Common use of Application of Condemnation Proceedings Clause in Contracts

Application of Condemnation Proceedings. Any awards made in any Condemnation proceeding described herein shall be paid as follows: (a) Lessor shall be entitled to the award made for, or equitably attributable to, the value of its fee interest in the Premises and any personal property of the Lessor on the Premises; (b) Lessee shall be entitled to the award made for, or equitably attributable to, (i) the value of its leasehold estate in the Premises, (ii) the value of any Assets and Improvements and damages to any of Lessee’s other personal property on the Premises, and (iii) any other compensation or benefits paid as a consequence of the interruption of Lessee’s business or operations on the Premises; and (c) If all or any part of the Premises shall be condemned for a temporary use, Lessee shall be entitled to the award.