Common use of Condemnation or Taking Clause in Contracts

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. In If, prior to the event that Closing, the whole of the Premises Property or any part thereof shall be condemned or taken in taken, or if any manner for proceedings that shall relate to the proposed taking of all or any public portion of the Property by condemnation or quasi-public useeminent domain are instituted or commenced, and such condemnation or proceedings does not constitute a Material Taking, Closing on the Property shall occur pursuant to this Lease Section 13.2 and the term other terms and estate hereby granted conditions of this Agreement. If, prior to the Closing, the Property or any part thereof shall forthwith cease be condemned or taken, or if any proceedings that shall relate to the proposed taking of all or any portion of the Property by condemnation or eminent domain are instituted or commenced, and such condemnation or proceedings does constitute a Material Taking, Purchaser may (a) terminate this Agreement, or (b) complete the transactions contemplated by this Agreement notwithstanding such condemnation. If Purchaser elects to complete the transactions contemplated hereby, Purchaser shall accept the Property in the condition in which it is left following such condemnation or other taking. In the event Purchaser does not so elect to terminate or is not permitted to terminate, as above provided, then all awards (but only with respect to the Property and not any Retained Lots) arising out of such proceedings shall be assigned to Purchaser as of the date of vesting of title. In Closing or credited to Purchaser if previously received by Seller, and Seller hereby agrees to execute any separate assignment agreement, as Purchaser may reasonably request, to evidence or effectuate 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 assignment 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 awards. If Purchaser elects to terminate this LeaseAgreement, as aforesaidthen upon written notice to Seller and without further action of the parties, this Lease Agreement shall be and remain unaffected by such condemnation or takingterminated, except that the rent Initial Non-Refundable Portion shall be abated delivered to Seller together with the extentInitial Adjournment Deposit and Second Adjournment Deposit, if any, hereinbefore provided. In and the event that only a part balance of the Premises Deposit shall be so condemned returned to Purchaser, and no party shall have any further rights or taken and obligations under this Lease and Agreement except for 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 takingSurviving Obligations.

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 '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. In the event that the whole of the Premises shall be condemned taking or taken in condemnation of the entire leased premises or a substantial part thereof by any manner governmental authority, federal, state, parish, city, or other authority ("Governmental Authority") for any public or quasi-public use, or under any statute or by right of eminent domain for a period in excess of one hundred twenty (120) days, this Lease and the term and estate hereby granted lease shall forthwith cease and terminate as of the date of vesting the taking of titlepossession of the leased premises by such authority as though such date were the date otherwise fixed for the termination hereof, and any rent owing to such date shall be paid in frill. In If the event that only entire leased premises are taken or condemned by a Governmental Authority as aforesaid for a period of less than one hundred twenty (120) days, or if any part of the Premises leased premises less than a substantial part is taken or condemned, Lessor shall be so condemned or taken, then, effective as of have 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 option but not the Premises be affected)obligation, Landlord may to terminate this Lease and the term and estate hereby granted as of the date of such vesting of title lease by delivering Notice notice to Tenant of such termination Lessee given within thirty (30) days following after the date of such taking or condemnation, and, in such event, this lease shall come to an end on which Landlord the date of the taking of possession by the condemnor as though such date were the date otherwise fixed for termination hereof, and any rent owing to such date shall have received notification of vesting of title or (b) if Landlord be paid in full. If Lessor does not elect exercise its option to terminate this Lease, lease as aforesaid, then this Lease lease shall remain in full force and effect. Lessee shall be and remain unaffected by entitled to a remission of rent for any period during which the leased premises are wholly unfit for occupancy as a result of such condemnation taking or takingcondemnation, except that and, in the event of a partial taking for a period in excess of one hundred twenty (120) days, Lessee's rent shall be abated reduced in the proportion that the area taken or condemned bears to the extent, if any, hereinbefore providedtotal square footage of the leased premises prior to such taking. In the event of any taking or condemnation whatsoever, Lessee shall not be entitled to any part of any award that only a may be made for such taking or for any damages arising therefrom, and Lessee shall have no claim whatsoever against Lessor or the Governmental Authority for Lessee's leasehold interest or otherwise arising or resulting in any way from such taking. All compensation awarded upon or by reason of such taking or condemnation shall belong and be paid to Lessor, and Lessee hereby irrevocably assigns and transfers to Lessor any and all right to compensation or damages to which Lessee may be or become entitled during the term of this Lease by reason of the taking or condemnation of all or any 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 takingleased premises.