Common use of Award Distribution Clause in Contracts

Award Distribution. In the event Lessee purchases the Leased Property pursuant to Section 14.3 or Lessor accepts any offer by Lessee to purchase the Leased Property or to provide a Substitute Property therefor pursuant to this Article XIV, then the entire Award shall belong to Lessee and Lessor agrees to assign to Lessee all of its rights thereto. Except as otherwise expressly provided in this Article XIV, in any other event the entire Award shall belong to and be paid to Lessor; provided that if this Lease is terminated in accordance with Section 14.2 and subject to the rights of any Facility Mortgagees, Lessee shall be entitled to receive from the Award any sum attributable to any Capital Additions for which Lessee would be entitled to reimbursement at the end of the Term pursuant to the provisions of Section 9.2(b), but only if any to the extent such Award expressly includes such items and allocates a value thereto. If Lessee is required or elects to restore the Facility, Lessor agrees that, subject to the rights of the Facility Mortgagees, its portion of the Award shall be used for such restoration and it shall hold such portion of the Award in trust, for application to the costs of the restoration.

Appears in 2 contracts

Samples: Lease Agreement (Balanced Care Corp), Lease Agreement (Balanced Care Corp)

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Award Distribution. In the event Lessee purchases the Leased Property pursuant to Section 14.3 or Lessor accepts any offer by Lessee to purchase the Leased Property or to provide a Substitute Property therefor pursuant to this Article XIV, then the entire Award shall belong to Lessee and Lessor agrees to assign to Lessee all of its rights thereto. Except as otherwise expressly provided in this Article XIV, in any other event the entire Award shall belong to and be paid to Lessor; provided that if this Lease is terminated in accordance with Section 14.2 14.2(b) or 14.3(a), and subject to the rights of any Facility Mortgagees, Lessee shall be entitled to receive from the Award any sum attributable to any Capital Additions for which Lessee would be entitled to reimbursement at the end of the Term pursuant to the provisions of Section 9.2(b), but only if any and to the extent such Award expressly includes such items and allocates a value thereto. If Lessee is required or elects to restore the Facility, Lessor agrees that, subject to the rights of the Facility Mortgagees, its portion of the Award shall be used for such restoration and it shall hold such portion of the Award in trust, for application to the costs of the restoration.

Appears in 2 contracts

Samples: Lease Agreement (Integrated Living Communities Inc), Agreement (Integrated Living Communities Inc)

Award Distribution. In the event Lessee purchases the Leased ------------------ Property pursuant to Section 14.3 or Lessor accepts any offer by Lessee to purchase the Leased Property or to provide a Substitute Property therefor pursuant to this Article XIV14, then the entire Award shall belong to Lessee and Lessor agrees to assign to Lessee all of its rights thereto. Except as otherwise expressly provided in this Article XIV14, in any other event the entire Award shall belong to and be paid to Lessor; provided that if this Lease is terminated in accordance with Section 14.2 14.2(b) or 14.3(a), and subject to the rights of any Facility Mortgagees, Lessee shall be entitled to receive from the Award any sum attributable to Lessee's Personal Property, loss of Lessee's business, moving expenses and any sum attributable to any Capital Additions for which Lessee would be entitled to reimbursement at the end of the Term pursuant to the provisions of Section 9.2(b), but only if any to the extent such Award expressly includes such items and allocates a value thereto. If Lessee is required or elects to restore the Facility, Lessor agrees that, subject to the rights of the Facility Mortgagees, its portion of the Award shall be used for such restoration and it shall hold such portion of the Award in trust, for application to the costs of the restoration.

Appears in 2 contracts

Samples: Lease Agreement (Emeritus Corp\wa\), Lease Agreement (Emeritus Corp\wa\)

Award Distribution. In the event Lessee purchases the Leased Property a Facility pursuant ------------------- to Section 14.3 or Lessor accepts any offer by Lessee to purchase the Leased Property a Facility or to provide a Substitute Property therefor pursuant to this Article XIV14, then the entire Award shall belong to Lessee and Lessor agrees to assign to Lessee all of its rights thereto. Except as otherwise expressly provided in this Article XIV14, in any other event the entire Award shall belong to and be paid to Lessor; provided that if this Lease is terminated in accordance with Section 14.2 14.2(b) or 14.3(a), and subject to the rights of any Facility Mortgagees, Lessee shall be entitled to receive from the Award any sum attributable to Lessee's Personal Property, loss of Lessee's business, moving expenses and any sum attributable to any Capital Additions for which Lessee would be entitled to reimbursement at the end of the Term pursuant to the provisions of Section 9.2(b), but only if any to the extent such Award expressly includes such items and allocates a value thereto. If Lessee is required or elects to restore the a Facility, Lessor agrees that, subject to the rights of the Facility Mortgagees, its portion of the Award shall be used for such restoration and it shall hold such portion of the Award in trust, for application to the costs of the restoration.. 50.1

