Common use of Disposition of Awards Clause in Contracts

Disposition of Awards. All awards arising from a total or partial Taking of the Demised Premises, the Building, or of Tenant's leasehold interest, shall belong to Landlord without any participation by Tenant except if such Taking occurs during the period of time after Tenant has given notice to Landlord of its intention to exercise its option under Article X, in which case Tenant shall participate to the extent of the improvements made to the portion of the Premises subject to the Taking. Tenant hereby assigns to Landlord any share of such Award which may be awarded to Tenant.

Appears in 1 contract

Samples: Sublease Agreement (United Auto Group Inc)

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Disposition of Awards. All awards arising from a total or partial Taking taking of the Demised Premises, the Buildingof Tenants leasehold estate, or of Tenant's leasehold interest, a taking for temporary use shall belong to and be the property of Landlord without any participation by Tenant except if such Taking occurs during the period of time after Tenant has given notice to Landlord of its intention to exercise its option under Article X, in which case Tenant shall participate to the extent of the improvements made to the portion of the Premises subject to the TakingTenant. Tenant hereby assigns to Landlord any share of any such Award which may award that might otherwise be awarded payable to Tenant.

Appears in 1 contract

Samples: Office Lease Agreement (Bionumerik Pharmaceuticals Inc)

Disposition of Awards. All awards arising from a total or partial Taking of the Demised Premises, the Building, or of Tenant's leasehold interest, shall belong to Landlord without any participation by Tenant except if such Taking occurs during the period of time after Tenant has given notice to Landlord of its intention to exercise its option under Article X, in which case Tenant shall participate to the extent of the improvements made to the portion of the Premises subject to the TakingTenant. Tenant hereby assigns to Landlord any share of such Award which may be awarded to Tenant.

Appears in 1 contract

Samples: Lease Agreement (American Drug Co)

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Disposition of Awards. All awards arising from a total or partial Taking taking of the Demised Premises, the Building, or of Tenant's leasehold interestestate, or a taking for temporary use shall belong to and be the property of Landlord without any participation by Tenant except if such Taking occurs during the period of time after Tenant has given notice to Landlord of its intention to exercise its option under Article X, in which case Tenant shall participate to the extent of the improvements made to the portion of the Premises subject to the TakingTenant. Tenant hereby assigns to Landlord any share of any such Award which may award that might otherwise be awarded payable to Tenant.. Tenant hereby waives any rights it may have with respect to the loss of its leasehold estate pursuant to this Lease and the Premises as a result of ARTICLE XI

Appears in 1 contract

Samples: Office Lease Agreement (Worldport Communications Inc)

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