Application of Net Proceeds of Insurance. The Net Proceeds of the insurance carried pursuant to the provisions of Sections 6.4(a)(ii) and (iii) and similar insurance carried by any contractor shall be applied toward extinguishment or satisfaction of the liability with respect to which such insurance proceeds have been paid. The Net Proceeds of insurance carried pursuant to Section 6.4(a)(i) shall be transferred to the Custodian and deposited in the Project Restoration Fund to be applied as provided in Article VII hereof.
Appears in 1 contract
Sources: Lease Agreement (Nb Finance Corp)
Application of Net Proceeds of Insurance. The Net Proceeds of the insurance carried pursuant to the provisions of Sections 6.4(a)(ii6.4(a)(i) and (iiiii) and similar insurance carried by any contractor shall be applied toward extinguishment or satisfaction of the liability with respect to which such insurance proceeds have been paid. The Net Proceeds of insurance carried pursuant to Section 6.4(a)(i) shall be transferred to the Custodian and deposited in the Project Restoration Fund to be applied as provided in Article VII hereof.
Appears in 1 contract
Sources: Lease Agreement (Carbo Ceramics Inc)
Application of Net Proceeds of Insurance. The Net Proceeds of the insurance carried pursuant to the provisions of Sections 6.4(a)(ii) and (iii) and similar insurance carried by any contractor shall be applied toward extinguishment or satisfaction of the liability with respect to which such insurance proceeds have been paid. The Net Proceeds of insurance carried pursuant to Section 6.4(a)(i) shall be transferred to the Custodian and deposited in the Project Restoration Fund to be applied as provided in Article VII hereof.
Appears in 1 contract