Application of Awards. Awards and other payments on account of a taking (less costs, fees and expenses incurred by District, and Lessee in connection with the collection thereof) shall be applied as follows:
1. Net awards and payments received on account of taking, other than (a) a taking for temporary use, (b) a taking of only the leasehold estate hereunder, or (c) a total taking, shall be held and applied to pay the cost of restoration of the Premises. The balance, if any, remaining after restoration shall be divided between District and Lessee as they may agree and, in the absence of such Agreement, such balance shall be paid to District and Lessee in the ratio, as nearly as practicable, which (a) the sum of (1) the then fair market value of District's reversionary interest in the improvements and (2) the fair market value of the land, valued as unencumbered by this Agreement, unimproved and to be used for the uses specified in this Agreement bears to (b) the then fair market value of Lessee’s interest in the improvements for the remainder of the term of this Agreement, provided, however, that Lessee’s share of any such balance shall be applied first to any payment of any past due Base Rent, Percentage Rent or any other payment payable hereunder, including, without limitation, any past due tax payments.
2. Net awards and payment received on account of (a) a taking for temporary use or (b) a taking of only the leasehold estate created by this Agreement shall be paid to Lessee, except that:
a. If any portion of any such award or payment is made by reason of any damage to or destruction of the Premises, and there exists in this agreement on obligations to restore said Premises, such portion shall be held and applied to pay the cost of restoration thereof; and
b. If any portion of any award or payment on account of a taking for temporary use relates to a period beyond the date of termination of this Agreement term, such portion shall be paid to District; and
c. If, at any time such award becomes payable to Lessee, any Base Rent, Percentage Rent or other payments payable hereunder (including, without limitation, any tax payments) shall be due and unpaid, such award shall be first applied to the payment thereof.
3. With the exception of payments to Lessee for loss of business goodwill, any award and payment received on account of a total taking shall be paid to the District, including any and all payments for leasehold bonus value, fixtures and equipment (other than trade fixtures)...
Application of Awards. Subject to the provisions of SECTION 9.1 above, all proceeds received by Mortgagee with respect to a taking of all or any part of the Mortgaged Property or with respect to damage to all or any part of the Mortgaged Property from governmental action not resulting in a taking of the Mortgaged Property, shall be applied as follows, in the order of priority indicated:
(a) FIRST, to the payment of any fees, if any, owing under the Loan Agreement, the Note or the Security Documents, including without limitation, the Exit Fee;
(b) SECOND, to the payment of prepayment premiums, if any, owing under the Note or the Security Documents (provided that no premium shall be due solely on account of any prepayment pursuant to this ARTICLE 9);
(c) THIRD, to the payment of late charges, if any, owing under the Note or the Security Documents;
(d) FOURTH, to the payment of the costs and expenses including reasonable attorneys' fees incurred in connection with collecting the sale proceeds;
(e) FIFTH, to the extent allowed by law, to the payment of attorneys fees and other legal expenses, including expenses and fees incurred on appeals, and legal expenses and fees of a receiver;
(f) SIXTH, to the payment of accrued and unpaid interest on the Indebtedness; and
(g) SEVENTH, to the payment of the balance of the Indebtedness. The balance, if any, shall be paid to the parties entitled to receive it under applicable law without penalty or premium.
Application of Awards. Lender shall have the right to apply any Awards first, to reimburse Lender for all reasonable costs and expenses, including, without limitation, reasonable attorneys’ fees and disbursements incurred in connection with the proceeding in question or the collection of such amounts, and, second, the remainder thereof as provided in Section 2.4(b) for insurance proceeds held by Lender. Notwithstanding the foregoing, and
Application of Awards. The parties agree that in the --------------------- event of a Taking, all rights between them in and to an Award shall be as set forth herein. Each party agrees that each shall make separate claims for an Award from the condemning Person.
Application of Awards. Any monetary damages awarded to, and received by Fairfield or its Subsidiaries, or insurance proceeds received by Fairfield or its Subsidiaries, in respect of an Indemnified Matter, shall be applied after termination of such Indemnified Matter on a pro rata basis, first to reimburse the parties for any Litigation Expenses and then to reduce the Indemnifiable Losses arising from such Indemnified Matter and to reimburse the parties for payments made in respect of the Indemnified Matter. All amounts exceeding the Indemnifiable Losses arising from such Indemnified Matter shall be retained by Fairfield or its Subsidiaries.
Application of Awards. Awards and other payments on account of a taking (less costs, fees and expenses incurred by Landlord, and Tenant in connection with the collection thereof) shall be applied as follows:
Application of Awards. (a) In the event of a Total Taking, the award or awards for such Taking, less the cost of the determination of the amount thereof (the "Condemnation Proceeds"), shall be paid as follows:
(i) if the Taking occurs at any time on or prior to June 30, 1998, Lessor shall first be entitled to receive such portion of the Condemnation Proceeds with interest thereon as shall equal the greater of:
Application of Awards. Agency and ISBA agree (and County agrees pursuant to the Surplus Ground Lease) to cooperate to insure that each of Agency, ISBA and County receives the full fair market value of their interest on account of a taking. Awards and other payments on account of a taking of the Fleet Parking Units or the improvements thereon (less costs, fees and expenses incurred by County, Agency, ISBA in connection with the collection thereof) shall be allocated and paid, subject to the Condominium Documents and Surplus Ground Lease, to Agency and ISBA (and to any Sub-sublessees to the extent allowed pursuant to the applicable Sub-sublease) in equal priority, in the ratio as nearly as practicable which values their respective leasehold interests, including, but not limited to, good will, future cash flow and future development opportunities.
Application of Awards. (a) The Agreement applies to the exclusion of all:
(i) Industrial Instruments;
(ii) Transitional Industrial Instruments;
(iii) Protected Award Conditions; and/or
(iv) Preserved Award Entitlements unless provided for in this Agreement.
(b) To remove any doubt, this Agreement expressly excludes and completely displaces the Overseas Airlines (Interim) Award 1999.
Application of Awards. This Agreement shall wholly replace any awards (whether federal or state) that previously applied or may have applied or may apply in future to employees bound by this agreement.
