Common use of Event of Eminent Domain Clause in Contracts

Event of Eminent Domain. If an Event of Eminent Domain shall occur with respect to any part of the Collateral, the Borrower shall (a) promptly upon discovery or receipt of notice of any such occurrence provide written notice thereof to the Administrative Agent and the Loan Insurer, (b) diligently pursue all of its rights to compensation against the relevant Governmental Authority in respect of such Event of Eminent Domain, (c) if such Event of Eminent Domain shall affect any material part of the Collateral, without the written consent of the Controlling Party, which consent shall not be unreasonably withheld or delayed, not compromise or settle any claim against such Governmental Authority, and (d) pay or apply all Eminent Domain Proceeds (not applied to the restoration of the Project in accordance with the Participation Agreement) in accordance with the Depositary Agreement. The Borrower consents to the participation of the Controlling Party (but the Controlling Party shall not be required to so participate) in any eminent domain proceedings, and the Borrower shall from time to time, if the Controlling Party is not so participating, deliver to the Controlling Party each document filed or served by or upon the Borrower in such proceeding.