Common use of Prosecution of Awards Clause in Contracts

Prosecution of Awards. (a) If any Condemnation shall occur, the party receiving the notice of such Condemnation shall give to the other party and the Agent promptly, but in any event within thirty (30) days after the occurrence thereof, written notice of such occurrence and the date thereof, generally describing the nature and extent of such Condemnation. With respect to any Event of Taking or any Condemnation, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are required, under Section 10.6, to be assigned or released to such Lessee, unless an Event of Default shall have occurred and be continuing, in which case (i) the Agent (or Lessor if the Loans have been fully paid) shall control such negotiations; and (ii) such Lessee hereby irrevocably assigns, transfers and sets over to Lessor all rights of such Lessee to any Award on account of any Event of Taking or any Condemnation and, if there will not be separate Awards to Lessor and such Lessee on account of such Event of Taking or Condemnation, irrevocably authorizes and empowers the Agent (or Lessor if the Loans have been fully paid) during the continuance of an Event of Default, with full power of substitution, in the name of such Lessee or otherwise (but without limiting the obligations of such Lessee under this Article X), to file and prosecute what would otherwise be such Lessee's claim for any such Award and to collect, receipt for and retain the same. In any event Lessor and the Agent may participate in such negotiations, and no settlement will be made without the prior consent of the Agent (or Lessor if the Loans have been fully paid), not to be unreasonably withheld.

Appears in 3 contracts

Samples: Lease Agreement (Dollar Tree Stores Inc), Master Lease Agreement (Choicepoint Inc), Master Lease Agreement (Choicepoint Inc)

AutoNDA by SimpleDocs

Prosecution of Awards. (a) If If, during the continuance of any Event of Default, any Condemnation shall occur, the party receiving the notice of such Condemnation Lessee shall give to the other party Lessor and the Agent promptly, but in any event within thirty (30) days after the occurrence thereof, written notice of such occurrence and the date thereof, generally describing the nature and extent of such Condemnation. With respect to any Event of Taking or any Condemnation, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are required, under Section 10.6, to be assigned or released to such Lessee, unless an Event of Default shall have occurred and be continuing, in which case (i1) the Agent (or Lessor if the Loans have been fully paid) shall control such negotiations; and (ii2) such Lessee hereby irrevocably assigns, transfers and sets over to Lessor all rights of such Lessee to any Award made during the continuance of an Event of Default on account of any Event of Taking or any Condemnation and, if there will not be separate Awards to Lessor and such Lessee on account of such Event of Taking or Condemnation, irrevocably authorizes and empowers the Agent (or Lessor if the Loans have been fully paid) during the continuance of an Event of Default, with full power of substitution, in the name of such Lessee or otherwise (but without limiting the obligations of such Lessee under this Article X), to file and prosecute what would otherwise be such Lessee's claim for any such Award and to collect, receipt for and retain the same. In ; provided, however, that in any event Lessor and the Agent may participate in such negotiations, and no settlement will be made without the prior consent of the Agent (or Lessor if the Loans have been fully paid), not to be unreasonably withheld.

Appears in 3 contracts

Samples: Master Agreement (Ruby Tuesday Inc), Master Agreement (Ruby Tuesday Inc), Master Agreement (Ruby Tuesday Inc)

