Taking of Property Clause Samples

Taking of Property. If the premises, or any substantial part thereof, or the whole or any substantial part of the building owned by the Town of Hull on the leased premises shall be taken for any purpose by exercise of the power of eminent domain or condemnation after the execution thereof, then this lease and said term shall terminate at the option of the Lessor and such option may be exercised in case of any such taking, notwithstanding the entire interest of the Lessor may have been divested by such taking. The Lessee hereby assigns to the Lessor any and all claims and demands for damage on account of any such taking or for compensation for anything lawfully done and pursuant to any public authority and covenants with the Lessor that the Lessee will from time to time execute and deliver to the Lessor such further instruments of assignment of any such claim and demands as the Lessor shall request.

Taking of Property. Lessee to Give Notice; Assignment of Awards, etc. ........................................... 15 20.2 Partial Taking ............................................ 16

Taking of Property. In case of a taking of or damage to all or any part of the Trust Property as a result of, or a sale thereof in lieu of or in anticipation of, the exercise of the power of condemnation or eminent domain, or the commencement of any proceedings or negotiations which might result in such a taking, damage or sale, Trustor shall promptly give Beneficiary written notice thereof, generally describing the nature of such taking, damage, sale, proceedings or negotiations and the nature and extent of the taking, damage or sale which has resulted or might result therefrom, as the case may be, and Beneficiary shall have the right to participate in such proceedings or negotiations. Should any of the Trust Property be taken or damaged by exercise of the power of condemnation or eminent domain, or be sold by private sale in lieu or in anticipation thereof, Trustor does hereby irrevocably assign, set over and transfer to Beneficiary any award, payment or other consideration for the property so taken, damaged or sold. Such award, payment or consideration shall, at Beneficiary's option, be applied first to the payment of all costs and expenses incurred by Beneficiary in obtaining and preserving such award, payment or consideration, and second, at Beneficiary's option, either to the reduction of the indebtedness hereby secured by application thereof to said indebtedness, in any order which Beneficiary may determine, whether then due and payable or not, without reinvestment charge, or to the restoration or repair of the Trust Property, without affecting the lien of this Deed of Trust or the obligations of Trustor hereunder. If (a) an Event of Default then exists hereunder, or (b) Trustor does not promptly and in good faith compromise, settle and collect all awards, payments or consideration for the property so taken, damaged or sold, Beneficiary is authorized, at its option, in the name of Trustor or in its own name, to compromise, settle, collect and receipt for all awards, payments or consideration for the property so taken, damaged or sold. The amount of any such compromise or settlement shall always be subject to Beneficiary's approval. Trustor agrees to pay all costs and expenses incurred by Beneficiary in connection therewith, including court costs and attorneys' fees (prior to trial, at trial and on appeal), on demand, which costs and expenses shall also be secured hereby and shall bear interest from the date paid at the Default Rate, but Beneficiary shall not be liable ...

Taking of Property. The Mortgagor to Give Notice; Assignment of Awards, etc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 15.2. Partial Taking. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 15.3. Application of Awards, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33 16.

Taking of Property. 66 16.1 Notice ..................................................... 66 16.2

Taking of Property. Since the date of the Financial Statements, neither the business nor the Property of HEC and its Subsidiaries has been affected as a result of any fire, explosion, earthquake, flood, drought, windstorm, accident, strike or other labor disturbance, embargo, requisition or taking of Property of HEC and its Subsidiaries or cancellation of contracts, permits or concessions by any domestic or foreign government or any agency thereof, riot, activities of armed forces or acts of God or of any public enemy, the occurrence of which would have a Material Adverse Effect.

Taking of Property. 15-17 20.1. Tenant to Give Notice; Assignment of Awards, etc.......................15 20.2. Partial Taking......................................................15-16 20.3. Total Taking...........................................................16 20.4. Application of Awards, etc..........................................16-17 21. Certificate as to No Event of Default, etc.; Financial Statements..........17-18 21.1. Certification of Tenant as to No Event of Default, etc.................17 21.2. Certificate of Landlord.............................................17-18 21.3. Financial Statements...................................................18

Taking of Property