Taking of Less than Substantially Sample Clauses

Taking of Less than Substantially. All the Subleased Premises During the Term of the Sublease or Any Renewal Thereof. If less than substantially all the Subleased Premises is taken by such exercise of the power of Eminent Domain during the term of the Sublease or any renewal thereof, all obligations of the Tenant under the Sublease which are still capable of performance (including, without limitation, the obligation of the Tenant to pay the Basic Rent and all other amounts payable hereunder) shall continue in full force and effect. Subject to the provisions of the Reimbursement Agreement and the Series 1997 Security Deed, the Tenant shall be entitled to collect, hold and apply all of the Net Condemnation Award in respect of any such taking, regardless of the amount thereof, and any part of such award initially paid to the Landlord shall be paid over to the Tenant or applied as the Tenant may direct in accordance with the provisions hereof, and the Landlord will cause the Authority and/or the Trustee to pay any such proceeds to Tenant pursuant to the provisions of the Authority Lease. The Net Condemnation Award in respect of any such taking shall be applied by the Tenant, or at its direction, for one or more of the following purposes: (1) payment of the costs of repairing, restoring, modifying, relocating or rearranging any portions of the Project not taken but damaged or adversely affected by such taking, all under such circumstances and upon such terms as shall be specified by the Lessee and as shall not change the character of the Project to such extent that it will not constitute facilities eligible for financing by the Authority within the meaning of the Enabling Law; or, (2) payment of the costs of acquiring (by construction, purchase or otherwise) such additional facilities and equipment as the Lessee may direct, which facilities and equipment (i) shall be of such nature as to constitute facilities eligible for financing by the Authority within the meaning of the Enabling Law, (ii) shall be acquired by the Authority and made subject to the demise of the Lease free of liens and encumbrance other than Permitted Encumbrances, and (iii) shall be deemed a part of the Project and made available for use by the Lessee, without the payment of additional rent hereunder, to the same extent as if such facilities and equipment had originally constituted part of the Project and had been specifically demised hereby.
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Taking of Less than Substantially all of a Facility. If less than substantially all of a Facility or the Property on which it is located is subject to a Taking, then this Facilities Lease shall continue in effect as to such Facility not taken and Diamond Shamrock R & M, at its own cost and expense, shall place the same in good operating order, repair, condition and appearance. Brazos and Diamond Shamrock R & M each hereby waives any statutory or common law right allowing either of them to petition any court to terminate this Facilities Lease in the event of a Taking of less than substantially all of the Facility or the Property on which it is located.
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Related to Taking of Less than Substantially

  • LIMITATION OF LIABILITY OF THE TRUSTEES, OFFICERS, AND SHAREHOLDERS A copy of the Agreement and Declaration of Trust of the Fund is on file with the Secretary of The Commonwealth of Massachusetts, and notice is hereby given that this instrument is executed on behalf of the Trustees of the Fund as Trustees and not individually and that the obligations of or arising out of this instrument are not binding upon any of the Trustees, officers or shareholders individually but are binding only upon the assets and property of the respective Fund.

  • Compliance with Consolidation Provisions The Company will not, while any of the Securities remain Outstanding, consolidate with or merge into any other Person, in either case where the Company is not the survivor of such transaction, or sell or convey all or substantially all of its property to any other Person unless the provisions of Article Ten hereof are complied with.

  • LIMITATION OF LIABILITY OF THE TRUSTEES AND SHAREHOLDERS A copy of the Agreement and Declaration of Trust of the Trust is on file with the Secretary of The Commonwealth of Massachusetts, and notice is hereby given that this instrument is executed on behalf of the Trustees of the Trust as Trustees and not individually and that the obligations of this instrument are not binding upon any of the Trustees or shareholders individually but are binding only upon the assets and property of the Fund.

  • Application of Trust Funds Certain Duties Section 5.01. [Reserved].

  • Limitation on Duties Regarding Collateral The Agent's sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Code or otherwise, shall be to deal with it in the same manner as the Agent deals with similar securities and property for its own account. Neither the Agent, any Bank nor any of their respective directors, officers, employees or agents shall be liable for failure to demand, collect or realize upon any of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Pledgor or otherwise.

  • Limitation on Duties Regarding Preservation of Collateral The Lender's duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession, under Section 9-207 of the Uniform Commercial Code or otherwise, shall be to deal with it in the same manner as the Lender deals with similar property for its own account. Neither the Lender nor any of its directors, officers or employees shall be liable for failure to demand, collect or realize upon all or any part of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of the Borrower or otherwise.

  • Limitation on Resignation of the Master Servicer The Master Servicer shall not resign from the obligations and duties hereby imposed on it except (i) upon determination that its duties hereunder are no longer permissible under applicable law or (ii) with the written consent of the Trustee, the NIMS Insurer and written confirmation from each Rating Agency (which confirmation shall be furnished to the Depositor, the NIMS Insurer and the Trustee) that such resignation shall not cause such Rating Agency to reduce the then current rating of the Class A Certificates or the Mezzanine Certificates. Any such determination pursuant to clause (i) of the preceding sentence, permitting the resignation of the Master Servicer, shall be evidenced by an Opinion of Counsel to such effect obtained at the expense of the Master Servicer and delivered to the Trustee and the NIMS Insurer. No resignation of the Master Servicer shall become effective until the Trustee or a successor servicer acceptable to the NIMS Insurer shall have assumed the Master Servicer’s responsibilities, duties, liabilities (other than those liabilities arising prior to the appointment of such successor) and obligations under this Agreement. Except as expressly provided herein, the Master Servicer shall not assign or transfer any of its rights, benefits or privileges hereunder to any other Person, nor delegate to or subcontract with, nor authorize or appoint any other Person to perform any of the duties, covenants or obligations to be performed by the Master Servicer hereunder. If, pursuant to any provision hereof, the duties of the Master Servicer are transferred to a successor master servicer, the entire amount of the Servicing Fee and other compensation payable to the Master Servicer pursuant hereto shall thereafter be payable to such successor master servicer.

  • Limitation on Lines of Business Enter into any business, either directly or through any Subsidiary, except for those businesses in which the Borrower and its Subsidiaries are engaged on the date of this Agreement or that are reasonably related thereto.

  • Limitation on Resignation of Master Servicer The Master Servicer shall not resign from the obligations and duties hereby imposed on it except (a) upon appointment of a successor servicer and receipt by the Trustee of a letter from each Rating Agency that such a resignation and appointment will not result in a downgrading of the rating of any of the Certificates, or (b) upon determination that its duties hereunder are no longer permissible under applicable law. Any such determination under clause (b) permitting the resignation of the Master Servicer shall be evidenced by an Opinion of Counsel to such effect delivered to the Trustee. No such resignation shall become effective until the Trustee or a successor master servicer shall have assumed the Master Servicer's responsibilities, duties, liabilities and obligations hereunder.

  • Limitations of Liability of the Trustees and Shareholders A copy of the Trust's Agreement and Declaration of Trust is on file with the Secretary of the Commonwealth of Massachusetts, and notice is hereby given that this instrument is executed by the Trustees as Trustees and not individually and that the obligations of this instrument are not binding upon any of the Trustees, officers or shareholders individually but are binding only upon the assets and property of the appropriate Fund.

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