Effect of Partial Condemnation. In the event that only a part of the Premises shall be taken by Condemnation and the remaining Premises are suitable for general office use without material interference with Tenant’s business operations and Tenant shall have reasonable, convenient access to and from the Premises, the Term shall expire as to that portion of the Premises condemned effective as of the date of the vesting of title in the condemning authority, and this Lease shall continue in full force and effect as to the part of the Premises not so taken. In the event of a partial Condemnation of the Premises which results in a lack of reasonable, convenient access to and from the Premises or which results in insufficient space for Tenant to carry on its business without material interference with its business, Tenant shall have the right to terminate this Lease if Landlord cannot relocate Tenant to comparable space elsewhere in the Building following the effective date of the Condemnation.
Effect of Partial Condemnation. In the event of a partial condemnation of the Premises, this Lease shall terminate as to the portion of the Premises taken on Surrender Date, but shall remain in full force and effect as to the remainder of the Premises; provided, however, that promptly after the Surrender Date, Lessor shall restore, at Lessor's own cost and expense, the improvements on the remainder of the Premises to a condition making the Premises tenantable by Lessee for the uses permitted by this Lease. Any rent payable under this Lease after the Surrender Date shall be reduced by the percentage the ground area of the portion taken by eminent domain bears to the total ground area of the Premises on the date of this Lease. In addition, the rent payable under this Lease shall be further abated during the time and to the extent Lessee is prevented from occupying all of the remainder of the Premises by the work of restoration required by this section to be performed by Lessor.
Effect of Partial Condemnation. In the event a portion of the Premises are appropriated or taken and Lessee, at its sole discretion, determines that the remainder thereof is not suitable for the continued use of the Premises by Lessee for conducting Xxxxxx’s operations thereon in the same manner and extent as carried on prior to such taking, Lessee shall have the right to terminate this Lease upon giving City written notice of its intent to exercise said right. If Lessee exercises its right to terminate this Lease pursuant to this Subsection 40.2, Lessee shall give City thirty (30) days prior written notice of the effective date of said termination.
40.2.1. If, in the event of such taking of a portion of the Premises, Xxxxxx does not terminate this Lease, this Lease shall continue in full force and effect as to the part not taken, and the Rent to be paid by Lessee during the remainder of the term shall be reduced in the same proportion as the land taken by eminent domain bears to the area of the Premises before the taking.
40.2.2. In determining whether a partial condemnation renders the remainder of the Premises unsuitable for the use then being made of the Premises by Xxxxxx, Lessee, among other things, shall take into consideration the cost of restoration, the area of the remaining improvements and the suitability of the remaining Premises for conducting Xxxxxx’s operations thereon in the same manner and extent as carried on prior to such taking.
40.2.3. Should Lessee terminate this Lease pursuant to this Section 40, title to all Recreational Improvements constructed or installed by Lessee upon the Premises and which have not already vested in City shall thereupon vest in City.
Effect of Partial Condemnation. In the event that only a part of the Premises shall be taken by Condemnation and the remaining Premises are suitable for the Permitted Uses without material interference with Tenant’s business operations and Tenant shall have reasonable, convenient access to and from the Premises, the Term shall expire as to that portion of the Premises condemned effective as of the date of the vesting of title in the condemning authority, and this Lease shall continue in full force and effect as to the part of the Premises not so taken. In the event of a partial Condemnation of the Premises or the Common Areas which results in (i) a lack of reasonable, convenient access to and from the Premises and Landlord is unable to promptly make reasonable alternative arrangement to replace the same, (ii) insufficient space within the Premises for Tenant to carry on its business without material interference with its business, or (iii) either thirty-three percent (33%) of the parking spaces available for Tenant’s use in accordance Section 1.3 or all loading dock facilities serving the Building shall be taken, Tenant shall have the right to terminate this Lease.
Effect of Partial Condemnation. In the event a portion of the Premises shall be so appropriated or taken and the remainder of the Premises shall not be suitable for the use then being made of the Premises by Xxxxxx, Lessee shall have the right to terminate this Agreement as of the date of the taking on giving to Lessor written notice of termination within thirty (30) days after Lessor has notified Lessee in writing that the Premises has been so appropriated or taken.
Effect of Partial Condemnation. IN THE EVENT THAT ONLY A PART OF THE PREMISES SHALL BE TAKEN BY CONDEMNATION AND TENANT SHALL HAVE REASONABLE, CONVENIENT ACCESS TO AND FROM THE PREMISES, THE TERM SHALL EXPIRE AS TO THAT PORTION OF THE PREMISES CONDEMNED EFFECTIVE AS OF THE DATE OF THE VESTING OF TITLE IN THE CONDEMNING AUTHORITY, AND THIS LEASE SHALL CONTINUE IN FULL FORCE AND EFFECT AS TO THE PART OF THE PREMISES NOT SO TAKEN.
Effect of Partial Condemnation. If a portion of the Improvements or Premises or any other improvements thereon are taken by Condemnation, this Ground Lease shall remain in effect, except that Tenant may elect to terminate this Ground Lease if the remaining portion of the Premises or Improvements is rendered unsuitable (as defined herein) for Tenant’s continued use. The remaining portion of the Improvements or the Premises shall be deemed unsuitable for Tenant’s continued use if, following a reasonable amount of reconstruction, Tenant’s business in the Improvements could not be operated at an economically feasible level. Tenant must exercise its right to terminate by giving Landlord written notice of its election within 90 days after the nature and extent of the taking have been finally determined. Such notice shall also specify the date of termination, which shall not be prior to the Date of Taking. Failure to properly exercise the election provided for in this Section 12.4 will result in this Ground Lease continuing in full force and effect.
Effect of Partial Condemnation. If a portion of the demised premises shall be so appropriated or taken and the remainder of the property shall not be suitable for the use then being made of the property by Lessee, or if the remainder of the property is not one undivided parcel of property, Lessee shall have the right to terminate this lease agreement as of the date of the taking on giving to Lessor written notice of termination within thirty (30) days after Lessor has notified Lessee in writing that the property has been so appropriated or taken.
Effect of Partial Condemnation. In the event a portion of the Demised ------------------------------ Premises shall be so appropriated or taken and the remainder of the property shall not be suitable for the use then being made of the property by Lessee, or if the remainder of the property is not one undivided parcel of property, Lessee shall have the right to terminate this Lease as of the date of such taking on giving to Lessor written notice of such termination within thirty (30) days after Lessor has notified Lessee in writing that the property has been so appropriated or taken. In the event of such partial taking and Lessee does not so terminate this Lease, then this Lease shall continue in full force and effect as to the part not taken, and the rental to be paid by Lessee during the remainder of the term, subject to adjustment as provided in the rental adjustment provisions of Section Three hereof, shall be renegotiated but in no event reduced to less than seventy-five percent (75%) of the rent then being paid and any such adjustment shall not affect or change the times at which Lessor may require an adjustment in rent under the rental adjustment provisions of Section Three hereof.
Effect of Partial Condemnation. In the event a portion of the Leased Area shall be so appropriated or taken and the remainder of the property is not then suitable for the use as a YMCA facility, the YMCA shall have the right to terminate this Lease Agreement as of the date of the taking on giving to the Board written notice of termination within sixty (60) days after the Board has notified the YMCA in writing that the property has been so appropriated or taken. If there is a partial taking and the YMCA does not so terminate this Lease Agreement, then this Lease Agreement shall continue in full force and effect as to the part not taken.
