Common use of Effect on Lease Clause in Contracts

Effect on Lease. (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. If (i) the private road serving the Premises is taken by Condemnation, (ii) Landlord does not provide an alternative means of access to the Premises upon such taking, and (iii) the Premises 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. (b) If twenty-five percent (25%) or more of the Project or of the parcel(s) of land on which the Buildings are situated or of the Parking Facility or of the floor area in the Building or Buildings then leased by Tenant is taken by Condemnation, 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. (c) If all or a portion of the Premises is temporarily taken by a Condemnor for a period greater than twelve (12) consecutive months, then Tenant shall have the right to terminate this Lease by written notice to Landlord within twenty (20) days following either (i) notice from the Condemnor that the temporary taking will be for a period in excess of twelve (12) consecutive months, or (ii) the expiration of such twelve (12) consecutive month period; and for any other temporary taking, not extending beyond the end of the Term, this Lease shall remain in full force and effect.

Appears in 2 contracts

Samples: Lease Agreement (3do Co), Lease Agreement (3do Co)

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Effect on Lease. (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 taken by Condemnation will be unsuitable for Tenant's continued use, then upon notice to Landlord within thirty is greater than twenty-five percent (3025%) days after Landlord notifies Tenant of the Premises as same existed immediately prior to such Condemnation, Tenant may terminate this Lease effective as or if a portion of the Date of Condemnation. If (i) the private road serving the Premises Building is taken by Condemnation, (ii) Landlord does not provide an alternative means of Condemnation such that Tenant has no reasonable access to the Premises upon such taking, and (iii) the Premises will be unsuitable for Tenant's continued usePremises, 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. (b) If twenty-five percent (25%) or more of the Project or of the parcel(s) of land on which the Buildings are situated Land or of the Parking Facility or of the floor area in the Building or Buildings then leased by Tenant 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. (c) If twenty-five percent (25%) or more of the Parking Facility is taken by Condemnation and such reduction reduces the number of parking spaces allocated to Tenant by more than twenty-five percent (25%) and if Landlord is unable to provide to Tenant within forty-five (45) days after the Date of Condemnation, substitute parking which is reasonably satisfactory to Tenant, Tenant may elect to terminate this Lease, effective as of the expiration of such forty-five (45) day period, by notice to Landlord within thirty (30) days after the expiration of such forty-five (45)day period. (d) If all or a portion of the Premises is temporarily taken by a Condemnor for a period greater than twelve (12) consecutive months, then Tenant shall have the right to terminate this Lease by written notice to Landlord within twenty (20) days following either (i) notice from the Condemnor that the temporary taking will be for a period in excess of twelve (12) consecutive months, or (ii) the expiration of such twelve (12) consecutive month period; and for any other temporary taking, not extending beyond the end of the Term, this Lease shall remain in full force and effect.

Appears in 1 contract

Samples: Lease Agreement (Riddell Sports Inc)

