Common use of CONDEMNATION OR EMINENT DOMAIN Clause in Contracts

CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, be paid up to the day that possession was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not materially interfere with the business of Lessee, then Lessee shall, with the use of the condemnation proceeds to be made available by Lessor, but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premises. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.

Appears in 25 contracts

Samples: Net Lease Agreement (Aei Income & Growth Fund Xxi LTD Partnership), Net Lease Agreement (Aei Income & Growth Fund Xxi LTD Partnership), Net Lease Agreement (Aei Income & Growth Fund Xxi LTD Partnership)

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CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably contractor or architect selected by Lessee and approved by Lessor and LesseeLessor, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other Lessor given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, shall be paid up to the day that possession was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not render the remainder thereof materially interfere with unusable for the business purposes for which the Leased Premises were leased, in the opinion of Lesseea licensed third party contractor or architect selected by Lessee and approved by Lessor, then Lessee shall, with the use of all of the condemnation proceeds (to be made available by Lessor, immediately if such proceeds are less than $100,000, or if in excess of $100,000, under a commercially reasonable construction draw procedure in payment of invoices for work performed submitted by Lessee or its contractors) but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Provided, however, Lessee may elect to replace the Leased Premises with a different restaurant concept, subject to Lessor's prior written approval, which approval shall not be unreasonably withheld or delayed, and further that Lessee shall not be required (unless Lessee so elects) to repair or restore the Leased Premises if the Term or any Renewal Term shall expire within two years of such partial taking. Lessee shall notify Lessor of Lessee's election to not so restore or repair the Leased Premises after such a partial taking within 60 days of notice of such taking. If Lessee elects to not make such repair or restoration, this Lease shall terminate upon Lessor's receipt of Lessee's notice of termination. Otherwise, if Lessee so elects or is required to repair or restore the Leased Premises, Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee, except as follows: any condemnation proceeds remaining after the completion of the repair or restoration of the Leased Premises shall be paid to Lessor. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premises. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; interruption of business; moving expenses; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.

Appears in 18 contracts

Samples: Net Lease Agreement (Aei Real Estate Fund Xv LTD Partnership), Net Lease Agreement (Aei Income & Growth Fund 25 LLC), Net Lease Agreement (Aei Net Lease Income & Growth Fund Xix Limited Partnership)

CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be taken so taken as to render reduce the remainder thereof materially unusable in licensed capacity of the opinion of Premises as a licensed third party arbitrator reasonably approved daycare facility by Lessor and Lessee, for the purposes for which the Leased Premises were leasedmore than 10%, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other Lessor if given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminatedterminated in accordance with this section, the Rent shall, if and as necessary, be paid up to the day that possession of the Leased Premises was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not materially interfere with not, reduce the business licensed capacity of Lesseethe facility by more than 10%, then Lessee shall, with the use using proceeds of the condemnation proceeds to be made available by Lessor, but otherwise at Lessee's own cost and expenseaward from the taking authority, restore the remaining portion of the Leased Premises to the extent necessary to render it satisfactory to Lessee and reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction construct the availability of funds to complete such workbuilding. Provided, further, the cost thereof to Lessor Lessee shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent rent to be paid by Lessee. This lease shall be deemed amended Lessor agrees to reflect make the taking in the legal description of the Leased Premisescondemnation proceeds available to Lessee for restoration or repair pursuant to this section. (C) All Subject to Article 12(B) above, all compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss for loss of business; , damage to or loss of value or cost of removal of inventoryor for the value of stock, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.. If a separate award shall be made representing the difference between the value of the leasehold estate and the fair market value of a comparable leasehold estate, Lessee shall be entitled to the same; provided, however, that Lessor shall be under no obligation to pursue such award on behalf of Lessee

Appears in 6 contracts

Samples: Net Lease Agreement (Aei Income & Growth Fund Xxii LTD Partnership), Net Lease Agreement (Aei Income & Growth Fund Xxii LTD Partnership), Net Lease Agreement (Aei Income & Growth Fund Xxii LTD Partnership)

CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be taken so taken as to render reduce the remainder thereof materially unusable in licensed capacity of the opinion of Premises as a licensed third party arbitrator reasonably approved daycare facility by Lessor and Lessee, for the purposes for which the Leased Premises were leasedmore than 10%, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other Lessor if given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminatedterminated in accordance with this section, the Rent shall, if and as necessary, be paid up to the day that possession of the Leased Premises was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not materially interfere with reduce the business licensed capacity of Lesseethe facility by more than 10%, then Lessee shall, with the use using proceeds of the condemnation proceeds to be made available by Lessor, but otherwise at Lessee's own cost and expenseaward from the taking authority, restore the remaining portion of the Leased Premises to the extent necessary to render it satisfactory to Lessee and reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction construct the availability of funds to complete such workbuilding. Provided, further, the cost thereof to Lessor Lessee shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent rent to be paid by Lessee. This lease Lessor agrees to make the condemnation proceeds available to Lessee for restoration or repair pursuant to this section. Notwithstanding any provision in this Lease to the contrary, if any award for any portion of the Premises appropriated or taken under power of eminent domain, or otherwise, which taking is deemed to be temporary, Lessee shall, except as stated in the subsequent sentence, have exclusive and full rights to any such award based upon such temporary taking, and Lessor agrees to waive any right for such temporary taking. If pursuant to this Lease Lessee terminates the Lease, then in such event any award for temporary condemnation for a period of time after the termination shall belong to Lessor. If in the event the temporary taking is for a period of time that extends after the end of the Term hereof, then Lessor shall be deemed amended entitled to reflect the taking in the legal description a pro-rata amount of the Leased Premisestemporary taking award based upon the amount of time attributable to the period of time after the Term of the Lease. (C) All Subject to Article 12(B) above, all compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss for loss of business; , damage to or loss of value or cost of removal of inventoryor for the value of stock, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.. If a separate award shall be made representing the difference between the value of the leasehold estate and the fair market value of a comparable leasehold estate, Lessee shall be entitled to the same; provided, however, that Lessor shall be under no obligation to pursue such award on behalf of Lessee

Appears in 5 contracts

Samples: Net Lease Agreement (Aei Income & Growth Fund Xxi LTD Partnership), Net Lease Agreement (Aei Income & Growth Fund 24 LLC), Net Lease Agreement (Aei Income & Growth Fund Xxi LTD Partnership)

CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, be paid up to the day that possession was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not materially interfere with the business of Lessee, then Lessee shall, with the use of the condemnation proceeds to be made available by Lessor, but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which on the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premises. (C) Termination of this Lease because of condemnation shall be without prejudice to the rights of either Lessor or Lessee to recover from the condemning authority compensation and damages for the injury or loss sustained by them as a result of the taking. All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.

