Constructive Total Condemnation Sample Clauses

Constructive Total Condemnation. If a Condemnation of less than the whole of the applicable Leased Property renders such Leased Property Unsuitable for Its Primary Intended Use, Tenant shall irrevocably offer to Landlord, by Notice to Landlord within sixty (60) days after the Date of Taking, the right either (a) to have Tenant purchase such Leased Property from Landlord within one hundred twenty (120) days of such Notice for a purchase price equal to the greater of (i) the Adjusted Purchase Price of such Leased Property or (ii) the Fair Market Value Purchase Price of such Leased Property immediately prior to such Condemnation or (b) to terminate this Agreement with respect to the affected Leased Property. Failure by Landlord to elect clause (a) or (b) above in response to Tenant's Notice of such offer within thirty (30) days following the date of Tenant's Notice shall be deemed an election by Landlord to sell such Leased Property to Tenant in accordance with clause (a) preceding. In the event Landlord elects to terminate this Agreement with respect to the affected Leased Property, the Rent for such Leased Property shall abate in its entirety on the Date of Taking, the applicable Lease ▇▇▇▇l terminate and Tenant and Landlord shall seek the Award for their interests in such Leased Property as provided in Section 11.5. In the event Tenant purchases such Leased Property as provided in this Section 11.1.2, the Tenant shall be entitled to receive the Award that the Landlord would have been entitled to receive had it made the election described in clause (b) above.