Prosecution of Awards. (a) If If, during the continuance of any Event of Default, any Condemnation shall occur, the party receiving the notice of such Condemnation Lessee shall give to the other party Lessor and the Agent promptly, but in any event within thirty (30) days after the occurrence thereof, written notice of such occurrence and the date thereof, generally describing the nature and extent of such Condemnation. With respect to any Event of Taking or any Condemnation, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are required, under Section 10.6, to be assigned or released to such Lessee, unless an Event of Default shall have occurred and be continuing, in which case (i1) the Agent (or Lessor if the Loans Funded Amounts have been fully paid) shall control such negotiations; and (ii2) such Lessee hereby irrevocably assigns, transfers and sets over to Lessor all rights of such Lessee to any Award made during the continuance of an Event of Default on account of any Event of Taking or any Condemnation and, if there will not be separate Awards to Lessor and such Lessee on account of such Event of Taking or Condemnation, irrevocably authorizes and empowers the Agent (or Lessor if the Loans Funded Amounts have been fully paid) during the continuance of an Event of Default, with full power of substitution, in the name of such Lessee or otherwise (but without limiting the obligations of such Lessee under this Article X), to file and prosecute what would otherwise be such Lessee's claim for any such Award and to collect, receipt for and retain the same. In ; provided, however, that in any event Lessor and the Agent may participate in such negotiations, and no settlement will be made without the prior consent of the Agent (or Lessor if the Loans Funded Amounts have been fully paid), not to be unreasonably withheld.

Appears in 2 contracts

Samples: Lease Agreement (Richfood Holdings Inc), Lease Participation Agreement (Aaron Rents Inc)

Prosecution of Awards. (a) If If, during the continuance of any Event of Default, any Condemnation shall occur, the party receiving the notice of such Condemnation Lessee shall give to the other party Lessor and the Agent Lender promptly, but in any event within thirty sixty (3060) days after the occurrence thereofof such Condemnation, written notice of such occurrence and the date thereof, generally describing the nature and extent of such Condemnation. With respect to any Event of Taking or any Condemnation, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are required, under Section 10.611.6, to be assigned or released to such Lessee; provided, unless an however, that if Event of Default shall have occurred and be continuing, in which case (i) the Agent (or continuing Lessor if the Loans have been fully paid) shall control such negotiations; and (ii) such . Lessee hereby irrevocably assigns, transfers and sets over to Lessor all rights of such Lessee to any Award made during the continuance of an Event of Default on account of any Event of Taking or any Condemnation and, if there will not be separate Awards to the Lessor and such the Lessee on account of such Event of Taking or Condemnation, irrevocably authorizes and empowers the Agent (or Lessor if the Loans have been fully paid) during the continuance of an Event of Default, with full power of substitution, substitution in the name of such Lessee or otherwise (but without limiting the obligations of such Lessee under this Article XArticle), to file and prosecute what would otherwise be such Lessee's claim for any such Award and and, in the case of Lessor, to collect, receipt for and retain the same. In ; provided, however, that in any event Lessor and the Agent may participate in any such negotiations, and no settlement will be made without the Lessor's prior consent of the Agent (or Lessor if the Loans have been fully paid)consent, not to be unreasonably withheldwithheld or delayed.

Appears in 2 contracts

Samples: Lease and Development Agreement (Eagle Usa Airfreight Inc), Lease and Development Agreement (Huffy Corp)

Prosecution of Awards. (a) If any Condemnation shall occur, the party receiving the notice of such Condemnation shall give to the other party and the Agent promptly, but in any event within thirty (30) days after the occurrence thereof, written notice of such occurrence and the date thereof, generally describing the nature and extent of such Condemnation. With respect to any Event of Taking or any Condemnation, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are required, under Section 10.6, to be assigned or released to such Lessee, unless an Event of Default shall have occurred and be continuing, in which case (i) the Agent (or Lessor if the Loans have been fully paid) shall control such negotiations; and (ii) such Lessee hereby irrevocably assigns, transfers and sets over to Lessor all rights of such Lessee to any Award on account of any Event of Taking or any Condemnation and, if there will not be separate Awards to Lessor and such Lessee on account of such Event of Taking or Condemnation, irrevocably authorizes and empowers the Agent (or Lessor if the Loans have been fully paid) during the continuance of an Event of Default, with full power of substitution, in the name of such Lessee or otherwise (but without limiting the obligations of such Lessee under this Article X), to file and prosecute what would otherwise be such Lessee's claim for any such Award and to collect, receipt for and retain the same. In any event Lessor and the Agent may participate in such negotiations, and and, if such settlement is with respect to a material Condemnation or if the Lessor or the Agent has provided notice to the Lessee that it shall not enter into any settlement without prior consent, no settlement will be made without the prior consent of the Agent (or Lessor if the Loans have been fully paid), not to be unreasonably withheld.

