Common use of Prosecution of Awards Clause in Contracts

Prosecution of Awards. (a) With respect to any condemnation with respect to any Leased Property, Lessee shall control the negotiations with the relevant governmental authority; provided, however, that if an Event of Default shall have occurred and be continuing Lessor or its assigns shall control such negotiations. Lessee hereby irrevocably assigns, transfers and sets over to Lessor all rights of Lessee to any award made during the continuance of an Event of Default on account of any condemnation and, if there will not be separate awards to the Lessor and the Lessee on account of such condemnation, irrevocably authorizes and empowers Lessor during the continuance of an Event of Default, with full power of substitution in the name of Lessee or otherwise (but without limiting the obligations of Lessee under this Article), to file and prosecute what would otherwise be Lessee's claim for any such Award and, in the case of Lessor, to collect, receipt for and retain the same in accordance with Section 6.3 of the Indenture; provided, however, that in any event Lessor may participate in any such negotiations, and no settlement will be made without Lessor's prior consent, not to be unreasonably withheld.

Appears in 3 contracts

Samples: Lease and Development Agreement (Minnesota Power & Light Co), Lease and Development Agreement (Minnesota Power & Light Co), Lease and Development Agreement (Minnesota Power & Light Co)

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Prosecution of Awards. (a) With respect to any condemnation with respect to any Leased PropertyUnless a Lease Event of Default shall have occurred and be continuing, Lessee shall control the negotiations with the relevant governmental authority; providedGovernmental Authority with respect to any Condemnation, however, provided that if an during the continuance of any Lease Event of Default shall have occurred and be continuing Default, (1) Lessor or its assigns shall control such negotiations. ; and (2) Lessee hereby irrevocably assigns, transfers and sets over to Lessor all rights of Lessee to any award Award made during the continuance of an a Lease Event of Default on account of any condemnation and, if there will not be separate awards Awards to the Lessor and the Lessee on account of such condemnationCondemnation, irrevocably authorizes and empowers Lessor during the continuance of an a Lease Event of Default, with full power of substitution substitution, in the name of Lessee or otherwise (but without limiting the obligations of Lessee under this ArticleArticle X), to file and prosecute what would otherwise be Lessee's ’s claim for any such Award and, in the case of Lessor, and to collect, receipt for and retain the same in accordance with Section 6.3 of the Indenturesame; provided, however, that in any event Lessor may participate in any such negotiations, and no settlement will be made without Lessor's the prior consent, consent of Lessor not to be unreasonably withheld.

Appears in 1 contract

Samples: Amended and Restated Lease Agreement (Lennox International Inc)

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Prosecution of Awards. (a) With respect to any condemnation with respect to any Leased PropertyUnless a Lease Event of Default shall have occurred and be continuing, Lessee shall control the negotiations with the relevant governmental authority; providedGovernmental Authority with respect to any Condemnation, however, provided that if an during the continuance of any Lease Event of Default shall have occurred and be continuing Default, (1) Lessor or its assigns shall control such negotiations. ; and (2) Lessee hereby irrevocably assigns, transfers and sets over to Lessor all rights of Lessee to any award Award made during the continuance of an a Lease Event of Default on account of any condemnation and, if there will not be separate awards Awards to the Lessor and the Lessee on account of such condemnationCondemnation, irrevocably authorizes and empowers Lessor during the continuance of an a Lease Event of Default, with full power of substitution substitution, in the name of Lessee or otherwise (but without limiting the obligations of Lessee under this ArticleArticle X), to file and prosecute what would otherwise be Lessee's ’s claim for any such Award and, in the case of Lessor, and to collect, receipt for and retain the same in accordance with Section 6.3 of the Indenturesame; provided, however, that in any event Lessor and Administrative Agent may participate in any such negotiations, and no settlement will be made without Lessor's the prior consent, consent of Lessor not to be unreasonably withheld.

Appears in 1 contract

Samples: Lease Agreement (Lennox International Inc)

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