Common use of Temporary Use Clause in Contracts

Temporary Use. In the event of a taking of all or a part of the Premises for temporary use, this lease shall continue without change, as between Landlord and Tenant, and Tenant shall be entitled to the award made for such use, provided that: (a) the award shall be apportioned between Landlord and Tenant as of the date of the expiration of the then current Term; and provided, further that if any such award shall be in a lump sum or in installments covering a period of time greater than three months, Tenant shall be entitled to a sum equal to a maximum of three months’ rent and the balance of such award shall be deposited with Landlord (or with an authorized institution as selected by Tenant) for payment to Tenant in equal quarter-annual installments; and (b) Tenant shall be entitled to file and prosecute any claim against the condemning authority for damages and to recover the same, for any negligent use, waste or injury to the demised premises throughout the balance of the then current term of this lease. The amount of damages so recovered shall be paid directly to Landlord and shall be distributed in the same manner as provided in Section 22 with respect to proceeds of insurance.

Appears in 2 contracts

Sources: Equity Purchase Agreement (Infrastructure & Energy Alternatives, Inc.), Equity Purchase Agreement (Infrastructure & Energy Alternatives, Inc.)