Condemnation Award. In connection with any taking of the Premises or the Building, Landlord will be entitled to receive the entire amount of any award which may be made or given in such taking or condemnation, without deduction or apportionment for any estate or interest of Tenant, it being expressly understood and agreed by Tenant that no portion of any such award will be allowed or paid to Tenant for any so-called bonus or excess value of this Lease, and such bonus or excess value will be the sole property of Landlord. Tenant agrees not to assert any claim against Landlord or the taking authority for any compensation because of such taking (including any claim for bonus or excess value of this Lease); provided, however, if any portion of the Premises is taken, Tenant will have the right to recover from the condemning authority (but not from Landlord) any compensation as may be separately awarded or recoverable by Tenant for the taking of Tenant's furniture, fixtures, equipment and other personal property within the Premises, for Tenant's relocation expenses, and for any loss of goodwill or other damage to Tenant's business by reason of such taking.
Condemnation Award. All compensation awarded or paid upon any total or partial taking of the Demised Premises shall belong to and be the property of the Landlord. Nothing herein shall prevent Tenant from pursuing a separate award from the condemning authority for its moving expenses or for the taking of its personal property, as long as Tenant’s award does not reduce Landlord’s award from the condemning authority.
Condemnation Award. In any condemnation proceedings, the FCRHA and Tenant each agree to cooperate in obtaining the highest award possible and agree to request that separate awards be made for the FCRHA’s and Tenant’s interests in the Premises and the Improvements. In the event that separate awards are not made for the FCRHA’s and Tenant’s interests in the Premises and the Improvements, any compensation which may be awarded on account of the taking of all of the Premises, and Improvements by eminent domain shall be fairly allocated between the ownership of the fee and the leasehold estates in accordance with the loss and damage suffered by each, taking into consideration all the relevant facts and circumstances, including, but not limited to, the then present value of the Premises and all of the Improvements and the present value of the FCRHA’s remainder interest in such Improvements as well as the value of the FCRHA’s and Tenant’s interest in the Lease for the remainder of the Term (i.e., from the date the Premises is taken until the Fixed Expiration Date). If the parties are unable to agree on the allocation of the condemnation award between the FCRHA and Tenant (the “Respective Allocations”) within thirty (30) days after the condemnation proceedings have terminated, the allocation shall be determined by appraisal, using the method hereinafter set forth:
Condemnation Award. Landlord shall have and hereby reserves and excepts, and Tenant hereby grants and assigns to Landlord, all rights to recover for damages to the Property and the leasehold interest hereby created, and to compensation accrued or hereafter to accrue by reason of any taking, by exercise of the right of eminent domain, and by way of confirming the foregoing, Tenant hereby grants and assigns, and covenants with Landlord to grant and assign to Landlord, all rights to such damages or compensation, and covenants to deliver such further assignments and assurances thereof as Landlord may from time to time request, and Tenant hereby irrevocably appoints Landlord its attorney-in-fact to execute and deliver in Tenant’s name all such assignments and assurances. Nothing contained herein shall be construed to prevent Tenant from prosecuting in a separate condemnation proceeding a claim for the value of any of Tenant’s Removable Property installed in the Premises by Tenant at Tenant’s expense and for relocation expenses, provided that such action shall not affect the amount of compensation otherwise recoverable by Landlord from the taking authority.
Condemnation Award. All compensation awarded upon any such partial or total Condemnation shall be paid to Landlord and Tenant shall have no claim thereto, and Tenant hereby irrevocably assigns and transfers to Landlord any right to compensation or damages by reason of any such Condemnation. Provided, however, that Tenant shall have the right to claim and recover from the condemning authority, but not from Landlord, such compensation as may be separately awarded or recoverable by Tenant in Tenant's own right on account of any damage to Tenant's business by reason of the Condemnation and on account of any cost that Tenant may incur in removing Tenant's merchandise, furniture, fixtures, leasehold improvements and equipment. If this Lease is terminated, in whole or in part, in accordance with this Article as a result of a Condemnation, Tenant shall have no claim for the value of any unexpired term of this Lease.
