Common use of Temporary Takings Clause in Contracts

Temporary Takings. If the temporary use of the whole or any part of the Premises shall be 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 between Tenant and those authorized to exercise such right, Tenant shall give prompt notice thereof to Landlord and the Term shall not be reduced or affected in any way and Tenant shall continue to pay in full the Rental payable by Tenant hereunder without reduction or abatement, and Tenant shall be entitled to receive for itself any award or payments for such use; provided, however, that: (a) if the taking is for a period not extending beyond the Term and if such award or payment is made less frequently than in monthly installments, the same shall be paid to and held by Depository as a fund which Depository shall apply from time to time to the payment of Rental, except that, if such taking results in changes or alterations in the Building which would necessitate an expenditure to Restore the Building to its former condition, then, a portion of such award or payment considered by Landlord, in its reasonable opinion, as appropriate to cover the expenses of the Restoration shall be retained by Depository, without application as aforesaid, and applied and paid over toward the Restoration of the Building to its former condition, substantially in the same manner and subject to the same conditions as provided in Section 9.03; and any portion of such award or payment, which shall not be required pursuant to this Section 9.05 to be applied to the Restoration of the Building or to the payment of Rental until the end of the Term (or, if the taking is for a period terminating prior to the end of the Term, until the end of such period), shall be paid to Tenant; or (b) if the taking is for a period extending beyond the Term, such award or payment shall be equitably apportioned between Landlord and Tenant as of the Expiration Date, and Landlord’s and Tenant’s share thereof, if paid less frequently than in monthly installments, shall be paid to Depository and applied in accordance with the provisions of this Section 9.05, provided, however, that the amount of any award or payment allowed or retained for the Restoration of the Building and not previously applied for such purpose shall remain the property of Landlord if this Lease shall expire prior to such Restoration.

Temporary Takings. If the temporary use of the whole or any part of the Premises shall be taken by Condemnation Proceedings as hereinabove referred to 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 between Tenant and those authorized to exercise such right, Tenant shall give prompt notice thereof to Landlord and a period which does not extend beyond the Term of this Agreement, this Agreement shall not be reduced or affected in any way terminate by reason thereof and Tenant Concessionaire shall continue to pay in full the Rental payable by Tenant hereunder without reduction or abatementConcession Fee, the Ground Rent, the Facility Rent, Impositions, and Tenant other charges herein provided to be paid or assumed or reimbursed by Concessionaire, and, except only to the extent that Concessionaire is prevented from so doing by reason of any order of the condemning authority, Concessionaire shall continue to perform and observe all of the covenants, conditions, and obligations hereof which are herein provided to be observed or performed by Concessionaire, all to the same extent and with the same force and effect as if such temporary use or taking had not occurred. Any award for such temporary taking, whether paid or by way of damages, rent, or otherwise shall be entitled received, held and disbursed in the manner following: 1. An amount equal to receive the sum of (x) the Ground Rent for itself any award the entire period of such temporary use or payments taking, plus (y) the estimated amount of the Facility Rent and Impositions for such useperiod (computed on the basis of the most recently ascertainable information) shall be deposited with an escrow trustee acceptable to the State and shall be from time to time applied to the payment of Ground Rent, Facility Rent, and Impositions as the same from time to time become due and payable; 2. The amount jointly agreed upon by the State and Concessionaire as the estimated amount required to be expended upon the termination of such temporary use or occupancy to restore the Premises and Concessionaire Improvements as nearly as may be reasonably possible to the condition in which same was immediately prior to such taking, shall 3. The remainder shall be paid over to and become the property of Concessionaire; provided, however, that: (a) if the taking is for a period not extending beyond amount of any fee or rent or other charges then owing by Concessionaire to the Term State under the provisions of this Agreement, together with all unpaid Impositions, and if such award or payment is made less frequently than in monthly installments, the same amount so deducted shall be paid to and held by Depository as a fund which Depository shall apply from time to time to or upon the payment of Rental, except that, if such taking results in changes or alterations in the Building which would necessitate an expenditure to Restore the Building to its former condition, then, a portion of such award or payment considered by Landlord, in its reasonable opinion, as appropriate to cover the expenses order of the Restoration shall be retained by Depository, without application as aforesaid, and applied and paid over toward the Restoration of the Building to its former condition, substantially in the same manner and subject to the same conditions as provided in Section 9.03; and any portion of such award or payment, which shall not be required pursuant to this Section 9.05 to be applied to the Restoration of the Building or to the payment of Rental until the end of the Term (or, if the taking is for a period terminating prior to the end of the Term, until the end of such period), shall be paid to Tenant; or (b) if the taking is for a period extending beyond the Term, such award or payment shall be equitably apportioned between Landlord and Tenant as of the Expiration Date, and Landlord’s and Tenant’s share thereof, if paid less frequently than in monthly installments, shall be paid to Depository and applied in accordance with the provisions of this Section 9.05, provided, however, that the amount of any award or payment allowed or retained for the Restoration of the Building and not previously applied for such purpose shall remain the property of Landlord if this Lease shall expire prior to such RestorationState.

