Common use of Condemnation Payments Clause in Contracts

Condemnation Payments. In the event a Condemnation is to occur, you will pay us the fees set forth in Section 7 for a period of one year after we receive the initial notice of condemnation described in Section 11.3.2, or until the Condemnation occurs, whichever is longer. You will pay us Liquidated Damages equal to the average daily Royalties and Basic Reservation Charges for the one year period preceding the date of your condemnation notice to us multiplied by the number of days remaining in the one year notice period if the Condemnation is completed before the one year notice period expires. This payment will be made within 30 days after Condemnation is completed (when you close the Facility or you deliver it to the condemning authority). You will pay no Liquidated Damages if the Condemnation is completed after the one year notice period expires, but you must pay the fees set forth in Section 7 when due until Condemnation is completed.

Appears in 3 contracts

Samples: License Agreement (Hosp-Italia Industries Inc), License Agreement (Hosp-Italia Industries Inc), License Agreement (Hosp-Italia Industries Inc)

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Condemnation Payments. In the event a Condemnation is to occur, you will pay us the fees set forth in Section 7 for a period of one year six months after we receive the initial notice of condemnation described in Section 11.3.2, or until the Condemnation occurs, whichever is longer. You will pay us Liquidated Damages equal to the average daily Royalties and Basic Reservation Charges Recurring Fees for the one year six month period preceding the date of your condemnation notice to us multiplied by the number of days remaining in the one year six month notice period if the Condemnation is completed before the one year six month notice period expires. This payment will be made within 30 days after Condemnation is completed (when you close the Facility or you deliver it to the condemning authority). You will pay no Liquidated Damages if If the Condemnation is completed after the one year six month notice period expiresexpires you will pay no Liquidated Damages, but you must pay the fees set forth in Section 7 when due until Condemnation is completed.

Appears in 3 contracts

Samples: Franchise Agreement (Golden Opportunity Development Corp), Franchise Agreement (Golden Opportunity Development Corp), Franchise Agreement (Golden Opportunity Development Corp)

Condemnation Payments. In the event a Condemnation is to occur, you will pay us the fees set forth in Section 7 Recurring Fees for a period of one year after we receive the initial notice of condemnation described in Section 11.3.211.3, or until the Condemnation occurs, whichever is longer. You will pay us Liquidated Damages equal to the average daily Royalties and Basic Reservation Charges for the one year period preceding the date of your condemnation notice to us multiplied by the number of days remaining in the one year notice period if the Condemnation is completed before the one year notice period expires. This payment will be made within 30 days after Condemnation is completed (when you close the Facility or you deliver it to the condemning authority). You will pay no Liquidated Damages if the Condemnation is completed after the one year notice period expires, but you Recurring Fees must pay the fees set forth in Section 7 be paid when due until Condemnation is completed.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Janus Industries Inc)

Condemnation Payments. In the event a Condemnation is to occur, you will pay us the fees set forth in Section 7 for a period of one year after we receive the initial notice of condemnation described in Section 11.3.2, or until the Condemnation occurs, whichever is longer. You will pay us Liquidated Damages equal to the average daily Royalties and Basic Reservation Charges RINA Services Assessment Fees for the one year period preceding the date of your condemnation notice to us multiplied by the number of days remaining in the one year notice period if the Condemnation is completed before the one year notice period expires. This payment will be made within 30 days after Condemnation is completed (when you close the Facility or you deliver it to the condemning authority). You will pay no Liquidated Damages if the Condemnation is completed after the one year notice period expires, but you must pay the fees set forth in Section 7 must be paid when due until Condemnation is completed.

Appears in 1 contract

Samples: Credit Agreement (Chartwell Leisure Inc)

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Condemnation Payments. In the event a Condemnation is to occur, you will pay us the fees set forth in Section 7 for a period of one year after we receive the initial notice of condemnation described in Section 11.3.2, or until the Condemnation occurs, whichever is longer. You will pay us Liquidated Damages equal to the average daily Royalties and Basic Reservation Charges Recurring Fees for the one year period preceding the date of your condemnation notice to us multiplied by the number of days remaining in the one year notice period if the Condemnation is completed before the one year notice period expires. This payment will be made within 30 days after Condemnation is completed (when you close the Facility or you deliver it to the condemning authority). You will pay no Liquidated Damages if If the Condemnation is completed after the one year notice period expiresexpires you will pay no Liquidated Damages, but you must pay the fees set forth in Section 7 must be paid when due until Condemnation is completed.

Appears in 1 contract

Samples: License Agreement (American Wagering Inc)

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