Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years), this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 23 contracts
Samples: Hotel Lease Agreement, Hotel Lease Agreement (Apple REIT Ten, Inc.), Hotel Lease Agreement (Apple REIT Ten, Inc.)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Rent and Additional Charges, but only to the extent of the Award made to Lessee for such Condemnation allocable to the Term. In addition, to the extent of the remaining balance, if any, of the Award made for such Condemnation allocable to the Term (after payment of Base Rent and Additional Charges), Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal full Lease Years (or if three (3) Fiscal full Lease Years shall not have elapsed, the average during the preceding Fiscal full Lease Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at to the extent that its sole cost Award is sufficient therefor and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 9 contracts
Samples: Lease Agreement (Hersha Hospitality Trust), Lease Agreement (Innkeepers Usa Trust/Fl), Lease Agreement (Hersha Hospitality Trust)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years), this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 8 contracts
Samples: Master Hotel Lease Agreement (Apple Hospitality Two Inc), Hotel Lease Agreement (Apple Suites Inc), Lease Agreement (Felcor Suite Hotels Inc)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (occupancy, which for purposes hereof shall mean a period not to exceed two years)(2) weeks or less, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional ChargesCharges with respect to such Leased Property. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to LesseeLessor. Lessee Lessor covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 6 contracts
Samples: Lease Agreement (American Realty Capital Hospitality Trust, Inc.), Lease Agreement (American Realty Capital Hospitality Trust, Inc.), Lease Agreement (American Realty Capital Hospitality Trust, Inc.)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee Lessee, however, shall continue be released from its obligations to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in described this Section 15.6 described15.6, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to LesseeLessor. Lessee Lessor covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee Lessor shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 5 contracts
Samples: Master Lease Agreement, Master Lease Agreement (Supertel Hospitality Inc), Master Lease Agreement (Supertel Hospitality Inc)
Temporary Taking. If Lessee agrees that if, at any time after the date hereof, the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned Lease, shall be Condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Rent (including Minimum Rent, Additional Charges and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal YearsRent). Except only to the extent that Lessee may be prevented from doing so doing pursuant to the terms of the order of the Condemnor, Lessee shall also continue to perform and observe all of the other terms, covenants, conditions and obligations hereof hereof, on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any such Condemnation as in this Section SECTION 15.6 described, the entire amount of any such Award made for such Condemnation allocable to the Term of this Leasetemporary use, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. , Lessee covenants that upon the termination of any such period of temporary use or of occupancy as set forth in this SECTION 15.6, it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore the Leased Property as nearly as may be reasonably possible possible, to the condition in which the same was immediately prior to such the Condemnation, unless such period of temporary use or occupancy extends shall extend beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor and in such case, Lessee shall contribute to the cost of such restoration that portion of its entire Award that which is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 4 contracts
Samples: Master Lease Agreement (Brookdale Senior Living Inc.), Master Lease Agreement (Brookdale Senior Living Inc.), Lease (Brookdale Senior Living Inc.)
Temporary Taking. If Lessee agrees that if, at any time after the date hereof, the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned Lease, shall be Condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Rent (including Minimum Rent, Additional Charges and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal YearsRent). Except only to the extent that Lessee may be prevented from doing so doing pursuant to the terms of the order of the Condemnor, Lessee shall also continue to perform and observe all of the other terms, covenants, conditions and obligations hereof hereof, on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any such Condemnation as in this Section 15.6 described, the entire amount of any such Award made for such Condemnation allocable to the Term of this Leasetemporary use, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. , Lessee covenants that upon the termination of any such period of temporary use or of occupancy as set forth in this Section 15.6, it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore the Leased Property as nearly as may be reasonably possible possible, to the condition in which the same was immediately prior to such the Condemnation, unless such period of temporary use or occupancy extends shall extend beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor and in such case, Lessee shall contribute to the cost of such restoration that portion of its entire Award that which is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 4 contracts
Samples: Lease (Alterra Healthcare Corp), Lease (Alterra Healthcare Corp), Master Lease Agreement (Alterra Healthcare Corp)
Temporary Taking. If the whole or any part of the Leased Property (other than the feefee or leasehold under a Ground Lease) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two yearsthe lesser of twelve (12) months or the remainder of the Term), this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee and, except for any portion thereof utilized for restoration, shall pay be deemed to be Room Revenues for the purpose of calculating the Percentage Rent at a rate equal to the average Percentage Rent payable hereunder during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years)such temporary taking. Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless (a) such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration, or (b) the condemnation award is inadequate to cover the costs of such restoration, in which case the provisions of Section 15.4 applicable to inadequate awards shall govern. If restoration is required in connection with such temporary taking and the condemnation award (together with any other sums Lessor elects, in its sole discretion, to advance) is adequate to pay the costs thereof, the provisions of Section 15.4 shall govern the disbursement of the awards (and other sums, if applicable) and the disposition of any awards in excess of restoration costs. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in advance of restoration in a manner reasonably satisfactory to Lessor.
Appears in 3 contracts
Samples: Lease Agreement (Bristol Hotels & Resorts Inc), Lease Agreement (Felcor Lodging Trust Inc), Lease Agreement (Felcor Suite Hotels Inc)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or of occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessorcosts.
Appears in 3 contracts
Samples: Lease Agreement (Strategic Hotel Capital Inc), Lease Agreement (Strategic Hotel Capital Inc), Lease Agreement (Strategic Hotel Capital Inc)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) Tenant's estate or of Lessee’s interest under this Lease is shall be taken or condemned by any Condemnor governmental agency or authority for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee Tenant shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsedRent, the average during the preceding Fiscal Years). Except Impositions and all other Additional Rent, and all other charges payable by Tenant hereunder, without any abatement or reduction thereof, and, except only to the extent that Lessee Tenant may be prevented from so doing pursuant to the terms of the order of the Condemnorcondemning authority, Lessee Tenant shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on upon the part of Lessee Tenant to be performed and observed, as though such Condemnation taking had not occurred. In the event of any Condemnation as in this Section 15.6 described, Tenant shall be entitled to receive the entire amount of any Award made award paid for or in connection with such Condemnation allocable to the Term of this Leasea taking, whether paid by way of damages, rent as rent, or otherwise, so long as Tenant shall not be in default hereunder; provided, however, that if the award is paid in a lump sum, or shall be payable less frequently than in monthly installments, the award shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Termheld jointly by Landlord and Tenant, in which case Lessee Landlord's and Tenant's names, in an interest-bearing account with a commercial banking organization designated by Landlord and such award shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.applied as follows:
Appears in 3 contracts
Samples: Dotronix Inc, Pemstar Inc, Pemstar Inc
Temporary Taking. If Lessee agrees that if, at any time after the date hereof, the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned Lease, shall be Condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Minimum Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from doing so doing pursuant to the terms of the order of the Condemnor, Lessee shall also continue to perform and observe all of the other terms, covenants, conditions and obligations hereof hereof, on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any such Condemnation as in this Section Paragraph 15.6 described, the entire amount of any such Award made for such Condemnation allocable to the Term of this Leasetemporary use, whether paid by way of damages, rent or otherwise, shall be paid to LesseeLessee to the extent attributable to any period within the Term (as extended by any already exercised options to extend or options thereafter timely exercised if applicable). Lessee covenants that upon the termination of any such period of temporary use or occupancy as set forth in this Paragraph 15.6, it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore the Leased Property as nearly as may be reasonably possible possible, to the condition in which the same was immediately prior to such the Condemnation, unless such period of temporary use or occupancy extends shall extend beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor and in such case, Lessee shall contribute to the cost of such restoration that portion of its entire Award that which is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 3 contracts
Samples: Lease (LTC Healthcare Inc), Lease (LTC Healthcare Inc), Lease And (LTC Healthcare Inc)
Temporary Taking. If there is a Partial Taking of possession or the use of all or part of a Leased Property, but the fee of such Leased Property is not Taken in whole or any part in part, until such Partial Taking of possession or use continues for more than six (6) months, all the Leased Property (other than the fee) or provisions of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years), this Lease shall not terminate by reason thereof, remain in full force and Lessee shall continue to pay, in the manner effect and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, Partial Taking shall be paid to LesseeLessee provided there is then no Event of Default. Lessee covenants that upon Upon the termination of any such period of temporary use or occupancy it willoccupancy, Lessee at its sole cost and expense (subject to Lessor’s contribution as set forth below), shall restore the affected Leased Property Property, as nearly as may be reasonably possible possible, to the condition in which the same was existing immediately prior to such CondemnationPartial Taking. If any such Partial Taking continues for longer than six (6) months, unless such period of temporary use and fifty percent (50%) or occupancy extends beyond the expiration more of the Termpatient capacity of the affected Facility is thereby rendered Unsuitable for Its Primary Use, in which case this Lease shall cease and terminate as to the affected Leased Property only as of the last day of the sixth (6th) month, but if less than fifty percent (50%) of the patient capacity of such Facility is thereby rendered Unsuitable for Its Primary Use, each of Lessee shall not be required to make such restoration. If restoration is required hereunder, and Lessor shall contribute have the option, which shall be exercisable by giving written Notice to the cost of such restoration that portion of its entire Award that is specifically allocated other at least sixty (60) days prior written Notice to such restoration in the judgment or order other, at any time prior to the end of the courttemporary Partial Taking, if anyto terminate this Lease as to the affected Leased Property of the date set forth in such Notice, and Lessee shall fund be entitled to any Award made for the balance period of such costs in a manner reasonably satisfactory temporary Partial Taking prior to Lessorthe date of termination of the Lease. Rent shall not axxxx during the period of any temporary Partial Taking.
Appears in 3 contracts
Samples: Operations Transfer Agreement (Omega Healthcare Investors Inc), Master Lease (Omega Healthcare Investors Inc), Master Lease (Omega Healthcare Investors Inc)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Rent and Additional Charges, but only to the extent of the net (i.e. after deduction of all costs, expenses, and other obligations attendant to such Condemnation have been paid) Award made to Lessee for such Condemnation allocable to the term of this Lease. In addition, to the extent of the remaining balance, if any, of the net Award made for such Condemnation allowable to the term of this Lease (after payment of Base Rent and Additional Charges), Lessee shall pay Percentage Participating Rent at a rate equal to the average Percentage Participating Rent during the last three (3) preceding Fiscal Lease Years (or if three (3) Fiscal Lease Years shall not have elapsed, the average during the preceding Fiscal Lease Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at to the extent that its sole cost Award is sufficient therefor and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall shall, having sought a fair and equitable allocation as provided in Section 15.5 above, contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 3 contracts
Samples: Lease Agreement (Capstar Hotel Co), Lease Agreement (American General Hospitality Corp), Purchase and Sale Agreement (Prime Hospitality Corp)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or of occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessorcosts.
Appears in 3 contracts
Samples: Consolidated Lease Agreement (Equity Inns Inc), Consolidated Lease Agreement (Equity Inns Inc), Lease Agreement (Equity Inns Inc)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Rent and Additional Charges, but only to the extent of the Award made to Lessee for such Condemnation allocable to the Term. In addition, to the extent of the remaining balance, if any, of the Award made for such Condemnation allocable to the Term (after payment of Base Rent and Additional Charges), Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal full Lease Years (or if three (3) Fiscal full Lease Years shall not have elapsed, the average during the preceding Fiscal full Lease Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at to the extent that its sole cost Award is sufficient therefor and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.. ARTICLE ------- 16
Appears in 2 contracts
Samples: Lease Agreement (Hersha Hospitality Trust), Lease Agreement (Hersha Hospitality Trust)
Temporary Taking. If In the event of a Taking of the whole or any part of the Leased Property (other than the fee) Demised Premises or of Lessee’s Tenant's interest under in this Lease is condemned by any Condemnor for its a temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, the Term of this Lease shall not terminate by reason thereof, be reduced or affected in any way and Lessee Tenant shall continue to paypay in full the Rent and other charges herein reserved, without reduction or abatement, in the manner and at the terms times herein specifiedspecified and, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except except only to the extent that Lessee may be Tenant is prevented from so doing pursuant to the terms of the order of the Condemnorcondemning authority, Lessee Tenant shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part terms of Lessee to be performed and observed, this Lease as though such Condemnation temporary taking had not occurred. In However, Tenant shall be entitled to the event portion of any Condemnation as in this Section 15.6 described, the entire amount of any Award made award or compensation for such Condemnation allocable temporary Taking (after subtraction of all necessary and proper expenses of collection incurred by Landlord) equal to the Rents payable hereunder during the period covered, together with such additional reasonable and actual expenses as Tenant incurs in connection with relocation to alternate space for the period of such temporary Taking. The balance of the award and compensation shall be payable to Landlord. In addition, Landlord shall be entitled to collect from such award the total estimated cost of restoring the Demised Premises after the termination of such temporary use, which amount shall be made available to Tenant when and if, during the Term of this Lease, whether paid by way of damages, rent or otherwise, Tenant shall be paid to Lessee. Lessee covenants that upon obtain possession and shall proceed with restoring the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property same as nearly as may be reasonably possible to the condition in conditions which the same was Demised Premises were immediately prior to such Condemnationtemporary Taking, unless with such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required changes and alterations as Tenant may elect to make such restoration. If restoration is required hereunder, Lessor shall contribute to at its own expense in conformity with the cost provisions of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to LessorArticle 9.
Appears in 2 contracts
Samples: Lease (Credit Suisse First Boston Usa Inc), Credit Suisse First Boston Usa Inc
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal but, if the entire Leased Property is so condemned, only to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years)extent of net proceeds of condemnation awards. Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 15.5 described, the entire amount of any Award made for such Condemnation allocable to the Term of this LeaseTerm, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee Lessor covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee Lessor shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 2 contracts
Samples: Percentage Lease Agreement (Realty Refund Trust), Percentage Lease Agreement (Boykin Lodging Trust Inc)
Temporary Taking. If the whole or any part of any portion of the Leased Property (other than the fee) or of LesseeTenant’s interest under this Lease is condemned shall be the subject of a Taking or Condemnation by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereofterminate, and Lessee Tenant shall continue to pay, in the manner and at the terms times herein specified, the full amounts amount of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years)Rent. Except only to the extent that Lessee Tenant may be prevented from so doing pursuant to the terms of any order for the order benefit of the Condemnor, Lessee Tenant shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee Tenant to be performed and observed, observed as though such Taking or Condemnation had not occurred. In the event of Upon any such Taking or Condemnation as described in this Section 15.6 describedSection, the entire amount of any such Award made for such Taking or Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent Rent or otherwise, shall be paid to LesseeTenant. Lessee If any part of such Award is allocable for a period beyond the term of this Lease, that part shall be paid to Landlord. Tenant covenants that upon the termination of any such period of temporary use or occupancy it as set forth in this Section, Tenant will, at its sole cost and expense (subject to Lessor’s any contribution by Landlord as set forth belowin Section 16.5), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Taking or Condemnation, unless such period of temporary use or occupancy extends shall extend beyond the expiration of the Term, in which case Lessee Tenant shall not be required to make such restoration. If restoration is required hereunderbut shall pay to Landlord from the Award received by Tenant and not applied by Tenant to satisfy its Rent obligations during the period of such Taking, Lessor shall contribute to the cost costs of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessorwork.
