Common use of Condemnation of Premises Clause in Contracts

Condemnation of Premises. If the whole of the Premises or reasonable access or the supply of essential utilities or other service systems thereto shall be taken or acquired by any public or quasi-public authority under the power or threat of eminent domain, the Term shall cease as of the day possession of the Premises shall be taken by such public authority, and Tenant shall pay rent up to that date with an appropriate refund by Landlord of such rent as may have been paid in advance for any period subsequent to the date possession is taken. If less than all of the Premises shall be so taken, the Term shall cease only on the parts so taken as of the day possession shall be taken by such authority, and Tenant shall pay rent up to that day with appropriate refund by Landlord of such rent as may have been paid in advance for any period subsequent to the date that possession is taken, and thereafter the Base Rent and Tenant's Proportionate Share shall be equitably adjusted. Landlord shall, at its expense, make all necessary repairs and alterations to the basic building and exterior work so as to constitute the remaining Premises a complete architectural unit, provided that Landlord shall not be obligated to undertake any such repairs and alterations to the extent the cost thereof exceeds the award received by Landlord. Tenant, at Tenant's expense, shall, upon receipt, and to the extent, of Tenant's award, make repairs and restorations to the remaining Premises of the nature required as Tenant's Work and shall also repair or replace its stock in trade, fixtures, furniture, furnishings, floor coverings, plate glass and equipment, and, if Tenant has closed, shall promptly reopen for business. If the part of the Premises so taken leaves space no longer suitable for the conduct of Tenant's business as contemplated hereunder (whether as a result of a direct taking of the Premises or deprivation of reasonable access to the Premises), then at Tenant's option, to be exercised within thirty (30) days of taking, the Term shall cease and Tenant shall pay rent up to the day possession is taken with an appropriate refund by Landlord of such rent as may have been paid in advance for any period subsequent to the date of the taking of possession. If, in the determination of Landlord's lender, as specified in Landlord's mortgage, any significant portion of the Retail Area or the floor area of the building in which the Premises are located shall be taken by the exercise, or under the threat of the exercise of, the power of eminent domain and such taking has a permanent, material and adverse effect upon the operation of Tenant's business at the Premises as reasonably determined by Landlord's lender, Landlord may, by notice in writing to Tenant delivered on or before the day of surrendering possession to the public authority, terminate this Lease, and rent shall be paid or refunded, as appropriate, as of the date of termination. The Landlord shall only be entitled to exercise the termination rights described in the preceding sentence if it is determined by Landlord's lender that reasonable access or the supply of essential utilities or other service systems to the Premises cannot be restored.

Appears in 2 contracts

Samples: Retail Lease (New York Restaurant Group Inc), Retail Lease (Smith & Wollensky Restaurant Group Inc)