Appears in 4 contracts

Samples: Net Lease Agreement (Aei Real Estate Fund Xv LTD Partnership), Net Lease Agreement (Aei Net Lease Income & Growth Fund Xix Limited Partnership), Net Lease Agreement (Aei Real Estate Fund Xvii Limited Partnership)

CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be taken so taken as to render reduce the remainder thereof materially unusable in licensed capacity of the opinion of Premises as a licensed third party arbitrator reasonably approved daycare facility by Lessor and Lessee, for the purposes for which the Leased Premises were leasedmore than 10%, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other Lessor if given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminatedterminated in accordance with this section, the Rent shall, if and as necessary, be paid up to the day that possession of the Leased Premises was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not materially interfere with reduce the business licensed capacity of Lesseethe facility by more than 10%, then Lessee shall, with the use using proceeds of the condemnation proceeds to be made available by Lessor, but otherwise at Lessee's own cost and expenseaward from the taking authority, restore the remaining portion of the Leased Premises to the extent necessary to render it satisfactory to Lessee and reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction construct the availability of funds to complete such workbuilding. Provided, further, the cost thereof to Lessor Lessee shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent rent to be paid by Lessee. This lease Lessor agrees to make the condemnation proceeds available to Lessee for restoration or repair pursuant to this section. Notwithstanding any provision in this Lease to the contrary, if any award for any portion of the Premises appropriated or taken under power of eminent domain, or otherwise, which taking is deemed to be temporary, Lessee shall, except as stated in the subsequent sentence, have exclusive and full rights to any such award based upon such temporary taking, and Lessor agrees to waive any right for such temporary taking. If pursuant to this Lease Lessee terminates the Lease, then in such event any award for temporary condemnation for a period of time after the termination shall belong to Lessor. If in the event the temporary taking is for a period of time that extends after the end of the Term hereof, then Lessor shall be deemed amended entitled to reflect the taking in the legal description a pro- rata amount of the Leased Premisestemporary taking award based upon the amount of time attributable to the period of time after the Term of the Lease. (C) All Subject to Article 12(B) above, all compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss for loss of business; , damage to or loss of value or cost of removal of inventoryor for the value of stock, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.. If a separate award shall be made representing the difference between the value of the leasehold estate and the fair market value of a comparable leasehold estate, Lessee shall be entitled to the same; provided, however, that Lessor shall be under no obligation to pursue such award on behalf of Lessee

Appears in 4 contracts

Samples: Net Lease Agreement (Aei Net Lease Income & Growth Fund Xx Limited Partnership), Net Lease Agreement (Aei Income & Growth Fund Xxii LTD Partnership), Net Lease Agreement (Aei Income & Growth Fund 24 LLC)

CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises or its related parking facilities are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid only up to that daythe day of such taking. If If (i) any part of the Leased Premises shall be so taken kitchen area (defined as to render the remainder thereof materially unusable area in the opinion of a licensed third party arbitrator reasonably approved by Lessor which food is stored, prepared and Lessee, for the purposes for which cooked) located within the Leased Premises were leasedwhich results in a material and adverse effect on the kitchen area, (ii) ten percent (10%) or more of the remaining portions of the Building, (iii) fifteen percent (15%) or more of the parking spaces utilized by the Leased Premises, or (iv) access to or from the Leased Premises to publicly dedicated roadways shall be acquired or materially and adversely altered by the right of condemnation or eminent domain for any public or quasi-public use or purpose, or sold to a condemning authority under threat of condemnation, and Lessor cannot provide, at no cost or expense to Lessee, reasonably comparable alternate access and/or parking reasonably satisfactory to Lessee, then Lessor and Lessee shall each have the right and option to terminate this Lease on thirty (30) days by giving written notice to the other given within ninety (90) days after the date of such takingtermination to Lessor not later than six (6) months after possession is taken by the condemning authority. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, shall be paid up to the day that possession was surrenderedsurrendered (and the Rent to be paid for the period following such taking and ending on such date of surrender shall be proportionately abated to take into account the reduction of the Leased Premises resulting from such taking). (B) If any part of the Leased Premises shall be so taken such that it does Lease is not materially interfere with the business of Lesseeterminated pursuant to Paragraph (A) above, then Lessee shall, with the use of all of the condemnation proceeds (to be made available by Lessor, immediately if such proceeds are less than $100,000, or if in excess of $100,000, under a commercially reasonable construction draw procedure in payment of invoices for work performed submitted by Lessee or its contractors) but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased, and Rent shall be abated during such period of construction, and thereafter Rent shall be proportionately abated to take into account the reduction of the Leased Premises resulting from such taking, provided, however, Lessee may elect to replace the Leased Premises with a different Permitted Use, subject to Lessor's prior written approval, which approval shall not be unreasonably withheld, conditioned or delayed, and further that Lessee shall not be required (unless Lessee so elects) to repair or restore the Leased Premises if the Term or any Renewal Term shall expire within two years of such partial taking. Lessee shall make all repairs notify Lessor of Lessee's election to the building in which not so restore or repair the Leased Premises is located to the extent necessary to constitute the building after such a complete architectural unit. Provided, however, that partial taking within 60 days of notice of such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premisestaking. (C) All Subject to the provisions of Section 12(B), all compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises Leased Premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; interruption of business; moving expenses; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.

Appears in 4 contracts

Samples: Net Lease Agreement (Aei Income & Growth Fund Xxii LTD Partnership), Net Lease Agreement (Aei Income & Growth Fund 24 LLC), Net Lease Agreement (Aei Income & Growth Fund 24 LLC)

CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, be paid up to the day that possession was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not materially interfere with the business of Lessee, then Lessee shall, with the use of the condemnation proceeds to be made available by Lessor, but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which on the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premises. (CB) Termination of this Lease because of condemnation shall be without prejudice to the rights of either Lessor or Lessee to recover from the condemning authority compensation and damages for the injury or loss sustained by them as a result of the taking. All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.

Appears in 3 contracts

Samples: Net Lease Agreement (Aei Real Estate Fund Xviii Limited Partnership), Net Lease Agreement (Aei Net Lease Income & Growth Fund Xix Limited Partnership), Net Lease Agreement (Aei Income & Growth Fund 23 LLC)

CONDEMNATION OR EMINENT DOMAIN. (A) A. If the whole hole of the Leased Premises are taken by any public authority authority, ("Condemnor") under the power of eminent domain, or by private purchase in lieu thereofthereof ("Condemnation"), then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, for the purposes for which the Leased Premises were leased, then Lessor and Xxxxx Xxxxxxxxx Xxxxx Xxxxxx /s/ XX Xxxxxx /s/ RPJ 5/28/99 B. Lessee shall each have the right to elect to terminate this the Lease on thirty if a Condemnor by Condemnation acquires any of the following: 1. any material portion of the restaurant building, 2. in excess of fifteen percent (3015%) days notice to of the other given parking spaces within ninety (90) days after the date of such takingLeased Premises, or 3. Any taking which would prohibit or materially interfere with Xxxxxx's using the Leased Premises as a restaurant. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, be paid up to the day that possession of the Leased Premises was surrendered. (B) C. If any part of the building or more than 15% of the parking spaces within the Leased Premises shall be so taken such that it but Lessee does not materially interfere with the business of Lesseeelect to terminate this Lease, then Lessee shall, with the use of the condemnation proceeds which Lessor shall make available to be made available by LessorLessee, but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its the condemnation award, all to be done without any adjustments in Rent to be paid by LesseeXxxxxx. This lease Lease shall be deemed amended to reflect the taking in the legal description of the Leased Premises. (C) D. All compensation for real property awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by LesseeXxxxxx, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss for loss of business; business or goodwill, damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to LesseeXxxxxx; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award. E. If the Premises becomes subject to Condemnation for a period of less than one (1) year, then this shall constitute a temporary Condemnation, during which time all the provisions of this Lease shall remain in full force and effect. Lessee shall be entitled to compensation from the Condemnor if allowable or against the total award or for the award taking of a construction easement, for interruption of Xxxxxx's business and such other relief as provided by law as a result of any fee mortgageesuch temporary Condemnation.

