AWARD-DISTRIBUTION definition
AWARD-DISTRIBUTION. The award shall belong to and be paid to Landlord, except that Tenant shall receive directly from the condemning authority an amount attributable to alterations made to the Premises by Tenant in accordance with this Lease, which alterations Tenant has the right to remove from the Premises pursuant to the provisions of this Lease but elects not to remove; or, if Tenant elects to remove any such Tenant's improvements, an amount not to exceed the fair market value of such alterations. Any award by the condemnor specifically for the loss of Tenant's business shall belong to Tenant.
AWARD-DISTRIBUTION. All compensation awarded for any taking whether for the whole or a portion of the Leased Premises, shall belong to LANDLORD; provided that TENANT shall be entitled to any award made whether to LANDLORD or to TENANT for the un-depreciated portion of TENANT's improvements, moving expenses, the value of TENANT's trade fixtures, and loss or damage to TENANT's business to the extent allowable under the law then in force and effect. A leasehold mortgagee shall have no claim or interest in LANDLORD's award for the depreciated portion of TENANT's improvement. TENANT shall have no claim against LANDLORD or the condemning body or entity for any portion of the award relating to the value of the un-expired term of this Lease.
AWARD-DISTRIBUTION. The award shall belong to and be paid to LANDLORD, except that TENANT shall receive from the award a sum attributable to TENANT'S improvements or alterations made to the Premises by TENANT in accordance with this Lease, which TENANT'S improvements or alterations TENANT has the right to remove from the Premises pursuant to the provisions of this Lease but elects not to remove. TENANT shall have the right to independently pursue a TENANT award. 19.
Examples of AWARD-DISTRIBUTION in a sentence
AWARD-DISTRIBUTION: The award shall belong to and be paid to LANDLORD, except that TENANT shall receive from the award a sum attributable to TENANT'S improvements or alterations made to the Premises by TENANT in accordance with this Lease, which TENANT'S improvements or alterations TENANT has the right to remove from the Premises pursuant to the provisions of this Lease but elects not to remove.