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. (b) Notwithstanding the foregoing, each Lessee may prosecute, and Lessor shall have no interest in, any claim with respect to such Lessee's personal property and equipment not financed by or otherwise property of Lessor, business interruption or similar award and such Lessee's relocation expenses.
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Samples: Master Lease Agreement (Dollar Tree Stores Inc), Master Lease Agreement (Choicepoint Inc), Master Lease Agreement (Choicepoint 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 condemnation with respect to any CondemnationLeased Property, the related Lessee shall control the negotiations with the relevant Governmental Authority as to any proceeding in respect of which Awards are requiredgovernmental authority; provided, under Section 10.6however, to be assigned or released to such Lessee, unless that if an Event of Default shall have occurred and be continuing, in which case (i) the Agent (continuing Lessor or Lessor if the Loans have been fully paid) its assigns 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 award made during the continuance of an Event of Default on account of any Event of Taking or any Condemnation condemnation and, if there will not be separate Awards awards to the Lessor and such the Lessee on account of such Event of Taking or Condemnationcondemnation, 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 same in accordance with Section 6.3 of the Indenture; 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 withheld.
(b) Notwithstanding the foregoing, each Lessee may prosecute, and Lessor shall have no interest in, any claim with respect to such Lessee's personal property and equipment not financed by or otherwise property of Lessor, business interruption or similar award and such Lessee's relocation expenses.
Appears in 3 contracts
Samples: Lease and Development Agreement (Minnesota Power & Light Co), Lease and Development Agreement (Minnesota Power & Light Co), Lease and Development Agreement (Minnesota Power & Light Co)
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.
(b) Notwithstanding the foregoing, each Lessee may prosecute, and Lessor shall have no interest in, any claim with respect to such Lessee's trade fixtures, other personal property and equipment not financed by or otherwise property of Lessor, business interruption or similar award and such Lessee's relocation expenses.
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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 Unless a Lease Event of Taking or any CondemnationDefault shall have occurred and be continuing, the related Lessee shall control the negotiations with the relevant Governmental Authority as with respect to any proceeding in respect Condemnation, provided that during the continuance of which Awards are required, under Section 10.6, to be assigned or released to such Lessee, unless an any Lease Event of Default shall have occurred and be continuingDefault, 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 on account made during the continuance of any a Lease 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 Agent (or Lessor if the Loans have been fully paid) during the continuance of an a Lease 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. 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 Agent (or Lessor if the Loans have been fully paid), not to be unreasonably withheld.
(b) Notwithstanding the foregoing, each Lessee may prosecute, and Lessor shall have no interest in, any claim with respect to such Lessee's ’s personal property and equipment not financed by or otherwise property of Lessor, business interruption or similar award Lessor and such Lessee's ’s relocation expenses.
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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.
(b) Notwithstanding the foregoing, each Lessee may prosecute, and Lessor shall have no interest in, any claim with respect to such Lessee's personal property and equipment not financed by or otherwise property of Lessor, business interruption or similar award and such Lessee's relocation expenses.this
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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.
(b) Notwithstanding the foregoing, each Lessee may prosecute, and Lessor shall have no interest in, any claim with respect to such Lessee's ’s personal property and equipment not financed by or otherwise property of LessorLessee Equipment , business interruption or similar award and such Lessee's ’s relocation expenses.
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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 Unless a Lease Event of Taking or any CondemnationDefault shall have occurred and be continuing, the related Lessee shall control the negotiations with the relevant Governmental Authority as with respect to any proceeding in respect Condemnation, provided that during the continuance of which Awards are required, under Section 10.6, to be assigned or released to such Lessee, unless an any Lease Event of Default shall have occurred and be continuingDefault, 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 on account made during the continuance of any a Lease 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 Agent (or Lessor if the Loans have been fully paid) during the continuance of an a Lease 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. 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.
(b) Notwithstanding the foregoing, each Lessee may prosecute, and Lessor shall have no interest in, any claim with respect to such Lessee's ’s personal property and equipment not financed by or otherwise property of Lessor, business interruption or similar award Lessor and such Lessee's ’s relocation expenses.
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