Damage Award Clause Samples
Damage Award. All damages awarded for such taking under the power of eminent domain, whether for the whole or a part of the Leased Premises, shall be the property of Landlord, whether such damages shall be awarded as compensation for diminution in value of the leasehold or to the fee of the Leased Premises; provided, however, that Landlord shall not be entitled to any separate award made to Tenant for the unamortized cost of Tenant’s alterations or improvements to the Leased Premises, its costs of relocating from the Leased Premises, loss of business (except to the extent Landlord’s award is reduced as a result thereof) and cost of removal of Tenant’s inventory and fixtures.
Damage Award. All damages awarded for the taking of all or any part of Lease Area, or State-owned Improvements thereon, shall belong to and become the property of State, and Lessee hereby assigns to State any and all claims to such award. However, State shall not claim any interest in or to Lessee’s Equipment and authorized Improvements. To the extent not inconsistent with this Section, Lessee may, on its own behalf, make a claim to the condemnation authority for losses related to its Equipment, relocation costs, business interruption costs, damages, and losses in any condemnation.