Common use of Election to Continue Lease Clause in Contracts

Election to Continue Lease. If neither Landlord nor Tenant elects to terminate this Lease upon a partial taking of a portion of the Premises, the Rent payable under this Lease will be diminished by an amount allocable to the portion of the Premises which was so taken or sold. If this Lease is not terminated upon a partial taking of the Building or Premises, Landlord will, at Landlord's sole expense, promptly restore and reconstruct the Building and Premises to substantially their former condition to the extent the same is feasible. However, Landlord will not be required to spend for such restoration or reconstruction an amount in excess of the net amount received by Landlord as compensation or damages for the part of the Building or Premises so taken.

Appears in 8 contracts

Samples: Office Lease Agreement (Quixote Corp), Lease Agreement (Glacier Corp), Lease Agreement (Matria Healthcare Inc)

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Election to Continue Lease. If neither Landlord nor Tenant elects to terminate this Lease upon a partial taking of a portion of the Premises, the Rent payable under this Lease will be diminished by an amount allocable to the portion of the Premises which was so taken or sold. If this Lease is not terminated upon a partial taking of the Building or Premises, Landlord will, at Landlord's ’s sole expense, promptly restore and reconstruct the Building and Premises to substantially their former condition to the extent the same is feasible. However, Landlord will not be required to spend for such restoration or reconstruction an amount in excess of the net amount received by Landlord as compensation or damages for the part of the Building or Premises so taken.

Appears in 3 contracts

Samples: Lease Agreement (Solid Power, Inc.), Office Lease Agreement (Biovest International Inc), Office Lease Agreement (Intellon Corp)

Election to Continue Lease. If neither Landlord nor Tenant elects to terminate this Lease upon a partial taking of a portion of the Premises, the Rent payable under this Lease will shall be diminished by an amount allocable to the portion of the Premises which was so taken or sold. If this Lease is not terminated upon a partial taking of the Building or Premises, Landlord willshall, at Landlord's ’s sole expense, promptly restore and reconstruct the Building and Premises to substantially their former condition to the extent the same is feasible. However, Landlord will shall not be required to spend for such restoration or reconstruction an amount in excess of the net amount received by Landlord as compensation or damages for the part of the Building or Premises so taken.

Appears in 2 contracts

Samples: Office Lease (GrubHub Inc.), Office Lease (Learning Tree International Inc)

Election to Continue Lease. If neither Landlord nor Tenant elects to terminate this Lease upon a partial taking of a portion of the Premises, the Rent payable under this Lease will be diminished by an amount allocable to the portion of the Premises which was so taken or sold. If this Lease is not terminated upon a partial taking of the Project, Building or Premises, Landlord will, at Landlord's ’s sole expense, promptly restore and reconstruct the Project, Building and Premises to substantially their former condition to the extent the same is feasible. However, Landlord will not be required to spend for such restoration or reconstruction an amount in excess of the net amount received by Landlord as compensation or damages for the part of the Project, the Building or Premises so taken.

Appears in 2 contracts

Samples: Lease Agreement (eHealth, Inc.), Lease Agreement (Singulex Inc)

Election to Continue Lease. If neither Landlord nor Tenant elects to terminate this Lease upon a partial taking of a portion of the Premises, the Rent payable under this Lease will be diminished by an amount allocable to the portion of the Premises which was so taken or sold. If this Lease is not terminated upon a partial taking of the Building Project, Buildings or Premises, Landlord will, at Landlord's ’s sole expense, promptly restore and reconstruct the Building Project, Buildings and Premises to substantially their former condition to the extent the same is feasible. However, Landlord will not be required to spend for such restoration or reconstruction an amount in excess of the net amount received by Landlord as compensation or damages for the part of the Building Project, the Buildings or Premises so taken.

Appears in 1 contract

Samples: Lease Agreement (Exelixis, Inc.)

Election to Continue Lease. If neither Landlord nor Tenant elects not to terminate this Lease upon a partial taking of a portion of the Premises, the Rent payable under this Lease will be diminished by an amount allocable to the portion of the Premises which was so taken or sold. If this Lease is not terminated upon a partial taking of the Building or Premises, Landlord will, at Landlord's ’s sole expense, promptly restore and reconstruct the Building and Premises to substantially their former condition to the extent the same is feasible. However, Landlord will not be required to spend for such restoration or reconstruction an amount in excess of the net amount received by Landlord as compensation or damages for the part of the Building or Premises so taken.

