Common use of Condemnation/Eminent Domain Clause in Contracts

Condemnation/Eminent Domain. Promptly upon obtaining knowledge of the institution of any proceedings for the condemnation of the Mortgaged Property, or any portion thereof, Mortgagor will notify Mortgagee of the pendency of such proceedings. Mortgagee is hereby authorized and empowered by Mortgagor to settle or compromise any claim in connection with such condemnation and to receive all awards and proceeds thereof to be held by Mortgagee as collateral to secure the payment and performance of the Obligations. Notwithstanding the preceding sentence, provided no Event of Default shall have occurred and be continuing, Mortgagor shall, at its expense, diligently prosecute any proceeding relating to such condemnation, settle or compromise any claims in connection therewith and receive any awards or proceeds thereof, provided that Mortgagor shall promptly repair and restore the Mortgaged Property to its condition prior to such condemnation, regardless of whether any award shall have been received or whether such award is sufficient to pay for the costs of such repair and restoration.

Condemnation/Eminent Domain. Promptly Immediately upon obtaining knowledge of the institution of any proceedings for the condemnation of the Mortgaged Property, or any portion thereof, Mortgagor will notify Mortgagee of the pendency of such proceedings. Mortgagee is hereby authorized and empowered by Mortgagor to settle or compromise any claim in connection with such condemnation and to receive all awards and proceeds thereof to be held by Mortgagee as collateral to secure the payment and performance of the Indebtedness and the Obligations. Notwithstanding the preceding sentence, provided no Event of Default shall have occurred and be continuing, Mortgagor shall, at its expense, diligently prosecute any proceeding relating to such condemnation, settle or compromise any claims in connection therewith and receive any awards or proceeds thereof, provided that Mortgagor shall promptly repair and restore the Mortgaged Property to its condition prior to such condemnation, regardless of whether any award shall have been received or whether such award is sufficient to pay for the costs of such repair and restoration.

Condemnation/Eminent Domain. Promptly Subject to the Credit Agreement, upon obtaining knowledge of the institution of any proceedings for the condemnation of the Mortgaged Trust Property, or any portion thereof, Mortgagor Grantor will notify Mortgagee Beneficiary of the pendency of such proceedings. Mortgagee If an Event of Default shall occur and be continuing, Beneficiary is hereby authorized and empowered by Mortgagor Grantor to settle or compromise any claim in connection with such condemnation and to receive all awards and proceeds thereof to be applied pursuant to the Credit Agreement, or otherwise to be held by Mortgagee Beneficiary as collateral to secure the payment and performance of the Indebtedness and the Obligations. Notwithstanding the preceding sentence, provided no Event of Default shall have occurred and be continuing, Mortgagor but expressly subject to the provisions of the Credit Agreement, (i) Grantor shall, at its expense, diligently prosecute any proceeding relating to such condemnation, (ii) Grantor may settle or compromise any claims in connection therewith and (iii) Grantor may receive any awards or proceeds thereof, provided that Mortgagor Grantor shall (a) promptly repair and restore the Mortgaged Trust Property to its condition prior to such condemnation, regardless of whether any award shall have been received or whether such award is sufficient to pay for the costs of such repair and restoration, or (b) otherwise comply with the provisions of the Credit Agreement relating to the disposition of such condemnation proceeds.

Condemnation/Eminent Domain. Promptly Immediately upon obtaining knowledge of the institution of any proceedings for the condemnation of the Mortgaged Property, or any portion thereof, the Mortgagor will notify the Mortgagee of the pendency of such proceedings. The Mortgagee is hereby authorized and empowered by the Mortgagor to settle or compromise any claim in connection with such condemnation and to receive all awards and proceeds thereof to be held by the Mortgagee as collateral to secure the payment and performance of the Obligations. Notwithstanding the preceding sentence, provided no Event of Default shall have occurred and be continuing, the Mortgagor shall, at its expense, diligently prosecute any proceeding relating to such condemnation, settle or compromise any claims in connection therewith and receive any awards or proceeds thereof, provided that the Mortgagor shall promptly repair and restore the awards or proceeds thereof, provided that the Mortgagor shall promptly repair and restore the Mortgaged Property to its condition prior to such condemnation, regardless of whether any award shall have been received or whether such award is sufficient to pay for the costs of such repair and restoration.