Appears in 2 contracts
Samples: Master Lease (Newcastle Investment Corp), Master Lease (National Health Investors Inc)
Temporary Taking. If there is a Taking of possession or the use of all or part of a Leased Property, but the fee of such Leased Property is not Taken in whole or any part in part, until such Taking of possession or use continues for more than six (6) months, all the Leased Property (other than the fee) or provisions of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years), this Lease shall not terminate by reason thereof, remain in full force and Lessee shall continue to pay, in the manner effect and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, Taking shall be paid to LesseeLessee provided there is then no Event of Default. Lessee covenants that upon Upon the termination of any such period of temporary use or occupancy it willoccupancy, Lessee at its sole cost and expense (subject to Lessor’s contribution as set forth below), shall restore the affected Leased Property Property, as nearly as may be reasonably possible possible, to the condition in which the same was existing immediately prior to such CondemnationTaking. If any temporary Taking continues for longer than six (6) months, unless and fifty percent (50%) or more of any Leased Property is thereby rendered Unsuitable for Its Primary Use, this Lease shall cease and terminate as to the affected Leased Property as of the last day of the sixth (6th) month, but if less than fifty percent (50%) of such Facility is thereby rendered Unsuitable for Its Primary Use, Lessee and Lessor shall each have the option by at least sixty (60) day's prior written Notice to the other, at any time prior to the end of the temporary taking, to terminate this Lease as to the affected Leased Property of the date set forth in such Notice, and Lessor shall be entitled to any Award made for the period of such temporary use or occupancy extends beyond Taking prior to the expiration date of termination of the Term, in which case Lessee Lease. In no event shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to Rent or any Additional Charges abate during the cost period of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessorany temporary Taking.
Appears in 2 contracts
Samples: Master Lease (Williams Communications Group Inc), Credit Agreement (Williams Companies Inc)
Temporary Taking. If Lessee agrees that if, at any time after the date hereof, the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned Lease, shall be Condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Minimum Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from doing so doing pursuant to the terms of the order of the Condemnor, Lessee shall also continue to perform and observe all of the other terms, covenants, conditions and obligations hereof hereof, on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any such Condemnation as in this Section Paragraph 15.6 described, the entire amount of any such Award made for such Condemnation allocable to the Term of this Leasetemporary use, whether paid by way of damages, rent or otherwise, shall be paid to LesseeLessee to the extent attributable to any period within the Initial Term (as extended by any already exercised options to extend) and except as otherwise provided hereunder. Notwithstanding the foregoing, in the event that any temporary use or occupancy covered under this Paragraph 15.6 renders any portion of the Leased Property Unsuitable for its Primary Intended Use for a period in excess of twelve (12) calendar months, Lessee shall have the right to elect a reduction in Minimum Rent as set forth in Paragraph 5.2 commencing on the twelve (12) month anniversary of any such use or occupancy and continuing so long as such temporary use or occupancy continues, in which event any Award made for such temporary use or occupancy shall be paid to Lessor to the extent attributable to the period that Minimum Rent is so abated. Lessee covenants that upon the termination of any such period of temporary use or occupancy as set forth in this Paragraph 15.6, it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore the Leased Property as nearly as may be reasonably possible possible, to the condition in which the same was immediately prior to such the Condemnation, unless such period of temporary use or occupancy extends shall extend beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor and in such case, Lessee shall contribute to the cost of such restoration that portion of its entire Award that which is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 2 contracts
Samples: Lease (Tesseract Group Inc), Lease (New York Bagel Enterprises Inc)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts amount of all Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as is in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Termterm, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in advance of restoration in a manner reasonably satisfactory to Lessor.
Appears in 2 contracts
Samples: Lease Agreement (Crescent Real Estate Equities Inc), Lease Agreement (Crescent Real Estate Equities Inc)
Temporary Taking. If the temporary use of the whole or any part of the Leased Property (other than Premises shall be taken at any time during the fee) Term for any public or of Lessee’s interest under this Lease is condemned quasi-public purpose by any Condemnor for its temporary use lawful power or occupancy (which shall mean a period not authority, by the exercise of the right of condemnation or eminent domain, or by agreement between Tenant and those authorized to exceed two years)exercise such right, the term of this Lease shall not terminate by reason thereof, be reduced or affected in any way and Lessee Tenant shall continue to paypay in full the fixed rent, in the manner additional rent and at the terms other sum or sums of money and charges herein specifiedreserved and provided to be paid by Tenant and, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal subject to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms other provisions of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described7.3 and except as hereinafter provided, Tenant shall be entitled to receive any award or payment for such use and Landlord and Tenant shall join in a single action for the entire amount recovery of such award or payment. If such taking is for a period extending beyond the Term and if any Award award or payment made for such Condemnation allocable use is made in a lump sum, such award or payment shall be apportioned between Landlord and Tenant as of the date of expiration of the Term. If such taking results in changes or alterations in the Premises which would necessitate an expenditure, after repossession, to restore it to its former condition and such award or payment includes an amount (whether or not specified) to compensate for such expenditures and is made prior to the expiration of the Term of this Lease, whether paid by way then the amount of damagessuch award or payment specified as compensation for the expenses of such restoration or, rent if no such amount is specified, such portion of such award or otherwisepayment as is sufficient, in the reasonable opinion of Landlord, to cover such expenses, shall be paid to LesseeLandlord in trust. Lessee covenants If possession of the Premises shall revert to Tenant prior to the expiration date of the Term, Tenant shall restore the Premises as aforesaid and in all other respects indemnify and save harmless Landlord from the effects of such taking so that the Premises in every respect shall upon completion of such restoration be the same as though no such taking had occurred, and upon completion of such restoration the portion, if any, of the award or payment deposited with Landlord pursuant to this Section 7.3 shall be paid over to Tenant, but if Tenant shall not restore the Premises and indemnify Landlord, said sum so deposited shall be applied by Landlord toward Landlord's damages occasioned by Tenant's such default, and if possession of the Premises shall revert to Landlord after the expiration of the term of this Lease, Landlord shall pay over said sum so deposited itself absolutely and without apportionment. If the lump sum or payment in question is made on or after the expiration of the Term then the amount of such award or payment specified, such portion of such award or payment as is sufficient to cover such expenses, shall be paid to and retained by Landlord absolutely and Tenant shall thereupon be excused from any obligation to restore the Premises upon the termination of such temporary taking, except that any such period of temporary use or occupancy it will, at its sole cost and expense (subject obligation that may have accrued for Tenant to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible Premises prior to the condition in which commencement of said temporary taking shall continue to be the same was immediately prior to such Condemnation, unless such period obligation of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to LessorTenant.
Appears in 2 contracts
Samples: Viryanet LTD, Viryanet LTD
Temporary Taking. If there is a Taking of possession or the use of all or part of a Leased Property, but the fee of such Leased Property is not Taken in whole or any part in part, until such Taking of possession or use continues for more than six (6) months, all the Leased Property (other than the fee) or provisions of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years), this Lease shall not terminate by reason thereof, remain in full force and Lessee shall continue to pay, in the manner effect and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, Taking shall be paid to LesseeLessee provided there is then no Event of Default. Lessee covenants that upon Upon the termination of any such period of temporary use or occupancy it willoccupancy, Lessee at its sole cost and expense (subject to Lessor’s contribution as set forth below), shall restore the affected Leased Property Property, as nearly as may be reasonably possible possible, to the condition in which the same was existing immediately prior to such CondemnationTaking. If any temporary Taking continues for longer than six (6) months, unless such period of temporary use and fifty percent (50%) or occupancy extends beyond the expiration more of the Termpatient capacity of the affected Facility is thereby rendered Unsuitable for Its Primary Use, in which case such Taking shall be considered a Total Taking governed by Section 15.1 and this Lease shall cease and terminate as to the affected Leased Property only as of the last day of the sixth (6th) month, but if less than fifty percent (50%) of the patient capacity of such Facility is thereby rendered Unsuitable for Its Primary Use, Lessee shall not be required to make such restoration. If restoration is required hereunder, and Lessor shall contribute each have the option by at least sixty (60) day's prior written Notice to the cost of such restoration that portion of its entire Award that is specifically allocated other, at any time prior to such restoration in the judgment or order end of the courttemporary taking, if anyto terminate this Lease as to the affected Leased Property of the date set forth in such Notice, and Lessee shall fund be entitled to any Award made for the balance period of such costs in a manner reasonably satisfactory temporary Taking prior to Lessorthe date of termination of the Lease. Rent shall not xxxxx during the period of any temporary Taking.
Appears in 2 contracts
Samples: Master Lease (Omega Healthcare Investors Inc), Master Lease (Omega Healthcare Investors Inc)
Temporary Taking. If Lessee agrees that if, at any time after the date hereof, the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned Lease, shall be Condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Minimum Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from doing so doing pursuant to the terms of the order of the Condemnor, Lessee shall also continue to perform and observe all of the other terms, covenants, conditions and obligations hereof hereof, on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any such Condemnation as in this Section Paragraph 15.6 described, the entire amount of any such Award made for such Condemnation allocable to the Term of this Leasetemporary use, whether paid by way of damages, rent or otherwise, shall be paid to LesseeLessee to the extent attributable to any period within the Initial Term (as extended by any already exercised options to extend) and except as otherwise provided hereunder. Notwithstanding the foregoing, in the event that any temporary use or occupancy covered under this Paragraph 15.6 renders any portion of the Leased Property Unsuitable for its Primary Intended Use (or otherwise reduces the number of residents the Leased Property can accommodate) for a period in excess of twelve (12) calendar months, Lessee shall have the right to elect a reduction in Minimum Rent as set forth in Paragraph 5.2 commencing on the twelve (12) month anniversary of any such use or occupancy and continuing so long as such temporary use or occupancy continues, in which event any Award made for such temporary use or occupancy shall be paid to Lessor to the extent attributable to the period that Minimum Rent is so abated. Lessee covenants that upon the termination of any such period of temporary use or occupancy as set forth in this Paragraph 15.6, it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore the Leased Property as nearly as may be reasonably possible possible, to the condition in which the same was immediately prior to such the Condemnation, unless such period of temporary use or occupancy extends shall extend beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor and in such case, Lessee shall contribute to the cost of such restoration that portion of its entire Award that which is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 2 contracts
Samples: Lease (Sterling House Corp), Lease (New York Bagel Enterprises Inc)
Temporary Taking. If the whole or any part of the Leased Property ----------------- (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years), this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 2 contracts
Samples: Master Hotel Lease Agreement (Apple Hospitality Two Inc), Hotel Lease Agreement (Apple Suites Inc)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of the Base Rent, Percentage Rent and Additional Charges. In addition, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee and, except for any portion thereof utilized for restoration, shall pay be deemed to be Room Revenues for the purpose of calculating the Percentage Rent at a rate equal to the average Percentage Rent payable hereunder during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years)such temporary taking. Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless (a) such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration, or (b) the condemnation award is inadequate to cover the costs of such restoration, in which case the provisions of Section 15.5 applicable to inadequate awards shall govern. If restoration is required in connection with such temporary taking and the condemnation award (together with any other sums Lessor elects, in its sole discretion, to advance) is adequate to pay the costs thereof, the provisions of Section 15.5 shall govern the disbursement of the awards (and other sums, if applicable) and the disposition of any awards in excess of restoration costs. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in advance of restoration in a manner reasonably satisfactory to Lessor.
Appears in 2 contracts
Samples: Lease Agreement (MHI Hospitality CORP), Lease Agreement (MHI Hospitality CORP)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) Premises or of the Lessee’s 's interest under this Lease is be taken or condemned by any Condemnor competent authority for its or their temporary use or occupancy (which shall mean for a period not to exceed two years)which is fewer than four (4) months, this Lease shall not terminate by reason thereof, thereof and Lessee shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Rent the annual rent and Additional Charges. In additionall other charges payable by Lessee hereunder, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsedand, the average during the preceding Fiscal Years). Except except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnorcondemning authority, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of imposed upon Lessee to be performed and observedunder this Lease, as though such Condemnation taking or condemnation had not occurred. In If the whole or any part of the Premises or the Lessee's interest in this Lease be taken or condemned by a competent authority for its or their temporary use or occupancy for a period which is in excess of 4 months, this lease may be terminated at the option of Lessee upon notice given within thirty (30) days of the taking or condemnation. Notwithstanding anything to the contrary herein, in the event of any Condemnation temporary taking or condemnation the Lessee shall, if this Lease has not been terminated as provided in this Section 15.6 describedParagraph 15.4, be entitled to receive the entire amount of any Award award made for such Condemnation allocable to the Term of this Leasetaking or condemnation, whether paid by way of damages, rent Rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends shall extend to or beyond the expiration of the TermExpiration Date, in which case such award shall be apportioned between the Lessor and the Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost as of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to LessorExpiration Date.
