Condemnation or Taking. If, prior to Closing, any Property or ---------------------- any part thereof shall be condemned or taken and such condemnation or taking materially interferes with the existing business use of the Property, the Company and the Partnership may (i) terminate this Agreement either as to all the Properties or solely as to such Property, in the discretion of the Partnership and the Company, or (ii) complete the transactions contemplated by this Agreement notwithstanding such condemnation. If the Company and the Partnership elect to complete the transactions contemplated hereby, the Partnership shall be entitled to receive the condemnation proceeds and the appropriate Seller shall, at Closing and thereafter, execute and deliver to the Partnership and the Company all required assignments of claims and other similar items. If the Partnership and the Company elect to terminate this Agreement, then upon written notice to the Sellers and without further action of the parties, this Agreement shall become null and void and no party shall have any rights or obligations under this Agreement. If the Partnership and the Company elect to terminate this Agreement solely with respect to the affected Property, the Aggregate Purchase Price shall be reduced by the Purchase Price of such Property.
Condemnation or Taking. In the event that the whole of the Premises shall be condemned or taken in any manner for any public or quasi-public use, this Lease and the term and estate hereby granted shall forthwith cease and terminate as of the date of vesting of title. In the event that only a part of the Premises shall be so condemned or taken, then, effective as of the date of vesting of title, the Fixed Rent and any additional rent hereunder for such part shall be equitably abated and this Lease shall continue as to such part not so taken. In the event that only a part of the Building shall be so condemned or taken, then (a) if, in Landlord’s reasonable opinion, substantial structural alteration or reconstruction of the Building shall be necessary or appropriate as a result of such condemnation or taking (whether or not the Premises be affected), Landlord may terminate this Lease and the term and estate hereby granted as of the date of such vesting of title by delivering Notice to Tenant of such termination within thirty (30) days following the date on which Landlord shall have received notification of vesting of title or (b) if Landlord does not elect to terminate this Lease, as aforesaid, this Lease shall be and remain unaffected by such condemnation or taking, except that the rent shall be abated to the extent, if any, hereinbefore provided. In the event that only a part of the Premises shall be so condemned or taken and this Lease and the terms and estate hereby granted are not terminated as hereinbefore provided, Landlord will, at its expense, restore with reasonable diligence the remaining structural portions of the Premises as nearly as practicable to the same condition as it was in prior to such condemnation or taking.
Condemnation or Taking. If, prior to the Closing, the Property or any part thereof shall be condemned or taken and such condemnation or taking materially interferes with the existing business use of the Property, the Company may (a) terminate this Agreement, or (b) complete the transactions contemplated by this Agreement notwithstanding such condemnation. If the Company elects to complete the transactions contemplated hereby, the Company shall be entitled to receive the condemnation proceeds and Owner shall, at the Closing and thereafter, execute and deliver to the Company all required assignments of claims and other similar items. If the Company elects to terminate this Agreement, then upon written notice to Owner and without further action of the parties, this Agreement shall become null and void and no party shall have any rights or obligations under this Agreement.
Condemnation or Taking. If there shall be a taking of all or a material portion of the Leased Property or the reasonable access thereto by federal, state, county, city or other authority for public use, or under any statute, or by right of eminent domain (a “Taking”), then this Lease shall terminate as of the date of the Taking and the rent shall be adjusted as of the date of such termination of this Lease. A Taking of a material portion of the Leased Property shall be deemed to mean a taking of such scope that the untaken portion of the Leased Property is insufficient to permit the restoration of the then existing improvements thereof so as to constitute a complete operating facility of sufficient size to permit Tenant to conduct its business in substantially the same manner as prior to the Taking.
Condemnation or Taking. In the event that the whole of the Demised 5 Premises shall be condemned or taken in any manner for any public or quasi-public use, this Lease 6 and the term and estate hereby granted shall forthwith cease and terminate as of the date of vesting of
Condemnation or Taking. The condemnation, taking, seizure, involuntary conversion or acquisition of title to or use of the Redevelopment Area, or any material portion or part thereof, by the action of any federal, state or local government or governmental agency or authority;
Condemnation or Taking. If, prior to Closing, any Property ---------------------- or any part thereof shall be condemned or taken and such condemnation or taking materially interferes with the existing business use of the Property, the Company and the Partnership may (i) terminate this
(a) with respect to such Property shall be reduced by the Contribution Value ------ of such Property.
Condemnation or Taking. Landlord and Tenant shall cooperate with each other to maximize the amount of any Award. Landlord shall contribute the entire amount of the Award to the cost of restoration. The proceeds of any Award shall be held and distributed in the same manner as provided by Section 15.1 for insurance proceeds. Any remaining balance of such proceeds after such restoration is completed shall be retained by or paid to Landlord.
Condemnation or Taking. If there shall be a taking of all or a portion of the Leased Property by federal, state, county, city or other authority for public use, or under any statute, or by right of eminent domain (a "Taking"), which results in a termination of the Ground Lease, then this Lease shall terminate as of the same date of the termination of the Ground Lease and the rent shall be adjusted as of the date of such termination of this Lease.
Condemnation or Taking. If any part of the Leased Premises is taken by eminent domain or condemnation, Landlord may, at its sole option, terminate the Lease by giving written notice to Tenant within forty-five (45) days after the taking, or if by reason of any such taking, Tenant's operation on the Leased Premises is materially impaired, Tenant shall have the option to terminate this Lease Agreement, by giving written notice to Landlord within forty-five (45) days after the taking. After such taking and as of such date, the rent will be adjusted in proportion to the impairment of the use that Tenant can reasonably make of the balance of the Leased Premises. If the Leased Premises are damaged or if access to the Leased Premises is impaired by reason of such taking and neither Landlord nor Tenant elects to terminate this Lease Agreement, Landlord will promptly rebuild or repair the damage to the extent possible within the limitations of the available condemnation awards. All condemnation awards belong to Landlord, except that specifically awarded to Tenant for its separate property and fixtures.
