Common use of Condemnation and Eminent Domain Clause in Contracts

Condemnation and Eminent Domain. Mortgagor shall give Mortgagee prompt notice of all proceedings, instituted or threatened, seeking condemnation or a taking by eminent domain or like process (herein collectively called “Taking”), of all or any part of the Property or any related easement or appurtenance, and shall deliver to Mortgagee copies of any and all papers served upon Mortgagor in connection with any such proceeding. Mortgagee (or, after entry of decree of foreclosure, the purchaser at the foreclosure sale or decree creditor, as the case may be) is hereby authorized at its option to participate in such proceeding and, upon the occurrence and during the continuance of an Event of Default, control the same and to be represented therein by counsel of its own choice, and Mortgagor will deliver, or cause to be delivered to Mortgagee such instruments as may be requested by it from time to time to permit such participation or control. Mortgagor hereby assigns, transfers and sets over unto Mortgagee the entire proceeds of any and all Awards resulting from any Taking. Mortgagee is hereby authorized to collect and receive from the condemnation authorities all Awards and is further authorized to give appropriate receipts and acquittances. Such Award or payment, less the amount of any expenses incurred in litigating, arbitrating, compromising, or settling any claim arising out of a Taking, shall be applied in the same manner as if they were proceeds from a casualty loss covered by insurance in accordance with Section 4.6 of the Credit Agreement and in accordance with Section 3.5 hereafter.

Condemnation and Eminent Domain. Mortgagor If any portion of the real estate of which the Leased Premises are a part shall give Mortgagee prompt notice of all proceedings, instituted or threatened, seeking condemnation or a taking by be taken under eminent domain or like process (herein collectively called “Taking”)a condemnation proceeding, or if suit or other action shall be instituted for the taking or condemnation thereof, or if in lieu of all any formal condemnation proceedings or actions, the Landlord shall grant an option to purchase and or shall sell and convey the Leased Premises or any part portion thereof, to the governmental or other public authority, agency, body or public utility, seeking to take said land and the Premises or any portion thereof, then this Lease, at the option of the Property Landlord shall terminate and the Term hereof shall end as of such date as the Landlord shall fix by notice in writing. The Tenant(s) shall have no claim or right to claim or be entitled to any related easement or appurtenance, and shall deliver to Mortgagee copies portion of any and all papers served upon Mortgagor in connection with any amount which may be awarded as damages or paid as the result of such proceeding. Mortgagee (orcondemnation proceedings or paid as the purchase price for such option, after entry of decree of foreclosure, the purchaser at the foreclosure sale or decree creditorconveyance in lieu of formal condemnation proceedings. The Tenant(s) agree(s) to vacate the Premises, remove all of the Tenant(s)’ personal property therefrom and deliver up peaceably possession thereof to the Landlord or to such other party designated by the Landlord. The Tenant shall repay the Landlord for such costs, expenses, damages and losses as the case Landlord may be) is hereby authorized at its option to participate in such proceeding and, upon the occurrence and during the continuance of an Event of Default, control the same and to be represented therein incur by counsel of its own choice, and Mortgagor will deliver, or cause to be delivered to Mortgagee such instruments as may be requested by it from time to time to permit such participation or control. Mortgagor hereby assigns, transfers and sets over unto Mortgagee the entire proceeds of any and all Awards resulting from any Taking. Mortgagee is hereby authorized to collect and receive from the condemnation authorities all Awards and is further authorized to give appropriate receipts and acquittances. Such Award or payment, less the amount of any expenses incurred in litigating, arbitrating, compromising, or settling any claim arising out of a Taking, shall be applied in the same manner as if they were proceeds from a casualty loss covered by insurance in accordance with Section 4.6 reason of the Credit Agreement and in accordance with Section 3.5 hereafterTenant’s breach hereof.

Condemnation and Eminent Domain. Mortgagor shall give Mortgagee prompt notice of all proceedings, instituted or threatened, seeking condemnation or a taking by eminent domain or like process (herein collectively called “Taking”), of all or any part of the Property or affecting any related easement or appurtenanceappurtenance (including severance of, consequential damage to, or change in grade of streets), and shall deliver to Mortgagee copies of any and all papers served upon Mortgagor in connection with any such proceeding. Mortgagee (or, after entry of decree of foreclosure, the purchaser at the foreclosure sale or decree creditor, as the case may be) is hereby authorized at its option to participate in such proceeding and, upon the occurrence and during the continuance of an Event of Default, control the same and to be represented therein by counsel of its own choice, and Mortgagor Xxxxxxxxx will deliver, or cause to be delivered to Mortgagee such instruments as may be requested by it from time to time to permit such participation or control. Mortgagor must obtain Mortgagee’s consent, which consent shall not be unreasonably withheld, to settle any such proceeding. Mortgagor hereby assigns, transfers and sets over unto Mortgagee the entire proceeds of any and all Awards resulting from any Taking. Mortgagee is hereby authorized to collect and receive from the condemnation authorities all Awards and is further authorized to give appropriate receipts and acquittances. Such Award or payment, less the amount of any expenses incurred in litigating, arbitrating, compromising, or settling any claim arising out of a Taking, shall be applied in the same manner as if they were proceeds from a casualty loss covered by insurance in accordance with Section 4.6 10.06 of the Credit Agreement Indenture and in accordance with Section 3.5 hereafter.