Common use of Condemnation Awards Clause in Contracts

Condemnation Awards. Subject to the terms of the Loan Agreement, the Mortgagor assigns to the Agent, as additional security, all awards of damage resulting from condemnation proceedings or the taking of or injury to the Real Property for public use “Eminent Domain Proceedings”). If an Event of Default exists and is continuing and the Agent has given notice to the Mortgagor that the Agent intends to exercise its rights under this Section 3.7, then the Agent shall be entitled to (a) participate in and/or direct (at the sole discretion of the Required Lenders any Eminent Domain Proceedings and (b) apply the proceeds thereof as provided in Section 4.2 of this Mortgage.

Appears in 9 contracts

Samples: Security Agreement and Fixture Filing Statement (Green Plains Inc.), Security Agreement and Fixture Filing Statement (Green Plains Inc.), Security Agreement and Fixture Filing Statement (Green Plains Inc.)

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Condemnation Awards. Subject to the terms of the Loan Agreement, the Mortgagor Grantor assigns to the Agent, as additional security, all awards of damage resulting from condemnation proceedings or the taking of or injury to the Real Property for public use “Eminent Domain Proceedings”). If an Event of Default exists and is continuing and the Agent has given notice to the Mortgagor Grantor that the Agent intends to exercise its rights under this Section 3.7, then the Agent shall be entitled to (a) participate in and/or direct (at the sole discretion of the Required Lenders any Eminent Domain Proceedings and (b) apply the proceeds thereof as provided in Section 4.2 of this MortgageDeed of Trust.

Appears in 5 contracts

Samples: Security Agreement and Fixture Filing Statement (Green Plains Inc.), Security Agreement and Fixture Filing Statement (Green Plains Inc.), Security Agreement and Fixture Filing Statement (Green Plains Inc.)

Condemnation Awards. Subject to the terms of the Loan Agreement, the Mortgagor Grantor assigns to the Agent, as additional security, all awards of damage resulting from condemnation proceedings or the taking of or injury to the Real Property for public use (“Eminent Domain Proceedings”). If an Event of Default exists and is continuing and the Agent has given notice to the Mortgagor Grantor that the Agent intends to exercise its rights under this Section 3.76, then the Agent shall be entitled to (a) participate in and/or direct (at the sole discretion of the Required Lenders (as defined in the Loan Agreement)) any Eminent Domain Proceedings and (b) apply the proceeds thereof as provided in Section 4.2 8 of this MortgageDeed of Trust.

Appears in 5 contracts

Samples: Security Agreement and Fixture Filing (Green Plains Inc.), Security Agreement and Fixture Filing Statement (Green Plains Inc.), Green Plains Inc.

Condemnation Awards. Subject to the terms of the Loan Agreement, the Mortgagor Grantor assigns to the AgentBeneficiary, as additional security, all awards of damage resulting from condemnation proceedings or the taking of or injury to the Real Property for public use “Eminent Domain Proceedings”). If an Event of Default exists and is continuing and the Agent Beneficiary has given notice to the Mortgagor Grantor that the Agent Beneficiary intends to exercise its rights under this Section 3.7, then the Agent Beneficiary shall be entitled to (a) participate in and/or direct (at the sole discretion of the Required Lenders any Eminent Domain Proceedings and (b) apply the proceeds thereof as provided in Section 4.2 of this MortgageDeed of Trust.

Appears in 2 contracts

Samples: Security Agreement and Fixture Filing Statement (Green Plains Inc.), Security Agreement and Fixture Filing Statement (Green Plains Inc.)

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Condemnation Awards. Subject to the terms of the Loan Agreement, the Mortgagor assigns to the Agent, as additional security, all awards of damage resulting from condemnation proceedings or the taking of or injury to the Real Property for public use “Eminent Domain Proceedings”). If an Event of Default exists and is continuing and the Agent has given notice to the Mortgagor that the Agent intends to exercise its rights under this Section 3.7, then the Agent shall be entitled to (a) participate in and/or direct (at the sole discretion of the Required Lenders any Eminent Domain Proceedings and (b) apply the proceeds thereof as provided in Section 4.2 of this Mortgage.. US-DOCS\95224982Bluffton, IN

Appears in 1 contract

Samples: Security Agreement and Fixture Filing Statement (Green Plains Inc.)

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