, or payment of other amounts due to, or required to be made available to, any Person under any other Contractual Obligation binding such assets or to which such assets are subject (including, without limitation, in the case of Real Estate Assets, any ground lease, lease or other occupancy agreement) (iii) in the case of a taking, the reasonable out-of-pocket costs of putting any affected property in a safe and secure position, (iv) any selling costs and out-of-pocket expenses (including reasonable broker’s fees or commissions, legal fees, accountants’ fees, investment banking fees, survey costs, title insurance premiums, and related search and recording charges, transfer taxes, deed or mortgage recording taxes, other customary expenses and brokerage, consultant and other customary fees actually incurred in connection therewith and the Borrower’s good faith estimate of income Taxes paid or payable (including pursuant to Tax sharing arrangements or any intercompany distribution)) in connection with any sale or taking of such assets as described in clause (a) of this definition, (v) any amounts provided as a reserve in accordance with GAAP against any liabilities under any indemnification obligation or purchase price adjustments associated with any sale or taking of such assets as referred to in clause (a) of this definition (provided that to the extent and at the time any such amounts are released from such reserve, such amounts shall constitute Net Insurance/Condemnation Proceeds) and (vi) in the case of any covered loss or taking from a non-Wholly-Owned Subsidiary, the pro rata portion thereof (calculated without regard to this clause (vi)) attributable to minority interests and not available for distribution to or for the account of the Borrower or a Wholly-Owned Subsidiary as a result thereof.

  • Insurance Proceeds Account has the meaning given to such term in the Accounts Agreement.

  • Condemnation Proceeds All awards or settlements in respect of a Mortgaged Property, whether permanent or temporary, partial or entire, by exercise of the power of eminent domain or condemnation, to the extent not required to be released to a Mortgagor in accordance with the terms of the related Mortgage Loan Documents.

  • Insurance and Condemnation Event means the receipt by the Borrower or any of its Subsidiaries of any cash insurance proceeds or condemnation award payable by reason of theft, loss, physical destruction or damage, taking or similar event with respect to any of their respective property or assets.

  • Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower, any Parent Guarantor or any of their respective Subsidiaries in connection therewith, but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first-priority Lien permitted by Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Net Condemnation Proceeds The Condemnation Proceeds received with respect to any Mortgage Loan or Serviced Companion Loan (including an REO Mortgage Loan or REO Companion Loan) net of the amount of (i) costs and expenses incurred with respect thereto and (ii) amounts required to be applied to the restoration or repair of the related Mortgaged Property; provided that, in the case of an Outside Serviced Mortgage Loan, “Net Condemnation Proceeds” under this Agreement shall be limited to any related Condemnation Proceeds that are received by the Trust Fund in connection with such Outside Serviced Mortgage Loan, pursuant to the allocations set forth in the related Co-Lender Agreement.

  • Loss Proceeds means, collectively, all Insurance Proceeds and all Condemnation Proceeds.

  • Casualty insurance means liability insurance.

  • Casualty Amount means five hundred thousand Dollars (USD500,000) (or the equivalent in any other currency);

  • Net Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower or any of its U.S. Subsidiaries in connection with such Casualty Event (net of all collection or similar expenses related thereto), but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first priority Lien permitted by clause (d) of Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Insurance Amount has the meaning set forth in Section 6.12(b).

  • Event of Loss Proceeds means, with respect to any proceeds from any Event of Loss, all Satellite insurance proceeds received by the Issuer or any of the Restricted Subsidiaries in connection with such Event of Loss, after

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • Insurance Rent the sums described in paragraph 1.1 of Schedule 4; “Insured Risks” the risks of fire (including subterranean fire), lightning, explosion, storm, flood, subsidence, landslip, heave, earthquake, burst or overflowing water pipes, tanks or apparatus, impact by aircraft or other aerial devices and any articles dropped from them, impact by vehicles, terrorism, riot, civil commotion and malicious damage to the extent, in each case, that cover is generally available on normal commercial terms in the UK insurance market at the time the insurance is taken out, and any other risks against which the Landlord reasonably insures from time to time, subject in all cases to any excesses, limitations and exclusions imposed by the insurers;10

  • Excess Liquidation Proceeds Reserve Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.05(c) of this Agreement in trust for the Certificateholders, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2019-C7, Commercial Mortgage Pass-Through Certificates, Series 2019-C7, Excess Liquidation Proceeds Reserve Account.” Any such account shall be an Eligible Account.

  • Excess Insurance shall not apply to any insurance coverage currently held by The Government of Bermuda, or to our Self-Insured Retentions of whatever nature.

  • Total Loss Proceeds means the proceeds of any insurance or any compensation or similar payment arising in respect of a Total Loss.

  • Liquidation Proceeds Amounts, including Insurance Proceeds, received in connection with the partial or complete liquidation of defaulted Mortgage Loans, whether through trustee's sale, foreclosure sale or otherwise or amounts received in connection with any condemnation or partial release of a Mortgaged Property and any other proceeds received in connection with an REO Property, less the sum of related unreimbursed Servicing Fees and Advances.

  • Loss Proceeds Account has the meaning set forth in Section 3.3(a).

  • Special Primary Insurance Premium With respect to any Special Primary Insurance Policy, the monthly premium payable thereunder. Statutory Trust Statute: Chapter 38 of Title 12 of the Delaware Code, 12 Del.C. §3801 et seq., as the same may be amended from time to time.

  • Reimbursement insurance policy means a policy of insurance

  • Cumulative Insurance Payments As defined in the Series Supplement.

  • Tax and Insurance Escrow Fund shall have the meaning set forth in Section 7.2 hereof.