Common use of Effect on Lease Clause in Contracts

Effect on Lease. 1. If the Premises are totally taken by Condemnation, this Lease shall terminate as of the Date of Condemnation. If a portion but not all of the Premises is taken by Condemnation, this Lease shall remain in effect; provided, however, that if the portion of the Premises remaining after the Condemnation will be unsuitable for Tenant’s continued use, then upon notice to Landlord within thirty (30) days after Landlord notifies Tenant of the Condemnation, Tenant may terminate this Lease effective as of the Date of Condemnation. (a) If twenty-five percent (25%) or more of the Land or of the Parking Facility or of the floor area in the Building is taken by Condemnation, or if as a result of any Condemnation the Building is no longer reasonably suitable for use as an office building, whether or not any portion of the Premises is taken, Landlord may elect to terminate this Lease, effective as of the Date of Condemnation, by notice to Tenant within thirty (30) days after the Date of Condemnation. (b) If all or a portion of the Premises is temporarily taken by a Condemner for a period not extending beyond the end of the Term, this Lease shall remain in full force and effect.

Appears in 2 contracts

Samples: Office Lease Agreement (Rain Therapeutics Inc.), Office Lease Agreement (Rain Therapeutics Inc.)

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Effect on Lease. 1. (a) If the Premises are totally taken by Condemnation, this Lease shall terminate as of the Date of Condemnation. If a portion but not all of the Premises is taken by Condemnation, this Lease shall remain in effect; provided, however, that if the portion of the Premises remaining after the Condemnation will be unsuitable for Tenant’s Xxxxxx's continued use, then upon notice to Landlord within thirty (30) days after Landlord notifies Tenant of the Condemnation, Tenant may terminate this Lease effective as of the Date of Condemnation. (ab) If twenty-five percent (25%) or more of the Land or of the Parking Facility or of the floor area in the Building is taken by Condemnation, or if as a result of any Condemnation the Building is no longer reasonably suitable for use as an office building, whether or not any portion of the Premises is taken, Landlord may elect to terminate this Lease, effective as of the Date of Condemnation, by notice to Tenant within thirty (30) days after the Date of Condemnation. (bc) If all or a portion of the Premises is temporarily taken by a Condemner Condemnor for a period not extending beyond the end of the Term, this Lease shall remain in full force and effect.

Appears in 1 contract

Samples: Lease Agreement (Asi Solutions Inc)

Effect on Lease. 1. (a) If the Premises are totally taken by Condemnation, this Lease shall terminate as of the Date of Condemnation. If a portion but not all of the Premises is taken by Condemnation, this Lease shall remain in effect; provided, however, that if the portion of the Premises remaining after the Condemnation will be unsuitable for Tenant’s 's continued use, then upon notice to Landlord within thirty (30) days after Landlord notifies Tenant of the Condemnation, Tenant may terminate this Lease effective as of the Date of Condemnation. (ab) If twenty-twenty five percent (25%) or more of the Land or of the Parking Facility or of the floor area in the Building is taken by Condemnation, or if as a result of any Condemnation the Building is no longer reasonably suitable for use as an office building, whether or not any portion of the Premises is taken, Landlord may elect to terminate this Lease, effective as of the Date of Condemnation, by notice to Tenant within thirty (30) days after the Date of Condemnation. (bc) If all or a portion of the Premises is temporarily taken by a Condemner Condemnor for a period not extending beyond the end of the Term, this Lease shall remain in full force and effect.

Appears in 1 contract

Samples: Lease Agreement (Crossworlds Software Inc)

Effect on Lease. 1. (a) If the Premises are totally taken by Condemnation, this Lease shall terminate as of the Date of Condemnation. If a portion but not all of the Premises is taken by Condemnation, this Lease shall remain in effect; provided, however, that if the portion of the Premises remaining after the Condemnation will be unsuitable for Tenant’s continued use, then upon notice to Landlord within thirty (30) days after Landlord notifies Tenant of the Condemnation, Tenant may terminate this Lease effective as of the Date of Condemnation. (ab) If twenty-five percent (25%) or more of the Land or of the Parking Facility or of the floor area in the Building is taken by Condemnation, or if as a result of any Condemnation the Building is no longer reasonably suitable for use as an office building, whether or not any portion of the Premises is taken, Landlord may elect to terminate this Lease, effective as of the Date of Condemnation, by notice to Tenant within thirty (30) days after the Date of Condemnation. (bc) If all or a portion of the Premises is temporarily taken by a Condemner Condemnor for a period not extending beyond the end of the Term, this Lease shall remain in full force and effect.

Appears in 1 contract

Samples: Office Lease Agreement (San Holdings Inc)

Effect on Lease. 1. If the Premises are totally taken by Condemnation, this Lease shall terminate as of the Date of Condemnation. If a portion but not all of the Premises is taken by Condemnation, this Lease shall remain in effect; provided, however, that if the portion of the Premises remaining after the Condemnation will be unsuitable for Tenant’s Xxxxxx's continued use, then upon notice to Landlord within thirty (30) days after Landlord notifies Tenant of the Condemnation, Tenant may terminate this Lease effective as of the Date of Condemnation. (a) . If twenty-five percent (25%) or more of the Land or of the Parking Facility or of the floor area in the Building is taken by Condemnation, or if as a result of any Condemnation the Building Premises is no longer reasonably suitable for use as an office building, whether or not any portion of the Premises is takenPermitted Use, Landlord may elect to terminate this Lease, effective as of the Date of Condemnation, by notice to Tenant within thirty (30) days after the Date of Condemnation. (b) . If all or a portion of the Premises is temporarily taken by a Condemner Condemnor for a period not extending beyond the end of the Term, this Lease shall remain in full force and effect.

