Common use of Condemnation for a Limited Period Clause in Contracts

Condemnation for a Limited Period. Notwithstanding the provisions of ---------------------------------- Sections 16.01, 16.02 and 16.03 above, if all or any portion of the Premises shall be condemned or taken for governmental occupancy for a limited period, this Lease shall not terminate, there shall be no abatement of Basic Rent or additional rent payable hereunder, and Tenant shall be entitled to receive the entire award therefor (whether paid as damages, rent or otherwise) unless the period of governmental occupancy extends beyond the expiration of this Lease, in which case Landlord shall be entitled to such part of such award as shall be properly allocable to the cost of restoration of the Premises, and the balance of such award shall be apportioned between Landlord and Tenant as of the date of such expiration. If the termination of such governmental occupancy is prior to expiration of this Lease, Tenant shall, to the extent an award has been made for the purpose of restoring the Premises, after application for the diligent pursuit of such award by Tenant, restore the Premises as nearly as possible to the condition of the Premises prior to the condemnation or taking.

Appears in 1 contract

Samples: Office Lease (Anchor Pacific Underwriters Inc)

AutoNDA by SimpleDocs

Condemnation for a Limited Period. Notwithstanding the provisions of ---------------------------------- Sections 16.0115.1, 16.02 15.2 and 16.03 15.3 above, if all or any portion of the Premises shall be condemned or taken for governmental occupancy for a limited period, this Lease Lease, shall not terminate, there shall be no abatement of Basic Rent or additional rent payable hereunder, and Tenant shall be entitled to receive the entire award therefor (whether paid as damages, rent or otherwise) unless the period of governmental occupancy extends beyond the expiration of this Lease, in which case Landlord shall be entitled to such part of such award as shall be properly allocable to the cost of restoration of the Premises, and the balance of such award shall be apportioned between Landlord and Tenant as of the date of such expiration. If the termination of such governmental occupancy is prior to expiration of this Lease, Tenant shall, to the extent an award has been made for the purpose of restoring the Premises, after application for the diligent pursuit of such award by Tenant, restore the Premises as nearly as possible to the condition of the Premises prior to the condemnation or taking.

Appears in 1 contract

Samples: Assignment and Extension of Lease (Caldera Systems Inc)

Condemnation for a Limited Period. Notwithstanding the provisions of ---------------------------------- Sections 16.01, 16.02 Section 13.1 and 16.03 above13.2, if all or any portion of the Premises shall be condemned or taken for governmental occupancy for a limited period, this Lease shall not terminate, there shall be no abatement of Basic Rent fixed or additional rent payable hereunder, hereunder and Tenant shall be entitled to receive the entire award therefor (whether paid as damages, rent or otherwise) unless the period of governmental occupancy extends beyond the expiration of this Lease, in which case Landlord shall be entitled to such part of such award as shall be properly allocable to the cost of restoration of the Premises, and the balance of such award shall be apportioned between Landlord and Tenant as of the date of such expiration. If the termination of such governmental occupancy is prior to expiration of this Lease, Tenant shall, to the extent an award has been made for the purpose of restoring the Premises, after application for the and diligent pursuit of such award by Tenant, restore the Premises as nearly as possible to the condition of the Premises in which they were prior to the condemnation or taking.

Appears in 1 contract

Samples: Office Lease (Sycamore Park Convalescent Hospital)

Condemnation for a Limited Period. Notwithstanding the provisions of ---------------------------------- --------------------------------- Sections 16.01, 16.02 and 16.03 above, if all or any portion of the Premises shall be condemned or taken for governmental occupancy for a limited period, this Lease shall not terminate, there shall be no abatement of Basic Rent or additional rent payable hereunder, and Tenant shall be entitled to receive the entire award therefor (whether paid as damages, rent or otherwise) unless the period of governmental occupancy extends beyond the expiration of this Lease, in which case Landlord shall be entitled to such part of such award as shall be properly allocable to the cost of restoration of the Premises, and the balance of such award shall be apportioned between Landlord and Tenant as of the date of such expiration. If the termination of such governmental occupancy is prior to expiration of this Lease, Tenant shall, to the extent an award has been made for the purpose of restoring the Premises, after application for the diligent pursuit of such award by Tenant, restore the Premises as nearly as possible to the condition of the Premises prior to the condemnation or taking.

Appears in 1 contract

Samples: Office Lease (Anchor Pacific Underwriters Inc)

AutoNDA by SimpleDocs

Condemnation for a Limited Period. Notwithstanding the provisions of ---------------------------------- Sections 16.01, 16.02 and 16.03 above, if If all or any portion of the Premises shall be condemned or taken for governmental occupancy for a limited period, this Lease shall not terminate, there shall be no abatement of Basic Rent rent or additional rent payable hereunder, here under and Tenant shall be entitled to receive the entire award therefor (whether paid as damages, rent or otherwise) unless the period of governmental occupancy by the condemning body extends beyond the expiration of this Lease, in which case . In such event Landlord shall be entitled to such part of such the award as shall be properly allocable to the cost of restoration of the PremisesPremises to the condition in which they were prior to the taking, and the balance of such award shall be apportioned between Landlord and Tenant as of the date of such expiration. If the termination of such governmental occupancy by the condemning body is prior to the expiration of this Lease, Tenant shall, to the extent after application for and diligent pursuit of an award has been made for the purpose of restoring the Premises, after application for to the diligent pursuit of extent such award by Tenanthas been made, restore the Premises as nearly as possible to the condition of the Premises in which they were prior to the condemnation or taking.

Appears in 1 contract

Samples: Business Property Lease Agreement (Scripps Financial Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.