Application for Disbursement. In connection with any Construction Work in connection with a Casualty Restoration costing in excess of the Threshold Amount, the Depositary shall pay to Tenant the Restoration Funds from time to time in installments as the Casualty Restoration progresses, in the manner and at the times as required by the Recognized Mortgagee most senior in lien. If there is no Recognized Mortgagee or the Recognized Mortgage has no provision relating to the disbursement of the Restoration Funds, then, subject to the provisions of Sections 8.2(a), 8.3(a), 8.3(b)(ii), 8.4 and 8.5 hereof, the Restoration Funds shall be paid to Tenant in installments as the Casualty Restoration progresses, upon application to be submitted by Tenant to Depositary and Landlord showing the cost of labor and the cost of materials, fixtures and equipment that either have (A) been incorporated in the Buildings since the last previous application and either have been paid for by Tenant or are then due and owing by Tenant, or (B) not been incorporated in the Buildings but have been purchased since the last previous application and either have been paid for by Tenant, or payment for same is then due and owing by Tenant and such material, fixtures and equipment are insured by Tenant for one hundred percent (100%) of the cost thereof and stored at a secure and safe location either on, or outside of, the Premises. Depositary shall not make any installment payment to Tenant for materials, fixtures and equipment, purchased but not yet incorporated in the Buildings, until Tenant shall have delivered to Landlord certificates of insurance evidencing that such materials, fixtures and equipment are insured for one hundred percent (100%) of the cost thereof.
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Sources: Lease Agreement
Application for Disbursement. In connection with any Construction Work in connection with a Casualty Restoration costing in excess of the Threshold AmountTenant Restoration, the Landlord shall direct Depositary shall to pay to Tenant the Restoration Funds from time to time in installments as the Casualty Restoration progresses, in the manner and at the times as required by the Recognized Mortgagee most senior in lienlien including, without limitation, for the payment of interest to the Recognized Mortgagee and any Recognized Mezzanine Lender. If there is no Recognized Mortgagee or the Recognized Mortgage has no provision relating to the disbursement of the Restoration Funds, then, subject to the provisions of Sections 8.2(a)8.1, Section 8.2, Section 8.3(a), 8.3(b)(iiSection 8.3(e)(ii), Section 8.4 and Section 8.5 hereof, the Restoration Funds shall be paid to Tenant in installments as the Casualty Restoration progresses, upon application to be submitted by Tenant to Depositary and Landlord showing the cost of labor and the cost of materials, fixtures and equipment that either have (A) been incorporated in the Buildings since the last previous application and either have been paid for by Tenant or are then due and owing by Tenant, or (B) not been incorporated in the Buildings Building but have been purchased since the last previous application and either have been paid for by Tenant, Tenant or payment for same is are then due and owing by Tenant ▇▇▇▇▇▇ and such material, fixtures and equipment are insured by Tenant for one hundred percent (100%) of the cost thereof and stored at a secure and safe location either on, or outside of, the Premises. Depositary shall not make any installment payment to Tenant for materials, fixtures and equipment, purchased but not yet incorporated in the BuildingsBuilding, until Tenant shall have delivered to Landlord certificates of insurance evidencing that such materials, fixtures and equipment are insured for one hundred percent (100%) of the cost thereof.
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