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Condemnation of Premises. If as the whole result of the Premises or reasonable access or the supply of essential utilities or other service systems thereto shall be taken or acquired a taking by any public or quasi-public authority under the power or threat of eminent domaindomain or sold to a public authority under threat or in lieu of such taking (a) all of the Premises, or so much thereof as renders the Premises wholly unusable by Tenant, is taken, (b) Tenant no longer has reasonable access to or use of the Premises, (c) all or substantially all of the building where the Premises is located is taken, (d) a portion of the building is taken resulting in Xxxxxxxx’s determination to demolish such building, or (e) the number of parking spaces in or serving the Development are reduced by such taking below the number of spaces required by applicable laws and such reduction adversely impacts the use of the Premises, the Term shall cease as expire on the date of the day possession vesting of title as fully and completely as if such date were the stated Expiration Date. In the event of any such taking of all or any part of the Premises or the Development, Landlord shall be taken by such public authorityentitled to receive the entire award. Tenant shall have no claim against Landlord or any authority for the value of the unexpired portion of the Term or Tenant’s Work, and Tenant shall pay rent up hereby assigns to that date with an appropriate refund by Landlord all of its right in and to any such rent as may have been paid in advance for any period subsequent award. Tenant may, however, at Xxxxxx’s expense, make a separate claim to the date possession is takenappropriate authority for the value of its Personal Property, the value of its business or goodwill, and its moving expenses, provided such claim and award, if any, do not result in a reduction of the award which would otherwise be paid to Landlord. If less than all a taking does not result in the termination of the Premises shall be so taken, the Term shall cease only on the parts so taken as of the day possession shall be taken by such authority, and Tenant shall pay rent up to that day with appropriate refund by Landlord of such rent as may have been paid in advance for any period subsequent to the date that possession is taken, and thereafter the Base Rent and Tenant's Proportionate Share shall be equitably adjusted. this Lease (i) Landlord shall, at its expense, make all necessary repairs and alterations to the basic building and exterior work so as to constitute the remaining Premises a complete architectural unit, provided that Landlord shall not be obligated to undertake any such repairs and alterations Landlord’s expense to the extent the cost thereof exceeds the award received by Landlord. Tenant, at Tenant's expense, shall, upon receipt, and to the extent, of Tenant's any available condemnation award, make repairs and restorations to the remaining Premises of the nature required as Tenant's Work and shall also repair or replace its stock in tradesoon as practicable, fixtures, furniture, furnishings, floor coverings, plate glass and equipment, and, if Tenant has closed, shall promptly reopen for business. If the restore that part of the Premises not taken to the extent reasonably practicable, so taken leaves space no longer suitable for the conduct of Tenant's business as contemplated hereunder (whether as a result of a direct taking of that the Premises or deprivation of reasonable access to the Premises)is usable, then at Tenant's option, to be exercised within thirty and (30ii) days of taking, the Term shall cease from and Tenant shall pay rent up to the day possession is taken with an appropriate refund by Landlord of such rent as may have been paid in advance for any period subsequent to after the date of the taking vesting of possession. Iftitle, the Minimum Annual Rental, Additional Rent and Annual Breakpoint shall be reduced in proportion to the determination of Landlord's lender, as specified in Landlord's mortgage, any significant portion remaining Floor Area of the Retail Area or the floor area of the building in which the Premises are located shall be taken by the exercise, or under the threat of the exercise of, the power of eminent domain and such taking has a permanent, material and adverse effect upon the operation of Tenant's business at the Premises as reasonably determined by Landlord's lender, Landlord may, by notice in writing to Tenant delivered on or before the day of surrendering possession to the public authority, terminate this Lease, and rent shall be paid or refunded, as appropriate, as of the date of terminationPremises. The Landlord shall only be entitled to exercise the termination rights described in the preceding sentence if it is determined by Landlord's lender that reasonable access or the supply of essential utilities or other service systems to the Premises cannot be restored.5/3/2023 ROS/Impossible Kicks 20 Form Rev. [02/2023]

Appears in 1 contract

Samples: Lease (Impossible Kicks Holding Company, Inc.)

