Eminent Domain. a. If during the Term all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by written notice to the Landlord within ninety (90) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such taking.
Appears in 3 contracts
Samples: Ground Lease, Ground Lease, Ground Lease
Eminent Domain. a. If during In the Term all event that the whole or substantially all of the Land and the Improvements Leased Premises shall be condemned or taken in the any manner (including agreement between Landlord and any governmental authority authorized to exercise of the power of eminent domain such right) for any public or by private purchase in lieu thereofquasi-public use, then this Lease shall forthwith cease and terminate on as of the date of vesting of title and the Rent due from Tenant hereunder shall be apportioned and paid to such date of vesting. In the event that only a part of the Leased Premises consisting of less than substantially all thereof shall be so condemned or taken, then effective as of the date of vesting of title, the Rent reserved hereunder for such part shall be equitably abated and this Lease shall continue as to such part not so taken. If a substantial part or the whole of the Leased Premises is taken for a term of less than twelve (12) months, the Lease shall remain in full force and effect, except that Rent shall xxxxx during the term of such temporary taking as to the portion of the Leased Premises so taken. In the event of any condemnation or taking, Landlord shall be entitled to receive the entire award in the taking authority. The award(s) condemnation proceeding, including any award made for the value of the estate vested by this Lease in Tenant, and Tenant hereby expressly assigns to Landlord any and all right, title and interest of Tenant now or hereafter arising in or to any such taking award or any part thereof, and Tenant shall be shared by entitled to receive no part of such award. Notwithstanding the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereofforegoing, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by written notice to the Landlord within ninety (90) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land a separate award for its trade fixtures, equipment and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingrelocation costs.
Appears in 3 contracts
Samples: Lease Agreement, Lease Agreement (CONTRAFECT Corp), Lease Agreement (CONTRAFECT Corp)
Eminent Domain. a. If during (a) In the Term all event that title to the whole or substantially all any part of the Land Premises shall be lawfully condemned or taken in any manner for any public or quasi-public use, this Lease and the Improvements term and estate hereby granted shall be taken in the exercise forthwith cease and terminate as of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title and the Landlord shall be entitled to receive the entire award, the Tenant hereby assigning to the Landlord the Tenant’s interest therein, if any. However, nothing herein shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award made to Tenant for the taking of personal property or fixtures belonging to Tenant or for the interruption of or damage to Tenant’s business or for Tenant’s moving expenses.
(b) In the event that title to a part of the Building other than the Premises shall be so condemned or taken, the Landlord may terminate this Lease and the term and estate hereby granted by notifying the Tenant of such termination within sixty (60) days following the date of vesting of title, and this Lease and the term and estate hereby granted shall expire on the date specified in the taking authority. The award(snotice of termination, not less than sixty (60) days after the giving of such notice, as fully and completely as if such date were the date hereinbefore set for any such taking the expiration of the term of this Lease, and the Rent hereunder shall be shared by the Landlord and the Tenant based on the relative value apportioned as of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the awardsuch date.
b. If during (c) In the Term event of any condemnation or taking of any portion of the parking area of the Property, which does not result in a reduction of the parking ratio to less than all or substantially all one space for each 375 square feet of leased area, the terms of this Lease shall continue in full force and effect. If more of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereofProperty is taken, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant either party shall have the right to terminate this Lease by upon giving written notice to the Landlord other party within ninety thirty (9030) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such taking.
(d) For the purpose of this Section 14, a sale to a public or quasi-public authority under threat of condemnation shall constitute a vesting of title and shall be constructed as a taking by such condemning authority.
