Common use of Condemnation and Eminent Domain Clause in Contracts

Condemnation and Eminent Domain. (a) Any and all awards (the “Awards”) in excess of $500,000.00 heretofore or hereafter made or to be made to the Borrower (or any subsequent owner of the Premises, or any part thereof) by any governmental or other lawful authority for the taking, by condemnation or eminent domain, of all or any part of the Premises (including any award from the United States government at any time after the allowance of a claim therefor, the ascertainment of the amount thereto, and the issuance of a warrant for payment thereof), are hereby assigned by the Borrower to the Agent, which Awards the Agent is hereby authorized to collect and receive from the condemnation authorities, and the Agent is hereby authorized to appear in and prosecute, in the name of and on behalf of the Borrower, any action or proceeding to enforce any such cause of action in which an award in excess of $500,000.00 is sought and to make any compromise or settlement in connection therewith and to give appropriate receipts and acquittance therefor in the name and in behalf of the Borrower. The Borrower shall give the Agent immediate notice of the actual or threatened commencement of any condemnation or eminent domain proceedings affecting all or any part of the Premises and shall deliver to the Agent copies of any and all papers served in connection with any such proceedings. All reasonable costs and expenses incurred by the Agent in the adjustment and collection of any such Awards (including without limitation reasonable attorneys’ fees and expenses) shall be so much additional Debt, and shall be reimbursed to the Agent from any Award prior to any other application thereof. The Borrower further agrees to make, execute and deliver to the Agent, at any time upon request, free, clear, and discharged of any encumbrance of any kind whatsoever (other than Permitted Encumbrances), any and all further assignments and other instruments deemed necessary by the Agent for the purpose of validly and sufficiently assigning all Awards in excess of $500,000.00 and other compensation heretofore and hereafter made to the Borrower for any permanent taking, under any such proceeding.

Condemnation and Eminent Domain. (a) Any and all awards (the “Awards”) in excess of $500,000.00 250,000.00 heretofore or hereafter made or to be made to the Borrower (or any subsequent owner of the PremisesProperty, or any part thereof) by any governmental or other lawful authority for the taking, by condemnation or eminent domain, of all or any part of the Premises Property (including any award from the United States government at any time after the allowance of a claim therefor, the ascertainment of the amount thereto, and the issuance of a warrant for payment thereof), are hereby assigned by the Borrower to the Administrative Agent, which Awards the Administrative Agent is hereby authorized to collect and receive from the condemnation authorities, and the Administrative Agent is hereby authorized to appear in and prosecute, in the name of and on behalf of the Borrower, any action or proceeding to enforce any such cause of action in which an award in excess of $500,000.00 250,000.00 is sought and to make any compromise or settlement in connection therewith and to give appropriate receipts and acquittance therefor in the name and in behalf of the Borrower. The Borrower shall give the Administrative Agent immediate notice of the actual or threatened commencement of any condemnation or eminent domain proceedings affecting all or any part of the Premises Property and shall deliver to the Administrative Agent copies of any and all papers served in connection with any such proceedings. All reasonable costs and expenses incurred by the Administrative Agent in the adjustment and collection of any such Awards (including without limitation reasonable attorneys’ fees and expenses) shall be so much additional DebtObligations, and shall be reimbursed with interest thereon to the Administrative Agent from any Award prior to any other application thereof. The Borrower further agrees to make, execute and deliver to the Administrative Agent, at any time upon request, free, clear, and discharged of any encumbrance of any kind whatsoever (other than Permitted Encumbrances), any and all further assignments and other instruments deemed necessary by the Administrative Agent for the purpose of validly and sufficiently assigning all Awards in excess of $500,000.00 250,000.00 and other compensation heretofore and hereafter made to the Borrower for any permanent taking, under any such proceeding.