Condemnation of Premises. Section 13.01 Total Condemnation If the whole entire Premises or the portions of the Premises Building or the Project required for reasonable access to, or the supply of essential utilities or other service systems thereto shall be taken or acquired by any public or quasi-public authority under the power or threat of eminent domainreasonable use of, the Term shall cease as of the day possession of the Premises shall be permanently taken by such public authority, and Tenant shall pay rent up to that date with an appropriate refund condemnation at any time during the Lease Term (whether by exercise of governmental power or the sale or transfer by Landlord to any condemnor under threat of condemnation or while proceedings for condemnation are pending), then this Lease shall terminate as of the earlier of (a) the date on which title vests in the condemnor, or (b) the date Tenant is dispossessed of the Premise by the condemnor. Upon such rent as may have been condemnation, all Rent shall be paid in advance for any period subsequent up to the date possession is takenof the termination of the Lease. If Section 13.02 Partial Condemnation Except as otherwise provided in this Section 13.02, if less than all of the Premises shall be so taken, the Term shall cease only on the parts so taken as of the day possession shall be is taken by such authority, and Tenant shall pay rent up to that day with appropriate refund condemnation during the Lease Term (whether by exercise of governmental power or the sale or transfer by Landlord to any condemnor under threat of such rent as may have been paid condemnation or while proceedings for condemnation are pending), then this Lease shall remain in advance for any period subsequent to the date that possession is taken, full force and thereafter the Base Rent and Tenant's Proportionate Share shall be equitably adjusted. Landlord shall, at its expense, make all necessary repairs and alterations to the basic building and exterior work so as to constitute the remaining Premises a complete architectural unit, provided that Landlord shall not be obligated to undertake any such repairs and alterations to the extent the cost thereof exceeds the award received by Landlord. Tenant, at Tenant's expense, shall, upon receipt, and to the extent, of Tenant's award, make repairs and restorations to the remaining Premises of the nature required as Tenant's Work and shall also repair or replace its stock in trade, fixtures, furniture, furnishings, floor coverings, plate glass and equipment, and, if Tenant has closed, shall promptly reopen for businesseffect. If the part of a partial taking leaves the Premises so taken leaves space no longer suitable unfit for the conduct of Tenant's business ’s business, then Tenant shall have the right to terminate this Lease effective as contemplated hereunder (whether as a result of a direct taking of the Premises earlier of the date (a) title vests in the condemnor, or deprivation of reasonable access (b) on which Tenant is dispossessed by the condemnor. Tenant may elect to the Premises)exercise its right to terminate this Lease pursuant to this Section 13.02, then if at Tenant's optionall, by delivering written notice to be exercised Landlord within thirty (30) days after receipt of taking, the Term shall cease and Tenant shall pay rent up to the day possession is taken with an appropriate refund by Landlord notice of such rent as may have been condemnation. All Rent shall be paid in advance for any period subsequent up to the date of termination, and Tenant shall have no claim against Landlord for the value of the unexpired portion of the Lease Term. If this Lease shall not be terminated, then the Rent reserved herein shall be prorated on the basis the of the Rentable Area of the portion of the Premises retained by Tenant in proportion to the Rentable Area contained in the Premises immediately prior to the partial taking. If Tenant’s continued use of the Premises requires alterations and repair by reason of a partial taking, all such alterations and repair shall be made by Landlord at Landlord’s expense. Tenant waives all rights it may have under California 41 Code of Civil Procedure Section 1265.130 or otherwise, to terminate this Lease based on partial condemnation. Section 13.03 Award to Tenant In the event of any condemnation (whether total or partial), Tenant shall have the right to claim and recover from the condemning authority such compensation as may be separately awarded or recoverable by Tenant for loss of Tenant’s business fixtures, or equipment belonging to Tenant immediately prior to the condemnation. In the event of any condemnation (whether total or partial), the entire condemnation award shall belong to Landlord (including, without limitation, any “bonus value” of the leasehold estate - OR - amount attributable to any excess of the market value of the Premises for the remainder of the Lease Term over the then present value of the Rent payable for the remainder of the Lease Term), and Tenant shall have no right to recover from Landlord or from the condemning authority for any claims arising out of such taking; provided, however, notwithstanding the foregoing, as long as the award payable to Landlord is not reduced thereby, Tenant shall have the right to make a separate claim in the condemnation proceeding for, and to recover from the condemning authority, such compensation as may be separately awarded or recoverable by Tenant for (a) loss of Tenant’s business fixtures, or equipment belonging to Tenant immediately prior to the condemnation, (b) the taking of possession. If, in the determination unamortized value (using the Lease Term as the amortization period) of Landlord's lender, as specified in Landlord's mortgage, any significant portion of the Retail Area or the floor area of the building in Tenant Improvements paid for by Tenant which the Premises are located shall be taken not removed by the exercise, or under the threat of the exercise of, the power of eminent domain and such taking has a permanent, material and adverse effect upon the operation of Tenant's business at the Premises as reasonably determined by Landlord's lender, Landlord may, by notice in writing to Tenant delivered on or before the day of surrendering possession to the public authority, terminate this Lease, and rent shall be paid or refunded, as appropriate, as of the date of termination(c) Tenant’s moving expenses. The Landlord shall only be entitled to exercise the termination rights described in the preceding sentence if it is determined by Landlord's lender that reasonable access or the supply of essential utilities or other service systems to the Premises cannot be restored.ARTICLE XIV