Appears in 1 contract

Samples: Master Lease Agreement (Borders Group Inc)

Prosecution of Awards. (a) If If, during the continuance of any Event of Default, any Condemnation shall occur, the party receiving the notice of such Condemnation Lessee shall give to Lessor, the other party Partners, and the Administrative Agent promptly, but in any event within thirty ten (301 0) days after the occurrence thereof, written notice of such occurrence and the date thereof, generally describing the nature and extent of such Condemnation. With respect to any Event of Taking or any Condemnation, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are required, under Section 10.6, to be assigned or released to such Lessee, unless an Event of Default shall have occurred and be continuing, in which case (i1) the Administrative Agent (or Lessor if the Loans Funded Amounts have been fully paid) shall control such negotiations; and (ii2) such Lessee hereby irrevocably assigns, transfers and sets over to Lessor all rights of such Lessee to any Award on account made during the continuance of any an Event of Taking or any Condemnation Default and, if there will not be separate Awards to Lessor and such Lessee on account of such Event of Taking or Condemnation, irrevocably authorizes and empowers the Administrative Agent (or Lessor if the Loans Funded Amounts have been fully paid) during the continuance of an Event of Default, with full power of substitution, in the name of such Lessee or otherwise (but without limiting the obligations of such Lessee under this Article X), to file and prosecute what would otherwise be such Lessee's claim for any such Award and to collect, receipt for and retain the same. In ; provided, however, that in any event Lessor and the Administrative Agent may participate in such negotiations, and no settlement will be made without the prior consent of the Administrative Agent (or Lessor if the Loans Funded Amounts have been fully paid), not to be unreasonably withheld.

Appears in 1 contract

Samples: Indenture of Lease (Gtech Holdings Corp)

Prosecution of Awards. (a) If If, during the continuance of any Event of Default, any Condemnation shall occur, the party receiving the notice of such Condemnation Lessee shall give to the other party Lessor and the Agent Lender promptly, but in any event within thirty sixty (3060) days after the occurrence thereofof such Condemnation, written notice of such occurrence and the date thereof, generally describing the nature and extent of such Condemnation. With respect to any Event of Taking or any Condemnation, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are required, under Section 10.6SECTION 11.6, to be assigned or released to such Lessee; PROVIDED, unless an HOWEVER, that if Event of Default shall have occurred and be continuing, in which case (i) the Agent (or continuing Lessor if the Loans have been fully paid) shall control such negotiations; and (ii) such . Lessee hereby irrevocably assigns, transfers and sets over to Lessor all rights of such Lessee to any Award made during the continuance of an Event of Default on account of any Event of Taking or any Condemnation and, if there will not be separate Awards to the Lessor and such the Lessee on account of such Event of Taking or Condemnation, irrevocably authorizes and empowers the Agent (or Lessor if the Loans have been fully paid) during the continuance of an Event of Default, with full power of substitution, substitution in the name of such Lessee or otherwise (but without limiting the obligations of such Lessee under this Article XArticle), to file and prosecute what would otherwise be such Lessee's claim for any such Award and and, in the case of Lessor, to collect, receipt for and retain the same. In ; PROVIDED, HOWEVER, that in any event Lessor and the Agent may participate in any such negotiations, and no settlement will be made without the Lessor's prior consent of the Agent (or Lessor if the Loans have been fully paid)consent, not to be unreasonably withheldwithheld or delayed.

