Common use of Certain Government Requisitions Clause in Contracts

Certain Government Requisitions. In the event that during the Term the use of the Leased Property is requisitioned or taken by any Governmental Authority under the power of eminent domain or otherwise under circumstances which do not constitute a Casualty Occurrence in respect thereof, the Lessee's duty to pay Periodic Rent, Periodic Site Rent and Supplemental Rent shall continue for the duration of such requisition or taking. Unless a Default or Event of Default shall have occurred and be continuing, the Lessee shall be entitled to receive and retain for its own account all sums payable for any such period by such Governmental Authority as compensation for requisition or taking of possession. If a Default or Event of Default shall have occurred and be continuing, the Lessee shall be deemed to the extent of any such compensation so received to be the agent of the Owner-Trustee in collecting and receiving the same and shall segregate and hold in trust and promptly remit any such compensation so received to the Owner-Trustee for crediting against any sums then due and owing hereunder to the Owner-Trustee, its successors and assigns.

Appears in 2 contracts

Samples: Crown Pacific Partners L P, Crown Pacific Partners L P

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Certain Government Requisitions. In the event that during the Term the ------------------------------- use of the Leased Property is requisitioned or taken by any Governmental Authority under the power of eminent domain or otherwise under circumstances which do not constitute a Casualty Occurrence in respect thereof, the Lessee's duty to pay Periodic Rent, Periodic Site Rent and Supplemental Rent shall continue for the duration of such requisition or taking. Unless a Default or Event of Default shall have occurred and be continuing, the Lessee shall be entitled to receive and retain for its own account all sums payable for any such period by such Governmental Authority as compensation for requisition or taking of possession. If a Default or Event of Default shall have occurred and be continuing, the Lessee shall be deemed to the extent of any such compensation so received to be the agent of the Owner-Owner Trustee in collecting and receiving the same and shall segregate and hold in trust and promptly remit any such compensation so received to the Owner-Owner Trustee for crediting against any sums then due and owing hereunder to the Owner-Owner Trustee, its successors and assigns.

Appears in 1 contract

Samples: Pope & Talbot Inc /De/

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Certain Government Requisitions. In the event that during the Lease Term the use of the Leased Property any Item of Equipment is requisitioned or taken by any Governmental Authority under the power of eminent domain or otherwise under circumstances which do not constitute a Casualty Occurrence in respect thereof, the Lessee's duty to pay Periodic Rent, Periodic Site Rent and Supplemental Rent for such Item of Equipment shall continue for the duration of such requisition or taking. Unless a Default or Event of Default shall have occurred and be continuing, the Lessee shall be entitled to receive and to retain for its own account all sums payable for any such period by such Governmental Authority as compensation for such requisition or taking of possession. If a Default or Event of Default shall have occurred and be continuing, the Lessee shall be deemed to the extent of any such compensation so received to be the agent of the Owner-Lessor Trustee in collecting and receiving the same and shall segregate and hold in trust and promptly remit any such compensation so received to the Owner-Lessor Trustee for crediting against any sums then due and owing hereunder to the Owner-Lessor Trustee, its successors and assigns.

Appears in 1 contract

Samples: Equipment Lease (Mail Well Inc)

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