Common use of Surplus Proceeds Clause in Contracts

Surplus Proceeds. If there remains any surplus of insurance proceeds after the completion of the repair or reconstruction of the applicable portion of the Premises to Landlord's reasonable satisfaction, such surplus shall belong to and be paid to Tenant.

Appears in 3 contracts

Sources: Master Lease and Security Agreement (American Retirement Corp), Master Lease and Security Agreement (American Retirement Corp), Master Lease and Security Agreement (American Retirement Corp)