Common use of Compulsory Acquisition Clause in Contracts

Compulsory Acquisition. (i) The Tenant shall notify the Landlord immediately upon receiving a Compulsory Acquisition Notice. (ii) The Landlord is authorized to collect, settle and compromise, in its discretion (and, if no Breach Event exists, upon notice to Tenant), the amount of any Net Award. (iii) If no Breach Event has occurred and is continuing, the Tenant shall be entitled to participate with the Landlord in any Compulsory Acquisition proceeding or negotiations under threat thereof and to contest the Compulsory Acquisition or the amount of the Net Award. (iv) No agreement with any acquirer in settlement or under threat of any Compulsory Acquisition shall be made by the Tenant without the written consent of the Landlord. (v) Subject expressly to the Tenant’s absolute right to the payments set out in (vi) below, the Tenant hereby irrevocably undertakes to pay (or, if requested by the Landlord, assign) to Landlord any award or payment to which the Tenant is or may be entitled by reason of any Compulsory Acquisition, whether the same shall be paid or payable for the Tenant’s leasehold interest hereunder or otherwise. (vi) Nothing in this Lease shall impair the Tenant’s right to any award or payment on account of the Tenant’s trade fixtures, equipment or other tangible property which is not part of the Plant, moving expenses or loss of business, if available, to the extent that and so long as (A) the Tenant shall have the right to make, and does make, a separate claim therefore against the acquirer and (B) such claim does not in any way reduce either the amount of the award otherwise payable to Landlord for the Compulsory Acquisition of the Landlord’s interest in the Premises or the amount of the award (if any) otherwise payable for the Compulsory Acquisition of the Tenant’s leasehold interest under this Lease. (i) If any Partial Compulsory Acquisition shall occur to any Related Premises, this Lease shall continue, notwithstanding such event, and Basic Rent shall continue to be payable in the amounts and on the dates specified herein. (ii) Promptly after such Partial Compulsory Acquisition, the Tenant shall commence and diligently continue to restore the affected Related Premises as nearly as possible to its value, condition and character immediately prior to such event (assuming the affected Related Premises to have been in the condition required by this Lease) unless it is physically impossible for the affected Related Premises to be reinstated as confirmed by a surveyor from a nationally recognized firm of chartered surveyors, in which event the terms of clause 8.17.4 shall apply). (iii) So long as no Breach Event exists and provided that reinstatement as aforesaid remains physically possible in terms set out in clause 8.17.2(ii), any Net Award received by the Landlord up to and including £500,000 shall be promptly paid by the Landlord to the Tenant pursuant to the provision of clause 8.18.1 and Tenant shall restore the Premises to the condition prior to the Partial Compulsory Acquisition. (iv) Any Net Award in excess of £500,000 received by the Landlord shall be made available by the Landlord to the Tenant for the restoration pursuant to and in accordance with the provisions of clause 8.18.2. 8.17.3 Upon the expiration of the Term, any portion of such Net Award which shall not have been previously credited to the Tenant shall be retained by the Landlord (except for such portion of the Net Award which the Landlord is obliged to make available to the Tenant for the restoration of the Premises and to be used to reimburse Tenant for any such restoration pursuant to and in accordance with the provisions of clauses 8.18.1 and 8.18.2, as applicable). 8.17.4 If either (i) all of any Related Premises shall be taken by a Compulsory Acquisition or (ii) any substantial portion of any Related Premises shall be taken by a Compulsory Acquisition and, in any such case, Tenant certifies and undertakes to Landlord that it will not be able to reasonably operate at the Related Premises (any one or all of the Related Premises. described in clauses (i) and (ii) above being hereinafter referred to as the Affected Premises and each of the events described in the above clauses (i) and (ii) shall hereinafter be referred to as a Termination Event), then Tenant shall have the right, within ninety (90) days after Tenant receives a Compulsory Acquisition Notice, to give to Landlord written notice (a Termination Notice) in the form described in this clause 8.17.4 of the Tenant’s election to terminate this Lease as to the Affected Premises. If Tenant elects not to give Landlord a Termination Notice, then Tenant shall rebuild, restore or repair the Affected Premises and any Net Award received by the Landlord shall be made available by the Landlord to the Tenant for the restoration pursuant to and in accordance with the provisions of clause 8.18.