Appears in 1 contract

Samples: Lease and Development Agreement (STB Systems Inc)

Prosecution of Awards. (a) If any Condemnation shall --------------------- occur, the party receiving the notice of such Condemnation shall give to the other party and the Agent promptly, but in any event within thirty (30) days after the occurrence thereof, written notice of such occurrence and the date thereof, generally describing the nature and extent of such Condemnation. With respect to any Event of Taking or any Condemnation, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are required, under Section 10.6, to be ------------ assigned or released to such Lessee, unless an Event of Default shall have occurred and be continuing, in which case (i) the Agent (or Lessor if the Loans have been fully paid) shall control such negotiations; and (ii) such Lessee hereby irrevocably assigns, transfers and sets over to Lessor all rights of such Lessee to any Award on account of any Event of Taking or any Condemnation and, if there will not be separate Awards to Lessor and such Lessee on account of such Event of Taking or Condemnation, irrevocably authorizes and empowers the Agent (or Lessor if the Loans have been fully paid) during the continuance of an Event of Default, with full power of substitution, in the name of such Lessee or otherwise (but without limiting the obligations of such Lessee under this Article X), to file and prosecute what would otherwise be such Lessee's claim for any such Award and to collect, receipt for and retain the same. In any event Lessor and the Agent may participate in such negotiations, and no settlement will be made without the prior consent of the Agent (or Lessor if the Loans have been fully paid), not to be unreasonably withheld.this

Appears in 1 contract

Samples: Lease Agreement (Hughes Supply Inc)

Prosecution of Awards. (a) If any Condemnation shall occur, the party receiving the notice of such Condemnation shall give to the other party and the Agent promptly, but in any event within thirty (30) days after the occurrence thereof, written notice of such occurrence and the date thereof, generally describing the nature and extent of such Condemnation. With respect to any Event of Taking or any Condemnation, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are required, under Section 10.6, to be assigned or released to such Lessee, unless an Event of Default shall have occurred and be continuing, in which case (i) the Agent (or Lessor if the Loans have been fully paid) shall control such negotiations; and (ii) such Lessee hereby irrevocably assigns, transfers and sets over to Lessor all rights of such Lessee to any Award on account of any Event of Taking or any Condemnation and, if there will not be separate Awards to Lessor and such Lessee on account of such Event of Taking or Condemnation, irrevocably authorizes and empowers the Agent (or Lessor if the Loans have been fully paid) during the continuance of an Event of Default, with full power of substitution, in the name of such Lessee or otherwise (but without limiting the obligations of such Lessee under this Article X), to file and prosecute what would otherwise be such Lessee's claim for any such Award and to collect, receipt for and retain the same. In any event Lessor and the Agent may participate in such negotiations, and no settlement will be made without the prior consent of the Agent (or Lessor if the Loans have been fully paid), not to be unreasonably withheld.

Appears in 1 contract

Samples: Master Lease Agreement (Dollar General Corp)

Prosecution of Awards. (a) If If, during the continuance of any Event of Default, any Condemnation shall occur, the party receiving the notice of such Condemnation Lessee shall give to the other party Lessor and the Agent Lender promptly, but in any event within thirty sixty (3060) days after the occurrence thereofof such Condemnation, written notice of such occurrence and the date thereof, generally describing the nature and extent of such Condemnation. With respect to any Event of Taking or any Condemnation, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are required, under Section 10.611.6, to be assigned or released to such Lessee; provided, unless however, that if an Event of Default shall have occurred and be continuing, in which case (i) the Agent (or continuing Lessor if the Loans have been fully paid) shall control such negotiations; and (ii) such . Lessee hereby irrevocably assigns, transfers and sets over to Lessor all rights of such Lessee to any Award made during the continuance of an Event of Default on account of any Event of Taking or any Condemnation and, if there will not be separate Awards to the Lessor and such the Lessee on account of such Event of Taking or Condemnation, irrevocably authorizes and empowers the Agent (or Lessor if the Loans have been fully paid) during the continuance of an Event of Default, with full power of substitution, substitution in the name of such Lessee or otherwise (but without limiting the obligations of such Lessee under this Article XArticle), to file and prosecute what would otherwise be such Lessee's claim for any such Award and and, in the case of Lessor, to collect, receipt for and retain the same. In ; provided, however, that in any event Lessor and the Agent may participate in such negotiations, and no settlement will be made without the prior consent of the Agent (or Lessor if the Loans have been fully paid), not to be unreasonably withheld.participate

