Distribution of Condemnation Proceeds Sample Clauses

Distribution of Condemnation Proceeds. Condemnation proceeds shall be apportioned in the same manner as insurance proceeds are apportioned pursuant to Section 11.2 of this Lease; provided, however, that nothing set forth in this Lease shall be deemed a waiver of Tenant’s exclusive right to any and all awards that may be made for damages to, or taking of, interior Improvements by Tenant, for loss of Tenant’s business, or for relocation expenses so long as Landlord’s award is not reduced thereby.
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Distribution of Condemnation Proceeds. In the event of a taking the award, net of expenses of negotiation and litigation, shall be distributed as follows:
Sample 1
Distribution of Condemnation Proceeds. To the extent permitted by law, in the event of a taking in a Condemnation Proceeding which results in the termination of this Lease pursuant to Section 19.01, Landlord and Tenant shall cooperate in the prosecution of the Condemnation Proceeding and shall request the court or board having jurisdiction of the Condemnation Proceedings to determine the reversion value of the Premises and the Tenant’s rights under this Lease separately. The aggregate net award (the “net award”) for the taking of the of the Premises and Tenant’s rights under this Lease, after deducting all expenses and costs, including attorney’s fees, shall be payable on a pro rata basis to the extent of the funds available:
Sample 1
Distribution of Condemnation Proceeds. In the event of a ------------- ------------------------------------- taking, Landlord and Tenant shall cooperate in the prosecution of the Condemnation Proceedings and shall request the court or board having jurisdiction of the Condemnation Proceedings to determine the value of the Premises and the Facility separately. The aggregate net award (the "net award") for the taking of the Premises and the Facility, after deducting all expenses and costs, including attorneys' fees, shall be payable to Landlord, Tenant, and the holder of any Permitted Mortgage and distributed as follows:
Sample 1
Distribution of Condemnation Proceeds. The net award for any taking of the Existing Plant, after deducting all expenses and costs, including attorneys fees ("the net award") shall be apportioned between Owner and Operator as follows:
Sample 1
Distribution of Condemnation Proceeds. (a) In the event all or a portion of the Area A portion of the Premises are taken or transferred as described in Section 10.01 and this Lease is terminated as set forth above, this Lease shall terminate, and Tenant shall, upon Landlord's request, if made prior to the date of termination of this Lease, demolish all buildings on any part of the Area A portion of the Premises not subject to the taking, remove all debris and grade the Area A portion of the Premises to such condition as is reasonably acceptable to Landlord. The condemnation award attributed to the Area A portion of the Premises shall be divided and paid as follows:
Sample 1
Distribution of Condemnation Proceeds. In the event of a taking which results in the termination of all or any portion of this Lease pursuant to Section 20.01 hereof, Landlord and Tenant shall cooperate in the prosecution of the Condemnation Proceedings and shall request the court or board having jurisdiction of the Condemnation Proceedings to determine the value of the Premises and the Improvements separately. The aggregate net award (the "net award") for the total taking of the Premises and Improvements or one which results in the termination of this Lease, after deducting all expenses and costs, including attorney's fees, shall be payable to Landlord and Tenant as follows:
Sample 1
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Related to Distribution of Condemnation Proceeds

  • Distribution of Collateral Proceeds In the event that, following the occurrence and during the continuance of any Event of Default, any monies are received in connection with the enforcement of any of the Loan Documents, or otherwise with respect to the realization upon any of the Collateral or other assets of the Borrower or the Guarantors, such monies shall be distributed for application as follows:

  • Condemnation Proceeds all Condemnation Proceeds other than proceeds to be applied to the restoration or repair of the property subject to the related Mortgage or released to the related Mortgagor in accordance with the Servicing Standard, which proceeds shall be deposited by the Master Servicer into an Escrow Account and not deposited in the Collection Account;

  • Insurance Proceeds All proceeds of and any unearned premiums on any insurance policies covering the Property, including, without limitation, the right to receive and apply the proceeds of any insurance, judgments, or settlements made in lieu thereof, for damage to the Property;

  • Liquidation Proceeds Cash received in connection with the liquidation of a defaulted Mortgage Loan, whether through the sale or assignment of such Mortgage Loan, trustee’s sale, foreclosure sale, payment in full, discounted payoff or otherwise, or the sale of the related Mortgaged Property if the Mortgaged Property is acquired in satisfaction of the Mortgage Loan, including any amounts remaining in the related Escrow Account.

