Examples of Requisition of Use in a sentence
In the case of a Requisition of Use not constituting an Event of Loss, this Facility Lease shall continue, and each and every obligation of the Lessee hereunder and under each Transaction Document shall remain in full force and effect.
The date of such Event of Loss shall be the date of such theft, disappearance, destruction, damage, Requisition of Use, prohibition, unfitness for use for the stated period, removal for the stated period or Return to Manufacturer.
The date of occurrence of such Event of Loss shall be the date of such theft, disappearance, destruction, damage, Requisition of Use or prohibition of, or unfitness for use, for the stated period.
In the case of a Requisition of Use with respect to any portion of the Leased Property which does not constitute an Event of Loss, such Requisition of Use shall not terminate this Lease with respect to such portion of the Leased Property and each and every obligation of the Lessee with respect thereto shall remain in full force and effect.
So long as no Default or Event of Default shall have occurred and be continuing, the Lessee shall be entitled to all sums received by reason of any such Requisition of Use for the period ending on the Lease Termination Date, and the Lessor shall be entitled to all sums received by reason of any such Requisition of Use for the period after the Lease Termination Date.
Default or Event of Default shall have occurred and be continuing, the Lessee shall be entitled to all sums received by reason of any such Requisition of Use for the period ending on the Lease Termination Date, and the Lessor shall be entitled to all sums received by reason of any such Requisition of Use for the period after the Lease Termination Date.
With respect to a Requisition of Use, Lessor agrees that Lessee shall receive and retain all amounts paid by any governmental authority up to the Casualty Value actually paid by Lessee hereunder, and any excess shall be paid over to, and retained by, Lessee.
In the case of a Casualty, Condemnation or Requisition of Use with respect to any Site which does not constitute an Event of Loss, such Casualty, Condemnation or Requisition of Use shall not terminate this Lease with respect to such Site and each and every obligation of the Lessee with respect thereto shall remain in full force and effect.
Lessor shall be entitled to receive and retain all amounts payable by the Manufacturer with respect to a Return to Manufacturer or by any governmental authority with respect to any Requisition of Use, as the case may be, except that such amounts received in good collected funds shall be applied against Lessee's obligation to pay Casualty Value or, so long as no Event of Default has occurred, remitted to Lessee (up to the amount of the Casualty Value paid by Lessee to Lessor in good and indefeasible funds).
Lessee hereby assumes and shall bear the entire risk of casualty, whether or not insured against, of the equipment from any and every cause whatsoever, and from requisition for use by governmental authority under the power of eminent domain or otherwise (Requisition of Use), from the date of commencement of this Lease.