Common use of Conduct of Proceedings Clause in Contracts

Conduct of Proceedings. Subject to the rights of Landlord and any Leasehold Mortgagee to participate therein, Tenant and Landlord shall jointly commence, appear in and prosecute any action or proceeding involving a Taking of the Premises, or any part thereof or interest therein, by condemnation or under the power of eminent domain, or otherwise and shall jointly make any compromise or settlement in connection therewith. If the parties disagree concerning such action or proceeding and there shall exist an Event of Default under this Lease, Landlord shall be entitled at its option to commence, appear in and prosecute on its own and in its own name any such action or proceeding and Landlord shall also be entitled to make on its own any compromise or settlement in connection therewith, subject to the rights of Landlord and any Leasehold Mortgagees to participate therein.

Conduct of Proceedings. Subject to the rights of Landlord and any Leasehold Mortgagee Mortgagees to participate therein, Tenant and Landlord shall jointly commence, appear in and prosecute any action or proceeding involving a Taking of the Premises, or any part thereof or interest therein, by condemnation or under the power of eminent domain, or otherwise and shall jointly make any compromise or settlement in connection therewith. If the parties Parties disagree concerning such action or proceeding and there shall exist an Event of Default under this LeaseDefault, Landlord shall be entitled at its option to commence, appear in and prosecute on its own and in its own name any such action or proceeding proceeding, and Landlord shall also be entitled to make on its own any compromise or settlement in connection therewith, subject to the rights of Landlord and any Leasehold Mortgagees to participate therein.