Net Condemnation Award definition

Net Condemnation Award means the proceeds of any award or payment on account of a Taking, together with any interest earned thereon, less the amount of any expenses incurred in litigating, arbitrating, compromising or settling any claim arising out of such Taking.

Net Condemnation Award shall have the meaning assigned to such term ---------------------- in Section 10.2 hereof. ------------ "Net Insurance Proceeds" shall have the meaning assigned to such term ---------------------- in Section 10.1 hereof. ------------

Net Condemnation Award shall have the meaning assigned to such term in Section 10.2 hereof

Examples of Net Condemnation Award in a sentence

• The Mortgagor shall so complete such Restoration with its own funds to the extent that the amount of any Net Condemnation Award or Net Insurance Proceeds is insufficient for such purpose.

• In the event there shall be a Net ----------------- Condemnation Award or Net Insurance Proceeds in an amount equal to or greater than $1,000,000, the Mortgagee shall have the option to apply such Net Condemnation Award or Net Insurance Proceeds, as the case may be, to the payment of the Secured Obligations in accordance with the provisions of Section 2.13(f) --------------- of the Credit Agreement or to require a Restoration of the Premises.

• In the event that there shall be any surplus after application of the Net Condemnation Award or the Net Insurance Proceeds to Restoration of the Improvements, such surplus shall be applied as Net Cash Proceeds in accordance with Section 2.13(f) of the Credit Agreement or, at the option of the Mortgagee, --------------- shall be held by the Mortgagee in the Collateral Account as additional collateral to secure the performance by the Mortgagor of the Secured Obligations.

• If the Net Condemnation Award is not sufficient to pay all the costs of such repair, rebuilding, restoration or rearrangement, Tenant will pay the deficiency, provided that it shall not by reason of the payment of any such deficiency be entitled to any reimbursement from Landlord or to any abatement or diminution of the Rent.

• Each Appraiser shall separately determine the amount of the balance of the Net Condemnation Award that is to be allocated to the interests of each Party.

More Definitions of Net Condemnation Award

Net Condemnation Award shall have the meaning set forth in Section 11.2(a).

Net Condemnation Award means the total amount awarded as compensation for any part of the Premises taken under the exercise of the power of eminent domain plus damages to any part not taken, less and except (i) any portion thereof to which the Tenant is entitled under the provisions of Section 6.2 hereof, and (ii) all attorneys' fees and other expenses incurred in the condemnation proceeding with respect to which such award was made (other than those paid directly by the Tenant or deducted, pursuant to the provisions of said Section 6.2, from that portion of the award to which it is entitled under the provisions thereof).

Net Condemnation Award means the total amount awarded as compensation for any part of the Building taken under the exercise of the power of eminent domain plus damages to any part not taken, less and except (i) any portion thereof to which Landlord is entitled, as provided herein, and (ii) all attorneys’ fees and other costs and expenses incurred in the condemnation proceeding with respect to which such award was made (other than those paid directly by Landlord or deducted, pursuant to the provisions herein, from the portion of the award to which Landlord is entitled).

Net Condemnation Award has the meaning provided in Section 9.1(c)(iii). “Net Insurance Proceeds” has the meaning provided in Section 8.2(a).

Net Condemnation Award means the total amount received as compensation for any part of the Mortgaged Property taken under the exercise of the power of Eminent Domain, plus damages to any part of the Mortgaged Property not taken, which compensation shall consist of (i) all awards received pursuant to administrative or judicial proceedings conducted in connection with the exercise of the power of Eminent Domain, plus (ii) all amounts received as a result of any settlement of compensation claims (whether in whole or in part) negotiated with the condemning authority, less (iii) all attorneys' fees and other expenses incurred in connection with the receipt of such compensation, including attorneys' fees and expenses relating to such administrative or judicial proceedings and to such settlement negotiations.

Net Condemnation Award means the total amount received as compensation for any part of the Project taken under the exercise of the power of Eminent Domain, plus damages to any part of the Project not taken (including any compensation referable to the interest of the Landlord in the part of the Project taken and as damages to the interest of the Landlord in any part thereof not taken, but not including any compensation belonging to the Landlord pursuant to the provisions of Section 7.4 hereof), which compensation shall consist of (i) all awards received pursuant to administrative or judicial proceedings conducted in connection with the exercise of the power of Eminent Domain, plus (ii) all amounts received as the result of any settlement of compensation claims (whether in whole or in part) negotiated with the condemning authority, less (iii) all attorneys' fees and other expenses incurred in connection with the receipt of such compensation, including attorneys' fees and expenses relating to such administrative or judicial proceedings and to such settlement negotiations (other than any that may be paid directly by the Landlord).

Net Condemnation Award has the meaning set forth in Section 11.1.9 (Net Condemnation Award).