Common use of Allocation of Award Clause in Contracts

Allocation of Award. Except as provided in Sections 6.06 and 6.07 and the second and third sentences of this Section 6.08, the total Award shall be solely the property of and payable to Landlord. Any portion of the Award made for the taking of Tenant’s leasehold interest in a Hotel, loss of business, the taking of Tenant’s Personal Property, or Tenant’s removal and relocation expenses shall be the sole property of, and payable to, Tenant. Any portion of the Award made for the taking of Manager’s interest in a Hotel or Manager’s loss of business during the remainder of the Term hereof shall be the sole property of, and payable to, Manager, subject to the provisions of Section 6.04 hereof. In any Condemnation proceedings, Landlord, Tenant, and Manager shall each seek its own Award in conformity herewith, at its own expense.

Appears in 5 contracts

Samples: Management Agreement (Service Properties Trust), Management Agreement (Service Properties Trust), Management Agreement (Service Properties Trust)

AutoNDA by SimpleDocs

Allocation of Award. Except as provided in Sections 6.06 Section 6.06, Section 6.08 and 6.07 and the second and third sentences of this Section 6.086.09, the total Award shall be solely the property of and payable to the applicable Landlord. Any portion of the Award made for the taking of Tenantan Owner’s leasehold interest in a Hotel, loss of business, the taking of Tenantsuch Owner’s Personal Property, or Tenantsuch Owner’s removal and relocation expenses shall be the sole property of, and payable to, Tenantsuch Owner. Any portion of the Award made for the taking of Manager’s interest in a Hotel or Manager’s loss of business during the remainder of the Term hereof shall be the sole property of, and payable to, Manager, subject to the provisions of Section 6.04 hereof6.06. In any Condemnation proceedings, the applicable Landlord, Tenantthe applicable Owner, and Manager shall each seek its own Award in conformity herewith, at its own expense.

Appears in 1 contract

Samples: Management Agreement (Service Properties Trust)

Allocation of Award. Except as provided in Sections 6.06 and 6.07 and the second and third sentences of this Section 6.08, the total Award shall be solely the property of and payable to Landlord. Any portion of the Award made for the taking of Tenant’s leasehold interest in a the Hotel, loss of business, the taking of Tenant’s Personal Property, or Tenant’s removal and relocation expenses shall be the sole property of, and payable to, Tenant. Any portion of the Award made for the taking of Manager’s interest in a the Hotel or Manager’s loss of business during the remainder of the Term hereof shall be the sole property of, and payable to, Manager, subject to the provisions of Section 6.04 hereof. In any Condemnation proceedings, Landlord, Tenant, and Manager shall each seek its own Award in conformity herewith, at its own expense.

Appears in 1 contract

Samples: Management Agreement (Service Properties Trust)

Allocation of Award. Except as provided in Sections 6.06 Section 6.07 and 6.07 Section 6.08 and the second and third sentences of this Section 6.086.09, the total Award shall be solely the property of and payable to Landlord. Any portion of the Award made for the taking of Tenant’s 's leasehold interest in a Hotel, loss of business, the taking of Tenant’s 's Personal Property, or Tenant’s 's removal and relocation expenses shall be the sole property of, and payable to, Tenant. Any portion of the Award made for the taking of Manager’s 's interest in a Hotel or Manager’s 's loss of business during the remainder of the Term hereof shall be the sole property of, and payable to, Manager, subject to the provisions of Section 6.04 hereof. In any Condemnation proceedings, Landlord, Tenant, and Manager shall each seek its own Award in conformity herewith, at its own expense.6.05

Appears in 1 contract

Samples: Management Agreement (Hospitality Properties Trust)

AutoNDA by SimpleDocs

Allocation of Award. Except as provided in Sections 6.06 Section 6.07 and 6.07 Section 6.08 and the second and third sentences of this Section 6.086.09, the total Award shall be solely the property of and payable to Landlord. Any portion of the Award made for the taking of Tenant’s leasehold interest in a Hotel, loss of business, the taking of Tenant’s Personal Property, or Tenant’s removal and relocation expenses shall be the sole property of, and payable to, Tenant. Any portion of the Award made for the taking of Manager’s interest in a Hotel or Manager’s loss of business during the remainder of the Term hereof shall be the sole property of, and payable to, Manager, subject to the provisions of Section 6.04 6.05 hereof. In any Condemnation proceedings, Landlord, Tenant, and Manager shall each seek its own Award in conformity herewith, at its own expense.

Appears in 1 contract

Samples: Management Agreement (Hospitality Properties Trust)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!