Condemnation and Eminent Domain. (a) Any and all awards (the “Awards”) in excess of $500,000.00 100,000.00 heretofore or hereafter made or to be made to the Borrower (or any subsequent owner of the PremisesProperty, or any part thereof) by any governmental or other lawful authority for the taking, by condemnation or eminent domain, of all or any part of the Premises Property (including any award from the United States government at any time after the allowance of a claim therefor, the ascertainment of the amount thereto, and the issuance of a warrant for payment thereof), are hereby assigned by the Borrower to the AgentLender, which Awards the Agent Lender is hereby authorized to collect and receive from the condemnation authorities, and the Agent Lender is hereby authorized to appear in and prosecute, in the name of and on behalf of the Borrower, any action or proceeding to enforce any such cause of action in which an award in excess of $500,000.00 100,000.00 is sought and to make any compromise or settlement in connection therewith and to give appropriate receipts and acquittance therefor in the name and in behalf of the Borrower. The Borrower shall give the Agent Lender immediate notice of the actual or threatened commencement of any condemnation or eminent domain proceedings affecting all or any part of the Premises Property and shall deliver to the Agent Lender copies of any and all papers served in connection with any such proceedings. All reasonable costs and expenses incurred by the Agent Lender in the adjustment and collection of any such Awards (including without limitation reasonable attorneys’ fees and expenses) shall be so much additional DebtIndebtedness, and shall be reimbursed with interest thereon to the Agent Lender from any Award prior to any other application thereof. The Borrower further agrees to make, execute and deliver to the AgentLender, at any time upon request, free, clear, and discharged of any encumbrance of any kind whatsoever (other than Permitted Encumbrances), any and all further assignments and other instruments deemed necessary by the Agent Lender for the purpose of validly and sufficiently assigning all Awards in excess of $500,000.00 100,000.00 and other compensation heretofore and hereafter made to the Borrower for any permanent taking, under any such proceeding.

Condemnation and Eminent Domain. (a) Any and all awards (the “Awards”) in excess of $500,000.00 250,000.00 heretofore or hereafter made or to be made to the Borrower (or any subsequent owner of the PremisesProperty, or any part thereof) by any governmental or other lawful authority for the taking, by condemnation or eminent 42 domain, of all or any part of the Premises Property (including any award from the United States government at any time after the allowance of a claim therefor, the ascertainment of the amount thereto, and the issuance of a warrant for payment thereof), are hereby assigned by the Borrower to the Administrative Agent, which Awards the Administrative Agent is hereby authorized to collect and receive from the condemnation authorities, and the Administrative Agent is hereby authorized to appear in and prosecute, in the name of and on behalf of the Borrower, any action or proceeding to enforce any such cause of action in which an award in excess of $500,000.00 250,000.00 is sought and to make any compromise or settlement in connection therewith and to give appropriate receipts and acquittance therefor in the name and in behalf of the Borrower. The Borrower shall give the Administrative Agent immediate notice of the actual or threatened commencement of any condemnation or eminent domain proceedings affecting all or any part of the Premises Property and shall deliver to the Administrative Agent copies of any and all papers served in connection with any such proceedings. All reasonable costs and expenses incurred by the Administrative Agent in the adjustment and collection of any such Awards (including without limitation reasonable attorneys’ fees and expenses) shall be so much additional DebtObligations, and shall be reimbursed with interest thereon to the Administrative Agent from any Award prior to any other application thereof. The Borrower further agrees to make, execute and deliver to the Administrative Agent, at any time upon request, free, clear, and discharged of any encumbrance of any kind whatsoever (other than Permitted Encumbrances), any and all further assignments and other instruments deemed necessary by the Administrative Agent for the purpose of validly and sufficiently assigning all Awards in excess of $500,000.00 250,000.00 and other compensation heretofore and hereafter made to the Borrower for any permanent taking, under any such proceeding.