Appears in 3 contracts
Samples: Office Lease (Alimera Sciences Inc), Office Lease (Alimera Sciences Inc), Office Lease (Alimera Sciences Inc)
Eminent Domain. a. If during the Term all or substantially all any part of the Land and the Improvements Premises shall be taken in the exercise of by any public or quasi-public authority under the power of eminent domain or by private purchase conveyance in lieu thereof, then this Lease lease shall terminate as to any portion of the Premises so taken or conveyed on the date of vesting of when title vests in the taking authority. The award(s) for condemnor, and Landlord shall be entitled to any and all payments, income, rent, award or any interest therein whatsoever which may be paid or made in connection with such taking or conveyance. Tenant shall have no claim against Landlord or otherwise for the value of any unexpired term of this lease. Notwithstanding the foregoing, Tenant shall be shared entitled to any compensation for depreciation to and cost of removal of Tenant's equipment and fixtures and any compensation for its relocation expenses necessitated by such taking, but in each case only to the Landlord and extent the Tenant based on condemning authority makes a separate award therefor or specifically identifies a portion of the relative value award as being therefor. Each party waives the provisions of each Section 1265.130 of their interests the California Code of Civil Procedure (which section allows either party to petition the Superior Court to terminate this lease in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be event of a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use partial taking of the Premises). If any action or proceeding is commenced for such taking of the Premises or any portion thereof or of any other space in the Project, or if Landlord is advised in writing by any entity or body having the right or power of condemnation of its intention to condemn the Premises or any portion thereof or of any other space in the Project, and Landlord shall decide to discontinue the use and operation of the Project or decide to demolish, alter or rebuild the Project, then the Tenant Landlord shall have the right to terminate this Lease lease by giving Tenant written notice thereof within sixty (60) days of the earlier of the date of Landlord's receipt of such notice of intention to condemn or the commencement of said action or proceeding. Such termination shall be effective as of the last day of the calendar month next following the month in which such notice is given or the date on which title shall vest in the condemnor, whichever occurs first. In the event of a partial taking, or conveyance in lieu thereof, of the Premises and fifty percent (50%) or more of the number of square feet in the Premises are taken then Tenant may terminate this lease. Any election by Tenant to so terminate shall be by written notice given to the Landlord within ninety sixty (9060) days following from the date of such taking or purchase. In conveyance and shall be effective on the case of all other takings of less than all or substantially all last day of the Land calendar month next following the month in which such notice is given or the date on which title shall vest in the condemnor, whichever occurs first. If a portion of the Premises is taken by power of eminent domain or conveyance in lieu thereof and Improvements or such private purchases thereofneither Landlord nor Tenant terminates this lease as provided above, then this Lease lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, as to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value part of the Premises immediately prior to not so taken or conveyed and all payments of rent shall be apportioned as of the date of such taking as compared or conveyance so that thereafter the amounts to be paid by Tenant shall be in the ratio that the area of the portion of the Premises not so taken bears to the value total area of the remaining Premises immediately after prior to such taking.
Appears in 3 contracts
Samples: Sublease (Medibuy Com Inc), Lease (Novacept Inc), Lease (Exodus Communications Inc)
Eminent Domain. a. A. If during the Term whole of the Premises shall be acquired or condemned by eminent domain for any public or quasi-public use or purpose, then the term of this Lease shall cease and terminate as of the date of title vesting in the condemning governmental body or other authority pursuant to such proceeding (the “Taking Date”) and all rentals and other charges shall be paid up to that date and Lessee shall have no claim against Lessor for the value of any unexpired term of this Lease.
B. If less than the whole but more than twenty-five percent (25%) of the Premises, or substantially more than fifty percent (50%) component of the Building, or more than fifty percent (50%) of the Total Rentable Area of the office component of the Building shall be taken under eminent domain, or sold to public authority under threat or in lieu of such a taking, Lessee shall have the right upon notice to Lessor within ten (10) days after the Taking Date either to terminate this Lease as of the Taking Date, or, subject to Lessor’s right of termination as set forth in Subsection 22D below, to continue in possession of the remainder of the Premises. In the event Lessee elects to remain in possession, all of the Land terms of this Lease shall continue in effect, except that as of the Taking Date, Initial Rent and other charges payable by Lessee shall be reduced in proportion to the Improvements floor area of the Premises taken. Lessor shall, at its cost, but only to the extent of net proceeds of condemnation received by Lessor, make all necessary repairs or alterations within the scope of Lessor’s Work and Lessor’s duties under Section 16A hereof, so as to constitute the remaining Premises a complete architectural unit, and Lessee, at Lessee’s cost, shall be obligated to perform all of Lessee’s Work and Lessee’s duties under Section 16B and otherwise restore the Premises and Lessee’s Trade Fixtures.
