Common use of Allocation of Portion of Award Clause in Contracts

Allocation of Portion of Award. Subject to the rights of any Facility Mortgagee, the total Condemnation Award made with respect to all or any portion of the Property shall be distributed to Landlord and Tenant ratably in accordance with the value of their respective interests in and to such Property as hereafter set forth in this Section 16.4. All of the Award shall be the sole and exclusive property of Landlord and shall be payable to Landlord, subject to the rights of any Facility Mortgagee; provided that any portion of such Condemnation Award which is expressly allocated by the Condemnor to the taking of Tenant's leasehold interest in the Property, Tenant's Share of Appreciation Amount (if any), the taking of any Capital Additions (or any portion thereof) paid for by Tenant, any loss of business by Tenant during the remaining Term of this Lease, the taking of Tenant's Personal Property, or any removal and relocation expenses of Tenant in any such proceedings shall be the sole property of and payable to Tenant. In any Condemnation proceedings Landlord and Tenant each shall seek their own Award in conformity herewith, at their own expense.

Appears in 1 contract

Samples: California Facilities Security Agreement (Iasis Healthcare Corp)

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Allocation of Portion of Award. Subject to the rights of any Facility Mortgagee, the total Condemnation Award made with respect to all or any portion of the Property shall be distributed to Landlord and Tenant ratably in accordance with the value of their respective interests in and to such Property as hereafter set forth in this Section 16.4. All of the Award shall be the sole and exclusive property of Landlord and shall be payable to Landlord, subject to the rights of any Facility Mortgagee; provided that any portion of such Condemnation Award which is expressly allocated by the Condemnor to the taking of Tenant's leasehold interest in the Property, Tenant's Share of Appreciation Amount (if any), the taking of any Capital Additions (or any portion thereof) paid for by Tenant, any loss of business by Tenant during the remaining Term of this Lease, the taking of Tenant's Personal Property, or any removal and relocation expenses of Tenant in any such proceedings shall be the sole property of and payable to Tenant; provided, however, that in any event Landlord shall receive from such Condemnation Award, subject to the rights of the Facility Mortgagees, no less than the greater of the Fair Market Value of the portion of the Property subject to such Taking prior to the institution of the Condemnation and Landlord's Total Investment with respect to such property. In any Condemnation proceedings Landlord and Tenant each shall seek their own Award in conformity herewith, at their own expense.

Appears in 1 contract

Samples: Iasis Healthcare Corp

Allocation of Portion of Award. Subject to the rights of any Facility Mortgagee, the total Condemnation Award made with respect to all or any portion of the Property shall be distributed to Landlord and Tenant ratably in accordance with the value of their respective interests in and to such Property as hereafter set forth in this Section 16.4. All of the Award shall be the sole and exclusive property Property of Landlord and shall be payable to Landlord, subject to the rights of any Facility Mortgagee; provided that any portion of such Condemnation Award which is expressly allocated by the Condemnor to the taking of Tenant's leasehold interest in the Property, Tenant's Share of Appreciation Amount (if any), the taking of any Capital Additions (or any portion thereof) thereof paid for by Tenant, any loss of business by Tenant during the remaining Term of this Lease, the taking of Tenant's Personal Property, or any removal and relocation expenses of Tenant in any such proceedings shall be the sole property Property of and payable to Tenant. In any Condemnation proceedings Landlord and Tenant each shall seek their own Award in conformity herewith, at their own expense.

Appears in 1 contract

Samples: __________ Lease (Emeritus Corp\wa\)

Allocation of Portion of Award. Subject to the rights of any Facility Mortgagee, the total Condemnation Award made with respect to all or any portion of the Property shall be distributed to Landlord and Tenant ratably in accordance with the value of their respective interests in and to such Property as hereafter set forth in this Section 16.4. All of the Award shall be the sole and exclusive property of Landlord and shall be payable to Landlord, subject to the rights of any Facility Mortgagee; provided that any portion of such Condemnation Award which is expressly allocated by the Condemnor to the taking of Tenant's leasehold interest in the Property, Tenant's Share of Appreciation Amount (if any), the taking of any Capital Additions (or any portion thereof) paid for by Tenant, any loss of business by Tenant during the remaining Term of this Lease, the taking of Tenant's Personal Property, or any removal and relocation expenses of Tenant in any such proceedings shall be the sole property of and payable to Tenant. In any Condemnation proceedings Landlord and Tenant each shall seek their own Award in conformity herewith, at their own expense.

Appears in 1 contract

Samples: Safford Care Lease (Unison Healthcare Corp)

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Allocation of Portion of Award. Subject to the rights of any Facility Mortgagee, the total Condemnation Award made with respect to all or any portion of the Property shall be distributed to Landlord and Tenant ratably in accordance with the value of their respective interests in and to such Property Award as hereafter set forth in this Section 16.4. All of the Award shall be the sole and exclusive property of Landlord and shall be payable to Landlord, subject to the rights of any Facility Mortgagee; provided that that, subject to the rights of any Facility Mortgagee, any portion of such Condemnation Award which is expressly allocated by the Condemnor to the taking of Tenant's leasehold interest in the Property, Tenant's Share of Appreciation Amount (if any), the taking of any Capital Additions (or any portion thereof) fully paid for by TenantTenant in their entirety, any loss of business by Tenant during the remaining Term of this Lease, the taking of Tenant's Personal Property, or any removal and relocation expenses of Tenant in any such proceedings shall be the sole property of and payable to Tenant; provided, further, that if the Lease is terminated pursuant to Section 16.3, Tenant shall have no right to any portion of such Condemnation Award regardless of how such Award is allocated by the court or other tribunal. In any Condemnation proceedings Landlord and Tenant each shall seek their own Award in conformity herewith, at their own expense.

Appears in 1 contract

Samples: Lease and Security Agreement (Balanced Care Corp)

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