Taking. In the case of a complete or substantially complete taking of the Property, this Lease shall not terminate; and the award shall be split between Tenant and Landlord based on an appraised valuation of their respective interests in the Property, with Tenant receiving the amount equal to the value of its interest in this Lease and the Improvements immediately prior to the taking, and with Landlord receiving the value of its remainder interest in the fee estate after the termination of this Lease. Any balance owed to Leasehold Mortgagees is to be paid solely out of Tenant’s share.
Appears in 12 contracts
Samples: Master Lease Agreement (Aimco OP L.P.), Master Lease Agreement (Aimco OP L.P.), Master Leasing Agreement (Aimco OP L.P.)
