Common use of EMINENT DOMAIN — PARTIAL TAKING Clause in Contracts

EMINENT DOMAIN — PARTIAL TAKING. If any part, but less than all or substantially all, of the Premises shall be so taken and this Lease shall not be terminated pursuant to Section 12.6, then the part so taken shall no longer constitute part of the Premises but this Lease shall otherwise remain unaffected by such taking; provided, however, that Tenant may elect to terminate the Lease Term in the event of: (i) a taking of more than twenty-five percent (25%) of the total rentable area of the Premises, or (ii) a taking that has a material adverse effect on Tenant’s access to the Building or the Premises, if Landlord determines that it will be unable to provide or in fact fails to provide adequate alternative access to the Premises within one hundred eighty (180) days thereafter, by giving notice of such election to Landlord not later than sixty (60) days after Tenant’s receipt from Landlord of notice of such taking or the date of such taking, whichever first occurs, or not later than thirty (30) days after such one hundred eightieth (180th) day, as the case may be. If notice of termination of this Lease shall be given pursuant to this Section, then upon such date as may be specified by Tenant by notice to Landlord, which date shall be not earlier than thirty (30) and not later than sixty (60) days after the date of Tenant’s notice, the Lease Term shall terminate as of the date specified in such notice and the rent shall be apportioned as of such date of termination. Upon a partial taking and this Lease continuing in force as to any part of the Premises, (a) the Annual Fixed Rent, Tenant’s Tax Payment and Tenant’s Share of Operating Expenses shall be appropriately reduced to reflect the part that no longer constitutes part of the Premises for the remainder of the Lease Term; and (b) Landlord shall, at its expense, restore with reasonable diligence the remaining portions of the Premises as nearly as practicable to the same condition as it was in prior to such condemnation or taking; provided, however, that Landlord shall not be obligated to expend for such restoration and for restoration of the remainder of the Building any amount in excess of the net condemnation proceeds actually received by Landlord. Tenant, promptly after the substantial completion of Landlord’s restoration work, shall use due diligence to repair and restore the Leasehold Improvements and Tenant’s Property as nearly as possible to their condition prior to such fire or other casualty. Proceeds of any award applied by the holder of any mortgage to reduction of the indebtedness secured thereby or retained by any Overlandlord as compensation for the taking shall not be deemed to have been received by Landlord.

EMINENT DOMAIN — PARTIAL TAKING. If any part, but less than all or substantially all, of the Premises shall be so taken and this Lease shall not be terminated pursuant to Section 12.6, then the part so taken shall no longer constitute part of the Premises but this Lease shall otherwise remain unaffected by such taking; provided, however, that Tenant may elect to terminate the Lease Term in the event of: (i) a taking of more than twenty-five percent (25%) percent of the total rentable area of the Premises, or (ii) a taking that has a material adverse effect on Tenant’s access to the Building or the Premises, if Landlord determines that it will be unable to provide or in fact fails to provide adequate alternative access to the Building and the Premises within one hundred eighty ninety (18090) days thereafter, by giving notice of such election to Landlord not later than sixty (60) days after Tenant’s receipt from Landlord of notice of such taking or the date of such taking, whichever first occurs, or not later than thirty (30) days after such one hundred eightieth (180th) day, as the case may be. If notice of termination of this Lease shall be given pursuant to this Section, then upon such date as may be specified by Tenant by notice to Landlord, which date shall be not earlier than thirty (30) and not later than sixty (60) days after the date of Tenant’s notice, the Lease Term shall terminate as of the date specified in such notice and the rent shall be apportioned as of such date of termination. Upon a partial taking and this Lease continuing in force as to any part of the Premises, (a) the Annual Fixed Rent, Tenant’s Tax Payment Rent and Tenant’s Share of the Excess Operating Expenses shall be appropriately equitably reduced to reflect the part that no longer constitutes part of the Premises for the remainder of the Lease Term, according to the nature and extent of the loss of use of the Premises suffered by Tenant; and (b) Landlord shall, at its expense, restore with reasonable diligence the remaining portions of the Premises as nearly as practicable to the same condition as it was in prior to such condemnation or taking; provided, however, that Landlord shall not be obligated to expend for such restoration and for restoration of the remainder of the Building any amount in excess of the net condemnation proceeds actually received by Landlord. Tenant; and provided, promptly after the substantial completion of Landlord’s restoration work, shall use due diligence further that Landlord will not be obligated to repair and restore the Leasehold Improvements and any damage to Tenant’s Property as nearly as possible to their condition prior to such fire Property, or other casualtyTenant’s Work or Alterations. Proceeds of any award applied by the holder of any mortgage to reduction of the indebtedness secured thereby or retained by any Overlandlord as compensation for the taking shall not be deemed to have been received by Landlord.

