Common use of Voluntary Conveyance Clause in Contracts

Voluntary Conveyance. A voluntary conveyance by Xxxxxxxx to a public utility, agency or authority under threat of a taking under the power of eminent domain in lieu of formal proceedings shall be deemed a taking within the meaning of this Article 9. If all or any portion of the Project shall be taken by any competent authority for temporary use or occupancy, this Lease shall continue in full force and effect (but with a proportional reduction or abatement of rent if a portion of the Premises is taken). In such event, Tenant shall be entitled to any award specifically made for the repair and restoration of any damage to the Premises or any improvements thereon, as a result of such temporary use or occupancy and to the entire award for such taking for temporary use or occupancy to the extent that such award relates to the Premises and is applicable to the period of such temporary use or occupancy occurring during the Term and Landlord shall be entitled to the remainder of the award. Notwithstanding anything to the contrary elsewhere in this Lease, in the event that Xxxxxx's leasehold estate is subject to a Leasehold Mortgage, all amounts payable to Tenant pursuant to this Article 9, if required by the Leasehold Mortgage, shall be paid to the Leasehold Mortgagee to be applied by the Leasehold Mortgagee in accordance with the Leasehold Mortgage. Such Leasehold Mortgagee shall have the right to participate, at its or Tenant's sole cost, in any condemnation proceeding affecting the Premises.

Voluntary Conveyance. A voluntary conveyance by Xxxxxxxx Landlord to a public utility, agency agency, or authority under threat of a taking under the power of eminent domain in lieu of formal proceedings shall be deemed a taking within the meaning of this Article 9. If all or any portion of the Project shall be taken by any competent authority for temporary use or occupancy, this Lease Secondary Sublease shall continue in full force and effect (but with a proportional reduction or abatement of rent if a portion of the Premises is taken). In such event, Tenant shall be entitled to any award specifically made for the repair and restoration of any damage to the Premises or any improvements thereon, as a result of such temporary use or occupancy and to the entire award for such taking for temporary use or occupancy to the extent that such award relates to the Premises and is applicable to the period of such temporary use or occupancy occurring during the Term and Landlord shall be entitled to the remainder of the award. Notwithstanding anything to the contrary elsewhere in this LeaseSecondary Sublease, in the event that XxxxxxTenant's leasehold estate is subject to a Leasehold Mortgage, all amounts payable to Tenant pursuant to this Article 9, if required by the Leasehold Mortgage, shall be paid to the Leasehold Mortgagee to be applied by the Leasehold Mortgagee in accordance with the Leasehold Mortgage. Such Leasehold Mortgagee shall have the right to participate, at its or Tenant's sole cost, in any condemnation proceeding affecting the Premises.

Voluntary Conveyance. A voluntary conveyance by Xxxxxxxx Landlord to a public utility, agency or authority under threat of a taking under the power of eminent domain in lieu of formal proceedings shall be deemed a taking within the meaning of this Article 9. If all or any portion of the Project shall be taken by any competent authority for temporary use or occupancy, this Lease shall continue in full force and effect (but with a proportional reduction or abatement of rent if a portion of the Premises is taken). In such event, Tenant shall be entitled to any award specifically made for the repair and restoration of any damage to the Premises or any improvements thereon, as a result of such temporary use or occupancy and to the entire award for such taking for temporary use or occupancy to the extent that such award relates to the Premises and is applicable to the period of such temporary use or occupancy occurring during the Term and Landlord shall be entitled to the remainder of the award. Notwithstanding anything to the contrary elsewhere in this Lease, in the event that XxxxxxTenant's leasehold estate is subject to a Leasehold Mortgage, all amounts payable to Tenant pursuant to this Article 9, if required by the Leasehold Mortgage, shall be paid to the Leasehold Mortgagee to be applied by the Leasehold Mortgagee in accordance with the Leasehold Mortgage. Such Leasehold Mortgagee shall have the right to participate, at its or Tenant's sole cost, in any condemnation proceeding affecting the Premises.