Effect on Lease. (a) If all of the Premises, or so much thereof that the remaining portion of the Premises are totally cannot be used by Tenant for its permitted use, is taken by under the power of eminent domain or sold under the threat of the exercise of such power (collectively "Condemnation"), this Lease shall terminate as of the earlier of the date title vests in the condemnor or the date the condemnor is entitled to possession of the interest condemned (the "Condemnation Date"). Notwithstanding the foregoing, Landlord may prevent such termination by exercising, within forty-five (45) days of the Condemnation, any right to relocate Tenant to new Premises in the Center provided in Section 24.24 of this Lease. In all other cases, Landlord may terminate this Lease as of the Condemnation Date of Condemnation. If a if (i) the Condemnation affects any material portion but not all of the Premises or the Building, (ii) Landlord receives insufficient funds from the condemnor to complete the restoration of the Premises required under this Section, or (iii) if the Condemnation affects such a substantial portion of the Center (including the Common Facilities, parking lots or access to the Center) that it is taken by Condemnationno longer economically appropriate in Landlord's business judgment to lease the Premises on the terms and conditions of this Lease. If such Condemnation affects the Premises and this Lease remains in effect, (a) this Lease shall remain in effect; provided, however, that if terminate as to the portion of the Premises taken as of the Condemnation Date, (b) the Minimum Monthly Rent shall be equitably adjusted based upon the rental value of the Premises remaining after the Condemnation will be unsuitable for Tenant's continued use, then upon notice compared to Landlord within thirty (30) days after Landlord notifies Tenant the rental value of the Condemnation, Tenant may terminate this Lease effective as of the Date of Condemnation. If (i) the private road serving the Premises is taken by prior to Condemnation, (iic) Landlord does not provide an alternative means Tenant's Share shall be adjusted based on any changes in the Rentable Square Footage of access to the Premises upon such takingand/or the Center, and (iiid) Landlord shall, within a reasonable period of time, undertake such construction or restoration as may be reasonably necessary to place the remaining Premises will in a useable condition (provided that the cost of such construction or restoration does not exceed the amount awarded to Landlord by the condemnor for such purpose). Landlord shall not be unsuitable for responsible to restore or replace any of Tenant's continued useAlterations, then upon notice to Landlord within thirty (30) days after Landlord notifies Tenant of the Condemnationfixtures, Tenant may terminate this Lease effective as of the Date of Condemnationequipment or personal property. (b) If twenty-five percent (25%) or more of the Project or of the parcel(s) of land on which the Buildings are situated or of the Parking Facility or of the floor area in the Building or Buildings then leased by Tenant is taken by Condemnation, 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. (c) If all or a portion of the Premises is temporarily taken by a Condemnor for a period greater than twelve (12) consecutive months, then Tenant shall have the right to terminate this Lease by written notice to Landlord within twenty (20) days following either (i) notice from the Condemnor that the temporary taking will be for a period in excess of twelve (12) consecutive months, or (ii) the expiration of such twelve (12) consecutive month period; and for any other temporary taking, not extending beyond the end of the Term, this Lease shall remain in full force and effect.

Appears in 1 contract

Samples: Standard Industrial Net Lease (Jmar Technologies Inc)

Effect on Lease. (a) If the Premises Project or any portion thereof are totally taken or damaged under the power of eminent domain or by Condemnationinverse condemnation or for any public or quasi-public use, (all of which are herein called "condemnation") this Lease shall terminate as to the part so taken as of the Date of Condemnationdate the condemning authority takes title or possession, whichever first occurs. If a portion but not all so much of the Premises Project or any portion including parking is taken by Condemnation, this Lease shall remain in effect; provided, however, condemnation that if the portion of the Premises remaining after the Condemnation will be remainder is unsuitable for Tenant's continued useoccupancy for the uses and purposes for which the Project is leased, then upon Tenant shall have the option, exercisable only by written notice to Landlord within thirty (30) days after the condemning authority takes such title or possession, to terminate this Lease; provided, however, that if Landlord notifies Tenant disagrees with Tenant's determination that the portion of the Condemnation, Tenant may terminate this Lease effective as of the Date of Condemnation. If (i) the private road serving the Premises remaining after condemnation is taken by Condemnation, (ii) Landlord does not provide an alternative means of access to the Premises upon such taking, and (iii) the Premises will be unsuitable for Tenant's continued useoccupancy, then upon notice to Landlord within thirty (30) days after Landlord notifies Tenant such controversy shall be settled by arbitration in accordance with the commercial arbitration rules of the Condemnation, Tenant may terminate this Lease effective as of American Arbitration Association then in effect. In the Date of Condemnation. (b) If twenty-five percent (25%) or more event that less than all of the Project or of the parcel(s) of land on which the Buildings are situated or of the Parking Facility or of the floor area in the Building or Buildings then leased by Tenant is shall be taken by Condemnation, Landlord may condemnation and Tenant does not elect to terminate this Lease, effective as of Lease in accordance with the Date of Condemnation, by notice to Tenant within thirty (30) days after the Date of Condemnation. (c) If all or a portion of the Premises is temporarily taken by a Condemnor for a period greater than twelve (12) consecutive months, then Tenant shall have the right to terminate this Lease by written notice to Landlord within twenty (20) days following either (i) notice from the Condemnor that the temporary taking will be for a period in excess of twelve (12) consecutive months, or (ii) the expiration of such twelve (12) consecutive month period; and for any other temporary taking, not extending beyond the end of the Termforegoing, this Lease shall remain in full force and effecteffect as to the portion of the Premises remaining, except that the Monthly Rent otherwise payable hereunder shall be reduced in the same ratio that the floor area of the portion of the Project taken by such condemnation bears to the floor area immediately before such condemnation. Notwithstanding anything as to the contrary herein, in the event that more than twenty-five percent (25%) of the leasable square footage of the Project is taken by condemnation, whether or not any portion of the Premises is taken, then Landlord may, at its option, to be exercised by written notice to Tenant within sixty (60) days after the date the condemning authority shall take title or possession, whichever occurs first, terminate this Lease as of the date of the taking of such title or possession. Upon termination, this Lease shall expire and all interests of Tenant in the Project shall terminate, provided the Monthly Rent, Additional Rent and all other sums due are paid in full up to and including the date of such termination.