Appears in 3 contracts

Samples: Sale and Purchase Agreement (Aei Real Estate Fund 85-a LTD Partnership), Sale and Purchase Agreement (Aei Income & Growth Fund Xxii LTD Partnership), Sale and Purchase Agreement (Aei Net Lease Income & Growth Fund Xix Limited Partnership)

CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably contractor or architect approved by Lessor and LesseeLessor, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, shall be paid up to the day that possession was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not materially interfere with the business of Lessee, then Lessee shall, with the use of the condemnation proceeds to be made available by Lessor, but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premises. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.

Appears in 3 contracts

Samples: Net Lease Agreement (Aei Real Estate Fund Xvi LTD Partnership), Net Lease Agreement (Aei Real Estate Fund Xvii Limited Partnership), Net Lease Agreement (Aei Real Estate Fund Xviii Limited Partnership)

CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be taken so taken as to render reduce the remainder thereof materially unusable in licensed capacity of the opinion of Premises as a licensed third party arbitrator reasonably approved daycare facility by Lessor and Lessee, for the purposes for which the Leased Premises were leasedmore than 10%, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other Lessor if given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminatedterminated in accordance with this section, the Rent shall, if and as necessary, be paid up to the day that possession of the Leased Premises was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not materially interfere with not, reduce the business licensed capacity of Lesseethe facility by more than 10%, then Lessee shall, with the use using proceeds of the condemnation proceeds to be made available by Lessor, but otherwise at Lessee's own cost and expenseaward from the taking authority, restore Lessee /s/ JR Lessor /s/ RPJ Children's World Purchase Agreement 5/20/99 the remaining portion of the Leased Premises to the extent necessary to render it satisfactory to Lessee and reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction construct the availability of funds to complete such workbuilding. Provided, further, the cost thereof to Lessor Lessee shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent rent to be paid by Lessee. This lease shall be deemed amended Lessor agrees to reflect make the taking in the legal description of the Leased Premisescondemnation proceeds available to Lessee for restoration or repair pursuant to this section. (C) All Subject to Article 12(B) above, all compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss for loss of business; , damage to or loss of value or cost of removal of inventoryor for the value of stock, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.. If a separate award shall be made representing the difference between the value of the leasehold estate and the fair market value of a comparable leasehold estate, Lessee shall be entitled to the same; provided, however, that Lessor shall be under no obligation to pursue such award on behalf of Lessee

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Aei Real Estate Fund Xv LTD Partnership), Purchase and Sale Agreement (Aei Income & Growth Fund Xxii LTD Partnership)

CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrenderedsurrendered to the public authority, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator who has significant experience in the retail industry, reasonably approved by Lessor and Lessee, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, be paid up to the day that possession was surrenderedsurrendered to the public authority. (B) If any part of the Leased Premises shall be so taken such that it does not materially interfere with the business of Lessee, then Lessee shall, with the use of the condemnation proceeds (which to the extent of the cost of restoration to return the improvements to a complete architectural unit shall be made available by Lessor, but otherwise at Lessee's own cost and expense), restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that the cost of such work to Lessor shall not exceed the replacement cost of improvements similar in scope and quality of the work required to be done by Lessee in originally constructing such building unless improvements. Further, if the cost of such work proposed by Lessee shall exceed the condemnation award, or be in excess of the replacement cost of the improvements similar in scope and quality of the work done by Lessee in originally constructing such improvements, Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds (if any in excess of the condemnation proceeds be required) to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premises. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; damage to or loss of value or cost of removal removal, including moving or relocation costs, of inventory, trade fixtures, furniture, and other personal property belonging to Lessee's Property; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.

Appears in 2 contracts

Samples: Net Lease Agreement (Aei Income & Growth Fund Xxi LTD Partnership), Net Lease Agreement (Aei Real Estate Fund Xvi LTD Partnership)

CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereofthereof (with "private purchase" meaning a grantee which has the legal right of eminent domain), then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, or unfit for the purposes for which the Leased Premises were leased, in the opinion of an arbitrator appointed by the American Arbitration Association office closest to the site of the Leased Premises pursuant to its rules and regulations and reasonably approved by Lessor and Lessee (with both parties having a right to a hearing at such office before said arbitrator), then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, be paid up to the day that possession was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not materially interfere with the business of Lessee, then Lessee shall, with the use of the condemnation proceeds (which Lessor agrees to be made available by Lessormake available), but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premises. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.

Appears in 2 contracts

Samples: Net Lease Agreement (Aei Real Estate Fund Xvii Limited Partnership), Net Lease Agreement (Aei Income & Growth Fund Xxii LTD Partnership)

CONDEMNATION OR EMINENT DOMAIN. (Aa) If In the whole event that all of the Leased Premises are shall be condemned or taken by eminent domain by any public authority under having the power right of eminent domain, or if purchased by private purchase such authority in lieu thereofof condemnation of said Leased Premises, then the term of this Lease shall automatically cease and terminate upon as of the date possession is surrendered, title vests in the condemnor and Rent all rentals shall be paid up to that day. If date, and the Lessee shall have no claim against the Lessor for the value of any unexpired term of the Lease but Lessee shall be entitled to the portion of the condemnation award attributed to the leasehold improvements. b) In the event part of the Leased Premises shall be so taken as to render by eminent domain by any authority having the remainder thereof materially unusable right of eminent domain, or if purchased by such authority in lieu of condemnation of said Leased Premises, and such purchase or taking shall, in the reasonably exercised opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, for render the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, be paid up to the day that possession was surrendered. (B) If any part remainder of the Leased Premises shall be so taken such that it does not materially interfere with unsuitable for the business of the Lessee, then the term of this Lease shall cease and terminate at the same time and in the same manner as if the entire Leased Premises had been taken, and the Lessee shall, with shall have no claim against the use Lessor for the value of any unexpired term of the Lease but Lessee shall be entitled to the portion of the condemnation proceeds to be made available by Lessor, but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises award attributed to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premisesleasehold improvements. (Cc) All compensation awarded or paid upon such total or In the event a partial taking of the Leased Premises does not render the remainder of the Leased Premises unsuitable, in the reasonably exercised opinion of the Lessor and the Lessee, for the business of the Lessee, this Lease shall belong continue in force subject only to a reasonable adjustment of rental for the portion taken which adjustment shall not be less than the pro-rata amount of the rent based on the ratio between the total original square footage and the square footage taken. d) In the event that the Lessee and the Lessor cannot agree on whether the Leased Premises has been rendered unsuitable by a partial taking or on what constitutes a reasonable adjustment of rental, as required by subparagraph (c), the amount of such adjustment shall be determined by arbitration according to the Wisconsin Arbitration Act. The arbitrator's decision and award of a dispute and/or controversy shall be in writing and shall be final and binding on the Lessee and Lessor, and the decision of the arbitrator shall be deemed to be a judgment and/or decree and may be entered as such in any court of competent jurisdiction. Green Bay, Wisconsin shall be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award place of any fee mortgageearbitration proceeding held hereunder.

Appears in 2 contracts

Samples: Lease Agreement (Nicolet Bankshares Inc), Lease (Nicolet Bankshares Inc)

CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably contractor or architect approved by Lessor and LesseeLessor, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other Lessor given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, shall be paid up to the day that possession was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not materially interfere with the business of Lessee, then Lessee shall, with the use of the condemnation proceeds to be made available by Lessor, but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee, except as follows: any condemnation proceeds remaining after the completion of the repair or restoration of the Leased Premises shall be paid to Lessor to reduce the sum of monies expended by Lessor to acquire from Lessee its interest in the Lease Premises and annual rent hereunder shall be reduced by 11.25% of such amount. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premises. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.