Appears in 1 contract

Samples: Master Lease and Development Agreement (Eagle Usa Airfreight Inc)

Prosecution of Awards. (a) If any Condemnation shall occur, the party receiving the notice of such Condemnation shall give to the other party and the Agent promptly, but in any event within thirty (30) days after the occurrence thereof, written notice of such occurrence and the date thereof, generally describing the nature and extent of such Condemnation. With respect to any Event of Taking or any Condemnation, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are required, under Section ------- 10.6, to be assigned or released to such the Lessee, unless an a Potential Event ---- of Default or Event of Default shall have occurred and be continuingoccurred, in which case (i) the Agent (or the Lessor if the Loans have been fully paid) shall control such negotiations; and (ii) such the Lessee hereby irrevocably assigns, transfers and sets over to the Agent (or the Lessor if the loans have been fully paid) all rights of such the Lessee to any Award on account of any Event of Taking or any Condemnation and, if there will not be separate Awards to the Lessor and such the Lessee on account of such Event of Taking or Condemnation, irrevocably authorizes and empowers the Agent (or the Lessor if the Loans have been fully paid) during the continuance of an Event of Default), with full power of substitution, in the name of such the Lessee or otherwise (but without limiting the obligations of such the Lessee under this Article X), to file --------- and prosecute what would otherwise be such the Lessee's claim for any such Award and to collect, receipt for and retain the same. In any event the Lessor and the Agent may participate in such negotiations, and no settlement will be made without the prior consent of the Agent (or the Lessor if the Loans have been fully paid), not to be unreasonably withheld.

Appears in 1 contract

Samples: Master Lease Agreement (Jones Financial Companies Lp LLP)

Prosecution of Awards. (a) If any Condemnation shall occur, the party receiving the notice of such Condemnation shall give to the other party and the Agent promptly, but in any event within thirty (30) days after the occurrence thereof, written notice of such occurrence and the date thereof, generally describing the nature and extent of such Condemnation. With respect to any Event of Taking or any Condemnation, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are required, under Section 10.6, to be assigned or released to such Lessee, unless an Event of Default shall have occurred and be continuing, in which case (i) the Agent (or Lessor if the Loans have been fully paid) shall control such negotiations; and (ii) such Lessee hereby irrevocably assigns, transfers and sets over to Lessor all rights of such Lessee to any Award on account of any Event of Taking or any Condemnation and, if there will not be separate Awards to Lessor and such Lessee on account of such Event of Taking or Condemnation, irrevocably authorizes and empowers the Agent (or Lessor if the Loans have been fully paid) during the continuance of an Event of Default, with full power of substitution, in the name of such Lessee or otherwise (but without limiting the obligations of such Lessee under this Article X), to file and prosecute what would otherwise be such Lessee's ’s claim for any such Award and to collect, receipt for and retain the same. The agency and power of the Agent (or of the Lessor if the Loans have been fully paid) as attorney-in-fact hereunder are coupled with an interest, and cannot be revoked by bankruptcy, insolvency, incompetency, death, dissolution or otherwise. In any event Lessor and the Agent may participate in such negotiations, and no settlement will be made without the prior consent of the Agent (or Lessor if the Loans have been fully paid), not to be unreasonably withheld.

Appears in 1 contract

Samples: Master Lease Agreement (Concord Efs Inc)

