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.
Appears in 1 contract
Samples: Casa Ole Restaurants Inc
PARTIAL. If twenty-five percent (25%) or more the taking is of less than substantially all of the GLA Land and Building and if this Lease is for any reason not terminated pursuant to the following Paragraph 16.C, Landlord shall as soon as possible restore the Land and Building as nearly as can practicably be done (including the Premises) using all of the award received by Landlord and Tenant (but not in excess thereof) so as to provide to the extent reasonably possible, comparable space and amenities to those enjoyed by Tenant under this Lease prior to the taking; in such event this Lease shall continue in force at the square foot rental rates and adjustment herein provided for the Premises applied to the Rentable Area of the Premises existing in the Building as restored, but Base Rent, Additional Rent and other charges due hereunder shall be so taken, then Landlord and Tenant shall each have abatx xxx 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 portions of the Premises shall be so taken affected as to periods when the Premises is not available for use by Tenant in the ordinary course of its business as a result of such taking and this Lease shall not be terminated, then this Lease and work of restoration. In the event the taking is of less than substantially all of the terms Land and provisions thereof shall continue in full force Building and effect, except that the Fixed Minimum Rent shall be reduced in the same proportion that the GLA of does not affect the Premises taken bears or any other interest of Tenant under this Lease to which an economic value can be determined and computed by the original GLA demisedcourt having jurisdiction, and Landlord shall, upon receipt Tenant shall have no right to a single award or share of the award as provided in condemnationthe preceding grammatical paragraph, make provided that to the extent required, all necessary repairs or alterations (exclusive of Tenant's trade and lighting fixtures, furniture, furnishings, personal property, decorations, signs and contents) the award received by Landlord shall be used by Landlord to restore the portion Land and Building as provided above in this Paragraph. If the parties are unable to agree whether a taking is of substantially all of the Premises remaining to as near its former condition as circumstances will permit, Land and to the building of which the Premises forms a part to Building or the extent necessary of any required restoration, then the matter shall be determined by arbitration pursuant 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 contentsParagraph 33 hereof.
Appears in 1 contract
PARTIAL. If twenty-five percent the damage caused as above be only partial and such that the demised premises can be restored to their then condition within a reasonable time, as determined by Lessor, the Lessor may, at its option, restore the same with reasonable promptness, reserving the right to enter upon the demised premises for that purpose, or terminate this Lease. Lessor shall make such election to restore the demised premises or terminate this Lease by giving notice thereof to Lessee at the demised premises within thirty (25%30) days from the date Lessor receives notice that the demised premises have been damaged. In the event the demised premises cannot be or more of are not repaired, for whatever reason, within one hundred twenty (120) days following the GLA of the Premises damage, Lessee shall be so taken, then Landlord and Tenant shall each have the right to terminate this Lease Agreement and vacate the demised premises, such right to be exercised by written notice to Lessor given to the other within sixty ten (6010) days after following such one hundred twenty (120) day period. The Lessor also reserves the date of title vesting in such proceedings. If any part of right to enter upon 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 demised premises whenever necessary to the original GLA demised, and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs repair damage caused by fire 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 other casualty to the building of which the Premises forms demised premises is a part, even though the effect of such entry be to render the demised premises or a part thereof untenantable. In either event the rent shall be apportioned and suspended during the time the Lessor is in possession, taking into account the proportion of the demised premises rendered untenantable and the duration of the Lessor's possession. If a dispute arises as to the extent necessary amount of rent due under this section, Lessee agrees to constitute pay the portion of the building not so taken to a complete architectural unit; providedfull amount claimed by Lessor. Lessee, however, that Landlordshall have the right to proceed by law to recover the excess payment, 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 contentsif any.
