Example ContractsClausesrestorationVariants
Restoration
Restoration contract clause examples

The excess, if any, of the Net Proceeds and the remaining balance, if any, of the Net Proceeds Deficiency deposited with the Agent after the Casualty Consultant certifies to the Agent that Restoration has been completed in accordance with the provisions of this Section 6.4(b), and the receipt by the Agent of evidence satisfactory to the Agent that all costs incurred in connection with the Restoration have been paid in full, shall be remitted by the Agent to the Restoring Borrower, provided that no Event of Default shall have occurred and shall be continuing.

The excess, if any, of the Net Proceeds and the remaining balance, if any, of the Net Proceeds Deficiency deposited with after the Casualty Consultant certifies to that the Restoration has been completed in accordance with the provisions of this [Section 6.4(b)], and the receipt by of evidence satisfactory to that all costs incurred in connection with the

If at any time the Net Proceeds or the undisbursed balance thereof shall not, in the opinion of the Agent in consultation with the Casualty Consultant, be sufficient to pay in full the balance of the costs which are estimated by the Casualty Consultant to be incurred in connection with the completion of the Restoration, the Borrowers shall deposit the deficiency (the “Net Proceeds Deficiency”) with the Agent before any further disbursement of the Net Proceeds shall be made. The Net Proceeds Deficiency deposited with the Agent shall be held by the Agent and shall be disbursed for costs actually incurred in connection with the Restoration on the same conditions applicable to the disbursement of the Net Proceeds, and until so disbursed pursuant to this Section 6.4(b) shall constitute additional security for the Debt and the Other Obligations.

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