Appears in 1 contract

Samples: Lease Agreement (Emeritus Corp\wa\)

Award Distribution. In the event Lessee purchases the Leased Property ------------------ pursuant to Section 14.3 or Lessor accepts any offer by Lessee to purchase the Leased Property or to provide a Substitute Property therefor pursuant to this Article XIV14, then the entire Award shall belong to Lessee and Lessor agrees to assign to Lessee all of its rights thereto. Except as otherwise expressly provided in this Article XIV14, in any other event the entire Award shall belong to and be paid to Lessor; provided that if this Lease is terminated in accordance with Section 14.2 14.2(b) or 14.3(a), and subject to the rights of any Facility Mortgagees, Lessee shall be entitled to receive from the Award any sum attributable to Lessee's Personal Property, loss of Lessee's business, moving expenses and any sum attributable to any Capital Additions for which Lessee would be entitled to reimbursement at the end of the Term pursuant to the provisions of Section 9.2(b), but only if any to the extent such Award expressly includes such items and allocates a value thereto. If Lessee is required or elects to restore the Facility, Lessor agrees that, subject to the rights of the Facility Mortgagees, its portion of the Award shall be used for such restoration and it shall hold such portion of the Award in trust, for application to the costs of the restoration.

Appears in 1 contract

Samples: Lease Agreement (Emeritus Corp\wa\)

Award Distribution. In the event Lessee purchases exercises the purchase option with respect to the portion of the Leased Property pursuant relating to a Facility as described in clause (b) of Section 14.3 or Lessor accepts any offer by Lessee to purchase the Leased Property or to provide a Substitute Property therefor pursuant to this Article XIV15.4, then the entire Award shall belong to Lessee so long as no Event of Default then exists, and Lessor agrees to assign to Lessee all of its rights theretoto the Award. Except as otherwise expressly provided in this Article XIV, in In any other event event, the entire Award shall belong to and be paid to Lessor; provided provided, however, that if this Lease is terminated in accordance pursuant to this Article XV with Section 14.2 respect to such portion of the Leased Property, and subject to the rights of any Facility MortgageesLender, Lessee shall be entitled to receive from the Award any a sum attributable to Lessee’s Personal Property relating thereto and any Capital Additions for which Lessee would be entitled to reimbursement at reasonable removal and relocation costs, provided in each case the end of the Term pursuant to the provisions of Section 9.2(b), but only if any to the extent such Award expressly specifically includes such items and allocates a value theretoitems. If Lessee is required or elects to restore such portion of the FacilityLeased Property, Lessor agrees that, subject to the rights of the Facility Mortgagees, its portion of that the Award shall be used for such that restoration (subject to the rights of any Facility Lender), and it shall hold such portion of the Award in trust, trust for application to the costs cost of the restoration. Notwithstanding any provision of this Lease to the contrary, any Award retained by Lessor and not used for restoration shall be taken into account as an amount received by Lessor for purposes of calculating the applicable Option Price.

Appears in 1 contract

Samples: Master Lease Agreement (MPT Operating Partnership, L.P.)

Award Distribution. In the event Lessor accepts Lessee's offer to substitute a new property for the Leased Property or Lessee purchases the Leased Property pursuant to Section 14.3 or Lessor accepts any offer by Lessee to purchase the Leased Property or to provide a Substitute Property therefor pursuant to this Article XIVabove, then the entire Award shall belong to Lessee and Lessor agrees to assign to Lessee all of its rights thereto. Except as otherwise expressly provided in this Article XIVSection 14.3 above, in any other event event, the entire Award shall belong to and be paid to Lessor; provided that , except that, if this Lease is terminated in accordance with Section 14.2 terminated, and subject to the rights of any the Facility MortgageesMortgagee, Lessee shall be entitled to receive from the Award, if and to the extent there is included in such Award any sum attributable to any the Capital Additions for which Lessee would be entitled to reimbursement at the end of the Term pursuant to the provisions of Section 9.2(b), but only if any to the extent such Award expressly includes such items and allocates a value thereto. If Lessee is required or elects to restore the Facility, Lessor agrees that, subject to the rights of the Facility MortgageesMortgagees (as limited by clause (c) of the second proviso of Article XXXIII), its portion of the Award shall be used ------- for such restoration and it shall hold such portion of the Award in trust, trust for application to the costs cost of the restoration.

