Common use of Condemnation Clause in Contracts

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 10 contracts

Samples: Standard Lease Agreement (Sirena Apparel Group Inc), Parking Agreement (International Remote Imaging Systems Inc /De/), Lease Agreement (I O Magic Corp)

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Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee’s Reserved Parking Spaces, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 9 contracts

Samples: Lease (Organogenesis Holdings Inc.), Sublease Agreement (AltheaDx, Inc.), Sublease Agreement (AltheaDx, Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisespremises, or more than twenty-five percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 9 contracts

Samples: Lease Agreement (Consolidated Capital of North America Inc), Arbitration Agreement (Digital Entertainment Network Inc), Veterinary Centers of America Inc

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 8 contracts

Samples: Lease Extension Agreement (Alphatec Holdings, Inc.), Remec Inc, Cii Financial Inc

Condemnation. (a) If there shall be a total taking of the Demised Premises in condemnation proceedings or by any portion thereof are taken under the power right of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")domain, this Lease lease and the term and estate hereby granted shall terminate as to the part taken as of the date of taking of possession by the condemning authority takes title or possession, whichever first occursand all Rent shall be prorated and paid as of such termination date. If more than ten percent (10%) there shall be a taking of any building material (in Landlord’s reasonable judgment) portion of the Land or the Demised Premises, or more than twenty-five percent (25%) of then Landlord may terminate this lease and the land area portion of the Premises not occupied term and estate granted hereby by any building, is taken by Condemnation, Lessee may, at Lessee's option, giving notice to be exercised in writing Tenant within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 60 days after the date of taking of possession by the condemning authority authority. If there shall have taken possessionbe a taking of the Demised Premises of such scope (but in no event less than 20% thereof) that the untaken part of the Demised Premises would in Tenant’s reasonable judgment be uneconomic to operate, then Tenant may terminate this Lease lease and the term and estate granted hereby by giving notice to Landlord within 60 days after the date of taking of possession by the condemning authority. If either Landlord or Tenant shall give a termination notice as aforesaid, then this lease and the term and estate granted hereby shall terminate as of the date the condemning authority takes of such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force notice and effect as to the portion of the Premises remaining, except that the Base all Rent shall be reduced in proportion to the reduction in utility prorated and paid as of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefortermination date. In the event that this Lease is not terminated by reason of a taking of the Condemnation, Lessor shall repair any damage to Demised Premises which does not result in the Premises caused by such Condemnation.termination of this lease:

Appears in 8 contracts

Samples: Lease (1847 Goedeker Inc.), Lease (1847 Goedeker Inc.), Lease (1847 Goedeker Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisespremises, or more than twenty-five percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 8 contracts

Samples: Sugarmade, Inc., Diversified Opportunities, Inc., Sublease Agreement (Andromedia Inc)

Condemnation. If In the event that State is unable to successfully contest the authority of any entity seeking to condemn the Premises or any portion thereof and if the entirety of the Premises are taken under by proper exercise of the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")domain, this Lease shall terminate as of the date possession was taken by said public authority pursuant to such condemnation. If any part of the Premises is so taken and, in the opinion of either State or Lessee, it is not economically feasible to continue this Lease, either party may terminate the lease. Such termination by either party shall be made by notice to the part taken other party given not later than thirty (30) days after possession is so taken, the termination to be effective as of the later of thirty (30) days after said notice or the date the condemning authority takes title or possession, whichever first occurspossession is so taken. If more than ten percent (10%) part of the Premises is so taken and neither State nor Lessee elects to terminate this Lease, or until termination is effective, as the case may be, the payment due under this Lease shall be abated in the same proportion as the portion of the Premises so taken bears to the whole of the Premises. All damages awarded for the taking or damaging of all or any building portion part of the Premises, or more than twentyState-five percent (25%) of the land area portion of the Premises not occupied by any buildingowned improvements thereon, is taken by Condemnation, Lessee may, at Lessee's option, shall belong to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be become the property of LessorState, whether and Lessee hereby disclaims and assigns to State any and all claims to such award shall be made as compensation for diminution in value of the leaseholdaward, the value of the part taken, or for severance damages; provided, however, that State will not claim any interest in any award for personal property or authorized improvements belonging to Lessee shall be entitled to as set forth in Section 3 and State will not claim a share of any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations award made to the Premises by Lessee, Lessee for purposes interruption of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any or damage to Lessee’s business or for moving expenses. The State may share in the Premises caused by such Condemnationvalue of crops in accordance with the crop division and/or additional payment set forth in Section 1.07.

Appears in 7 contracts

Samples: Dryland Cash Lease, Dryland Cash Lease, Dryland Cash Lease

Condemnation. If the whole or any part of the Premises or any improvements thereon shall be taken or condemned by any competent authority for any public use or purpose during the term of this Lease, Tenant shall receive any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")any award allocable to crops on trees, this Lease shall terminate as its capital improvements, including orchards, to the part taken as cost or loss that Tenant may sustain in the removal and relocation of Tenant’s trade fixtures and other personal property, to Tenant’s anticipated or lost profits or damages because of detriment to Tenant’s business and to the date value of Tenant’s leasehold interest. Tenant reserves the condemning authority takes title right to claim and prosecute its claim in all appropriate courts and agencies for an award or possession, whichever first occurs. If more than ten percent (10%) damages based upon the foregoing without impairing any rights of any building portion Owner for the taking of or injury to its interest in the Premises, or more than twenty-five percent (25%) . The entire award for the fair market value of the land area portion taken shall be paid to Owner. No compromise or settlement shall be made of any condemnation award without the consent of, Owner, Tenant and any Mortgagee. If a part of the Premises not occupied by any buildingis taken or condemned which, in the sole judgment of Tenant, is taken by Condemnationsufficient to render the remaining portion unsuitable for continued use or occupancy, Lessee may, at Lessee's option, to be exercised in writing then Tenant may within ten sixty (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (1060) days after the date when possession of the Premises or portion thereof shall be required by the condemning authority shall have taken possession) authority, elect to terminate this Lease as of Lease. In the date the condemning authority takes such possession. If Lessee does not event that Tenant shall fail to exercise its option to terminate this Lease in accordance with the foregoingLease, then this Lease shall remain continue in full force and effect as with respect to the portion of the Premises remainingnot so taken, except that the Base Rent rent otherwise payable shall be reduced in proportion to the reduction percentage of planted acreage in utility of the Premises caused taken by such Condemnationthe condemning authority. Condemnation awards and/or payments If no planted acreage is taken then the rent shall not be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated reduced by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnationtaking.

Appears in 6 contracts

Samples: Agricultural Land Lease (Limoneira CO), Agricultural Land Lease (Limoneira CO), Agricultural Land Lease (Limoneira CO)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for LesseeXxxxxx's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by LesseeXxxxxx, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 5 contracts

Samples: Multi Tenant Office Lease (America Great Health), Multi Tenant Office Lease (America Great Health), Multi Tenant Office Lease (America Great Health)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain domain, or sold under the threat of the exercise of said such power (collectively "CONDEMNATION"all of which are herein called “Condemnation”), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or if more than twenty-five percent (25%) of the land floor area portion of the improvements on the Premises not occupied by any building, is taken by Condemnation, Lessee Lessor may, subject to the terms of any mortgage upon the Premises, at Lessee's Lessor’s option, to be exercised in writing only within ten thirty (1030) days after Lessor shall have given Lessee written notice of such taking (or or, in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee Lessor does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in the proportion that the floor area taken bears to the reduction in utility total floor area of the building situated on the Premises. Any award for the taking of all or any part of the Premises caused by under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, leasehold or for the value taking of the part taken, fee or for as severance damages; provided, however, that Lessee shall be entitled to any compensation award for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard or damage to whether Lessee’s trade fixtures or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforremovable personal property. In the event that this Lease is not terminated by reason of the such Condemnation, Lessor shall shall, to the extent of severance damages receive by Lessor in connection with such Condemnation, repair any damage to the Premises caused by such CondemnationCondemnation except to the extent that Lessee has been reimbursed therefor by the condemning authority. Lessee shall pay any amount in excess of such severance damages required to complete such repair.

Appears in 5 contracts

Samples: Lease Agreement (Constar Inc), Lease Agreement (Constar International Inc), Lease Agreement (Constar Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the PremisesBuilding, or more than twenty-five percent (25%) % of the land area that portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 5 contracts

Samples: Wesco Aircraft Holdings, Inc, Wesco Aircraft Holdings, Inc, Wesco Aircraft Holdings, Inc

Condemnation. 15.1 TOTAL TAKING OR OTHER TAKING WITH EITHER LEASED PROPERTY RENDERED UNSUITABLE FOR ITS PRIMARY INTENDED USE. If title to the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat fee of the exercise whole of said power (collectively "CONDEMNATION")a Leased Property is Taken, this Lease shall cease and terminate as to the part taken Leased Property Taken as of the date Date of Taking by the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to Condemnor and Rent shall be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease apportioned as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoingtermination date, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee if the Award to Lessor is less than the Repurchase Price for such Leased Property at the time of such Award, it shall be entitled a condition precedent to the termination of this Lease as to such Leased Property that Lessee pay the amount of the deficiency to Lessor. If title to the fee of less than the whole of a Leased Property is Taken, but such Leased Property is thereby rendered Unsuitable for Its Primary Intended Use, Lessee and Lessor shall each have the option by written Notice to the other, at any compensation for Lessee's relocation expensestime prior to the taking of possession by, loss or the date of business goodwill and/or Trade Fixturesvesting of title in, without regard the Condemnor, whichever first occurs, to whether terminate this Lease with respect to such Leased Property as of the date so determined, in which event this Lease shall thereupon so cease and terminate as of the earlier of the date specified in such Notice or not the date on which possession is taken by the Condemnor. If this Lease is so terminated pursuant as to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lesseea Leased Property, for purposes of Condemnation only, Rent shall be considered the property apportioned as of the Lessee termination date, and Lessee shall be entitled deemed to any and all compensation which is payable have elected to purchase such Leased Property for the Repurchase Price therefor. In Lessee shall complete the event that this Lease is not terminated by reason purchase within forty-five (45) days of the CondemnationTaking, Lessor and Lessee shall repair receive credit against such Repurchase Price for any damage to portion of the Premises caused Award received by such CondemnationLessor.

Appears in 4 contracts

Samples: Agreement of Purchase and Sale (Williams Companies Inc), Master Lease (Williams Companies Inc), Master Lease (Williams Communications Group Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the PremisesBuilding, or more than twenty-five percent (25%) % of the land area that portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 4 contracts

Samples: Asset Purchase Agreement (Item 9 Labs Corp.), printableleaseagreement.org, www.speedytemplate.com

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the PremisesBuilding, or more than twenty-five percent (25%) % of the land area that portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 4 contracts

Samples: Work Agreement (Glass House Brands Inc.), Hancock Jaffe Laboratories, Inc., AutoGenomics, Inc.

Condemnation. (a) If there shall be a total taking of the Premises Building in condemnation proceedings or by any portion thereof are taken under the power right of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")domain, this Lease and the term and estate hereby granted shall terminate as to the part taken as of the date of taking of possession by the condemning authority takes title or possession, whichever first occursand all Rent shall be prorated and paid as of such termination date. If more than ten percent (10%) there shall be a taking of any building material (in Landlord’s reasonable judgment) portion of the PremisesLand or the Building (whether or not the Premises are affected by such taking), or more than twenty-five percent (25%) then Landlord may terminate this Lease and the term and estate granted hereby by giving notice to Tenant within 60 days after the date of taking of possession by the condemning authority. If there shall be a taking of the land area Premises of such scope (but in no event less than 20% thereof) that the untaken part of the Premises would in Tenant’s reasonable judgment be uneconomic to operate, then Tenant may terminate this Lease and the term and estate granted hereby by giving notice to Landlord within 60 days after the date of taking of possession by the condemning authority. If either Landlord or Tenant shall give a termination notice as aforesaid, then this Lease and the term and estate granted hereby shall terminate as of the date of such notice and all Rent shall be prorated and paid as of such termination date. In the event of a taking of the Premises which does not result in the termination of this Lease (i) the term and estate hereby granted with respect to the taken part of the Premises shall terminate as of the date of taking of possession by the condemning authority and all Rent shall be appropriately abated for the period from such date to the Expiration Date and (ii) Landlord shall with reasonable diligence restore the remaining portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, (exclusive of Tenant’s Property) as nearly as practicable to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of its condition prior to such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnationtaking.