C. If twenty-five percent (25%) or less of the Premises shall be so taken, the Term shall cease only as to the part so taken as of the Taking Date, and Lessee shall pay rent and other charges up to the Taking Date, with appropriate credit by Lessor (toward the next installment of Rent due Lessor) of any Rent or charges paid for a period subsequent to the Taking Date. Rent and other charges payable to Lessor shall be reduced in proportion to the amount of the Premises taken. Lessor shall, at its expense, but only to the extent of net proceeds of condemnation received by Lessor, make all necessary repairs or alterations within the scope of Lessor’s Work so as to constitute the remaining Premises a complete architectural unit, and Lessee, at Lessee’s expense, shall be obligated to perform all of Lessee’s Work and otherwise restore the Premises and Lessee’s trade fixtures.
D. If more than twenty percent (20%) of (i) the area of that portion of Common Areas serving the office component of the Building, (ii) the Total Rentable Area of the office component of the Building, or (iii) the Premises shall be taken under power of eminent domain, or sold to public authority under the threat or in lieu of such a taking, Lessor may, by notice to Lessee delivered on or before the thirtieth (30th) day following the Taking Date, terminate this lease as of the Taking Date. Rent and other charges shall be paid up to the Taking Date, with an appropriate refund by Lessor of any Rent paid for a period subsequent thereto.
E. In the event of any condemnation or taking as hereinbefore provided, whether whole or partial, Lessee shall not be entitled to any part of the award, as damages or otherwise, for such condemnation and Lessor is to receive the full amount of such award. Lessee hereby expressly waives any right or claim to any part thereof. Although all damages in the exercise event of any condemnation are to belong to Lessor whether such damages are awarded as compensation for diminution in value of the leasehold or the fee of the Premises, Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any damage to Lessee’s business by reason of /s/ Lessor /s/ Lessee the condemnation and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s merchandise, furniture, fixtures, leasehold improvements and equipment from the Premises. A sale by Lessor to any authority having the power of eminent domain, either under threat of condemnation or while condemnation proceedings are pending, shall be deemed a taking under the power of eminent domain or by private purchase in lieu thereof, then for all purposes under this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the awardSection.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by written notice to the Landlord within ninety (90) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such taking.
Appears in 3 contracts
Samples: Lease (Local Matters Inc.), Office Lease Agreement (Local Matters Inc.), Office Lease Agreement (Local Matters Inc.)
Eminent Domain. a. A. If during the Term all or substantially all a portion of the Land and Building, or the Improvements Premises, shall be lawfully taken in the exercise or condemned for any public or quasi-public use or purpose, or conveyed under threat of the power of eminent domain or by private purchase in lieu such condemnation, and as a result thereof, then the Premises cannot be used for the same purpose and with the same utility as before such taking or conveyance, the terms of this Lease shall terminate on end upon, and not before, the date of vesting of title in the taking of possession by the condemning authority, and without apportionment of the award. The award(s) for In such event, Tenant hereby assigns to Landlord, Tenant's interest in such award, if any. Current rent shall be apportioned as of the date of such termination. If any part of the Building shall be so taken or so condemned, or, if the grade of any street or alley adjacent to the Building is changed by any government authority and such taking shall be shared by or change of grade makes it necessary or desirable to demolish, substantially remodel, or restore the Building, Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate cancel this Lease by written notice to the Landlord within upon not less than ninety (90) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all days' prior notice to Tenant.
B. If a portion of the Land Premises shall be lawfully taken or condemned or conveyed under threat of condemnation but thereafter the Premises can be used by Tenant for the same purpose and Improvements or such private purchases thereofwith substantially the same utility, this Lease shall continue in full force not be terminated and effect Landlord shall repair the Premises, Building, and/or common area (to the extent applicable), and the Tenant Lease shall proceed with reasonable diligence following receipt be amended, if applicable, to reduce Tenant's Proportion and Base Rent in the proportion of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value amount of the Premises immediately prior taken. No money or other consideration shall be payable by Landlord to such Tenant for any right of cancellation or temporary taking as compared and Tenant shall have no right to the value share in any condemnation award or in any judgment for damage caused by a change of the remaining Premises immediately after to such takinggrade.