Appears in 1 contract

Samples: Office Lease (Hoovers Inc)

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Effect on Lease. (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 render the Premises 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. If (i) the private road serving the Premises is taken by Condemnation, (ii) Landlord does not provide an alternative means of access to the Premises upon such taking, and (iii) the Premises 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. (b) If twenty-five fifteen percent (2515%) or more of the Project or of the parcel(s) of land on which the Buildings are Building is situated or of the Parking Facility (unless Landlord can provide reasonable alternative parking reasonably proximate to the Project, and/or by valet or shuttle service) or of the floor area in the Building or Buildings then leased by Tenant 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 as reasonably and mutually determined by Landlord and Tenant, whether or not any portion of the Premises is taken, 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. Notwithstanding the foregoing, if such termination right arises solely due to a taking of a portion of the Premises, Tenant may elect to waive its right to terminate this Lease so long as Tenant no later than ten (10) days following the date Landlord tenders Landlord’s termination notice to Tenant assumes in writing all obligations with respect to any restoration required to reasonably restore the Premises following such taking (and thereafter timely performs such obligation to completion). In addition to the foregoing, Tenant shall not be entitled to terminate this Lease if the affected portion of the Project is only the Parking Facility and Landlord is able to provide reasonable alternative parking, which may include valet and shuttle services. (c) If all or a portion of the Premises is temporarily taken by a Condemnor for a period greater than twelve (12) consecutive months, then Tenant shall have the right to terminate this Lease by written notice to Landlord within twenty (20) days following either (i) notice from the Condemnor that the temporary taking will be for a period in excess of twelve (12) consecutive months, or (ii) the expiration of such twelve (12) consecutive month period; and for any other temporary taking, not extending beyond the end of the Term, this Lease shall remain in full force and effect.

Appears in 1 contract

Samples: Lease Agreement (FireEye, Inc.)

Effect on Lease. (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. If (i) the private road serving the Premises is taken by Condemnation, (ii) Landlord does not provide an alternative means of access to the Premises upon such taking, and (iii) the Premises 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. (b) If twenty-five percent (25%) or more of the Project or of the parcel(s) of land on which the Buildings are Building is situated or of the Parking Facility or of the floor area in the Building or Buildings then leased by Tenant is taken by Condemnation, or if as a result of any Condemnation (including a taking of a substantial portion of the parking areas that interferes with or adversely affects Tenant's use and enjoyment of the Premises) the Building is no longer reasonably suitable for use as an office building, or for Tenant's intended use thereof, 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 sixty (3060) days after Landlord's receipt of information on the Date extent of Condemnationthe taking. (c) If all or a portion of the Premises is or any substantial part of the parking areas are temporarily taken by a Condemnor for a period greater than twelve (12) consecutive months, then Tenant shall have the right to terminate this Lease by written notice to Landlord within twenty (20) days following either (i) notice from the Condemnor that the temporary taking will be for a period in excess of twelve (12) consecutive months, or (ii) the expiration of such twelve (12) consecutive month period; and for any other temporary taking, not extending beyond the end of the Term, this Lease shall remain in full force and effect, except if such Condemnation of the Building or parking areas deprives or materially interferes with Tenants occupancy, use or enjoyment of any material part of the Premises for a period longer than 180 days. In such event, Tenant shall have the right to terminate this Lease upon written notice to Landlord delivered within the earlier of sixty (60) days after Tenant has been notified or Tenant has reasonably determined that such temporary taking will be longer than 180 days. During any temporary taking all Base Rent and Additional Rent shall be equitably abated during such time as Tenant is deprived of the use, enjoyment or occupancy of the Premises or such use, enjoyment or occupancy is materially interfered with.

Appears in 1 contract

Samples: Lease Agreement (Pegasus Solutions Inc)

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