Common use of Partial Appropriation Clause in Contracts

Partial Appropriation. In the event of any Appropriation of the nature covered by Section 17.4(c) above, all Awards therefor shall be applied first to the restoration, repair and replacement by Lessee of the Premises, Improvements and Personal Property that were not Appropriated, with any severance award being applied in its entirety before any other portion of the Award is so applied, and the unexpended portion of the Award, if any, shall be divided between Lessor and Lessee in the manner provided by Section 17.5(a) above.

Appears in 2 contracts

Sources: Ground Lease (Morgans Hotel Group Co.), Ground Lease (Morgans Hotel Group Co.)