Appears in 1 contract

Samples: www.sec.gov

Condemnation of Premises. If all of the whole Premises, or a portion which will make the remainder unusable for the Permitted Use, be taken under the power of eminent domain (or a conveyance in lieu thereof), then this Lease shall terminate as of the vesting of title in the condemning authority and Base Rent and Additional Rent obligations shall be adjusted between Landlord and Tenant as of that date. If only a portion of the Premises or reasonable access or the supply of essential utilities or other service systems thereto shall be are taken or acquired by any public or quasi-public authority under the power or threat of eminent domain, the Term shall cease as and Tenant can reasonably continue use of the day possession remainder, then this Lease will not terminate, but Base Rent and Additional Rent obligations shall xxxxx in a just and proportionate amount to the loss of use occasioned by the taking. Except as otherwise provided by the authority granting an award of damages, Tenant shall have no right or claim to any part of any award made to or received by Landlord for any taking of the Premises and no right or claim for any alleged value of the unexpired portion of this Lease; provided, however, that Tenant shall not be prevented from making a claim against the condemning party (but not against Landlord) for any moving expenses, loss of profits, or taking of Tenant's personal property (including its leasehold interest) to which Tenant may be entitled. No Tenant's claim may, however, diminish Landlord's or Landlord's Xxxxxx's award with respect to the Premises. For purposes of this Section, Landlord and Tenant shall make a good faith determination as to whether or not the Premises are still suitable for the Permitted Use after a taking. If less than a fee title to all or any portion of the Premises shall be taken or condemned by such public authorityany governmental authority for temporary use or occupancy, this Lease shall continue in full force and Tenant shall pay rent up to that date effect; but with an appropriate refund by Landlord of such rent as may have been paid in advance for Rent abated during any period subsequent to the date possession is taken. If less than all when Xxxxxx's use of the Premises shall be so taken, is impaired in proportion to the Term shall cease only on the parts so taken as of the day possession shall be taken by such authority, and Tenant shall pay rent up to that day with appropriate refund by Landlord impairment of such rent as may have been paid in advance for any period subsequent to the date that possession is taken, and thereafter the Base Rent and Tenant's Proportionate Share shall be equitably adjusted. Landlord shall, at its expense, make all necessary repairs and alterations to the basic building and exterior work so as to constitute the remaining Premises a complete architectural unit, provided that Landlord shall not be obligated to undertake any such repairs and alterations to the extent the cost thereof exceeds the award received by Landlord. Tenant, at Tenant's expense, shall, upon receipt, and to the extent, of Tenant's award, make repairs and restorations to the remaining Premises of the nature required as Tenant's Work and shall also repair or replace its stock in trade, fixtures, furniture, furnishings, floor coverings, plate glass and equipment, and, if Tenant has closed, shall promptly reopen for business. If the part of the Premises so taken leaves space no longer suitable for the conduct of Tenant's business as contemplated hereunder (whether as a result of a direct taking of the Premises or deprivation of reasonable access to the Premises), then at Tenant's option, to be exercised within thirty (30) days of taking, the Term shall cease and Tenant shall pay rent up to the day possession is taken with an appropriate refund by Landlord of such rent as may have been paid in advance for any period subsequent to the date of the taking of possession. If, in the determination of Landlord's lender, as specified in Landlord's mortgage, any significant portion of the Retail Area or the floor area of the building in which the Premises are located shall be taken by the exercise, or under the threat of the exercise of, the power of eminent domain and such taking has a permanent, material and adverse effect upon the operation of Tenant's business at the Premises as reasonably determined by Landlord's lender, Landlord may, by notice in writing to Tenant delivered on or before the day of surrendering possession to the public authority, terminate this Lease, and rent shall be paid or refunded, as appropriate, as of the date of termination. The Landlord shall only be entitled to exercise the termination rights described in the preceding sentence if it is determined by Landlord's lender that reasonable access or the supply of essential utilities or other service systems to the Premises cannot be restoreduse.