Appears in 2 contracts
Samples: Exponent Inc, Nexthealth Inc
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee Lessee, however, shall continue be released from its obligations to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in described this Section 15.6 described15.6, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to LesseeLessor. Lessee Lessor covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee Lessor shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 2 contracts
Samples: Master Lease Agreement (Humphrey Hospitality Trust Inc), Master Lease Agreement (Humphrey Hospitality Trust Inc)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s Tenant's interest under this Lease is shall be taken or condemned by any Condemnor for its temporary use or occupancy (which shall mean for a period of not to exceed two years)more than one hundred-eighty (180) days, this Lease shall not terminate by reason thereofterminate, and Lessee Tenant shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Rent Rent, Percentage Rent, if any, and Additional Charges. In addition, Lessee provided that during any such Temporary Taking Tenant shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) immediately preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the last preceding Fiscal YearsYears occurring during the Term). Except only to the extent that Lessee Tenant may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee Tenant shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee the Tenant to be performed and observed, observed as though such Taking or Condemnation had not occurred. In the event of Upon any such Taking or Condemnation as described in this Section 15.6 describedSection, the entire amount of any such Award made for such Taking or Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent Rent or otherwise, shall be paid to LesseeTenant. Lessee Tenant covenants that upon the termination of any such period of temporary use Taking or occupancy it Condemnation set forth in this Section, Tenant will, at its sole cost and expense (subject to Lessor’s any contribution by Landlord as set forth belowin Section 16.5), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Taking or Condemnation, unless such period of temporary use or occupancy extends shall expire less than six months prior to termination of this Lease or extend beyond the expiration of the Term, in which case Lessee Tenant shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 2 contracts
Samples: California Facilities Security Agreement (Iasis Healthcare Corp), Iasis Healthcare Corp
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) ---------------- or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee Lessee, however, shall continue be released from its obligations to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in described this Section 15.6 described15.6, the ------------ entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to LesseeLessor. Lessee Lessor covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee Lessor shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Samples: Master Lease Agreement (Humphrey Hospitality Trust Inc)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee and, except for any portion thereof utilized for restoration, shall pay be deemed to be Room Revenue for the purpose of calculating the Percentage Rent at a rate equal to the average Percentage Rent payable hereunder during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years)such temporary taking. Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless (a) such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration, or (b) the condemnation award is inadequate to cover the costs of such restoration, in which case the provisions of Section 15.5 applicable to inadequate awards shall govern. If restoration is required in connection with such temporary taking and the condemnation award (together with any other sums Lessor elects, in its sole discretion, to advance) is adequate to pay the costs thereof, the provisions of Section 15.5 shall govern the disbursement of the awards (and other sums, if applicable) and the disposition of any awards in excess of restoration costs. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in advance of restoration in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Temporary Taking. If there is a Taking of possession or the use of all or part of a Leased Property, but the fee of such Leased Property is not Taken in whole or any part in part, 54 61 until such Taking of possession or use continues for more than six (6) months, all the Leased Property (other than the fee) or provisions of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years), this Lease shall not terminate by reason thereof, remain in full force and Lessee shall continue to pay, in the manner effect and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, Taking shall be paid to LesseeLessee provided there is then no Event of Default. Lessee covenants that upon Upon the termination of any such period of temporary use or occupancy it willoccupancy, Lessee at its sole cost and expense (subject to Lessor’s contribution as set forth below), shall restore the affected Leased Property Property, as nearly as may be reasonably possible possible, to the condition in which the same was existing immediately prior to such CondemnationTaking. If any temporary Taking continues for longer than six (6) months, unless such period of temporary use and fifty percent (50%) or occupancy extends beyond the expiration more of the Termpatient capacity of the affected Facility is thereby rendered Unsuitable for Its Primary Use, in which case such Taking shall be considered a Total Taking governed by Section 15.1 and this Lease shall cease and terminate as to the affected Leased Property only as of the last day of the sixth (6th) month, but if less than fifty percent (50%) of the patient capacity of such Facility is thereby rendered Unsuitable for Its Primary Use, Lessee shall not be required to make such restoration. If restoration is required hereunder, and Lessor shall contribute each have the option by at least sixty (60) day's prior written Notice to the cost of such restoration that portion of its entire Award that is specifically allocated other, at any time prior to such restoration in the judgment or order end of the courttemporary taking, if anyto terminate this Lease as to the affected Leased Property of the date set forth in such Notice, and Lessee shall fund be entitled to any Award made for the balance period of such costs in a manner reasonably satisfactory temporary Taking prior to Lessorthe date of termination of the Lease. Rent shall not abatx xxxing the period of any temporary Taking.
Appears in 1 contract
Samples: Master Lease (Advocat Inc)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s interest under this Lease Hotel is condemned by any Condemnor for its temporary use or occupancy (occupancy, which nevertheless renders the Hotel Unsuitable or Uneconomic for its Primary Intended Use, Owner and Manager shall mean a period not each have the option, by notice to exceed two years)the other, at any time prior to the Date of Taking, to terminate this Agreement as of the Date of Taking. Upon such date, if such notice has been given, this Lease Agreement shall thereupon cease and terminate. If this Agreement terminates pursuant to this Section 10.05, Owner shall pay Manager the Termination Fee, Manager will comply with the provisions of Section 5.05, and Owner shall be solely entitled to any Award. If, however, the whole or any part of the Hotel is condemned by any Condemnor for its temporary use or occupancy, and the Hotel is still suitable for its Primary Intended Use, and not Uneconomic for its Primary Intended Use, this Agreement shall not terminate by reason thereof, and Lessee shall the Manager's Return and Owner's Return will continue to paypaid, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent Manager's Return and Owner's Return during the last three (3) preceding Fiscal Operating Years (or if three (3) Fiscal Operating Years shall not have elapsed, the average during the preceding Fiscal Operating Years)) to the extent of any business interruption insurance and condemnation proceeds that are received by Manager. Except only to the extent that Lessee Manager may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee Manager shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee the Manager to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable Condemnation, to the Term of this Leaseextent required to make all payments required under Section 7.01 herein, whether paid by way of damages, rent or otherwiseincluding the Manager's Return and Owner's Return as set forth above, shall be paid deposited in the Hotel Accounts and disbursed by Manager, with the balance to Lesseebe retained by Owner. Lessee Owner covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore the Leased Property Hotel as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or of occupancy extends beyond the expiration of the Term, in which case Lessee Owner shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Temporary Taking. If the whole or any part of the a Leased Property (other than the fee) or of Lessee’s 's interest under this Master Lease is condemned by any Condemnor for its temporary use or occupancy (occupancy, which for purposes hereof shall mean a period not to exceed two years)(2) weeks or less, this Master Lease shall not terminate with respect to such Leased Property by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional ChargesCharges with respect to such Leased Property. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Master Lease, whether paid by way of damages, rent or otherwise, shall be paid to LesseeLessor. Lessee Lessor covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Temporary Taking. If the whole all or any part portion of the Leased Property (other than Premises shall be taken by the fee) or exercise of Lessee’s interest under this Lease is condemned by any Condemnor the right of eminent domain for its temporary use or occupancy (which shall mean for a period not to exceed two years)limited period, this Lease shall not terminate by reason thereof, continue in full force and Lessee effect and Tenant shall continue to paypay in full the Base Rent, in the manner and at the terms herein specified, the full amounts of Base Additional Rent and Additional Charges. In additionother charges payable hereunder, Lessee without reduction or abatement, and Tenant shall pay Percentage Rent at a rate be entitled to receive, for itself, so much of any award or payment made for such use as is equal to the average Percentage Rent aforementioned payments that are actually made by Tenant to Landlord during such temporary taking, except as hereinafter provided, and Landlord shall receive the last three balance thereof. If such award or payment is made in a lump sum, Landlord shall receive out of such lump sum (3and Tenant shall be credited with) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only an amount equal to the extent that Lessee may total of the Base Rent, Additional Rent and other charges payable under this Lease for the period of such taking (less any amounts theretofore paid by Tenant to Landlord attributable to the period of such taking), and such amount received by Landlord shall be prevented held by Landlord as a fund which Landlord shall apply from so doing pursuant time to time to the payments due to Landlord from Tenant under the terms of the order this Lease. Out of the Condemnorbalance of such sum, Lessee if any, Tenant shall continue be paid an amount equal to perform the amounts, if any, theretofore paid by Tenant to Landlord attributable to the period of such taking, and observe all Landlord shall be paid the remainder of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had balance. If such taking is for a period not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to extending beyond the Term of this Lease, whether paid by way and if such taking results in changes or Alterations in the Premises which would necessitate an expenditure to restore the Premises to its former condition, then Tenant at the termination of damagessuch taking shall, rent at its expense, restore the Premises to its former condition, and such portion of the award or otherwisepayment payable to Landlord, if any, in excess of the Base Rent, Additional Rent and other charges for the period of such taking as is necessary to cover the expenses of such restoration shall be applied to such restoration, and the balance necessary, if any, shall be paid to Lesseeby Tenant. Lessee covenants that upon Tenant shall also pay all fees, costs and expenses of every character and kind of Landlord incurred in connection with such limited taking and obtaining the termination of any such period of temporary use or occupancy it willaward therefor, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make connection with such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Temporary Taking. If If, at any time during the Term, the whole or any part of the Leased Property (other than the fee) Premises or of Lessee’s interest under this Lease is condemned the Improvements shall be taken in condemnation proceedings or by any Condemnor right of eminent domain for its temporary use or occupancy (which shall mean a period not to exceed two years), “Temporary Taking”) the foregoing provisions of this Lease Article shall not terminate by reason thereof, apply and Lessee Tenant shall continue to pay, in the manner and at the terms herein specifiedtimes specified in this Lease, the full amounts of the Base Rent and all Additional Charges. In additionRent and other charges payable by Tenant under this Lease, Lessee and Tenant shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on of this Lease upon the part of Lessee Tenant to be performed and observedobserved with respect to that portion of the Leased Premises not subject to the Temporary Taking, as though such Condemnation taking had not occurred. In the event of any Condemnation as in this Section 15.6 describedsuch Temporary Taking, Tenant shall be entitled to receive the entire amount of any the Award made for such Condemnation allocable to the Term of this Leasetaking, whether paid by way of damages, rent or otherwiseotherwise unless such period of temporary use or occupancy shall extend beyond the termination of this Lease, in which case the Award shall be paid to Lesseeapportioned between Landlord and Tenant as of the date of termination of this Lease. Lessee Tenant covenants that that, upon the termination expiration of any such period of temporary use or occupancy it during the Lease term, Tenant will, at its sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore the Leased Property Improvements, as nearly as may be reasonably possible possible, to the condition in which the same was immediately prior to such Condemnationtaking, unless wear and tear during such temporary use or occupancy excepted. To the extent that Landlord receives any portion of the Award as compensation for the cost of restoration or repair of the Improvements, Landlord shall, upon receipt thereof, promptly pay such sum to Tenant. Any portion of the Award received by Tenant as compensation for the cost of restoration of the Improvements shall, if such period of temporary use or occupancy extends shall extend beyond the expiration term of this Lease, be paid to Landlord on the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost date of such restoration that portion termination of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessorthis Lease.
Appears in 1 contract
Samples: Industrial Facility Lease (FreightCar America, Inc.)
Temporary Taking. If there is a Partial Taking of possession or the use of all or part of a Leased Property, but the fee of such Leased Property is not Taken in whole or any part in part, until such Partial Taking of possession or use continues for more than six (6) months, all the Leased Property (other than the fee) or provisions of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years), this Lease shall not terminate by reason thereof, remain in full force and Lessee shall continue to pay, in the manner effect and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, Partial Taking shall be paid to LesseeLessee provided there is then no Event of Default. Lessee covenants that upon Upon the termination of any such period of temporary use or occupancy it willoccupancy, Lessee at its sole cost and expense (subject to Lessor’s contribution as set forth below), shall restore the affected Leased Property Property, as nearly as may be reasonably possible possible, to the condition in which the same was existing immediately prior to such CondemnationPartial Taking. If any such Partial Taking continues for longer than six (6) months, unless such period of temporary use and fifty percent (50%) or occupancy extends beyond the expiration more of the Termpatient capacity of the affected Facility is thereby rendered Unsuitable for Its Primary Use, in which case this Lease shall cease and terminate as to the affected Leased Property only as of the last day of the sixth (6th) month, but if less than fifty percent (50%) of the patient capacity of such Facility is thereby rendered Unsuitable for Its Primary Use, each of Lessee shall not be required to make such restoration. If restoration is required hereunder, and Lessor shall contribute have the option, which shall be exercisable by giving written Notice to the cost of such restoration that portion of its entire Award that is specifically allocated other at least sixty (60) days prior written Notice to such restoration in the judgment or order other, at any time prior to the end of the courttemporary Partial Taking, if anyto terminate this Lease as to the affected Leased Property of the date set forth in such Notice, and Lessee shall fund be entitled to any Award made for the balance period of such costs in a manner reasonably satisfactory temporary Partial Taking prior to Lessorthe date of termination of the Lease. Rent shall not xxxxx during the period of any temporary Partial Taking.
Appears in 1 contract
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of the Base Rent, Percentage Rent and Additional Charges. In addition, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee and, except for any portion thereof utilized for restoration, shall pay be deemed to be Room Revenues for the purpose of calculating the Percentage Rent at a rate equal to the average Percentage Rent payable hereunder during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years)such temporary taking. Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless (a) such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration, or (b) the condemnation award is inadequate to cover the costs of such restoration, in which case the provisions of SECTION 15.5 applicable to inadequate awards shall govern. If restoration is required in connection with such temporary taking and the condemnation award (together with any other sums Lessor elects, in its sole discretion, to advance) is adequate to pay the costs thereof, the provisions of SECTION 15.5 shall govern the disbursement of the awards (and other sums, if applicable) and the disposition of any awards in excess of restoration costs. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall shall, fund the balance of such costs in advance of restoration in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Samples: Lease Agreement (Capital Lodging)
Temporary Taking. If Lessee agrees that if, at any time after the date hereof, the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned Lease, shall be Condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Minimum Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from doing so doing pursuant to the terms of the order of the Condemnor, Lessee shall also continue to perform and observe all of the other terms, covenants, conditions and obligations hereof hereof, on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any such Condemnation as in this Section Paragraph 15.6 described, the entire amount of any such Award made for such Condemnation allocable to the Term of this Leasetemporary use, whether paid by way of damages, rent or otherwise, shall be paid to LesseeLessee to the extent attributable to any period within the Initial Term (as extended by any already exercised options to extend) and except as otherwise provided hereunder. Notwithstanding the foregoing, in the event that any temporary use or occupancy covered under this Paragraph 15.6 renders any portion of the Leased Property Unsuitable for its Primary Intended Use (or otherwise reduces the number of residents the Leased Property can accommodate) for a period in excess of twelve (12) calendar months, Lessee shall have the right to elect a reduction in Minimum Rent as set forth in Paragraph 5.2 commencing on the twelve (12) month anniversary of any such use or occupancy and continuing so long as such temporary use or occupancy continues, in which event any Award made for such temporary use or occupancy shall be paid to Lessor to the extent attributable to the period that Minimum Rent is so abated. Lessee covenants that upon the termination of any such period of temporary use or occupancy as set forth in this Paragraph 15.6, it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore retore the Leased Property as nearly as may be reasonably possible possible, to the condition in which the same was immediately prior to such the Condemnation, unless such period of temporary use or occupancy extends shall extend beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor and in such case, Lessee shall contribute to the cost of such restoration that portion of its entire Award that which is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Temporary Taking. If the whole or any part of the Leased Property property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this LeaseTerm, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at to the extent that its sole cost Award made specifically with respect to restoration, repair, and expense (replacement of the Leased Premises is sufficient therefor and subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Temporary Taking. If the whole or any part of any portion of the Leased Property (other than the fee) or of LesseeTenant’s interest under this Lease is condemned shall be the subject of a Taking or Condemnation by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereofterminate, and Lessee Tenant shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years)Rent. Except only to the extent that Lessee Tenant may be prevented from so doing pursuant to the terms of any order for the order benefit of the Condemnor, Lessee Tenant shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee the Tenant to be performed and observed, observed as though such Taking or Condemnation had not occurred. In the event of Upon any such Taking or Condemnation as described in this Section 15.6 describedSection, the entire amount of any such Award made for such Taking or Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent Rent or otherwise, shall be paid to LesseeTenant. Lessee If any part of such Award is allocable for a period beyond the term of this Lease, that part shall be paid to Landlord. Tenant covenants that upon the termination of any such period of temporary use or occupancy it as set forth in this Section, Tenant will, at its sole cost and expense (subject to Lessor’s any contribution by Landlord as set forth belowin Section 16.5), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Taking or Condemnation, unless such period of temporary use or occupancy extends shall extend beyond the expiration of the Term, in which case Lessee Tenant shall not be required to make such restoration. If restoration is required hereunderbut shall pay to Landlord from the Award received by Tenant and not applied by Tenant to satisfy its Rent obligations during the period of such Taking, Lessor shall contribute to the cost costs of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessorwork.
