Common use of Adjustment of Losses Clause in Contracts

Adjustment of Losses. Any loss under any property damage insurance required to be maintained by Tenant shall be adjusted by Landlord and Tenant. Any Net Award relating to a Total Condemnation or a Partial Condemnation shall be adjusted by Landlord or, at Landlord’s election, Tenant. Notwithstanding any other provision in this Article XI, if any Event of Default shall have occurred and be continuing, Landlord is hereby authorized and empowered, but shall not be obligated, to pursue any Tenant’s claim, in the name of and on behalf of Tenant, to any Net Award resulting from a Condemnation or Casualty and to hold the proceeds of any recovery therefrom, net of Landlord’s Costs in pursuing the same, until Landlord shall have terminated this Lease or terminated Tenant’s right to possess the Properties pursuant to this Lease. Notwithstanding the foregoing, if any Event of Default shall have occurred and be continuing, and Landlord shall have neither terminated this Lease nor have terminated Tenant’s right to possess the Properties pursuant to this Lease, then Landlord shall make such Net Award available to Tenant after the restoration of the affected Property in accordance with Section 11.03(c)(ii) to reimburse the Tenant for the costs of such restoration. Upon termination of this Lease or Tenant’s right to possess the Properties, any Net Award then remaining in the possession of Landlord shall become Landlord’s property free of any claim by Tenant.

Adjustment of Losses. Any loss Losses, if any, with respect to any Leased Property under any property damage insurance policies required to be maintained by Tenant carried under this Section 2.9 shall be adjusted by Landlord and Tenant. Any Net Award relating to a Total Condemnation or a Partial Condemnation shall be adjusted by Landlord orwith the insurance companies, at Landlord’s electionincluding the filing of appropriate proceedings, Tenant. Notwithstanding any other provision in this Article XI, if any Event of Default shall have occurred and be continuing, Landlord is hereby authorized and empowered, but shall not be obligated, to pursue any Tenant’s claim, in the name of and on behalf of Tenant, to any Net Award resulting from a Condemnation or Casualty and to hold the proceeds of any recovery therefrom, net of Landlord’s Costs in pursuing the same, until Landlord shall have terminated this Lease or terminated Tenant’s right to possess the Properties pursuant to this Lease. Notwithstanding the foregoing, if any as follows: (x) so long as no Construction Agency Event of Default shall have occurred and be continuing, and Landlord provided that the Construction Agent is required, or has agreed, to repair the damage or if the purchase option has been exercised, such losses will be adjusted by the Construction Agent, (y) if any Construction Agency Event of Default shall have neither terminated this Lease nor have terminated Tenant’s right to possess occurred and be continuing or Construction Force Majeure Event declared, or if the Properties pursuant to this LeaseConstruction Agent is not required to, then Landlord and has not agreed to, repair the damage, such losses shall make such Net Award available to Tenant after be adjusted by the restoration Lessor with the consent of the affected Property Construction Agent (which consent shall not be unreasonably withheld or delayed). The party which shall be entitled to adjust losses may appear in accordance with Section 11.03(c)(ii) any proceeding or action to reimburse the Tenant negotiate, prosecute, adjust or appeal any claim for the costs of such restoration. Upon termination of this Lease any award, compensation or Tenant’s right to possess the Properties, any Net Award then remaining in the possession of Landlord shall become Landlord’s property free insurance payment on account of any claim by TenantCasualty at such party's reasonable request, and the other party shall participate in any such proceeding, action, negotiation, prosecution or adjustment. The Construction Agent may incur no expenses with respect to loss adjustment without the prior consent, not to be unreasonably withheld, of the Lessor. Adjustment expenses shall be funded through Advances. The parties hereto agree that this Agreement shall control the rights of the parties hereto in and to any such award, compensation or insurance payment relating to any Casualty affecting a Construction Land Interest.