EMINENT DOMAIN — PARTIAL TAKING. (a) If such portion of the Unit shall be so taken so that substantial structural alterations or reconstruction of the Unit shall be necessary as a result of such taking (whether or not the Premises be affected), which alterations or reconstruction Landlord reasonably determines will take at least one hundred eighty (180) days to complete, or if so much of the Unit, the Common Elements or the Building shall be taken that the Board reasonably determines that the Unit or the Common Elements cannot be restored, reconstructed or replaced in a suitable manner so that the Unit may continue to be used for the purposes intended, Landlord may, at its option, terminate this Lease and the Lease Term and estate hereby granted as of the date of such vesting of title by notifying Tenant in writing of such termination within sixty (60) days following the Date of the Taking or determination of the Board, whichever is later; provided that in all such events Landlord also terminates the leases of at least fifty percent (50%) of tenants similarly affected by the taking. (b) If any part, but less than all or substantially all, of the Building, the Unit or the Premises shall be so taken and this Lease shall not be terminated pursuant to Section 12.612.7(a) above, then the part part, if any, of the Premises so taken shall no longer constitute part of the Premises but this Lease shall otherwise remain unaffected by such taking; provided, however, that Tenant may elect to terminate the Lease Term in the event of: (i) a taking of more than twenty-five ten percent (2510%) of the total rentable area of the PremisesPremises or a portion of the Premises so that Tenant reasonably determines that it cannot conduct its business in the remainder of the Premises in substantially the same manner as prior to such taking, or (ii) a taking that has a material adverse effect on Tenant’s access to the Building or the Premises, if Landlord reasonably determines that it will be unable to provide or in fact fails to provide adequate alternative access to the Premises within one hundred eighty sixty (18060) days thereafter, by giving notice of such election to Landlord not later than sixty (60) days after Tenant’s receipt from Landlord of notice of such taking or the date of such taking, whichever first occurs, or not later than thirty (30) days after such one hundred eightieth (180th) day, as the case may be. If notice of termination of this Lease shall be given pursuant to this SectionSection 12.7(b), then upon such date as may be specified by Tenant by notice to Landlord, which date shall be not earlier than thirty (30) and not later than sixty (60) days after the date of Tenant’s notice, the Lease Term shall terminate as of the date specified in such notice and the rent shall be apportioned as of such date of termination. . (c) Upon a partial taking and this Lease continuing in force as to any part of the Premises, (ai) the Annual Fixed Rent, Tenant’s Tax Payment Rent and Tenant’s Share of Taxes and Operating Expenses shall be appropriately equitably reduced to reflect the part that no longer constitutes part of the Premises for the remainder of the Lease Term, according to the nature and extent of the loss of use of the Premises suffered by Tenant; and (bii) Landlord shall, at its expense, restore or cause to be restored with reasonable diligence the remaining portions of the Premises as nearly as practicable to the same condition as it was in prior to such condemnation or taking; provided, however, that neither Landlord nor the Board shall not be obligated to expend for such restoration and for restoration of the remainder of the Unit or the Building any amount in excess of the net condemnation proceeds actually received by LandlordLandlord or the Board, as the case may be. TenantIf such proceeds shall be insufficient to effect such restoration and Landlord elects not to effect such restoration, Landlord shall promptly after notify Tenant of such fact, and within thirty (30) days thereafter, Tenant may terminate this Lease by notice to Landlord and the substantial completion of Landlord’s restoration work, Lease shall use due diligence to repair and restore the Leasehold Improvements and Tenant’s Property terminate as nearly as possible to their condition prior to such fire or other casualty. Proceeds of any award applied by the holder of any mortgage to reduction of the indebtedness secured thereby or retained by any Overlandlord date of such notice with the same force and effect as compensation for if such date were the taking shall not be deemed to have been received by Landlorddate originally established as the Expiration Date hereof.