Appears in 2 contracts

Samples: Net Lease Agreement (Aei Income & Growth Fund Xxi LTD Partnership), Net Lease Agreement (Aei Real Estate Fund Xv LTD Partnership)

CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, be paid up to the day that possession was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not materially interfere with the business of LesseeXxxxxx, then Lessee shall, with the use of the condemnation proceeds to be made available by Lessor, but otherwise at LesseeXxxxxx's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee Xxxxxx in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by LesseeXxxxxx. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premises. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by LesseeXxxxxx, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee Xxxxxx from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.

Appears in 2 contracts

Samples: Development Financing and Leasing Commitment (Aei Income & Growth Fund 23 LLC), Development Financing and Leasing Commitment (Aei Real Estate Fund Xviii Limited Partnership)

CONDEMNATION OR EMINENT DOMAIN. (A) A. If the whole of the Leased Premises are taken by any public authority authority, ("Condemnor") under the power of eminent domain, or by private purchase in lieu thereofthereof ("Condemnation"), then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, for the purposes for which the Leased Premises were leased, then Lessor and . B. Lessee shall each have the right to elect to terminate this the Lease on thirty if a Condemnor by Condemnation acquires any of the following: 1. any material portion of the restaurant building, 2. in excess of fifteen percent (3015%) days notice to of the other given parking spaces within ninety (90) days after the date of such takingLeased Premises, or 3. Any taking which would prohibit or materially interfere with Lessee's using the Leased Premises as a restaurant. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, be paid up to the day that possession of the Leased Premises was surrendered. (B) C. If any part of the building or more than 15% of the parking spaces within the Leased Premises shall be so taken such that it but Lessee does not materially interfere with the business of Lesseeelect to terminate this Lease, then Lessee shall, with the use of the condemnation proceeds which Lessor shall make available to be made available by LessorLessee, but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its the condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease Lease shall be deemed amended to reflect the taking in the legal description of the Leased Premises. (C) D. All compensation for real property awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss for loss of business; business or goodwill, damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award. E. If the Premises becomes subject to Condemnation for a period of less than one (1) year, then this shall constitute a temporary Condemnation, during which time all the provisions of this Lease shall remain in full force and effect. Lessee shall be entitled to compensation from the Condemnor if allowable or against the total award or for the award taking of a construction easement, for interruption of Lessee's business and such other relief as provided by law as a result of any fee mortgageesuch temporary Condemnation.

Appears in 1 contract

Samples: Lease Agreement (Aei Real Estate Fund 85-a LTD Partnership)

CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator architect reasonably approved by Lessor and LesseeLessor, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, be paid up to the day that possession was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not materially interfere with the business of Lessee, then Lessee shall, with the use of the condemnation proceeds to be made available by Lessor, but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premises. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.

Appears in 1 contract

Samples: Net Lease Agreement (Aei Real Estate Fund 85-a LTD Partnership)

CONDEMNATION OR EMINENT DOMAIN. (Aa) If In case of a Taking or the whole commencement of any proceedings or negotiations which might result in any Taking, the Lessee will promptly give notice thereof to the Lessor, generally describing the nature and extent of such Taking which might result therefrom, as the case may be. The Lessee hereby assigns to the Lessor any award or payment on account of any Taking of the Leased Premises are taken by Nuclear Fuel or any public authority under portion thereof which is payable to the power of eminent domain, or by private purchase in lieu thereof, then this Lease Lessee. The Lessor shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate participate fully in any proceedings or negotiations in connection with any such Taking of the Nuclear Fuel or any portion thereof, provided that Lessee shall be entitled to control such proceedings or negotiations as long as no Event of Default shall have occurred and be then continuing. The Lessee will pay all reasonable costs, fees and expenses incurred by the Lessor in connection with any Taking of the Nuclear Fuel or any portion thereof and seeking and obtaining any award or payment on account thereof. (b) In the case of any Taking, (i) the provisions of this Lease on thirty shall remain in effect, except as expressly provided below in this Section 19, without any abatement or reduction of Basic Rent, Additional Rent, Advance Rent or any other sum payable hereunder, and (30ii) days notice to unless the other given Lessee shall have exercised within ninety (90) 90 days after the date happening of such taking. In the event that this Lease shall terminate Taking its right to obtain a release of such Nuclear Fuel or be terminatedportion thereof pursuant to Section 10(b), the Rent shallLessee, whether or not the awards or payments, if any, on account of such Taking shall be sufficient for the purpose, at its cost and as necessaryexpense (without limiting the Lessee’s right to request payment by the Lessor of such expenses provided in Section 6) will promptly commence and will complete (subject to Unavoidable Delays but in any event within 18 months after the happening of such Taking) Restoration of the Nuclear Fuel or the portion thereof affected by such Taking, be paid up unless the Lessee shall have delivered to the day Lessor the certificate described in Section 20(a)(i) hereof within 90 days after the happening of such Taking, provided that possession was surrendered. (B) If any part in the case of a Taking for temporary use the Leased Premises Lessee shall not be so taken required to effect such that it does not materially interfere with the business Restoration until such Taking has terminated. A Taking for temporary use shall mean a requisition of Lessee, then Lessee shall, with the use of the condemnation proceeds Nuclear Fuel, or any portion thereof which by its terms does not exceed the original term of this Lease or the then current extended term. Upon completion of Restoration, the Lessee shall execute and deliver to be made available the Lessor a Fuel Schedule, shall cause the relevant Manufacturer of the replacement Nuclear Fuel to execute and deliver to the Lessor a Xxxx of Sale substantially in the form of Schedule C, unless the Nuclear Fuel Contract provides for the transfer of title to the Lessor without execution and delivery by Lessorthe relevant Manufacturer of a Xxxx of Sale, but otherwise at Lessee's own cost and expense, restore shall deliver to the remaining Lessor a duly executed Xxxx of Sale substantially in the form of Schedule C hereto describing any portion of the Leased Premises Nuclear Fuel to which the Lessee has title; and the Lessor shall accept such Xxxx or Bills of Sale. As to any condemned or requisitioned (or otherwise taken) Nuclear Fuel originally included on Schedule A, as amended, and replaced by such Restoration, the Lessor shall deliver to the extent necessary to render it reasonably suitable for Lessee a Fuel Schedule and a Xxxx of Sale substantially in the purposes form of Schedule E hereto. (c) If no Event of Default shall have occurred and be then continuing, all awards and payments received by the Lessor on account of any Taking of the Nuclear Fuel or any portion thereof (less the actual costs, fees and expenses incurred in the collection thereof, for which it was leased. Lessee the Person incurring the same shall make all repairs be reimbursed from such awards or payments) shall be paid to the building in which Collateral Account and, at the Leased Premises is located Lessee’s option, credited against the purchase price of Nuclear Fuel released pursuant to Sections 10(b) and 19(b) or paid to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope Lessee in reimbursement of the work required to be done cost of Restoration, as contemplated by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability Section 19(b). (d) For purposes of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation awardthis Lease, all amounts paid pursuant to be done without any adjustments agreement with any condemning authority which has been made in Rent to be paid by Lessee. This lease connection with any Taking shall be deemed amended to reflect the taking in the legal description constitute an award on account of the Leased Premisessuch Taking. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.