Appears in 1 contract
PARTIAL. If twenty-five percent (25%) or more of the GLA any part of the Premises shall be taken by eminent domain and such partial taking shall render that portion not so takentaken unsuitable for the purposes for which the Premises were leased, then Landlord and Tenant shall each have the right to terminate this Lease by written notice given to the other within sixty thirty (6030) days after the date notice of title vesting in such proceedingstaking. If any part of the Premises shall be so taken and this Lease shall not be terminatedterminated as aforesaid, then this Lease and all of the terms and provisions thereof hereof shall continue in full force and effect, except that the Fixed Minimum Rent and Tenant’s Proportionate Share of Common Area Costs and Tenant’s Proportionate Share of real estate taxes shall be reduced in the same proportion that the GLA floor area of the Premises taken (including basement and mezzanine space, if any) bears to the original GLA floor area demised, and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs or alterations (exclusive of Tenant's ’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 the circumstances will permit, and to the building of which the Premises forms a part Shopping Center to the extent necessary to constitute the portion of the building Shopping Center 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; Shopping Center, and Tenant, at Tenant's ’s expense, shall make all necessary repairs and alterations to Tenant's ’s trade and lighting fixtures, decorationdecorations, signs and contents.
Appears in 1 contract
Samples: Carroll Bancorp, Inc.
PARTIAL. If twenty-five percent (25%) or more of the GLA gross leasable area of the Demised Premises shall be so taken, then either Landlord and or Tenant shall each have the right to terminate this Lease by written notice given to the other party within sixty (60) days after the date of title vesting in such proceedingsproceeding. If any part of the Demised Premises shall be so taken and this Lease shall not be terminated, as aforesaid, then this Lease and all of the terms and provisions thereof hereof shall continue in full force and effect, except that the Fixed Minimum Rent shall be reduced in the same proportion that the GLA gross leasable area of the Demised Premises taken bears to the original GLA demisedgross leasable area of the Demised Premises, and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs or and alterations (exclusive of Tenant's trade and lighting fixtures, furniture, furnishings, personal property, decorations, signs and contents) to restore the portion of the Demised Premises remaining to as near its former condition as the circumstances will permit, and to the building of which the Demised Premises forms form 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, Landlord in any event, shall not be required to spend for such repair repairs and alteration work alterations an amount in excess of the respective amounts received by Landlord as damages for the taking of such part of the Demised Premises and of the building of which it forms they form a part; , and Tenant, at Tenant's expense, shall make all necessary repairs and alterations to Tenant's trade and lighting fixtures, decorationfurniture, furnishings, personal property, decorations, signs and contents.
Appears in 1 contract
PARTIAL. If twenty-five percent (25%) or more any part of the GLA of the Premises leased premises shall be so takentaken and such partial taking shall render that portion not so taken unsuitable for the purposes for which the leased premises were leased, then Landlord LANDLORD and Tenant TENANT shall each have the right to terminate this Lease lease by written notice given to the other within sixty (60) days after the date of title vesting in such proceedingsproceeding. If any part of the Premises leased premises shall be so taken and this Lease lease shall not be terminated, as aforesaid, then this Lease lease and all of the terms and provisions thereof shall continue in full force and effect, except that the Fixed Minimum Rent maximum guaranteed annual rent shall be reduced in the same proportion that the GLA gross leasable area of the Premises leased premises taken bears to the original GLA demisedgross leasable area leased and, and Landlord LANDLORD shall, upon receipt of the award in condemnation, make all necessary repairs or and alterations (exclusive of Tenant's trade and lighting TENANT'S furnishings, fixtures, furniture, furnishings, personal property, decorations, signs equipment and contentssigns) to restore the portion of the Premises leased premises remaining to as near its former condition as the circumstances will permit, and to the building of which the Premises leased 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 TenantTENANT, at Tenant's TENANT'S expense, shall make all necessary repairs and alterations to Tenant's trade and lighting TENANT'S furnishings, fixtures, decoration, signs equipment and contents.signs. LANDLORD_______________ TENANT ________________
Appears in 1 contract