Condemnation and Eminent Domain. (a) Any and all awards (the “Awards”) in excess of $500,000.00 400,000.00 heretofore or hereafter made or to be made to the Borrower (or any subsequent owner of the PremisesProperty, or any part thereof) by any governmental or other lawful authority for the taking, by condemnation or eminent domain, of all or any part of the Premises Property (including any award from the United States government at any time after the allowance of a claim therefor, the ascertainment of the amount thereto, and the issuance of a warrant for payment thereof), are hereby assigned by the Borrower to the AgentLender, which Awards the Agent Lender is hereby authorized to collect and receive from the condemnation authorities, and the Agent Lender is hereby authorized to appear in and prosecute, in the name of and on behalf of the Borrower, any action or proceeding to enforce any such cause of action in which an award in excess of $500,000.00 400,000.00 is sought and to make any compromise or settlement in connection therewith and to give appropriate receipts and acquittance therefor in the name and in behalf of the Borrower. The Borrower shall give the Agent Lender immediate notice of the actual or threatened commencement of any condemnation or eminent domain proceedings affecting all or any part of the Premises Property after Borrower has knowledge of same and shall deliver to the Agent Lender copies of any and all papers served in connection with any such proceedings. All reasonable costs and expenses incurred by the Agent Lender in the adjustment and collection of any such Awards (including without limitation reasonable attorneys’ fees and expenses) shall be so much additional DebtObligations, and shall be reimbursed with interest thereon to the Agent Lender from any Award prior to any other application thereof. The Borrower further agrees to make, execute and deliver to the AgentLender, at any time upon request, free, clear, and discharged of any encumbrance of any kind whatsoever (other than Permitted Encumbrances), any and all further assignments and other instruments deemed necessary by the Agent Lender for the purpose of validly and sufficiently assigning all Awards in excess of $500,000.00 400,000.00 and other compensation heretofore and hereafter made to the Borrower for any permanent taking, under any such proceeding.

Condemnation and Eminent Domain. (a) Any and all awards (the “Awards”) in excess of $500,000.00 250,000.00 heretofore or hereafter made or to be made to the Borrower (or any subsequent owner of the PremisesProperty, or any part thereof) by any governmental or other lawful authority for the taking, by condemnation or eminent domain, of all or any part of the Premises Property (including any award from the United States government at any time after the allowance of a claim therefor, the ascertainment of the amount thereto, and the issuance of a warrant for payment thereof), are hereby assigned by the Borrower Bxxxxxxx to the Administrative Agent, which Awards the Administrative Agent is hereby authorized to collect and receive from the condemnation authorities, and the Administrative Agent is hereby authorized to appear in and prosecute, in the name of and on behalf of the Borrower, any action or proceeding to enforce any such cause of action in which an award in excess of $500,000.00 250,000.00 is sought and to make any compromise or settlement in connection therewith and to give appropriate receipts and acquittance therefor in the name and in behalf of the BorrowerBxxxxxxx. The Borrower shall give the Administrative Agent immediate notice of the actual or threatened commencement of any condemnation or eminent domain proceedings affecting all or any part of the Premises Property and shall deliver to the Administrative Agent copies of any and all papers served in connection with any such proceedings. All reasonable costs and expenses incurred by the Administrative Agent in the adjustment and collection of any such Awards (including without limitation reasonable attorneys’ fees and expenses) shall be so much additional DebtObligations, and shall be reimbursed with interest thereon to the Administrative Agent from any Award prior to any other application thereof. The Borrower Bxxxxxxx further agrees to make, execute and deliver to the Administrative Agent, at any time upon request, free, clear, and discharged of any encumbrance of any kind whatsoever (other than Permitted Encumbrances), any and all further assignments and other instruments deemed necessary by the Administrative Agent for the purpose of validly and sufficiently assigning all Awards in excess of $500,000.00 250,000.00 and other compensation heretofore and hereafter made to the Borrower for any permanent taking, under any such proceeding.