Appears in 1 contract
Samples: Master Lease (Emeritus Corp\wa\)
Temporary Taking. If there is a Taking of possession or the use of all or part of a Leased Property, but the fee of such Leased Property is not Taken in whole or any part in part, until such Taking of possession or use continues for more than six (6) months, all the Leased Property (other than the fee) or provisions of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years), this Lease shall not terminate by reason thereof, remain in full force and Lessee shall continue to pay, in the manner effect and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, Taking shall be paid to LesseeLessee provided there is then no Event of Default. Lessee covenants that upon Upon the termination of any such period of temporary use or occupancy it willoccupancy, Lessee at its sole cost and expense (subject to Lessor’s contribution as set forth below), shall restore the affected Leased Property Property, as nearly as may be reasonably possible possible, to the condition in which the same was existing immediately prior to such CondemnationTaking. If any temporary Taking continues for longer than six (6) months, unless such period of temporary use and fifty percent (50%) or occupancy extends beyond the expiration more of the Termresident capacity of the affected Facility is thereby rendered Unsuitable for its Primary Intended Use, in which case this Lease shall cease and terminate as to the affected Leased Property as of the last day of the sixth (6th) month, but if less than fifty percent (50%) of the resident capacity of such Facility is thereby rendered Unsuitable for its Primary Intended Use, Lessee shall not be required to make such restoration. If restoration is required hereunder, and Lessor shall contribute each have the option by at least sixty (60) day's prior written Notice to the cost of such restoration that portion of its entire Award that is specifically allocated other, at any time prior to such restoration in the judgment or order end of the courttemporary taking, if anyto terminate this Lease as to the affected Leased Property on the date set forth in such Notice, and Lessee shall fund be entitled to any Award made for the balance period of such costs in a manner reasonably satisfactory temporary Taking prior to Lessorthe date of termination of the Lease. Rent shall not abatx xxxing the period of any temporary Taking.
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Temporary Taking. If the whole temporary use or occupancy of all or any part of the Leased Property (premises shall be lawfully taken by condemnation or in any other than manner for any public or quasi-public use or purpose during the fee) or term of the Lease, Lessee shall be entitled, except as hereinafter set forth, to receive that portion of the award for such taking which represents compensation for these and occupancy of the premises and, if so awarded, for the talking of Lessee’s interest under this Lease is condemned 's inventory, movable trade fixtures, machinery, and for moving expenses, and that portion which represents reimbursement for the cost of restoration of the premises. The I&= shall be and remain unaffected by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years), this Lease shall not terminate by reason thereof, such taking and Lessee shall be responsible for all obligations hereunder not affected by such taking and shall continue to paypay in full when due the fixed rent, in the manner additional rent, and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, all other sums required to be paid by Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms provisions of the order Lease provided, however, if the temporary taking exceeds a one hundred eighty (180) day period and results in Lessee being closed for business for a one hundred eighty (180) continuous day period, then Lessee shall have the option to terminate the Lease by giving Lessor written notice of such termination within thirty (30) days of the Condemnor, Lessee shall continue to perform and observe all completion of said one hundred eighty (180) day period. If the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it willshall extend beyond the expiration date, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore that part of the Leased Property as nearly as may be reasonably possible to award which represents compensation for the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond of the premises (or a part thereof) shall be divided between Lessor and Lessee so that Lessee shall receive so much thereof as represents the period to and including the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, date and Lessor shall contribute receive so much as represents the period subsequent to the expiration date and Lessor shall be entitled to receive that portion which represents reimbursement for the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the courtpremises. All moneys received by Lessee as, if anyor as part of, an award for temporary use and occupancy for a period beyond the date to which the sums to be paid by Lessee hereunder have been paid by Lessee shall be received, held, and applied by Lessee shall as a trust fund the balance for payment of such costs in a manner reasonably satisfactory to Lessorall sums payable by Lessee hereunder.
Appears in 1 contract
Temporary Taking. If the whole all or any part of the Leased Property (other than the fee) Premises shall be condemned or of Lessee’s interest under this Lease is condemned by taken for any Condemnor for its temporary public or quasi-public use or occupancy (which shall mean purpose on a period not to exceed two years)temporary basis during the Term, this Lease shall not terminate be and remain unaffected by reason thereof, such condemnation or taking and Lessee Tenant shall continue to pay, in the manner be responsible for all of its obligations hereunder and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of pay the other termsRent in full, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 describedsuch condemnation or taking, Tenant shall be entitled to appear, claim, prove and receive the entire amount of any Award made for such Condemnation allocable to award unless the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration Expiration Date, in which event Landlord shall be entitled to appear, claim, prove and receive the entire award as represents the cost of restoration of the Premises and the balance of any such award shall be apportioned between Landlord and Tenant as of the Expiration Date provided further, however, if the temporary taking is for substantially the balance of the Term, Tenant shall have the right to terminate this Lease. At the termination of such public or quasi-public occupancy prior to the Expiration Date, Tenant shall, at its expense, restore the Premises as nearly as possible to the condition in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute they were prior to the cost of such restoration condemnation or taking (reasonable wear and tear excepted); provided, however, that portion of its entire Award that is specifically allocated Tenant shall have no obligation to such restoration expend any sum in the judgment or order excess of the courtcondemnation proceeds received by Tenant under this Section to restore the Premises in accordance with this Section. Notwithstanding the preceding provisions of this Section, if any, any lump sum award received by Tenant as compensation for temporary use and Lessee occupancy of the Premises shall fund be delivered forthwith to Landlord to be held by Landlord in trust for the balance making of such costs payments by Tenant as provided in a manner reasonably satisfactory to Lessorthis Lease.
Appears in 1 contract
Samples: Assignment and Assumption of Lease (SpringWorks Therapeutics, Inc.)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) at a particular Facility or of Operating Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and but Operating Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to Charges with an equitable reduction for the average Percentage Rent during portion of the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years)Leased Property so condemned. Except only to the extent that Operating Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Operating Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Operating Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as described in this Section 15.6 described, 13.5 the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to LesseeOperating Lessor. Operating Lessee covenants that upon the termination of any such period of temporary use or occupancy it Operating Lessee's will, at its Operating Lessee's sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore promptly commence and diligently prosecute the completion of the restoration of the Leased Property as nearly as may be reasonably possible to the condition the Leased Property was in which the same was immediately prior to such Condemnation, with such alterations as may be approved by Operating Lessor and otherwise in accordance with the terms of this Lease and Operating Lessor's obligations under the Loan Documents, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Operating Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s interest under this Lease Hotel is condemned by any Condemnor for its temporary use or occupancy occupancy, which nevertheless renders the Hotel Unsuitable or Uneconomic for its Primary Intended Use, Lessee and Manager shall each have the option, by notice to the other, at any time prior to the Date of Taking, to terminate this Agreement as of the Date of Taking. Upon such date, if such notice has been given, this Agreement shall thereupon cease and terminate. If this Agreement terminates pursuant to this Section 10.05, Manager will comply with the provisions of Section 5.05, and Lessee shall be solely entitled to any Award, subject to Manager’s right to seek an award from the Condemnor for its loss of business interest only, if such separate claim is permitted. In the event the Condemnor does award Manager for such loss, Manager shall only be entitled to retain that portion of its condemnation award which is necessary to compensate Manager for its lost Management Fees. Manager shall promptly remit any additional amount to Lessee. In the event any jurisdiction would permit both Manager and Lessee to seek an award for their loss of business interests (which shall mean a period not to exceed two yearsrespectively), this Lease section shall not prohibit Lessee from making a separate claim therefor. If, however, the whole or any part of the Hotel is condemned by any Condemnor for its temporary use or occupancy, and the Hotel is still suitable for its Primary Intended Use, and not Uneconomic for its Primary Intended Use, this Agreement shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee Manager may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee Manager shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee Manager to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore the Leased Property Hotel as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, but only to the extent of the Award available to Lessee, unless such period of temporary use or of occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee and, except for any portion thereof utilized for restoration, shall pay be deemed to be Room Revenues for the purpose of calculating the Percentage Rent at a rate equal to the average Percentage Rent payable hereunder during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years)such temporary taking. Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless (a) such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration, or (b) the condemnation award is inadequate to cover the costs of such restoration, in which case the provisions of Section 15.5 applicable to inadequate awards shall govern. If restoration is required in connection with such temporary taking and the condemnation award (together with any other sums Lessor elects, in its sole discretion, to advance) is adequate to pay the costs thereof, the provisions of Section 15.5 shall govern the disbursement of the awards (and other sums, if applicable) and the disposition of any awards in excess of restoration costs. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in advance of restoration in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) at a particular Facility or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and but Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to Charges with an equitable reduction for the average Percentage Rent during portion of the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years)Leased Property so condemned. Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as described in this Section 15.6 described, 15.06 the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to LesseeLessor. Lessee covenants that upon the termination of any such period of temporary use or occupancy it Lessee's will, at its Lessee's sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore promptly commence and diligently prosecute the completion of the restoration of the Leased Property as nearly as may be reasonably possible to the condition the Leased Property was in which the same was immediately prior to such Condemnation, with such alterations as may be approved by Lessor and otherwise in accordance with the terms of this Lease and Lessor's obligations under the Loan Documents, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) ---------------- or of Lessee’s Tenant's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee Tenant shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to LesseeTenant and, except for any portion thereof utilized for restoration, shall be deemed to be Room Revenues for the purpose of calculating the Percentage Rent payable hereunder during such temporary taking. Lessee Except only to the extent that Tenant may be prevented from so doing pursuant to the terms of the order of the Condemnor, Tenant shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Tenant to be performed and observed, as though such Condemnation had not occurred. Tenant covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s Landlord's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless (a) such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee Tenant shall not be required to make such restoration, or (b) the condemnation award is inadequate to cover the costs of such restoration, in which case the provisions of Section 15.4 applicable to inadequate awards shall govern. If restoration is required in connection with such temporary taking and the condemnation award (together with any other sums Landlord elects, in its sole discretion, to advance) is adequate to pay the costs thereof, the provisions of Section 15.4 shall govern the disbursement of the awards (and other sums, if applicable) and the disposition of any awards in excess of restoration costs. If restoration is required hereunder, Lessor Landlord shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee Tenant shall fund the balance of such costs in advance of restoration in a manner reasonably satisfactory to LessorLandlord.
Appears in 1 contract
Temporary Taking. If there is a Taking of possession or the use of all or part of a Leased Property, but the fee of such Leased Property is not Taken in whole or any part in part, until such Taking of possession or use continues for more than six (6) months, all the Leased Property (other than the fee) or provisions of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years), this Lease shall not terminate by reason thereof, remain in full force and Lessee shall continue to pay, in the manner effect and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, Taking shall be paid to LesseeLessee provided there is then no Event of Default. Lessee covenants that upon Upon the termination of any such period of temporary use or occupancy it willoccupancy, Lessee at its sole cost and expense (subject to Lessor’s contribution as set forth below), shall restore the affected Leased Property Property, as nearly as may be reasonably possible possible, to the condition in which the same was existing immediately prior to such CondemnationTaking. If any temporary Taking continues for longer than six (6) months, unless and fifty percent (50%) or more of any Leased Property is thereby rendered Unsuitable for Its Primary Use, this Lease shall cease and terminate as to the affected Leased Property as of the last day of the sixth (6th) month, but if less than fifty percent (50%) of such Facility is thereby rendered Unsuitable for Its Primary Use, Lessee and Lessor shall each have the option by at least sixty (60) day's prior written Notice to the other, at any time prior to the end of the temporary taking, to terminate this Lease as to the affected Leased Property of the date set forth in such Notice, and Lessor shall be entitled to any Award made for the period of such temporary use or occupancy extends beyond Taking prior to the expiration date of termination of the Term, in which case Lessee Lease. In no event shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to Rent or any Additional Charges xxxxx during the cost period of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessorany temporary Taking.
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Temporary Taking. If the whole or any part of the an Individual Leased ---------------- Property (other than the fee) or of Lessee’s 's interest under this Lease attributable thereto is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate as to such Individual Leased Property by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional ChargesCharges attributable to such Individual Leased Property. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent attributable to such Individual Leased Property during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as described in this Section 15.6 described15.5, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s 's contribution as set forth below), restore the Individual Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in advance of restoration in a manner reasonably satisfactory to Lessor.
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Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s interest under this Lease any Parcel is condemned by any Condemnor subject to a Taking for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, thereof and Lessee Tenant shall continue to pay, in the manner and at the terms times herein specified, the full amounts amount of the Base Rent and Additional Charges. In additionpayable by Tenant hereunder, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsedand, the average during the preceding Fiscal Years). Except except only to the extent that Lessee Tenant may be prevented from so doing pursuant to the terms by reason of the order of the Condemnorsuch Taking, Lessee Tenant shall continue to perform and observe all of the other terms, covenants, covenants and conditions and obligations hereof on the part of Lessee Tenant to be performed and observed, as though such Condemnation the Taking had not occurred. In the event of any Condemnation as in this Section 15.6 describedsuch temporary Taking, Tenant shall be entitled to receive the entire amount of any Award the award made for such Condemnation allocable to the Term of this LeaseTaking, whether paid by way of damages, rent or otherwise. If the temporary Taking is for a term in excess of thirty (30) days, then the Taking shall be treated as a permanent Taking and be governed by Section 16.1 or 16.2, as applicable. 16.4 Damages. The compensation attributable to the Parcels (in each case the compensation or value shall be determined as of the date of the Taking) awarded or paid upon any Taking (other than a temporary Taking, which shall be governed by Section 16.3), whether awarded to Landlord, Tenant, or any of them, shall be held by the Escrow Agent described in Section 17.3(b), and distributed in the same manner as insurance proceeds pursuant to Section 17.3. For purposes of this Section 16.4, references to the term "casualty" or similar terms in Section 17.3 shall be deemed to refer to "Taking." Any portion of such compensation which Tenant does not want to use for any construction, restoration or reconstruction shall be paid to Lessee. Lessee covenants that upon as follows (the termination order of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution payment as set forth below), restore below shall be the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor."Distribution Formula"): (i) to
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Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts amount of all Base Rent Rent, Percentage Rent, and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as is in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this LeaseTerm, whether paid by way of damages, rent or otherwise, shall be paid to LesseeLessee if permitted by any Holder. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in advance of restoration in a manner reasonably satisfactory to Lessor.