Appears in 4 contracts

Samples: Lease (FaceBank Group, Inc.), Lease (Y-mAbs Therapeutics, Inc.), Lease (Y-mAbs Therapeutics, Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee's Reserved Parking Spaces, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 4 contracts

Samples: Agreement (Amistar Corp), Essxsport Corp, Essxsport Corp

Condemnation. If between the Premises or Effective Date and Closing any portion thereof are of the Property is taken under or is made subject to condemnation, eminent domain or other governmental or quasi-governmental acquisition proceedings, then the power following provisions shall apply. In the event Seller receives a written notice from any governmental or quasi-governmental authority with powers of eminent domain to the effect that a condemnation of any portion or sold under the threat all of the exercise Property is pending or contemplated, Seller shall notify Buyer within five (5) days of said power (collectively "CONDEMNATION")the receipt of such notice. If the proposed or pending condemnation is one that could be reasonably expected to render the Property not usable for the Intended Use, this Lease shall terminate as including, without limitation, reductions in parking requirements, floor-area ratio requirements and impervious surface area requirements, or affect access to the part taken as of the date the condemning authority takes title Property from a dedicated public street or possessionroadway, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee then Buyer may, at Lessee's option, to be exercised in writing within ten five (105) days after Lessor shall have given Lessee written notice of such taking (or in the absence receipt of such notice, within ten (10) days after the condemning authority cancel this Agreement and this Agreement shall terminate, whereupon neither party shall have taken possession) any further rights or obligations under this Agreement. In the event that Buyer shall not elect to terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate Agreement, then this Lease in accordance with the foregoing, this Lease Agreement shall remain in full force and effect as to the portion of the Premises remainingeffect, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee and Seller shall be entitled to any compensation for Lessee's relocation expensesall monies received or collected by Seller by reason of such condemnation prior to Closing. In such event, loss the transaction contemplated by this Agreement shall close in accordance with the terms and conditions of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant Agreement except that there will be a decrease in the Purchase Price equal to the provisions amount of this Paragraph. All Alterations and Utility Installations made the award or proceeds paid to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled Seller at or prior to any and all compensation which is payable therefor. In the event that this Lease is not terminated Closing by reason of the Condemnationcondemnation. If, Lessor however, Seller has not received any proceeds by reason of such condemnation prior to Closing and if Buyer does not elect to terminate this Agreement as aforesaid, then the Closing shall repair take place as herein provided without decrease in the Purchase Price, and Seller shall assign and transfer to Buyer at the Closing by written instrument all of Seller’s right, title and interest in any damage to the Premises caused by such Condemnationcondemnation awards.

Appears in 4 contracts

Samples: Agreement for Purchase and Sale (Park National Corp /Oh/), Agreement for Purchase and Sale (Park National Corp /Oh/), Agreement for Purchase and Sale (Park National Corp /Oh/)

Condemnation. (a) If the Premises whole, or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied shall be taken by any buildingpublic, is taken or quasi-public authority under any statute or by Condemnationpower or right of eminent domain, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor the Term shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion cease on that part of the Premises remainingso taken or conveyed (hereinafter referred to as the "Condemned Portion") from the day the possession of the Condemned Portion shall be taken by the condemning authority. Unless this Lease is cancelled as hereinafter provided, except that the Fixed Base Rent provided for herein commencing with the date possession is acquired by the condemning authority, shall be reduced in proportion to the reduction in utility amount of the Premises caused taken. If less than the entire Premises shall be taken by such Condemnation. Condemnation awards and/or payments shall be condemning authority, and in the property of Lessorevent, whether such award shall be made as compensation for diminution and only in value the event, that the remainder of the leaseholdPremises not so taken is not, in Landlord's judgment, reasonably fit or suited to being used by Tenant to enable Tenant to discharge and satisfy the value of purposes for which the part takenPremises are leased hereunder to Tenant and to carry on its business therein, or for severance damages; providedTenant, howeverprovided that Tenant is not in default under this Lease, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not may in such event terminate this Lease is terminated pursuant as to the provisions remainder of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes giving written notice to Landlord not later than fifteen (15) days after the vesting of Condemnation only, title in the condemning authority or the date possession of the Condemned Portion shall be considered taken by the property condemning authority, whichever shall first occur, specifying as the date of termination a date not later than thirty (30) days after the giving of such notice. Upon the date specified in such notice, the Term and all right, title, and interest of Tenant hereunder shall cease and come to an end, provided Tenant is not in default under this Lease on such date, and Fixed Base Rent, Percentage Rent and other charges shall be apportioned as of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason date of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnationtermination.

Appears in 4 contracts

Samples: Lease Agreement (Dominion Homes Inc), Lease Agreement (Dominion Homes Inc), Lease Agreement (Dominion Homes Inc)

Condemnation. If The risk of any loss or damage to the Premises Property by condemnation before the Closing shall continue to be borne by Seller. In the event any condemnation proceeding is commenced or threatened, Seller shall promptly give Buyer written notice thereof (in any portion thereof are taken under event within five (5) days after Seller first has knowledge of the power occurrence of same), together with such reasonable details with respect thereto as to which Seller may have knowledge. If, prior to Closing, there is a material taking by eminent domain or sold under at the threat Property, this Agreement shall become null and void at Buyer’s option, and upon receipt by Seller of the exercise written notice of said power (collectively "CONDEMNATION")an election by Buyer to treat this Agreement as null and void, this Lease Agreement shall terminate as be deemed null and void. If Buyer elects to proceed and to consummate the part taken as purchase despite said material taking, or if there is less than a material taking prior to Closing, there shall be no reduction in or abatement of the date Purchase Price and Buyer shall be required to purchase the condemning authority takes Property in accordance with the terms of this Agreement, and Seller shall assign to Buyer, without representation of warranty by or recourse against Seller, all of Seller’s right, title and interest in and to any award made or possessionto be made in the condemnation proceeding (in which event Buyer shall have the right to participate in the adjustment and settlement of any insurance claim relating to said damage). For the purpose of this Section 12.17, whichever first occurs. If more than the term “material” shall mean any taking of in excess of five percent (5%) of the square footage of the Property or ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance Real Property associated with the foregoingProperty. The parties’ obligations, if any, under this Lease Section 12.17 shall remain in full force and effect as to survive the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, expiration or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions termination of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such CondemnationAgreement.

Appears in 4 contracts

Samples: Purchase and Sale Agreement (Sentio Healthcare Properties Inc), Purchase and Sale Agreement (Cornerstone Healthcare Plus Reit, Inc.), Purchase and Sale Agreement (Cornerstone Growth & Income REIT, Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after aGer Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after aGer the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 4 contracts

Samples: walnutcreek.granicus.com, www.aircre.com, aircre.com

Condemnation. If Landlord shall have the right to terminate this Lease if any part of the Premises or any portion thereof are substantial part of the Property (whether or not it includes the Building or the Premises) is taken under by exercise of the power of eminent domain before the Commencement Date or sold under during the threat Term. Tenant shall have the right to terminate this Lease if a substantial portion of the Premises is taken by exercise of said the power of eminent domain before the Commencement Date or during the Term and the remaining portion of the Premises is not reasonably suitable for Tenant’s purposes. In each such case, Landlord or Tenant shall exercise such termination right by giving written notice to the other within thirty (collectively "CONDEMNATION")30) days after the date of such taking. If either Landlord or Tenant exercises such right to terminate this Lease in accordance with this section 12.1, this Lease shall terminate as of the date of such taking. If neither Landlord nor Tenant exercises such right to terminate this Lease in accordance with this section 12.1, this Lease shall terminate as to the part portion of the Premises so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease and shall remain in full force and effect as to the portion of the Premises remainingnot so taken, except that and the Base Rent shall be reduced as of the date of such taking in the proportion to that the reduction in utility area of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be so taken bears to the property of Lessor, whether such award shall be made as compensation for diminution in value total area of the leasehold, the value Premises. If all of the part takenPremises are taken by exercise of the power of eminent domain before the Commencement Date or during the Term, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property terminate as of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefordate of such taking. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.BE 543 154 EUL Final 120511 SAA2 – 402658

Appears in 4 contracts

Samples: Lease (Bloom Energy Corp), Lease (Bloom Energy Corp), Lease (Bloom Energy Corp)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 3 contracts

Samples: Masimo Corp, Dolby Laboratories, Inc., Dolby Laboratories, Inc.

Condemnation. If In the event that all or any portion of the Premises shall be damaged or taken through condemnation (which term shall include any damage or taking by any governmental authority, quasi-governmental authority, any party having the power of condemnation, or any transfer by private sale in lieu thereof), or any such condemnation shall be threatened, Borrower shall give prompt written notice to Lender. Lender acknowledges that Owner’s rights to any condemnation award is subject to the terms of the Mortgage. Notwithstanding the foregoing, Borrower may not and shall not permit Owner to settle or compromise any claim, action or proceeding relating to such damage or condemnation without the prior written consent of Lender, which shall not be unreasonably withheld, delayed or denied; provided, further, that Owner may settle, adjust and compromise any such claim, action or proceeding which is of an amount less than $250,000 provided no Event of Default has occurred. Any proceeds remaining after the application of any award to reconstruct or repair the Premises or any portion thereof are taken under to the power of eminent domain or sold under the threat payment of the exercise of said power (collectively "CONDEMNATION"), this Lease Mortgage Loan shall terminate as be paid to Lender and applied to the part taken as payment of the date Debt whether or not then due. In the condemning authority takes title event that Owner is permitted pursuant to the terms of the Mortgage to reconstruct, restore or possession, whichever first occurs. If more than ten percent (10%) repair the Premises following a condemnation of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of Borrower shall cause Owner to promptly and diligently repair and restore the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, manner and within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of time periods required by the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leaseholdMortgage, the value of Leases and any other agreements affecting the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforPremises. In the event that this Lease Owner is not terminated by reason permitted pursuant to the terms of the CondemnationMortgage to elect not to reconstruct, Lessor shall restore or repair any damage to the Premises caused by such Condemnationfollowing a condemnation of any portion of the Premises, Borrower shall not permit Owner to elect not to reconstruct, restore or repair the Premises without the prior written consent of Lender.

Appears in 3 contracts

Samples: Loan and Security Agreement (Morgans Hotel Group Co.), Loan and Security Agreement (Morgans Hotel Group Co.), Loan and Security Agreement (Morgans Hotel Group Co.)

Condemnation. If there shall be taken during the Lease Term any part of the Leased Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")Building, this Lease shall terminate as Lessor may elect to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate or to continue this Lease in accordance with effect. If Lessor elects to continue the foregoingLease, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility area of the Leased Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations so taken and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the remainder of the Leased Premises caused or the Building resulting from such taking, but in no event shall Lessor be required to spend thereon more than the amount of the award received by Lessor by reason of such Condemnationtaking and allocable thereto. All sums awarded or agreed upon between Lessor and the condemning authority for the taking of the interest of Lessor or Lessee, whether as damages or as compensation, shall be the property of Lessor. If, following any such condemnation, Lessee reasonably determines that the portion of the Leased Premises or the Building remaining after such condemnation is not sufficient to enable Lessee to continue the normal operation of its business as then conducted in the Leased Premises, Lessee shall have the right to terminate this Lease by giving written notice of termination to Lessor within thirty (30) days after Lessee receives notice of such condemnation, which notice shall be effective to terminate this Lease upon the date on which physical possession of the Leased Premises (or such portion thereof) is taken by the condemning authority. If this Lease is terminated under any provision of this Section 14, Rent shall be payable up to the date that possession is taken by the condemning authority and Lessor shall refund to Lessee any prepaid unaccrued Rent less any sums then owing by Lessee to Lessor.