PARTIAL. If twenty-five percent (25%) percent or more of the GLA gross leasable area of the Premises shall be so taken, then Landlord and or 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 proceedingsproceeding. If any part of the Premises shall be so taken and this Lease shall not be terminated, as aforesaid, then this Lease and all of the terms and provisions thereof hereof shall continue in full force and effect, except that the Fixed Minimum Rent shall be reduced in the same proportion that the GLA rentable area of the Premises taken bears to the original GLA demisedrentable area of the Premises, and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs or and alterations (exclusive of Tenant's property, including trade and lighting fixtures, furniture, furnishings, personal property, decorations, signs and contents) to restore the portion of the Premises remaining to as near to its former condition conditions as the circumstances will permit, and to the building of which the Premises forms a part Building to the extent necessary to constitute the portion of the building 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 repairs and alteration work alterations an amount in excess of the respective amounts amount received by Landlord as damages for the taking of such part of the Premises and of the building of which it forms a part; Premises, and Tenant, at Tenant's expense, shall make all necessary repairs and alterations to Tenant's property, including trade and lighting fixtures, decorationfurniture, furnishings, personal property, signs and contents. As used herein, the amount received by Landlord shall mean that portion of the award in condemnation received by Landlord as damages from the condemning authority which is free and clear of all ground or underlying lessors, and less reasonable attorneys' and appraisers' fees and expenses. If more than fifty (50%) percent of the rentable area of either the Building or the Commercial Center shall be taken as aforesaid, Landlord shall have the right, by notice given to Tenant, to terminate this Lease, such termination to be effective as of the date of title vesting in such proceedings. If, as a result of any taking, the remaining parking areas equal or exceed seventy-five (75%) percent of the parking areas as the same existed prior to such taking, Tenant shall not be entitled to compensation, diminution or abatement of any rents or other charges or sums reserved hereunder, nor shall the same be deemed an actual or construction evidence. If as a result of such taking the remaining parking areas are reduced below seventy-five (75%) percent of the parking areas as the same existed prior to such taking, Landlord shall have the right, to supply substitute parking facilities on the property of Landlord or within reasonable proximity to the Commercial Center. If Landlord shall be unable to replace or substitute any such parking facilities so taken to comply with the provisions of the preceding sentence, then Landlord or Tenant shall have the right and option to cancel and terminate this Lease within ninety (90) days after the taking by giving the other party thirty (30) days' written notice; and in such event, this Lease shall cease and terminate upon the expiration of said thirty (30) days and neither party thereafter shall have any further rights and obligations as against the other. If, pursuant to the preceding sentence, neither party shall have so cancelled and terminated this Lease, then Tenant shall not be entitled to compensation, diminution or abatement of any rents, charges or other sums reserved hereunder, nor shall the failure to replace or substitute any such parking facilities so taken be deemed an actual or constructive eviction.
Appears in 1 contract
Samples: Lease (Village Bancorp Inc)
PARTIAL. If twenty-five percent (25%) or more In the event that any portion of the GLA Premises, the Allocated Parking, the Building, the Property, or COUNTY’s access thereto, is taken by Condemnation and COUNTY determines, in its commercially reasonable discretion, that COUNTY is unable to conduct its operations at the Premises as a result of such partial taking, COUNTY shall have right, at its option, to terminate the Lease by providing LANLDORD with notice to be given within thirty (30) days after COUNTY’s receipt of the Premises shall be so takenCondemnation Notice from LANDLORD, then Landlord and Tenant shall each have the right or if LANDLORD fails to terminate this Lease by written notice given to the other provide COUNTY with a Condemnation Notice, within sixty thirty (6030) days after the date of title vesting in such proceedingsthe condemning authority takes possession. If any part of COUNTY does not exercise its right to terminate the Premises shall be so taken and this Lease shall not be terminatedas provided herein, then this the Lease and all of the terms and provisions thereof shall continue in full force and effect, except that if a portion of the Fixed Minimum Premises was taken, the Premises shall be reduced by the portion taken and the Monthly Rent and any other sums due under the Lease shall be reduced in the same proportion that as the GLA floor area 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 floor area of the Premises and if the Allocated Parking, COUNTY’s access, or other portions of the building Property affecting COUNTY’s use of the Premises was partially taken, the Monthly Rent and other sums due shall be equitably adjusted. In addition, LANDLORD shall to the extent of proceeds of the condemnation award payable to Landlord are available and paid to Landlord, diligently restore the remainder of the improvements on the Premises so far as practicable to a complete unit of like quality and condition to that which it forms a part; and Tenant, at Tenant's expense, shall make all necessary repairs and alterations existed immediately prior to Tenant's trade and lighting fixtures, decoration, signs and contentsthe taking.