Appears in 1 contract

Samples: Asset Purchase Agreement (C21 Investments Inc.)

Effect on Lease. 1. (a) If the Premises are totally taken by Condemnation, this Lease shall terminate as of the Date of Condemnation. If a portion but not all of the Premises is taken by Condemnation, this Lease shall remain in effect; provided, however, that if the portion of the Premises remaining after the Condemnation will be unsuitable for Tenant’s continued use, then upon notice to Landlord within thirty (30) days after Landlord notifies Tenant of the Condemnation, Tenant may terminate this Lease effective as of the Date of Condemnation. (ab) If twenty-five percent (25%) or more of the Land or of the Parking Facility or of the floor area in the Building Property is taken by Condemnation, or if as a result of any Condemnation the Building Premises is no longer reasonably suitable for Tenant’s use as an office buildingdescribed in Section 5 herein, whether or not any portion of the Premises is taken, then Landlord or Tenant may elect to terminate this Lease, effective as of the Date of Condemnation, by notice to Tenant the other party within thirty (30) days after the Date of Condemnation. (b) If all or a portion of the Premises is temporarily taken by a Condemner for a period not extending beyond the end of the Term, this Lease shall remain in full force and effect.

Appears in 1 contract

Samples: Lease Agreement (PharMEDium Healthcare Holdings, Inc.)

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Effect on Lease. 1. (a) If the Premises are totally taken by Condemnation, the term of this Lease shall terminate as of the Date of Condemnation. If a portion but not all of the Premises is taken by Condemnation, this Lease shall remain in effect; provided, however, that if the portion of the Premises or Building remaining or access thereto after the Condemnation will be unsuitable unreasonable for Tenant’s continued use, then upon notice to Landlord within thirty (30) days after Landlord notifies Tenant of the Condemnation, Tenant may terminate the term of this Lease effective as of the Date of Condemnation. (a) If twenty-five percent (25%) ; and if it shall be uneconomical or more of impractical to continue to own or operate the Land or of the Parking Facility or of the floor area in the Building is taken Property as affected by Condemnation, or if as a result of any such Condemnation the Building is no longer reasonably suitable for use as an office building, whether or not any portion of the Premises is taken, Landlord may elect to terminate this Lease, effective as of the Date of Condemnation, by then upon notice to Tenant within thirty (30) days after notice of such Condemnation, Landlord may terminate the term of this Lease effective as of the Date of Condemnation. (b) If all or a portion of the Premises is temporarily taken by a Condemner Condemnor for a period not extending beyond the end of the Termterm, this Lease shall remain in full force and effect.

Appears in 1 contract

Samples: Lease Agreement (Five Star Quality Care Inc)

Effect on Lease. 1. (a) If the Premises are totally taken by Condemnation, this Lease shall terminate as of the Date of Condemnation. If a portion but not all of the Premises is taken by Condemnation, this Lease shall remain in effect; provided, however, that if the portion of the Premises remaining after the Condemnation will be unsuitable for Tenant’s continued use, then upon notice to Landlord within thirty (30) days after Landlord notifies Tenant of the Condemnation, Tenant may terminate this Lease effective as of the Date of Condemnation. (ab) If twenty-five percent (25%) or more of the Land or of the Parking Facility or of the floor area in the Building is taken by Condemnation, or if as a result of any Condemnation the Building is no longer reasonably suitable for use as an office building, whether or not any portion of the Premises is taken, Landlord may elect to terminate this Lease, effective as of the Date of Condemnation, by notice to Tenant within thirty (30) days after the Date of Condemnation. (bc) If all or a portion of the Premises is temporarily taken by a Condemner for a period not extending beyond the end of the TermTerm or exceeding 180 days, this Lease shall remain in full force and effect.

Appears in 1 contract

Samples: Sub Sublease Agreement (Enernoc Inc)

Effect on Lease. 1. (a) If the Premises are totally taken by Condemnation, this Lease shall terminate as of the Date of Condemnation. If a portion but not all of the Premises is taken by Condemnation, this Lease shall remain in effect; provided, provided however, that if the portion of the Premises remaining after the Condemnation will be unsuitable for Tenant’s continued use, then upon notice to Landlord within thirty (30) days after Landlord notifies Tenant of the Condemnation, Tenant may terminate this Lease effective as of the Date of Condemnation. (ab) If twenty-five percent (25%) or more of the Land Building, the Property or of the Parking Facility or of the floor area Rentable Area in the Building is taken by Condemnation, or if as a result of any Condemnation the Building is no longer reasonably suitable for use as an office building, whether or not any portion of the Premises is taken, Landlord may elect to terminate this Lease, effective as of the Date of Condemnation, by notice to Tenant within thirty (30) days after the Date of Condemnation. (bc) If all or a portion of the Premises is temporarily taken by a Condemner Condemnor for a period not extending beyond the end of the Term, this Lease shall remain in full force and effect.

Appears in 1 contract

Samples: Sublease Agreement (Everspin Technologies Inc)

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