Common use of Amounts of Coverage Clause in Contracts

Amounts of Coverage. For the purposes of this ------------------- Section 2.10, the term "full insurable value" shall mean the cost of replacing the improvements and the Personal Property, exclusive of the cost of excavations, foundations, and footings, as determined from time to time (but not less often than once every three years) by the insurance company or companies holding such insurance or by an appraiser, engineer, architect or contractor proposed by the Grantor and approved by said insurance company or companies and the Beneficiary. All deductibles shall be commercially reasonable and, in any event, subject to the prior written approval of the Beneficiary or the Beneficiary's designee.

Amounts of Coverage. For the purposes of this ------------------- Section section 2.10, ------------------- the term "full insurable value" shall mean the cost of replacing the improvements Improvements and the Personal Property, exclusive of the cost of excavations, foundations, foundations and footings, as determined from time to time (but not less often than once every three years) by the insurance company or companies holding such insurance or by an appraiser, engineer, architect or contractor proposed by the Grantor Mortgagor and approved by said insurance company or companies and the BeneficiaryMortgagee. All deductibles shall be commercially reasonable and, in any event, subject to the prior written approval of the Beneficiary Mortgagee or the BeneficiaryMortgagee's designee.