Prosecution of Awards. (a) If any Condemnation shall occur, --------------------- the party receiving the notice of such Condemnation shall give to the other party and the Agent promptly, but in any event within thirty (30) days after the occurrence thereof, written notice of such occurrence and the date thereof, generally describing the nature and extent of such Condemnation. With respect to any Event of Taking or any Condemnation, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are required, under Section 10.6, to be assigned or ------------ released to such Lessee, unless an Event of Default shall have occurred and be continuing, in which case (i) the Agent (or Lessor if the Loans have been fully paid) shall control such negotiations; and (ii) such Lessee hereby irrevocably assigns, transfers and sets over to Lessor all rights of such Lessee to any Award on account of any Event of Taking or any Condemnation and, if there will not be separate Awards to Lessor and such Lessee on account of such Event of Taking or Condemnation, irrevocably authorizes and empowers the Agent (or Lessor if the Loans have been fully paid) during the continuance of an Event of Default, with full power of substitution, in the name of such Lessee or otherwise (but without limiting the obligations of such Lessee under this Article X), to file and prosecute what would otherwise be such Lessee's claim --------- for any such Award and to collect, receipt for and retain the same. In any event Lessor and the Agent may participate in such negotiations, and no settlement will be made without the prior consent of the Agent (or Lessor if the Loans have been fully paid), not to be unreasonably withheld.

Appears in 1 contract

Samples: Master Lease Agreement (Hughes Supply Inc)

AutoNDA by SimpleDocs

Prosecution of Awards. (a) If any Condemnation shall occur, the party receiving the notice of such Condemnation shall give to the other party and the Agent promptly, but in any event within thirty (30) days after the occurrence thereof, written notice of such occurrence and the date thereof, generally describing the nature and extent of such Condemnation. With respect to any Event of Taking or any Condemnation, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are required, under Section 10.6, to be assigned ------------ or released to such the Lessee, unless an a Potential Event of Default or Event of Default shall have occurred and be continuingoccurred, in which case (i) the Agent (or the Lessor if the Loans have been fully paid) shall control such negotiations; and (ii) such the Lessee hereby irrevocably assigns, transfers and sets over to the Agent (or the Lessor if the loans have been fully paid) all rights of such the Lessee to any Award on account of any Event of Taking or any Condemnation and, if there will not be separate Awards to the Lessor and such the Lessee on account of such Event of Taking or Condemnation, irrevocably authorizes and empowers the Agent (or the Lessor if the Loans have been fully paid) during the continuance of an Event of Default), with full power of substitution, in the name of such the Lessee or otherwise (but without limiting the obligations of such the Lessee under this Article X), to file and --------- prosecute what would otherwise be such the Lessee's claim for any such Award and to collect, receipt for and retain the same. In any event the Lessor and the Agent may participate in such negotiations, and no settlement will be made without the prior consent of the Agent (or the Lessor if the Loans have been fully paid), not to be unreasonably withheld.

Appears in 1 contract

Samples: Master Lease Agreement (Jones Financial Companies Lp LLP)

Prosecution of Awards. (a) If any Condemnation shall occur, the party receiving the notice of such Condemnation related Lessee shall give to the other party Lessor and the Syndication Agent promptly, but in any event within thirty (30) days after the occurrence thereof, written notice of such occurrence and the date thereof, generally describing the nature and extent of such Condemnation. With respect to any Event of Taking or any Condemnation, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are required, under Section SECTION 10.6, to be assigned or released to such Lessee, unless an Event of Default shall have occurred and be continuing, in which case (i) the Syndication Agent (or Lessor if the Loans have been fully paid) shall control such negotiations; and (ii) such Lessee hereby irrevocably assigns, transfers and sets over to Lessor all rights of such Lessee to any Award on account of any Event of Taking or any Condemnation and, if there will not be separate Awards to Lessor and such Lessee on account of such Event of Taking or Condemnation, irrevocably authorizes and empowers the Syndication Agent (or Lessor if the Loans have been fully paid) during the continuance of an Event of Default, with full power of substitution, in the name of such Lessee or otherwise (but without limiting the obligations of such Lessee under this Article ARTICLE X), to file and prosecute what would otherwise be such Lessee's claim for any such Award and to collect, receipt for and retain the same. In any event Lessor and the Syndication Agent may participate in such negotiations, and no settlement will be made without the prior consent of the Syndication Agent (or Lessor if the Loans have been fully paid), not to be unreasonably withheld.

