Common use of Proceeds and Awards Clause in Contracts

Proceeds and Awards. Notwithstanding anything contained in the Lease to the contrary, as between Sublandlord and Subtenant only, all insurance proceeds (other than those proceeds paid out on insurance obtained by Subtenant) or condemnation awards claimed and received by Sublandlord under the Lease shall be deemed to be the property of Sublandlord.

Appears in 1 contract

Sources: Sublease (NovaBay Pharmaceuticals, Inc.)

Proceeds and Awards. Notwithstanding anything contained in the Lease to the contrary, as between Sublandlord and Subtenant only, all insurance proceeds (other than those proceeds paid out on insurance obtained by Subtenant) or condemnation awards claimed and received by Sublandlord under the Lease shall be deemed to be the property of Sublandlord.

Appears in 1 contract

Sources: Sublease (Electronic Arts Inc)