Common use of Notice; Restoration Clause in Contracts

Notice; Restoration. Borrower shall promptly give Lender written notice of the actual or threatened commencement of any condemnation or eminent domain proceeding (a “Condemnation”) and shall deliver to Lender copies of any and all papers served in connection with such Condemnation. Following the occurrence of a Condemnation, Borrower, regardless of whether an Award (hereinafter defined) is available (unless Lender has breached its obligation (if any) to make such Award available pursuant to Section 7.4.1 below), shall promptly proceed to restore, repair, replace or rebuild (or cause Owner to promptly proceed to restore, repair, replace or rebuild) the same to the extent practicable to be of at least equal value and of substantially the same character as prior to such Condemnation (a “Condemnation Restoration”, together with a Casualty Restoration, collectively a “Restoration”), all to be effected in accordance with applicable law.

Notice; Restoration. Borrower shall promptly give Lender written notice of the actual or threatened commencement of any condemnation or eminent domain proceeding affecting the Property (a “"Condemnation”") and shall deliver to Lender copies of any and all papers served in connection with such Condemnation. Following the occurrence of a Condemnation, Borrowerif the Property is required by any Legal Requirement or any Lease (unless the tenant thereunder has waived in writing (in a form acceptable to Lender) its right to have the Property restored, repaired, replaced or rebuilt) to be restored, repaired, replaced or rebuilt, then Borrower shall, regardless of whether an Award (hereinafter defined) is available (unless Lender has breached its obligation (if any) to make such Award available pursuant to Section 7.4.1 below)available, shall promptly proceed to restore, repair, replace or rebuild (or cause Owner to promptly proceed to restore, repair, replace or rebuild) the same Property in accordance with Legal Requirements to the extent practicable to be of at least equal value and of substantially the same character (and to have the same utility) as prior to such Condemnation (a “Condemnation Restoration”, together with a Casualty Restoration, collectively a “Restoration”), all to be effected in accordance with applicable lawCondemnation.