Proceeds of Condemnation. In the event that Optionee elects, or is deemed to have elected, to accept such Owned Property or Property Under Contract, as applicable, subject to Condemnation Action pursuant to Section 12(a) hereof, then the parties hereto shall proceed to the Closing in accordance with this Agreement, without modification of the terms hereof, except that (a) the Property will not include the property so taken, (b) the Option Price will be reduced by the amount of any awards for such taking received by any Optionor as of the Closing, and (c) such Optionor shall assign and turn over to Optionee, and Optionee shall be entitled to receive and retain, all awards for such taking not yet awarded as of the Closing. This Section 12 supersedes, and the parties waive, the provisions of California Civil Code Section 1662.
Proceeds of Condemnation. Landlord shall be entitled to the entire proceeds of any and all awards made as a result of any condemnation affecting the Shopping Center and the proceeds of any private purchase or transfer in lieu of such condemnation. Tenant shall not be entitled to any award or proceeds as a result of any value attributable to Tenant’s interest in this Lease or the unexpired portion of the Lease Term. However, in the event that the condemning authority shall entertain such claim, Tenant shall have the right to prosecute a claim directly against the condemning authority for its trade fixtures and relocation costs, provided that no such claim shall diminish or otherwise adversely affect Landlord’s claims and the claims of any mortgagees, ground lessors or owners of any interest in the Shopping Center.
Proceeds of Condemnation. (a) Immediately after the commencement of any condemnation or similar proceedings by a third party in the exercise of a power of eminent domain, or a power in the nature of eminent domain affecting the Project, the Borrower shall notify the Administrative Agent thereof in writing. Any condemnation awards or other similar compensation received shall be applied as provided in subsections (b), (c), (d), (e) and (f) below.
Proceeds of Condemnation. The Landlord and Tenant shall each be entitled to receive and retain such separate awards and portions of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. The termination of this lease shall not affect the rights of the respective parties to such awards.
Proceeds of Condemnation. In the event of any condemnation or taking as aforesaid, whether whole or partial, the Tenant shall not be entitled to any part of the award paid for such condemnation and Landlord is to receive the full amount of such award, the Tenant hereby expressly waiving any right or claim to any part thereof; provided, however, Tenant shall have the right to claim and recover from the condemning authority, but not from Landlord, such compensation as may be separately awarded or recoverable by Tenant, in Tenant's own right, on account of any and all damage to Tenant's business by reason of the condemnation and for or on account of any cost or loss to which Tenant might be put in the loss or removal of Tenant's merchandise, furniture, fixtures and such leasehold improvements and equipment to which title has not vested in Landlord pursuant to the terms of this Lease. In the event of any termination of the Lease under this Article, Minimum Rent shall be prorated to the date of vacation of the Premises. Tenant agrees to promptly execute any and all instruments as may be required to effectuate the provisions of this Article.
Proceeds of Condemnation. In the event that the Developer elects, or is deemed to have elected, to accept the Sale Property subject to Condemnation Action pursuant to Section 8(a) above, then the parties shall proceed to the Closing in accordance with this Exhibit C, without modification of the terms of the ROFO Agreement, except that (a) the Sale Property will not include the property so taken, (b) the Offer Price will be reduced by the amount of any awards for such taking received by the Owner as of the Closing, and (c) the Owner shall assign and turn over to the Developer, and the Developer shall be entitled to receive and retain, all awards for such taking not yet awarded as of the Closing. This Section supersedes, and the parties waive, the provisions of California Civil Code Section 1662.
Proceeds of Condemnation. Landlord shall be entitled to receive the award in any proceeding with respect to any taking provided for in this Section without deduction therefrom for any estate vested in Tenant by this Lease and Tenant shall receive no part of such award, except as hereinafter expressly provided herein. Tenant may make a claim with the condemning authority (and shall be entitled to the award) for Tenant’s business relocation damages, Personal Property, FF&E that is owned by Tenant, any Alterations made by Tenant hereunder and any other award customary for tenants under similar leases. Each party shall seek its own award, at its own expense, unless governing law permits only one action for such award, in which case the parties shall work together in good faith in the pursuit of such award that each is entitled to hereunder before the condemning authority. (d)
Proceeds of Condemnation. All compensation awarded or paid upon a condemnation of any portion of the Project shall belong to and be the property of Landlord without participation by Tenant. Nothing herein shall be construed, however, to preclude Tenant from prosecuting any claim directly against the condemning authority for loss of business, loss of good will, moving expenses, damage to, and cost of removal of, trade fixtures, furniture and other personal property belonging to Tenant; provided, however, that Tenant shall make no claim which shall diminish or adversely affect any award claimed or received by Landlord.
Proceeds of Condemnation. All proceeds from any taking or condemnation under Section 16.1 or 16.2 shall belong to and be paid to Landlord. Tenant shall have the right to claim and receive directly from the entity exercising the power of eminent domain the portion of any award determined to be owing for the taking of improvements installed in the portion of the Premises so taken by Tenant at Tenant's sole cost and expense based on the unamortized costs actually paid by Tenant for such improvements, for the taking of Tenant's movable furniture, equipment, trade fixtures and personal property, for loss of goodwill, for interference with or interruption of Tenant's business, or for removal and relocation expenses.
Proceeds of Condemnation. (i) If the Facility or the Leased Premises on which the Facility is constructed shall be taken or condemned for any public purpose, or for any reason whatsoever, to such an extent as to be rendered untenantable or unusable for the purposes described herein, then all condemnation proceeds shall be paid to County, as fiscal agent for the Parties, except any proceeds attributable to the valuation of the land (exclusive of the value of the Facility) shall be paid to UVa. The County shall distribute condemnation proceeds among the Parties to this Agreement, in the same percentages set forth within Section IV of this Agreement.
