Common use of Condemnation/Eminent Domain Clause in Contracts

Condemnation/Eminent Domain. Promptly upon obtaining knowledge of the institution of any proceedings for the condemnation of the Trust Property, or any portion thereof, Grantor will notify Beneficiary of the pendency of such proceedings. Grantor authorizes Beneficiary, at Beneficiary's option and in Beneficiary's reasonable discretion, as attorney-in-fact for Grantor, to commence, appear in and prosecute, in Beneficiary's or Grantor's name, any action or proceeding relating to any condemnation of the Trust Property, or any portion thereof, and to settle or compromise any claim in connection with such condemnation upon the occurrence and during the continuance of an Event of Default. If Beneficiary elects not to participate in such condemnation proceeding, then Grantor shall, at its expense, diligently prosecute any such proceeding and shall consult with Beneficiary, its attorneys and experts and cooperate with them in any defense of any such proceedings. All awards and proceeds of condemnation shall be applied in the same manner as insurance proceeds, and to the extent such awards and proceeds exceed $1,000,000 and no Event of Default shall have occurred and be continuing, such awards and proceeds shall be assigned to Beneficiary to be applied in the same manner as insurance proceeds, as provided above in subsection 5(f)(iii) above, and Grantor agrees to execute any such assignments of all such awards as Beneficiary may request.

Condemnation/Eminent Domain. Promptly Immediately upon obtaining knowledge of the institution of any proceedings for the condemnation of the Trust Property, or any portion thereof, Grantor will notify Beneficiary of the pendency of such proceedings. Beneficiary is hereby authorized and empowered by Grantor authorizes Beneficiary, at Beneficiary's option and in Beneficiary's reasonable discretion, as attorney-in-fact for Grantor, to commence, appear in and prosecute, in Beneficiary's or Grantor's name, any action or proceeding relating to any condemnation of the Trust Property, or any portion thereof, and to settle or compromise any claim in connection with such condemnation upon the occurrence and during the continuance of an Event of Default. If Beneficiary elects not to participate in such condemnation proceeding, then Grantor shall, at its expense, diligently prosecute any such proceeding and shall consult with Beneficiary, its attorneys and experts and cooperate with them in any defense of any such proceedings. All receive all awards and proceeds thereof to be held by Beneficiary as collateral to secure the payment and performance of condemnation shall be applied in the same manner as insurance proceedsIndebtedness and the Obligations. Notwithstanding the preceding sentence, and to the extent such awards and proceeds exceed $1,000,000 and provided no Event of Default shall have occurred and be continuing, Grantor shall, at its expense, diligently prosecute any proceeding relating to such condemnation, settle or compromise any claims in connection therewith and receive any awards or proceeds thereof, provided that if any such awards or proceeds thereof are received, then Grantor shall either (i) apply such proceeds promptly to repair and restore the Trust Property to its condition prior to such condemnation regardless of whether such award is sufficient to pay for the costs of such repair and restoration, or (ii) apply such proceeds shall be assigned to Beneficiary to be applied in any other manner that complies with Section 1022 of the same manner as insurance proceeds, as provided above in subsection 5(f)(iii) above, and Grantor agrees to execute any such assignments of all such awards as Beneficiary may requestIndenture.

Condemnation/Eminent Domain. Promptly Immediately upon obtaining knowledge of the institution of any proceedings for the condemnation of the Trust Property, or any portion thereof, Grantor will notify Beneficiary of the pendency of such proceedings. Beneficiary is hereby authorized and empowered by Grantor authorizes Beneficiary, at Beneficiary's option and in Beneficiary's reasonable discretion, as attorney-in-fact for Grantor, to commence, appear in and prosecute, in Beneficiary's or Grantor's name, any action or proceeding relating to any condemnation of the Trust Property, or any portion thereof, and to settle or compromise any claim in connection with such condemnation upon the occurrence and during the continuance of an Event of Default. If Beneficiary elects not to participate in such condemnation proceeding, then Grantor shall, at its expense, diligently prosecute any such proceeding and shall consult with Beneficiary, its attorneys and experts and cooperate with them in any defense of any such proceedings. All receive all awards and proceeds thereof to be held by Beneficiary as collateral to secure the payment and performance of condemnation shall be applied in the same manner as insurance proceedsIndebtedness and the Obligations. Notwithstanding the preceding sentence, and to the extent such awards and proceeds exceed $1,000,000 and provided no Event of Default shall have occurred and be continuing, Grantor shall, at its expense, diligently prosecute any proceeding relating to such condemnation, settle or compromise any claims in connection therewith and receive any awards or proceeds thereof, provided that, if any such awards or proceeds thereof are received, then Grantor shall either (i) apply such proceeds promptly to repair and restore the Trust Property to its condition prior to such condemnation, regardless of whether such award is sufficient to pay for the costs of such repair and restoration, or (ii) apply such proceeds shall be assigned to Beneficiary to be applied in any other manner that complies with Section 2.10 of the same manner as insurance proceeds, as provided above in subsection 5(f)(iii) above, and Grantor agrees to execute any such assignments of all such awards as Beneficiary may requestCredit Agreement.