Appears in 1 contract

Samples: Fuel Lease (Entergy New Orleans, LLC)

CONDEMNATION OR EMINENT DOMAIN. (Aa) If In case of a Taking or the whole commencement of any proceedings or negotiations which might result in a Taking, Lessee will promptly give notice thereof to Lessor, generally describing the nature and extent thereof. Lessee hereby assigns to Lessor any award or payment payable to Lessee on account of a Taking of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease Nuclear Fuel. Lessor shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate participate fully in any proceedings or negotiations in connection with any Taking of Nuclear Fuel; provided that Lessee shall be entitled to control such proceedings or negotiations so long as no Lease Event of Default shall have occurred and be continuing. Lessee will pay all reasonable costs and expenses incurred by Lessor in connection with any Taking of Nuclear Fuel and seeking and obtaining any award or payment on account thereof. (b) In the case of any Taking, (i) the provisions of this Fuel Lease on thirty shall remain in effect, except as expressly provided below in this Section 16, without any abatement or reduction of any amount payable hereunder, and (30ii) days notice to the other given unless Lessee shall have exercised, within ninety (90) 180 days after the date happening of such taking. In the event that this Lease shall terminate or be terminatedTaking, the Rent shallits right to obtain a release of such Nuclear Fuel pursuant to subsection 7(c) hereof, if and as necessary, be paid up to the day that possession was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not materially interfere with the business of Lessee, then Lessee shall, with the use of the condemnation proceeds to be made available by Lessor, but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premises. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether or not the awards or payments, if any, on account of such damages Taking shall be awarded as compensation sufficient for diminution in value to the leasehold or to the fee purpose, at its expense, will promptly commence and complete Restoration of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in Nuclear Fuel affected by such proceedings for: Loss of business; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to LesseeTaking; provided, however, that Lessee may request payment by Lessor of such expenses of Restoration pursuant to Section 4 hereof. Upon completion of Restoration, Lessee shall execute and deliver to Lessor a Fuel Schedule, together with any necessary Bills of Sale, to subject such replacement Nuclear Fuel to this Fuel Lease. Restoration shall be promptly commenced and completed no later than 24 months after a Taking. If Restoration is not completed within 24 months after a Taking, Lessee must obtain a release of the Nuclear Fuel affected by such claim Taking pursuant to subsection 7(c) hereof. (c) If no Lease Event of Default shall diminish or otherwise adversely affect Lessor's award or the award have occurred and be continuing and if Lessee exercises its right to obtain a release of any fee mortgageeNuclear Fuel pursuant to Section 7(c) hereof, then all awards and payments received prior to, contemporaneous with or following such release on account of any Taking of such Nuclear Fuel (less the actual costs incurred in the collection thereof) shall be paid to Lessee. (d) For purposes of this Fuel Lease, all amounts paid pursuant to any agreement with any condemning authority which has been made in connection with or in anticipation of any Taking shall be deemed to constitute an award on account of such Taking.

Appears in 1 contract

Samples: Fuel Lease (Entergy New Orleans, LLC)

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CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. Any such termination of this Lease shall not preclude or restrict Lessee=s rights to any claim or award for claims it may have as set forth in Article 12, paragraph (C) below. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, be paid up to the day that possession was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not materially interfere with the business of Lessee, then Lessee shall, at Lessor=s cost and expense (and Lessor hereby covenants to make condemnation proceeds available to Lessee consistent with the use of the condemnation proceeds to be made available by Lessor, but otherwise at Lessee's own cost and expenseterms hereof), restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. building.. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premises. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises (expressly excluding any Lessee's Award as hereinafter defined) shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises Leased Premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business and or destruction of its business; damage to or loss of value or cost of removal of inventory, trade fixturesTrade Fixtures, furniture, Personalty, and other personal property belonging to Lessee (any and all such award collectively referred to supra and hereinafter as "Lessee's Award"); provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee. Lessor and Lessee agree to cooperate to maximize the amount of any such claim or award and agree to minimize the interference with the other party=s prosecution of its claims.

Appears in 1 contract

Samples: Net Lease Agreement (Aei Income & Growth Fund Xxii LTD Partnership)

CONDEMNATION OR EMINENT DOMAIN. (A16.01. If all or any material portion of any building(s) If on the whole of the Leased Premises are is taken by for any public authority or quasi-public use under the power any governmental law, ordinance, or regulation or by right of eminent domain, domain or by private purchase in lieu thereof, then and such taking renders any such building unsuitable for Tenant's continuing use in the reasonable discretion of Landlord, this Lease, at the option of Landlord or Tenant, shall terminate and the Monthly Rent shall xxxxx during the unexpired portion of this Lease, effective with the physical taking of such portion of the Premises. Separate awards for damage to the respective interests of Landlord and Tenant hereunder shall be made if permitted by law and each shall be entitled to receive or retain such award as shall be made to it, and the termination of this Lease shall automatically terminate upon not affect the date possession is surrenderedrights of the respective parties to the awards. If the law only provides one award, it shall be equitably divided between Landlord and Tenant. Equitable division of condemnation proceeds shall be made by taking into account each party's investment and interest in the portion of the property and the improvements so taken, the economic effect on the portion, if any, not taken, and said taken portion's economic value, giving due consideration to the number of years which would have remained in the Term of this Lease as it could have been extended. 16.02. If this Lease is not terminated subsequent to a taking for any public or quasi-public use under any governmental law, ordinance, or regulation, or by right of eminent domain, or by a private purchase in lieu thereof, the Monthly Rent payable hereunder during the unexpired portion of this Lease shall not be reduced. Separate awards shall be paid up made in such event for damages to that daythe respective interests of Landlord and Tenant hereunder or, if the law only permits one award, it shall be equitably divided as set forth above. 16.03. If Landlord shall immediately notify Tenant of any part notice which Landlord may receive from any governmental authority concerning the temporary or permanent requisition of any portion of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other given within ninety (90) days after the date of such takingPremises. In the event that this Lease shall terminate of any temporary requisition not requiring repairs or be terminated, the Rent shall, if and as necessary, be paid up modifications to the day that possession was surrendered. (B) If any part Premises, Tenant shall be entitled to negotiate for, receive and retain the entire amount of the Leased Premises shall be so taken such that it does not materially interfere with the business of Lessee, then Lessee shall, with the use of the condemnation proceeds to be made available by Lessor, net award but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work Monthly Rent shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premisesxxxxx. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.

Appears in 1 contract

Samples: Lease Agreement (Pra International Inc)

CONDEMNATION OR EMINENT DOMAIN. (A) 16.01. If the whole all or any material portion of the Leased Premises are is taken by for any public authority or quasi-public use under the power any governmental law, ordinance, or regulation or by right of eminent domain, domain or by private purchase in lieu thereof, then and such taking renders the Premises unsuitable for Tenant's continuing use in the reasonable discretion of Landlord, this Lease, at the option of Landlord or Tenant, shall terminate and the Monthly Rent shall xxxxx during the unexpired portion of this Lease, effective with the physical taking of the Premises. Separate awards for damage to the respective interests of Landlord and Tenant hereunder shall be made if permitted by law and each shall be entitled to receive or retain such award as shall be made to it, and the termination of this Lease shall automatically terminate upon not affect the date possession is surrenderedrights of the respective parties to the awards. If the law only provides one award, it shall be equitably divided between Landlord and Tenant. Equitable division of condemnation proceeds shall be made by taking into account each party's investment and interest in the portion of the property and the improvements so taken, the economic effect on the portion, if any, not taken, and said taken portion's economic value, giving due consideration to the number of years which would have remained in the Term of this Lease as it could have been extended. 16.02. If this Lease is not terminated subsequent to a taking for any public or quasi-public use under any governmental law, ordinance, or regulation, or by right of eminent domain, or by a private purchase in lieu thereof, the Monthly Rent payable hereunder during the unexpired portion of this Lease shall not be reduced. Separate awards shall be paid up made in such event for damages to that daythe respective interests of Landlord and Tenant hereunder or, if the law only permits one award, it shall be equitably divided as set forth above. 16.03. If Landlord shall immediately notify Tenant of any part notice which Landlord may receive from any governmental authority concerning the temporary or permanent requisition of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other given within ninety (90) days after the date of such takingPremises. In the event that this Lease shall terminate of any temporary requisition not requiring repairs or be terminated, the Rent shall, if and as necessary, be paid up modifications to the day that possession was surrendered. (B) If any part Premises, Tenant shall be entitled to negotiate for, receive and retain the entire amount of the Leased Premises shall be so taken such that it does not materially interfere with the business of Lessee, then Lessee shall, with the use of the condemnation proceeds to be made available by Lessor, net award but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work Monthly Rent shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premisesxxxxx. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.

