PARTIAL. If twenty-five percent (25%) or more of the GLA of the Premises shall be so taken, then Landlord and Tenant shall each have the right to terminate this Lease by written notice given to the other within sixty (60) days after the date of title vesting in such proceedings. If any part of the Premises shall be so taken and this Lease shall not be terminated, then this Lease and all of the terms and provisions thereof shall continue in full force and effect, except that the Fixed Minimum Rent shall be reduced in the same proportion that the GLA of the Premises taken bears to the original GLA demised, and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs or alterations (exclusive of Tenant's trade and lighting fixtures, furniture, furnishings, personal property, decorations, signs and contents) to restore the portion of the Premises remaining to as near its former condition as circumstances will permit, and to the building of which the Premises forms a part to the extent necessary to constitute the portion of the building not so taken to a complete architectural unit; provided, however, that Landlord, in any event, shall not be required to spend for such repair and alteration work an amount in excess of the respective amounts received by Landlord as damages for the taking of such part of the Premises and of the building of which it forms a part; and Tenant, at Tenant's expense, shall make all necessary repairs and alterations to Tenant's trade and lighting fixtures, decoration, signs and contents.
PARTIAL. INVALIDITY If any term, covenant, condition, or provision of this Agreement is found by a court of competent jurisdiction to be invalid, void, or unenforceable, the remainder of the provisions hereof will remain in full force and effect and will in no way be affected, impaired, or invalidated thereby.
PARTIAL. If any part of the Premises shall be taken as aforesaid, and such partial taking shall render that portion not so taken unsuitable for the business of Tenant, as determined by Landlord, then this Lease and the term herein shall cease and terminate as aforesaid. If such partial taking is not extensive enough to render the Premises unsuitable for the business of Tenant, then this Lease shall continue in effect, except that the Fixed Minimum Rent shall be reduced in the same proportion that the floor area of the Premises taken bears to the original floor area leased and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs or alterations to the building in which the Premises are located so as to constitute the portion of the building not taken a complete architectural unit, but such work shall not exceed the scope of the work to be done by Landlord in originally constructing said building, nor shall Landlord, in any event, be required to spend for such work an amount in excess of the amount received by Landlord as damages for the part of the Premises so taken. "Amount received by Landlord" shall mean that part of the award in condemnation which is free and clear to Landlord of any collection by mortgagee for the value of the diminished fee.
PARTIAL. PAYMENTS If and whenever a payment is made by an Obligor hereunder and the Facility Agent receives an amount less than the due amount of such payment the Facility Agent may apply the amount received towards the obligations of the Obligors under this Agreement in the following order:
PARTIAL. In the event the referred damages do not prevent the LESSEE, in a substantial way, from continuing the normal operation of its business on the LEASED PREMISES, the LESSOR or the LESSEE, as the case may be, shall repair said damages under the terms of clause EIGHT above.
PARTIAL. INVALIDITY - If any term, provision, covenant or condition of this Lease, or any application thereof, is held by a court of competent jurisdiction to be invalid, void, or unenforceable, all provisions, covenants and conditions of this Lease, and all applications thereof, not held invalid, void or unenforceable, shall continue in full force and effect.
PARTIAL. In the event the said damage caused to the Leased Property does not prevent COMPANY from continuing the normal operation of its business on the Leased Property, PIMSA and COMPANY shall repair said damage, each party reconstructing that portion of the building and interior installations for which it was responsible during the original construction; provided that excluding damage or destruction to the parking lot during the period required for such repair work of PIMSA's Improvements or the improvements, rental payable hereunder by COMPANY shall be equitably prorated to the proportioned interference with COMPANY's use and possession of the Leased Property occasioned by such damage and repair, and in such event, PIMSA shall accept in lieu of the equitably prorated rent payable hereunder, during the period when COMPANY is partially deprived of the use and possession of the Leased Property, any rental insurance proceeds attributable to rent which may be payable pursuant to said insurance provided for hereinabove.
PARTIAL. Releases The Borrower may obtain the release of any Mortgaged Property (the “Release Tract”) from the liens and security interests of the Loan Documents if it satisfies the following terms and conditions:
PARTIAL. In the event that only a part of the Building area constituting fifty (50%) percent or less shall be so taken, the Landlord or Tenant may elect to cancel this Lease provided Landlord, within ninety (90) days after such taking, gives notice to that effect and upon the giving of such notice, the Basic Rent and Additional Rent shall be apportioned and paid to the date of the expiration of the Term and this Lease and the Term shall cease, expire and come to an end upon the expiration of said ninety (90) days specified in said notice. If the Landlord shall not elect to terminate as heretofore provided, this Lease shall remain unaffected except the Tenant shall be entitled to a pro rata reduction of Basic Rent, based on the proportion which the area of the Building so taken bears to the area of the Building immediately prior to such taking.
PARTIAL. INVALIDITY If at any time any provision of this Agreement is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, neither the legality, validity or enforceability of the remaining provisions of this Agreement nor the legality, validity or enforceability of such provision under the law of any other jurisdiction shall in any way be affected or impaired thereby.
