Condemnation Powers Clause Samples
The Condemnation Powers clause defines the rights and procedures that apply if a property involved in the agreement is taken by the government through eminent domain or similar authority. Typically, this clause outlines how compensation for the condemned property will be handled, specifying whether the owner, tenant, or another party receives the proceeds and how the agreement may be adjusted or terminated as a result. Its core function is to allocate the risks and benefits associated with government seizure of property, ensuring all parties understand their rights and obligations in such an event.
Condemnation Powers. The Company has the right under Delaware law to exercise the power of eminent domain; in any proceeding pursuant to which the Company exercises its power of eminent domain, the compensation to be paid by the Company would be based only on the value of the property actually taken and would not include compensation for the value of improvements made by the Company to the property condemned.
Condemnation Powers. The municipality may exercise the power of emi nent domain in the manner provided by chapter 117, for the purpose of acquiring for itself or the private vendor any and all related facilities. If the related facilities are acquired for the private vendor, the service contract shall be for a term of at least five years.