Temporary Takings. If the temporary use of the whole or any part of the Premises shall be taken by Condemnation Proceedings as hereinabove referred to 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 between Tenant and those authorized to exercise such right, Tenant shall give prompt notice thereof to Landlord and a period which does not extend beyond the Term of this Agreement, this Agreement shall not be reduced or affected in any way terminate by reason thereof and Tenant RAC shall continue to pay in full the Rental payable by Tenant hereunder without reduction or abatementConcession Fee, the Ground Rent, the Contingent Rent, Impositions, and Tenant other charges herein provided to be paid or assumed or reimbursed by RAC, and, except only to the extent that RAC is prevented from so doing by reason of any order of the condemning authority, RAC shall continue to perform and observe all of the covenants, conditions, and obligations hereof which are herein provided to be observed or performed by RAC, all to the same extent and with the same force and effect as if such temporary use or taking had not occurred. Any award for such temporary taking, whether paid or by way of damages, rent, or otherwise shall be entitled received, held and disbursed in the manner following: 1. An amount equal to receive the sum of (x) the Ground Rent for itself any award the entire period of such temporary use or payments taking, plus (y) the estimated amount of the Contingent Rent and Impositions for such useperiod (computed on the basis of the most recently ascertainable information) shall be deposited with an escrow trustee acceptable to the State and shall be from time to time applied to the payment of Ground Rent, Contingent Rent, and Impositions as the same from time to time become due and payable; 2. The amount jointly agreed upon by the State and RAC as the estimated amount required to be expended upon the termination of such temporary use or occupancy to restore the Premises and RAC Improvements as nearly as may be reasonably possible to the condition in which same was immediately prior to such taking, shall be reserved and shall be used and available for use for such purposes (and if no agreement is reached, then the State may deduct and retain an amount reasonably estimated by the State); provided, and 3. The remainder shall be paid over to and become the property of RAC; however, that: (a) if the taking is for a period not extending beyond amount of any fee or rent or other charges then owing by RAC to the Term State under the provisions of this Agreement, together with all unpaid Impositions, and if such award or payment is made less frequently than in monthly installments, the same amount so deducted shall be paid to and held by Depository as a fund which Depository shall apply from time to time to or upon the payment of Rental, except that, if such taking results in changes or alterations in the Building which would necessitate an expenditure to Restore the Building to its former condition, then, a portion of such award or payment considered by Landlord, in its reasonable opinion, as appropriate to cover the expenses order of the Restoration shall be retained by Depository, without application as aforesaid, and applied and paid over toward the Restoration of the Building to its former condition, substantially in the same manner and subject to the same conditions as provided in Section 9.03; and any portion of such award or payment, which shall not be required pursuant to this Section 9.05 to be applied to the Restoration of the Building or to the payment of Rental until the end of the Term (or, if the taking is for a period terminating prior to the end of the Term, until the end of such period), shall be paid to Tenant; or (b) if the taking is for a period extending beyond the Term, such award or payment shall be equitably apportioned between Landlord and Tenant as of the Expiration Date, and Landlord’s and Tenant’s share thereof, if paid less frequently than in monthly installments, shall be paid to Depository and applied in accordance with the provisions of this Section 9.05, provided, however, that the amount of any award or payment allowed or retained for the Restoration of the Building and not previously applied for such purpose shall remain the property of Landlord if this Lease shall expire prior to such RestorationState.