Common use of Effect of Damage, Destruction or Condemnation Clause in Contracts

Effect of Damage, Destruction or Condemnation. Unless the Bonds shall have been called for redemption and the Company shall prepay Lease Payments pursuant to the provisions of Section 10.2(a) or (b), in the event that the Facilities are damaged or destroyed in whole or in part, or title to or the temporary use of the Facilities or any part thereof is condemned or taken under the exercise of the power of eminent domain, the Company shall be obligated to continue to make all payments due under Section 5.2, including Lease Payments and payment for any Optional Tender Purchase or Mandatory Purchase in accordance with Section 5.9. (Remainder of this page intentionally left blank.)

Appears in 4 contracts

Samples: Lease Agreement (Nb Finance Corp), Lease Agreement (Nb Finance Corp), Lease Agreement (Nb Finance Corp)

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Effect of Damage, Destruction or Condemnation. Unless all of the Bonds shall have been called for redemption and the Company shall prepay Lease Basic Payments pursuant to the provisions of Section 10.2(a) or (b), in the event that the Facilities Projects are damaged or destroyed in whole or in part, or title to or the temporary use of the Facilities Projects or any part thereof is condemned or taken under the exercise of the power of eminent domain, the Company shall be obligated to continue to make all payments due under Section 5.2, including Lease Basic Payments and payment for any Optional Tender Purchase or Mandatory Purchase in accordance with Section 5.9. (Remainder of this page intentionally left blank.)

Appears in 1 contract

Samples: Loan Agreement (Minn Dak Farmers Cooperative)

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Effect of Damage, Destruction or Condemnation. Unless the Bonds shall have been called for redemption and the Company shall prepay Lease Payments pursuant to the provisions of Section 10.2(a) or (b), in the event that the Facilities are damaged or destroyed in whole or in part, or title to or the temporary use of the Facilities or any part thereof is condemned or taken under the exercise of the power of eminent domain, the Company shall be obligated to continue to make all payments due under Section 5.2, including Lease Payments and payment for any Optional Tender Purchase or Mandatory Purchase in accordance with Section 5.9. (Remainder of this page intentionally left blank.)ARTICLE VII

Appears in 1 contract

Samples: Lease Agreement (FCStone Group, Inc.)

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