Appears in 3 contracts

Samples: Lease Agreement (Skillsoft Public Limited Co), Lease Agreement (Skillsoft Public Limited Co), Lease Agreement (Skillsoft Public Limited Co)

Condemnation. If In the Premises event of any condemnation of all or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")Property, this Lease Agreement shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occursoccurs first. If more than ten percent (10%) as a result of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion a partial condemnation of the Premises not occupied by any buildingor Property, LESSEE, in LESSEE’s sole discretion, is taken by Condemnationunable to use the Premises for the purposes intended hereunder, Lessee or if such condemnation may reasonably be expected to disrupt LESSEE's operations at the Premises for more than forty-five (45) days, LESSEE may, at Lessee's LESSEE’s option, to be exercised in writing within ten fifteen (1015) days after Lessor LESSOR shall have given Lessee LESSEE written notice of such taking (or in the absence of such notice, within ten fifteen (1015) days after the condemning authority shall have taken possession) terminate this Lease Agreement as of the date the condemning authority takes such possession. LESSEE may on its own behalf make a claim in any condemnation proceeding involving the Premises for losses related to the equipment, conduits, fixtures, its relocation costs and its damages and losses (but not for the loss of its leasehold interest). Any such notice of termination shall cause this Agreement to expire with the same force and effect as though the date set forth in such notice were the date originally set as the expiration date of this Agreement and the Parties shall make an appropriate adjustment as of such termination date with respect to payments due to the other under this Agreement. If Lessee LESSEE does not terminate this Lease Agreement in accordance with the foregoing, this Lease Agreement shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in the same proportion to as the reduction in utility rentable area of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be taken bears to the property of Lessor, whether such award shall be made as compensation for diminution in value total rentable area of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforPremises. In the event that this Lease Agreement is not terminated by reason of the Condemnationsuch condemnation, Lessor LESSOR shall promptly repair any damage to the Premises caused by such Condemnationcondemning authority.

Appears in 3 contracts

Samples: Land Lease Agreement, Land Lease Agreement, Land Lease Agreement

Condemnation. If the Premises Premises, or any portion part thereof or the whole or any part of the building of which they are a part shall be taken under for any purpose by exercise of the power of eminent domain or sold under condemnation, or by action of the threat city or other authorities or shall receive any direct or consequential damages for which the Lessor or Lessee shall be entitled to compensation by reason of anything lawfully done in pursuance of any public authority after the execution hereof and during said Term, or any extension or renewal thereof, then at the option of either the Lessor or the Lessee, this Lease and said Term shall be terminated and such option may be exercised in the case or any such taking notwithstanding the entire interest of the Lessor and the Lessee may have been divested by such taking. Said option to terminate shall be exercised by either the Lessor or the Lessee, by giving written notice to exercise such option to terminate in the manner described in Section 26 of this Lease. Said option to terminate shall not be exercised by either party (a) earlier than the effective date of taking nor (b) later than thirty (30) days after the effective date of taking. The mailing of the notice of exercise as set forth hereinabove shall be deemed to be the exercise of said power (collectively "CONDEMNATION")option; and upon the giving of such notice, this Lease shall terminate as to the part taken be terminated as of the date of the condemning authority takes title or possession, whichever first occurstaking. If more than ten percent (10%) this Lease and said Term are not to be terminated, then in case of any building portion such taking or destruction or damage to the Premises, rendering the same or any part thereof unfit for use and occupation, a just proportion of the rent hereintofore reserved, according to the nature and extent of the damage to the Premises, shall be suspended or abated until in the case of such taking, what may remain of the Premises, shall have been put in proper condition for use and occupation. The Lessee hereby assigns to the Lessor any and all claims and demands for damages on account any such taking or more than twenty-five percent (25%) for compensation for anything lawfully done in pursuance of any public authority and covenants with the land area portion Lessor that the Lessee will from time to time execute and deliver to the Lessor such further instruments of assignment of any such claims and demands as the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; request provided, however, that the Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or does not this Lease is terminated pursuant assign to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises Lessor any claim based upon Xxxxxx's personal property or other improvements installed by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnationwith Xxxxxx's written permission.

Appears in 3 contracts

Samples: Residential Lease, Residential Lease, Residential Lease

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisesbuilding, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 3 contracts

Samples: Telocity Inc, Javelin Systems Inc, Telocity Inc

Condemnation. If the Premises all or any portion thereof are taken of the Leased Premises is the subject of a taking under the power of eminent domain or sold under by any legally constituted authority, Landlord will give Client immediate notice thereof. In the threat event of the exercise a partial taking where there remains a sufficient amount of said power (collectively "CONDEMNATION")space to permit Client to carry on its business in a manner comparable to that which it has become accustomed, then this Lease shall terminate as continue, but the obligation to pay rent on the part of Client shall be reduced in an amount proportionate to the part taken as square footage of the date entire Leased Premises relative to the condemning authority takes title or possession, whichever first occurssquare footage taken by such condemnation. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, neither Client nor Landlord elects to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoingevent of a partial taking, this Lease shall remain in full force Landlord will make the repairs and effect as alterations to the Leased Premises necessary to constitute the remaining portion of the Premises remaining, except that Building as a whole architectural unit as soon as practicable and the Base Rent shall be reduced xxxxx entirely during any period of such restoration and thereafter in proportion to the reduction in utility area of the Leased Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part so taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event all of the Leased Premises shall be taken, or so much of the Leased Premises taken that it is not feasible to continue a reasonably satisfactory operation of the business of Client, then Client shall have the option of terminating this Lease is not terminated by reason within thirty (30) days’ after the date of the Condemnation, Lessor such notice. Such termination shall repair any damage be without prejudice to the Premises rights of either Landlord or Client to recover compensation from the condemning authority for any loss or damage caused by such Condemnationcondemnation, and Client will not share in the proceeds of any condemnation award except as to an award made to Client for cost of moving, loss of business, and trade fixtures. Neither Landlord nor Client shall have any right in or to any award made to the other by the condemning authority.

Appears in 3 contracts

Samples: Services Agreement, Services Agreement, Services Agreement

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 3 contracts

Samples: files.gabbart.com, Temporary Library Lease Agreement, www.aircre.com

Condemnation. 18.1 If the Premises one third or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more the use or occupancy thereof, shall be taken or condemned by any governmental or quasi-governmental authority for any public or quasi-public use or purpose or sold under threat of such a taking or condemnation (collectively, “condemned”), then this Lease shall terminate on the day prior to the date title thereto vests in such authority and rent shall be apportioned as of such date. If less than twenty-five percent (25%) of the land area portion one third of the Premises not occupied by any buildingor occupancy thereof is condemned, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, then this Lease shall remain continue in full force and effect as to the part of the Premises not so condemned, except that as of the date title vests in such authority Tenant shall not be required to pay rent with respect to the part of the Premises so condemned. Landlord shall notify Tenant of any condemnation contemplated by this Section promptly after Landlord receives notice thereof. Within ten (10) days after receipt of such notice, Tenant shall have the right to terminate this Lease with respect to the remainder of the Premises not so condemned as of the date title vests in such authority if such condemnation renders said remainder of the Premises totally unusable for their intended purpose. Notwithstanding anything herein to the contrary, if twenty five percent (25%) or more of the Land or the Building is condemned, then whether or not any portion of the Premises remainingis condemned, except that Landlord shall have the Base Rent shall be reduced in proportion right to the reduction in utility terminate this Lease as of the Premises caused by date title vests in such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnationauthority.

Appears in 3 contracts

Samples: Office Lease Agreement (Bicara Therapeutics Inc.), Office Lease Agreement (IMARA Inc.), Office Lease Agreement (IMARA Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the rentable floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee's Reserved Parking Spaces, is if any, are taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 3 contracts

Samples: Newave Inc, Newave Inc, Eye Dynamics Inc

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat whole of the exercise of said power (collectively "CONDEMNATION")Demised Premises shall be taken in condemnation, this Lease shall terminate as to upon the part taken vesting of title in the condemnor and all rent and other charges paid or payable by Tenant shall be apportioned as of the date the condemning authority takes of vesting of title or possession, whichever first occursin such condemnation proceeding. If more than ten percent (10%) of any building portion only part of the PremisesDemised Premises shall be so taken in condemnation so that the remainder cannot be used for the intended purpose, or more than twenty-five percent (25%) then Tenant may either terminate this Lease as to the remainder of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within premises on ten (10) days after Lessor shall have given Lessee written notice of such taking (to Landlord or remain in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as possession of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the remaining portion of the Premises remainingpremises under all of the terms, conditions and covenants of this Lease, except that the Base Rent rent thereafter shall be apportioned and reduced in proportion from the date of each such partial taking to the reduction in utility amount equal to the product of the Premises caused by dollar amount of rent payable on such Condemnationdate and the number of square feet in the part remaining. Condemnation awards and/or payments If this Lease is not so terminated, the proceeds of any award for partial taking shall be applied by Landlord to the property repair, restoration or replacement of Lessorthe remaining premises, whether such award to their condition immediately prior to the condemnation (“Restoration”) and if there be any deficiency, it shall be made as compensation for diminution in value up by Landlord, but if there be any surplus, it shall belong to the Landlord. Said Restoration of the leaseholdremaining premises shall be performed pursuant to plans and specifications reasonably approved by the Human Resources Administration and completed within six (6) months after such approval. In the event said Restoration is not completed within said six (6) months period, Tenant, in addition to any other remedy it may have, may terminate this Lease on ninety (90) days written notice or perform said Restoration and deduct the reasonable cost thereof from any rent which may be due and payable under this Lease. Tenant shall be entitled to apply for a separate award for the value of the improvements and fixtures made or paid for by Tenant upon that part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee premises taken in condemnation and Lessee shall be entitled to hereby waives any and all compensation which is payable therefor. In claim for the event that this Lease is not terminated by reason value of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnationits leasehold position.

Appears in 3 contracts

Samples: Lease Renewal and Amendment Agreement, Lease Renewal and Amendment Agreement (Clipper Realty Inc.), Agreement of Lease (Clipper Realty Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 3 contracts

Samples: Cue Health Inc., Cue Health Inc., Vincera Pharma, Inc.

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion Premises, or more than thirty-five percent (35%) of the Premises not occupied by any building, parking is taken by Condemnation, Lessee Tenant may, at Lessee's Tenant’s option, to be exercised in writing within ten (10) days after Lessor Landlord shall have given Lessee Tenant written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee Tenant does not timely terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of LessorLandlord, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor Landlord shall repair any damage to the Premises caused by such CondemnationCondemnation to the extent of any proceeds actually received by Landlord.

Appears in 3 contracts

Samples: Lease (Globeimmune Inc), Lease (Globeimmune Inc), Lease (Replidyne Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain domain, or sold under the threat of the exercise of said power (collectively "CONDEMNATION"all of which are herein called “condemnation”), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the floor area of the improvements on the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises which is not occupied by any buildingimprovements, is taken by Condemnationcondemnation, Lessee may, at Lessee's ’s option, to be exercised in writing only within ten (10) days after Lessor shall have given Lessee written notice of such taking (or nor in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in the proportion that the floor area taken bears to the reduction in utility total floor area of the building situated on the Premises. Any award for taking of all or any part of the Premises caused by under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, leasehold or for the value taking of the part takenfee, or for as severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnationsuch condemnation, Lessor shall shall, to the extent of severance damages received by Lessor in connection with such condemnation, repair any damage to the Premises caused by such Condemnationcondemnation except to the extent that Lessee has been reimbursed therefor by the condemning authority. Lessee shall pay any amount in excess of such severance damages required to complete such repair.