Appears in 1 contract

Samples: Master Lease Agreement (Cornell Companies Inc)

Prosecution of Awards. (a) If any Condemnation shall occur, the party receiving the notice of such Condemnation shall give to the other party and the Agent promptly, but in any event within thirty (30) days after the occurrence thereof, written notice of such occurrence and the date thereof, generally describing the nature and extent of such Condemnation. With respect to any Event of Taking or any Condemnation, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are required, under Section 10.6, to be assigned or released to such the Lessee, unless an Event of Default shall have occurred and be continuing, in which case (i) the Agent (or Lessor if the Loans have been fully paid) shall control such negotiations; and (ii) such the Lessee hereby irrevocably assigns, transfers and sets over to Lessor all rights of such the Lessee to any Award on account of any Event of Taking or any Condemnation and, if there will not be separate Awards to Lessor and such the Lessee on account of such Event of Taking or Condemnation, irrevocably authorizes and empowers the Agent (or Lessor if the Loans have been fully paid) during the continuance of an Event of Default, with full power of substitution, in the name of such the Lessee or otherwise (but without limiting the obligations of such the Lessee under this Article X), to file and prosecute what would otherwise be such the Lessee's ’s claim for any such Award and to collect, receipt for and retain the samesame to be applied to the Lease Balance pursuant to the Master Agreement. In any event Lessor and the Agent may participate in such negotiations, and no settlement will be made without the prior consent of the Agent (or Lessor if the Loans have been fully paid)Agent, not to be unreasonably withheld.

Appears in 1 contract

Samples: Lease Agreement (Bank of New York Co Inc)

Prosecution of Awards. (a) If any Condemnation shall occur, the party receiving the notice of such Condemnation shall give to the other party and the Agent promptly, but in any event within thirty (30) days after the occurrence thereof, written notice of such occurrence and the date thereof, generally describing the nature and extent of such Condemnation. With respect to any Event of Taking or any Condemnation, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are or may be required, under Section 10.6, to ------------ be assigned or released to such Lessee, unless an Event of Default shall have occurred and be continuing, in which case (i) the Agent (or Lessor if the Loans have been fully paid) shall control such negotiations; and (ii) such Lessee hereby irrevocably assigns, transfers and sets over to Lessor all rights of such Lessee to any Award on account of any Event of Taking or any Condemnation and, if there will not be separate Awards to Lessor and such Lessee on account of such Event of Taking or Condemnation, irrevocably authorizes and empowers the Agent (or Lessor if the Loans have been fully paid) during the continuance of an Event of Default, with full power of substitution, in the name of such Lessee or otherwise (but without limiting the obligations of such Lessee under this Article X), to file and prosecute what would --------- otherwise be such Lessee's claim for any such Award and to collect, receipt for and retain the same. In any event Lessor and the Agent may participate in such negotiations, and no settlement will be made without the prior consent of the Agent (or Lessor if the Loans have been fully paid), not to be unreasonably withheld.

Appears in 1 contract

Samples: Master Lease Agreement (Rowe Companies)

Prosecution of Awards. (a) If If, during the continuance of any --------------------- Event of Default, any Condemnation shall occur, the party receiving the notice of such Condemnation Lessee shall give to the other party Lessor and the Agent promptly, but in any event within thirty (30) days after the occurrence thereof, written notice of such occurrence and the date thereof, generally describing the nature and extent of such Condemnation. With respect to any Event of Taking or any Condemnation, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are required, under Section 10.6, to be assigned or ------------ released to such Lessee, unless an Event of Default shall have occurred and be continuing, in which case (i1) the Agent (or Lessor if the Loans have been fully paid) shall control such negotiations; and (ii2) such subject to Section 10.9, Lessee ------------ hereby irrevocably assigns, transfers and sets over to Lessor all rights of such Lessee to any Award made during the continuance of an Event of Default on account of any Event of Taking or any Condemnation and, if there will not be separate Awards to Lessor and such Lessee on account of such Event of Taking or Condemnation, irrevocably authorizes and empowers the Agent (or Lessor if the Loans have been fully paid) during the continuance of an Event of Default, with full power of substitution, in the name of such Lessee or otherwise (but without limiting the obligations of such Lessee under this Article X), to file and prosecute --------- what would otherwise be such Lessee's claim for any such Award and to collect, receipt for and retain the same. In ; provided, however, that in any event Lessor and -------- ------- the Agent may participate in such negotiations, and no settlement will be made without the prior consent of the Agent (or Lessor if the Loans have been fully paid), not to be unreasonably withheld.

