Allocation of Award. The total Award made with respect to the Leased Property or for loss of rent, or for Lessor's loss of business beyond the Term, shall be solely the property of and payable to Lessor. Any Award made for loss of Lessee's business during the remaining Term, if any, for the taking of Lessee's Personal Property, or for removal and relocation expenses of Lessee in any such proceedings shall be the sole property of and payable to Lessee. In any Condemnation proceedings Lessor and Lessee shall each seek its Award in conformity herewith, at its respective expense; provided, however, neither party shall initiate, prosecute or acquiesce in any proceedings that may result in a diminution of any Award payable to the other party.
Appears in 4 contracts
Samples: Consolidated Lease Amendment (Equity Inns Inc), Lease Agreement (Equity Inns Inc), Consolidated Lease Agreement (Equity Inns Inc)
Allocation of Award. The total Award made with respect to the Leased Property or for loss of rent, or for Lessor's loss of business beyond the Term, shall be solely the property of and payable to Lessor. Any Award made for loss of Lessee's business during the remaining Term, if any, for the taking of Lessee's Personal Property, or for removal and relocation expenses of Lessee in any such proceedings shall be the sole property of and payable to Lessee. In any Condemnation proceedings proceedings, Lessor and Lessee shall each seek its Award in conformity herewith, at its respective expense; provided, however, neither party shall initiate, prosecute or acquiesce in any proceedings that may result in a diminution of any Award payable to the other party.
Appears in 3 contracts
Samples: Lease Agreement (Strategic Hotel Capital Inc), Lease Agreement (Strategic Hotel Capital Inc), Lease Agreement (Strategic Hotel Capital Inc)
Allocation of Award. The total Award made with respect to the Leased Property or for loss of rent, or for Lessor's loss of business beyond the Term, shall be solely the property of and payable to Lessor. Any Award made for loss of Lessee's business during the remaining Term, if any, for the taking of Lessee's Personal Property, or for removal and relocation expenses of Lessee in any such proceedings shall be the sole property of and payable to Lessee. In any Condemnation proceedings Lessor and Lessee shall each seek its Award in conformity herewith, at its respective expense; provided, however, neither party shall initiate, prosecute or acquiesce in any proceedings that may result in a diminution of any Award payable to the other party.
Appears in 3 contracts
Samples: Lease Agreement (Host Funding Inc), Lease Agreement (Host Funding Inc), Lease Agreement (Host Funding Inc)
Allocation of Award. The total Award made with respect to the Leased Property or for loss of rent, or for Lessor's loss of business beyond the Term, shall be solely the property of and payable to Lessor. Any Award made for loss of Lessee's business during the remaining Term, if any, for the taking of Lessee's Personal PropertyInventory in excess of Franchisor requirements, or for removal and relocation expenses of Lessee in any such proceedings shall be the sole property of and payable to Lessee. In any Condemnation proceedings Lessor and Lessee shall each seek its Award in conformity herewith, at its respective expense; provided, however, neither party shall initiate, prosecute or acquiesce in any proceedings that may result in a diminution of any Award payable to the other party.
Appears in 1 contract
Samples: Lease Agreement (Equity Inns Inc)