Common use of Temporary Condemnation or Lease Termination Clause in Contracts

Temporary Condemnation or Lease Termination. Notwithstanding any other provision to the contrary contained in this Section 12, in the event of any temporary Condemnation, this Lease shall remain in full force and effect, and provided no Special Incipient Default or Event of Default has occurred and is continuing, the Lessee shall be entitled to receive the Net Proceeds allocable to such temporary Condemnation, except that if this Lease shall expire or terminate during such temporary Condemnation, then Lessee shall only be entitled to the Net Proceeds allocable to the period after the termination or expiration of this Lease if it has purchased the Property pursuant to Section 14 hereof.

Appears in 3 contracts

Samples: Master Lease (Pep Boys Manny Moe & Jack), Master Lease (Pep Boys Manny Moe & Jack), Master Lease (Pep Boys Manny Moe & Jack)

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Temporary Condemnation or Lease Termination. Notwithstanding any other provision to the contrary contained in this Section paragraph 12, in the event of any temporary Condemnation, Condemnation this Lease shall remain in full force and effect, and provided no Special Incipient Default or Event of Default Default, Unwind Event or Environmental Trigger has occurred and is continuing, the Lessee shall be entitled to receive the Net Proceeds allocable to such temporary Condemnation, except that if this Lease shall expire or terminate during such temporary Condemnation, then Lessee shall only be entitled to the Net Proceeds allocable to the period after the termination or expiration of this Lease only if it has purchased paid the Property pursuant to Section 14 hereofOffer Purchase Price for the Property.

Appears in 2 contracts

Samples: Participation Agreement (Ferro Corp), Participation Agreement (Ferro Corp)

Temporary Condemnation or Lease Termination. Notwithstanding any other provision to the contrary contained in this Section 12Article VII, in the event of any temporary Condemnation, this Lease shall remain in full force and effect, and provided no Special Incipient Default or Default, Event of Default or Environmental Trigger has occurred and is continuing, the Lessee shall be entitled to receive the Net Proceeds allocable to such temporary Condemnation, except that if this Lease shall expire or terminate during such temporary Condemnation, then the Lessee shall only be entitled to the Net Proceeds allocable to the period after the termination or expiration of this Lease only if it has purchased paid the Property pursuant to Section 14 hereofTermination Value for the Property.

Appears in 2 contracts

Samples: Iru Agreement (Williams Communications Group Inc), Iru Agreement (Williams Communications Group Inc)

Temporary Condemnation or Lease Termination. Notwithstanding any other provision to the contrary contained in this Section 12Article VII, in the event of any temporary Condemnation, this Lease shall will remain in full force and effect, and provided no Special Incipient Default or Default, Event of Default Default, Environmental Trigger or Non-Performance Event has occurred and is continuing, the Lessee shall will be entitled to receive the Net Proceeds allocable to such temporary Condemnation, except that if this Lease shall expire expires or terminate terminates during such temporary Condemnation, then the Lessee shall only will be entitled to the Net Proceeds allocable to the period after the termination or expiration of this Lease only if it has purchased paid the Property pursuant to Section 14 hereofTermination Value for the Properties.

Appears in 1 contract

Samples: Lease (Rite Aid Corp)

Temporary Condemnation or Lease Termination. Notwithstanding any other provision to the contrary contained in this Section paragraph 12, in the event of any temporary Condemnation, Condemnation this Lease shall remain in full force and effect, and provided no Special Incipient Default or Event of Default has occurred and is continuing, the Lessee shall be entitled to receive the Net Proceeds allocable to such temporary Condemnation, except that if this Lease shall expire or terminate during such temporary CondemnationCondemnation (other than by reason of the Lessee's exercise of its Option to Purchase and its payment of the Purchase Price), then Lessee the Lessor shall only be entitled to the Net Proceeds allocable to the period after the termination or expiration of this Lease if it has purchased the Property pursuant to Section 14 hereofLease.

Appears in 1 contract

Samples: Lease (Salomon Smith Barney Holdings Inc)

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Temporary Condemnation or Lease Termination. Notwithstanding any other ------------------------------------------- provision to the contrary contained in this Section paragraph 12, in the event of any temporary Condemnation, Condemnation this Lease shall remain in full force and effect, and provided no Special Incipient Default or Default, Event of Default or Major Environmental Event has occurred and is continuing, the Lessee shall be entitled to receive the Net Proceeds allocable to such temporary Condemnation, except that if this Lease shall expire or terminate during such temporary Condemnation, then the Lessee shall only be entitled to the Net Proceeds allocable to the period after the termination or expiration of this Lease only if it has purchased paid the Property pursuant to Section 14 hereofOffer Purchase Price for the Mill II Property.

Appears in 1 contract

Samples: Ii Lease (Tenneco Inc /De)

Temporary Condemnation or Lease Termination. Notwithstanding any other ------------------------------------------- provision to the contrary contained in this Section paragraph 12, in the event of any temporary Condemnation, Condemnation this Lease shall remain in full force and effect, and provided no Special Incipient Default or Default, Event of Default or Major Environmental Event has occurred and is continuing, the Lessee shall be entitled to receive the Net Proceeds allocable to such temporary Condemnation, except that if this Lease shall expire or terminate during such temporary Condemnation, then the Lessee shall only be entitled to the Net Proceeds allocable to the period after the termination or expiration of this Lease only if it has purchased paid the Property pursuant to Section 14 hereofOffer Purchase Price for the Mill I Property.

Appears in 1 contract

Samples: Mill I Lease (Tenneco Inc /De)

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