Appears in 3 contracts

Samples: Lease (Local Matters Inc.), Lease (Local Matters Inc.), Lease (Local Matters Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion 25% of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee Tenant may, at Lessee's Tenant’s option, to be exercised in writing within ten (10) days after Lessor Landlord shall have given Lessee Tenant written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee Tenant does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of LessorLandlord, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee Tenant shall be entitled to any compensation paid by the condemnor for Lessee's Tenant’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this ParagraphArticle 14. All Alterations and Utility Installations made to the Premises by LesseeTenant, for purposes of Condemnation only, shall be considered the property of the Lessee Tenant and Lessee Tenant shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor Landlord shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: Commercial Lease (NantKwest, Inc.), Commercial Lease (NantKwest, Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: Guaranty of Lease (International Stem Cell CORP), static1.squarespace.com

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after aGer Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after aGer the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: images1.cityfeet.com, images1.showcase.com

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the rentable floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee’s Reserved Parking Spaces, is if any, are taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: Rules And (Unico American Corp), Tenant Improvement Agreement (Genoptix Inc)

Condemnation. If the Premises shall be condemned or taken in its entirety for a public or quasi-public use, all compensation therefore shall be paid to Mortgagee to be used to pay the Mortgage as provided in the Mortgage and any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")remaining funds will be divided between Lessor and Lessee, and this Lease and all obligations hereunder shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occursof taking. If more than ten percent only a portion of the Premises shall be condemned or taken for a public or quasi-public use, any and all awards or compensation arising from such condemnation or taking shall be paid to Mortgagee subject to the terms of the Mortgage, and this Lease shall continue without modification, unless and except that if so much or such portion of the Premises be taken that the taking shall materially interfere with the efficient operation of its business by Lessee on the Premises, the judgment of Lessee as to the materiality of such interference being conclusive, then at any time within sixty (10%60) days after the taking of any building such portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied Lessee may terminate this Lease by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after serving upon Lessor shall have given Lessee written notice of such taking (or in its intention to do so. In the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate event this Lease is so terminated, then any and all awards or compensation arising from such condemnation or taking shall be paid jointly to Lessor and Lessee subject to the terms of the Mortgage, and all obligations hereunder shall cease as of the date of such termination and any funds remaining after the payment of the Mortgage shall be divided between the Lessor and Lessee. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority takes in such possession. If Lessee does not terminate this Lease in accordance with the foregoingcondemnation proceedings for loss of business, this Lease shall remain in full force and effect as to the portion or depreciation to, damage to, or cost of the Premises remainingremoval of, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation or for diminution in value of the leasehold, the value of the part takenits leasehold interest, or for severance damages; providedstock, howevertrade fixtures, that Lessee shall be entitled furniture and other personal property belonging to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: Lease Agreement (Centennial Healthcare Corp), Lease Agreement (Centennial Healthcare Corp)

Condemnation. If In the Premises event of any condemnation of all or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")Premises, this Lease Agreement shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occursoccurs first. If more than ten percent (10%) as a result of any building portion a partial condemnation of the Premises, Lessee, in Lessee’s discretion, is unable to use the Premises for the purposes intended hereunder, or if such condemnation may reasonably be expected to disrupt Lessee’s operations at the Premises for more than twentyforty-five percent (25%45) of the land area portion of the Premises not occupied by any building, is taken by Condemnationdays, Lessee may, at Lessee's ’s option, to be exercised in writing within ten fifteen (1015) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten fifteen (1015) days after the condemning authority shall have taken possession) terminate this Lease Agreement as of the date the condemning authority takes such possession. Lessee may on its own behalf make a claim in any condemnation proceeding involving the Premises for losses related to the equipment, conduits, fixtures, its relocation costs and its damages and losses. Any such notice of termination shall cause this Agreement to expire with the same force and effect as though the date set forth in such notice were the date originally set as the expiration date of this Agreement and the Parties shall make an appropriate adjustment as of such termination date with respect to payments due to the other under this Agreement. If Lessee does not terminate this Lease Agreement in accordance with the foregoing, this Lease Agreement shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in the same proportion to as the reduction in utility rentable area of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be taken bears to the property of Lessor, whether such award shall be made as compensation for diminution in value total area of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforPremises. In the event that this Lease Agreement is not terminated by reason of the Condemnationsuch condemnation, Lessor shall promptly repair any damage to the Premises caused by such Condemnationcondemning authority.

Appears in 2 contracts

Samples: Lease Agreement (ARC Group Worldwide, Inc.), Lease Agreement

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"all of which are herein called “Condemnation”), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingCommon Areas designated for Tenant’s parking, is taken by Condemnationcondemnation, Lessee Tenant may, at Lessee's Tenant’s option, to be exercised in writing within ten (10) 10 days after Lessor Landlord shall have given Lessee Tenant written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) ), terminate this Lease as of the date the condemning authority takes such possession. If Lessee Tenant does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in the same proportion to as the reduction in utility rentable floor area of the Premises caused by taken bears to the total rentable floor area of the Premises. No reduction of Base Rent shall occur if the condemnation does not apply to any portion of the Premises. Any award for the taking of all or any part of the Premises under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damagesLandlord; provided, however, that Lessee Tenant shall be entitled to any compensation compensation, separately awarded to Tenant, for Lessee's Tenant’s relocation expenses, expenses and/or loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforTenant’s trade fixtures. In the event that this Lease is not terminated by reason of such condemnation, Landlord shall to the Condemnationextent of its net severance damages in the condemnation matter, Lessor shall repair any damage to the Premises caused by such Condemnationcondemnation authority.

Appears in 2 contracts

Samples: D Lease (Harmonic Inc), Industrial Lease (Foxhollow Technologies, Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the this condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) 20% of the land area portion of the Premises not occupied by any buildingLessee's Reserved Parking Spaces, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused cause by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for LesseeLessor's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefortherefore. In IN the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: Ironclad Performance Wear Corp, Ironclad Performance Wear Corp

Condemnation. (#7) If the Premises or any portion thereof are taken under the power of eminent domain domain, or sold under the threat of the exercise of said power (collectively all of which are herein called "CONDEMNATIONcondemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any the floor area of the building portion of on the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises which is not occupied by any building, is taken by Condemnationcondemnation, Lessee may, at Lessee's option, to be exercised in writing only within ten (10910) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in the proportion that the floor area of the building taken bears to the reduction in utility total floor area of the building situation on the Premises. (#8) Any award for the taking of all or any part of the Premises caused by under the power of eminent domain or any payment made under the threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, leasehold or for the value taking of the part takenfee, or for as severance damages; provided, however, that Lessee shall be entitled to any compensation award for loss of or damage to Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations trade fixtures and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforremovable personal property. In the event that this Lease is not terminated by reason of the Condemnationsuch condemnation, Lessor shall to the extent of severance damages received by Lessor in connection with such condemnation, repair any damage to the Premises caused by such Condemnationcondemnation except to the extent that Lessee has been reimbursed therefor by the condemning authority. Lessee shall pay any amount in excess of such severance damages required to complete such repair.

Appears in 2 contracts

Samples: Park Electrochemical Corp, Park Electrochemical Corp

Condemnation. If the entire Premises or any portion thereof are taken under condemned, this Agreement shall terminate on the power of eminent domain or sold under the threat date when possession of the exercise Premises is taken by the condemning authority. If any part of said power the Premises is condemned so that Tenant cannot use the remainder of the Premises for substantially the same purpose(s) as immediately prior to condemnation. Tenant may terminate this Agreement on the date when possession is taken by the condemning authority, by giving Management notice of intent to terminate with sixty (collectively "CONDEMNATION")60) days after Management gives tenant notice of condemnation. In the event of any other condemnation, this Lease Agreement shall terminate not terminate. Any termination under this Section shall have the same effect as to termination of this Agreement as if the part taken as date on which possession of the date Premises is taken by the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of were stated as the Premises, or more than twenty-five percent (25%) of the land area portion time for termination of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority were stated as the time for termination of the Agreement and Management and the Tenant shall have taken possession) terminate this Lease account for Basic Rent, Additional Rent, and any other amounts payable by Tenant as of that date. No termination of this Agreement shall affect the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as Owner’s right to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee any condemnation. Owner shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether the full award or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made proceeds payable with respect to the Premises by Lessee, for reason of any condemnation. For purposes of Condemnation onlythis section, words and phrases referring to condemnation shall be considered the property refer to statutory condemnation, exercise of the Lessee private or public power of eminent domain, proceedings in the nature of condemnation, and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason sale or transfer made in lieu of or under threat of condemnation or exercise of the Condemnation, Lessor private or public power or eminent domain and shall repair include any damage to such condemnation for permanent or for temporary use of interference with any part or all of the Premises caused by such CondemnationPremises.

Appears in 2 contracts

Samples: Residential Lease Agreement, Residential Lease Agreement

Condemnation. If the Premises or any portion thereof or the Hangar are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively all of which are herein called "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion the floor area of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, Hangar is taken by Condemnationcondemnation, Lessee may, at Lessee's option, ’s option to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) , terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in the proportion that the floor area taken bears to the reduction in utility total floor area of the Hangar . Lessee shall not be entitled to any award for the taking of all or any part of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be under the property power of Lessoreminent domain, whether such award shall be or any payment made as compensation for diminution in value under threat of the leasehold, the value exercise of the part taken, or for severance damagessuch power; provided, however, that Lessee shall be entitled to any compensation separately awarded to Lessee for Lessee's ’s relocation expenses, expenses and/or loss of business goodwill and/or Trade Fixtures, without regard to whether Lessee’s trade fixtures or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises improvements constructed by Lessee, for purposes of Condemnation only, shall be considered including the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such CondemnationHangar.

Appears in 2 contracts

Samples: Hangar Land Lease Agreement, Hangar Land Lease Agreement

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisespremises, or more than twenty-five percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: Equinix Inc, Equinix Inc