Appears in 3 contracts
Samples: Office Lease (Biotel Inc.), Office Lease (Biotel Inc.), Asset Purchase Agreement (Biotel Inc.)
Eminent Domain. a. (a) If during the Term all or substantially all whole of the Land and Building or the Improvements shall be Project are lawfully taken in the exercise of the power of eminent domain by condemnation or by private purchase in lieu thereofany other manner for any public or quasi-public purpose, then this Lease shall terminate on as of the date of vesting of title in such condemning authority (which date is hereinafter also referred to as the taking authority. The award(s) for any such taking “date of taking”), and the Rent shall be shared by prorated to such date. If any part of the Landlord and Building or the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award Project are so taken, this Lease shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or unaffected by private purchase in lieu thereofsuch taking, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to except that (i) Landlord may terminate this Lease by written notice to the Landlord Tenant within ninety (90) 90 days following after the date of such taking taking, and (ii) if 20% or purchase. In the case of all other takings of less than all or substantially all more of the Land Premises or the parking facilities or any other Common Areas serving the Premises shall be taken and Improvements the remaining areas shall not be reasonably sufficient for Tenant to continue operation of its business, Tenant may terminate this Lease by notice to Landlord within 90 days after the date of taking. This Lease shall terminate on the 30th day after such notice by which date Tenant shall vacate and surrender the Premises to Landlord. The Rent shall be prorated to the earlier of the Termination Date or such private purchases thereof, this Lease shall continue in full force and effect and date as Tenant is required to vacate the Tenant shall proceed with reasonable diligence following receipt Premises by reason of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the awardtaking. If this Lease shall continue continues in full force and effect following upon such partial taking, the Rent and Tenant’s Proportionate Share shall be permanently abated on a pro rata basis based on equitably adjusted according to the value rentable area of the Premises immediately prior and Building remaining.
(b) In the event of any taking, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be and remain the sole and exclusive property of Landlord, and Tenant hereby assigns all of its right, title and interest in and to any such taking as compared award, judgment or settlement to Landlord. Tenant, however, shall have the right, to the value of extent that the remaining Premises immediately after same shall not reduce or prejudice Landlord’s award, to claim from the condemning authority, but not from Landlord, such takingcompensation as may be recoverable by Tenant in its own right for moving expenses and damage to Tenant’s Property.
Appears in 2 contracts
Samples: Lease (Plures Technologies, Inc./De), Lease (CMSF Corp)
Eminent Domain. a. 20.1. If at any time during the Term all term of this Lease or substantially all any renewal, a portion of the Land Demised Premises or the Building and the Improvements shall Land of which the Demised Premises are a part, as would render Tenant’s use unprofitable or impractical, is taken or appropriated by virtue of eminent domain, or other similar proceedings, or condemned for any public or quasi-public use, Tenant will have the right and privilege of terminating this Lease, termination to be taken effective upon the earlier of the taking of possession by or vesting of title to the Demised Premises in the exercise condemning authority. Tenant will give notice of such termination as soon as practical but no later than ten (10) business days after it receives notice of the power first to occur of: (a) the taking of eminent domain possession by, or by private purchase in lieu thereof, then this Lease shall terminate on the date of (b) vesting of title in the taking condemning authority. The award(s) for any All of the Rent and other charges and payments reserved herein will be permanently abated from the time of such taking shall be shared by or appropriation. In the Landlord and the Tenant based on the relative value event of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be any taking pursuant to this paragraph 20, or a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase conveyance in lieu thereof, but such Tenant shall have no right or entitlement to any portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the any award given to Landlord. Tenant shall have the right to terminate this Lease by written notice pursue its own rights and remedies from the condemning authority, but such right shall not interfere with, abridge the rights of, nor substantially reduce the award payable to the Landlord within ninety (90) days following the date of such taking or purchaseLandlord.
20.2. In the case event the entire Demised Premises is taken or appropriated by virtue of all eminent domain, or other takings of less than all similar proceedings, or substantially all of the Land and Improvements is condemned for any public or such private purchases thereofquasi-public use, then this Lease shall continue will terminate on the earlier of: (i) the taking of possession by or (ii) vesting of title in full force and effect and the Tenant shall proceed with reasonable diligence following receipt condemning authority.
