Condemnation/Eminent Domain. Promptly upon obtaining knowledge of the institution of any proceedings for the condemnation of the Mortgaged Property, or any material portion thereof, Grantor will notify Beneficiary of the pendency of such proceedings. All awards and proceeds relating to such condemnation shall be deemed proceeds from a Recovery Event and applied in the manner specified in the Credit Agreement.
Appears in 3 contracts
Samples: Mortgage, Security Agreement (Hertz Corp), Hertz Corp, Hertz Corp
Condemnation/Eminent Domain. Promptly upon obtaining knowledge of the institution of any proceedings for the condemnation of the Mortgaged Property, or any material portion thereof, Grantor will notify Beneficiary of the pendency of such proceedings. All awards and proceeds relating to such condemnation shall be deemed proceeds from a Recovery Prepayment Event and applied in the manner specified in the Credit Agreement.
Appears in 1 contract
Samples: Credit Agreement (Energy Future Intermediate Holding CO LLC)
Condemnation/Eminent Domain. Promptly upon obtaining knowledge of the institution of any proceedings for the condemnation of the Mortgaged Property, or any material portion thereof, Grantor will notify Beneficiary of the pendency of such proceedings. All awards and Any award or other proceeds relating to such a condemnation of any portion of the Mortgaged Property shall be deemed proceeds from a Recovery Event an Extraordinary Receipt and shall be applied in the manner specified in the Credit Agreement.
Appears in 1 contract
Samples: Credit Agreement (Health Management Associates Inc)
Condemnation/Eminent Domain. Promptly upon obtaining knowledge of the institution of any proceedings for the condemnation of the Mortgaged Property, or any material portion thereof, Grantor will notify Beneficiary of the pendency of such proceedings. All awards and proceeds relating to such condemnation shall be deemed proceeds from a Recovery Event Net Cash Proceeds and applied in the manner specified in the Credit Agreement.
Appears in 1 contract
Samples: Gannett Co., Inc.
Condemnation/Eminent Domain. Promptly upon obtaining knowledge of the institution of any proceedings for the condemnation of the Mortgaged Secured Property, or any material portion thereof, Grantor will notify Beneficiary Grantee of the pendency of such proceedings. All awards and proceeds relating to such condemnation shall be deemed proceeds from a Recovery Event and applied in the manner specified in the Amended and Restated Credit Agreement.
Appears in 1 contract
Samples: Assignment and Assumption (International Paper Co /New/)
Condemnation/Eminent Domain. Promptly upon obtaining knowledge of the institution of any proceedings for the condemnation of the Mortgaged Property, or any material portion thereof, Grantor will notify Beneficiary of the pendency of such proceedings. All awards and proceeds relating to such condemnation shall be deemed proceeds from a Recovery Event and applied in the manner and to the extent specified in the Credit Agreement.
Appears in 1 contract
Condemnation/Eminent Domain. Promptly upon obtaining knowledge of the institution of any proceedings for the condemnation of the Mortgaged Trust Property, or any material portion thereof, Grantor will notify Beneficiary of the pendency of such proceedings. All awards and proceeds relating to such condemnation shall be deemed proceeds from a Recovery Event and applied in the manner specified in the Credit Agreement.
Appears in 1 contract