Condemnation. If during the Term, or during the period of time between ------------ the execution of this Lease and the Lease Commencement Date, there is any taking of all or any part of the Premises or any portion thereof are taken under interest in this Lease by the exercise of any governmental power, whether by legal proceedings or otherwise, by any public or quasi-public authority, or private corporation or individual, having the power of eminent domain or sold under the threat condemnation (any of the exercise of said power (collectively preceding a "CONDEMNATIONCondemnor"), or a voluntary sale or transfer by Landlord to any Condemnor, either under threat of condemnation or while legal proceedings for condemnation are pending (any of the preceding, a "Condemnation"), the rights and obligations of Landlord and Tenant shall be determined pursuant to this Paragraph. If such Condemnation is of the entire Premises, then this Lease shall terminate as to the part taken as of on the date the condemning authority Condemnor takes title or possession, whichever first occurspossession of the Premises (the "Date of Condemnation"). If more than ten percent (10%) of any building portion A temporary Condemnation of the Premises, or more than twenty-five percent (25%) any part of the land area portion of Premises, for less than 180 days, shall not constitute a Condemnation under this Paragraph; but the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor Basic Monthly Rent shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect xxxxx as to the portion of the Premises remainingaffected during such temporary Condemnation. If such Condemnation is of any portion, but not all, of the Premises, then this Lease shall remain in effect, except that, if the remaining portion of the Premises is rendered unsuitable for Tenant's continued use of the Premises, then Tenant may elect to terminate this Lease, by so notifying Landlord in writing (the "Termination Notice") within 30 days after the date that the nature and extent of the Condemnation have been determined. Such termination shall be effective on the earlier of (i) the date that is 30 days after the giving of the Termination Notice, or (ii) the Date of Condemnation. If Tenant does not give to Landlord the Termination Notice within such 30-day period, then all obligations of Tenant under this Lease shall remain in effect, except that (unless the Base Premises are restored as set forth below) Basic Monthly Rent shall be reduced in proportion to by the reduction in utility ratio of (a) the area of the Premises caused by such taken to (b) the area of the Premises immediately prior to the Date of Condemnation. Notwithstanding anything to the contrary in this Paragraph, if, within 20 days after Landlord's receipt of the Termination Notice, Landlord notifies Tenant that Landlord at its cost will add to the remaining Premises (or substitute for the Premises other comparable space in the Project) so that the area of the Premises will be substantially the same after the Condemnation awards and/or payments as they were before the Condemnation, and Landlord commences the restoration promptly and completes it within 150 days after Landlord so notifies Tenant, then all obligations of Tenant under this Lease shall remain in effect, except that Basic 13 Pacific Tower Full Service Gross Office Copper-Mountain-Lease: 08027.208 Landlord___________Tenant___________ Monthly Rent shall be abated or reduced during the property period from the Date of LessorCondemnation until the completion of such restoration by the ratio of (A) the area of the Premises taken to (B) the area of the Premises immediately prior to the Date of Condemnation. Unless Landlord restores the Premises pursuant to the preceding sentence, whether such award or unless Tenant gives to Landlord the Termination Notice within the relevant 30-day period, Tenant at its sole cost shall accomplish any restoration required by Tenant to use the Premises. All compensation, sums, or anything of value awarded, paid, or received on a total or partial Condemnation (the "Award") shall belong to and be paid to Landlord. Tenant shall have no right to any part of the Award, and Tenant hereby assigns to Landlord all of Tenant's right, title, and interest in and to any part of the Award, except that Tenant shall receive from the Award any sum paid expressly to Tenant from the Condemnor for Tenant's loss of goodwill. Landlord and Tenant waive the provisions of any statute (including without limitation California Code of Civil Procedure Section 1265.130 or any successor statute) that allows Landlord or Tenant to petition the superior court (or any other local court) to terminate this Lease in the event of a partial taking of the Premises. Nothing herein contained shall be made as compensation deemed or construed to prevent Tenant from interposing and prosecuting in any condemnation proceedings a claim for diminution in value of the leasehold, the value of the part taken, any personal property installed in or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by LesseeTenant, or for purposes its costs of Condemnation only, shall be considered the property moving or loss of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated business by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnationcondemnation.

Appears in 2 contracts

Samples: Copper Mountain Networks Inc, Copper Mountain Networks Inc

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the rentable floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee's Reserved Parking Spaces, is if any, are taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemner for LesseeXxxxxx's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by LesseeXxxxxx, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefortherefore. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: Multi Tenant Office Lease (America Great Health), Multi Tenant Office Lease (America Great Health)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%25I) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: Arbitration Agreement (Nextest Systems Corp), Arbitration Agreement (Nextest Systems Corp)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's Lxxxxx’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by LesseeLxxxxx, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: Arbitration Agreement (Brownie's Marine Group, Inc), Arbitration Agreement (Brownie's Marine Group, Inc)

Condemnation. If In the Premises event of any condemnation of all or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")Property, this Lease Agreement shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occursoccurs first. If more than ten percent (10%) as a result of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion a partial condemnation of the Premises not occupied by any buildingor Tower, LESSEE, in LESSEE’s sole discretion, is taken by Condemnationunable to use the Premises for the purposes intended hereunder, Lessee or if such condemnation may reasonably be expected to disrupt XXXXXX's operations at the Premises for more than forty-five (45) days, LESSEE may, at Lessee's LESSEE’s option, to be exercised in writing within ten fifteen (1015) days after Lessor LESSOR shall have given Lessee LESSEE written notice of such taking (or in the absence of such notice, within ten fifteen (1015) days after the condemning authority shall have taken possession) terminate this Lease Agreement as of the date the condemning authority takes such possession. LESSEE may on its own behalf make a claim in any condemnation proceeding involving the Premises for losses related to the equipment, conduits, fixtures, its relocation costs and its damages and losses (but not for the loss of its leasehold interest). Any such notice of termination shall cause this Agreement to expire with the same force and effect as though the date set forth in such notice were the date originally set as the expiration date of this Agreement and the Parties shall make an appropriate adjustment as of such termination date with respect to payments due to the other under this Agreement. If Lessee LESSEE does not terminate this Lease Agreement in accordance with the foregoing, this Lease Agreement shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in the same proportion to as the reduction in utility rentable area of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be taken bears to the property of Lessor, whether such award shall be made as compensation for diminution in value total rentable area of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforPremises. In the event that this Lease Agreement is not terminated by reason of the Condemnationsuch condemnation, Lessor LESSOR shall promptly repair any damage to the Premises caused by such Condemnationcondemning authority.

Appears in 2 contracts

Samples: Water Tower Lease Agreement, Lease Agreement

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, Building or more than twenty-five percent (25%) of the land area any portion of the parking area exclusively serving the Premises not occupied by any building, is taken by Condemnation, or if such taking renders the Premises unusable in Lessee’s reasonable discretion, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, (i) this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion by an amount bearing the same ratio to the reduction in utility total amount of Base Rent as the portion of the Building that is taken by such Condemnation bears to the entire Building and (ii) Lessor shall restore, at Lessor’s sole cost and expense, the portion of the Premises caused by that have not been taken to a condition such Condemnationthat Lessee can reasonably conduct its business in substantially the same manner as prior to such taking. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: Lease (SeaSpine Holdings Corp), Lease (SeaSpine Holdings Corp)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the floor area of the Premises, Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemn or for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: Social Capital Suvretta Holdings Corp. I, Social Capital Suvretta Holdings Corp. I

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the rentable floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee’s Reserved Parking Spaces, is if any, are taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: Office Lease (Coast Bancorp/Ca), Office Lease (1st Century Bancshares, Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain domain, or sold under the threat of the exercise of said power (collectively all of which are herein called "CONDEMNATIONcondemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the floor area of the improvements on the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises which is not occupied by any buildingimprovements, is taken by Condemnationcondemnation, Lessor or Lessee may, at Lesseeeither party's option, to be exercised in writing only within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date of the condemning authority takes such possession. If Lessee does not terminate neither party terminates this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in proportion that the floor area taken bears to the reduction in utility total floor area of the building situated on the Premises. Any award for the taking of all or any part of the Premises caused by under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, leasehold or for the value taking of the part takenfee, or for as severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnationsuch condemnation, Lessor shall shall, to the extent of severance damages received by Lessor in connection with such condemnation, repair any damage to the Premises caused by such Condemnationcondemnation except to the extent that Lessee has been reimbursed therefor by the condemning authority. Lessee shall pay any amount in excess of such severance damages required to complete such repair.

Appears in 2 contracts

Samples: Digital Domain, Digital Domain

Condemnation. If, during the term, title to, or the temporary use of, all or any part of the Premises shall be condemned by any authority exercising the power of eminent domain, LESSEE shall, within fifteen (15) days after the date of entry of a final order in any eminent domain proceedings granting condemnation, notify LESSOR in writing as to the nature and extent of such condemnation and whether it is practicable for LESSEE to acquire or construct substitute improvements, or whether LESSEE shall elect to terminate this lease. If LESSEE shall determine that such substitution is practicable and desirable and LESSOR shall agree thereto, LESSEE shall forthwith proceed with and complete with reasonable dispatch the acquisition or construction of such substitute improvements. In such case, any net proceeds received from any award or awards with respect to the Premises or any portion part thereof are taken under the power of made in such condemnation or eminent domain or sold under proceeds shall be used and applied for the threat purpose of paying the exercise cost of said power (collectively "CONDEMNATION"), this Lease such substitution. Any proceeds not required for such costs shall terminate as be distributed to the part taken parties in pro-rata distributions as their interests may appear based upon Agreement term remaining and the fair market value of each party’s interest at the date time the condemning authority takes title or possession, whichever first occursproceeds are received. If more than ten percent (10%) LESSEE shall determine that it is not practicable and desirable to acquire or construct substitute improvements, any net proceeds shall be distributed to the parties in pro-rata distributions as their interests may appear based upon the Agreement term remaining, and the fair market value of each party’s interest at the time the proceeds are received. LESSOR shall cooperate fully with LESSEE in the handling and conduct of any building portion of the Premises, prospective or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance pending condemnation proceedings with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made respect to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to or any and all compensation which is payable thereforpart thereof. In no event will LESSEE or LESSOR voluntarily settle or consent to the event that this Lease is not terminated by reason settlement of the Condemnation, Lessor shall repair any damage prospective or pending condemnation proceedings with respect to the Premises caused by such Condemnationwithout the mutual agreement and written consent of the other party to this Agreement.

Appears in 2 contracts

Samples: Use and Lease Agreement, Use and Lease Agreement

Condemnation. If In the event that any portion of the Demised Premises or any portion thereof all of the Demised Premises are taken under the power of eminent domain condemnation proceedings, or sold by sale under the threat of condemnation, Tenant shall have no right to any portion of the exercise condemnation award. This does not preclude the Tenant from the right to recover for business damages and relocation expenses if any, to which it may be entitled under applicable law. If the portion of said power (collectively "CONDEMNATION")the Demised Premises taken is such that Tenant, in Tenant's determination, is not materially affected in the conduct of Tenant's business, then this Lease shall terminate continue in full force and effect with no abatement of rentals to be paid hereunder as to though such property was not taken. If, on the part taken as other hand, the taking of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building a portion of the PremisesDemised Premises is such as to, or more than twenty-five percent in the determination of Tenant, materially affect the conduct of Tenant's business, then and in that event, Tenant shall have the right to an equitable abatement of rent hereunder. If Landlord and Tenant cannot agree on an equitable rental reduction, then the same shall be referred to a panel of three (25%3) arbitrators, one of which is appointed by each party, and the land area portion of third appointed by the Premises not occupied by any buildingfirst two arbitrators, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing who shall meet within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in appointment and then and there determine a fair reduced rental, both parties covenanting and agreeing to be bound by the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforarbitration decision. In the event that the portion or amount of property taken by condemnation or by sale under threat of condemnation is such as to preclude Tenant, in Tenant's determination, from effectively conducting Tenant's business, then Tenant shall have the right to cancel and terminate this Lease is not terminated which said right shall be exercised, if at all, by reason Tenant so notifying Landlord within fifteen (15) days after the taking or conveyance of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnationproperty.

Appears in 2 contracts

Samples: Lease (Invisa Inc), Lease (Invisa Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the PremisesBuilding, or more than twenty-five percent (25%) % of the land area that portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Amistar Corp), Purchase and Sale Agreement (Amistar Corp)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"all of which are herein called “condemnation”), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingCommon Areas designated for Tenant’s, parking, is taken by Condemnationcondemnation, Lessee Tenant may, at Lessee's Tenant’s option, to be exercised in writing within ten (10) 10 days after Lessor Landlord shall have given Lessee Tenant written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) ), terminate this Lease as of the date the condemning authority takes such possession. If Lessee Tenant does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in the same proportion to as the reduction in utility rentable floor area of the Premises caused by taken bears to the total rentable floor area of the premises. No reduction of Base Rent shall occur if the condemnation does not apply to any portion of the Premises. Any award for the taking of all or any part of the Premises under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damagesLandlord; provided, however, that Lessee Tenant shall be entitled to any compensation compensation, separately awarded to Tenant, for Lessee's Tenant’s relocation expenses, expenses and/or loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforTenant’s trade fixtures. In the event that this Lease is not terminated by reason of such condemnation, Landlord shall to the Condemnationextent of its net severance damages in the condemnation matter, Lessor shall repair any damage to the Premises caused by such Condemnationcondemnation authority. Tenant shall be responsible for the payment of any amount in excess of such net severance damages required to complete such repair.