Adjustment of Losses. Any loss Losses, if any, with respect to any Improvements under any property damage insurance policies required to be maintained by Tenant carried under this Agreement shall be adjusted by Landlord and Tenant. Any Net Award relating to a Total Condemnation or a Partial Condemnation shall be adjusted by Landlord orwith the insurance companies, at Landlord’s electionincluding the filing of appropriate proceedings, Tenant. Notwithstanding any other provision in this Article XI, if any Event of Default shall have occurred and be continuing, Landlord is hereby authorized and empowered, but shall not be obligated, to pursue any Tenant’s claim, in the name of and on behalf of Tenant, to any Net Award resulting from a Condemnation or Casualty and to hold the proceeds of any recovery therefrom, net of Landlord’s Costs in pursuing the same, until Landlord shall have terminated this Lease or terminated Tenant’s right to possess the Properties pursuant to this Lease. Notwithstanding the foregoing, if any as follows: (x) so long as no Construction Agency Agreement Event of Default shall have occurred and be continuing, and Landlord provided that the Construction Agent is required by the Operative Documents, or has agreed, to repair the damage to the relevant Construction Property, such losses shall be adjusted by the Construction Agent with the consent of the Lessor, and (y) if any Construction Agency Agreement Event of Default shall have neither terminated occurred and be continuing, or if the Construction Agent is not required to, and has not agreed, to repair the damage to the relevant Construction Property, such losses shall be adjusted solely by the Lessor. The party which shall be entitled to adjust losses may appear in any proceeding or action to negotiate, prosecute, adjust or appeal any claim for any award, compensation or insurance payment and shall pay all expenses thereof. At such party's reasonable request, and at the Construction Agent's sole cost and expense, the Construction Agent, and the Lessor, as the case may be, shall participate in any such proceeding, action, negotiation, prosecution or adjustment. The parties hereto agree that this Lease nor have terminated Tenant’s right to possess Agreement shall control the Properties pursuant to this Lease, then Landlord shall make such Net Award available to Tenant after the restoration rights of the affected parties hereto in and to any such award, compensation or insurance payment affecting the relevant Construction Property in accordance during the Construction Period with Section 11.03(c)(ii) to reimburse the Tenant for the costs of such restoration. Upon termination of this Lease or Tenant’s right to possess the Properties, any Net Award then remaining in the possession of Landlord shall become Landlord’s property free of any claim by Tenantrespect thereto.

Adjustment of Losses. Any loss Losses, if any, with respect to any Leased Property under any property damage insurance policies required to be maintained by Tenant carried under this Section 2.9 shall be adjusted by Landlord and Tenant. Any Net Award relating to a Total Condemnation or a Partial Condemnation shall be adjusted by Landlord orwith the insurance companies, at Landlord’s electionincluding the filing of appropriate proceedings, Tenant. Notwithstanding any other provision in this Article XI, if any Event of Default shall have occurred and be continuing, Landlord is hereby authorized and empowered, but shall not be obligated, to pursue any Tenant’s claim, in the name of and on behalf of Tenant, to any Net Award resulting from a Condemnation or Casualty and to hold the proceeds of any recovery therefrom, net of Landlord’s Costs in pursuing the same, until Landlord shall have terminated this Lease or terminated Tenant’s right to possess the Properties pursuant to this Lease. Notwithstanding the foregoing, if any as follows: (x) so long as no Construction Agency Event of Default shall have occurred and be continuing, and Landlord provided that the Construction Agent is required, or has agreed, to repair the damage or if the purchase option has been exercised, such losses will be adjusted by the Construction Agent, (y) if any Construction Agency Event of Default shall have neither terminated this Lease nor have terminated Tenant’s right to possess occurred and be continuing or Construction Force Majeure Event declared, or if the Properties pursuant to this LeaseConstruction Agent is not required to, then Landlord and has not agreed to, repair the damage, such losses shall make such Net Award available to Tenant after be adjusted by the restoration Lessor with the consent of the affected Property Construction Agent (which consent shall not be unreasonably withheld or delayed). The party which shall be entitled to adjust losses may appear in accordance with Section 11.03(c)(ii) any proceeding or action to reimburse the Tenant negotiate, prosecute, adjust or appeal any claim for the costs of such restoration. Upon termination of this Lease any award, compensation or Tenant’s right to possess the Properties, any Net Award then remaining in the possession of Landlord shall become Landlord’s property free insurance payment on account of any claim by TenantCasualty at such party’s reasonable request, and the other party shall participate in any such proceeding, action, negotiation, prosecution or adjustment. The Construction Agent may incur no expenses with respect to loss adjustment without the prior consent, not to be unreasonably withheld, of the Lessor. Adjustment expenses shall be funded through Advances. The parties hereto agree that this Agreement shall control the rights of the parties hereto in and to any such award, compensation or insurance payment relating to any Casualty affecting a Construction Land Interest.