  • Insurance/Condemnation Proceeds No later than the fifth Business Day following the date of receipt by any Loan Party or any of its Subsidiaries, or Collateral Agent as lender loss payee, of any Net Proceeds from insurance or any condemnation, taking, or other casualty, Lead Borrower shall prepay the Loans in an aggregate amount equal to such Net Proceeds; provided, that (i) so long as no Default or Event of Default shall have occurred and be continuing, (ii) Lead Borrower has delivered Administrative Agent prior written notice of Lead Borrower’s intention to apply the Reinvestment Amounts to the costs of replacement of the properties or assets that are the subject of such condemnation, taking, or other casualty or the cost of purchase or construction of other assets useful in the business of the Loan Parties or their Subsidiaries reinvested within twelve (12) months (or within 18 (eighteen) months following receipt thereof if a contractual commitment to reinvest is entered into within twelve (12) months following receipt thereof) following the date of the receipt of such Net Proceeds, (iii) the monies are held in a Deposit Account in which Collateral Agent has a perfected first-priority security interest, and (iv) the Loan Parties and their Subsidiaries complete such replacement, purchase, or construction within twelve (12) months after the initial receipt of such monies (or within eighteen (18) months following receipt thereof if a contractual commitment to reinvest is entered into within twelve (12) months following receipt thereof), the Loan Parties and their Subsidiaries shall have the option to apply such monies, in an aggregate amount not to exceed $2,500,000 in any Fiscal Year, to the costs of replacement of the assets that are the subject of such condemnation, taking, or other casualty or the costs of purchase or construction of other assets useful in the business of the Loan Parties and their Subsidiaries unless and to the extent that such applicable period shall have expired without such replacement, purchase, or construction being made or completed, in which case, any amounts remaining in the cash collateral account shall be paid to Administrative Agent and applied in accordance with Section 2.14(a).

  • Distribution of Liquidation Proceeds Subject to the terms and conditions hereof, the Administrative Agent shall distribute all Liquidation Proceeds in the order and manner set forth below:

  • Condemnation Awards and Insurance Proceeds Mortgagor assigns all awards and compensation to which it is entitled for any condemnation or other taking, or any purchase in lieu thereof, to Mortgagee and authorizes Mortgagee to collect and receive such awards and compensation and to give proper receipts and acquittances therefor, subject to the terms of the Credit Agreement. Mortgagor assigns to Mortgagee all proceeds of any insurance policies insuring against loss or damage to the Mortgaged Property, subject to the terms of the Credit Agreement. Mortgagor authorizes Mortgagee to collect and receive such proceeds and authorizes and directs the issuer of each of such insurance policies to make payment for all such losses directly to Mortgagee, instead of to Mortgagor and Mortgagee jointly, subject to the terms of the Credit Agreement.

  • Excess Liquidation Proceeds 35 FDIC..........................................................................................35 FHA...........................................................................................35

  • Sale Proceeds The proceeds of sale of any new Series of Notes shall be wired to the Collection and Funding Account, and the Indenture Trustee shall disburse such sale proceeds at the direction of the Administrator on behalf of the Issuer, except to the extent such funds are needed to satisfy the Collateral Test. The Administrator on behalf of the Issuer may direct the Issuer to apply such proceeds to reduce pro rata based on Invested Amounts, the VFN Principal Balance of any Classes of Variable Funding Notes, or to redeem any Series of Notes in accordance with Section 13.1. In the absence of any such direction, the proceeds of such sale shall be distributed to the Depositor or at the Depositor’s direction on the Issuance Date for the newly issued Notes. The Administrator shall deliver to the Indenture Trustee a report demonstrating that the release of sale proceeds pursuant to the Issuer’s direction will not cause a failure of the Collateral Test, as a precondition to the Indenture Trustee releasing such proceeds.

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