Appears in 1 contract

Samples: Lease Agreement (Pra International Inc)

CONDEMNATION OR EMINENT DOMAIN. (A) 11.1 If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, for the purposes for which the Leased Premises were leased, then Lessor and Lessee Tenant shall each have the right to terminate this Lease on upon thirty (30) days notice to the other Landlord and given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, rental shall be paid up to the day that possession was surrendered. (B) . If any part of after such a taking, the Leased Premises Lease shall not terminate nor be so taken such that it does not materially interfere with the business of Lesseeterminated, then Lessee shall, with the use of the condemnation proceeds to be made available by Lessor, but otherwise Landlord shall at Lessee's own its cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee as near as practicable its pre-existing condition, and shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, provided that such work Landlord shall not exceed be obligated to expend any sums in excess of any condemnation award which it receives. Rent shall be prorated on the scope basis of useable building space before and after such repairing or restoration. Landlord and Tenant agree that if a taking results in a loss of thirty (30) or more parking stalls on the Premises and Landlord can not provide replacement parking within an one block radius of the work required to be done by Lessee in originally constructing Premises, then such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease taking shall be deemed amended substantial enough to reflect make the taking in the legal description of the Leased PremisesPremises unuseable for their intended purpose under this clause. (C) 11.2 All compensation awarded or paid upon such total total, temporary or partial taking of the Leased Premises shall belong to and be the property of Lessor the Landlord without any participation by Lesseethe Tenant, whether such damages shall be awarded as compensation for diminution in value to the leasehold estate or to the fee estate of the premises herein leasedPremises. Nothing contained herein shall be construed to preclude Lessee the Tenant from prosecuting any claim directly against the condemning authority in such proceedings for: Loss for loss of business; , damage to or loss of value or cost of removal of inventoryor for the value of the stock, trade fixtures, furniture, equipment and other personal property belonging to Lesseethe Tenant; provided, however, that no such claim shall diminish or otherwise adversely affect Lessorthe Landlord's award or the award of any fee mortgagee.

Appears in 1 contract

Samples: Lease (Northstar Computer Forms Inc/Mn)

CONDEMNATION OR EMINENT DOMAIN. (Aa) If In case of a Taking or the whole commencement of any proceedings or negotiations which might result in any Taking, the Lessee will promptly give notice thereof to the Lessor, generally describing the nature and extent of such Taking which might result therefrom, as the case may be. The Lessee hereby assigns to the Lessor any award or payment on account of any Taking of the Leased Premises are taken by Nuclear Fuel or any public authority under portion thereof which is payable to the power of eminent domain, or by private purchase in lieu thereof, then this Lease Lessee. The Lessor shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate participate fully in any proceedings or negotiations in connection with any such Taking of the Nuclear Fuel or any portion thereof, provided that Lessee shall be entitled to control such proceedings or negotiations as long as no Event of Default shall have occurred and be then continuing. The Lessee will pay all reasonable costs, fees and expenses incurred by the Lessor in connection with any Taking of the Nuclear Fuel or any portion thereof and seeking and obtaining any award or payment on account thereof. (b) In the case of any Taking, (i) the provisions of this Lease on thirty shall remain in effect, except as expressly provided below in this Section 19, without any abatement or reduction of Basic Rent, Additional Rent, Advance Rent or any other sum payable hereunder, and (30ii) days notice to unless the other given Lessee shall have exercised within ninety (90) 90 days after the date happening of such taking. In the event that this Lease shall terminate Taking its right to obtain a release of such Nuclear Fuel or be terminatedportion thereof pursuant to Section 10(b), the Rent shallLessee, whether or not the awards or payments, if any, on account of such Taking shall be sufficient for the purpose, at its cost and as necessaryexpense (without limiting the Lessee’s right to request payment by the Lessor of such expenses provided in Section 6) will promptly commence and will complete (subject to Unavoidable Delays but in any event within 18 months after the happening of such Taking) Restoration of the Nuclear Fuel or the portion thereof affected by such Taking, be paid up unless the Lessee shall have delivered to the day Lessor the certificate described in Section 20(a)(i) hereof within 90 days after the happening of such Taking, provided that possession was surrendered. (B) If any part in the case of a Taking for temporary use the Leased Premises Lessee shall not be so taken required to effect such that it does not materially interfere with the business Restoration until such Taking has terminated. A Taking for temporary use shall mean a requisition of Lessee, then Lessee shall, with the use of the condemnation proceeds Nuclear Fuel, or any portion thereof, which by its terms does not exceed the original term of this Lease or the then current extended term. Upon completion of Restoration, the Lessee shall execute and deliver to be made available the Lessor a Fuel Schedule, shall cause the relevant Manufacturer of the replacement Nuclear Fuel to execute and deliver to the Lessor a Xxxx of Sale substantially in the form of Schedule C, unless the Nuclear Fuel Contract provides for the transfer of title to the Lessor without execution and delivery by Lessorthe relevant Manufacturer of a Xxxx of Sale, but otherwise at Lessee's own cost and expense, restore shall deliver to the remaining Lessor a duly executed Xxxx of Sale substantially in the form of Schedule C hereto describing any portion of the Leased Premises Nuclear Fuel to which the Lessee has title; and the Lessor shall accept such Xxxx or Bills of Sale. As to any condemned or requisitioned (or otherwise taken) Nuclear Fuel originally included on Schedule A, as amended, and replaced by such Restoration, the Lessor shall deliver to the extent necessary to render it reasonably suitable for Lessee a Fuel Schedule and a Xxxx of Sale substantially in the purposes form of Schedule E hereto. (c) If no Event of Default shall have occurred and be then continuing, all awards and payments received by the Lessor on account of any Taking of the Nuclear Fuel or any portion thereof (less the actual costs, fees and expenses incurred in the collection thereof, for which it was leased. Lessee the Person incurring the same shall make all repairs be reimbursed from such awards or payments) shall be paid over to the building in which Collateral Account and, at the Leased Premises is located Lessee’s option, credited against the purchase price of Nuclear Fuel released pursuant to Sections 10(b) and 19(b) or paid to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope Lessee in reimbursement of the work required to be done cost of Restoration, as contemplated by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability Section 19(b). (d) For purposes of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation awardthis Lease, all amounts paid pursuant to be done without any adjustments agreement with any condemning authority which has been made in Rent to be paid by Lessee. This lease connection with any Taking shall be deemed amended to reflect the taking in the legal description constitute an award on account of the Leased Premisessuch Taking. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.