Appears in 1 contract

Samples: Lease Agreement (Ramsay Health Care Inc)

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Award Distribution. In the event Lessee purchases the Leased Property pursuant to Section 14.3 or Lessor accepts any offer by Lessee to purchase the Leased Property or to provide a Substitute Property therefor pursuant to this Article XIV14, then the entire Award shall belong to Lessee and Lessor agrees to assign to Lessee all of its rights thereto. Except as otherwise expressly provided in this Article XIV14, in any other event the entire Award shall belong to and be paid to Lessor; provided that if this Lease is terminated in accordance with Section 14.2 14.2(b) or 14.3(a), and subject to the rights of any Facility Mortgagees, Lessee shall be entitled to receive from the Award any sum attributable to any Capital Additions for which Lessee would be entitled to reimbursement at the end of the Term pursuant to the provisions of Section 9.2(b), but only if any to the extent such Award expressly includes such items and allocates a value thereto. If Lessee is required or elects to restore the Facility, Lessor agrees that, subject to the rights of the Facility Mortgagees, its portion of the Award shall be used for such restoration and it shall hold such portion of the Award in trust, for application to the costs of the restoration.. 14.6

Appears in 1 contract

Samples: Lease Agreement (Emeritus Corp\wa\)

Award Distribution. In the event Lessee purchases the Leased Property pursuant to Section 14.3 or Lessor accepts any offer by Lessee to purchase the Leased Property or to provide a Substitute Property therefor pursuant to this Article XIV14, then the entire Award shall belong to Lessee and Lessor agrees to assign to Lessee all of its rights thereto. Except as otherwise expressly provided in this Article XIV14, in any other event the entire Award shall belong to and be paid to Lessor; provided that if this Lease is terminated in accordance with Section 14.2 14.2(b) or 14.3(a), and subject to the rights of any Facility Mortgagees, Lessee shall be entitled to receive from the Award any sum attributable to any Capital Additions for which Lessee would be entitled to reimbursement at the end of the Term pursuant to the provisions of Section 9.2(b), but only if any to the extent such Award expressly includes such items and allocates a value thereto. If Lessee is required or elects to restore the Facility, Lessor agrees that, subject to the rights of the Facility Mortgagees, its portion of the Award shall be used for such restoration and it shall hold such portion of the Award in trust, for application to the costs of the restoration.

Appears in 1 contract

Samples: Lease Agreement (Emeritus Corp\wa\)

Award Distribution. In the event Lessor accepts Lessee's offer substitute a new property for the Leased Property or Lessee purchases the Leased Property pursuant to Section 14.3 or Lessor accepts any offer by Lessee to purchase the Leased Property or to provide a Substitute Property therefor pursuant to this Article XIVabove, then the entire Award shall belong to Lessee and Lessor agrees to assign to Lessee all of its rights thereto. Except as otherwise expressly provided in this Article XIVSection 14.3 above, in any other event event, the entire Award shall belong to and be paid to Lessor; provided that , except that, if this Lease is terminated in accordance with Section 14.2 terminated, and subject to the rights of any the Facility MortgageesMortgagee, Lessee shall be entitled to receive from the Award, if and to the extent there is included in such Award any sum attributable to any the Capital Additions for which Lessee would be entitled to reimbursement at the end of the Term pursuant to the provisions of Section 9.2(b), but only if any to the extent such Award expressly includes such items and allocates a value thereto. If Lessee is required or elects to restore the Facility, Lessor agrees that, subject to the rights of the Facility MortgageesMortgagees (as limited by clause (c) of the second proviso of Article XXXIII), its portion of the Award shall be used ------- for such restoration and it shall hold such portion of the Award in trust, trust for application to the costs cost of the restoration.

Appears in 1 contract

Samples: Lease Agreement (Ramsay Health Care Inc)

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