Common use of Constructive Taking of Entire Premises Clause in Contracts

Constructive Taking of Entire Premises. In the event of a taking by eminent domain of a material part of but less than all of the Building, if Landlord determines that the remaining portions of the Building cannot be economically and effectively used by it (whether on account of physical, economic, aesthetic or other reasons) or if Landlord determines the Building should be restored in such a way as to materially alter the Premises, then Landlord shall forward a written notice to Tenant of such determination not more than sixty (60) days after the date of taking. The term of this Lease shall expire upon the date specified by Landlord in such notice but not earlier than sixty (60) days after the date of such notice.

Appears in 2 contracts

Samples: Office Lease Agreement (Pac-West Telecomm Inc), Office Lease Agreement (Exodus Communications Inc)

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Constructive Taking of Entire Premises. In the event of a taking by eminent domain of a material part of but less than all of the Building, if where Landlord determines shall determine that the remaining portions of the Building cannot be economically and effectively used by it (whether on account of physical, economic, aesthetic or other reasons) or if where the Landlord determines the Building should be restored in such a way as to materially alter the Premises, then Landlord shall forward a written notice to Tenant of such determination not more than sixty (60) days after the date of taking. The term terms of this Lease shall expire upon the such date specified by as Landlord shall specify in such notice but not earlier than sixty (60) days after the date of such notice. In the event of a taking of a material part, but less than all, of the Premises, Tenant shall have the right to terminate this Lease as of the date of such taking.

Appears in 1 contract

Samples: Lease Agreement (Freeshop Com Inc)

Constructive Taking of Entire Premises. In the event of a taking by eminent domain of a material part of but less than all of the Building, if where Landlord determines shall reasonably determine that the remaining portions of the Building Premises cannot be economically and effectively used by it (whether on account of physical, economic, aesthetic or other reasons) ), or if Landlord determines if, in the opinion of Landlord, the Building should be restored in such a way as to materially alter the PremisesPremises materially, then Landlord shall forward a written notice to Tenant of such determination not more than sixty sixty, (60) days after the date of taking. The term of this Lease shall expire upon the such date specified by as Landlord shall specify in such notice but not earlier than sixty (60) days after the date taking of such noticepossession pursuant to the taking.

Appears in 1 contract

Samples: Sublease Agreement (Avenue a Inc)

Constructive Taking of Entire Premises. In the event of a taking by eminent domain of a material part of but less than all of the Building, if where Landlord determines shall reasonably determine that the remaining portions of the Building Premises cannot be economically and effectively used by it (whether on account of physical, economic, aesthetic or other reasons) ), or if Landlord determines if, in the opinion of Landlord, the Building should be restored in such a way as to materially alter the PremisesPremises materially, then Landlord shall forward a written notice to Tenant of such determination not more than sixty (60) days after the date of taking. The term of this Lease shall expire upon the such date specified by as Landlord shall specify in such notice but not earlier than sixty (60) days after the date of such notice.

Appears in 1 contract

Samples: Lease Agreement (Realnetworks Inc)

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Constructive Taking of Entire Premises. In the event of a taking by eminent domain of a material part of but less than all of the Building, if Landlord determines that the remaining portions of the Building cannot be economically and effectively used by it (whether on account of physical, economic, aesthetic or other reasons) or if Landlord determines the Building should be restored in such a way as to materially alter the Premises, then Landlord shall forward a written notice to Tenant of such determination not more than sixty (60) days after the date of taking. The term Term of this Lease shall expire upon the date specified by Landlord in such notice but not earlier than sixty (60) days after the date of such notice.

Appears in 1 contract

Samples: Office Lease Agreement (Dwango North America Corp)

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