Common use of Rights of Leasehold Mortgagee Clause in Contracts

Rights of Leasehold Mortgagee. Nothing contained in this ARTICLE 12 shall be construed so as to impair any rights of any Leasehold Mortgagee to any condemnation proceeds as its interest may appear, but in no event shall the Leasehold Mortgagee be entitled to any condemnation proceeds allocate or pertaining to Landlord’s ownership of the property subject to this Lease, including Landlord’s rights in the Common Areas. To the extent that any such proceeds are payable to any Leasehold Mortgagee such proceeds shall be paid out of the Tenant’s award only, as determined by the foregoing provisions of this ARTICLE 12, in the same proportions as such respective shares bear to the total condemnation award.

Rights of Leasehold Mortgagee. Nothing contained in this ARTICLE 12 shall be construed so as to impair any rights of any Leasehold Mortgagee to any condemnation proceeds as its interest may appear, but in no event shall the Leasehold Mortgagee be entitled to any condemnation proceeds allocate or pertaining to Landlord’s ownership of the property subject to this Lease, including Landlord’s rights in the Common Areas. To the extent that any such proceeds are payable to any Leasehold Mortgagee such proceeds shall be paid out of the Tenant’s award only, as determined by the foregoing provisions of this ARTICLE 12, in the same proportions as such respective shares bear to the total condemnation award.