Condemnation of Leased Premises. (a) If the entire premises, at any time during the term of this lease or any extension thereof, shall be taken by the exercise of a power of eminent domain or under threat thereof, this lease shall then terminate as of the date of title vesting in such proceeding, all rentals shall be paid up to that date and Lessee shall have no claim against Lessor nor the condemning authority for the value of the unexpired term of this lease.
(b) In the event of a partial taking of the building or more than 25% of the land area, which leaves the Premises unfit for the normal and proper conduct of the business of the Lessee, then, the Lessee shall have the right to cancel and terminate this lease effective upon the actual partial taking, all rentals shall be paid up to that date, and Lessee shall have no claim against Lessor nor the condemning authority for the value of any unexpired term of this lease. If this lease shall not be canceled as above provided, it shall continue in effect and the rental after such partial taking shall be that part of the rental herein agreed to be paid which the value of the untaken part of the Premises, immediately after the taking, bears to the value of the entire demised Premises immediately before the taking. If the Lessee's continued use of the Premises requires alterations and repairs by reason of a partial taking, the Lessor may elect to terminate this lease within thirty (3o) days, after the actual taking or subject to Lessee's right of termination above provided, which must be exercised in writing within thirty (3o) days after such partial taking, may elect to continue it, in which event the Lessor shall make all necessary alterations and repairs at its expense which are required because of such partial taking. Until such alterations and repairs shall have been completed, an equitable abatement of rent shall be made to Lessee for any portion of the Premises unfit for occupancy and use in the conduct of Lessee's business for the period during which the same is unfit for such occupancy and use.
(c) In the event of any condemnation or taking as whether whole or partial, Lessee shall not be entitled to any part of the award paid for said condemnation; Lessor is to receive the full amount of such award, Lessee hereby expressly waiving any right or claim to any part thereof. Although all such damages awarded in the event of any condemnation are to belong to the Lessor, whether such damages are awarded as compensation for diminution in val...
Condemnation of Leased Premises. If the whole of the Leased Premises are taken or condemned under power of eminent domain, then this Lease shall automatically terminate as of the effective date of such taking or condemnation. If a portion (but less than all) of the Leased Premises are taken or condemned under power of eminent domain, and if, in the reasonable opinion of Lessee, such taking or condemnation materially and adversely affects Lessee’s use and operation of the Lessee Assets, then Lessee shall have the right, within 60 days after the effective date of such taking or condemnation, to terminate this Lease by written notice to Lessor.
Condemnation of Leased Premises. If more than fifty percent (50%) of the demised building or the parking area shall be appropriated and taken for any public use by virtue of eminent domain or condemnation proceedings, Tenant, upon such taking, shall have the right to terminate this lease by written notice to Landlord given within fifteen (15) days of such taking, and rental shall be paid only to the time that such taking occurs or Tenant surrenders possession of the leased premises to Landlord, whichever be the later event; or, in the event of partial appropriation as aforesaid, Tenant may elect to continue in possession of that part of the leased premises not so appropriated with all terms and conditions of this Lease remaining applicable. By remaining in possession of the leased premises for as much as ninety (90) days after such taking, Tenant shall be deemed to have waived all such right to terminate even though such notice of termination may have been given to Landlord.
Condemnation of Leased Premises. If the Leased Premises shall be condemned or taken by eminent domain by any authority having the right of eminent domain, or purchased by such authority in lieu of condemnation of said premises, then the term of this Lease shall cease and terminate as of the date title vests in the condemnor, and all rents shall be paid up to such date and any unearned rent paid in advance by Lessee shall be refunded to it, provided, however, Lessee shall thereafter have no claim against Lessor for the value of any unexpired term of the Lease. Lessee shall have no interest in any award resulting from any condemnation, except for such items in the award which may have been installed and paid for by Lessee and for which items Lessee has not been reimbursed by Lessor and moving expenses and any other property or interest of Lessee taken by condemnor.
