Common use of Effect of Taking Clause in Contracts

Effect of Taking. If during the term hereof there shall be a ---------------- total or partial taking under the power of eminent domain, then the Leasehold Estate of Developer in and to the Premises, in the event of a total taking, or the portion thereof taken, in the event of a partial taking, shall cease and terminate, as of the date of taking thereof. If this Lease is so terminated in whole or in part, all Ground Rent and other charges payable by Developer to Landlord hereunder attributable to the Premises, or portion thereof taken, shall be paid by Developer up to and prorated through the date of taking by the condemnor. Any portion of the security deposit provided for in subsection 16.1.1 fairly attributable to the terminated portion of the Leasehold Estate shall be repaid to Developer and the parties shall thereupon be released from all further liability in relation thereto.

Effect of Taking. If during the term hereof there shall be a ---------------- total or partial taking under the power of eminent domain, then the Leasehold Estate of Developer in and to the Premises, in the event of a total taking, or the portion thereof taken, in the event of a partial taking, shall cease and terminate, as of the date of taking thereof. If this Lease is so terminated in whole or in part, all Ground Rent and other charges payable by Developer to Landlord hereunder attributable to the Premises, or portion thereof taken, shall be paid by Developer up to and prorated through the date of taking by the condemnor. Any portion of the security deposit provided for in subsection 16.1.1 fairly attributable to the terminated portion of the Leasehold Lease-hold Estate shall be repaid to Developer and the parties shall thereupon be released from all further liability in relation thereto.