Appearance
Eminent Domain Expropriation Compulsory Acquisition
Definition
Parties agreement on rights and responsibilities if the property is taken by a government authority.
Example
If title to or the temporary use of the Leased Premises, or any part thereof, shall be taken under the exercise or the power of eminent domain by any governmental body or by any person, firm or corporation acting under governmental authority, any net proceeds received from any award made in such eminent domain proceedings (after payment of expenses incurred in such collection) shall be paid to and held by the Trustee under the Indenture.