20.3. In the event of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall or appropriation of the Demised Premises or the Building and the Land not resulting in a termination of this Lease, Tenant will be paid entitled to an abatement of rent, immediately upon the taking, in such manner as is just and equitable. In the following order of priority: first, to event such amount cannot be agreed upon between the Tenant for such restoration; and secondparties, the balance to amount will be determined by arbitration in accordance with the Landlord rules and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value procedures of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingAmerican Arbitration Association.
Appears in 2 contracts
Samples: Lease Agreement (Targacept Inc), Lease (Targacept Inc)
Eminent Domain. a. If during (a) In the Term all event that title to the whole or substantially all any part of the Land Premises shall be lawfully condemned or taken in any manner for any public or quasi-public use, this lease and the Improvements term and estate hereby granted shall be taken in the exercise forthwith cease and terminate as of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title in and the taking authority. The award(s) for any such taking Landlord shall be shared by entitled to receive the entire award, the Tenant hereby assigning to the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use interest therein, if any. However, nothing herein shall be deemed to give Landlord any interest in or intended use to require Tenant to assign to Landlord any award made to Tenant for the taking of personal property or fixtures belonging to Tenant or for the interruption of or damage to Tenant's business or for Tenant's moving expenses.
(b) In the event that title to a part of the PremisesBuilding other than the Premises shall be so condemned or taken, then the Landlord may terminate this Lease and the term and estate hereby granted by notifying the Tenant of such termination within sixty (60) days following the date of vesting of title, and this Lease and the term and estate hereby granted shall expire on the date specified in the notice of termination, not less than sixty (60) days after the giving of such notice, as fully and completely as if such date were the date hereinbefore set for the expiration of the term of this Lease, and the Rent hereunder shall be apportioned as of such date.
(c) In the event of any condemnation or taking of any portion of the parking area of the Property, which does not result in a reduction of the parking ratio to less than one space for each 375 square feet of leased area, the terms of this Lease shall continue in full force and effect. If more of the Property is taken, either party shall have the right to terminate this Lease by upon giving written notice to the Landlord other party within ninety thirty (9030) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such taking.
(d) For the purpose of this Section 14, a sale to a public or quasi-public authority under threat of condemnation shall constitute a vesting of title and shall be constructed as a taking by such condemning authority.
Appears in 2 contracts
Samples: Office Lease (Elastic Networks Inc), Office Lease (Elastic Networks Inc)
Eminent Domain. a. If during the Term whole or a material portion of the Premises (or use or occupancy of the Premises) shall be taken or condemned by a governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking), or if the owner elects to convey title to the condemnor by a deed in lieu of condemnation, or if all or substantially all any portion of the Land or Building are so taken, condemned or conveyed and as a result thereof, in Landlord’s judgment, the Improvements shall Premises cannot be taken in the exercise of the power of eminent domain or by private purchase in lieu thereofused for Tenant’s permitted use as set forth herein, then this Lease shall cease and terminate as of the date when title vests in such governmental or quasi-governmental authority and the Fixed Rent and Additional Rent shall be abated on the date of vesting of when such title vests in the taking such governmental or quasi-governmental authority. The award(s) If less than a material portion of the Premises is taken or condemned by any governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such taking a taking), the Fixed Rent and Tenant’s proportionate share shall be shared by the Landlord and the Tenant based equitably adjusted (on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all basis of the Land number of square feet before and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but after such portion taken has a material adverse impact event) on the Tenant's use date when title vests in such governmental or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by written notice to the Landlord within ninety (90) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land quasi-governmental authority and Improvements or such private purchases thereof, this Lease shall otherwise continue in full force and effect and the effect. In any case, Tenant shall proceed with reasonable diligence following receipt have no claim against Landlord for any portion of the amount that may be awarded as damages as a result of any governmental or quasi-governmental taking or condemnation award to carry out any necessary repair and restoration. Any award from a partial (or sale under threat or such taking shall be paid in the following order of priority: first, to the Tenant for such restorationor condemnation); and secondall rights of Tenant to damages therefor are hereby assigned by Tenant to Landlord. The foregoing shall not, however, deprive Tenant of any separate award for moving expenses, dislocation damages or for any other award which would not reduce the balance award payable to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingLandlord.