Condemnation/Eminent Domain. Mortgagor represents and warrants that as of the date hereof, there is no condemnation affecting the Mortgaged Property, and to the knowledge of Mortgagor, no such condemnation is proposed or threatened. Promptly upon obtaining knowledge of the institution of any proceedings for the condemnation of the Mortgaged Property, or any portion thereof, Mortgagor will notify Mortgagee of the pendency of such proceedings. Mortgagee is hereby authorized and empowered by Mortgagor to settle or compromise any claim in connection with such condemnation and to receive all awards and proceeds thereof to be held by Mortgagee as collateral to secure the payment and performance of the Obligations. Notwithstanding the preceding sentence, provided Provided no Event of Default shall have occurred and be continuing, Mortgagor shall, at its expense, diligently prosecute any proceeding relating to such condemnation, settle or compromise any claims in connection therewith and receive any awards or proceeds thereof, subject to Section [4.03(b)] of the Credit Agreement, provided that Mortgagor shall promptly repair and restore the Mortgaged Property to its substantially the same condition as prior to such condemnationcondemnation (to the extent it is commercially reasonable to do so), regardless of whether any award shall have been received or whether such award is sufficient to pay for the costs of such repair and restoration, except to the extent constituting Net Cash Proceeds and applied pursuant to Section 4.03(b) of the Credit Agreement.

Condemnation/Eminent Domain. Promptly Immediately upon obtaining knowledge of the institution of any proceedings for the condemnation of the Mortgaged Property, or any portion thereof, Mortgagor will notify Mortgagee of the pendency of such proceedings. During the continuance of an Event of Default, and subject to Section 7.5(i) of the Credit Agreement, Mortgagee is hereby authorized and empowered by Mortgagor to settle or 10 9 compromise any claim in connection with such condemnation and to receive all awards and proceeds thereof to be held by Mortgagee as collateral to secure the payment and performance of the Indebtedness and the Obligations. Notwithstanding the preceding sentence, subject to the provisions of the Credit Agreement and provided that no Event of Default shall have occurred and be continuing, Mortgagor shall, at its expense, diligently prosecute any such proceeding relating to such condemnation, settle or compromise any claims in connection therewith and receive any awards or proceeds thereof, provided that Mortgagor shall promptly repair and restore comply with the Mortgaged Property to its condition prior to such condemnation, regardless applicable provisions of whether any award shall have been received or whether such award is sufficient to pay for the costs of such repair and restorationCredit Agreement.

Condemnation/Eminent Domain. Mortgagor represents and warrants that as of the date hereof, there is no condemnation affecting the Mortgaged Property, and to the knowledge of Mortgagor, no such condemnation is proposed or threatened. Promptly upon obtaining knowledge of the institution of any proceedings for the condemnation of the Mortgaged Property, or any portion thereof, Mortgagor will notify Mortgagee of the pendency of such proceedings. Mortgagee is hereby authorized and empowered by Mortgagor to settle or compromise any claim in connection with such condemnation and to receive all awards and proceeds thereof to be held by Mortgagee as collateral to secure the payment and performance of the Obligations. Notwithstanding the preceding sentence, provided Provided no Event of Default shall have occurred and be continuing, Mortgagor shall, at its expense, diligently prosecute any proceeding relating to such condemnation, settle or compromise any claims in connection therewith and receive any awards or proceeds thereof, subject to Section 4.03(b) of the Credit Agreement, provided that Mortgagor shall promptly repair and restore the Mortgaged Property to its substantially the same condition as prior to such condemnationcondemnation (to the extent it is commercially reasonable to do so), regardless of whether any award shall have been received or whether such award is sufficient to pay for the costs of such repair and restoration, except to the extent constituting Net Cash Proceeds and applied pursuant to Section 4.03(b) of the Credit Agreement.

Condemnation/Eminent Domain. Promptly upon Upon obtaining knowledge of the institution of any proceedings for the condemnation of the Mortgaged Property, or any portion thereof, Mortgagor will notify Mortgagee of the pendency of such proceedings. Mortgagee is hereby authorized and empowered by Mortgagor to settle or compromise any claim in connection with such condemnation and to receive all awards and proceeds thereof thereof, or otherwise to be held by Mortgagee as collateral to secure the payment and performance of the Obligations. Notwithstanding the preceding sentence, provided no Event of Default shall have occurred and be continuing, but subject to the Mortgagee’s sole and absolute discretion, (i) Mortgagor shall, at its expense, diligently prosecute any proceeding relating to such condemnation, (ii) Mortgagor may settle or compromise any claims in connection therewith and (iii) Mortgagor may receive any awards or proceeds thereof, provided that Mortgagor shall (a) promptly repair and restore the Mortgaged Property to its condition prior to such condemnation, regardless of whether any award shall have been received or whether such award is sufficient to pay for the costs of such repair and restorationrestoration or (b) otherwise comply with the provisions of the Purchase Agreement or any other Transaction Document.