Compulsory Acquisition. (i) The In the event that the Premises or the Complex or any part thereof shall at any time become the subject matter of or be included in any notice or declaration concerning or relating to acquisition by the Appropriate Authorities or any other governmental authority or any inquiry or proceedings in respect thereof, the Party receiving any such notice thereof shall forthwith inform the other Party and forward the other Party a certified true copy of any such notice, notification or declaration as soon as the same are delivered to or served on the originally receiving Party. In the event of the exercise of any rights or the taking of any steps under the Land Acquisition Xxx 0000, by the government or any other authority having power in that behalf, between the date of this Agreement and the Date of Completion of Premises Transfer, to acquire all or a part of the Land and which affects any part of the Property, Landlord shall notify Tenant forthwith on Landlord receiving notice of the exercise of such rights or the taking of such steps. Landlord and Tenant hereby agree that this Agreement shall remain in full force and effect notwithstanding such notice or action and thereupon: 13.1 Landlord shall notify the Landlord immediately upon receiving a Compulsory Acquisition Notice. (ii) The Landlord is authorized to collectAppropriate Authorities or such other acquiring authority, settle and compromise, in its discretion (and, if no Breach Event exists, upon notice to Tenant), the amount of any Net Award. (iii) If no Breach Event has occurred and is continuing, the Tenant shall be entitled to participate with the Landlord in any Compulsory Acquisition proceeding or negotiations under threat thereof and to contest the Compulsory Acquisition or the amount of the Net Award.interest of Tenant in the Premises and the terms of this Agreement; (iv) No agreement with any acquirer 13.2 Landlord shall in settlement or under threat of any Compulsory Acquisition shall all matters concerning such acquisition do all acts and things as may be made by the Tenant without the written consent of the Landlord. (v) Subject expressly to the Tenant’s absolute right to the payments set out in (vi) below, the Tenant hereby irrevocably undertakes to pay (or, if reasonably requested by Tenant (at the Landlord, assigncost and expense of Tenant) for acquiring the best compensation payable; and 13.3 any compensation payable under such acquisition shall belong to Landlord any award or payment to which the Tenant is or may be entitled by reason of any Compulsory Acquisition, whether as and when the same shall be paid or payable for the Tenant’s leasehold interest hereunder or otherwise. (vi) Nothing in this Lease shall impair the Tenant’s right to any award or payment on account of the Tenant’s trade fixturespaid, equipment or other tangible property which is not part of the Plant, moving expenses or loss of business, if available, to the extent that and so long as (A) the Tenant shall have the right to make, and does make, a separate claim therefore against the acquirer and (B) such claim does not in any way reduce either the amount of the award otherwise payable to Landlord for the Compulsory Acquisition of the Landlord’s interest in the Premises or the amount of the award (if any) otherwise payable for the Compulsory Acquisition of the Tenant’s leasehold interest under this Lease. (i) If any Partial Compulsory Acquisition shall occur to any Related Premises, this Lease shall continue, notwithstanding such event, and Basic Rent shall continue to be payable in the amounts and on the dates specified herein. (ii) Promptly after such Partial Compulsory Acquisition, the Tenant shall commence and diligently continue to restore the affected Related Premises as nearly as possible to its value, condition and character immediately prior to such event (assuming the affected Related Premises to have been in the condition required by this Lease) unless it is physically impossible for the affected Related Premises to be reinstated as confirmed by a surveyor from a nationally recognized firm of chartered surveyors, in which event the terms of clause 8.17.4 shall apply). (iii) So long as no Breach Event exists and provided that reinstatement as aforesaid remains physically possible in terms set out in clause 8.17.2(ii), any Net Award such compensation paid to or received by the Landlord up to and including £500,000 shall be promptly paid by the Landlord to the Tenant pursuant to the provision of clause 8.18.1 and Tenant shall restore the Premises to the condition prior to the Partial Compulsory Acquisition. (iv) Any Net Award in excess of £500,000 received by the Landlord shall be made available retained and held on trust by the Landlord on behalf of Tenant and Landlord shall pay such sums to the Tenant for the restoration pursuant to and in accordance with the provisions of clause 8.18.2. 8.17.3 Upon the expiration of the Term, any portion within fourteen (14) days from receipt of such Net Award which shall not have been previously credited to the Tenant shall be retained by the Landlord (except for such portion of the Net Award which the Landlord is obliged to make available to the Tenant for the restoration of the Premises and to be used to reimburse Tenant for any such restoration pursuant to and in accordance with the provisions of clauses 8.18.1 and 8.18.2, as applicable)sums. 8.17.4 If either (i) all of any Related Premises shall be taken by a Compulsory Acquisition or (ii) any substantial portion of any Related Premises shall be taken by a Compulsory Acquisition and, in any such case, Tenant certifies and undertakes to Landlord that it will not be able to reasonably operate at the Related Premises (any one or all of the Related Premises. described in clauses (i) and (ii) above being hereinafter referred to as the Affected Premises and each of the events described in the above clauses (i) and (ii) shall hereinafter be referred to as a Termination Event), then Tenant shall have the right, within ninety (90) days after Tenant receives a Compulsory Acquisition Notice, to give to Landlord written notice (a Termination Notice) in the form described in this clause 8.17.4 of the Tenant’s election to terminate this Lease as to the Affected Premises. If Tenant elects not to give Landlord a Termination Notice, then Tenant shall rebuild, restore or repair the Affected Premises and any Net Award received by the Landlord shall be made available by the Landlord to the Tenant for the restoration pursuant to and in accordance with the provisions of clause 8.18.

