Example ContractsClausesno condemnationVariants
No Condemnation
No Condemnation contract clause examples

Withdrawals from the Insurance, Condemnation and Extraordinary Proceeds Account. The Borrower shall not make, direct, or request the Accounts Bank to make, any withdrawals from the Insurance, Condemnation and Extraordinary Proceeds Account except as permitted by this [Section 4.6] and provided that no Notice of Suspension has been delivered that has not been withdrawn and no Event of Default has occurred and is continuing or would occur as a result of such transfer or withdrawal.

Amounts of ​ or Less. If such proceeds are in an aggregate amount of ​ or less (taken together with any other proceeds of asset disposals deposited in the Insurance, Condemnation and Extraordinary Proceeds Account during then-current Fiscal Year), the Borrower may submit an Insurance, Condemnation and Extraordinary Proceeds Request Certificate to the Accounts Bank (with a copy to the Lender), certified by a Financial Officer of the Borrower, directing the transfer of such funds to the Revenue Account. Until receipt of a Notice of Suspension by the Accounts Bank, the Accounts Bank may follow the instructions of the Borrower under this [Section 4.6(c)(i)] without any consent of or instructions from the Lender or any other Person.

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