Appears in 2 contracts

Samples: Industrial Lease (CAPSTONE TURBINE Corp), Industrial Lease (Capstone Turbine Corp)

Condemnation. If A. Notwithstanding the Premises or any portion thereof are taken under the power provisions of eminent domain or sold under the threat Section 13 of the exercise of said power (collectively "CONDEMNATION")Prime Lease, this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or if more than twenty-five percent (25%) of the land area Premises is taken or condemned for a temporary or permanent public or quasi-public use (“Condemnation”), this Sublease shall terminate at the option of Sublandlord by notice delivered to Subtenant within thirty (30) days of the Condemnation, or in the event the Prime Landlord elects to terminate the Prime Lease pursuant to Section 13.1 of the Prime Lease this Sublease shall terminate upon the effective date of the Prime Lease termination, and in either case Subtenant shall have no claim against Sublandlord for the value of any unexpired portion of the Premises Sublease Term and shall not occupied by be entitled to any buildingpart of any award which may be made or to any damages therefor, is taken by Condemnation, Lessee may, at Lessee's option, to except that the Rent shall be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease adjusted as of the date of such termination. Sublandlord shall promptly provide Subtenant with a copy of any notice it receives from Prime Landlord with respect to the Prime Landlord’s election to terminate the Prime Lease pursuant to Section 13.1 of the Prime Lease. Subtenant may make a separate claim against the condemning authority takes for damages allowed by law provided that any such possessionaward shall not reduce the amount otherwise payable to the Prime Landlord or Sublandlord. If Lessee Sublandlord has no obligation to restore the Premises as a result of any condemnation or exercise of eminent domain. In the event of a Condemnation which does not terminate result in the termination of this Lease in accordance with the foregoingSublease, this Lease Sublandlord and Subtenant shall remain in full force and effect as agree to the portion an equitable abatement of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility value of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnationcondemned.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement (Novavax Inc)

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Condemnation. If the Premises Premises, or any portion part thereof or the whole or any part of the building of which they are a part shall be taken under for any purpose by exercise of the power of eminent domain or sold under condemnation, or by action of the threat city or other authorities or shall receive any direct or consequential damages for which the Lessor of Lessee shall be entitled to compensation by reason of anything lawfully done in pursuance of any public authority after the execution hereof and during said Term, or any extension or renewal thereof, then at the option of either the Lessor or the Lessee, this Lease and said Term shall be terminated and such option may be exercised in the case or any such taking notwithstanding the entire interest of the Lessor and the Lessee may have been divested by such taking. Said option to terminate shall be exercised by either the Lessor or the Lessee, by giving written notice to exercise such option to terminate in the manner described in Section 26 of this Lease. Said option to terminate shall not be exercised by either party (a) earlier than the effective date of taking nor (b) later than thirty (30) days after the effective date of taking. The mailing of the notice of exercise as set forth hereinabove shall be deemed to be the exercise of said power (collectively "CONDEMNATION")option; and upon the giving of such notice, this Lease shall terminate as to the part taken be terminated as of the date of the condemning authority takes title or possession, whichever first occurstaking. If more than ten percent (10%) this Lease and said Term are not to be terminated, then in case of any building portion such taking or destruction or damage to the Premises, rendering the same or any part thereof unfit for use and occupation, a just proportion of the rent hereintofore reserved, according to the nature and extent of the damage to the Premises, shall be suspended or abated until in the case of such taking, what may remain of the Premises, shall have been put in proper condition for use and occupation. The Lessee hereby assigns to the Lessor any and all claims and demands for damages on account any such taking or more than twenty-five percent (25%) for compensation for anything lawfully done in pursuance of any public authority and covenants with the land area portion Lessor that the Lessee will from time to time execute and deliver to the Lessor such further instruments of assignment of any such claims and demands as the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; request provided, however, that the Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or does not this Lease is terminated pursuant assign to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises Lessor any claim based upon Xxxxxx's personal property or other improvements installed by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnationwith Xxxxxx's written permission.

Appears in 2 contracts

Samples: Residential Lease, Residential Lease

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at LesseeLxxxxx's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee Lxxxxx does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for LesseeLxxxxx's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by LesseeLxxxxx, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: Ceribell, Inc., Ceribell, Inc.

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the rentable floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee’s Reserved Parking Spaces, is if any, are taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation or for diminution in value of the leasehold, the value of the part taken, taken or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expensesexpense, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: Office Lease, Office Lease

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisespremises, or more than twenty-five percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixturesfixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: Dippy Foods Inc, Dippy Foods Inc

Condemnation. Notwithstanding anything contained in this Lease to the contrary, if the whole or any part of the Demised Premises is taken or condemned by any competent authority for any public use or purpose during the term or any extension of this Lease, Landlord reserves unto itself the right to claim and prosecute its claim in all appropriate courts and agencies for an award or damages for such taking based upon its sole interest and ownership of buildings, alterations and improvements on the Demised Premises without Tenant participating in the award. If (a) access to the Demised Premises or any portion thereof are taken under the power of eminent domain or sold under the threat (b) more than 25% of the exercise of said power (collectively "CONDEMNATION")Demised Premises, this Lease shall terminate be taken or condemned so as to render the part taken as remaining portion unsuitable for the continued use or occupancy of the date the condemning authority takes title or possessionTenant, whichever first occurs. If more than ten percent then Tenant may within a period thirty (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (1030) days after the date when possession of the Demised Premises shall be required by the condemning authority shall have taken possession) authority, elect to terminate this Lease as of Lease. In the date the condemning authority takes such possession. If Lessee does not event that Tenant shall fail to exercise this option to terminate this Lease in accordance with the foregoingLease, then this Lease shall remain continue in full force and effect as with respect to the portion of the Demised Premises remaining, except that the Base Rent not so taken and such remaining portion shall be reduced in proportion deemed to be the reduction in utility Demised Premises for the balance of the term of the Lease. Tenant will, with all due diligence and at its own cost and expense, repair and restore the Demised Premises caused by or what may remain of it to its former condition, provided that such Condemnationtaking or condemnation does not occur within the last nine (9) months of the Term of the Lease or any renewal term thereof. Condemnation awards and/or payments There shall be no abatement in the property payment of Lessor, whether such award shall be made as compensation Rent for diminution in value of the leasehold, period prior to Tenant’s election to terminate and vacating the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such CondemnationPremises.

Appears in 2 contracts

Samples: Lease (Bway Corp), Lease (Bway Corp)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for value of leasehold, Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: Somnus Medical Technologies Inc, Graphon Corp/De

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If , it more than ten percent (10%) of any building portion of the Premisesbuilding, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leaseholdhousehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for LesseeLessor's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or or, not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: Letter Agreement (SMTC Corp), Letter Agreement (SMTC Corp)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and end Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: www.sec.gov, Zoned Properties, Inc.

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisesbuilding, or more than twenty-five percent (25percent(25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Samples: Future Media Productions, Future Media Productions

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain domain, or sold under the threat of the exercise of said power (collectively "CONDEMNATION"all of which are herein called “condemnation”), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the floor area of the improvements on the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises which is not occupied by any buildingimprovements, is taken by Condemnationcondemnation, Lessor or Lessee may, at Lessee's either party’s option, to be exercised in writing only within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date of the condemning authority takes such possession. If Lessee does not terminate neither party terminates this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in proportion that the floor area taken bears to the reduction in utility total floor area of the building situated on the Premises. Any award for the taking of all or any part of the Premises caused by under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, leasehold or for the value taking of the part takenfee, or for as severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnationsuch condemnation, Lessor shall shall, to the extent of severance damages received by Lessor in connection with such condemnation, repair any damage to the Premises caused by such Condemnationcondemnation except to the extent that Lessee has been reimbursed therefore by the condemning authority. Lessee shall pay any amount in excess of such severance damages required to complete such repair.

Appears in 2 contracts

Samples: Digital Domain Media Group, Inc., Digital Domain

Condemnation. If a Facility is subject to Condemnation, or such substantial portion thereto as to make it unfeasible, in the Premises or any sole but good faith judgment of Owner, to restore and continue to operate the remaining portion thereof are taken under the power of eminent domain or sold under the threat of the exercise Facility following Condemnation, then upon the Date of said power (collectively "CONDEMNATION")Taking, this Lease Agreement shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor that Facility and neither party shall have given Lessee written notice of such taking (or in any further obligation to the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate other party hereunder with respect to that Facility and this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease Agreement shall remain in full force and effect as to the remaining Facilities. If Owner elects to restore and continue to operate the remaining portion of the Premises remainingFacility, except that the Base Rent then this Agreement shall be reduced in proportion not terminate as to the reduction in utility Facility, and Owner with the cooperation of Manager, or Manager if Owner so directs, shall proceed with reasonable diligence to repair any damage to the Premises caused Facility, or to alter or modify the Facility so as to render it a complete architectural unit which can be operated as a Facility of substantially the same type and class as before. The cost of restoration shall not be an Operating Expense or Fixed Operating Expense except to the extent the cost of restoration exceeds the net amount of any Award received by such any Owner. In the case of any Condemnation. Condemnation awards and/or payments , whether or not this Agreement shall cease and terminate, the entire Award shall be the property of LessorOwner, whether such award and Manager hereby assigns to Owner all its right, title and interest in and to any Award. Manager shall be made as compensation for diminution in value of have the leasehold, the value of the part taken, or for severance damages; providedright, however, that Lessee shall be entitled to any claim and recover from the condemning authority compensation for Lesseeany loss which Manager may be put for Manager's relocation expensesmoving expenses or taking of Manager's personal property (not including any value assigned to this Agreement), loss provided that such damages may be claimed only if they are awarded separately in the Condemnation proceedings and not out of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property as part of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated Award recoverable by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such CondemnationOwner.

Appears in 2 contracts

Samples: Management Agreement (Emeritus Corp\wa\), Management Agreement (Emeritus Corp\wa\)

Condemnation. If the Premises Seller agrees to give written notice to Purchaser of any action, condemnation or other proceeding threatened, pending or instituted for condemnation or other taking of all or any portion thereof are taken under part of the Property by a body having the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")each, this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%a “Condemnation”) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee Business Days of Seller having knowledge of such action or proceeding. If, prior to Closing, all or any part of the Property or access to the Property is subject to or taken by a Condemnation, or sale in lieu thereof, then Purchaser, by written notice of such taking (or in the absence of such notice, to Seller given within ten (10) days after Business Days following the condemning authority date of Purchaser’s receipt of Seller’s written notice of such Condemnation, or if earlier, the Closing Date, may elect to terminate this Agreement by written notice to Seller, and receive a full refund of the Xxxxxxx Money, whereby Purchaser shall have taken possession) no further obligations or liabilities relating to the Property subject to such termination, except as expressly set forth herein. If Purchaser does not elect to terminate this Lease as Agreement following any notice of a Condemnation of the date Property within said ten (10) Business Day period, or if earlier, the condemning authority takes such possession. If Lessee does not terminate Closing Date, then this Lease in accordance with the foregoing, this Lease Agreement shall remain in full force and effect as effect, and Seller shall assign, transfer, and set over to the portion Purchaser all of Seller’s right, title and interest in and to any awards that have been or that may thereafter be made for any such taking or sale in lieu thereof, in consideration of the Premises remaining, except that the Base Rent shall be reduced Purchase Price. Seller agrees to allow Purchaser to cooperate in proportion to the reduction in utility any negotiations for any Condemnation of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such CondemnationProperty.