Appears in 1 contract
Samples: Lease Agreement
PARTIAL. If twenty-five percent (25%) or more In the event that any portion of the GLA Premises, the Allocated Parking, the Building, the Property, or COUNTY’s access thereto, is taken by Condemnation and COUNTY determines, in its sole discretion, that COUNTY is unable to conduct its operations at the Premises as a result of such partial taking, COUNTY shall have right, at its option, to terminate the Lease by providing LANLDORD with notice to be given within thirty (30) days after COUNTY’s receipt of the Premises shall be so takenCondemnation Notice from LANDLORD, then Landlord and Tenant shall each have the right or if LANDLORD fails to terminate this Lease by written notice given to the other provide COUNTY with a Condemnation Notice, within sixty thirty (6030) days after the date of title vesting in such proceedingsthe condemning authority takes possession. If any part of COUNTY does not exercise its right to terminate the Premises shall be so taken and this Lease shall not be terminatedas provided herein, then this the Lease and all of the terms and provisions thereof shall continue in full force and effect, except that if a portion of the Fixed Minimum Premises was taken, the Premises shall be reduced by the portion taken and the Monthly Rent and any other sums due under the Lease shall be reduced in the same proportion that as the GLA floor area 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 floor area of the Premises and if the Allocated Parking, COUNTY’s access, or other portions of the building Property affecting COUNTY’s use of which it forms a part; the Premises was partially taken, the Monthly Rent and Tenantother sums due shall be equitably adjusted. In addition, at Tenant's expense, LANDLORD shall within thirty (30) days make all necessary repairs and or alterations to Tenant's trade the Premises, Building, and lighting fixtures, decoration, signs Property required as a result of the Condemnation to restore the remaining portions thereof to substantially the same conditions as existing immediately prior to the Condemnation and contentsin accordance with the provisions of the Lease.
Appears in 1 contract
Samples: Lease Agreement
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 Demised Premises shall be taken as aforesaid, and such partial taking shall render that portion not so taken and this Lease shall not be terminatedunsuitable for the business of Tenant, then this Lease and all 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 the terms and provisions thereof Tenant, then this Lease shall continue in full force and effect, effect except that the Fixed Minimum Rent rent shall be reduced in the same proportion that the GLA floor area of the Demised Premises taken bears to the original GLA demised, floor area demised and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs repair 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 in which the Demised Premises forms a part to the extent necessary are located so as to constitute the portion of the building not so taken to a complete architectural unit; provided, however, that Landlord, 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, shall not event be required to spend for such repair and alteration work an amount in excess of the respective amounts amount received by Landlord as damages for the taking of such part of the Demised 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 mortgages for the value of the diminished fee; (c) if more than twenty (20%) percent of the floor area of the building of in which it forms a part; and the Demised Premises are located shall be taken as aforesaid, Landlord may. by written notice to Tenant, at Tenant's expenseterminate this Lease, such termination to be effective as aforesaid; (d) if this Lease Is terminated as provided In this paragraph, the rent shall be paid up to the day that possession is taken by public authority and Landlord shall make an equitable refund of any rent paid by Tenant in advance; (e) Award: Tenant shall not be entitled to and expressly waives all necessary repairs and alterations claim to Tenant's trade and lighting fixtures, decoration, signs and contents.any
Appears in 1 contract
Samples: Center Lease (Rose Group of Nevada)