Adjustment of Losses. Any loss Losses, if any, with respect to the Property under any property damage insurance policies required to be maintained by Tenant carried under Section 2.7(b) shall be adjusted by Landlord and Tenant. Any Net Award relating to a Total Condemnation or a Partial Condemnation shall be adjusted by Landlord orwith the insurance companies, at Landlord’s electionincluding the filing of appropriate proceedings, Tenant. Notwithstanding any other provision in this Article XI, if any as follows: (x) so long as no Lease Event of Default shall have occurred and be continuing, Landlord is hereby authorized and empowered, but shall not be obligated, to pursue any Tenant’s claim, in the name of and on behalf of Tenant, to any Net Award resulting from a Condemnation or Casualty and to hold the proceeds of any recovery therefrom, net of Landlord’s Costs in pursuing the same, until Landlord shall have terminated this Lease or terminated Tenant’s right to possess the Properties pursuant to this Lease. Notwithstanding the foregoing, if any Construction Agency Agreement Event of Default shall have occurred and be continuing, and Landlord provided that the Lessee is required by the Operative Documents, or has agreed, to repair the damage to the Property, such losses shall be adjusted by the Lessee, and (y) if any Lease Event of Default or Construction Agency Agreement Event of Default shall have neither terminated occurred and be continuing, or if the Lessee is not required to, and has not agreed, to repair the damage to the Property, such losses shall be adjusted by the Lessor. The party which shall be entitled to adjust losses may appear in any proceeding or action to negotiate, prosecute, adjust or appeal any claim for any award, compensation or insurance payment on account of any Casualty and shall pay all expenses thereof. At such party's reasonable request, and at the Construction Agent's sole cost and expense, the Lessee, the Lessor and each Lender, as the case may be, shall participate in any such proceeding, action, negotiation, prosecution or adjustment. The parties hereto agree that this Lease nor have terminated Tenant’s right to possess Construction Agency Agreement shall control the Properties pursuant to this Lease, then Landlord shall make such Net Award available to Tenant after the restoration rights of the affected parties hereto in and to any such award, compensation or insurance payment relating to any Casualty affecting the Property in accordance with Section 11.03(c)(ii) to reimburse during the Tenant for the costs of such restoration. Upon termination of this Lease or Tenant’s right to possess the Properties, any Net Award then remaining in the possession of Landlord shall become Landlord’s property free of any claim by TenantInterim Term.