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Samples: Lease Agreement (Behringer Harvard Opportunity REIT I, Inc.)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to paypay Rent, in the manner and at the terms times herein specified; provided, however, that if the full amounts whole or a material portion of Base Rent and Additional Charges. In additionthe Leased Property is so taken, Lessee shall pay Percentage Base Rent, but only to the extent of the net (i.e. after deduction of all costs, expenses, and other obligations attendant to such Condemnation have been paid) Award made to Lessee for such Condemnation allocable to the Term of this Lease, and to the extent of the remaining balance, if any, of such net Award (after payment of Base Rent), Lessee shall pay Participating Rent at a rate equal to the average Percentage Participating Rent during the last three (3) preceding Fiscal Lease Years (or if three (3) Fiscal Lease Years shall not have elapsed, the average during the preceding Fiscal Lease Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at to the extent that its sole cost Award is sufficient therefor and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall shall, having sought a fair and equitable allocation as provided in Section 15.5 above, contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
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Temporary Taking. If Lessee agrees that if, at any time after the date hereof, the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned Lease, shall be Condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Minimum Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from doing so doing pursuant to the terms of the order of the Condemnor, Lessee shall also continue to perform and observe all of the other terms, covenants, conditions and obligations hereof hereof, on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any such Condemnation as in this Section Paragraph 15.6 described, the entire amount of any such Award made for such Condemnation allocable to the Term of this Leasetemporary use, whether paid by way of damages, rent or otherwise, shall be paid to LesseeLessee to the extent attributable to any period within the Initial Term (as extended by any already exercised options to extend) and except as otherwise provided hereunder. Notwithstanding the foregoing, in the event that any temporary use or occupancy covered under this Paragraph 15.6 renders any portion of either of the Facilities located on the Leased Property Unsuitable for its Primary Intended Use for a period in excess of twelve (12) calendar months, Lessee shall have the right to elect a reduction in Minimum Rent as set forth in Paragraph 5.2 commencing on the twelve (12) month anniversary of any such use or occupancy and continuing so long as such temporary use or occupancy continues, in which event any Award made for such temporary use or occupancy shall be paid to Lessor to the extent attributable to the period that Minimum Rent is so abated. Lessee covenants that upon the termination of any such period of temporary use or occupancy as set forth in this Paragraph 15.6, it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore the Leased Property affected by such taking or condemnation as nearly as may be reasonably possible possible, to the condition in which the same was immediately prior to such the Condemnation, unless such period of temporary use or occupancy extends shall extend beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor and in such case, Lessee shall contribute to the cost of such restoration that portion of its entire Award that which is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
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Samples: Lease (Tesseract Group Inc)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years)) to the extent of any business interruption insurance and condemnation proceeds that are received by Lessee. Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or of occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessorcosts.
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Samples: Lease Agreement (Equity Inns Inc)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s Tenant's interest under this Lease is shall be taken or condemned by any Condemnor for its temporary use or occupancy (which shall mean for a period of not to exceed two years)more than one hundred-eighty (180) days, this Lease shall not terminate by reason thereofterminate, and Lessee Tenant shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Rent Rent, Additional Rent, if any, and Additional Charges. In addition, Lessee provided that during any such Temporary Taking Tenant shall pay Percentage Additional Rent at a rate equal to the average Percentage Additional Rent during the last three (3) immediately preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the last preceding Fiscal YearsYears occurring during the Term). Except only to the extent that Lessee Tenant may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee Tenant shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee the Tenant to be performed and observed, observed as though such Taking or Condemnation had not occurred. In the event of Upon any such Taking or Condemnation as described in this Section 15.6 describedSection, the entire amount of any such Award made for such Taking or Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent Rent or otherwise, shall be paid to LesseeTenant. Lessee covenants Tenant Covenants that upon the termination of any such period of temporary use Taking or occupancy it Condemnation set forth in this Section Tenant will, at its sole cost and expense (subject to Lessor’s any contribution by Landlord as set forth belowin Section 16.5), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Taking or Condemnation, unless such period of temporary use or occupancy extends shall expire less than six months prior to termination of this Lease or extend beyond the expiration of the Term, in which case Lessee Tenant shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
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Samples: __________ Lease (Emeritus Corp\wa\)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts amount of all Base Rent Rent, Percentage Rent, and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as is in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Termterm, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in advance of restoration in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Samples: Lease Agreement (Crescent Real Estate Equities Inc)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s Tenant's interest under this Lease is shall be taken or condemned by any Condemnor for its temporary use or occupancy (which shall mean for a period of not to exceed two years)more than one hundred-eighty (180) days, this Lease shall not terminate by reason thereofterminate, and Lessee Tenant shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Rent Rent, Additional Rent, if any, and Additional Charges. In addition, Lessee provided that during any such Temporary Taking Tenant shall pay Percentage Additional Rent at a rate equal to the average Percentage Additional Rent during the last three (3) immediately preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the last preceding Fiscal YearsYears occurring during the Term). Except only to the extent that Lessee Tenant may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee Tenant shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee the Tenant to be performed and observed, observed as though such Taking or Condemnation had not occurred. In the event of Upon any such Taking or Condemnation as described in this Section 15.6 describedSection, the entire amount of any such Award made for such 41 48 Taking or Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent Rent or otherwise, shall be paid to LesseeTenant. Lessee Tenant covenants that upon the termination of any such period of temporary use Taking or occupancy it Condemnation set forth in this Section, Tenant will, at its sole cost and expense (subject to Lessor’s any contribution by Landlord as set forth belowin Section 16.5), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Taking or Condemnation, unless such period of temporary use or occupancy extends shall extend beyond the expiration of the Term, in which case Lessee Tenant shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
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Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of the Base Rent, Percentage Rent and Additional Charges. In addition, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee and, except for any portion thereof utilized for restoration, shall pay be deemed to be Gross Revenues for the purpose of calculating the Percentage Rent at a rate equal to the average Percentage Rent payable hereunder during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years)such temporary taking. Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations ----------------------- Lease Agreement hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless (a) such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration, or (b) the condemnation award is inadequate to cover the costs of such restoration, in which case the provisions of SECTION 15.5 applicable to inadequate awards shall govern. If restoration is required in connection with such temporary taking and the condemnation award (together with any other sums Lessor elects, in its sole discretion, to advance) is adequate to pay the costs thereof, the provisions of SECTION 15.5 shall govern the disbursement of the awards (and other sums, if applicable) and the disposition of any awards in excess of restoration costs. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in advance of restoration in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s interest under this Lease Hotel is condemned by any Condemnor for its temporary use or occupancy (occupancy, which nevertheless renders the Hotel Unsuitable or Uneconomic for its Primary Intended Use, Lessee and Manager shall mean a period not each have the option, by notice to exceed two years)the other, at any time prior to the Date of Taking, to terminate this Agreement as of the Date of Taking. Upon such date, if such notice has been given, this Lease Agreement shall thereupon cease and terminate. If this Agreement terminates pursuant to this Section 10.05, Manager will comply with the provisions of Section 5.05, and Lessee shall be solely entitled to any Award. If, however, the whole or any part of the Hotel is condemned by any Condemnor for its temporary use or occupancy, and the Hotel is still suitable for its Primary Intended Use, and not Uneconomic for its Primary Intended Use, this Agreement shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee Manager may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee Manager shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee the Manager to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable and available to Lessee, to the Term of this Lease, whether paid by way of damages, rent or otherwiseextent required to make all payments required under Section 7.01 herein, shall be paid deposited in the Hotel Accounts and disbursed by Manager, with the balance to be retained by Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore the Leased Property Hotel as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, but only to the extent of the Award available to Lessee, unless such period of temporary use or of occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
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Temporary Taking. If there is a Taking of possession or the use of all or part of a Leased Property, but the fee of such Leased Property is not Taken in whole or any part in part, until such Taking of possession or use continues for more than six (6) months, all the Leased Property (other than the fee) or provisions of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years), this Lease shall not terminate by reason thereof, remain in full force and Lessee shall continue to pay, in the manner effect and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, Taking shall be paid to LesseeLessee provided there is then no Event of Default. Lessee covenants that upon Upon the termination of any such period of temporary use or occupancy it willoccupancy, Lessee at its sole cost and expense (subject to Lessor’s contribution as set forth below), shall restore the affected Leased Property Property, as nearly as may be reasonably possible possible, to the condition in which the same was existing immediately prior to such CondemnationTaking. If any temporary Taking continues for longer than six (6) months, unless such period of temporary use and fifty percent (50%) or occupancy extends beyond the expiration more of the Termpatient capacity of the affected Facility is thereby rendered Unsuitable for Its Primary Use, in which case such Taking shall be considered a Total Taking governed by Section 15.1 and this Lease shall cease and terminate as to the affected Leased Property only as of the last day of the sixth (6th) month, but if less than fifty percent (50%) of the patient capacity of such Facility is thereby rendered Unsuitable for Its Primary Use, Lessee shall not be required to make such restoration. If restoration is required hereunder, and Lessor shall contribute each have the option by at least sixty (60) day’s prior written Notice to the cost of such restoration that portion of its entire Award that is specifically allocated other, at any time prior to such restoration in the judgment or order end of the courttemporary taking, if anyto terminate this Lease as to the affected Leased Property of the date set forth in such Notice, and Lessee shall fund be entitled to any Award made for the balance period of such costs in a manner reasonably satisfactory temporary Taking prior to Lessorthe date of termination of the Lease. Rent shall not xxxxx during the period of any temporary Taking.
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Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this the Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts amount of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent extend that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s 's contribution as set forth below), promptly restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in advance of restoration in a manner reasonably satisfactory to Lessor.
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Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years), this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment thejudgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
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Temporary Taking. If the whole temporary use or occupancy of ------------- ---------------- all or any part of the Leased Property (Premises shall be taken by condemnation or in any other than the fee) manner for any public or of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary quasi-public use or occupancy (which shall mean a period not to exceed two years), this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent purpose during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, Tenant shall be paid entitled, except as hereinafter set forth, to Lesseereceive that portion of the award or payment for such taking which represents compensation for the use and occupancy of the Premises, for the taking of Tenant's Property and for moving expenses, and Landlord shall be entitled to receive the balance of the award, including, but not limited to, that portion which represents reimbursement for the cost of restoration of the Premises. Lessee covenants that upon This Lease shall be and remain unaffected by such temporary taking and Tenant shall continue to be responsible for all of its obligations hereunder insofar as such obligations are not affected by such taking and shall continue to pay in full the termination of any such Rent when it comes due. If the period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends shall extend beyond the expiration date of this Lease, that part of the Termaward which represents compensation for the use and occupancy of the Premises (or a part thereof) shall be divided between Landlord and Tenant so that Tenant shall receive so much thereof as represents the period up to and including such expiration date and Landlord shall receive so much as represents the period after such expiration date. All monies paid as, or as part of, an award for temporary use and occupancy for a period beyond the date to which the Rent has been paid by Tenant shall be received, held and applied by Landlord as a trust fund for payment of the Rent coming due hereunder. Notwithstanding the foregoing, if the temporary taking described in which case Lessee this Section 19.3 should last for more than sixty (60) days, Tenant, upon notice to Landlord, shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute have the option of terminating this Lease as to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration the Premises so taken or, if the remainder of the Premises would be wholly inadequate for the conduct of Tenant's business in the judgment or order of Building, the court, if any, and Lessee shall fund Lease as to the balance of such costs in a manner reasonably satisfactory to Lessorentire Premises.
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Temporary Taking. If Sections 16.2 through 16.4 to the whole or contrary notwithstanding, the provisions of this Section 16.5 shall govern any part Taking for temporary use. In the case of the Leased Property (other than the fee) or of Lessee’s interest under this Lease is condemned by any Condemnor Taking for its temporary use or occupancy (which shall mean a period not to exceed two years)use, this Lease shall not terminate by reason thereof, remain in effect as to the Leased Premises (including the portion taken) and Lessee there shall continue to pay, be no reduction in Basic Rent or (unless otherwise legally required) other change in the manner and at obligations of Tenant hereunder. If the terms herein specified, term of the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years temporary Taking shall not have elapsedextend (a) beyond the next Termination Date in respect of which Tenant has or may then exercise a Termination Option (the "Next Available Termination Date"), or (b) if Tenant has not exercised any Termination Option and no longer has available any Termination Options, beyond the average during Expiration Date, then in either such case the preceding Fiscal Years). Except only entire award shall be payable to the extent that Lessee may be prevented from so doing pursuant to the terms Tenant and Tenant shall make Restoration of the order of Leased Premises in accordance with the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term requirements of this Lease. If the term of the temporary Taking shall extend (i) beyond the Next Available Termination Date, whether paid by way or (ii) if Tenant has not exercised any Termination Option and no longer has available any Termination Options, beyond the Expiration Date, then in either such case Tenant need not make Restoration, the portion of damages, rent or otherwise, the award applicable to the Restoration shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost Landlord and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of the award shall be apportioned between Landlord and Tenant as of such costs Next Available Termination Date or the Expiration Date (as the case may be) by the condemning authority or, if the condemning authority fails to act, by arbitration; provided, that if pursuant to the foregoing provisions of this sentence, such balance is apportioned as of a Next Available Termination Date with respect to which Tenant has not exercised its Termination Option and Tenant shall not thereafter exercise such Termination Option then, in a manner reasonably satisfactory each case, such balance (together with interest thereon at the Prime Rate from the date such award was originally paid to Lessorand including the date such reapportioned award is payable) shall be reapportioned between Landlord and Tenant as of the next succeeding Termination Date.
