Payment of Taking Proceeds. If not already paid to Lessor or Lessor’s Lender as required by Section 16.3(b), above, upon completion of the repairs, restoration and replacement of the Leased Property damaged as a result of a Taking, Lessee shall pay to Lessor the amount by which such Taking Proceeds exceed the cost of repairs, restoration and replacement of the Leased Property by Lessee.
Appears in 4 contracts
Samples: Services Agreement (Arc Logistics Partners LP), Services Agreement (CorEnergy Infrastructure Trust, Inc.), Membership Interests Purchase Agreement (CorEnergy Infrastructure Trust, Inc.)
Payment of Taking Proceeds. If not already paid to Lessor or Lessor’s Lender as required by Section 16.3(b), above, upon completion of the repairs, restoration and replacement of the Leased Property damaged as a result of a Taking, Lessee shall pay to Lessor Lender (or the Agent for such Lessor Lender if requested in writing by Lessor) the amount by which such Taking Proceeds exceed the cost of repairs, restoration and replacement of the Leased Property by Lessee.
Appears in 2 contracts
Samples: Confidential Treatment (CorEnergy Infrastructure Trust, Inc.), Purchase and Sale Agreement (CorEnergy Infrastructure Trust, Inc.)
