TENANT'S RIGHT TO AWARD Clause Samples

TENANT'S RIGHT TO AWARD. Notwithstanding anything to the contrary set forth in SECTION 13.1 above, Tenant shall have the right to claim and recover and Landlord hereby assigns to Tenant from the award, (i) the fair market value of Tenant Improvements and Alterations to the extent paid for solely by Tenant, (ii) fifty percent (50%) of any sum attributable to a diminution of the present value (at the date of such taking) of the fair market rental value of portions of the Premises not condemned for the remainder of the term and any extensions, (iii) fifty percent (50%) of any sum attributable to an excess of the present value (at the date of taking) of the fair market rental value of the condemned portion of the Premises for the remainder of the term and any extensions over the present value at the date of taking of the actual Base Rent for the remainder of the Lease Term and any Option Term, (iv) any sum awarded to Tenant for damages to or loss of Tenant's business, and (v) such compensation as may be separately awarded or recoverable by Tenant on account of any and all costs or losses related to removing Tenant's merchandise, furniture, fixtures, leasehold improvements, and equipment to a new location.

TENANT'S RIGHT TO AWARD. Notwithstanding Part III, Section 16.2: (a) Tenant shall be entitled to receive any amount attributable to any excess of (i) the present value of the fair market base rent over (ii) the Base Rent, for that portion of the Leased Premises subject to the condemnation or taking for the remainder of the Lease Term, as of the date on which title to the Property or any portion thereof subject to the condemnation or taking is vested in the condemning authority (the “bonus value”); and (b) Tenant shall have the right to make a separate claim in the condemnation proceeding for: (i) the taking of the unamortized or undepreciated value of any leasehold improvements owned by Tenant that Tenant has the right to remove at the end of the Lease Term and that Tenant elects not to remove; (ii) reasonable removal and relocation costs for any leasehold improvements that Tenant has the right to remove and elects to remove; (iii) loss of goodwill; (iv) relocation costs under Government Code section 7262, the claim for which Tenant may pursue by separate action independent of this Lease; and (v) any other amount in addition to the foregoing that does not reduce the amount of the Award payable to Landlord. Tenant shall have the right to negotiate directly with the condemning authority for the recovery of the portion of the Award that Tenant is entitled to under this subsection 16.3(b).

TENANT'S RIGHT TO AWARD. Subject to the provisions of SECTION 13.1 above, Tenant shall have the right to claim and recover (i) any sum awarded to Tenant for damages to or loss of Tenant's business, and (ii) such compensation as may be separately awarded or recoverable by Tenant on account of any and all costs or losses related to removing Tenant's merchandise, furniture, fixtures, leasehold improvements, and equipment to a new location, so long as such claims do not diminish the award available to Landlord or its ground lessor, if any, with respect to the Building or Project, or its mortgagee, and such claim is payable separately to Tenant. Notwithstanding anything to the contrary herein contained, in the event that Tenant exercises the option set forth in Section 13.1 to terminate this Lease, then Tenant shall have the right to claim and recover for Covered Alterations (as defined below) as follows: (i) any claim payable separately to Tenant shall be payable only so long as such claim does not diminish the award available to Landlord, its ground lessor, if any, and/or its mortgagee; and (ii) if there is a single award, then the award allocable to the Premises, after deduction of all reasonable costs, including without limitation, costs to restore, if applicable, and reasonable attorney's fees, incurred by Landlord in establishing said claim and collecting said award, shall be allocated between Landlord's (and its mortgagee's) interest and Tenant's interest as follows and in the following order : (1) first, the entire claim of any mortgagee shall be paid; (2) second, Landlord shall be reimbursed for the fair market value of its interest in Premises (less the amount of the principal of any mortgage paid to mortgagee pursuant to clause (1)); (3) third, Tenant shall be reimbursed for the unamortized portion of the cost of any Alterations paid for solely by Tenant ("Covered Alterations"), amortized over the Initial Term of the Lease; and (4) the balance of the award, if any shall be paid to Landlord.

TENANT'S RIGHT TO AWARD. Subject to the provisions of Section 13.1 above, Tenant shall have the right to claim and recover (i) the fair market value of the Alterations to the extent paid for solely by Tenant, (ii) any sum awarded to Tenant for damages to or loss of Tenant’s business, and (iii) such compensation as may be separately awarded or recoverable by Tenant on account of any and all costs or losses related to removing Tenant’s merchandise, furniture, fixtures, leasehold improvements, and equipment to a new location.