Common use of Awards and Damages Clause in Contracts

Awards and Damages. All judgments, awards of damages, settlements and compensation made in connection with or in lieu of (a) taking of all or any part of or any interest in the Property by or under assertion of the power of eminent domain, (b) any damage to or destruction of the Property or any part thereof by insured casualty, and (c) any other injury or damage to all or any part of the Property, are hereby assigned to and shall be paid to the Lender. The Lender is authorized and empowered (but not required) to collect and receive any such sums and is authorized to apply them in whole or in part upon any indebtedness or obligation secured hereby, in such order and manner as the Lender shall determine at its option. The Lender shall be entitled to settle and adjust all claims under insurance policies provided under this Deed of Trust and may deduct and retain from the proceeds of such insurance the amount of all expenses incurred by it in connection with any such settlement or adjustment. All or any part of the amounts so collected and recovered by the Lender may be released to Borrower upon such conditions as the Lender may impose for its disposition. Application of all or any part of the amounts collected and received by the Lender or the release thereof shall not cure or waive any default under this Deed of Trust. If the Property is abandoned by Xxxxxxxx, or if, after notice by Xxxxxx to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to Lender within thirty (30) days after the date such notice is mailed, Lender is authorized to collect and apply the proceeds, at Lender’s option, either to restoration or repair of the Property or to the sum secured by this Deed of Trust.

Awards and Damages. All judgmentsExcept as expressly provided below, Landlord ------------------ reserves all rights to damages and awards paid because of damages, settlements and compensation made in connection with any Partial or in lieu of (a) taking of all or any part of or any interest in the Property by or under assertion Total Taking of the power of eminent domain, (b) any damage to Premises or destruction the Project. So long as it does not reduce the amount of the Property or any part thereof by insured casualtyaward payable to Landlord, and Tenant (ci) any other injury or damage to all or any part of the Property, are hereby assigned to and shall be paid to the Lender. The Lender is authorized and empowered (but not required) to collect and receive any such sums and is authorized to apply them in whole or in part upon any indebtedness or obligation secured hereby, in such order and manner as the Lender shall determine at its option. The Lender shall be entitled to settle receive any amount attributable to any excess of the market value of the Premises for the remainder of the Term over the present value as of the Expiration Date of the rent payable for the remainder of the Term and adjust all (ii) shall have the right to make a separate claim in any condemnation proceeding for the taking of the unamortized or undepreciated value of the improvements and alterations owned by Tenant which Tenant may remove at the expiration or earlier termination of this Lease, reasonable removal and relocation costs for any improvements Tenant has the right to remove and elects to remove, relocation costs, the claim for which Tenant may pursue by separate action independent of this Lease and any other amount. Tenant shall have the right to negotiate directly with the condemnor for the recovery of the portion of the award that Tenant is entitled to under subsection (ii) above. Further, Tenant shall not make claims under insurance policies provided under this Deed against Landlord or the condemning authority for damages. If a temporary taking of Trust and may deduct and retain from the proceeds of such insurance the amount of all expenses incurred by it in connection with any such settlement or adjustment. All or any part of the amounts so collected and recovered by Premises or a portion of the Lender may be released to Borrower upon such conditions as the Lender may impose for its disposition. Application Project which prevents Tenant's use or occupancy of all or any part a material portion of the amounts collected Premises occurs through (a) the exercise of any government power (by legal proceedings or otherwise) by condemnor or (b) a voluntary sale or transfer by Landlord to any condemnor, either under threat of exercise of eminent domain by a condemnor or while legal proceedings for condemnation are pending, Rent shall xxxxx during the time of such taking in proportion to the portion of the Premises taken. The entire award relating to the temporary taking shall be and received by remain the Lender or the release thereof shall not cure or waive property of Landlord. Tenant irrevocably assigns and transfers to Landlord all rights to and interest in such award and fully releases and relinquishes any default under this Deed of Trust. If the Property is abandoned by Xxxxxxxxclaim to, or if, after notice by Xxxxxx to Borrower that the condemnor offers right to make an award or settle a claim for damageson, Borrower fails to respond to Lender within thirty (30) days after and any other interest in the date such notice is mailed, Lender is authorized to collect and apply the proceeds, at Lender’s option, either to restoration or repair of the Property or to the sum secured by this Deed of Trustaward.

Awards and Damages. All judgmentsIn the event of any Taking, Landlord and Tenant shall each have the right to prove and claim such sums and awards as they may show themselves to be entitled with respect to the Premises. In furtherance of damagesthe foregoing, settlements Landlord and compensation made Tenant shall cooperate with each other in connection good faith and in the pursuit of any claims that they may have against the condemning authority with or respect to the Premises in lieu order to maximize the monetary recovery paid by the condemning authority. If this Lease is terminated as a result of such taking, the proceeds of any award shall be paid to Landlord and Tenant in the following order: (1) the payment of all reasonable fees and expenses incurred in collecting the award (if jointly pursued by Landlord and Tenant); (2) Landlord to receive the fair market value of (a) taking of all or any part of or any interest in the Property by or under assertion land portion of the power of eminent domainProject that is taken, (b) any damage to or destruction of the Property or any part thereof by insured casualtyleasehold estate created hereunder, and (c) Landlord’s residuary estate interest in the Project; (3) Tenant to receive the unamortized cost of the improvements constructed by Tenant; (4) Tenant to receive moving costs, loss of business and any other injury or damage award available to all or Tenant (to the extent any part of the Property, foregoing are hereby assigned to specifically awarded by the applicable condemning authority); and (5) the balance of any award (if any) shall be paid to Landlord. Termination of this Lease shall not affect the Lenderright of the respective parties to such awards. The Lender If this Lease is authorized and empowered (but not required) terminated as a result of a taking, the entire award shall be paid to collect and receive any such sums and is authorized to apply them in whole or in part upon any indebtedness or obligation secured hereby, in such order and manner as the Lender shall determine at its option. The Lender Landlord except that Tenant shall be entitled to settle and adjust all claims under insurance policies provided under this Deed of Trust and may deduct and retain from the proceeds of such insurance the amount of all expenses incurred by it in connection with any such settlement or adjustment. All or any part portion of the amounts so collected award in said eminent domain proceedings which is attributable to Tenant’s personal property and/or the unamortized cost of leasehold improvements constructed by Tenant, or loss of business and recovered any other award available to Tenant (to the extent any of the foregoing are specifically awarded by the Lender may be released to Borrower upon such conditions as the Lender may impose for its disposition. Application of all or any part of the amounts collected and received by the Lender or the release thereof shall not cure or waive any default under this Deed of Trust. If the Property is abandoned by Xxxxxxxx, or if, after notice by Xxxxxx to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to Lender within thirty (30) days after the date such notice is mailed, Lender is authorized to collect and apply the proceeds, at Lender’s option, either to restoration or repair of the Property or to the sum secured by this Deed of Trustapplicable condemning authority).