Common use of Rent; Award Clause in Contracts

Rent; Award. Upon termination of this Lease pursuant to an election under Section 15.3 above, then: (i) Tenant's obligation to pay Rent shall continue up until the date of termination, and thereafter shall cease, except that Rent shall be reduced as provided in Section 15.5 below for any period during which this Lease continues in effect after the Date of Taking, and (ii) City shall be entitled to the entire Award in connection therewith (including, but not limited to, any portion of the Award made for the value of the leasehold estate created by this Lease), and Tenant shall have no claim against City for the value of any unexpired term of this Lease, provided that Tenant may make a separate claim for compensation, and Tenant shall receive any Award made specifically to Tenant, for Tenant's relocation expenses or the interruption of or damage to Tenant's business or damage to Tenant's Personal Property.

Appears in 2 contracts

Samples: Lease, Lease

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Rent; Award. Upon termination of this Lease pursuant to an election under Section 15.3 above, then: (i) TenantLessee's obligation to pay Rent shall continue up until the date of termination, and thereafter shall cease, except that Rent shall be reduced as provided in Section 15.5 below for any period during which this Lease continues in effect after the Date of Taking, and (ii) City shall be entitled to the entire Award in connection therewith (including, but not limited to, any portion of the Award made for the value of the leasehold estate created by this Lease), and Tenant Lessee shall have no claim against City for the value of any unexpired term of this Lease, provided that Tenant Lessee may make a separate claim for compensation, and Tenant Lessee shall receive any Award made specifically to TenantLessee, for TenantLessee's relocation expenses or the interruption of or damage to TenantLessee's business or damage to TenantLessee's Personal Property.

Appears in 1 contract

Samples: Lease

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Rent; Award. Upon termination of this Lease pursuant to an election under Section 15.3 above, then: (i) TenantLessee's obligation to pay Rent shall continue up until the date of termination, and thereafter shall cease, except that Rent shall be reduced to the extent, if any,as provided in Section 15.5 below for any period during which this Lease continues in effect after the Date of Taking, and (ii) City shall be entitled to the entire Award in connection therewith (including, but not limited to, any portion of the Award made for the value of the leasehold estate created by this Lease), and Tenant Lessee shall have no claim against City for the value of any unexpired term of this Lease, provided that Tenant Lessee may make a separate claim for compensation, and Tenant Lessee shall receive any Award made specifically to TenantLessee, for TenantLessee's relocation expenses or the interruption of or damage to TenantLessee's business or damage to TenantLessee's Personal Property.

Appears in 1 contract

Samples: Lease

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