Appears in 1 contract

Samples: Escrow Agreement

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain domain, or sold under the threat of the exercise of said power (collectively all of which are herein called "CONDEMNATIONcondemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any the floor area of the building portion of on the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises which is not occupied by any building, is taken by Condemnationcondemnation, Lessee may, at Lessee's option, to be exercised in writing only within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in the proportion that the floor area of the building taken bears to the reduction in utility total floor area of the building situated on the Premises. Any award for the taking of all or any part of the Premises caused by under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, leasehold or for the value taking of the part takenfee, or for as severance damages; provided, however, that Lessee shall be entitled to any compensation award for loss or damage to Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations trade fixtures and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforremovable personal property. In the event that this Lease is not terminated by reason of the Condemnationsuch condemnation, Lessor shall to the extent of severance damages received by Lessor in connection with such condemnation, repair any damage to the Premises caused by such Condemnationcondemnation except to the extent that Lessee has been reimbursed therefor by the condemning authority. See Addendum paragraph 61.

Appears in 1 contract

Samples: Valley National Corp /De/

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain domain, or sold by Landlord under the threat of the exercise of said power (collectively all of which is herein referred to as "CONDEMNATIONcondemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, ; whichever first occursoccurs first. If more than ten percent (10%) ANY of the floor area of any building portion of on the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any buildingcovered with buildings, is taken by Condemnationcondemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (either Landlord or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) Tenant may terminate this Lease as of the date the condemning authority takes possession by notice in writing of such election within twenty (20) days after Landlord shall have notified Tenant of the taking, or, in the absence of such notice, then within twenty (20) days after the condemning authority shall have taken possession. If Lessee does not terminate this Lease in accordance with the foregoingis not terminated by either Landlord or Tenant, this Lease then it shall remain in full force and effect as to the portion of the Premises remaining, except that provided the Base Rent rental shall be reduced in proportion to the reduction in utility floor area of the buildings taken within the Premises as bears to the total floor area of all buildings located on the Premises. In the event this Lease is not so terminated, then Landlord agrees, at Landlord's sole costs, as soon as reasonably possible, to restore the Premises to a complete unit of like quality and character as existed prior to the condemnation. All awards for the taking of any part of the Premises caused by such Condemnation. Condemnation awards and/or payments or any payment made under the threat of the exercise of power of eminent domain shall be the property of LessorLandlord, whether such award shall be made as compensation for diminution in of value of the leasehold, leasehold or for the value taking of the part taken, fees or for as severance damages; provided, however, that Lessee tenant shall be entitled to any compensation award for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such CondemnationTenant's trade fixtures and removable personal property.

Appears in 1 contract

Samples: Lease Agreement (Celebrate Express, Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee’s Reserved Parking Spaces, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Samples: Alldigital Holdings, Inc.

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisespremises, or more than twenty-five percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's Lessee option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Samples: Acadia Pharmaceuticals Inc

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively all of which are herein called "CONDEMNATIONcondemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingCommon Areas designated for Tenant's parking, is taken by Condemnationcondemnation, Lessee Tenant may, at LesseeTenant's option, to be exercised in writing within ten thirty (1030) days after Lessor Landlord shall have given Lessee Tenant written notice of such taking (or in the absence of such notice, within ten thirty (1030) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee Tenant does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent and Additional Rent shall be reduced in the same proportion to as the reduction in utility rentable floor area of the Premises caused by taken bears to the total rentable floor area of the Premises. No reduction of Base Rent shall occur if the condemnation does not apply to any portion of the Premises. Any award for the taking of all or any part of the Premises under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of LessorLandlord, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee Tenant shall be entitled to any compensation compensation, separately awarded to Tenant for LesseeTenant's relocation expenses, expenses and/or loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforTenants trade fixtures. In the event that this Lease is not terminated by reason of such condemnation, Landlord shall to the Condemnationextent of its net severance damages in the condemnation matter, Lessor shall repair any damage to the Premises caused by such Condemnationcondemnation authority.

Appears in 1 contract

Samples: Industrial Lease (Abgenix Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain domain, or sold under the threat of the exercise of said power (collectively all of which are herein called "CONDEMNATIONcondemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the floor area of the improvements on the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises which is not occupied by any buildingimprovements, is taken by Condemnationcondemnation, Lessor or Lessee may, at Lesseeeither party's option, to be exercised in writing only within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such written notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date of the condemning authority takes such possession. If Lessee does not terminate neither party terminates this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in proportion that the floor area taken bears to the reduction in utility total floor area of the building situated on the Premises. Any award for the taking of all or any part of the Premises caused by under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, leasehold or for the value taking of the part takenfee, or for as severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnationsuch condemnation, Lessor shall shall, to the extent of severance damages received by Lessor in connection with such condemnation, repair any damage to the Premises caused by such Condemnationcondemnation except to the extent that Lessee has been reimbursed therefor by the condemning authority. Lessee shall pay any amount in excess of such severance damages required to complete such repair.

Appears in 1 contract

Samples: Sonic Foundry Inc

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said sad power (collectively "CONDEMNATION"‘Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the rentable floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee’s Reserved Parking Spaces, is if any, are taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in In the absence of such notice, within ten (10) terminate this Lease as of the date the 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in In accordance with the foregoing, this Lease shall remain in In full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in In proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation Compensation for Lessee's ’s relocation expenses, . loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is IS terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is IS payable therefor. therefore In the event that this Lease is IS not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Samples: Office Lease Gross (VIASPACE Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten thirty (1030) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate terminates this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefortherefore. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation. See Addendum, Paragraph 59.

Appears in 1 contract

Samples: United Defense Industries Inc

Condemnation. If any part of the Premises or any portion thereof are taken take under the power of eminent domain domain, or sold under the Lindxx xxx threat of the exercise of said power (collectively "CONDEMNATION")power, this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion 25% of the Premises, or more than twenty-five percent (25%) floor area of the land area portion of the Premises not occupied by any building, is taken by Condemnationcondemnation, Lessee Tenant may, at Lessee's option, to be exercised in writing by a written notice within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence absent of such notice, within ten (10IO) days after the condemning authority shall have taken takes possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee Tenant does not terminate this Lease in accordance with the foregoingso terminate, this Lease shall remain in full force and effect as to the portion of the Premises remaining, remaining except that the Base Rent rent shall be reduced in the proportion that the floor area taken bears to the reduction in utility original total floor area; provided that if circumstances making abatement based on floor are unreasonable, the rent shall abatx by a reasonable amount to be determined by Landlord. In the event that Tenant elects not to terminate the Lease with respect to any part of the Premises caused by remaining after condemnation, Landlord shall have no responsibility to restore such Condemnationpart of the Premises to its condition prior to condemnation. Condemnation awards and/or payments Any award for the taking of all or part of the Premises tinder the power of eminent domain, including payment made under threat of the exercise of such power, shall be the property of LessorLandlord, whether such award shall be made as compensation for diminution in value of the leasehold, leasehold or for the value taking of the part taken, fee or for as severance damages; provided, however, that Lessee Tenant shall be entitled to any such compensation as may be separately awarded or recoverable by Tenant in Tenant's own right for Lessee's relocation expenses, the loss of business goodwill and/or Trade Fixtures, without regard or damage to whether Tenant's trade fixtures and removable personal property. Landlord shall not be liable to Tenant for tile loss of the use of all or not this Lease is terminated pursuant to the provisions any part of this Paragraph. All Alterations and Utility Installations made to the Premises taken by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnationcondemnation.

Appears in 1 contract

Samples: Nutraceutix Inc

Condemnation. 8.5.1 If the Premises entire NRC-Licensed Site, or the use or occupancy thereof, shall be permanently taken or condemned by any Governmental Authority or quasi-Governmental Authority for any public or quasi-public use or purpose or sold under threat of such a taking or condemnation (collectively, “Condemned”) so as to render Contractor unable to perform its obligations with respect to the entire NRC-Licensed Site, then Contractor’s obligations under this Agreement will terminate on the day prior to the date that Contractor is required to cease performance of such obligations, except that Contractor will remain entitled to compensation for all [**] completed before the date of termination. If less than the entire NRC-Licensed Site is permanently Condemned, and such partial Condemnation renders Contractor unable to perform its obligations with respect to a portion of the NRC-Licensed Site, then this Agreement shall continue in full force and effect with respect to the portion of the NRC-Licensed Site that Contractor is able to continue Decommissioning, and Contractor shall prepare a revised [**] for Company’s review and approval for the Decommissioning that Contractor is able to continue performing. If all or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise NRC-Licensed Site is permanently Condemned and such Condemnation does not render Contractor unable to perform all of said power (collectively "CONDEMNATION"), this Lease shall terminate as to its obligations or delay the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice performance of such taking (or in the absence of such noticeobligations, within ten (10) days after the condemning authority shall have taken possession) terminate then this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease Agreement shall remain in full force and effect as effect. If and to the extent that any such Condemnation prevents or delays performance of Contractor’s obligations with respect to the NRC-Licensed Site or any portion of the NRC-Licensed Site, such Condemnation shall be deemed a Force Majeure condition with respect to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused NRC-Licensed Site affected by such Condemnation. Condemnation awards and/or payments shall be the property For purposes of Lessor, whether such award shall be made as compensation for diminution in value of the leaseholdthis section, the value of the part takenNRC-Licensed Site or portions thereof, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation onlyas applicable, shall be considered the property deemed to be permanently Condemned if Condemned for a period in excess of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnationthirty six (36) consecutive calendar months.

Appears in 1 contract

Samples: Decommissioning Services Agreement (Progress Energy Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisespremises, or more than twenty-five percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in the same proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage damages to the Premises caused by such Condemnation.

Appears in 1 contract

Samples: Burke Flooring Products Inc

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%100/o) of any building portion of the Premisespremises, or more than twenty-five percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation. 15.

Appears in 1 contract

Samples: Laser Pacific Media Corporation

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the PremisesBuilding, or more than twenty-five percent (25%) % of the land area that portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in the proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expenses, loss of business goodwill goodwill, leasehold improvements paid for by Lessee, and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation. To the extent that the Premises are reduced, the Security Deposit and underlying letter of credit shall be reduced in accordance with the reduction of useable space to total useable space immediately prior to the condemnation.

Appears in 1 contract

Samples: Chromavision Medical Systems Inc

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee’s Reserved Parking Spaces, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in hi accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is Is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused Caused by such Condemnation.

Appears in 1 contract

Samples: Work Letter Agreement (Nexsan Corp)

Condemnation. If A. In the event all or substantially all of the Building or the Premises is taken or any portion thereof are taken under the power of condemned by eminent domain or sold under the threat of the exercise of said power by any conveyance in lieu thereof (collectively such taking, condemnation or conveyance in lieu thereof being hereinafter referred to as "CONDEMNATIONcondemnation"), the Term shall cease and this Lease shall terminate as to on the part taken as earlier of the date the condemning authority takes possession or the date title vests in the condemning authority. In the event any portion of the Building shall be taken by condemnation (whether or possession, whichever first occurs. If more than ten percent (10%) of not such taking includes any building portion of the Premises), or more than twenty-five percent (25%) which taking, in Landlord's judgment, is such that the Building cannot be restored in an economically feasible manner for use substantially as originally designed, then Landlord shall have the right, at Landlord's option, to terminate this Lease, effective as of the land area date specified by Landlord in a written notice of termination from Landlord to Tenant. In the event that a portion, but less than substantially all, of the Premises shall be taken by condemnation, then this Lease shall be terminated as of the date of such condemnation as to the portion of the Premises not occupied by any buildingso taken, is taken by Condemnationand, Lessee may, at Lessee's option, unless Landlord exercises its option to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate set forth in this Lease in accordance with the foregoingSection 14, this Lease shall remain in full force and effect as to the portion remainder of the Premises remainingPremises. In the event of termination of this Lease pursuant to the provisions of this Section 14, except that the Base Rent shall be reduced in proportion to the reduction in utility apportioned as of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property date of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damagestermination; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the those provisions of this Paragraph. All Alterations Lease which are designated to cover matters of termination and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, period thereafter shall be considered survive the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnationtermination hereof.