Appears in 2 contracts
Samples: Lease Agreement (Histogenics Corp), Lease Agreement (Histogenics Corp)
Eminent Domain. a. If during the Term all or substantially all any part of the Land and the Improvements Premises shall be taken in the exercise of by any public or quasi-public authority under the power of eminent domain or by private purchase conveyance in lieu thereof, then this Lease shall terminate as to any portion of the Premises so taken or conveyed on the date of vesting of when title vests in the taking authority. The award(s) for condemner, and Landlord shall be entitled to any and all payment, income, rent, award, or any interest therein whatsoever which may be paid or made in connection with such taking or conveyance, and Tenant shall have no claim against Landlord or otherwise for the value of any unexpired Lease Term. Notwithstanding the foregoing sentence, any compensation specifically awarded Tenant for loss of business (including severance damages associated with Tenant's other business activities), Tenant's Lab Equipment, trade fixtures, personal property, moving costs or loss of goodwill, shall be shared by and remain the Landlord and property of Tenant. If (A) (i) any action or proceeding is commenced for the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all taking of the Land and Premises or any material part thereof, or if Landlord is advised in writing by any entity or body having the Improvements shall be taken in right or power of condemnation of its intention to condemn the exercise Premises or any material part thereof, or (ii) any of the power foregoing events occur with respect to the taking of eminent domain or by private purchase in lieu thereof, but such any material portion taken has a material adverse impact on the Tenant's use or intended use of the PremisesCommon Area which make it impractical for Landlord to continue to lease the Building to Tenant with reasonable Common Area amenities, then and (B) Landlord shall decide to discontinue the Tenant use and operation of the Complex, or decide to demolish or materially redesign and rebuild the Complex, then, in any of such events Landlord shall have the right to terminate this Lease by giving Tenant written notice to thereof and this Lease shall then terminate on the Landlord date preceding the date of conveyance. In the event of such a partial taking or conveyance of the Premises, if the portion of the Premises taken or conveyed is so substantial that the Tenant can no longer reasonably conduct its business, Tenant shall have the privilege of terminating this Lease within ninety sixty (9060) days following the date of such taking or purchase. In conveyance, upon written notice to the case Landlord of all other takings its intention so to do, and upon giving of less than all or substantially all such notice this Lease shall terminate on the last day of the Land calendar month next following the month in which such notice is given, upon payment by Tenant of the Rent (apportioned in such manner as provided in the following paragraph) from the date of such taking or conveyance to the date of termination. If a portion of the Premises and/or Complex be taken by condemnation or conveyance in lieu thereof and Improvements or such private purchases thereofneither Landlord nor Tenant shall terminate this Lease as provided herein, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, as to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value part of the Premises immediately prior not so taken or conveyed and the recipient of the award shall restore the Premises and/or Complex to the extent reasonably practicable, and the Rent herein shall be apportioned as of the date of such taking as compared or conveyance so that thereafter the Rent to be paid by Tenant shall be in the ratio that the area of the portion of the Premises not so taken or conveyed bears to the value total area of the remaining Premises immediately after prior to such taking.
