Common use of Taking for Temporary Use Clause in Contracts

Taking for Temporary Use. In the event of a Taking of all or any portion of the Premises for temporary use or occupancy (a “Temporary Taking”): (i) this Lease shall not terminate, there shall be no reduction in the Lease Payments payable under this Lease, and Tenant shall continue to perform and observe all of its obligations under this Lease as though such Taking had not occurred except only to the extent that it may be prevented from so doing; (ii) any condemnation award or payment shall be applied first to reimburse Landlord and Tenant for the necessary and proper expenses paid or incurred by Xxxxxxxx and Tenant in the collection of the condemnation award (including, without limitation reasonable attorneys’ fees and disbursements); (iii) the Net Condemnation Proceeds shall be held by the Insurance Depository and applied to the payment of Lease Payments coming due under this Lease. If the Temporary Taking extends beyond the expiration of the Term, Landlord shall be entitled to the portion of the Net Condemnation Proceeds allocable to the period after the expiration date; (iv) at the termination of the Temporary Taking (whether prior or subsequent to the expiration date), Tenant shall proceed with due diligence to repair, restore and replace the Premises as nearly as possible to its condition prior to such Temporary Taking. The portion of the Net Condemnation Proceeds allocable to such Reconstruction shall be held, invested and disbursed by the Insurance Depository to pay the costs of Reconstruction upon substantially the same terms and conditions as are applicable to the Restoration Funds under Section 12. Tenant shall be responsible for any costs in excess of the amount of the award; (v) any balance remaining after application of the condemnation award pursuant to Section 13(f)(ii), 13(f)(iii) and 13(f)(iv) shall be paid to Tenant.

Taking for Temporary Use. In Subject to Section 8.2(b), in the event of a Taking of all or part of a Hotel for temporary use, this Agreement shall remain in full force and effect with respect to such Hotel, and the following shall be applicable: a. If the Taking is for a period not extending beyond the term of this Agreement, the awards or other proceeds on account of the Taking (including any interest included or paid with respect to such awards or proceeds) other than any portion of such awards or proceeds specifically identified as compensation for alterations or damages to such Hotel shall be included in Gross Revenue and Adjusted Gross Operating Profit for the Premises for Operating Year or Years in which received. When and if during the term of this Agreement, the period of temporary use or occupancy (a “Temporary Taking”): (i) this Lease shall not terminate, there shall be no reduction in the Lease Payments payable under this LeaseWestboy shall, and Tenant shall continue to perform and observe all of its obligations under this Lease as though such Taking had not occurred except only to the extent that it may be prevented from so doing; (ii) any condemnation award or payment proceeds are made available to Westboy for restoration, repair and alterations, make all such restoration, repairs and alterations as shall be applied first necessary to reimburse Landlord and Tenant for the necessary and proper expenses paid or incurred by Xxxxxxxx and Tenant in the collection of the condemnation award (including, without limitation reasonable attorneys’ fees and disbursements); (iii) the Net Condemnation Proceeds shall be held by the Insurance Depository and applied to the payment of Lease Payments coming due under this Lease. If the Temporary Taking extends beyond the expiration of the Term, Landlord shall be entitled to the portion of the Net Condemnation Proceeds allocable to the period after the expiration date; (iv) at the termination of the Temporary Taking (whether prior or subsequent to the expiration date), Tenant shall proceed with due diligence to repair, restore and replace the Premises as nearly as possible such Hotel to its condition prior to such Temporary Taking. The Taking for temporary use and shall complete the same with diligence. b. If the Taking is for a period extending beyond the term of this Agreement, the awards or other proceeds on account of the Taking (including any interest included or paid with respect to such awards or proceeds) other than any portion of the Net Condemnation Proceeds allocable such awards or proceeds specifically identified as compensation for alterations or damages to such Reconstruction Hotel for the period of the Taking up to the stated expiration of the term of this Agreement shall be heldincluded in determining Gross Revenue and Adjusted Gross Operating Profit for the Operating Year or Years in which received, invested and disbursed by the Insurance Depository to pay the costs remainder of Reconstruction upon substantially the same terms and conditions such awards or other proceeds (including interest as are applicable to the Restoration Funds under Section 12. Tenant shall be responsible for any costs in excess of the amount of the award; (v) any balance remaining after application of the condemnation award pursuant to Section 13(f)(ii), 13(f)(iii) and 13(f)(ivaforesaid) shall be paid to TenantWestboy. c. Notwithstanding the foregoing provisions of this Section 8.2, if during the last five (5) Operating Years of this Agreement as the term hereof may be extended by Manager there should be a temporary taking of all or a part of any Hotel which extends for a period of at least thirty-six (36) months, and Westboy concludes in good faith that it would not be economically reasonable to operate such Hotel as contemplated in this Agreement following the temporary taking, then Westboy may elect to terminate this Agreement with respect to such Hotel as of the Date of Taking by giving written notice to Manager within thirty (30) days thereof, in which event the provisions of Section 8.2(b) shall apply with regard to the proceeds.

