Common use of Disbursement of Award Clause in Contracts

Disbursement of Award. Subject to the terms hereof, 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 such Hotel and any deficiency Tenant or Landlord, as applicable, has agreed to disburse, to 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 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 and Tenant’s obligation under this Section 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 Qualified Mortgage, and the release of such Award by the applicable Mortgagee. Tenant’s obligation to restore the applicable Hotel shall be subject to the release of the Award to Landlord by the applicable Mortgagee under a Qualified Mortgage.

Disbursement of Award. Subject to the terms hereof, Tenant or Landlord, as applicable, 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 such Hotel the taken Leased Improvements and any deficiency Tenant or Landlord, as applicable, Landlord has agreed to disburse, to Manager 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 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 and Tenant’s 's obligation under this Section 6.06 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 Qualified Hotel Mortgage, and the release of such Award by the applicable Hotel Mortgagee. Tenant’s 's obligation to restore the applicable Hotel Leased Property shall be subject to the release of the Award to Landlord by the applicable Hotel Mortgagee under a Qualified Mortgageto Landlord.

Disbursement of Award. Subject to the terms hereof, 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 such Hotel and any deficiency Tenant or Landlord, as applicable, has agreed to disburse, to 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, and (vii) such other certificates as Landlord may, from time to time, reasonably require. Landlord’s 's and Tenant’s 's obligation under this Section 6.06 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 Qualified Qualifying Mortgage, and the release of such Award by the applicable Mortgagee. Tenant’s 's obligation to restore the applicable Hotel shall be subject to the release of the Award to Landlord by the applicable Mortgagee under a Qualified Qualifying Mortgage.

Disbursement of Award. Subject to the terms hereof, 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 such the Hotel and any deficiency Tenant or Landlord, as applicable, has agreed to disburse, to 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 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 and Tenant’s obligation under this Section 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 Qualified Mortgage, and the release of such Award by the applicable Mortgagee. Tenant’s obligation to restore the applicable Hotel shall be subject to the release of the Award to Landlord by the applicable Mortgagee under a Qualified Mortgage.

Disbursement of Award. Subject to the terms hereof, 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 such Hotel and any deficiency Tenant or Landlord, as applicable, has agreed to disburse, to 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 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 and Tenant’s obligation under this Section 6.06 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 Qualified Mortgage, and the release of such Award by the applicable Mortgagee. Tenant’s obligation to restore the applicable Hotel shall be subject to the release of the Award to Landlord by the applicable Mortgagee under a Qualified Mortgage.

Disbursement of Award. Subject to the terms hereof, Tenant or Landlord, as applicable, Tenant and any Mortgagee shall contribute to the cost of restoration that transfer any part of the Award necessary to complete such repair or restorationreceived by them, respectively, together with severance and other damages awarded for such Hotel the taken Leased Improvements and any deficiency Landlord or Tenant or Landlord, as applicable, has agreed to disbursepay, to Manager regularly during the restoration period an escrow agent (“Escrow Agent”) reasonably satisfactory to all parties. Such amounts shall be advanced by Escrow Agent pursuant to Landlord’s, or Mortgagee’s (if any), instructions so as to permit payment for the cost of such repair or restorationany restoration and repair, pursuant to the same terms and conditions as are set forth in Section 10.1. 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 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 and Tenant’s obligation The obligations under this Section 6.06 10.3 to disburse the Award and such other amounts shall be subject to (xa) the collection thereof by Landlord and (yb) the satisfaction of any applicable requirements of any Qualified Mortgage, and the release of such Award by the applicable Mortgagee. Tenant’s obligation to restore the applicable Hotel Leased Property shall be subject to the release availability of the Award to Landlord by fund the applicable Mortgagee under a Qualified Mortgagecost of such repair or restoration upon its compliance with this Section 10.3. To the extent any provisions of this Article 10 shall conflict with any provisions regarding casualty to, and/or condemnation of, the Facility set forth in the Management Agreement, the parties hereto hereby acknowledge and agree that the express provisions set forth in the Management Agreement with respect to same shall control.