Condemnation Award definition

Condemnation Award means all proceeds of any Condemnation or transfer in lieu thereof.
Condemnation Award means the total condemnation proceeds actually paid by the condemnor as a result of the condemnation of all or any part of the property subject to the Mortgage less all expenses (including attorneysfees and any extraordinary fee of the Trustee) incurred in the realization thereof.
Condemnation Award means any award(s) paid or payable (whether or not in a separate award) to either party after the Commencement Date because of or as compensation for any Condemnation, including: (1) any award made for any Improvements that are the subject of the Condemnation; (2) the full amount paid or payable by the condemning authority for the estate that is the subject of the Condemnation, as determined in Condemnation; (3) any interest on such award; and (4) any other sums payable on account of such Condemnation, including for any prepayment premium under any Mortgage.

Examples of Condemnation Award in a sentence

Any Condemnation Award in excess of the amounts as are made available to Tenant for restoration or repair of the Improvements, shall be allocated between Landlord and Tenant in the manner set forth in paragraph 14.

Tenant (subject to the rights of Leasehold Mortgagees) shall, at its sole cost and expense, negotiate and, if deemed necessary by Tenant in Tenant’s sole discretion, litigate, the amount of the Condemnation Award, and Landlord and any Leasehold Mortgagee shall have the right to participate in such process.

Any Condemnation Award to Landlord and Tenant shall be combined into a single award, and then shall be allocated between Landlord (subject to the rights of Fee Mortgages) and Tenant (subject to the rights of Leasehold Mortgagees) ratably in proportion to: (a) the fair market value of the Fee Estate, as to Landlord; and (b) the fair market value of the Leasehold Estate, as to Tenant.

If a Temporary Condemnation occurs, the Condemnation Award from such Temporary Condemnation shall belong to Tenant (subject to the rights of Leasehold Mortgagees and this Lease shall not be affected in any way).

Any Condemnation Award shall be delivered to and held by the Proceeds Trustee until the allocations have been determined in accordance with the foregoing, at which time the Proceeds Trustee shall disburse the Condemnation Award in accordance with such allocations.


More Definitions of Condemnation Award

Condemnation Award means all sums, amounts or other compensation for the Arena payable to the Rangers or Licensor as a result of or in connection with any Condemnation.
Condemnation Award means all proceeds of any Condemnation or transfer in lieu thereof with respect to any Portfolio Railcar or other item of Collateral.
Condemnation Award means all proceeds of any taking of real or personal property, or any part thereof or interest therein, for public or quasi-public use under the power of eminent domain, by reason of any public improvement or condemnation proceeding, or in any other manner, or transfer in lieu thereof.
Condemnation Award means the amount remaining from an award to the Developer for the acquisition of title to and possession of the Minimum Improvements or any material part thereof, after deducting all expenses (including fees and disbursements of counsel) incurred in the collection of such award.
Condemnation Award means all proceeds of any Condemnation.
Condemnation Award means any and all judgments, awards of damages (including, but not limited to, severance and consequential damages), payments, proceeds, settlements, amounts paid for a taking in lieu of Condemnation, or other compensation heretofore or hereafter made, including interest thereon, and the right to receive the same, as a result of, or in connection, with, any Condemnation or threatened Condemnation.