Total Expropriation Sample Clauses

Total Expropriation. V-1 5.02
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Total Expropriation. Compensation is payable for total expropriation (sec.5.01), subject to the exclusions (sec.4.03) and limitations (sec.5.04), if an act or series of acts satisfies all of the following requirements: (a) the acts are attributable to a foreign governing authority which is in DE FACTO control of the part of the country in which the project is located; (b) the acts are violations of international law (without regard to the availability of local remedies) or material breaches of local law; (c) the acts directly deprive the Investor of fundamental rights in the insured investment (Rights are "fundamental" if without them the Investor is substantially deprived of the benefits of the investment.); and (d) the violations of law are not remedied (sec.9.01.9) and the expropriatory effect continues for six months.
Sample 1
Total Expropriation. Subject to the adjustments (Section 5.04) and limitations (Section 5.05), for total expropriation (Section 4.01), OPIC shall pay compensation in U.S. dollars in the amount of the Insured Portion of the Book Value of the Investment (as defined herein). Compensation is determined as of the date the expropriatory effect began (Section 4.01.3) and is based on financial statements maintained by the Investor in accordance with Section 11.01.11.
Sample 1
Total Expropriation. The lease shall be cancelled by right as of the date of execution of the ordinance mentioned above, without any indemnity incumbent on the lessor and to the benefit of the lessee. The lessee in such a case shall have to pay an indemnity to the lessor equal to the amount provided for in Title II, “Special Conditions”. The amounts paid to the lessor in connection with the expropriation shall be applied, after deduction of the taxes that might be due from the lessor in connection with receipt of the expropriation indemnity, to the appropriate extent to the amount of the cancellation indemnity, the remainder, if any, being paid by the lessor to the lessee.
Sample 1
Total Expropriation. In the event that the building is expropriated in its entirety, the leasing agreement shall be rescinded by operation of law as of the date of the ordinance resulting in the transfer of property of "the building" to the expropriating entity. However, since enjoyment of "the building" may only be granted to the expropriating entity after payment to the LESSOR of the expropriation compensation, the LESSEE shall owe to the LESSOR, as of the date of the aforementioned ordinance and until actual payment of the expropriation compensation, at which time "the building" must be released without delay, an occupation compensation equivalent to the amount of the rental payments and rental surcharges owed for such period; such compensation shall be payable pursuant to the same terms and at the same times as the rental payments and rental surcharges. On the other hand, if the compensation paid to the LESSOR represents, after deduction of all fees and expenses incurred by reason of the expropriation and of all taxes that remain outstanding, in particular in terms of capital gains, an amount higher than the amount resulting from the update of the actuarial rate of 8% of the rental payments remaining outstanding until the end of the leasing agreement and readjusted as of the day of payment of the expropriation compensation pursuant to the terms set forth in Article 2 B above, the LESSOR shall immediately pay to the LESSEE the difference between these two amounts. Otherwise, the LESSEE shall be under obligation to immediately pay this difference to the LESSOR; it shall be specified that the security interest of the LESSOR in the furniture on the rented premises shall also guarantee payment of such difference in terms of payment of above compensation.
Sample 1
Total Expropriation. The lease shall be cancelled in full, starting from the date of execution of the order discussed above, without an indemnity being charged to the LESSOR to the benefit of the LESSEE. In this case, the LESSEE shall pay to the LESSOR an indemnity equal to the amount envisioned in TITLE III—"PARTICULAR CONDITIONS." The amounts paid to the LESSOR for the expropriation shall be credited, with deduction of the taxes that may be due by the LESSOR for receiving the expropriation indemnity, with proper agreement on the amount of the cancellation indemnity, any eventual surplus being paid by the LESSOR to the LESSEE.
Sample 1
Total Expropriation. If during the Term of this Lease, any Expropriation occurs which renders the Premises unsuitable for its Permitted Use, this Lease shall terminate on the date the governmental authority takes possession, all Rent shall be apportioned and paid up to the termination date, any Rent paid and attributable to the period after such termination date shall be refunded to Tenant, and the parties hereto shall have no further obligations hereunder; provided that Tenant will remain obligated to satisfy Sections 10.4 and 10.5 and the portion of the award received for that purpose will be used to reimburse Tenant’s costs for such removal. No termination of this Lease may be exercised by Tenant without the prior, written consent of any Leasehold Mortgagee.
Sample 1
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Total Expropriation. Subject to the exclusions (Section 4.03), adjustments (Section 5.04), and limitations (Section 5.05), compensation is payable for total expropriation (Section 5.01) if an act or series of acts satisfies all of the following requirements: 1. the acts are attributable to a Foreign Governing Authority which is in DE FACTO control of the part of the Project Country where the Project is located; 2. the acts are (a) violations of international law (without regard to the availability of local remedies) or (b) an abrogation, repudiation, or material breach of the Project Agreement; provided, however, that no compensation shall be payable for total expropriation or expropriation of funds (Section 4.02) for acts that are an abrogation, repudiation or material breach of Sections 4.1.16, 4.1.17, or the eighth paragraph of Section 4.1.20 of the Project Agreement unless such acts are a violation of international law; 3. the acts directly prevent (a) the Investor from receiving timely payment in the currency specified of amounts owed to it by the Foreign Enterprise or from disposing of the Investment or any rights accruing therefrom; or (b) the Foreign Enterprise from receiving timely payment in the currency specified of amounts owed to it in respect of the Project, except for acts which are the subject of Section 4.02.1 below; or (c) either the Investor or the Foreign Enterprise from effectively exercising its fundamental rights or performing its duties as set forth in the Project Agreement or with respect to the Project; or (d) the Foreign Enterprise from exercising effective control, to the extent provided in the Project Agreement, over a substantial portion of the Covered Property or from constructing or operating the Project; or (e) the Foreign Enterprise from disposing of its interest in the Project Agreement in accordance with the terms of the Project Agreement; and 4. the violations of law or abrogation, repudiation or material breach of the Project Agreement are not remedied (Section 11.01.14) and the expropriatory effect continues without interruption for six months.
Sample 1
Total Expropriation. For total expropriation (section 4.01), OPIC shall pay compensation in United States dollars in the amount of the book value of the insured investment, subject to adjustments (section 5.03) and limitations (section 5.04). Compensation is computed as of the date the expropriatory effect commences (section 4.01(c)) and is based on financial statements maintained in accordance with section 9.01.6 for the foreign enterprise. However, OPIC may (1) conform the financial statements to principles of accounting generally accepted in the United States; and (2) make adjustments (section 5.03). OPIC shall be bound by the Investor's choice among generally accepted accounting principles, if the choice is consistent with the Investor's own accounting, unless such choice results in a substantial overstatement of the fair market value of the insured investment or the foreign enterprise as an independent entity.
Sample 1