Compulsory Acquisition. (i) The In the event that the Premises or the Complex or any part thereof shall at any time become the subject matter of or be included in any notice or declaration concerning or relating to acquisition by the Appropriate Authorities or any other governmental authority or any inquiry or proceedings in respect thereof, the Party receiving any such notice thereof shall forthwith inform the other Party and forward the other Party a certified true copy of any such notice, notification or declaration as soon as the same are delivered to or served on the originally receiving Party. In the event of the exercise of any rights or the taking of any steps under the Land Acquisition Axx 0000, by the government or any other authority having power in that behalf, between the date of this Agreement and the Date of Completion of Premises Transfer, to acquire all or a part of the Land and which affects any part of the Property, Landlord shall notify Tenant forthwith on Landlord receiving notice of the exercise of such rights or the taking of such steps. Landlord and Tenant hereby agree that this Agreement shall remain in full force and effect notwithstanding such notice or action and thereupon: 13.1 Landlord shall notify the Landlord immediately upon receiving a Compulsory Acquisition Notice. (ii) The Landlord is authorized to collectAppropriate Authorities or such other acquiring authority, settle and compromise, in its discretion (and, if no Breach Event exists, upon notice to Tenant), the amount of any Net Award. (iii) If no Breach Event has occurred and is continuing, the Tenant shall be entitled to participate with the Landlord in any Compulsory Acquisition proceeding or negotiations under threat thereof and to contest the Compulsory Acquisition or the amount of the Net Award.interest of Tenant in the Premises and the terms of this Agreement; (iv) No agreement with any acquirer 13.2 Landlord shall in settlement or under threat of any Compulsory Acquisition shall all matters concerning such acquisition do all acts and things as may be made by the Tenant without the written consent of the Landlord. (v) Subject expressly to the Tenant’s absolute right to the payments set out in (vi) below, the Tenant hereby irrevocably undertakes to pay (or, if reasonably requested by Tenant (at the Landlord, assigncost and expense of Tenant) for acquiring the best compensation payable; and 13.3 any compensation payable under such acquisition shall belong to Landlord any award or payment to which the Tenant is or may be entitled by reason of any Compulsory Acquisition, whether as and when the same shall be paid or payable for the Tenant’s leasehold interest hereunder or otherwise. (vi) Nothing in this Lease shall impair the Tenant’s right to any award or payment on account of the Tenant’s trade fixturespaid, equipment or other tangible property which is not part of the Plant, moving expenses or loss of business, if available, to the extent that and so long as (A) the Tenant shall have the right to make, and does make, a separate claim therefore against the acquirer and (B) such claim does not in any way reduce either the amount of the award otherwise payable to Landlord for the Compulsory Acquisition of the Landlord’s interest in the Premises or the amount of the award (if any) otherwise payable for the Compulsory Acquisition of the Tenant’s leasehold interest under this Lease. (i) If any Partial Compulsory Acquisition shall occur to any Related Premises, this Lease shall continue, notwithstanding such event, and Basic Rent shall continue to be payable in the amounts and on the dates specified herein. (ii) Promptly after such Partial Compulsory Acquisition, the Tenant shall commence and diligently continue to restore the affected Related Premises as nearly as possible to its value, condition and character immediately prior to such event (assuming the affected Related Premises to have been in the condition required by this Lease) unless it is physically impossible for the affected Related Premises to be reinstated as confirmed by a surveyor from a nationally recognized firm of chartered surveyors, in which event the terms of clause 8.17.4 shall apply). (iii) So long as no Breach Event exists and provided that reinstatement as aforesaid remains physically possible in terms set out in clause 8.17.2(ii), any Net Award such compensation paid to or received by the Landlord up to and including £500,000 shall be promptly paid by the Landlord to the Tenant pursuant to the provision of clause 8.18.1 and Tenant shall restore the Premises to the condition prior to the Partial Compulsory Acquisition. (iv) Any Net Award in excess of £500,000 received by the Landlord shall be made available retained and held on trust by the Landlord on behalf of Tenant and Landlord shall pay such sums to the Tenant for the restoration pursuant to and in accordance with the provisions of clause 8.18.2. 8.17.3 Upon the expiration of the Term, any portion within fourteen (14) days from receipt of such Net Award which shall not have been previously credited to the Tenant shall be retained by the Landlord (except for such portion of the Net Award which the Landlord is obliged to make available to the Tenant for the restoration of the Premises and to be used to reimburse Tenant for any such restoration pursuant to and in accordance with the provisions of clauses 8.18.1 and 8.18.2, as applicable)sums. 8.17.4 If either (i) all of any Related Premises shall be taken by a Compulsory Acquisition or (ii) any substantial portion of any Related Premises shall be taken by a Compulsory Acquisition and, in any such case, Tenant certifies and undertakes to Landlord that it will not be able to reasonably operate at the Related Premises (any one or all of the Related Premises. described in clauses (i) and (ii) above being hereinafter referred to as the Affected Premises and each of the events described in the above clauses (i) and (ii) shall hereinafter be referred to as a Termination Event), then Tenant shall have the right, within ninety (90) days after Tenant receives a Compulsory Acquisition Notice, to give to Landlord written notice (a Termination Notice) in the form described in this clause 8.17.4 of the Tenant’s election to terminate this Lease as to the Affected Premises. If Tenant elects not to give Landlord a Termination Notice, then Tenant shall rebuild, restore or repair the Affected Premises and any Net Award received by the Landlord shall be made available by the Landlord to the Tenant for the restoration pursuant to and in accordance with the provisions of clause 8.18.