Appears in 1 contract

Samples: Fuel Lease (Entergy New Orleans, LLC)

CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator architect reasonably approved by Lessor and Lessee, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, be paid up to the day that possession was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not materially interfere with the business of Lessee, then Lessee shall, with the use of the condemnation proceeds to be made available by Lessor, but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premises. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.

Appears in 1 contract

Samples: Net Lease Agreement (Aei Real Estate Fund Xviii Limited Partnership)

CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, be paid up to the day that possession was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not materially interfere with the business of LesseeLessee (as determined pursuant to paragraph (A) above), then Lessee shall, with the use of the condemnation proceeds to which shall be made available by Lessor, but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee at Lessor's expense (subject to limitation as set forth below) shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building at least a complete architectural unitunit and substantially similar to the condition prior to such taking. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premises. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor (subject to paragraph (B) above) without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased, provided all such award shall be made available for restoration as provided in Article 12 (B) above. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgageemortgagee subject to paragraph 12(B) and Article 11 above.

Appears in 1 contract

Samples: Net Lease Agreement (Aei Net Lease Income & Growth Fund Xix Limited Partnership)

CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or transferred to such public authority under threat of such power, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably contractor or architect selected by Lessee and approved by Lessor and LesseeLessor, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other Lessor given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, shall be paid up to the day that possession was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not render the remainder thereof materially interfere with unusable for the business purposes for which the Leased Premises were leased, in the opinion of Lesseea licensed third party contractor or architect selected by Lessee and approved by Lessor, then Lessee shall, with the use of all of the condemnation proceeds (to be made available by Lessor, immediately if such proceeds are less than $150,000, or if in excess of $150,000, under a commercially reasonable construction draw procedure in payment of invoices for work performed submitted by Lessee or its contractors) but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Provided, however, Lessee may elect to replace the Leased Premises with a different restaurant concept, subject to Lessor's prior written approval, which approval shall not be unreasonably withheld or delayed, and further that Lessee shall not be required (unless Lessee so elects) to repair or restore the Leased Premises if the Term or any Renewal Term shall expire within two years of such partial taking. Lessee shall notify Lessor of Lessee's election to not so restore or repair the Leased Premises after such a partial taking within 60 days after service on Lessee of the eminent domain proceeding for such taking. If Lessee elects to not make such repair or restoration, this Lease shall terminate upon Lessor's receipt of Lessee's notice of termination. Otherwise, if Lessee so elects or is required to repair or restore the Leased Premises, Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. Except as provided in Section 12C, any condemnation proceeds remaining after the completion of the repair or restoration of the Leased Premises shall be paid to Lessor. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premises. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority (or Lessor if the award to Lessor expressly covers any of the following items and Lessee shall be precluded from prosecuting its claim directly against the condemning authority) in such proceedings for: Loss of business; interruption of business; moving expenses; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee, except to the extent the award thereto expressly covers Lessee's award for: Loss of business; interruption of business; moving expenses; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee.

Appears in 1 contract

Samples: Net Lease Agreement (Aei Income & Growth Fund 25 LLC)

CONDEMNATION OR EMINENT DOMAIN. (A) If Lessee receives any notice of Condemnation or becomes aware of any threatened Condemnation affecting the whole Premises or any access thereto, Lessee shall forthwith provide written notice of the Leased Premises are taken same to Lessor. If a Condemnation (including the taking by any public authority under the power of eminent domain, or by private purchase in lieu thereof) shall affect all or a substantial portion of the Premises and shall render the Premises unsuitable for restoration for continued use and occupancy in Lessee's business or causes a loss of child care license capacity of 20% or more, then this Lease shall automatically terminate upon Lessee may, not later than 60 days after possession of the date possession is surrendered, and Rent shall be paid up to that day. If Premises or any part thereof must be delivered with respect to such Condemnation, deliver to Lessor (i) notice of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right its intention to terminate this Lease on thirty (30) days notice to the other given within ninety (90) next rental payment date which occurs not less than 60 days after the date delivery of such taking. In notice (the "Condemnation Termination Date"), (ii) a certificate of an authorized officer of Lessee describing the event giving rise to such termination and stating that Lessee has determined that such Condemnation has rendered the Premises unsuitable for restoration for continued use and occupancy in Lessee's business or that a loss of child care license capacity of 20% has occurred, and (iii) if the Condemnation Termination Date occurs during the Term, an irrevocable rejectable offer by Lessee to Lessor to purchase on the Condemnation Termination Date any remaining portion of the Premises and the Net Proceeds, if any, payable in connection with such Condemnation (or the right to receive the same when made, if payment thereof has not yet been made), at the price set forth on Exhibit 12(A) (the "Buyout Price"); provided that if the Condemnation Termination Date occurs during any Renewal Term, this Lease shall terminate on the Condemnation Termination Date, except with respect to obligations and liabilities of Lessee hereunder, which have arisen prior to the Condemnation Termination Date, and the Net Proceeds shall belong to Lessor. If items (i), (ii) and (iii) have been sent and the Condemnation Termination Date occurs during the original fifteen (15) year Term, Lessor shall elect either (x) to accept said offer and to convey to Lessee or its designee the remaining portion of the Premises, if any, and there shall be assigned to Lessee or its designee all of the Net Proceeds (as defined herein) or (y) to reject said offer and agree that this Lease shall terminate or be terminatedon the Condemnation Termination Date, the Rent shall, if except with respect to obligations and as necessary, be paid up liabilities of Lessee hereunder which have arisen prior to the day that possession was surrendered. (B) If any part Condemnation Termination Date, and the Net Proceeds shall belong to Lessor. The acceptance by Lessor of the Leased Premises said offer shall be so taken effective only if given in writing within sixty (60) days after receipt by Lessor of items numerate (i), (ii) and (iii), and only if the Lender (if any), in its sole discretion, provides its written approval of such that it does acceptance within said sixty-day period. If notice of unequivocal acceptance from both Lessor and Lender is not materially interfere with the business of Lesseegiven within said sixty (60) day period, then Lessee shall, with the use of the condemnation proceeds to be made available by Lessor, but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease offer shall be deemed amended to reflect rejected and the taking in the legal description of the Leased Premises. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages Lease shall be awarded as compensation for diminution in value terminated pursuant to the leasehold or this Article. Subsection 15(C) shall govern if this Lease is not terminated based upon Condemnation pursuant to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgageethis subsection 12(A).

Appears in 1 contract

Samples: Net Lease Agreement (Aei Real Estate Fund 85-a LTD Partnership)

CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. Any such termination of this Lease shall not preclude or restrict Lessee's rights to any claim or award for claims it may have as set forth in Article 12, paragraph (C) below. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, be paid up to the day that possession was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not materially interfere with the business of Lessee, then Lessee shall, at Lessor's cost and expense (and Lessor hereby covenants to make condemnation proceeds available to Lessee consistent with the use of the condemnation proceeds to be made available by Lessor, but otherwise at Lessee's own cost and expenseterms hereof), restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. building.. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premises. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises (expressly excluding any Lessee's Award as hereinafter defined) shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises Leased Premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business and or destruction of its business; damage to or loss of value or cost of removal of inventory, trade fixturesTrade Fixtures, furniture, Personalty, and other personal property belonging to Lessee (any and all such award collectively referred to supra and hereinafter as "Lessee's Award"); provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee. Lessor and Lessee agree to cooperate to maximize the amount of any such claim or award and agree to minimize the interference with the other party's prosecution of its claims.

