Example ContractsClausesCondemnation Proceeds
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Total Condemnation. If all of the Premises are condemned by eminent domain, inversely condemned, or sold in lieu of condemnation for any public or quasi-public use or purpose, this Lease will terminate as of the date of title vesting in that proceeding and all Rent payments will be abated from the date of termination.

Condemnation Award. If the Premises is wholly or partially condemned, the Landlord will be entitled to the entire award paid for the condemnation, and the Tenant waives any claim to any part of the award from the Landlord or the condemning authority.

Condemnation; Seizure. Any court, government or governmental agency shall condemn, seize or otherwise appropriate, or take custody or control of, all or any substantial portion of the Property of or any Subsidiary (but excluding any Immaterial Subsidiary) taken as a whole.

If any property or asset of any Contributed Entity is taken by condemnation after the Execution Date and prior to the Initial Closing (a “Initial Closing Condemnation Loss”), Crestwood shall prepare and deliver to CEGPS no later than 15 days following such event, a good faith and reasonable estimate of the sum of, without double-counting, # the value of such taken property or asset plus # the amount of any lost profits reasonably expected after the Initial Closing as a result of such Initial Closing Condemnation Loss, in each case of the [foregoing [clauses (i) and (ii)])]])], net of and after giving effect to the amount of any condemnation awards to be received by the Contributed Entities as a result of the Initial Closing Condemnation Loss (such calculation, an “Initial Closing Condemnation Value Calculation”). If CEGPS reasonably objects to the Initial Closing Condemnation Value Calculation prepared by Crestwood and delivers a Notice of such objection to Crestwood within 10 days of receipt of the Initial Closing Condemnation Value Calculation prepared by Crestwood, then Crestwood shall cause an independent firm selected by Crestwood and reasonably acceptable to CEGPS to prepare, within a 20-day period, an alternative Initial Closing Condemnation Value Calculation which shall be final, conclusive and binding on the Parties (the “Initial Closing Condemnation Value”). If CEGPS fails to object to the Initial Closing Condemnation Value Calculation prepared by Crestwood within 10 days of having received such calculation, then the Initial Closing Condemnation Value Calculation prepared by Crestwood shall be deemed to be the Initial Closing Condemnation Value. If the Initial Closing or the Initial End Date is expected to occur prior to the finalization of the Initial Closing Condemnation Value, then the Initial Closing Date shall be extended, if necessary, to no earlier than the 15th Business Day after such Initial Closing Condemnation Value is finalized and the Initial End Date shall be extended to no earlier than the 17th Business Day after such Initial Closing Condemnation Value is finalized.

“Insurance, Condemnation and Extraordinary Proceeds Account” means the “Insurance, Condemnation and Extraordinary Proceeds Account” described in [Exhibit A], or any replacement account thereof established pursuant to the terms hereof.

Dispositions of property # resulting from the condemnation thereof or # that has suffered a casualty (constituting a total loss or constructive total loss of such property), in each case upon or after receipt of the condemnation proceeds or insurance proceeds of such condemnation or casualty, as applicable;

Insurance Proceeds or Condemnation Proceeds of ​ or Less. The Borrower may apply any Insurance Proceeds (other than amounts received from the Credit Protection Insurer pursuant to the Credit Protection Insurance Policy) and Condemnation Proceeds deposited into the Insurance, Condemnation and Extraordinary Proceeds Account in amounts less than or equal to ​ arising from any one claim or any series of claims relating to the same occurrence directly for the replacement or repair of damaged assets to which such Insurance Proceeds and Condemnation Proceeds relate. To effect such transfers, the Borrower may from time to time (but not more frequently than once per week) deliver to the Accounts Bank (with a copy to the Lender), at least five (5) Business Days in advance of any such proposed transfers or withdrawals from the Insurance, Condemnation and Extraordinary Proceeds Account, an Insurance, Condemnation and Extraordinary Proceeds Request Certificate, which shall include a certification that such written notification is being delivered, and the withdrawals specified therein are being directed, in accordance with this Agreement and the other Financing Documents, and that the directed withdrawals or transfers will be used exclusively for repair or replacement of damaged assets to which such Insurance Proceeds and Condemnation Proceeds relate.

SECTION # Casualty and Condemnation. The Borrowers will # furnish to the Administrative Agent and the Lenders prompt written notice of any casualty or other insured damage to any material portion of the Collateral or the commencement of any action or proceeding for the taking of any material portion of the Collateral or interest therein under power of eminent domain or by condemnation or similar proceeding and # ensure that the Net Proceeds of any such event (whether in the form of insurance proceeds, condemnation awards or otherwise) are collected and applied in accordance with the applicable provisions of this Agreement and the Collateral Documents.

Withdrawals of Asset Disposal Proceeds. If at any time any Extraordinary Proceeds resulting from an asset disposal permitted under [Section 7.02(f)] (Negative Covenants – Asset Dispositions) of the Credit Agreement are deposited into the Insurance, Condemnation and Extraordinary Proceeds Account, then on any Quarterly Payment Date:

with respect to a Capital Event constituting a casualty or condemnation with respect to any Funded Property, Net Proceeds shall equal the gross proceeds thereof less proceeds used for repair and restoration of such Funded Property, other costs incurred in connection with such casualty or condemnation and payable to a Person which is not an Affiliate of the applicable Credit Party and amounts necessary to repay the related Property Level Debt or other Indebtedness in accordance with the terms of the Property Loan Documents or other documents governing such Indebtedness for such Funded Property;

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