Condemnation and Eminent Domain. (a) Any and all awards (the “Awards”) in excess of $500,000.00 1,000,000 heretofore or hereafter made or to be made to the Borrower (or any subsequent owner of the PremisesProperty, or any part thereof) by any governmental or other lawful authority for the taking, by condemnation or eminent domain, of all or any part of the Premises Property (including any award from the United States government at any time after the allowance of a claim therefor, the ascertainment of the amount thereto, and the issuance of a warrant for payment thereof), are hereby assigned by the Borrower to the AgentLender, which Awards the Agent Lender is hereby authorized to collect and receive from the condemnation authorities, and the Agent Lender is hereby authorized to appear in and prosecute, in the name of and on behalf of the Borrower, any action or proceeding to enforce any such cause of action in which an award in excess of $500,000.00 1,000,000 is sought and to make any compromise or settlement in connection therewith and to give appropriate receipts and acquittance therefor in the name and in behalf of the Borrower; provided, however, that Borrower may collect and receive all Awards equal to or less than $1,000,000 without participation by, or payment to, Lender in respect of such Award. The Borrower shall give the Agent Lender immediate notice of the actual or threatened commencement of any condemnation or eminent domain proceedings affecting all or any part of the Premises Property and shall deliver to the Agent Lender copies of any and all papers served in connection with any such proceedings. All reasonable costs and expenses incurred by the Agent Lender in the adjustment and collection of any such Awards (including without limitation reasonable attorneys’ fees and expenses) shall be so much additional DebtIndebtedness, and shall be reimbursed with interest thereon to the Agent Lender from any Award prior to any other application thereof. The Borrower further agrees to make, execute and deliver to the AgentLender, at any time upon request, free, clear, and discharged of any encumbrance of any kind whatsoever (other than Permitted Encumbrances), any and all further assignments and other instruments deemed necessary by the Agent Lender for the purpose of validly and sufficiently assigning all Awards in excess of $500,000.00 1,000,000 and other compensation heretofore and hereafter made to the Borrower for any permanent taking, under any such proceeding.

Condemnation and Eminent Domain. (a) Any and all awards (the “"Awards”") in excess of $500,000.00 heretofore or hereafter made or to be made to the Borrower (or any subsequent owner of the Premises, or any part thereof) by any governmental or other lawful authority Governmental Authority for the taking, taking by condemnation or eminent domain, of all or any part of the Premises (including any award from the United States government at any time after the allowance of a claim therefor, the ascertainment of the amount thereto, and the issuance of a warrant for payment thereof), or the proceeds from a transfer in lieu of such condemnation or eminent domain are hereby assigned by the Borrower to the AgentLender, which Awards the Agent is Lender hereby authorized to collect and receive from the condemnation authorities, and the Agent . Lender is hereby authorized to appear in and prosecute, in the name of and on behalf of the Borrower, any action or proceeding to enforce any such cause of action in which an award in excess of $500,000.00 is sought and to make any compromise or settlement in connection therewith and to give appropriate receipts and acquittance acquaintances therefor in the name and in behalf of the Borrower hereby appoints Lender Borrower's attorney-in-fact, coupled with an interest, to collect such Awards. The Borrower shall give the Agent immediate Lender prompt notice of the actual or threatened commencement of any condemnation or eminent domain proceedings affecting all or any part of the Premises and shall deliver to the Agent Lender copies of any and all papers served in connection with any such proceedings. All reasonable costs and expenses incurred by the Agent in the adjustment and collection of any such Awards (including without limitation reasonable attorneys’ fees and expenses) shall be so much additional Debt, and shall be reimbursed to the Agent from any Award prior to any other application thereof. The Borrower further agrees to make, execute and deliver to the Agent77 Lender, at any time upon request, free, clear, clear and discharged of any encumbrance of any kind whatsoever (other than Permitted Encumbrances)whatsoever, any and all further assignments and other instruments deemed reasonably necessary by the Agent Lender for the purpose of validly and sufficiently assigning all Awards in excess of $500,000.00 and other compensation heretofore and hereafter made to the Borrower for upon any taking, either permanent takingor temporary, under any such proceedingproceeding and all proceeds paid from a sale in lieu of such taking, and to facilitate Lender's collection and receipt of the same. If notwithstanding the foregoing provisions any Award or other compensation described above is nonetheless paid to Borrower, Borrower shall hold such monies in trust for the benefit of Lender and shall immediately pay the same to Lender. The expenses incurred by Lender in the collection and administration of any Award (or any other compensation or proceeds described above), including, without limitation, reasonable attorneys' fees and disbursements, shall be additional Obligations, and shall be reimbursed to Lender upon demand or, at Lender's option, in the event and to the extent sufficient proceeds are available, shall be deducted by Lender from said proceeds prior to any other application hereof. Borrower may not settle or compromise any claim for or right to receive any Award (or related compensation) or its rights under any proceeding with respect thereto without the prior written consent of Lender. Notwithstanding any taking (including, without limitation, any transfer made in lieu of such taking), Borrower shall continue to pay the Loan with interest thereon at the time and in the manner provided for in the Note and the other Loan Documents and the Obligations shall not be reduced by reason of such taking (or transfer in lieu thereof) unless and until any Award (or related compensation) shall have been actually received and applied by Lender to such Obligations and then only to such extent. Borrower shall not be limited to any interest paid on the Award by the condemning authority but shall be entitled to receive out of the Award interest at the rates set forth herein and in the Note.