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Temporary Taking. If The taking of the whole Leased Property, or any part thereof, shall constitute a Taking by Condemnation only when the use and occupancy by the taking authority has continued for longer than one hundred eighty (180) consecutive days. During any shorter period, which shall be a temporary taking, all the provisions of this Lease shall remain in full force and effect (except that Rent shall be adjusted in accordance with the Rent Reduction Amount in proportion to such temporary taking) and the Award allocable to the Term shall be paid to Tenant. 15.4 Condemnation Awards and Fee Mortgagee. Notwithstanding anything herein (including, without limitation, Article XXXI hereof) or in any Fee Mortgage Documents to the contrary, in the event that any Fee Mortgagee is entitled to any Award, or any portion thereof, under the terms of any Fee Mortgage or the related Fee Mortgage Documents, such Award shall be applied, held and/or disbursed in accordance with the terms of the Fee Mortgage or the related Fee Mortgage 98 Documents. In the event that the Fee Mortgagee elects, or is required under the related Fee Mortgage Documents, to apply the Award to the indebtedness secured by the Fee Mortgage in the case of a Taking or Condemnation as to which the restoration provisions apply, then Tenant shall not be obligated to restore the Facility and Landlord shall either (i) within six (6) months of the applicable Taking or Condemnation, make available to Tenant for restoration of the Leased Property funds (other than the feeeither through refinance or otherwise) or of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years), this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three amount applied to Fee Mortgage indebtedness (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, which case Tenant shall be paid obligated to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible in accordance with this Lease upon receipt of such funds), or (ii) sell to Tenant the portion of the Leased Property that is not subject to the condition Taking or Condemnation (and Tenant shall be entitled to retain the remaining amounts of the Award (if any) to which Tenant is entitled after giving effect to the provisions concerning distribution of the Award under Section 15.2) in which exchange for a payment equal to the same was greater of (1) the difference between (a) the Fair Market Ownership Value of the Leased Property immediately prior to such Taking or Condemnation, unless such period of temporary use or occupancy extends beyond and (b) the expiration amount of the TermAward retained by the Fee Mortgagee or Landlord, and (2) the Fair Market Ownership Value (calculated without giving effect to clause (B) in which case Lessee shall not be required to make such restoration. If restoration is required hereunderthe definition of “Fair Market Rental Value”, Lessor shall contribute to the cost extent applicable) of such restoration that the remaining portion of its entire Award that is specifically allocated to the Leased Property after such restoration Taking or Condemnation, based on the average fair market value of similar real estate in the judgment or order of areas surrounding the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.Facility. ARTICLE XVI DEFAULTS & REMEDIES 16.1
Appears in 1 contract
Samples: Lease Agreement
Temporary Taking. If Lessee agrees that if, at any time after the date hereof, the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned Lease, shall be Condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Minimum Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from doing so doing pursuant to the terms of the order of the Condemnor, Lessee shall also continue to perform and observe all of the other terms, covenants, conditions and obligations hereof hereof, on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any such Condemnation as in this Section Paragraph 15.6 described, the entire amount of any such Award made for such Condemnation allocable to the Term of this Leasetemporary use, whether paid by way of damages, rent or otherwise, shall be paid to LesseeLessee to the extent attributable to any period within the Initial Term (as extended by any already exercised options to extend). Lessee covenants that upon the termination of any such period of temporary use or occupancy as set forth in this Paragraph 15.6, it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore the Leased Property as nearly as may be reasonably possible possible, to the condition in which the same was immediately prior to such the Condemnation, unless such period of temporary use or occupancy extends shall extend beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor and in such case, Lessee shall contribute to the cost of such restoration that portion of its entire Award that which is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Samples: Lease (Assisted Living Concepts Inc)
Temporary Taking. If the whole or any part of the Leased Property ---------------- (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years), this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
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Samples: Master Hotel Lease Agreement (Apple Hospitality Two Inc)
Temporary Taking. If there is a Partial Taking of possession or the whole ----------------- use of all or any part of the Leased Property, but the fee of the Leased Property is not Taken in whole or in part, until such Partial Taking of possession or use continues for more than six (other than 6) months, all the fee) or provisions of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years), this Lease shall not terminate by reason thereof, remain in full force and Lessee shall continue to pay, in the manner effect and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, Partial Taking shall be paid to LesseeLessee provided there is then no Event of Default. Lessee covenants that upon Upon the termination of any such period of temporary use or occupancy it willoccupancy, Lessee at its sole cost and expense (subject to Lessor’s contribution as set forth below), shall restore the Leased Property Property, as nearly as may be reasonably possible possible, to the condition in which the same was existing immediately prior to such CondemnationPartial Taking. If any such Partial Taking continues for longer than six (6) months, unless such period of temporary use and twenty-five percent (25%) or occupancy extends beyond the expiration more of the Termpatient capacity of the Facility is thereby rendered Unsuitable for Its Primary Use, in which case this Lease shall cease and terminate as of the last day of the sixth (6th) month, but if less than twenty-five percent (25%) of the patient capacity of the Facility is thereby rendered Unsuitable for Its Primary Use, each of Lessee shall not be required to make such restoration. If restoration is required hereunder, and Lessor shall contribute have the option, which shall be exercisable by giving written Notice to the cost of such restoration that portion of its entire Award that is specifically allocated other at least sixty (60) days prior written Notice to such restoration in the judgment or order other, at any time prior to the end of the courttemporary Partial Taking, if anyto terminate this Lease as of the date set forth in such Notice, and Lessee shall fund be entitled to any Award made for the balance period of such costs in a manner reasonably satisfactory temporary Partial Taking prior to Lessor.the date of termination of the Lease. Rent shall not abate during the period of any temporxxx Partial Taking. 15.5
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Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s Tenant's interest under this Lease is shall be taken or condemned by any Condemnor for its temporary use or occupancy (which shall mean for a period of not to exceed two years)more than one hundred eighty (180) days, this Lease shall not terminate by reason thereofterminate, and Lessee Tenant shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Rent Rent, Additional Rent, if any, and Additional Charges. In addition, Lessee provided that during any such Temporary Taking Tenant shall pay Percentage Additional Rent at a rate equal to the average Percentage Additional Rent during the last three (3) immediately preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the last preceding Fiscal YearsYears occurring during the Term). Except only to the extent that Lessee Tenant may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee Tenant shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee the Tenant to be performed and observed, observed as though such Taking or Condemnation had not occurred. In the event of Upon any such Taking or Condemnation as described in this Section 15.6 describedSection, the entire amount of any such Award made for such Taking or Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent Rent or otherwise, shall be paid to LesseeTenant. Lessee Tenant covenants that upon the termination of any such period of temporary use Taking or occupancy it Condemnation set forth in this Section, Tenant will, at its sole cost and expense (subject to Lessor’s any contribution by Landlord as set forth belowin Section 16.5), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Taking or Condemnation, unless such period of temporary use or occupancy extends shall extend beyond the expiration of the TermTenn, in which case Lessee Tenant shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
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Temporary Taking. If the whole or any part of the Leased Property (other than the fee) ---------------- or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Rent, Percentage Rent and Additional Charges realizable from Gross Revenues generated by the Leased Property during such period, together with additional amounts of Rent, if any, to the extent of the remaining balance, if any, of the Award made to Lessee for such Condemnation allocable to the Term (after payment of Base Rent and Additional Charges. In addition), Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal 12-month Lease Years (or if three (3) Fiscal 12-month Lease Years shall not have elapsed, the average during the preceding Fiscal 12-month Lease Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such ------------ Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid (a) directly to LesseeLessee if the Award is payable by the Condemnor on a monthly basis, or (b) if payable by the Condemnor less frequently than on a monthly basis, the Award shall be paid to an institutional trustee designated by Lessor or to the Holder of a Mortgage, if any, and made available to Lessee on terms reasonably satisfactory to Lessor or such Holder for application pursuant to the provisions of this Section 15.6. Lessee covenants that upon the ------------ termination of any such period of temporary use or occupancy it will, at to the extent that its sole cost Award is sufficient therefor and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Temporary Taking. If Notwithstanding anything to the whole contrary contained in this Article 13, in the event of a temporary taking of all or any part portion of the Leased Property (other than the fee) Premises or of Lessee’s interest under this Lease is condemned by any Condemnor access thereto for its temporary use or occupancy (which shall mean a period not to exceed two years)of one hundred twenty (120) days or less, then this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in but during the manner and at period of such temporary taking (i) the terms herein specified, the full amounts of Base Rent and Additional Charges. In additionTenant’s Share of increases in Operating Expenses, Lessee Tax Expenses and Utilities Costs shall pay Percentage Rent at a rate equal be abated in proportion to the average Percentage ratio that the amount of rentable square feet of the Premises taken bears to the total rentable square feet of the Premises, and (ii) Tenant’s obligation to pay parking charges for the Parking Passes then-rented by Tenant shall be abated to the extent Tenant does not use such Parking Passes as a direct result of such temporary taking (but not in excess of four (4) parking passes for every 1,000 rentable square feet of the portion of the Premises so temporarily taken); provided, however, that if only a portion of the Premises is unfit for occupancy and the remainder of the Premises is not sufficient to allow Tenant to effectively conduct its business therein, and if Tenant does not conduct its business from such remaining portion, then (A) the Base Rent during and Tenant’s Share of increases in Operating Expenses, Tax Expenses and Utilities Costs for the last three entire Premises shall be abated for the period of such temporary taking, and (3B) preceding Fiscal Years (or if three (3) Fiscal Years Tenant’s obligation to pay parking charges for all of the Parking Passes then-rented by Tenant shall not have elapsedbe abated for the period of such temporary taking, the average during the preceding Fiscal Years). Except but only to the extent that Lessee may such Parking Passes are not used by Tenant. Landlord shall be prevented from so doing pursuant entitled to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, receive the entire amount of any Award award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of in connection with any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessortaking.
Appears in 1 contract
Samples: Office Lease (United Online Inc)
Temporary Taking. If the whole Upon a Taking of all or any part of the Leased Property Project for a specified term, which term is specified at the date of Taking and does not exceed one (other than 1) year, the fee) or of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years), this Lease Term shall not terminate by reason thereof, be reduced or affected in any way and Lessee Tenant shall continue to paypay and be liable for all Rentals for which it is obligated under this Lease. Such a Taking shall hereafter be referred to as a “Temporary Taking.” A Temporary Taking does not include a Taking which is to last for an indefinite period and/or which will terminate only upon the happening of a specified event unless it can be determined at the time of the Taking when such event will occur. A Taking for an indefinite term or for a term of more than one (1) year shall be treated as a Total Taking, Substantial Taking or Partial Taking, as applicable, in accordance with this Lease. Subject to the manner other provisions of this Section 12.7, upon a Temporary Taking Tenant shall be entitled to any award or payment for the temporary use of the Project attributable to the period prior to the date of Lease Termination, and at Landlord shall be entitled to any award or payment for such use attributable to the terms herein specifiedperiod after Lease Termination. If any lump sun prepayment is made to Tenant in an amount equal to or greater than Twenty-five Thousand Dollars ($25,000) for the temporary use of the Property and/or the Improvements for a period of time Subsequent to the making of said payment Lessee shall deposit said sum with Landlord, to be held in an interest bearing account to be released to Tenant in equal monthly increments over the period for which such payment is made, provided that Tenant has paid in full amounts of the Base Rent and Additional Chargesall other Rentals due under this Lease. In additionIf possession of the Property and/or the Improvements taken shall revert to Tenant prior to Lease Termination, Lessee Tenant shall pay Percentage Rent at a rate equal to promptly following the average Percentage Rent during date such Temporary Taking ends restore the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years Property and the Improvements. If possession of the Property and the Improvements taken shall not have elapsedrevert to Tenant prior to Lease Termination, and Landlord elects not to require Tenant to remove the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing Improvements pursuant to Section 8.2, any sums deposited pursuant to this Section 12.7 shall be paid over to Landlord on the terms date this Lease terminates and Tenant shall be excused from its obligation to restore the Property and/or the Project Improvements. If possession of the order of Property and the CondemnorImprovements taken shall not revert to Tenant prior to Lease Termination, Lessee and Landlord elects to require Tenant to remove the Improvements pursuant to section 8.2, then any sums held by Landlord pursuant to this section 12.7 at Lease Termination shall continue be paid over to perform Landlord, and observe all of promptly after the other termsTaking terminates, covenantsTenant shall at Tenant’s sole cost, conditions and obligations hereof remove the Improvements as required by Section 8.2. Any award or payment for the temporary Taking which is made on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, after Lease Termination shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessorretained by Landlord.
Appears in 1 contract
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and but Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to Charges with an equitable reduction for the average Percentage Rent during portion of the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years)Leased Property so condemned. Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as described in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to LesseeLessor. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such 230 restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in advance of restoration in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Samples: Revolving Credit Agreement (Sunstone Hotel Investors Inc)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s interest under this Lease is condemned by any Condemnor Premises shall be taken in Condemnation Actions for its a temporary use or occupancy of one (which shall mean a period not to exceed two years)1) year or less, this Lease the Term shall not terminate be reduced, extended or affected in any way, but any Rent payable by reason thereof, and Lessee Tenant shall continue to pay, be reduced as provided in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years)this Section 20.3. Except only to the extent that Lessee may be Tenant is prevented from doing so doing pursuant to the terms of the order of the Condemnorcondemning authority or because it is not practicable as a result of such taking, Lessee Tenant shall continue to perform and observe all of the other terms, covenants, conditions agreements, terms and obligations hereof on the part provisions of Lessee to be performed and observed, this Lease as though such Condemnation temporary taking had not occurred. Notwithstanding the foregoing, Tenant shall not be obligated to pay any Rent that would otherwise be due during the period of such temporary taking unless, and only to the extent that, Tenant receives any Condemnation Award for such taking. In the event of any Condemnation as in this Section 15.6 describedsuch temporary taking, Tenant shall be entitled to receive the entire amount of any Condemnation Award made for such Condemnation allocable taking (subject to the Term rights of this Leaseany Leasehold Mortgagees), whether such award is paid by way of damages, rent or otherwise, less any Condemnation Expenses paid by Landlord, if any, provided that if the period of temporary use or occupancy shall extend beyond the Lease Expiration Date (as it may be extended), Tenant shall be entitled to receive only that portion of any Condemnation Award (whether paid by way of damages, rent or otherwise) allocable to the period of time from the date of such condemnation to the Lease Expiration Date (as it may be extended), and Landlord shall be paid entitled to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund receive the balance of such costs in a manner reasonably satisfactory to LessorCondemnation Award.
Appears in 1 contract
Samples: Lease and Development Agreement
Temporary Taking. If In the whole event of a condemnation of a leasehold interest, i.e., a temporary taking, in all or any part a portion of the Leased Property (other than Demised Premises without the fee) or condemnation of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)the fee simple title also, this Lease shall not terminate and such condemnation shall not excuse Tenant from full performance of all of its covenants hereunder, but Tenant in such event shall be entitled to present or pursue against the condemning authority its claim for and to receive all compensation or damages sustained by it by reason thereofof such condemnation, and Lessee Landlord’s right to recover compensation or damages shall continue be limited to paycompensation for and damages, if any, to its reversionary interest; it being understood, however, that during such time as Tenant shall be out of possession of the Demised Premises by reason of such condemnation, the Lease shall not be subject to forfeiture for failure to observe and perform those covenants not calling for the payment of money. In the event the condemning authority shall fail to keep the Demised Premises in the state of repair required hereunder, or to perform any other covenant not calling for the payment of money, Tenant shall have thirty (30) days after the restoration of possession to it within which to carry out its obligations under such covenant or covenants. During such time as Tenant shall be out of possession of the Demised Premises by reason of such leasehold condemnation, Tenant shall pay to Landlord, in lieu of the manner minimum rentals provided for hereunder, and at the terms herein specifiedin addition to any other payments required of Tenant hereunder, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate an annual rental equal to the average Percentage Rent aggregate annual rental paid by Tenant for the period from the commencement of the term until the condemning authority shall take possession or during the last preceding three (3) preceding Fiscal Years (or if three (3) Fiscal Years full calendar years, whichever period is shorter. At any time after such condemnation proceedings are commenced, Landlord shall not have elapsedthe right, at its option, to require Tenant to assign to Landlord all compensation and damages payable by the average during condemnor to Tenant, to be held without liability for interest thereon as security for the preceding Fiscal Years). Except only full performance of Tenant’s covenants hereunder, such compensation and damages received pursuant to said assignment to be applied first to the extent that Lessee may be prevented payment of rents, taxes, assessments, insurance premiums and all other sums from so doing time to time payable by Tenant pursuant to the terms of this indenture as such sums fall due, and the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the courtremainder, if any, to be payable to Tenant, it being understood and Lessee agreed that such assignment shall fund not relieve Tenant of any of its obligations under this indenture with respect to such rents, taxes, assessments, insurance premiums and other sums except as the balance of such costs in a manner reasonably satisfactory to Lessorsame shall be actually received by Landlord.