Adjustment of Losses. Any loss Losses, if any, with respect to any portion of the Improvements constituting a part of the Improvements under any property damage insurance policies required to be maintained by Tenant carried under this Section 2.7 shall be adjusted by Landlord and Tenant. Any Net Award relating to a Total Condemnation or a Partial Condemnation shall be adjusted by Landlord orwith the insurance companies, at Landlord’s electionincluding the filing of appropriate proceedings, Tenant. Notwithstanding any other provision in this Article XI, if any Event of Default shall have occurred and be continuing, Landlord is hereby authorized and empowered, but shall not be obligated, to pursue any Tenant’s claim, in the name of and on behalf of Tenant, to any Net Award resulting from a Condemnation or Casualty and to hold the proceeds of any recovery therefrom, net of Landlord’s Costs in pursuing the same, until Landlord shall have terminated this Lease or terminated Tenant’s right to possess the Properties pursuant to this Lease. Notwithstanding the foregoing, if any as follows: (x) so long as no Agency Agreement Event of Default shall have occurred and be continuing, and Landlord provided that Construction Agent is required to repair the damage or if Construction Agent has exercised its option to purchase the Leased Premises pursuant to Section 5.3, such losses will be adjusted by Construction Agent, and (y) if any Agency Agreement Event of Default shall have neither terminated this Lease nor have terminated Tenant’s right occurred and be continuing or any Construction Force Majeure Event has been declared, or if Construction Agent is not required to possess repair the Properties damage, and Construction Agent has not exercised its option to purchase the Leased Premises pursuant to Section 5.3, such losses shall be adjusted by Landlord. The party which is entitled to adjust losses shall appear in any proceeding or action to negotiate, prosecute, adjust or appeal any claim for any award, compensation or insurance payment on account of any casualty, and the other party may participate, at such other party’s sole cost and expense, in any such proceeding, action, negotiation, prosecution or adjustment. Adjustment expenses shall be paid directly by Construction Agent. The parties hereto agree that this Lease, then Landlord Agreement shall make such Net Award available to Tenant after control the restoration rights of the affected Property parties hereto in accordance with Section 11.03(c)(ii) and to reimburse any such award, compensation or insurance payment relating to any casualty affecting the Tenant for Improvements constituting a part of the costs of such restoration. Upon termination of this Lease or Tenant’s right to possess Improvements during the Properties, any Net Award then remaining in the possession of Landlord shall become Landlord’s property free of any claim by TenantConstruction Term.

Adjustment of Losses. Any loss Losses, if any, with respect to any Leased Property under any property damage insurance policies required to be maintained by Tenant carried under this Section 2.9 shall be adjusted by Landlord and Tenant. Any Net Award relating to a Total Condemnation or a Partial Condemnation shall be adjusted by Landlord orwith the insurance companies, at Landlord’s electionincluding the filing of appropriate proceedings, Tenant. Notwithstanding any other provision in this Article XI, if any Event of Default shall have occurred and be continuing, Landlord is hereby authorized and empowered, but shall not be obligated, to pursue any Tenant’s claim, in the name of and on behalf of Tenant, to any Net Award resulting from a Condemnation or Casualty and to hold the proceeds of any recovery therefrom, net of Landlord’s Costs in pursuing the same, until Landlord shall have terminated this Lease or terminated Tenant’s right to possess the Properties pursuant to this Lease. Notwithstanding the foregoing, if any as follows: (x) so long as no Construction Agency Event of Default shall have occurred and be continuing, and Landlord provided that the Construction Agent is required, or has agreed, to repair the damage or if the purchase option has been exercised, such losses will be adjusted by the Construction Agent, (y) if any Construction Agency Event of Default shall have neither terminated this Lease nor have terminated Tenant’s right to possess occurred and be continuing or a Construction Force Majeure Event declared, or if the Properties pursuant to this LeaseConstruction Agent is not required to, then Landlord and has not agreed to, repair the damage, such losses shall make such Net Award available to Tenant after be adjusted by the restoration Lessor with the consent of the affected Property Construction Agent (which consent shall not be unreasonably withheld or delayed). The party which shall be entitled to adjust losses may appear in accordance with Section 11.03(c)(ii) any proceeding or action to reimburse the Tenant negotiate, prosecute, adjust or appeal any claim for the costs of such restoration. Upon termination of this Lease any award, compensation or Tenant’s right to possess the Properties, any Net Award then remaining in the possession of Landlord shall become Landlord’s property free insurance payment on account of any claim by TenantCasualty at such party’s reasonable request, and the other party shall participate in any such proceeding, action, negotiation, prosecution or adjustment. The Construction Agent may incur no expenses with respect to loss adjustment without the prior consent, not to be unreasonably withheld, of the Lessor. Adjustment expenses shall be funded through Advances. The parties hereto agree that this Agreement shall control the rights of the parties hereto in and to any such award, compensation or insurance payment relating to any Casualty affecting a Construction Land Interest.