Appears in 1 contract

Samples: Net Lease Agreement (Aei Real Estate Fund 85-a LTD Partnership)

CONDEMNATION OR EMINENT DOMAIN. (Aa) If In case of a Taking or the whole commencement of any proceedings or negotiations which might result in any Taking, the Lessee will promptly give notice thereof to the Lessor, generally describing the nature and extent of such Taking which might result therefrom, as the case may be. The Lessee hereby assigns to the Lessor any award or payment on account of any Taking of the Leased Premises are taken by Nuclear Fuel or any public authority under portion thereof which is payable to the power of eminent domain, or by private purchase in lieu thereof, then this Lease Lessee. The Lessor shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate participate fully in any proceedings or negotiations in connection with any such Taking of the Nuclear Fuel or any portion thereof, provided that Lessee shall be entitled to control such proceedings or negotiations as long as no Event of Default shall have occurred and be then continuing. The Lessee will pay all reasonable costs, fees and expenses incurred by the Lessor in connection with any Taking of the Nuclear Fuel or any portion thereof and seeking and obtaining any award or payment on account thereof. (b) In the case of any Taking, (i) the provisions of this Lease on thirty shall remain in effect, except as expressly provided below in this Section 19, without any abatement or reduction of Basic Rent, Additional Rent, Advance Rent or any other sum payable hereunder, and (30ii) days notice to unless the other given Lessee shall have exercised within ninety (90) 90 days after the date happening of such taking. In the event that this Lease shall terminate Taking its right to obtain a release of such Nuclear Fuel or be terminatedportion thereof pursuant to Section 10(b), the Rent shallLessee, whether or not the awards or payments, if any, on account of such Taking shall be sufficient for the purpose, at its cost and as necessaryexpense (without limiting the Lessee’s right to request payment by the Lessor of such expenses provided in Section 6) will promptly commence and will complete (subject to Unavoidable Delays but in any event within 18 months after the happening of such Taking) Restoration of the Nuclear Fuel or the portion thereof affected by such Taking, be paid up unless the Lessee shall have delivered to the day Lessor the certificate described in Section 20(a)(i) hereof within 90 days after the happening of such Taking, provided that possession was surrendered. (B) If any part in the case of a Taking for temporary use the Leased Premises Lessee shall not be so taken required to effect such that it does not materially interfere with the business Restoration until such Taking has terminated. A Taking for temporary use shall mean a requisition of Lessee, then Lessee shall, with the use of the condemnation proceeds Nuclear Fuel, or any portion thereof, which by its terms does not exceed the original term of this Lease or the then current extended term. Upon completion of Restoration, the Lessee shall execute and deliver to be made available the Lessor a Fuel Schedule, shall cause the relevant Manufacturer of the replacement Nuclear Fuel to execute and deliver to the Lessor a Xxxx of Sale substantially in the form of Schedule C, unless the Nuclear Fuel Contract provides for the transfer of title to the Lessor without execution and delivery by Lessorthe appropriate Manufacturer of a Xxxx of Sale, but otherwise at Lessee's own cost and expense, restore shall deliver to the remaining Lessor a duly executed Xxxx of Sale substantially in the form of Schedule C hereto describing any portion of the Leased Premises Nuclear Fuel to which the Lessee has title; and the Lessor shall accept such Xxxx or Bills of Sale. As to any condemned or requisitioned (or otherwise taken) Nuclear Fuel originally included on Schedule A, as amended, and replaced by such Restoration, the Lessor shall deliver to the extent necessary to render it reasonably suitable for Lessee a Fuel Schedule and a Xxxx of Sale substantially in the purposes form of Schedule E hereto. (c) If no Event of Default shall have occurred and be then continuing, all awards and payments received by the Lessor on account of any Taking of the Nuclear Fuel or any portion thereof (less the actual costs, fees and expenses incurred in the collection thereof, for which it was leased. Lessee the Person incurring the same shall make all repairs be reimbursed from such awards or payments) shall be paid to the building in which Collateral Account and, at the Leased Premises is located Lessee’s option, credited against the purchase price of Nuclear Fuel released pursuant to Sections 10(b) and 19(b) or paid to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope Lessee in reimbursement of the work required to be done cost of Restoration, as contemplated by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability Section 19(b). (d) For purposes of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation awardthis Lease, all amounts paid pursuant to be done without any adjustments agreement with any condemning authority which has been made in Rent to be paid by Lessee. This lease connection with any Taking shall be deemed amended to reflect the taking in the legal description constitute an award on account of the Leased Premisessuch Taking. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.

Appears in 1 contract

Samples: Fuel Lease (Entergy New Orleans, LLC)

CONDEMNATION OR EMINENT DOMAIN. (A) If the whole Fifty Percent or more of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, or unfit for the purposes for which the Leased Premises were leased, in the opinion of an arbitrator appointed by the American Arbitration Association office closest to the site of the Leased Premises pursuant to its rules and regulations and reasonably approved by Lessor and Lessee (with both parties having a right to a hearing at such office before said arbitrator), then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, be paid up to the day that possession was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not materially interfere with the business of Lessee, then Lessee shall, with the use of the condemnation proceeds to be made available by Lessor, but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premises. (C) All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.

Appears in 1 contract

Samples: Net Lease Agreement (Aei Real Estate Fund 85-a LTD Partnership)

CONDEMNATION OR EMINENT DOMAIN. (A) If the whole of the Leased Premises are taken by any public authority under the power of eminent domain, or by private purchase in lieu thereof, then this Lease shall automatically terminate upon the date possession is surrendered, and Rent shall be paid up to that day. If any part of the Leased Premises shall be so taken as to render the remainder thereof materially unusable in the opinion of a licensed third party arbitrator reasonably approved by Lessor and Lessee, for the purposes for which the Leased Premises were leased, then Lessor and Lessee shall each have the right to terminate this Lease on thirty (30) days notice to the other given within ninety (90) days after the date of such taking. In the event that this Lease shall terminate or be terminated, the Rent shall, if and as necessary, be paid up to the day that possession was surrendered. (B) If any part of the Leased Premises shall be so taken such that it does not materially interfere with the business of Lessee, then Lessee shall, with the use of the condemnation proceeds to be made available by Lessor, but otherwise at Lessee's own cost and expense, restore the remaining portion of the Leased Premises to the extent necessary to render it reasonably suitable for the purposes for which it was leased. Lessee shall make all repairs to the building in which on the Leased Premises is located to the extent necessary to constitute the building a complete architectural unit. Provided, however, that such work shall not exceed the scope of the work required to be done by Lessee in originally constructing such building unless Lessee shall demonstrate to Lessor's reasonable satisfaction the availability of funds to complete such work. Provided, further, the cost thereof to Lessor shall not exceed the proceeds of its condemnation award, all to be done without any adjustments in Rent to be paid by Lessee. This lease shall be deemed amended to reflect the taking in the legal description of the Leased Premises. (CA) Termination of this Lease because of condemnation shall be without prejudice to the rights of either Lessor or Lessee to recover from the condemning authority compensation and damages for the injury or loss sustained by them as a result of the taking. All compensation awarded or paid upon such total or partial taking of the Leased Premises shall belong to and be the property of Lessor without any participation by Lessee, whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises herein leased. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority in such proceedings for: Loss of business; damage to or loss of value or cost of removal of inventory, trade fixtures, furniture, and other personal property belonging to Lessee; provided, however, that no such claim shall diminish or otherwise adversely affect Lessor's award or the award of any fee mortgagee.

Appears in 1 contract

Samples: Net Lease Agreement (Aei Income & Growth Fund 23 LLC)

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