Related to Total Expropriation

  • Expropriation Neither Party shall expropriate or nationalize, either directly or indirectly through measures equivalent to expropriation or nationalization (hereinafter referred to as "expropriation") against investments of investors of the other Party in its territory, unless the following conditions are met: (a) for the public interest (15); (b) under domestic legal procedure; (c) without discrimination; and (d) against compensation.

  • No Expropriation No property or asset of the Company (including any Property or Mineral Rights) has been taken or expropriated by any Governmental Entity nor has any notice or proceeding in respect thereof been given or commenced nor, to the knowledge of the Company, is there any intent or proposal to give any such notice or to commence any such proceeding.

  • Condemnation As of the date of origination and to the Mortgage Loan Seller’s knowledge as of the Cut-off Date, there is no proceeding pending and, to the Mortgage Loan Seller’s knowledge as of the date of origination and as of the Cut-off Date, there is no proceeding threatened for the total or partial condemnation of such Mortgaged Property that would have a material adverse effect on the value, use or operation of the Mortgaged Property.

  • Condemnation/Eminent Domain In the event that the Premises or any part thereof, or the whole or any part of the Building, shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public use, or (by virtue of any such taking, appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord or Tenant shall be entitled to compensation, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the event that a material part of the Premises or the means of access thereto shall be so taken, appropriated or condemned, and in either case, the remainder of the Premises or the mode of access thereto is, in Tenant’s reasonable judgment, unsuitable for the operation of Tenant’s business in the Premises, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the Term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the Premises or shall be deprived of a substantial part of the means of access thereto, provided, however, that Landlord may in Landlord’s notice elect to terminate this Lease and the Term hereof retroactively as of the date on which such taking, appropriation or condemnation became legally effective. In the event of any such termination, this Lease and the Term hereof shall expire as of such effective termination date as though that were the Expiration Date as stated in Exhibit 1, and the Yearly Rent (together with Operating Costs Excess and Tax Excess) shall be apportioned as of such date. If neither party (having the right so to do) elects to terminate Landlord will, with reasonable diligence and at Landlord’s expense, restore the remainder of the Premises, or the remainder of the means of access, as nearly as practicably may be to the same condition as obtained prior to such taking, appropriation or condemnation in which event (i) the Total Rentable Area shall be equitably adjusted, (ii) a just proportion of the Yearly Rent, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the Premises and the means of access thereto, shall be permanently abated, and (iii) a just proportion of the remainder of the Yearly Rent, according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the Premises and the means of access thereto, shall be abated until what remains of the Premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any award specifically reimbursing Tenant for moving or relocation expenses or for Tenant’s personal property, or for the unamortized value of any leasehold improvements paid for by Tenant (in excess of any Landlord contribution), there are expressly reserved to Landlord all rights to compensation and damages created, accrued or accruing by reason of any such taking, appropriation or condemnation, in implementation and in confirmation of which Tenant does hereby acknowledge that Landlord shall be entitled to receive all such compensation and damages, grant to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agree to execute and deliver all and whatever further instruments of assignment as Landlord may from time to time reasonably request. In the event of any taking of the Premises or any part thereof for temporary (i.e., not in excess of one (1) year) use, (i) this Lease shall be and remain unaffected thereby, and (ii) Tenant shall be entitled to receive for itself any award made to the extent allocable to the Premises in respect of such taking on account of such use, provided, that if any taking is for a period extending beyond the Term of this Lease, such award shall be apportioned between Landlord and Tenant as of the Expiration Date or earlier termination of this Lease.