Appears in 1 contract
Samples: Hoku Scientific Inc
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts amount of all Base Rent Rent, Percentage Rent, and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as is in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to LesseeLessee if permitted by any Holder. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in advance of restoration in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s Tenant's interest under this Lease is condemned shall be the subject of a Taking or Condemnation by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereofterminate, and Lessee Tenant shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years)Rent. Except only to the extent that Lessee Tenant may be prevented from so doing pursuant to the terms of any order for the order benefit of the Condemnor, Lessee Tenant shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee the Tenant to be performed and observed, observed as though such Taking or Condemnation had not occurred. In the event of Upon any such Taking or Condemnation as described in this Section 15.6 describedSection, the entire amount of any such Award made for such Taking or Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent Rent or otherwise, shall be paid to LesseeTenant. Lessee If any part of such Award is allocable for a period beyond the term of this Lease, that part shall be paid to Landlord. Tenant covenants that upon the termination of any such period of temporary use or occupancy it as set forth in this Section, Tenant will, at its sole cost and expense (subject to Lessor’s any contribution by Landlord as set forth belowin Section 16.5), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Taking or Condemnation, unless such period of temporary use or occupancy extends shall extend beyond the expiration of the Term, in which case Lessee Tenant shall not be required to make such restoration. If restoration is required hereunder, Lessor but shall contribute pay to Landlord from the cost Award received by Tenant the costs of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessorwork.
Appears in 1 contract
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of LesseeTenant’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee Tenant shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to LesseeTenant and, except for any portion thereof utilized for restoration, shall be deemed to be Room Revenue for the purpose of calculating the Percentage Rent payable hereunder during such temporary taking. Lessee Except only to the extent that Tenant may be prevented from so doing pursuant to the terms of the order of the Condemnor, Tenant shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Tenant to be performed and observed, as though such Condemnation had not occurred. Tenant covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to LessorLandlord’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless (a) such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee Tenant shall not be required to make such restoration, or (b) the condemnation award is inadequate to cover the costs of such restoration, in which case the provisions of Section 15.5 applicable to inadequate awards shall govern. If restoration is required in connection with such temporary taking and the condemnation award (together with any other sums Landlord elects, in its sole discretion, to advance) is adequate to pay the costs thereof, the provisions of Section 15.5 shall govern the disbursement of the awards (and other sums, if applicable) and the disposition of any awards in excess of restoration costs. If restoration is required hereunder, Lessor Landlord shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee Tenant shall fund the balance of such costs in advance of restoration in a manner reasonably satisfactory to LessorLandlord.
Appears in 1 contract
Samples: Agreement of Lease (American Realty Capital Hospitality Trust, Inc.)
Temporary Taking. If The taking of the whole Leased Property, or any part of thereof, shall constitute a taking by Condemnation only when the Leased Property (other use and occupancy by the taking authority has continued for longer than the fee) or of Lessee’s interest under this Lease is condemned by 180 consecutive days. During any Condemnor for its temporary use or occupancy (shorter period, which shall mean be a period not to exceed two years)temporary taking, all the provisions of this Lease shall not terminate by reason thereof, remain in full force and Lessee shall continue to pay, in effect and the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. ARTICLE XVI. ------------- 16.1 Events of Default ------------------- . Any one or more of the following shall constitute an "Event of Default": (a) a default shall occur under any other lease or agreement between Lessor or an Affiliate of Lessor and Lessee covenants that upon or an Affiliate of Lessee, or any letter of credit, guaranty, mortgage, deed of trust, or other instrument executed by Lessee or an Affiliate of Lessee in favor of Lessor or an Affiliate of Lessor, in every case, whether now or hereafter existing, where the termination default is not cured within any applicable grace period set forth therein; (b) Lessee shall fail to pay any installment of any Rent when the same becomes due and payable and such failure is not cured by Lessee within a period of temporary use five (5) days after notice thereof from Lessor; provided, however, that such notice shall be in lieu of and not in addition to any notice required under applicable law; (c) Lessee shall fail to obtain a letter of credit or occupancy it willdeposit the Cash Security Deposit as required by Article XXI; (d) if Lessee shall fail to observe or perform any other term, at its sole cost covenant or condition of this Lease and expense such failure is not cured by Lessee within thirty (subject to 30) days after notice thereof from Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such failure cannot with due diligence be cured within a period of temporary use or occupancy extends beyond the expiration of the Termthirty (30) days, in which case Lessee such failure shall not be deemed to be an Event of Default if Lessee proceeds promptly and with due diligence to cure the failure and diligently completes the curing thereof; provided, however, that such notice shall be in lieu of and not in addition to any notice required under applicable law; (e) Lessee or any Guarantor shall: (i) admit in writing its inability to pay its debts generally as they become due, (ii) file a petition in bankruptcy or a petition to take advantage of any insolvency act, (iii) make such restoration. If restoration is required hereunderan assignment for the benefit of its creditors, Lessor shall contribute (iv) consent to the cost appointment of a receiver of itself or of the whole or any substantial part of its property, or (v) file a petition or answer seeking reorganization or arrangement under the Federal bankruptcy laws or any other applicable law or statute of the United States of America or any state thereof; (f) Lessee or any Guarantor shall be adjudicated as bankrupt or a court of competent jurisdiction shall enter an order or decree appointing, without the consent of Lessee, a receiver of Lessee or of the whole or substantially all of its property, or approving a petition filed against it seeking reorganization or arrangement of Lessee under the Federal bankruptcy laws or any other applicable law or statute of the United States of America or any state thereof, and such judgment, order or decree shall not be vacated or set aside or stayed within sixty (60) days from the date of the entry thereof; (g) Lessee or any Guarantor shall be liquidated or dissolved, or shall begin proceedings toward such liquidation or dissolution, or shall, in any manner, permit the sale or divestiture of substantially all its assets; (h) the estate or interest of Lessee in the Leased Property or any part thereof shall be levied upon or attached in any proceeding and the same shall not be vacated or discharged within the later of ninety (90) days after commencement thereof or thirty (30) days after receipt by Lessee of notice thereof from Lessor; provided, however, that such notice shall be in lieu of and not in addition to any notice required under applicable law; (i) except as a result of damage, destruction or Condemnation, Lessee voluntarily ceases operations on the Leased Property for a period in excess of thirty (30) days; (j) any of the representations or warranties made by Lessee in the Guaranty or otherwise proves to be untrue when made in any material respect which materially and adversely affects Lessor; (k) any applicable license or third-party provider reimbursement agreements material to a Facility's operation for its Primary Intended Use are at any time terminated or revoked or suspended for more than twenty (20) days; (l) any local, state or federal agency having jurisdiction over the operation of any Facility removes ten percent (10%) or more of the patients or residents located in such Facility; (m) Lessee voluntarily transfers ten (10) or more patients located in the Facility to any other facility in which Lessee or any Affiliate of Lessee has any ownership or other financial interest, including, without limitation, fees earned under any management agreement, provided that Xxxxxx's transfer of any patient to a different type of care facility as a result of such restoration patient's special needs that portion cannot be met at such Facility shall not be deemed a voluntary transfer; (n) Lessee fails to give notice to Lessor not later than ten (10) days after any notice, claim or demand from any governmental authority or any officer acting on behalf thereof, of its entire Award any violation of any law, order, ordinance, rule or regulation with respect to the operation of any Facility; (o) Lessee fails to notify Lessor within twenty-four (24) hours after receipt of any notice from any governmental agency terminating or suspending or threatening termination or suspension, of any material license or certification relating to any Facility; (p) Lessee fails to cure or xxxxx any violation occurring during the Term of a Facility that is specifically allocated claimed by any governmental authority, or any officer acting on behalf thereof, of any law, order, ordinance, rule or regulation pertaining to the operation of such restoration Facility, and within the time permitted by such authority for such cure or abatement; (q) any proceedings are instituted against Lessee by any governmental authority which are reasonably likely to result in (i) the revocation of any license granted to Lessee for the operation of any Facility, (ii) if applicable, the decertification of any Facility from participation in the judgment Medicare or Medicaid reimbursement program, or (iii) the issuance of a stop placement order with respect to any Facility; (r) any default and acceleration of the court, if anyany recourse funded indebtedness of Lessee or any recourse funded indebtedness of any Affiliate of Lessee has occurred, and Lessee shall fund the such funded indebtedness has an unpaid principal balance of $1,000,000 or more or such costs default and acceleration could reasonably be expected to have a material adverse impact on the financial condition or operations of Lessee or any Guarantor; and (s) any default which is not cured within any applicable cure period shall occur under any guaranty of Lessee's or an Affiliate of Lessee's obligations to Lessor or an Affiliate of Lessor, in a manner reasonably satisfactory to Lessor.every case, whether such guaranty is now or hereafter existing. 16.2
Appears in 1 contract
Samples: Master Lease (Emeritus Corp\wa\)
Temporary Taking. If the whole or any part of the Leased ---------------- Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Rent and Additional Charges, but only to the extent of the net (i.e. after deduction of all costs, expenses, and other obligations attendant to such Condemnation have been paid) Award made to Lessee for such Condemnation allocable to the term of this Lease. In addition, to the extent of the remaining balance, if any, of the net Award made for such Condemnation allowable to the term of this Lease (after payment of Base Rent and Additional Charges), Lessee shall pay Percentage Participating Rent at a rate equal to the average Percentage Participating Rent during the last three (3) preceding Fiscal Lease Years (or if three (3) Fiscal Lease Years shall not have elapsed, the average during the preceding Fiscal Lease Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at to the extent that its sole cost Award is sufficient therefor and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall shall, having sought a fair and equitable allocation as provided in Section 15.5 above, contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Samples: Lease Agreement (American General Hospitality Corp)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s interest Lessxx'x xnterest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts amount of all Base Rent Rent, Percentage Rent, and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as is in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to LesseeLessee if permitted by any Holder. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Termterm, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in advance of restoration in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Temporary Taking. If the whole or any part portion of the Leased Property (other than the fee) or of Lessee’s interest under this Lease is condemned by any Condemnor Premises shall be taken for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease the Term shall not terminate by reason thereof, be reduced or affected and Lessee Tenant shall continue to pay, pay the Rent in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years)full. Except only to the extent that Lessee may be Tenant is prevented from so doing pursuant to the terms of the order of the Condemnorcondemning authority, Lessee Tenant shall continue to perform and observe all of the other covenants, agreements, terms, covenants, conditions and obligations hereof on the part provisions of Lessee to be performed and observed, as though such Condemnation had not occurredthis Lease. In the event of any Condemnation as in this Section 15.6 describedtemporary taking, Tenant shall be entitled to receive the entire amount of any Award made for such Condemnation allocable to award therefor unless the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee such award, after payment to Landlord therefrom for the estimated cost of restoration of the Premises to the extent that any such award is intended to compensate for damage to the Premises, shall not be required apportioned between Landlord and Tenant as of the day of expiration of the Term in the same ratio that the part of the entire period for such compensation is made falling before the day of expiration and that part falling after, bear to make such restorationentire period. If the portion of the award payable to Tenant is made in a lump sum or is payable to Tenant other than in equal monthly installments, Landlord shall have the right to collect such portion thereof as shall be sufficient to meet (a) the payments due to Landlord from Tenant under the terms of this Lease during the period of such temporary use or occupancy (and the amounts so collected shall be credited to Tenant’s obligations hereunder), and (b) the estimated cost of restoration of the Premises, if such taking is required hereunderfor a period not extending beyond the expiration of the Term, Lessor which amount shall contribute be made available to Tenant when and if, during the Term, Tenant shall obtain possession and shall proceed to restore the Premises as nearly as may be reasonably possible to the cost condition existing immediately prior to such taking. To the extent the portion of the award is applicable to subpart (b) of the immediately preceding sentence, such portion of the award shall be disbursed for payment of such repair, restoration that portion and refurbishment in accordance with the provisions of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.Section 9.02.
Appears in 1 contract
Samples: Option Agreement
Temporary Taking. If there is a Taking of possession or the use of all or part of a Leased Property, but the fee of such Leased Property is not Taken in whole or any part in part, until such Taking of possession or use continues for more than six (6) months, all the Leased Property (other than the fee) or provisions of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years), this Lease shall not terminate by reason thereof, remain in full force and Lessee shall continue to pay, in the manner effect and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, Taking shall be paid to LesseeLessee provided there is then no Event of Default. Lessee covenants that upon Upon the termination of any such period of temporary use or occupancy it willoccupancy, Lessee at its sole cost and expense (subject to Lessor’s contribution as set forth below), shall restore the affected Leased Property Property, as nearly as may be reasonably possible possible, to the condition in which the same was existing immediately prior to such CondemnationTaking. If any temporary Taking continues for longer than six (6) months, unless and fifty percent (50%) or more of any Leased Property is thereby rendered Unsuitable for Its Primary Use, this Lease shall cease and terminate as to the affected Leased Property as of the last day of the sixth (6th) month, but if less than fifty percent (50%) of such Facility is thereby rendered Unsuitable for Its Primary Use, Lessee and Lessor shall each have the option by at least sixty (60) day's prior written Notice to the other, at any time prior to the end of the temporary taking, to terminate this Lease as to the affected Leased Property of the date set forth in such Notice, and Lessor shall be entitled to any Award made for the period of such temporary use or occupancy extends beyond Taking prior to the expiration date 77 of termination of the Term, in which case Lessee Lease. In no event shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to Rent or any Additional Charges abate during the cost period of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessorany temporary Taking.