Appears in 1 contract

Samples: Master Agreement (Sterling Commerce Inc)

Prosecution of Awards. (a) If any Condemnation shall occur, the party receiving the notice of such Condemnation shall give to the other party and the Agent promptly, but in any event within thirty (30) days after the occurrence thereof, written notice of such occurrence and the date thereof, generally describing the nature and extent of such Condemnation. With respect to any Event of Taking or any Condemnation, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are required, under Section 10.6, to be assigned or released to such Lessee, unless an Event of Default shall have occurred and be continuing, in which case (i) the Agent (or Lessor if the Loans have been fully paid) shall control such negotiations; and (ii) such Lessee hereby irrevocably assigns, transfers and sets over to Lessor all rights of such Lessee to any Award on account of any Event of Taking or any Condemnation and, if there will not be separate Awards to Lessor and such Lessee on account of such Event of Taking or Condemnation, irrevocably authorizes and empowers the Agent (or Lessor if the Loans have been fully paid) during the continuance of an Event of Default, with full power of substitution, in the name of such Lessee or otherwise (but without limiting the obligations of such Lessee under this Article X), to file and prosecute what would otherwise be such Lessee's claim for any such Award and to collect, receipt for and retain the same. The agency and power of the Agent (or of the Lessor if the Loans have been fully paid) as attorney-in-fact hereunder are coupled with an interest, and cannot be revoked by bankruptcy, insolvency, incompetency, death, dissolution or otherwise. In any event Lessor and the Agent may participate in such negotiations, and no settlement will be made without the prior consent of the Agent (or Lessor if the Loans have been fully paid), not to be unreasonably withheld.

Appears in 1 contract

Samples: Master Lease Agreement (Concord Efs Inc)

Prosecution of Awards. (a) If If, during the continuance of any Event of Default, any Condemnation shall occur, the party receiving the notice of such Condemnation Lessee shall give to the other party Lessor and the Agent Lender promptly, but in any event within thirty sixty (3060) days after the occurrence thereofof such Condemnation, written notice of such occurrence and the date thereof, generally describing the nature and extent of such Condemnation. With respect to any Event of Taking or any Condemnation, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are required, under Section 10.611.6, to be assigned or released to such Lessee; provided, unless however, that if an Event of Default shall have occurred and be continuing, in which case (i) the Agent (or continuing Lessor if the Loans have been fully paid) shall control such negotiations; and (ii) such . Lessee hereby irrevocably assigns, transfers and sets over to Lessor all rights of such Lessee to any Award made during the continuance of an Event of Default on account of any Event of Taking or any Condemnation and, if there will not be separate Awards to the Lessor and such the Lessee on account of such Event of Taking or Condemnation, irrevocably authorizes and empowers the Agent (or Lessor if the Loans have been fully paid) during the continuance of an Event of Default, with full power of substitution, substitution in the name of such Lessee or otherwise (but without limiting the obligations of such Lessee under this Article XArticle), to file and prosecute what would otherwise be such Lessee's claim for any such Award and and, in the case of Lessor, to collect, receipt for and retain the same. In ; provided, however, that in any event Lessor and the Agent may participate in any such negotiations, and no settlement will be made without the Lessor's prior consent of the Agent (or Lessor if the Loans have been fully paid)consent, not to be unreasonably withheldwithheld or delayed.

Appears in 1 contract

Samples: Master Lease and Development Agreement (Atria Communities Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.