Common use of Condemnation Not Resulting in Termination Clause in Contracts

Condemnation Not Resulting in Termination. If a portion of the Building of which the Premises are a part should be taken or condemned for any public use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof, and the taking materially interferes with the Permitted Use of the Premises, and this Lease is not terminated as provided in Paragraph 23.1 above, the Rent payable hereunder during the unexpired portion of the Lease shall be reduced, beginning on the date when the physical taking shall have occurred, to such amount as may be fair and reasonable under all of the circumstances.

Appears in 2 contracts

Samples: Lease Agreement (Accelrys, Inc.), Lease Agreement (Symyx Technologies Inc)

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Condemnation Not Resulting in Termination. If a portion of the Building Property of which the Premises are a part should be taken or condemned for any public use under any governmental law, ordinance ordinance, or regulation, or by right of eminent domain, or by private purchase in lieu thereof, and the taking materially interferes with the Permitted Use of the Premises, and this Lease is not terminated as provided in Paragraph 23.1 Section 24.A., above, this Lease shall not terminate, but the Rent payable hereunder during the unexpired portion of the Lease shall be reduced, beginning on the date when the physical taking shall have occurred, to such amount as may be fair and reasonable under all of the circumstances.

Appears in 1 contract

Samples: Commercial Lease Agreement (BioTrove, Inc.)

Condemnation Not Resulting in Termination. If a portion of the Building of which the Premises are a part should to be taken or condemned for any public use under any governmental law, ordinance ordinance, or regulation, or by right of eminent domain, or by private purchase in lieu thereof, and the taking materially interferes with the Permitted Use of the Premises, and this Lease is not terminated as provided in Paragraph 23.1 23.A above, this Lease shall not terminate, but the Rent payable hereunder during the unexpired portion of the Lease shall be reduced, beginning on the date when the physical taking shall have occurred, to such amount as may be fair and reasonable under all of the circumstances.

Appears in 1 contract

Samples: Lease Agreement (Paypal Inc)

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Condemnation Not Resulting in Termination. If a portion of the ----------------------------------------- Building of which the Premises are a part should be taken or condemned for any public use under underlying governmental law, ordinance ordinance, or regulation, or of by right of eminent domain, or by private purchase in lieu thereof, and the taking materially interferes with the Permitted Use of the Premises, and this Lease is not terminated as provided in Paragraph 23.1 23.A. above, this Lease shall not terminate, but the Rent payable hereunder during the unexpired portion of the Lease shall be reduced, beginning on the date when the physical taking shall have occurred, to such amount as may be fair and reasonable under all of the circumstances.

Appears in 1 contract

Samples: Lease (Netcentives Inc)

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