Common use of Awards and Damages Clause in Contracts

Awards and Damages. Except as expressly provided below, Landlord ------------------ reserves all rights to damages and awards paid because of any Partial or Total Taking of the Premises or the Project. So long as it does not reduce the amount of the award payable to Landlord, Tenant (i) shall be entitled to receive any amount attributable to any excess of the market value of the Premises for the remainder of the Term over the present value as of the Expiration Date of the rent payable for the remainder of the Term and (ii) shall have the right to make a separate claim in any condemnation proceeding for the taking of the unamortized or undepreciated value of the improvements and alterations owned by Tenant which Tenant may remove at the expiration or earlier termination of this Lease, reasonable removal and relocation costs for any improvements Tenant has the right to remove and elects to remove, relocation costs, the claim for which Tenant may pursue by separate action independent of this Lease and any other amount. Tenant shall have the right to negotiate directly with the condemnor for the recovery of the portion of the award that Tenant is entitled to under subsection (ii) above. Further, Tenant shall not make claims against Landlord or the condemning authority for damages. If a temporary taking of part of the Premises or a portion of the Project which prevents Tenant's use or occupancy of all or a material portion of the Premises occurs through (a) the exercise of any government power (by legal proceedings or otherwise) by condemnor or (b) a voluntary sale or transfer by Landlord to any condemnor, either under threat of exercise of eminent domain by a condemnor or while legal proceedings for condemnation are pending, Rent shall xxxxx during the time of such taking in proportion to the portion of the Premises taken. The entire award relating to the temporary taking shall be and remain the property of Landlord. Tenant irrevocably assigns and transfers to Landlord all rights to and interest in such award and fully releases and relinquishes any claim to, right to make a claim on, and any other interest in the award.

Awards and Damages. Except as expressly provided belowAll judgments, Landlord ------------------ reserves awards of damages, settlements and compensation made in connection with or in lieu of (a) taking of all rights to damages and awards paid because or any part of or any Partial interest in the Property by or Total Taking under assertion of the Premises power of eminent domain, (b) any damage to or the Project. So long as it does not reduce the amount destruction of the award payable Property or any part thereof by insured casualty, and (c) any other injury or damage to Landlordall or any part of the Property, Tenant are hereby assigned to and shall be paid to the Lender. The Lender is authorized and empowered (ibut not required) to collect and receive any such sums and is authorized to apply them in whole or in part upon any indebtedness or obligation secured hereby, in such order and manner as the Lender shall determine at its option. The Lender shall be entitled to receive settle and adjust all claims under insurance policies provided under this Deed of Trust and may deduct and retain from the proceeds of such insurance the amount of all expenses incurred by it in connection with any amount attributable to such settlement or adjustment. All or any excess of the market value of the Premises for the remainder of the Term over the present value as of the Expiration Date of the rent payable for the remainder of the Term and (ii) shall have the right to make a separate claim in any condemnation proceeding for the taking of the unamortized or undepreciated value of the improvements and alterations owned by Tenant which Tenant may remove at the expiration or earlier termination of this Lease, reasonable removal and relocation costs for any improvements Tenant has the right to remove and elects to remove, relocation costs, the claim for which Tenant may pursue by separate action independent of this Lease and any other amount. Tenant shall have the right to negotiate directly with the condemnor for the recovery of the portion of the award that Tenant is entitled to under subsection (ii) above. Further, Tenant shall not make claims against Landlord or the condemning authority for damages. If a temporary taking of part of the Premises or a portion of amounts so collected and recovered by the Project which prevents Tenant's use or occupancy Lender may be released to Borrower upon such conditions as the Lender may impose for its disposition. Application of all or a material portion any part of the Premises occurs through amounts collected and received by the Lender or the release thereof shall not cure or waive any default under this Deed of Trust. If the Property is abandoned by Xxxxxxxx, or if, after notice by Xxxxxx to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to Lender within thirty (a30) days after the exercise of any government power (by legal proceedings or otherwise) by condemnor or (b) a voluntary sale or transfer by Landlord date such notice is mailed, Lender is authorized to any condemnorcollect and apply the proceeds, at Lender’s option, either under threat to restoration or repair of exercise of eminent domain by a condemnor the Property or while legal proceedings for condemnation are pending, Rent shall xxxxx during the time of such taking in proportion to the portion sum secured by this Deed of the Premises taken. The entire award relating to the temporary taking shall be and remain the property of Landlord. Tenant irrevocably assigns and transfers to Landlord all rights to and interest in such award and fully releases and relinquishes any claim to, right to make a claim on, and any other interest in the awardTrust.

Awards and Damages. Except as expressly provided belowIn the event of any Taking, Landlord ------------------ reserves all rights and Tenant shall each have the right to damages prove and claim such sums and awards paid because as they may show themselves to be entitled with respect to the Premises. In furtherance of the foregoing, Landlord and Tenant shall cooperate with each other in good faith and in the pursuit of any Partial or Total Taking claims that they may have against the condemning authority with respect to the Premises in order to maximize the monetary recovery paid by the condemning authority. If this Lease is terminated as a result of such taking, the proceeds of any award shall be paid to Landlord and Tenant in the following order: (1) the payment of all reasonable fees and expenses incurred in collecting the award (if jointly pursued by Landlord and Tenant); (2) Landlord to receive the fair market value of (a) the land portion of the Premises or Project that is taken, (b) the leasehold estate created hereunder, and (c) Landlord’s residuary estate interest in the Project. So long as it does not reduce ; (3) Tenant to receive the amount unamortized cost of the improvements constructed by Tenant; (4) Tenant to receive moving costs, loss of business and any other award payable available to Tenant (to the extent any of the foregoing are specifically awarded by the applicable condemning authority); and (5) the balance of any award (if any) shall be paid to Landlord. Termination of this Lease shall not affect the right of the respective parties to such awards. If this Lease is not terminated as a result of a taking, the entire award shall be paid to Landlord except that Tenant (i) shall be entitled to receive any amount attributable to any excess of the market value of the Premises for the remainder of the Term over the present value as of the Expiration Date of the rent payable for the remainder of the Term and (ii) shall have the right to make a separate claim in any condemnation proceeding for the taking of the unamortized or undepreciated value of the improvements and alterations owned by Tenant which Tenant may remove at the expiration or earlier termination of this Lease, reasonable removal and relocation costs for any improvements Tenant has the right to remove and elects to remove, relocation costs, the claim for which Tenant may pursue by separate action independent of this Lease and any other amount. Tenant shall have the right to negotiate directly with the condemnor for the recovery of the such portion of the award that Tenant is entitled to under subsection (ii) above. Further, Tenant shall not make claims against Landlord or the condemning authority for damages. If a temporary taking of part of the Premises or a portion of the Project which prevents Tenant's use or occupancy of all or a material portion of the Premises occurs through (a) the exercise of any government power (by legal proceedings or otherwise) by condemnor or (b) a voluntary sale or transfer by Landlord to any condemnor, either under threat of exercise of in said eminent domain proceedings which is attributable to Tenant’s personal property and/or the unamortized cost of leasehold improvements constructed by a condemnor Tenant, or while legal proceedings for condemnation are pending, Rent shall xxxxx during the time loss of such taking in proportion to the portion of the Premises taken. The entire award relating to the temporary taking shall be and remain the property of Landlord. Tenant irrevocably assigns and transfers to Landlord all rights to and interest in such award and fully releases and relinquishes any claim to, right to make a claim on, business and any other interest in award available to Tenant (to the awardextent any of the foregoing are specifically awarded by the applicable condemning authority).