Common use of Rights of Parties in Event of Condemnation; Bonds Protected in Any Event Clause in Contracts

Rights of Parties in Event of Condemnation; Bonds Protected in Any Event. A. If during the term of this Lease Agreement title to all or substantially all of the Leased Premises shall be taken or condemned by a competent authority for any public use or purpose, the net amount awarded as damages or paid as a result of such taking (being the gross award less attorneys’ fees and other expenses and costs incurred in the condemnation proceedings, hereinafter referred to as the “net award”) shall be used on the next redemption date to pay in accordance with the provisions of the Trust Indenture, the entire principal, premium, if any, and interest on all Bonds outstanding under the Trust Indenture. If the net award together with the amount then in the Bond Fund, shall be insufficient to pay in full, on the next redemption date, the amount necessary to pay all principal, premium, if any, interest, and all other costs of redemption, on all Bonds outstanding under the Trust Indenture (all of which, for purposes of this Section, shall be called “total bond redemption expense”), Xxxxxx agrees to pay, promptly upon payment of the net award, as Additional Rent hereunder, the amount by which the total bond redemption expense shall exceed the net award plus the amount then on deposit in the Bond Fund and available for payment and redemption of the Bonds outstanding under the Trust Indenture. For purposes of this Article and of Article XX, “title to all or substantially all of the Leased Premises shall be taken or condemned” shall be deemed to mean a taking of all of the Leased Premises or a taking of such substantial portion of the Leased Premises that the Lessee, as determined by the Lessee in its sole discretion, cannot reasonably operate the remainder in substantially the same manner as before. In the event the net award, together with any available amount in the Bond Fund, shall be in excess of the amount necessary to pay the total bond redemption expense, such excess shall belong to and be paid to the Lessee.

Rights of Parties in Event of Condemnation; Bonds Protected in Any Event. A. (a) If during the term of this Lease Agreement Loan Term title to all or substantially all of the Leased Premises Mortgaged Property shall be taken or condemned by a competent authority for any public use or purpose, then, subject to the net amount awarded as damages or subsequent provisions of this Section, the condemnation award shall be paid as a result to Trustee, for the account of such taking Issuer, and deposited into the Bond Fund (subject to the provisions of the Indenture and this Loan Agreement) and Company hereby assigns the award to Issuer. In the event the Net Proceeds of any condemnation award (being the gross award amount awarded less attorneys’ all reasonable attorney’s fees and other reasonable expenses and costs incurred in the condemnation proceedings, hereinafter referred to as the “net award”proceeding) shall be used on the next redemption date to pay in accordance with the provisions of the Trust Indenture, the entire principal, premium, if any, and interest on all Bonds outstanding under the Trust Indenture. If the net award together with the amount then in the Bond Fund, Fund shall be insufficient to pay in full, on the next redemption datedate fixed by Company pursuant to the provisions of Section 301 of the Indenture, the amount necessary to pay all principal, premium, if any, interest, Trustee’s fees and expenses, and all other costs of redemption, on all Bonds outstanding under the Trust Indenture redemption (all of which, for purposes of this Section, shall be called “total bond redemption expense”), Xxxxxx Company agrees to pay, pay promptly upon payment of the net condemnation award, as Additional Rent hereunder, the amount by which the total bond redemption expense shall exceed the net Net Proceeds of any condemnation award plus the amount then on deposit in the Bond Fund and available for payment and redemption of the Bonds outstanding under the Trust IndentureFund. For the purposes of this Article and of Article XXVIII, “title to all or substantially all of the Leased Premises shall be taken or condemnedMortgaged Property” shall be deemed to mean a taking of all of the Leased Premises Mortgaged Property or a taking of such a substantial portion of the Leased Premises Mortgaged Property that the LesseeCompany, as determined by the Lessee Company in its sole discretion, cannot reasonably operate the remainder in substantially the same manner as beforeremainder. In the event the net Net Proceeds of any condemnation award, together with any available the amount in the Bond Fund, shall be in excess of the amount necessary to pay the total bond redemption expense and Company is not in default in any of its other obligations hereunder, or Company is in default in any of its obligations hereunder and the Net Proceeds of any condemnation award plus the amount then on deposit in the Bond Fund plus any amount previously paid to the Bondowners on account of the total bond redemption expense shall be in excess of the amount necessary to pay the total bond redemption expense, such then the appropriate excess shall belong to and be paid to Company; provided, however, that if an event of default has occurred and is continuing with reference to any of its other obligations hereunder, the Lesseeamount necessary to satisfy such default shall also be paid to Trustee by Company whether from such excess or otherwise. To the extent that the sum of the Net Proceeds of any condemnation award plus the amount then on deposit in the Bond Fund plus any amount previously paid to the owners of the Bonds on account of the total bond redemption expense shall be less than the total bond redemption expense, Company agrees to pay such deficiency to Issuer. Issuer agrees that it will not voluntarily accept, without the prior approval of Company, any condemnation award, and Issuer agrees that it will cooperate with Company with the end in view of obtaining the maximum justifiable condemnation award.