Condemnation and Eminent Domain. (a) Any and all awards (the “Awards”) in excess of $500,000.00 100,000 heretofore or hereafter made or to be made to the Borrower (or any subsequent owner of the PremisesProperty, or any part thereof) by any governmental or other lawful authority for the taking, by condemnation or eminent domain, of all or any part of the Premises Property (including any award from the United States government at any time after the allowance of a claim therefor, the ascertainment of the amount thereto, and the issuance of a warrant for payment thereof), are hereby assigned by the Borrower to the AgentLender, which Awards the Agent Lender is hereby authorized to collect and receive from the condemnation authorities, and the Agent Lender is hereby authorized to appear in and prosecute, in the name of and on behalf of the Borrower, any action or proceeding to enforce any such cause of action in which an award in excess of $500,000.00 100,000 is sought and to make any compromise or settlement in connection therewith and to give appropriate receipts and acquittance therefor in the name and in behalf of the Borrower. The Borrower shall give the Agent Lender immediate notice of the actual or threatened commencement of any condemnation or eminent domain proceedings affecting all or any part of the Premises Property and shall deliver to the Agent Lender copies of any and all papers served in connection with any such proceedings. All reasonable costs and expenses incurred by the Agent Lender in the adjustment and collection of any such Awards (including without limitation reasonable attorneys’ fees and expenses) shall be so much additional DebtIndebtedness, and shall be reimbursed with interest thereon to the Agent Lender from any Award prior to any other application thereof. The Borrower further agrees to make, execute and deliver to the AgentLender, at any time upon request, free, clear, and discharged of any encumbrance of any kind whatsoever (other than Permitted Encumbrances), any and all further assignments and other instruments deemed necessary by the Agent Lender for the purpose of validly and sufficiently assigning all Awards in excess of $500,000.00 100,000 and other compensation heretofore and hereafter made to the Borrower for any permanent taking, under any such proceeding.

Condemnation and Eminent Domain. (a) Any and all awards (the “Awards”) in excess of $500,000.00 50,000.00 heretofore or hereafter made or to be made to the a Borrower (or any subsequent owner of the Premisesa Hotel Property, or any part thereof) by any governmental or other lawful authority for the taking, by condemnation or eminent domain, of all or any part of the Premises Hotel Property (including any award from the United States government at any time after the allowance of a claim therefor, the ascertainment of the amount thereto, and the issuance of a warrant for payment thereof), are hereby assigned by the each Borrower to the AgentLender, which Awards the Agent Lender is hereby authorized to collect and receive from the condemnation authorities, and the Agent Lender is hereby authorized to appear in and prosecute, in the name of and on behalf of the such Borrower, any action or proceeding to enforce any such cause of action in which an award in excess of $500,000.00 50,000.00 is sought and to make any compromise or settlement in connection therewith and to give appropriate receipts and acquittance therefor in the name and in behalf of the Borrower. The Borrower Borrowers shall give the Agent Lender immediate notice of the actual or threatened commencement of any condemnation or eminent domain proceedings affecting all or any part of the Premises a Hotel Property and shall deliver to the Agent Lender copies of any and all papers served in connection with any such proceedings. All reasonable costs and expenses incurred by the Agent Lender in the adjustment and collection of any such Awards (including without limitation reasonable attorneys’ fees and expenses) shall be so much additional DebtObligations, and shall be reimbursed with interest thereon to the Agent Lender from any Award prior to any other application thereof. The Each Borrower further agrees to make, execute and deliver to the AgentLender, at any time upon request, free, clear, and discharged of any encumbrance of any kind whatsoever (other than Permitted Encumbrances), any and all further assignments and other instruments deemed necessary by the Agent Lender for the purpose of validly and sufficiently assigning all Awards in excess of $500,000.00 50,000.00 and other compensation heretofore and hereafter made to the a Borrower for any permanent taking, under any such proceeding.