Appears in 1 contract

Samples: Lease Agreement (Argos Therapeutics Inc)

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Condemnation of Premises. If In the event that the whole of the Premises or reasonable access or the supply of essential utilities or other service systems thereto demised premises shall be condemned or taken or acquired by in anymanner for any public or any quasi-public authority under the power or threat of eminent domainuse, the Term this lease shall cease terminate as of the day possession date of vesting of title. In the event that either a portion of the Premises shall be premises or the building of which the premises are a part is condemned or taken by eminent domain proceedings so as to render the premises substantially unusable, then in such public authorityevent, Lessee shall have the right to cancel and Tenant shall pay rent up to that date with an appropriate refund by Landlord of such rent as may have been paid in advance for any period subsequent to the date possession is taken. If less than all of the Premises shall be so taken, the Term shall cease only on the parts so taken terminate this agreement as of the day possession shall be taken by such authority, and Tenant shall pay rent up to that day with appropriate refund by Landlord date of such rent as may have been paid taking upon giving to Lessor notice in advance for any period subsequent to the date that possession is taken, and thereafter the Base Rent and Tenant's Proportionate Share shall be equitably adjusted. Landlord shall, at its expense, make all necessary repairs and alterations to the basic building and exterior work so as to constitute the remaining Premises a complete architectural unit, provided that Landlord shall not be obligated to undertake any writing of such repairs and alterations to the extent the cost thereof exceeds the award received by Landlord. Tenant, at Tenant's expense, shall, upon receipt, and to the extent, of Tenant's award, make repairs and restorations to the remaining Premises of the nature required as Tenant's Work and shall also repair or replace its stock in trade, fixtures, furniture, furnishings, floor coverings, plate glass and equipment, and, if Tenant has closed, shall promptly reopen for business. If the part of the Premises so taken leaves space no longer suitable for the conduct of Tenant's business as contemplated hereunder (whether as a result of a direct taking of the Premises or deprivation of reasonable access to the Premises), then at Tenant's option, to be exercised election within thirty (30) days after the receipt by Lessee from Lessor of taking, the Term shall cease and Tenant shall pay rent up to the day possession is taken with an appropriate refund by Landlord written notice of such rent as may have been paid in advance for any period subsequent to appropriation or taking. In the date event that only a part of the taking of possession. If, in the determination of Landlord's lender, as specified in Landlord's mortgage, any significant portion of the Retail Area or the floor area of the building in which the Premises are located premises shall be so condemned or taken by the exercise, or under the threat of the exercise of, the power of eminent domain and such taking has a permanentshall not render the premises substantially unusable, material and adverse effect upon the operation of Tenant's business at the Premises as reasonably determined by Landlord's lenderthen, Landlord may, by notice in writing to Tenant delivered on or before the day of surrendering possession to the public authority, terminate this Lease, and rent shall be paid or refunded, as appropriate, effective as of the date of terminationvesting of title, the rent hereunder for such part shall be equitably abated and this lease shall continue as to such part not so taken. The Landlord In the event that only a part of the building shall only be entitled to exercise so condemned or taken, then if substantial structural alteration or reconstruction of the termination rights described building shall, in the preceding sentence if it is determined reasonable opinion of Lessor, be necessary or appropriate as a result of such condemnation or taking (whether or not the premises be affected), Lessor may, at its option, terminate this lease and the term herein granted as of the date of such vesting of title by Landlord's lender that reasonable access notifying Lessee in writing within sixty (60) days following the vesting of title. Any termination hereunder shall be without prejudice to the rights of either the Lessor or the supply of essential utilities Lessee to recover compensation from such public authority for any loss or other service systems damages caused by such taking. Neither Lessor nor Lessee shall have any right in or to any award made to the Premises canother by such public authority; provided, however, to the extent that Lessee is not be restoredallowed by local law to make a recovery against such public authority, Lessor shall receive such condemnation award and Lessee hereby expressly assigns to Lessor any and all right, title and interest in and to such award.

Appears in 1 contract

Samples: Lease (Advanced Technical Products Inc)

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