Rights of Parties in Event of Condemnation; Bonds Protected in Any Event. A. If during the term of this Lease Agreement Term title to all or substantially all of the Leased Premises Mortgaged Property shall be taken or condemned by a competent authority for any public use or purpose, then this Lease Agreement shall terminate at midnight on the 15th day after the vesting of title in such authority and rent shall be paid to and adjusted as of that day. In that event, subject to the subsequent provisions of this Section, the condemnation award shall belong to Issuer and shall be paid to Trustee and deposited into the Bond Fund (subject to the provisions of the Indenture and this Lease Agreement) and Company hereby assigns the award to Issuer. In the event the net amount awarded as damages or paid as a result of such taking condemnation award (being the gross award amount awarded less attorneys’ all reasonable attorney’s fees and other reasonable expenses and costs incurred in the condemnation proceedings, hereinafter referred to as the “net award”proceeding) shall be used on the next redemption date to pay in accordance with the provisions of the Trust Indenture, the entire principal, premium, if any, and interest on all Bonds outstanding under the Trust Indenture. If the net award together with the amount then in the Bond Fund, Fund shall be insufficient to pay in full, on the next redemption datedate fixed by Company pursuant to the provisions of Section 301 of the Indenture, the amount necessary to pay all principal, premium, if any, interest, Trustee’s fees, and all other costs of redemption, on all Bonds outstanding under the Trust Indenture redemption (all of which, for purposes of this Section, shall be called “total bond redemption expense”), Xxxxxx Company agrees to pay, pay promptly upon payment of the net condemnation award, as Additional Rent hereunderadditional rent under this Lease Agreement, the amount by which the total bond redemption expense shall exceed the net condemnation award plus the amount then on deposit in the Bond Fund and available for payment and redemption Fund. Company’s agreement to pay additional rent pursuant to this Section 7.5 shall survive any 30 termination of the Bonds outstanding Lease Agreement under the Trust Indenturethis Section 7.5. For the purposes of this Article and of Article XXVII, “title to all or substantially all of the Leased Premises shall be taken or condemnedMortgaged Property” shall be deemed to mean a taking of all of the Leased Premises Mortgaged Property or a taking of such a substantial portion of the Leased Premises Mortgaged Property that the LesseeCompany, as determined by the Lessee Company in its sole discretion, cannot reasonably operate the remainder in substantially the same manner as before. In the event the net condemnation award, together with any available the amount in the Bond Fund, shall be in excess of the amount necessary to pay the total bond redemption expense and Company is not in default in any of its other obligations hereunder, or Company is in default in any of its obligations hereunder and the net condemnation award plus the amount then on deposit in the Bond Fund plus any amount previously paid to the Bondowners on account of the total bond redemption expense shall be in excess of the amount necessary to pay the total bond redemption expense, such then the appropriate excess shall belong to and be paid to Company; provided, however, that if Company is in default with reference to any of its other obligations hereunder, the Lesseeamount necessary to satisfy such default shall have been previously paid to Trustee by Company. To the extent that the sum of the net condemnation award plus the amount then on deposit in the Bond Fund plus any amount previously paid to the owners of the Bonds on account of the total bond redemption expense shall be less than the total bond redemption expense, Company agrees to pay such deficiency to Issuer as additional rent hereunder. If less than all of the Mortgaged Property shall be so taken or condemned and this Lease shall terminate as provided in this Section 7.5 (A), then the part of the Mortgaged Property not so taken or condemned shall be sold at a public auction (at which auction the Company, the Guarantor, the Issuer and the Trustee shall have the right to bid), and the net proceeds of such sale shall be deemed to be included in and be part of the award or awards, to be disposed of as set forth in this subdivision (A). Issuer agrees that it will not voluntarily accept, without the prior approval of Company, any condemnation award, and Issuer agrees that it will cooperate with Company with the end in view of obtaining the maximum justifiable condemnation award.