Excess Proceeds Upon Termination Sample Clauses

Excess Proceeds Upon Termination. In the event this Lease shall be terminated pursuant to the provisions of Section 18.4.1, Casualty Proceeds shall be paid to Landlord and held in trust by Landlord, and such Casualty Proceeds shall be payable to, and shall be applied as follows and in this order: (i) to Tenant or Landlord, as applicable, to pay for the reasonable costs of razing the Project Improvements and clearing the Land of debris in accordance with this Lease and all Applicable Law, to the extent either Landlord or Tenant actually does perform such work, (ii) to Landlord, to pay any outstanding Rent (and establishing a reserve to pay any that cannot then be determined), (iii) to Landlord, to pay to release from the Leased Premises and from any interest of Landlord hereunder any Mechanic’s Liens caused by Tenant or arising out of work performed with respect to the Leased Premises by, or in satisfaction of any obligation of, Tenant hereunder, (iv) to a Permitted Project Financing Holder, any outstanding amounts due under any Permitted Project Financing, (v) to Tenant, one hundred percent (100%) of the insurable replacement cost value of the Personal Property, and (vi) the remainder to Tenant.
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Excess Proceeds Upon Termination. If this Lease shall be terminated pursuant to the provisions of Section 18.4.1, Casualty Proceeds shall be paid to Landlord and held in trust by Landlord, and such Casualty Proceeds shall be payable to, and shall be applied as follows and in this order: (a) to pay outstanding Permitted Project Financing and any other Debt (as required by the applicable loan documents) of and other investments by Tenant and its Affiliates to pay for construction of the Improvements, (b) to Tenant, to pay for the costs of razing the Project Improvements and clearing the Land of debris in accordance with this Lease and all Applicable Laws, if requested to do so by Landlord and not previously paid to Tenant, (c) to Landlord, to pay any outstanding Rent (and establishing a reserve to pay any that cannot then be determined) and any other obligations of Tenant to Landlord under this Lease, (d) to Landlord, to pay to release from the Leased Premises and from any interest of Landlord hereunder any Mechanic’s Liens and any other Encumbrances caused by Tenant or arising out of work performed with respect to the Leased Premises by, or in satisfaction of any obligation of, Tenant hereunder, (e) to Tenant, one hundred percent (100%) of the insurable replacement cost value of the Personal Property, and (f) to Landlord.
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Related to Excess Proceeds Upon Termination

  • Withdrawals upon Termination 31.4.1 Notwithstanding anything to the contrary contained in this Agreement, all amounts standing to the credit of the Escrow Account shall, upon Termination, be appropriated in the following order:

  • Payments Upon Termination 4.1 The Customer shall pay the Company liquidated damages (total monthly fee as specified in the Sales and Services Agreement x remaining months in the Term) upon the occurrence of any of the following events before the expiry of the Term:

  • Recovery upon Termination H6.1 On the termination of the Contract for any reason, the Contractor shall at its cost:

  • Payment upon Termination In the event that the City or Consultant terminates this Agreement pursuant to Section 8, the City shall compensate the Consultant for all outstanding costs and reimbursable expenses incurred for work satisfactorily completed as of the date of written notice of termination. Consultant shall maintain adequate logs and timesheets in order to verify costs incurred to that date. The City shall have no obligation to compensate Consultant for work not verified by logs or timesheets.

  • Obligations Upon Termination Upon termination of this Agreement, either party shall, at the request of the other party, return any document, material, database, equipment, or software containing the Confidential Information to the other party. If, for any reason, such document, material, database, equipment, or software cannot be returned, either party shall destroy all the Confidential Information belonging to the other party and delete such Confidential Information from any memory devices. No party shall be permitted to continue using the Confidential Information in any way after the termination of this Agreement.

  • Winding Up Affairs Upon Termination In the event that this Contract is terminated for any reason, the parties agree that the provisions of this paragraph survive termination:

  • Actions upon Termination In the event of termination not the fault of the Contractor, the Contractor shall be paid for the services properly performed prior to termination, together with any reimbursable expenses then due, but in no event shall such compensation exceed the maximum compensation to be paid under the Contract. The Contractor agrees that this payment shall fully and adequately compensate the Contractor and all subcontractors for all profits, costs, expenses, losses, liabilities, damages, taxes, and charges of any kind whatsoever (whether foreseen or unforeseen) attributable to the termination of this Contract. Upon termination for any reason, the Contractor shall provide Seattle with the most current design documents, contract documents, writings and other product it has completed to the date of termination, along with copies of all project-related correspondence and similar items. Seattle shall have the same rights to use these materials as if termination had not occurred.

  • Action Upon Termination (a) From and after the effective date of termination of this Agreement, pursuant to Sections 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13 or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith:

  • Liability Upon Termination Termination of this Agreement, or any part hereof, for any cause shall not release either Party from any liability which at the time of termination had already accrued to the other Party or which thereafter accrues in any respect to any act or omission occurring prior to the termination or from an obligation which is expressly stated in this Agreement to survive termination.

  • Rights Upon Termination Except as expressly provided in Section 6, upon the termination of the Executive’s Employment pursuant to this Section 5, the Executive shall only be entitled to the compensation, benefits and reimbursements described in Sections 2, 3 and 4 for the period preceding the effective date of the termination. The payments under this Agreement shall fully discharge all responsibilities of the Company to the Executive.

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