Disposition of Award. In the event of a Taking, each Party shall be entitled to share in the awards to the extent of its interest in the property subject to the Taking, and for consequential damages to and dilution of value of the relevant property not so Taken.
Disposition of Award. Upon such partial condemnation, all compensation and damages for such partial condemnation shall belong to and be the sole property of Lessor, and Lessee shall have no claim thereto and hereby irrevocably assigns and transfers to Lessor all right, title and interest Lessee may have to compensation for damages to which Lessee may become entitled thereby. Notwithstanding the foregoing, Lessee shall be entitled to receive any award made for the taking of or damage to Lessee's trade fixtures and any Improvements made by Lessee to the Leased Premises which Lessee would have had the right to remove on expiration or earlier termination of this Lease but for the condemnation.
Disposition of Award. All compensation awarded or paid upon any total or partial taking of the STP Property shall belong to and be the property of Xxxxxxxx except Buyer shall be entitled to any amount equal to the unamortized cost (depreciated on straight-line basis computed monthly) to Buyer of all leasehold improvements made by Buyer from and after the date hereof in that portion of the STP Property so taken. Notwithstanding the foregoing, nothing herein contained shall be construed to preclude Buyer from prosecuting a claim directly against the condeming authority for the value of stock, trade fixtures, furniture, equipment, machinery, and other personal property belonging to Buyer; provided, however, no such claim shall diminish or otherwise adversely affect Xxxxxxxx’ award. In the event of termination of this Lease under section 9.2, Buyer shall have no claim against Xxxxxxxx for the value of any unexpired term of this Lease and no right or claim to any part of the award of Xxxxxxxx on account thereof.
Disposition of Award. If there are any legal proceedings in connection with any taking referred to in this Section 7, each of the parties hereto shall make its own separate claim to the authority taking the Premises and each shall be entitled to a separate award or compensation granted to it as a result of prosecuting its claim. Both Lessor and Lessee shall retain whatever rights are permitted them by law to oppose such taking or conveyance. Lessee shall have the right to make a claim against the condemning authority, but not against Lessor, on account of interruption of Lessee’s business, moving and relocation expenses and for depreciation to and removal of Lessee’s trade fixtures.
Disposition of Award. If there are any legal proceedings in connection with any taking referred to in this paragraph, each of the parties hereto shall make its own separate claim to the authority taking the Premises and each shall be entitled the separate award or compensation granted to it as a result of prosecuting its claim. Both Lessor and Lessee shall retain whatever rights are permitted them by law to oppose such taking or conveyance.
Disposition of Award. All compensation or damages awarded or paid for any taking hereunder shall belong to and be the property of Landlord, whether such compensation or damages are awarded or paid as compensation for diminution in value of the leasehold, the fee or otherwise, except that Landlord shall not be entitled to any award made to Tenant for loss of business or the unamortized cost of Tenant’s stock, trade fixtures or leasehold improvements paid by Tenant. Tenant waives all right to any portion of the award belonging to Landlord hereunder, and grants to Landlord all of Tenant’s rights therein.
Disposition of Award. All compensation awarded or paid upon any total or partial taking of the Leased Property shall belong to and be the property of LESSOR except LESSEE shall be entitled to any amount equal to the unamortized cost (depreciated on straight-line basis computed monthly) to LESSEE of all leasehold improvements (other than leasehold improvements paid for out of insurance proceeds following a fire or other casualty made by LESSEE from and after date hereof in that portion of the Leased Property so taken). Notwithstanding the foregoing, nothing herein contained shall be construed to preclude LESSEE from prosecuting any claim directly against the condemning authority for loss of business, or depreciation to, damage to, or cost of removal of, or for the value of stock, trade fixtures, furniture, equipment, machinery, and other personal property belonging to LESSEE, provided, however, no such claim shall diminish or otherwise adversely affect LESSOR’S award. In the event of termination of this Agreement, LESSEE shall have no claim against LESSOR for the value of any unexpired term of this Agreement and no right or claim to any part of the award on account thereof.
Disposition of Award. Any award for the taking of all or part of the Phase III Easements Areas by Condemnation or any payment made under threat of Condemnation shall be the property of the City. However, the Phase III Cogeneration Facility Contractor shall be entitled to any award for the value of that portion of the Phase III Easements term taken and any award for lost profits. In addition, the Phase III Cogeneration Facility Contractor, or any third party authorized by the Phase III Cogeneration Facility Contractor to cause to be constructed the Phase III Cogeneration Facility, the Utility Interface and the Electrical Interconnection Equipment at such third party’s expense, as the case may be, shall be entitled to any award for loss or damage to the Phase III Cogeneration Facility, the Utility Interface, the Electrical Interconnection Equipment, trade fixtures and removable personal property, or alterations or modifications thereto. Nothing herein shall be deemed to be a waiver by the Phase III Cogeneration Facility Contractor of any claim it may have in any condemnation proceeding or related negotiation.
Disposition of Award. 17 ARTICLE 7 - DEFAULTS.................................................... 17 7.1 Events of Default......................................... 17 7.2 Right of Self Help........................................ 18 7.3 Interest.................................................. 18
Disposition of Award. In the event of a Total Taking or if the Lease is terminated as a result of a Substantial Taking, the award of compensation attributable to the Project shall be allocated as follows: If the Total Taking or Substantial Taking occurs during the Option Term, the award shall first be paid to Landlord in an amount equal to the Option Purchase Price for the Property that Tenant would pay if Tenant exercised the Option on the same date as the date the Taking occurs. The balance of the award shall be paid to Tenant as compensation for the value of the Improvements and any severance damages thereto and the value of Tenant’s leasehold interest. If the Total Taking or Substantial Taking occurs after the expiration of the Option Term, then the award shall first be paid to Landlord in an amount equal to the value of Landlord’s fee interest in the Property, but in no event less than an amount equal to the Option purchase Price for the last year of the Option Term, increased by four percent (4%) per annum for each year after the expiration of the Option Term until and including the year in which the Taking occurs. The balance of the award shall be paid to Tenant as compensation for the value of the Improvements, any severance damages thereto and the value of Tenant’s leasehold interest. Tenant shall have the right to apply for a separate award for Tenant’s goodwill and impairment of operation. In the event of a Partial Taking where the Lease remains in effect and Tenant is obligated to restore or repair the Improvements, then Tenant shall use that portion of the award attributable to the Improvements to restore the Improvements as provided in Section 12.5 above in accordance with plans and specifications approved in writing by Landlord which approval shall not be unreasonably withheld or delayed. In the event of a Partial Taking, the amount of the award attributable to the Improvements shall not include any portion of the award attributable to the unexpired Term as to the portion or all of the Property so taken, which amount shall be payable to Landlord. To the extent that said award for the Improvements exceeds the Cost of such restoration, repair or rebuilding, then such award shall belong to Tenant.
