Net Condemnation Award definition

Net Condemnation Award means the proceeds of any award or payment on account of a Taking, together with any interest earned thereon, less the amount of any expenses incurred in litigating, arbitrating, compromising or settling any claim arising out of such Taking.

Net Condemnation Award shall have the meaning assigned to such term ---------------------- in Section 10.2 hereof. ------------ "Net Insurance Proceeds" shall have the meaning assigned to such term ---------------------- in Section 10.1 hereof. ------------

Net Condemnation Award shall have the meaning assigned to such term in Section 10.2 hereof

Examples of Net Condemnation Award in a sentence

• In the event the taking for governmental occupancy is for a period entirely within the term of this Lease, then Lessee shall be entitled to receive the entire amount of any Net Condemnation Award made for the taking, whether paid by way of damages, Rent or otherwise.

• If the period of governmental occupancy extends beyond the termination of the Lease Term, the Lessor shall only be entitled to receive that portion of the Net Condemnation Award allocable to the period beyond the termination of the Lease Term.

• Lessee shall to the extent the proceeds of the Net Condemnation Award are made available to it, pursuant to the terms hereof, remodel, repair and restore the Property so that it shall be comparable to the Property prior to the condemnation, taking into consideration the fact of the condemnation; provided, however, that in so doing, Lessee shall not be required to expend more than the amount of any Net Condemnation Award actually received by Lessee.

• Unless the effect of a condemnation proceeding shall be to terminate this Lease by operation of law or as provided in Section 14.2 above, any Net Condemnation Award made in respect to the Property in a condemnation proceeding shall be deposited with an escrow agent selected by the Lessor and Lessee escrow agent) to be disbursed for the cost of restoring the Property and for other related purposes.

• Landlord shall not be entitled to any portion of any Net Condemnation Award payable in connection with the Condemnation of the Personal Property of Tenant or any of its Subtenants or in connection with Tenant’s or any of its Subtenants’ moving and/or relocation expenses.

More Definitions of Net Condemnation Award

Net Condemnation Award shall have the meaning set forth in Section 11.2(a).

Net Condemnation Award means the total amount awarded as compensation for any part of the Building taken under the exercise of the power of eminent domain plus damages to any part not taken, less and except (i) any portion thereof to which Landlord is entitled, as provided herein, and (ii) all attorneys’ fees and other costs and expenses incurred in the condemnation proceeding with respect to which such award was made (other than those paid directly by Landlord or deducted, pursuant to the provisions herein, from the portion of the award to which Landlord is entitled).

Net Condemnation Award means the total amount awarded as compensation for any part of the Premises taken under the exercise of the power of eminent domain plus damages to any part not taken, less and except (i) any portion thereof to which the Tenant is entitled under the provisions of Section 6.2 hereof, and (ii) all attorneys' fees and other expenses incurred in the condemnation proceeding with respect to which such award was made (other than those paid directly by the Tenant or deducted, pursuant to the provisions of said Section 6.2, from that portion of the award to which it is entitled under the provisions thereof).

Net Condemnation Award means the total amount received as compensation for any part of the Mortgaged Property taken under the exercise of the power of Eminent Domain, plus damages to any part of the Mortgaged Property not taken, which compensation shall consist of (i) all awards received pursuant to administrative or judicial proceedings conducted in connection with the exercise of the power of Eminent Domain, plus (ii) all amounts received as a result of any settlement of compensation claims (whether in whole or in part) negotiated with the condemning authority, less (iii) all attorneys' fees and other expenses incurred in connection with the receipt of such compensation, including attorneys' fees and expenses relating to such administrative or judicial proceedings and to such settlement negotiations.

Net Condemnation Award as defined in Section 10.8.

Net Condemnation Award means the actual amount of the award paid in connection with or arising from the acquisition or other taking ofall or Substantially All of the Premises or any portion of the Premises by any authority, less all reasonable out-of-pocket expenses incurred by Owner, Tenant or Recognized Mortgagee in connection with obtaining such award, including, without limitation, all reasonable attorneys' fees and disbursements incurred in connection therewith. Section 9.2 Less Than Substantial Taking. (a) Taking of L.ess than Substantially All of the Premises. If less than Substantially All of the Premises are taken for any public or quasi-public purpose by any lawful power or authority by the exercise of the right of condemnation or eminent domain or by agreement among Owner, Tenant, any Recognized Mortgagee and the entity authorized to exercise such right, whether prior to or after the completion of the initial construction of the Project, this Lease shall continue for the remainder of the Term (subject to paragraph (b) below) without diminution of any of Tenant's obligations hereunder, but with a fair and equitable abatement of Rental and, in the event Tenant is then making payments to Owner pursuant to Section 3.2(1), such payments, taking into account, amongst other things, that the Net Condemnation Award (if not sufficient for the Condemnation Restoration) is insufficient to complete the Condemnation Restoration. (b)

Net Condemnation Award means the net amounts owed or paid to the Parties or to which either of the Parties may be or become entitled by reason of any Taking or pursuant to any agreement with any condemning authority which has been made in settlement of any proceeding relating to a Taking, less any costs and expenses incurred by the Parties in collecting such award or payment.