Appears in 1 contract
Samples: Agreement of Purchase and Sale (Williams Companies Inc)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s Tenant's interest under this Lease is shall be taken or condemned by any Condemnor for its temporary use or occupancy (which shall mean for a period of not to exceed two years)more than one hundred-eighty (180) days, this Lease shall not terminate by reason thereofterminate, and Lessee Tenant shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Rent Rent, Additional Rent, if any, and Additional Charges. In addition, Lessee provided that during any such Temporary Taking, Tenant shall pay Percentage Additional Rent at a rate equal to the average Percentage Additional Rent during the last three (3) immediately preceding Fiscal Years Years, (or if three (3) Fiscal Years shall not have elapsed, the average during the last preceding Fiscal YearsYears occurring during the Term). Except only to the extent that Lessee Tenant may be prevented from so doing doing, pursuant to the terms of the order of the Condemnor, Lessee Tenant shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee the Tenant to be performed and observed, observed as though such Taking or Condemnation had not occurred. In the event of Upon any such Taking or Condemnation as described in this Section 15.6 describedSection, the entire amount of any such Award made for such Taking or Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent Rent or otherwise, shall be paid to LesseeTenant. Lessee Tenant covenants that upon the termination of any such period of temporary use Taking or occupancy it Condemnation set forth in this Section, Tenant will, at its sole cost and expense (subject to Lessor’s any contribution by Landlord as set forth belowin Section 16.5), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Taking or Condemnation, unless such period of temporary use or occupancy extends shall extend beyond the expiration of the Term, in which case Lessee Tenant shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Samples: Lease (Unison Healthcare Corp)
Temporary Taking. If there is a Taking of possession or the use of all or part of a Leased Property, but the fee of such Leased Property is not Taken in whole or any part in part, until such Taking of possession or use continues for more than six (6) months, all the Leased Property (other than the fee) or provisions of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years), this Lease shall not terminate by reason thereof, remain in full force and Lessee shall continue to pay, in the manner effect and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, Taking shall be paid to LesseeTenant provided there is then no Event of Default. Lessee covenants that upon Upon the termination of any such period of temporary use or occupancy it willoccupancy, Tenant at its sole cost and expense (subject to Lessor’s contribution as set forth below), shall restore the affected Leased Property Property, as nearly as may be reasonably possible possible, to the condition in which the same was existing immediately prior to such CondemnationTaking. If any temporary Taking continues for longer than six (6) months, unless and fifty percent (50%) or more of the patient capacity of the affected Facility is thereby rendered Unsuitable for Its Primary Use, such Taking shall be considered a Total Taking governed by Section 15.1 and this Lease shall cease and terminate as to the affected Leased Property only as of the last day of the sixth (6th) month, but if less than fifty percent (50%) of the patient capacity of such Facility is thereby rendered Unsuitable for Its Primary Use, Tenant and Landlord shall each have the option by at least sixty (60) day’s prior written Notice to the other, at any time prior to the end of the temporary taking, to terminate this Lease as to the affected Leased Property of the date set forth in such Notice, and Tenant shall be entitled to any Award made for the period of such temporary use or occupancy extends beyond Taking prior to the expiration date of termination of the Term, in which case Lessee Lease. Rent shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to xxxxx during the cost period of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessorany temporary Taking.
Appears in 1 contract
Samples: Master Lease (Diversicare Healthcare Services, Inc.)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of the Base Rent, Percentage Rent and Additional Charges. In addition, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee and, except for any portion thereof utilized for restoration, shall pay be deemed to be Room Revenues for the purpose of calculating the Percentage Rent at a rate equal to the average Percentage Rent payable hereunder during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years)such temporary taking. Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless (a) such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration, or (b) the condemnation award is inadequate to cover the costs of such restoration, in which case the provisions of SECTION 15.5 applicable to inadequate awards shall govern. If restoration is required in connection with such temporary taking and the condemnation award (together with any other sums Lessor elects, in its sole discretion, to advance) is adequate to pay the costs thereof, the provisions of SECTION 15.5 shall govern the disbursement of the awards (and other sums, if applicable) and the disposition of any awards in excess of restoration costs. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in advance of restoration in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (occupancy, which for purposes hereof shall mean a period not to exceed two years)(2) weeks or less, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional ChargesCharges with respect to such Leased Property. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to LesseeLessor. Lessee Lessor covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) ---------------- or of Lessee’s Tenant's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee Tenant shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to LesseeTenant and, except for any portion thereof utilized for restoration, shall be deemed to be Room Revenues for the purpose of calculating the Percentage Rent payable hereunder during such temporary taking. Lessee Except only to the extent that Tenant may be prevented from so doing pursuant to the terms of the order of the Condemnor, Tenant shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Tenant to be performed and observed, as though such Condemnation had not occurred. Tenant covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s Landlord's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless (a) such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee Tenant shall not be required to make such restoration, or (b) the condemnation award is inadequate to cover the costs of such restoration, in which case the provisions of Section 15.4 applicable to inadequate awards shall govern. If restoration is required in connection with such temporary taking and the condemnation award (together with any other sums Landlord elects, in its sole discretion, to advance) is adequate to pay the costs thereof, the provisions of Section 15.4 shall govern the disbursement of the awards (and other sums, if applicable) and the disposition of any awards in excess of restoration costs. If restoration is required hereunder, Lessor Landlord shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee Tenant shall fund the balance of such costs in advance of restoration in a manner reasonably satisfactory to LessorLandlord. Notwithstanding anything in this Lease to the contrary, CCA shall be entitled to make a claim for the value of the Leased Property and the Leased Improvements and shall have the sole and absolute right to settle any claim with respect thereto, provided that Tenant shall be entitled to make an independent claim for the value of the remaining Leasehold Interest and CCA shall have the right to apply its portion of the condemnation proceeds in accordance with the terms of the Mortgage (as defined in the Loan Agreement) and the Loan Agreement.
Appears in 1 contract
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s interest under this Lease is condemned by any Condemnor Premises shall be taken in Condemnation Actions for its a temporary use or occupancy of one (which shall mean a period not to exceed two years)1) year or less, this Lease the Term shall not terminate be reduced, extended or affected in any way, but any Rent payable by reason thereof, and Lessee Tenant shall continue to pay, be reduced as provided in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years)this Section 20.3. Except only to the extent that Lessee may be Tenant is prevented from doing so doing pursuant to the terms of the order of the Condemnorcondemning authority or because it is not practicable as a result of such taking, Lessee Tenant shall continue to perform and observe all of the other terms, covenants, conditions agreements, terms and obligations hereof on the part provisions of Lessee to be performed and observed, this Lease as though such Condemnation temporary taking had not occurred. Notwithstanding the foregoing, Tenant shall not be obligated to pay any Rent that would otherwise be due during the period of such temporary taking unless, and only to the extent that, Xxxxxx receives any Condemnation Award for such taking. In the event of any Condemnation as in this Section 15.6 describedsuch temporary taking, Tenant shall be entitled to receive the entire amount of any Condemnation Award made for such Condemnation allocable taking (subject to the Term rights of this Leaseany Leasehold Mortgagees), whether such award is paid by way of damages, rent or otherwise, less any Condemnation Expenses paid by Landlord, if any, provided that if the period of temporary use or occupancy shall extend beyond the Lease Expiration Date (as it may be extended), Tenant shall be entitled to receive only that portion of any Condemnation Award (whether paid by way of damages, rent or otherwise) allocable to the period of time from the date of such condemnation to the Lease Expiration Date (as it may be extended), and Landlord shall be paid entitled to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund receive the balance of such costs in a manner reasonably satisfactory to LessorCondemnation Award.
Appears in 1 contract
Samples: Lease and Development Agreement
Temporary Taking. If the whole or any part of the Leased ---------------- Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms times herein specified, the full amounts of Base Rent, Percentage Rent and Additional Charges realizable from Gross Revenues generated by the Leased Property during such period, together with additional amounts of Rent, if any, to the extent of the remaining balance, if any, of the Award made to Lessee for such Condemnation allocable to the Term (after payment of Base Rent and Additional Charges. In addition), Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal 12-month Lease Years (or if three (3) Fiscal 12-month Lease Years shall not have elapsed, the average during the preceding Fiscal 12-month Lease Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such ------------ Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid (a) directly to LesseeLessee if the Award is payable by the Condemnor on a monthly basis, or (b) if payable by the Condemnor less frequently than on a monthly basis, the Award shall be paid to an institutional trustee designated by Lessor or to the Holder of a Mortgage, if any, and made available to Lessee on terms reasonably satisfactory to Lessor or such Holder for application pursuant to the provisions of this Section 15.6. ------------ Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at to the extent that its sole cost Award is sufficient therefor and expense (subject to Lessor’s 's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Temporary Taking. If the whole or any part of the an Individual Leased Property (other than the fee) or of Lessee’s 's interest under this Lease attributable thereto is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate as to such Individual Leased Property by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional ChargesCharges attributable to such Individual Leased Property. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent attributable to such Individual Leased Property during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as described in this Section 15.6 described15.5, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s 's contribution as set forth below), restore the Individual Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in advance of restoration in a manner reasonably satisfactory to Lessor.
Appears in 1 contract
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or ---------------- of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee Lessee, however, shall continue be released from its obligations to pay, in the manner and at the terms herein specified, the full pro rata amounts of Base Rent based on the number of rooms affected by such Condemnation and the total rooms in the Leased Property and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in described this Section 15.6 described15.6, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to LesseeLessor. Lessee Lessor covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee Lessor shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
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Temporary Taking. If there is a Taking of possession or the use of all or part of a Leased Property, but the fee of such Leased Property is not Taken in whole or any part in part, until such Taking of possession or use continues for more than six (6) months, all the Leased Property (other than the fee) or provisions of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years), this Lease shall not terminate by reason thereof, remain in full force and Lessee shall continue to pay, in the manner effect and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years). Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, Taking shall be paid to LesseeTenant provided there is then no Event of Default. Lessee covenants that upon Upon the termination of any such period of temporary use or occupancy it willoccupancy, Tenant at its sole cost and expense (subject to Lessor’s contribution as set forth below), shall restore the affected Leased Property Property, as nearly as may be reasonably possible possible, to the condition in which existing immediately A request for confidential treatment has been made with respect to portions of this document that are marked ‘[*****]’. The redacted portions have been filed separately with the same was immediately SEC. 65 Master Lease (OHI - Diversicare) Derwent – 9.25.18 prior to such CondemnationTaking. If any temporary Taking continues for longer than six (6) months, unless and fifty percent (50%) or more of the patient capacity of the affected Facility is thereby rendered Unsuitable for Its Primary Use, such Taking shall be considered a Total Taking governed by Section 15.1 and this Lease shall cease and terminate as to the affected Leased Property only as of the last day of the sixth (6th) month, but if less than fifty percent (50%) of the patient capacity of such Facility is thereby rendered Unsuitable for Its Primary Use, Tenant and Landlord shall each have the option by at least sixty (60) day’s prior written Notice to the other, at any time prior to the end of the temporary taking, to terminate this Lease as to the affected Leased Property of the date set forth in such Notice, and Tenant shall be entitled to any Award made for the period of such temporary use or occupancy extends beyond Taking prior to the expiration date of termination of the Term, in which case Lessee Lease. Rent shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to xxxxx during the cost period of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessorany temporary Taking.
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Samples: Master Lease (Diversicare Healthcare Services, Inc.)
Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of the Base Rent, Percentage Rent and Additional Charges. In addition, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee and, except for any portion thereof utilized for restoration, shall pay be deemed to be Room Revenues for the purpose of calculating the Percentage Rent at a rate equal to the average Percentage Rent payable hereunder during the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years)such temporary taking. Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to Lessee. Lessee covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost and expense (subject to Lessor’s contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless (a) such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration, or (b) the condemnation award is inadequate to cover the costs of such restoration, in which case the provisions of SECTION 14.5 applicable to inadequate awards shall govern. If restoration is required in connection with such temporary taking and the condemnation award (together with any other sums Lessor elects, in its sole discretion, to advance) is adequate to pay the costs thereof, the provisions of SECTION 14.5 shall govern the disbursement of the awards (and other sums, if applicable) and the disposition of any awards in excess of restoration costs. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in advance of restoration in a manner reasonably satisfactory to Lessor.
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Temporary Taking. If the whole or any part of the Leased Property (other than the fee) at a particular Facility or of Lessee’s interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, and but Lessee shall continue to pay, in the manner and at the terms herein specified, the full amounts of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent at a rate equal to Charges with an equitable reduction for the average Percentage Rent during portion of the last three (3) preceding Fiscal Years (or if three (3) Fiscal Years shall not have elapsed, the average during the preceding Fiscal Years)Leased Property so condemned. Except only to the extent that Lessee may be prevented from so doing pursuant to the terms of the order of the Condemnor, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as described in this Section 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, shall be paid to LesseeLessor. Lessee covenants that upon the termination of any such period of temporary use or occupancy it Lessee’s will, at its Lessee’s sole cost and expense (subject to Lessor’s contribution as set forth below)expense, restore promptly commence and diligently prosecute the completion of the restoration of the Leased Property as nearly as may be reasonably possible to the condition the Leased Property was in which the same was immediately prior to such Condemnation, with such alterations as may be approved by Lessor and otherwise in accordance with the terms of this Lease and Lessor’s obligations under the Loan Documents, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.
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Temporary Taking. If the whole or any part of the Leased Property (other than the fee) or of Lessee’s 's interest under this Lease is condemned by any Condemnor for its temporary use or occupancy (which shall mean a period not to exceed two years)occupancy, this Lease shall not terminate by reason thereof, but Base Rent shall be abated (unless required to be paid pursuant to the second sentence of this SECTION 15.6) and Lessee shall continue to pay, pay Additional Charges and Percentage Rent in the manner and at the terms herein specifiedtimes specified herein, and the full amounts Award payable to Lessee on a monthly basis as hereinafter provided shall constitute Gross Revenues as long as doing so would not cause the Rent paid to Lessor hereunder to fail to qualify as "rents from real property" within the meaning of Section 856(d) of the Code or any similar or successor provision thereto. If doing so would cause the Rent to fail to qualify then Lessee will pay Base Rent and Additional Charges to the extent of the Award to Lessee and Percentage Rent (after payment of Base Rent and Additional Charges. In addition, Lessee shall pay Percentage Rent Charges and only to the extent of the balance of the Award made to Lessee) at a rate equal to the average Percentage Rent during the last three (3) preceding Fiscal 12 month Lease Years (or or, if three (3) Fiscal 12 month Lease Years shall have not have elapsed, the average during the preceding Fiscal Years)12 month Lease Year. Except only to the extent that Lessee may be prevented from so doing pursuant to the terms as a result of the order of the Condemnorcondemnation, Lessee shall continue to perform and observe all of the other terms, covenants, conditions and obligations hereof on the part of the Lessee to be performed and observed, as though such Condemnation had not occurred. In the event of any Condemnation as in this Section SECTION 15.6 described, the entire amount of any Award made for such Condemnation allocable to the Term of this Lease, whether paid by way of damages, rent or otherwise, except such portion as is specifically allocable to restoration or Capital Expenditures which are obligations of Lessor under this Lease, shall be paid (a) directly to Lessee if the Award is payable by the Condemnor on a monthly basis, or (b) if payable by the Condemnor less frequently than on a monthly basis, the Award shall be paid to Lesseean institutional trustee designated by Lessor or to an institutional Holder of a Mortgage and made available to Lessee on a monthly basis for application pursuant to the provisions of this SECTION 15.6. Lessee Lessor covenants that upon the termination of any such period of temporary use or occupancy it will, at its sole cost to the extent of the portion of the Award specifically allocable to restoration or Capital Expenditures which are the obligations of Lessor under this Lease and expense (subject to Lessor’s Lessee's contribution as set forth below), restore the Leased Property as nearly as may be reasonably possible to the condition in which the same was immediately prior to such Condemnation, unless such period of temporary use or occupancy extends beyond the expiration of the Term, in which case Lessee Lessor shall not be required to make such restoration. If restoration is required hereunder, Lessor shall contribute to the cost of such restoration that portion of its entire Award that is specifically allocated to such restoration in the judgment or order of the court, if any, and Lessee shall fund the balance of such costs in a manner reasonably satisfactory to Lessor.contribute
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