Application of insurance money following failure to reinstate Sample Clauses

Application of insurance money following failure to reinstate. On service of a notice following failure to reinstate, all money received in respect of the Flat under the insurance effected by the Landlord pursuant to this Lease (so far as not properly expended in or about reinstatement) shall be divided between the Landlord and the Tenant in proportion to the values of their respective interests in the Flat at the time of the damage or destruction giving rise to the payment. In the event of any dispute the proportions may be determined under the provisions of the Arbitration Act 1996 by a single arbitrator to be appointed by agreement between the Landlord and the Tenant or in default of agreement by or on behalf of the President for the time being of the Royal Institution of Chartered Surveyors at the request of either party.
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Related to Application of insurance money following failure to reinstate

  • Insurance The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage. Neither the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant increase in cost.

  • Governing Law This Agreement shall be governed by and construed in accordance with the laws of the State of New York.

  • Miscellaneous The Vendor acknowledges and agrees that continued participation in TIPS is subject to TIPS sole discretion and that any Vendor may be removed from the participation in the Program at any time with or without cause. Nothing in the Agreement or in any other communication between TIPS and the Vendor may be construed as a guarantee that TIPS or TIPS Members will submit any orders at any time. TIPS reserves the right to request additional proposals for items or services already on Agreement at any time.

  • Severability Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

  • Termination In the event that either Party seeks to terminate this DPA, they may do so by mutual written consent so long as the Service Agreement has lapsed or has been terminated. Either party may terminate this DPA and any service agreement or contract if the other party breaches any terms of this DPA.