Common use of Disbursement of Award Clause in Contracts

Disbursement of Award. Subject to the terms hereof, Landlord shall contribute to the cost of restoration that part of the Award necessary to complete such repair or restoration, together with severance and other damages awarded for the taken Leased Improvements and any deficiency Landlord has agreed to disburse, to Tenant regularly during the restoration period so as to permit payment for the cost of such repair or restoration. Landlord may, at its option, condition advancement of such Award and other amounts on (i) the absence of any Event of Default, (ii) its approval of plans and specifications of an architect satisfactory to Landlord (which approval shall not be unreasonably withheld or delayed), (iii) general contractors' estimates, (iv) architect's certificates, (v) unconditional lien waivers of general contractors, if available, (vi) evidence of approval by all governmental authorities and other regulatory bodies whose approval is required and (vii) such other certificates as Landlord may, from time to time, reasonably require. Landlord's obligation under this Section 11.3 to disburse the Award and such other amounts shall be subject to (x) the collection thereof by Landlord and (y) the satisfaction of any applicable requirements of any Hotel Mortgage, and the release of such Award by the applicable Hotel Mortgagee. Tenant's obligation to restore the Leased Property shall be subject to the release of the Award by the applicable Hotel Mortgagee to Landlord.

Disbursement of Award. Subject to the terms hereof, Landlord Tenant or Landlord, as applicable, shall contribute to the cost of restoration that part of the Award necessary to complete such repair or restoration, together with severance and other damages awarded for the taken Leased Improvements such Hotel and any deficiency Landlord Tenant or Landlord, as applicable, has agreed to disburse, to Tenant Manager regularly during the restoration period so as to permit payment for the cost of such repair or restoration. Landlord may, at its option, condition advancement of such Award and other amounts on (i) the absence of any Manager Event of Default, (ii) its approval of plans and specifications of an architect satisfactory to Landlord (which approval shall not be unreasonably withheld or delayed), (iii) general contractors' ’ estimates, (iv) architect's ’s certificates, (v) unconditional lien waivers of general contractors, if available, (vi) evidence of approval by all governmental authorities and other regulatory bodies whose approval is required required, and (vii) such other certificates as Landlord may, from time to time, reasonably require. Landlord's ’s and Tenant’s obligation under this Section 11.3 6.06 to disburse the Award and such other amounts shall be subject to (x) the collection thereof by Landlord and (y) the satisfaction of any applicable requirements of any Hotel Qualified Mortgage, and the release of such Award by the applicable Hotel Mortgagee. Tenant's ’s obligation to restore the Leased Property applicable Hotel shall be subject to the release of the Award to Landlord by the applicable Hotel Mortgagee to Landlordunder a Qualified Mortgage.

Disbursement of Award. Subject to the terms hereof, Landlord Tenant or Landlord, as applicable, shall contribute to the cost of restoration that part of the Award necessary to complete such repair or restoration, together with severance and other damages awarded for the taken Leased Improvements such Hotel and any deficiency Landlord Tenant or Landlord, as applicable, has agreed to disburse, to Tenant Manager regularly during the restoration period so as to permit payment for the cost of such repair or restoration. Landlord may, at its option, condition advancement of such Award and other amounts on (i) the absence of any Event of Default, (ii) its approval of plans and specifications of an architect satisfactory to Landlord (which approval shall not be unreasonably withheld or delayed), (iii) general contractors' ’ estimates, (iv) architect's ’s certificates, (v) unconditional lien waivers of general contractors, if available, (vi) evidence of approval by all governmental authorities and other regulatory bodies whose approval is required required, and (vii) such other certificates as Landlord may, from time to time, reasonably require. Landlord's ’s and Tenant’s obligation under this Section 11.3 6.07 to disburse the Award and such other amounts shall be subject to (x) the collection thereof by Landlord and (y) the satisfaction of any applicable requirements of any Hotel Qualified Mortgage, and the release of such Award by the applicable Hotel Mortgagee. Tenant's ’s obligation to restore the Leased Property applicable Hotel shall be subject to the release of the Award to Landlord by the applicable Hotel Mortgagee to Landlordunder a Qualified Mortgage.

Disbursement of Award. Subject to the terms hereof, Landlord Tenant or Landlord, as applicable, shall contribute to the cost of restoration that part of the Award necessary to complete such repair or restoration, together with severance and other damages awarded for the taken Leased Improvements such Hotel and any deficiency Landlord Tenant or Landlord, as applicable, has agreed to disburse, to Tenant Manager regularly during the restoration period so as to permit payment for the cost of such repair or restoration. Landlord may, at its option, condition advancement of such Award and other amounts on (i) the absence of any Event of Default, (ii) its approval of plans and specifications of an architect satisfactory to Landlord (which approval shall not be unreasonably withheld or delayed), (iii) general contractors' estimates, (iv) architect's certificates, (v) unconditional lien waivers of general contractors, if available, (vi) evidence of approval by all governmental authorities and other regulatory bodies whose approval is required required, and (vii) such other certificates as Landlord may, from time to time, reasonably require. Landlord's and Tenant's obligation under this Section 11.3 6.07 to disburse the Award and such other amounts shall be subject to (x) the collection thereof by Landlord and (y) the satisfaction of any applicable requirements of any Hotel Qualifying Mortgage, and the release of such Award by the applicable Hotel Mortgagee. Tenant's obligation to restore the Leased Property applicable Hotel shall be subject to the release of the Award to Landlord by the applicable Hotel Mortgagee to Landlordunder a Qualifying Mortgage.

Disbursement of Award. Subject to the terms hereof, Landlord Tenant or Landlord, as applicable, shall contribute to the cost of restoration that part of the Award necessary to complete such repair or restoration, together with severance and other damages awarded for the taken Leased Improvements Hotel and any deficiency Landlord Tenant or Landlord, as applicable, has agreed to disburse, to Tenant Manager regularly during the restoration period so as to permit payment for the cost of such repair or restoration. Landlord may, at its option, condition advancement of such Award and other amounts on (i) the absence of any Manager Event of Default, (ii) its approval of plans and specifications of an architect satisfactory to Landlord (which approval shall not be unreasonably withheld or delayed), (iii) general contractors' ’ estimates, (iv) architect's ’s certificates, (v) unconditional lien waivers of general contractors, if available, (vi) evidence of approval by all governmental authorities and other regulatory bodies whose approval is required required, and (vii) such other certificates as Landlord may, from time to time, reasonably require. Landlord's ’s and Tenant’s obligation under this Section 11.3 6.06 to disburse the Award and such other amounts shall be subject to (x) the collection thereof by Landlord and (y) the satisfaction of any applicable requirements of any Hotel Qualified Mortgage, and the release of such Award by the applicable Hotel Mortgagee. Tenant's ’s obligation to restore the Leased Property Hotel shall be subject to the release of the Award to Landlord by the applicable Hotel Mortgagee to Landlordunder a Qualified Mortgage.