Appears in 1 contract

Samples: Building Addition and Lease Agreement (Telvent Git S A)

Election to Continue Lease. If neither Landlord nor Tenant elects to terminate this Lease upon a partial taking of a portion of the Premises, the Rent payable under this Lease will shall be diminished by an amount allocable to the portion of the Premises which was so taken taken, sold or soldrendered unusable. If this Lease is not terminated upon a partial taking of the Building or Premises, Landlord willshall, at Landlord's ’s sole expense, promptly restore and reconstruct the Building and Premises to substantially their former condition to the extent the same is feasible. However, Landlord will shall not be required to spend for such restoration or reconstruction an amount in excess of the net amount received by Landlord as compensation or damages for the part of the Building or Premises so taken.

Appears in 1 contract

Samples: Office Lease (Cra International, Inc.)

Election to Continue Lease. If neither Landlord nor Tenant elects to terminate this Lease upon a partial taking of a portion of the Building or the Premises, the Rent payable under this Lease will be diminished by an amount allocable to the portion of the Building or Premises which was so taken or sold. If this Lease is not terminated upon a partial taking of the Building or the Premises, Landlord will, at Landlord's ’s sole expense, promptly restore and reconstruct the Building and the Premises to substantially their former condition to the extent the same is feasible. However, Landlord will not be required to spend for such restoration or reconstruction an amount in excess of the net amount received by Landlord as compensation or damages for the part of the Building or the Premises so taken.

Appears in 1 contract

Samples: Lease Agreement (Encision Inc)

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Election to Continue Lease. If neither Landlord nor Tenant elects to terminate this Lease upon a partial taking of a portion of the Premises, the Rent payable under this Lease will be diminished by an amount allocable equitably reduced to reflect the portion loss of the Premises which was space or facilities so taken or sold. If this Lease is not terminated upon a partial taking of the Building or Premises, Landlord will, at Landlord's sole expense, promptly restore and reconstruct the Building and Premises to substantially their former condition to the extent the same is feasible. However, Landlord will not be required to spend for such restoration or reconstruction an amount in excess of the net amount received by Landlord as compensation or damages for the part of the Building or Premises so taken.

Appears in 1 contract

Samples: Office Lease Agreement (S1 Corp /De/)

Election to Continue Lease. If neither Landlord nor Tenant elects to terminate this Lease upon a partial taking of a portion of the Premises, the Rent payable under this Lease will be diminished by an amount allocable to the portion of the Premises which was so taken or sold. If this Lease is not terminated upon a partial taking of the Building or Premises, Landlord will, at Landlord's sole expense, promptly restore and reconstruct the Building and Premises to substantially their former condition to the extent the same is feasible. However, Landlord will not be required to spend for such restoration or reconstruction an amount in excess of the net amount received by Landlord as compensation or damages for the part of the Building or Premises so taken.. 21 33

Appears in 1 contract

Samples: Lease Assignment (Odyssey Re Holdings Corp)

Election to Continue Lease. If neither Landlord nor Tenant elects does not elect to terminate this Lease upon a partial taking of a portion of the Premises, the Rent payable under this Lease will be diminished by an amount allocable to the portion of the Premises which was so taken or soldsold as reasonably determined by Landlord. If this Lease is not terminated upon a partial taking of the Project, Building or Premises, Landlord will, at Landlord's ’s sole expense, promptly restore and reconstruct the Project, Building and Premises to substantially their former condition prior to the extent the same is feasibletaking. However, Landlord will not be required to spend for such restoration or reconstruction an amount in excess of the net amount received by Landlord as compensation or damages for the part of the Project, the Building or Premises so taken.

Appears in 1 contract

Samples: Lease Agreement (First California Financial Group, Inc.)

Election to Continue Lease. If neither Landlord nor Tenant elects to terminate this Lease upon a partial taking of a portion of the Premisesas provided above, the Rent payable under this Lease will be diminished by an amount allocable to the portion of the Premises which was so taken or sold, as reasonably determined by Landlord. If this Lease is not terminated upon a partial taking of the Project, Building or Premises, Landlord will, at Landlord's ’s sole expense, promptly restore and reconstruct the Project, Building and Premises to substantially their former condition to the extent the same is feasible. However, Landlord will not be required to spend for such restoration or reconstruction an amount in excess of the net amount received by Landlord as compensation or damages for the part of the Project, the Building or Premises so taken.

Appears in 1 contract

Samples: Lease Agreement (Ryland Group Inc)

Election to Continue Lease. If neither Landlord nor Tenant elects to terminate this Lease upon a partial taking of a portion of the Premises, the Rent payable under this Lease will be diminished by an amount allocable to the portion of the Premises which was so taken or sold. If this Lease is not terminated upon a partial taking of the Building or Premises, Landlord will, at Landlord's sole expense, promptly restore and reconstruct the Building and Premises to substantially their former condition to the the, extent the same is feasible. However, Landlord will not be required to spend for such restoration or reconstruction an amount in excess of the net amount received by Landlord as compensation or damages for the part of the Building or Premises so taken.

Appears in 1 contract

Samples: Lease Agreement (Signal Apparel Company Inc)

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