Condemnation Award. If the whole or any part of the Premises are taken pursuant to any condemnation proceeding, then Landlord shall be entitled to the entirety of any condemnation award except that portion allocable to the value of Master Xxxxxx’s leasehold interest of the unexpired term of this Lease, any Master Xxxxxx’s Property, Subtenant’s Personal Property and/or any unsalvageable trade fixtures or furnishings owned by Master Tenant, any amounts specifically awarded or agreed upon by the Master Tenant and the condemning authority for the unamortized portion of Master Xxxxxx’s leasehold improvements and each Subtenant’s leasehold improvements shall be the property of Master Tenant (except that the portion of the condemnation award allocable to each Subtenant’s Personal Property and each Subtenant’s leasehold improvements shall be awarded to Master Tenant or the applicable Subtenant(s), as their interests may appear, or as provided in the applicable Sublease) (“Master Tenant’s Award”). The foregoing notwithstanding, if the whole or a portion of the Premises shall be taken pursuant to any condemnation proceeding and at that time the leasehold interest of the Master Tenant, or applicable portion thereof, was encumbered by a Permitted Mortgage, then Master Tenant’s Award first shall be applied to pay off or pay down the loan encumbered by the Permitted Mortgage. Master Tenant shall require in any sublease of the Premises, that any Subtenant waive any and all rights against any public entity and/or the Landlord for any portion of the condemnation award relating to the Subtenant(s) value of the leasehold interest of any unexpired term.
Condemnation Award. Landlord and Tenant shall jointly prosecute and settle the proceedings for the determination and payment of the award payable on account of any such taking, and the cost of such proceedings shall be a first charge against the award received. The net award shall be divided between Landlord and Tenant as follows: first, Landlord shall be entitled to so much of the net award as is fairly allocable to the reversionary value of the land taken; and second, Tenant shall be entitled to so much of the net award as is fairly allocable to the leasehold value of the land taken and to so much of the award as is fairly allocable to the improvements taken; it being intended that the net award shall be fairly allocated, first between land taken and improvements taken, and then that the portion so allocated to land taken shall be further fairly allocated between (i) reversionary value and (ii) leasehold value. Notwithstanding the foregoing, out of the net award and before any division between Landlord and Tenant as provided above there shall be paid to the holders of the mortgages placed on the demised premises, or any part or parts thereof, by Tenant or by Landlord at Tenant's request pursuant to the provisions of Article 12, either the balance unpaid on said mortgages together with interest to date of payment if this Lease be terminated as aforesaid or the requirements of the holders of said mortgages if this Lease not be so terminated; and if this Lease shall not be terminated by reason of said taking subject to Article 9 above, there shall be paid to Tenant the cost of repairing and restoring the improvements which remain upon the demised premises after said taking.
Condemnation Award. The entire award or compensation for any Taking of the Project and/or the Premises, or any part thereof, or for diminution in value, shall be the property of Landlord, and Tenant hereby assigns its interest in any such award to Landlord; provided, however, Landlord shall have no interest in any separate award made to Tenant for loss of business, for relocation purposes, or for the taking of Tenant's fixtures and improvements.
Condemnation Award. Any award resulting from any Taking of the Premises for the value of Tenant’s leasehold prior to the Taking, or Tenant’s personal property, fixtures, relocation costs or loss of goodwill shall be the property of Tenant. All of any award resulting from any such Taking not specifically reserved to Tenant shall be the property of Landlord.
Condemnation Award. Should, during the Term of this Sublease or any renewal or extension thereof, title and possession of all or any portion of the Leased Premises be taken under the power of eminent domain by any public or quasi-public agency or entity, the compensation or damages for the taking awarded shall belong to and be the sole property of the Sublessor.