EMINENT DOMAIN — PARTIAL TAKING. If any part, but less than all or substantially all, of the Premises shall be so taken and this Lease shall not be terminated pursuant to Section 12.6, then the part so taken shall no longer constitute part of the Premises but this Lease shall otherwise remain unaffected by such taking; provided, however, that Tenant may elect to terminate the Lease Term in the event of: (i) a taking of more than twenty-five percent (25%) percent of the total rentable area of the Premises, or (ii) a taking that has a material adverse effect on Tenant’s 's access to the Building or the Premises, if Landlord determines that it will be unable to provide or in fact fails to provide adequate alternative access to the Building and the Premises within one hundred eighty ninety (18090) days thereafter, by giving notice of such election to Landlord not later than sixty (60) days after Tenant’s 's receipt from Landlord of notice of such taking or the date of such taking, whichever first occurs, or not later than thirty (30) days after such one hundred eightieth (180th) day, as the case may be. If notice of termination of this Lease shall be given pursuant to this Section, then upon such date as may be specified by Tenant by notice to Landlord, which date shall be not earlier than thirty (30) and not later than sixty (60) days after the date of Tenant’s 's notice, the Lease Term shall terminate as of the date specified in such notice and the rent shall be apportioned as of such date of termination. Upon a partial taking and this Lease continuing in force as to any part of the Premises, (a) the Annual Fixed Rent, Tenant’s Tax Payment Rent and Tenant’s 's Share of the Excess Operating Expenses shall be appropriately equitably reduced to reflect the part that no longer constitutes part of the Premises for the remainder of the Lease Term, according to the nature and extent of the loss of use of the Premises suffered by Tenant; and (b) Landlord shall, at its expense, restore with reasonable diligence the remaining portions of the Premises as nearly as practicable to the same condition as it was in prior to such condemnation or taking; provided, however, that Landlord shall not be obligated to expend for such restoration and for restoration of the remainder of the Building any amount in excess of the net condemnation proceeds actually received by Landlord. Tenant; and provided, promptly after the substantial completion of Landlord’s restoration work, shall use due diligence further that Landlord will not be obligated to repair and restore the Leasehold Improvements and any damage to Tenant’s Property as nearly as possible to their condition prior to such fire 's Property, or other casualtyTenant's Work or Alterations. Proceeds of any award applied by the holder of any mortgage to reduction of the indebtedness secured thereby or retained by any Overlandlord as compensation for the taking shall not be deemed to have been received by Landlord.

EMINENT DOMAIN — PARTIAL TAKING. If any part, but less than all or substantially all, of the Premises shall be so taken and this Lease shall not be terminated pursuant to Section 12.6, then the part so taken shall no longer constitute part of the Premises but this Lease shall otherwise remain unaffected by such taking; provided, however, that Tenant may elect to terminate the Lease Term in the event of: (i) a taking of more than twenty-five percent (25%) of the total rentable area of the Premises, or (ii) a taking that has a material adverse effect on Tenant’s access to the Building or the Premises, if Landlord determines that it will be unable to provide or in fact fails to provide adequate alternative access to the Premises within one hundred eighty (180) days thereafter, or (iii) a taking that results in the practical taking of the whole of the Premises with respect to Tenant’s use for the operation of Tenant’s business, by giving notice of such election to Landlord not later than sixty (60) days after Tenant’s receipt from Landlord of notice of such taking or the date of such taking, whichever first occurs, or not later than thirty (30) days after such one hundred eightieth (180th) day, as the case may be. If notice of termination of this Lease shall be given pursuant to this Section, then upon such date as may be specified by Tenant by notice to Landlord, which date shall be not earlier than thirty (30) and not later than sixty (60) days after the date of Tenant’s notice, the Lease Term shall terminate as of the date specified in such notice and the rent shall be apportioned as of such date of termination. Upon a partial taking and this Lease continuing in force as to any part of the Premises, (a) the Annual Fixed Rent, Tenant’s Tax Payment Rent and Tenant’s Share of Taxes and Operating Expenses shall be appropriately equitably reduced to reflect the part that no longer constitutes part of the Premises for the remainder of the Lease Term, according to the nature and extent of the loss of use of the Premises suffered by Tenant; and (b) Landlord shall, at its expense, restore with reasonable diligence the remaining portions of the Premises as nearly as practicable to the same condition as it was in prior to such condemnation or taking; provided, however, that Landlord shall not be obligated to expend for such restoration and for restoration of the remainder of the Building any amount in excess of the net condemnation proceeds actually received by Landlord. TenantIf such proceeds shall be insufficient to effect such restoration and Landlord elects not to effect such restoration, Landlord shall promptly after notify Tenant of such fact, and within thirty (30) days thereafter, Tenant may terminate this Lease by notice to Landlord and the substantial completion Lease shall terminate as of Landlord’s restoration work, shall use due diligence to repair the date of such notice with the same force and restore effect as if such date were the Leasehold Improvements and Tenant’s Property date originally established as nearly as possible to their condition prior to such fire or other casualtythe Expiration Date hereof. Proceeds of any award applied by the holder of any mortgage to reduction of the indebtedness secured thereby or retained by any Overlandlord as compensation for the taking shall not be deemed to have been received by Landlord. (c) If a Critical Area shall be so taken and on account thereof Tenant cannot and does not use the entire Premises for the normal conduct of Tenant’s business, the rent shall be abated as of such date of the taking, and such abatement shall continue until (i) Tenant shall be able to relocate all components of Tenant’s business that occupy the Critical Areas affected by the taking to another portion the Premises not subject to the taking, or (ii) Tenant reasonably determines that the components of the Critical Area cannot reasonably be relocated to the remaining portions of the Premises, and in such event Tenant may, at its option, terminate this Lease and the Lease Term by notifying Landlord in writing of such termination within sixty (60) days following the date of the taking.