Common use of Casualty; Condemnation Clause in Contracts

Casualty; Condemnation. Section 6.01 FILOT Payments in the Event of Damage and Destruction or Condemnation. In the event that the Project is damaged or destroyed or the subject of condemnation proceedings, which damage, destruction and/or condemnation would substantially impair the operating ability of the Project, the parties hereto agree that the payments in lieu of taxes required pursuant to Section 5.02 hereof shall be abated in the same manner and in the same proportion as with ad valorem taxes, subject in all events to the provisions of Section 5.02 hereof.

Casualty; Condemnation. Section 6.01 FILOT Payments in the Event of Damage and Destruction or Condemnation. Condemnation.‌ In the event that the Project is damaged or destroyed or the subject of condemnation proceedings, which damage, destruction and/or condemnation would substantially impair the operating ability of the Project, the parties hereto agree that the payments in lieu of taxes required pursuant to Section 5.02 hereof shall be abated in the same manner and in the same proportion as with ad valorem taxes, subject in all events to the provisions of Section 5.02 hereof.

Casualty; Condemnation. Section 6.01 FILOT Payments in the Event of Damage and Destruction or Condemnation. In the event that the Project is damaged or destroyed or the subject of condemnation proceedings, which damage, destruction and/or condemnation would substantially impair the operating ability of the Project, the parties hereto agree that the payments in lieu of taxes FILOT Payments required pursuant to Section 5.02 hereof shall be abated in the same manner and in the same proportion as with ad valorem taxes, subject in all events to the provisions of Section 5.02 hereof.