Taking for Temporary Use. In Subject to Section 15.3(b), in the event of a Taking of all or part of a Facility for temporary use, this Lease shall remain in full force and effect with respect to such Facility, and the following shall be applicable: (a) If the Taking is for a period not extending beyond the term of this Lease, the awards or other proceeds on account of the Taking (including any interest included or paid with respect to such awards or proceeds) other than any portion of the Premises such awards or proceeds specifically identified as compensation for temporary use alterations or occupancy (a “Temporary Taking”): (i) this Lease shall not terminate, there damages to such Facility shall be no reduction included in Gross Revenue for FFE Reserves for the Lease Payments payable under Fiscal Year or Years in which received. When and if during the term of this Lease, and Tenant the period of temporary use shall continue to perform and observe all of its obligations under this Lease as though such Taking had not occurred except only terminate, Lessee shall, to the extent that it may be prevented from so doing; (ii) any condemnation award or payment proceeds are made available to Lessee for restoration, repair and alterations, make all such restoration, repairs and alterations as shall be applied first necessary to reimburse Landlord and Tenant for the necessary and proper expenses paid or incurred by Xxxxxxxx and Tenant in the collection of the condemnation award (including, without limitation reasonable attorneys’ fees and disbursements); (iii) the Net Condemnation Proceeds shall be held by the Insurance Depository and applied to the payment of Lease Payments coming due under this Lease. If the Temporary Taking extends beyond the expiration of the Term, Landlord shall be entitled to the portion of the Net Condemnation Proceeds allocable to the period after the expiration date; (iv) at the termination of the Temporary Taking (whether prior or subsequent to the expiration date), Tenant shall proceed with due diligence to repair, restore and replace the Premises as nearly as possible such Facility to its condition prior to such Temporary Taking. The Taking for temporary use and shall complete the same with diligence. (b) If the Taking is for a period extending beyond the Term of this Lease as it may be extended, the awards or other proceeds on account of the Taking (including any interest included or paid with respect to such awards or proceeds) other than any portion of the Net Condemnation Proceeds allocable such awards or proceeds specifically identified as compensation for alterations or damages to such Reconstruction Facility for the period of the Taking up to the stated expiration of the term of this Lease shall be heldincluded in determining Gross Revenue for FFE Reserves for the Fiscal Year or Years in which received, invested and disbursed by the Insurance Depository to pay the costs remainder of Reconstruction upon substantially the same terms and conditions such awards or other proceeds (including interest as are applicable to the Restoration Funds under Section 12. Tenant shall be responsible for any costs in excess of the amount of the award; (v) any balance remaining after application of the condemnation award pursuant to Section 13(f)(ii), 13(f)(iii) and 13(f)(ivaforesaid) shall be paid to TenantLessor. (c) Notwithstanding the foregoing provisions of this Section 15.3, if during the last five (5) years of this Lease as the Term hereof may be extended by Lessee there should be a temporary taking of all or a part of any Facility which extends for a period of at least thirty-six (36) months, and Lessee concludes in good faith that it would not be economically feasible to operate such Facility as contemplated in this Lease following the temporary taking, then Lessee may elect to terminate this Lease with respect to such Facility as of the Date of Taking by giving written notice to Lessor within thirty (30) days thereof, in which event the provisions of Section 15.3(b) shall apply with regard to the proceeds.