Condemnation/Eminent Domain. Promptly upon obtaining knowledge of the institution of any proceedings for the condemnation of the Trust Property, or any portion thereof, Grantor will notify Beneficiary of the pendency of such proceedings. Grantor authorizes Beneficiary, at Beneficiary's option and in Beneficiary's reasonable discretion, as attorney-in-fact for Grantor, to commence, appear in and prosecute, in Beneficiary's or Grantor's name, any action or proceeding relating to any condemnation of the Trust Property, or any portion thereof, and to settle or compromise any claim in connection with such condemnation upon the occurrence and during the continuance of an Event of Default. If Beneficiary elects not to participate in such condemnation proceeding, then Grantor shall, at its expense, diligently prosecute any such proceeding and shall consult with Beneficiary, its attorneys and experts and cooperate with them in any defense of any such proceedings. All awards and proceeds of condemnation shall be applied in the same manner as insurance proceeds, and to the extent such awards and proceeds exceed $1,000,000 and no Event of Default shall have occurred and be continuing, such awards and proceeds shall be assigned to Beneficiary to be applied in the same manner as insurance proceeds, as provided above in subsection 5(f)(iii) above, and Grantor agrees to execute any such assignments of all such awards as Beneficiary may request.insurance

Condemnation/Eminent Domain. Promptly upon obtaining knowledge of the institution of any proceedings for the condemnation of the Trust Property, or any portion thereof, Grantor will notify Beneficiary of the pendency of such proceedings. Grantor authorizes Beneficiary, at Beneficiary's option and in Beneficiary's reasonable discretion, as attorney-in-fact for Grantor, to commence, appear in and prosecute, in Beneficiary's or Grantor's name, any action or proceeding relating to any condemnation of the Trust Property, or any portion thereof, and to settle or compromise any claim in connection with such condemnation upon the occurrence and during the continuance of an Event of Default. If Beneficiary elects not to participate in such condemnation proceeding, then Grantor shall, at its expense, diligently prosecute any such proceeding and shall consult with Beneficiary, its attorneys and experts and cooperate with them in any defense of any such proceedings. All awards and proceeds of condemnation shall be applied in the same manner as insurance proceeds, and to the extent such awards and proceeds exceed $1,000,000 and no Event of Default shall have occurred and be continuing, such awards and proceeds shall be assigned to Beneficiary to be applied in the same manner as insurance proceeds, as provided above in subsection 5(f)(iii) above, and Grantor agrees to execute any such assignments of all such awards as Beneficiary may request.and

Condemnation/Eminent Domain. Promptly upon obtaining knowledge of the institution of any proceedings for the condemnation of the Trust Property, or any portion thereof, Grantor will notify Beneficiary of the pendency of such proceedings. Grantor authorizes Beneficiary, at Beneficiary's option and in Beneficiary's reasonable discretion, as attorney-in-fact for Grantor, to commence, appear in and prosecute, in Beneficiary's or Grantor's name, any action or proceeding relating to any condemnation of the Trust Property, or any portion thereof, and to settle or compromise any claim in connection with such condemnation upon the occurrence and during the continuance of an Event of Default. If Beneficiary elects not to participate in such condemnation proceeding, then Grantor shall, at its expense, diligently prosecute any such proceeding and shall consult with Beneficiary, its 14 39 attorneys and experts and cooperate with them in any defense of any such proceedings. All awards and proceeds of condemnation shall be applied in the same manner as insurance proceeds, and to the extent such awards and proceeds exceed $1,000,000 and no Event of Default shall have occurred and be continuing, such awards and proceeds shall be assigned to Beneficiary to be applied in the same manner as insurance proceeds, as provided above in subsection 5(f)(iii) above, and Grantor agrees to execute any such assignments of all such awards as Beneficiary may request.

Condemnation/Eminent Domain. Promptly upon obtaining knowledge of the institution of any proceedings for the condemnation of the Trust Property, or any portion thereof, Grantor will notify Beneficiary of the pendency of such proceedings. Grantor authorizes Beneficiary, at Beneficiary's option and in Beneficiary's reasonable discretion, as attorney-in-fact for Grantor, to commence, appear in and prosecute, in Beneficiary's or Grantor's name, any action or proceeding relating to any condemnation of the Trust Property, or any portion thereof, and to settle or compromise any claim in connection with such condemnation upon the occurrence and during the continuance of an Event of Default. If Beneficiary elects not to participate in such condemnation proceeding, then Grantor shall, at its expense, diligently prosecute any such proceeding and shall consult with Beneficiary, its attorneys and experts and cooperate with them in any defense of any such proceedings. All awards and proceeds of condemnation shall be applied in the same manner as insurance proceeds, and to the extent such awards and proceeds exceed $1,000,000 and no Event of Default shall have occurred and be continuing, such awards and proceeds shall be assigned to Beneficiary to be applied in the same manner as insurance proceeds, as provided above in subsection 5(f)(iii) above, and Grantor agrees to execute any such assignments assignment of all such awards as Beneficiary may request.

Condemnation/Eminent Domain. Promptly upon obtaining knowledge of the institution of any proceedings for the condemnation of the Trust Property, or any portion thereof, Grantor will notify Beneficiary of the pendency of such proceedings. Grantor authorizes Beneficiary, at Beneficiary's option and in Beneficiary's reasonable discretion, as attorney-in-fact for on behalf of Grantor, to commence, appear in and prosecute, in Beneficiary's or Grantor's name, any action or proceeding relating to any condemnation of the Trust Property, or any portion thereof, and to settle or compromise any claim in connection with such condemnation upon the occurrence and during the continuance of an Event of Default. If Beneficiary elects not to participate in such condemnation proceeding, then Grantor shall, at its expense, diligently prosecute any such proceeding and shall consult with Beneficiary, its attorneys and experts and cooperate with them in any defense of any such proceedings. All awards and proceeds of condemnation shall be applied in the same manner as insurance proceeds, and to the extent such awards and proceeds exceed $1,000,000 and no Event of Default shall have occurred and be continuing, such awards and proceeds shall be assigned to Beneficiary to be applied in the same manner as insurance proceeds, as provided above in subsection 5(f)(iii) above, and Grantor agrees to execute any such assignments of all such awards as Beneficiary may request.