  • Total Condemnation If all of the Premises is condemned by eminent domain, inversely condemned or sold under threat of condemnation for any public or quasi-public use or purpose ("Condemned"), this Lease shall terminate as of the earlier of the date the condemning authority takes title to or possession of the Premises, and Rent shall be adjusted to the date of termination.

  • Eminent Domain With respect to eminent domain: A) Condemnation of Demised Premises. If the whole or any substantial part of the Demised Premises shall be taken or acquired by any public or quasi-public authority under the power or threat of eminent domain, for other than a temporary period, the Lease Term shall cease as of the day possession shall be taken by such public or quasi-public authority, and Tenant shall pay Rent up to that date with an appropriate refund by Landlord of any rent which may have been paid in advance for any period subsequent to the date possession is taken. In the event that during the term of this Agreement the Demised Premises, or any part thereof, or more than __________% of the Real Property or of the Common Area is taken by condemnation or right of eminent domain, or by private purchase in lieu thereof, this Agreement and the term hereby granted shall be terminable at Landlord’s sole option and if Landlord so terminates then this Agreement shall expire on the date when possession shall be taken by the condemnor and the Base Rent herein reserved shall be apportioned and paid in full to that date and all prepaid Base Rent shall forthwith be repaid by Landlord to Tenant. In the event Landlord does not elect to cancel or terminate this Agreement as provided above, then Landlord shall rebuild and restore the Demised Premises as nearly as possible to their condition immediately prior to any such taking and this Agreement shall continue in full force and effect except that, during such restoration, the Base Rent payable pursuant to the terms of this Agreement shall be equitably apportioned in the proportion that the square footage of the part of the Demised Premises so taken bears to the total square footage of the Demised Premises immediately prior to such taking; provided, however, in no event shall there be any abatement of the payment of any Operating Costs, provided further, however, the Landlord’s obligations to restore or rebuild shall be limited to an amount which does not exceed the proceeds obtained from such taking (less expenses incurred in collecting the same). Notwithstanding the foregoing, in the event the net condemnation award received by Landlord is insufficient to restore or rebuild the structural portions of the Demised Premises the Landlord shall have the option within __________ days after Landlord’s receipt of the net condemnation, to cancel and terminate this Agreement, and Tenant shall be limited to consequential damages only.

  • EMINENT DOMAIN/CONDEMNATION 7.1 Lessor to notify Lessee 7.2 Whole taking, rents prorated 7.3 Taking

  • No Condemnation There is no proceeding pending or to the best of the Company's knowledge threatened for the total or partial condemnation of the related Mortgaged Property;

  • Damage, Destruction and Condemnation (a) Seller will bear the risk of loss for any damage, destruction, or condemnation that may occur prior to Closing. If any portion of the Property is damaged or destroyed prior to Closing, Purchaser may elect to terminate this Agreement, unless prior to Closing all that damage has been repaired and the Improvements restored or replaced to their condition prior to the damage. If any material portion of the Property is condemned or taken prior to Closing, Purchaser may elect to terminate this Agreement. (b) Purchaser's election under this Section with respect to any condemnation or taking will be exercised by written notice to Seller within twenty (20) days after written notice from Seller of the condemnation or taking. Purchaser's election under this Section with respect to any damage or destruction not repaired prior to Closing will be exercised by written notice to seller within twenty (20) days of the later to occur of: (i) written notice from Seller of the damage or destruction and Seller's inability to repair and restore prior to Closing; or (ii) written notice from Seller's insurance carrier regarding the estimated cost of repair, replacement, or reconstruction and the portion of the repair, replacement, or reconstruction for which insurance proceeds will be made available. The Closing Date will be extended as necessary to give Purchaser time to make the election. (c) If Purchaser elects to terminate this Agreement under this Section, neither party will have any further rights, duties, or obligations. If Purchaser does not elect to terminate this Agreement, this Agreement will remain in full force and the purchase contemplated in this Agreement, less any interest taken by condemnation, will be effected, and at the Closing, Seller will pay the Purchaser the amount of any deductible under Seller's insurance policy and will assign, transfer, and set over to Purchaser all of Seller's right, title, and interest to any condemnation awards or insurance proceeds that have been or that may later be made for the taking or destruction.

  • Compulsory Acquisition If the Developer fails to transfer or dedicate the Transfer Land or any land forming part of the Essential Infrastructure to the City in accordance with Schedule 3 of this document then the City may compulsorily acquire that land for the amount of

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