Appears in 1 contract

Samples: Lease (Tenfold Corp /Ut)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain domain, or sold under the threat of the exercise of said power (collectively all of which are herein called "CONDEMNATIONcondemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises which is not occupied by any building, improvements is taken by Condemnationcondemnation, Lessee may, at Lessee's option, to be exercised in writing only within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, notice within ten (10) days after the condemning condemnation authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in the proportion that the land area taken bears to the reduction in utility total land area of the premises. Any award for the taking of all or any part of the Premises caused by under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, leasehold or for the value taking of the part takenfee, or for as severance damages; provided, however, that Lessee shall be entitled to any compensation award for loss of or damage to Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations trade fixtures and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforremovable personal property. In the event that this Lease is not terminated by reason of the Condemnationsuch condemnation, Lessor shall shall, to the extent of severance damages received by Lessor in connection with such condemnation, repair any damage to the Premises caused by such Condemnationcondemnation except to the extent that Lessee has been reimbursed therefor by the condemning authority. Lessee shall pay any amount in excess of such severance damages to complete such repair.

Appears in 1 contract

Samples: Lease Agreement (Earth & Ocean Sports Inc)

Condemnation. If the Premises or any portion thereof are is taken under the power of eminent domain domain, or sold under the threat of the exercise of said power (collectively "CONDEMNATION"all of which are herein called “condemnation”), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion enough of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnationcondemnation such that, in Lessee’s opinion, would prevent Lessee from being able to continue its operations at the Premises in the same manner and capacity as prior to such condemnation, then Lessee may, at Lessee's ’s option, to terminate this Lease as of the date the condemning authority takes such possession or within sixty (60) days thereafter, at Lessee’s election. Such termination must, however, be exercised in writing within ten sixty (1060) days after Lessor shall have given gives Lessee written notice of such taking with sufficient information regarding the extent of such taking (or in the absence of such notice, within ten thirty (1030) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession). If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in the proportion to that the reduction in utility area of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be taken bears to the property of Lessor, whether such award shall be made as compensation for diminution in value total area of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefororiginal Premises. In the event that this Lease is not terminated by reason of the Condemnationsuch condemnation, Lessor shall Lessee may elect to repair any damage to the improvements located at the Premises caused by such Condemnationcondemnation at Lessee’s expense. All proceeds payable from any taking or condemnation of all or any portion of the land comprising the Premises shall belong to and be paid to Lessor. All proceeds payable from any taking or condemnation of all or any portion of the improvements or fixtures comprising the Premises shall belong to and be paid to Lessee.

Appears in 1 contract

Samples: Escrow Agreement (International Wire Group Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes Sates title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the PremisesBuilding, or more than twenty-five percent (25%) % of the land area that portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Samples: Lease (Osmetech PLC)

Condemnation. If In the Premises event of any condemnation of all or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")Property, this Lease Agreement shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occursoccurs first. If more than ten percent (10%) as a result of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion a partial condemnation of the Premises not occupied by any buildingor Property, TENANT, in TENANT’s sole discretion, is taken by Condemnationunable to use the Premises for the purposes intended hereunder, Lessee or if such condemnation may reasonably be expected to disrupt TENANT's operations at the Premises for more than forty-five (45) days, TENANT may, at Lessee's TENANT’s option, to be exercised in writing within ten fifteen (1015) days after Lessor LANDLORD shall have given Lessee TENANT written notice of such taking (or in the absence of such notice, within ten fifteen (1015) days after the condemning authority shall have taken possession) terminate this Lease Agreement as of the date the condemning authority takes such possession. TENANT may on its own behalf make a claim in any condemnation proceeding involving the Premises for losses related to the equipment, conduits, fixtures, its relocation costs and its damages and losses (but not for the loss of its leasehold interest). Any such notice of termination shall cause this Agreement to expire with the same force and effect as though the date set forth in such notice was the date originally set as the expiration date of this Agreement and the Parties shall make an appropriate adjustment as of such termination date with respect to payments due to the other under this Agreement. If Lessee TENANT does not terminate this Lease Agreement in accordance with the foregoing, this Lease Agreement shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in the same proportion to as the reduction in utility rentable area of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be taken bears to the property of Lessor, whether such award shall be made as compensation for diminution in value total rentable area of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such CondemnationPremises.

Appears in 1 contract

Samples: Lease Agreement

Condemnation. If the lie Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee’s Reserved Parking Spaces, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnationcondemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Samples: Nextest Systems Corp

Condemnation. If the Premises or any portion thereof or the Building Project are taken under the power of eminent domain domain, or sold under the threat of the exercise of said power (collectively all of which are herein called "CONDEMNATIONcondemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) ; provided that if so much of any building portion the Premises or the Building Project are taken by such condemnation as would substantially and adversely affect the operation and profitability of Lessee's business conducted from the Premises, or more than twenty-five percent (25%) of Lessee shall have the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised only in writing within ten thirty (1030) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten thirty (1030) days after the condemning authority shall have taken possession) ), to terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent and Lessee's Share of Operating Expenses shall be reduced in the proportion to that the reduction in utility floor area of the Premises caused by such Condemnationtaken bears to the total floor area of the Premises. Condemnation awards and/or payments Common Areas taken shall be excluded from the property Common Areas usable by Lessee and no reduction of Lessor, whether such award rent shall be made occur with respect thereto or by reason thereof. Lessor shall have the option in its sole discretion to terminate this Lease as compensation for diminution in value of the leaseholdtaking of possession by the condemning authority, the value by giving written notice to Lessee of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.election within thirty

Appears in 1 contract

Samples: Office Lease (Entertainment Boulevard Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the PremisesBuilding, or more than twenty-five percent (25%) % of the land area that portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Samples: migcres.com

Condemnation. If (a) In the Premises event that title to or the temporary use of the Project, or any portion thereof are thereof, shall be taken under in condemnation or by the exercise of the power of eminent domain by any governmental body or sold by any person, firm or corporation acting under Governmental Authority in excess of $1,000,000, the threat Company shall notify the Issuer, the Purchaser and the Trustee as to the nature and extent of such condemnation or eminent domain proceedings. If the Company deems it practicable and desirable to replace or restore that portion of the Project taken in or affected by condemnation or by the exercise of said the power (collectively "CONDEMNATION")of eminent domain, this Lease the Company shall terminate as obtain written consent from the Purchaser and upon receiving such approval the Company shall forthwith proceed with such replacement or restoration of the Project to a useful condition and shall notify the Issuer, the Purchaser and the Trustee upon the completion thereof, and such replaced or restored property shall become part of the Project subject to the part taken as security interests granted herein. If the Company determines to proceed with such replacement or restoration, all net proceeds of such award or awards shall be delivered to the Trustee and all such funds held by the Trustee for replacement or restoration of the date Project shall be disbursed by the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease Trustee in accordance with the foregoingprocedures established for making payments from the Project Fund in Section 5.2 of the Indenture. In the event the Company elects to restore or replace the Project, this Lease shall remain and the net proceeds of such condemnation award or awards will be insufficient to pay in full force and effect as to the costs of restoration or replacement of the portion of the Premises remainingProject taken in or affected by condemnation or the power of eminent domain, except that the Base Rent shall be reduced in proportion Company will nonetheless perform such restoration or replacement. Prior to the reduction in utility commencement thereof, the Company shall pay the deficiency to the Trustee for disbursement. The Company shall not, by reason of the Premises caused by payment of any such Condemnation. Condemnation awards and/or payments shall be the property of Lessordeficiency, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expensesreimbursement from the Trustee, loss the Purchaser or the Issuer or any abatement or diminution of business goodwill and/or Trade Fixtures, without regard to whether payments under this Agreement or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforNote. In the event that this Lease is not terminated by reason the Company elects to restore or replace the Project, any proceeds received from any award or awards in respect of the CondemnationProject or any portion thereof made in such condemnation or eminent domain proceedings, Lessor after payment of all expenses incurred in the collection thereof and not otherwise used by the Company for the replacement or restoration by the Company of the portion of the Project taken in or affected by condemnation or by the exercise of the power of eminent domain, shall repair any damage be paid to the Premises caused by such CondemnationCompany.

Appears in 1 contract

Samples: Loan Agreement (Simpson Manufacturing Co Inc /Ca/)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee's Reserved Parking Spaces, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall shali have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall shali be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Samples: Alldigital Holdings, Inc.

Condemnation. If If, prior to the Premises Closing, all or any portion thereof are taken under part of the Property is subjected to a bona fide threat of condemnation by a body having the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnationeminent domain or condemnation (or sale in lieu thereof), Lessee mayor if Seller has received written notice that any condemnation action or proceeding with respect to the Property is contemplated by a body having the power of eminent domain (collectively, at Lessee's optiona “Taking”), to be exercised in writing within ten (10) days after Lessor Seller shall have given Lessee give Purchaser immediate written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforTaking. In the event that of any immaterial Taking with respect to the Property or any portion thereof, Seller and Purchaser shall proceed to close under this Lease is not terminated by reason Agreement. For purposes of this Agreement, the term “immaterial Taking” shall mean such instances of Taking of the CondemnationProperty: (i) which do not result in a taking of any portion of the building structure of the building occupied by the tenants under the Leases; (ii) which do not result in a decrease in the number of parking spaces on the Land below the number required by applicable zoning codes or the Leases; and (iii) which are not so extensive as to allow the tenants under the Leases to terminate the Leases or xxxxx or reduce rent payable thereunder (unless business loss or rent insurance (subject to applicable deductibles) or condemnation award proceeds shall be available in the full amount of such abatement or reduction, Lessor and Purchaser shall repair receive a credit at Closing for such deductible amount) on account of such Taking. In the event of any damage material Taking of the Property or any portion thereof, Purchaser may, at its option, by written notice to Seller given within thirty (30) days after receipt of such notice from Seller, elect to terminate this Agreement, or Purchaser may choose to proceed to close (and if necessary the Premises caused by such Condemnation.Closing Date shall be

Appears in 1 contract

Samples: Purchase and Sale Agreement (Wells Real Estate Fund Xiii L P)

Condemnation. If the Premises or any portion thereof are taken under the ------------ power of eminent domain or sold under the threat of the exercise of said power (collectively all of which are herein called '"CONDEMNATIONcondemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If It more than ten percent (10%) of any building portion the floor area of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any buildingCommon Areas designated for Lessee's parking, is taken by Condemnationcondemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If It Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion by the extent to the reduction in utility which Lessee's use of the Premises caused by is diminished. No reduction of Base Rent shall occur if the condemnation does not apply to any portion of the Premises or the parking. Any award for the taking of all or any part of the Premises under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, Lessor (whether such award shall be made as compensation for diminution in of value of the leasehold, leasehold or for the value taking of the part takenfee, or for as severance damages; provided, however, that ) less payment to Lessee shall be entitled to any compensation for Lessee's relocation expenses, expenses and/or loss of business goodwill and/or Lessee's Trade Fixtures, without regard to whether or not the unamortized value of any tenant improvements paid for by Tenant and the "bonus value" of this Lease is terminated pursuant to (i.e. the provisions of this Paragraph. All Alterations difference between the Rent payable hereunder and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property then fair market rental value of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforPremises) for the remainder of the Term. In the event that this Lease is not terminated by reason of the Condemnationsuch condemnation, Lessor shall to the extent of its net severance damages received, over and above Lessee's Share of the legal and other expenses incurred by Lessor in the condemnation matter, repair any damage to the Premises caused by such Condemnationcondemnation authority.

Appears in 1 contract

Samples: Improvement Agreement (Spectrian Corp /Ca/)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of building the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Samples: Fox Factory Holding Corp

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