Common use of Condemnation Payments Clause in Contracts

Condemnation Payments. In the event a Condemnation is to occur, you will pay us the fees set forth in Section 7 for a period of six months after we receive the initial notice of condemnation described in Section 11.3.2, or until the Condemnation occurs, whichever is longer. You will pay us Liquidated Damages equal to the average daily Recurring Fees for the six month period preceding the date of your condemnation notice to us multiplied by the number of days remaining in the six month notice period if the Condemnation is completed before the six month notice period expires. This payment will be made within 30 days after Condemnation is completed (when you close the Facility or you deliver it to the condemning authority). If the Condemnation is completed after the six month notice period expires you will pay no Liquidated Damages, but you must pay the fees set forth in Section 7 when due until Condemnation is completed.

Appears in 3 contracts

Samples: Franchise Agreement (Golden Opportunity Development Corp), Franchise Agreement (Golden Opportunity Development Corp), Franchise Agreement (Golden Opportunity Development Corp)

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Condemnation Payments. In the event a Condemnation is to occur, you will pay us the fees set forth in Section 7 for a period of six months one year after we receive the initial notice of condemnation described in Section 11.3.2, or until the Condemnation occurs, whichever is longer. You will pay us Liquidated Damages equal to the average daily Recurring Fees Royalties and Basic Reservation Charges for the six month one year period preceding the date of your condemnation notice to us multiplied by the number of days remaining in the six month one year notice period if the Condemnation is completed before the six month one year notice period expires. This payment will be made within 30 days after Condemnation is completed (when you close the Facility or you deliver it to the condemning authority). If You will pay no Liquidated Damages if the Condemnation is completed after the six month one year notice period expires you will pay no Liquidated Damagesexpires, but you must pay the fees set forth in Section 7 when due until Condemnation is completed.

Appears in 3 contracts

Samples: Days Inn System License Agreement (Hosp-Italia Industries Inc), Days Inn System License Agreement (Hosp-Italia Industries Inc), System License Agreement (Hosp-Italia Industries Inc)

Condemnation Payments. In the event a Condemnation is to occur, you will pay us the fees set forth in Section 7 for a period of six months one year after we receive the initial notice of condemnation described in Section 11.3.2, or until the Condemnation occurs, whichever is longer. You will pay us Liquidated Damages equal to the average daily Recurring Royalties and RINA Services Assessment Fees for the six month one year period preceding the date of your condemnation notice to us multiplied by the number of days remaining in the six month one year notice period if the Condemnation is completed before the six month one year notice period expires. This payment will be made within 30 days after Condemnation is completed (when you close the Facility or you deliver it to the condemning authority). If You will pay no Liquidated Damages if the Condemnation is completed after the six month one year notice period expires you will pay no Liquidated Damagesexpires, but you must pay the fees set forth in Section 7 must be paid when due until Condemnation is completed.

Appears in 1 contract

Samples: Pledge Agreement (Chartwell Leisure Inc)

Condemnation Payments. In the event a Condemnation is to occur, you will pay us the fees set forth in Section 7 for a period of six months one year after we receive the initial notice of condemnation described in Section 11.3.2, or until the Condemnation occurs, whichever is longer. You will pay us Liquidated Damages equal to the average daily Recurring Fees for the six month one year period preceding the date of your condemnation notice to us multiplied by the number of days remaining in the six month one year notice period if the Condemnation is completed before the six month one year notice period expires. This payment will be made within 30 days after Condemnation is completed (when you close the Facility or you deliver it to the condemning authority). If the Condemnation is completed after the six month one year notice period expires you will pay no Liquidated Damages, but you must pay the fees set forth in Section 7 must be paid when due until Condemnation is completed.

Appears in 1 contract

Samples: License Agreement (American Wagering Inc)

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Condemnation Payments. In the event a Condemnation is to occur, you will pay us the fees set forth in Section 7 Recurring Fees for a period of six months one year after we receive the initial notice of condemnation described in Section 11.3.211.3, or until the Condemnation occurs, whichever is longer. You will pay us Liquidated Damages equal to the average daily Recurring Fees Royalties and Basic Reservation Charges for the six month one year period preceding the date of your condemnation notice to us multiplied by the number of days remaining in the six month one year notice period if the Condemnation is completed before the six month one year notice period expires. This payment will be made within 30 days after Condemnation is completed (when you close the Facility or you deliver it to the condemning authority). If You will pay no Liquidated Damages if the Condemnation is completed after the six month one year notice period expires you will pay no Liquidated Damagesexpires, but you Recurring Fees must pay the fees set forth in Section 7 be paid when due until Condemnation is completed.

Appears in 1 contract

Samples: License Agreement (Janus Industries Inc)

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