Condemnation of Leased Premises. If the federal or any state government or agency or instrumentality of any of them takes the whole of the Leased Premises for any public or quasi-public use under any statute or regulation relating to eminent domain, condemnation or by purchase in lieu thereof, or if some part of the Leased Premises is so taken and the part not taken does not suffice for Lessee to reasonably operate the business for which the premises have been leased, then this Lease shall come to an end as to the Leased Premises when Lessee loses possession of all or of such part of the Leased Premises. If such Lease is so terminated, Lessee shall have no claim against Lessor for any loss or damage and in particular, without limitation, no claim for the value of any unexpired term of the Leased Premises. Lessee shall make all payments and reimbursements to Lessor to the period ending with the date on which Lessee so loses possession of the Leased Premises, or of such part of them. If the taking referred to above affects only such a part of the Leased Premises so that Lessee reasonably can continue to operate the business within the scope of this Lease, such taking shall not affect this Lease. If this Lease so survives any such taking, Lessee shall repair, replace or restore such part of the Leased Premises not taken to as nearly its condition and/or business purpose before the taking as the circumstances reasonably permit.
Condemnation of Leased Premises. If more than twenty-five percent (25%) of the Leased Premises shall be taken or acquired by any public or quasi-public authority under the power or threat of eminent domain (a "Public Taking"), Landlord and Tenant shall each have the option to terminate this Lease as of the date possession shall be taken by such public or quasi-public authority by giving the other party written notice of termination within thirty (30) days after notice of a Public Taking. If either shall exercise such option, the Lease Term shall cease as of the day possession shall be taken by such public or quasi-public authority, and Tenant shall pay rental up to that date with an appropriate refund by Landlord of such rental as may have been paid in advance for any period subsequent to the date possession is taken. In the event that neither Landlord nor Tenant exercises the option to terminate pursuant to this Section, then this Lease shall continue in full force and effect, including without limitation, payment of all rental and other amounts payable hereunder without abatement, apportionment or pro-ration.
Condemnation of Leased Premises. In the event that any government, public body, or other condemning authority shall take, or if Landlord shall transfer in lieu of such taking, all or such part of the Leased Premises, Access Easement, or Utility Easement thereby making it physically or financially infeasible for the Leased Premises to be used in the manner intended by this Lease, Tenant shall have the right to terminate this Lease effective as of the date of the taking by the condemning party and the rental shall be prorated appropriately. However, if only a portion of the Leased Premises, Access Easement, or Utility Easement is taken, and Tenant does not elect to terminate this Lease under this provision, then rental payments provided under this Lease shall xxxxx proportionally as to the portion taken which is not then usable by Tenant. Landlord shall make all necessary repairs and alterations to restore the portion of the Leased Premises remaining to as near its former condition as circumstances will permit (at a cost not to exceed Landlord's proceeds from said condemnation or transfer), and this Lease shall continue.
Condemnation of Leased Premises. If the whole or any part of the Leased Premises or Building shall be taken by power of eminent domain or condemned by any competent authority for any public or quasi-public use or purpose, which reasonably renders the Leased Premises or Building unfit for the intended use of Lessee, Lessee shall have the right to terminate this Lease at any time after the date of title vesting in such proceedings. If a lesser portion of the Leased Premises is so acquired or condemned, Lessor shall promptly restore or repair the Leased Premises such that it is rendered reasonably fit for Xxxxxx’s intended uses and rent shall be abated for the portion of the Leased Premises so acquired or condemned. Rent shall be prorated as of the date of such termination; if applicable, or the date of such acquisition or condemnation.
Condemnation of Leased Premises. If all or any part of the whole of the Leased Premises shall be taken or acquired by any public or quasipublic authority under the power or threat of eminent domain, the Lease Term shall cease as to the part taken as of the day possession shall be taken by such public authority. If the part of the Leased Premises so taken leaves space no longer suitable for the conduct of Tenant's business, then the Lease Term shall cease and Tenant shall pay rent up to the day possession is taken. If more than twenty-five (25%) percent of the floor area of the building in which the Leased Premises are located, or more than twenty-five (25%) percent of that portion of the Common Area from time to time designated by Landlord as common parking areas, shall be taken under the power of eminent domain, Landlord may terminate this Lease and rent shall be paid or refunded as of the date of termination.
Condemnation of Leased Premises