Appears in 2 contracts
Samples: Lease Agreement (Alza Corp), Lease Agreement (Alza Corp)
Eminent Domain. a. If during In the Term all event that title to the whole or substantially all a substantial part of the Land Premises shall be lawfully condemned or taken in any manner for any public or quasi-public use, this lease and the Improvements term and estate hereby granted shall be taken in the exercise forthwith cease and terminate as of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking and Landlord shall be shared by entitled to receive the entire award, Tenant hereby assigning to Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use interest therein, if any. However, nothing herein shall be deemed to give Landlord any interest in or intended use to require Tenant to assign to Landlord any award made to Tenant for the taking of personal property or fixtures belonging to Tenant or for the interruption of or damage to Tenant's business or for Tenant's moving expenses. A sale to a public or quasi-public authority under threat of condemnation shall constitute a taking by eminent domain. In the event that title to a part of the Premisesbuilding/s other than the Premises shall be so condemned or taken, then Landlord may terminate this lease and the term and estate hereby granted by notifying Tenant of such termination within sixty (60) days following the date of vesting of title, and this lease and the term and estate hereby granted shall expire on the date specified in the notice of termination, not less than sixty (60) days after the giving of such notice, as fully and completely as if such date were the date herein set for the expiration of the Lease Term, and the Rent hereunder shall be apportioned as of such date. In the event of any condemnation or taking of any portion of the parking area of the Center, which does not result in a reduction of the parking area by more than twenty percent (20%) the terms of this lease shall continue in full force and effect. If more than twenty percent (20%) of the parking area is taken, either party shall have the right to terminate this Lease by lease upon giving written notice to the Landlord other party within ninety thirty (9030) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such taking.
Appears in 2 contracts
Samples: Industrial Lease (MKS Instruments Inc), Industrial Lease (MKS Instruments Inc)
Eminent Domain. a. If during 16.1 In the event that title to the whole or any part of the Premises shall be lawfully condemned or taken in any manner for any public or quasi-public use, this Lease and the Term all or substantially all and estate hereby granted shall forthwith cease and terminate as of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title and Landlord shall be entitled to receive the entire award, Tenant hereby assigning to Landlord Tenant's interest therein, if any. However, nothing herein shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award made to Tenant for the taking of personal property or fixtures belonging to Tenant or for the interruption of or damage to Tenant's business or for Tenant's moving expenses.
16.2 In the event that title to a part of the Building other than the Premises shall be so condemned or taken and if in the taking authority. The award(s) for any opinion of Landlord, the Building should be restored in such taking shall be shared by a way as to alter the Premises materially, Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to may terminate this Lease and the Term and estate hereby granted by written notice to the Landlord notifying Tenant of such termination within ninety sixty (9060) days following the date of such taking or purchase. In vesting of title, and this Lease and the case Term and estate hereby granted shall expire on the date specified in the notice of all other takings of termination, not less than all or substantially all sixty (60) days after the giving of such notice, as fully and completely as if such date were the date hereinbefore set for the expiration of the Land and Improvements or such private purchases thereofTerm of this Lease, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking Rent hereunder shall be paid in apportioned as of such date.
16.3 For the following order purpose of priority: firstthis Section 16, a sale to the Tenant for such restoration; a public or quasi-public authority under threat of condemnation shall constitute a vesting of title and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be construed as a first charge against the award. If this Lease shall continue in full force and effect following taking by such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingcondemning authority.
Appears in 2 contracts
Samples: Office Lease (Education Lending Group Inc), Office Lease (Education Lending Group Inc)
Eminent Domain. a. If during the Term all or substantially all any part of the Land and the Improvements shall be Premises is taken in the exercise of by any public or quasi-public authority under the power of eminent domain domain, or by private purchase any agreement in lieu thereofthereof (a “taking”), then this Lease shall terminate on as to the portion of the Premises taken effective as of the date of vesting of title in the taking authoritytaking. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be If only a first charge against the award.
b. If during the Term less than all or substantially all portion of the Land and the Improvements shall be taken in the exercise of the power of eminent domain Premises is taken, Landlord or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to may terminate this Lease by as to the remainder of the Premises upon written notice to the Landlord other party within ninety (90) days following after the taking; provided, however, that Tenant’s right to terminate this Lease is conditioned upon the remaining portion of the Premises being of such size or configuration that such remaining portion of the Premises is unusable or uneconomical for Tenant’s business. Landlord shall be entitled to all compensation, damages, income, rent awards and interest thereon whatsoever which may be paid or made in connection with any taking and Tenant shall have no claim against Landlord or any governmental authority for the value of any unexpired term of this Lease or of any of the improvements or Alterations in the Premises; provided, however, that the foregoing shall not prohibit Tenant from prosecuting a separate claim against the taking authority for an amount separately designated for Tenant’s relocation expenses or the interruption of or damage to Tenant’s business or as compensation for Tenant’s personal property, trade fixtures, Alterations or other improvements paid for by Tenant so long as any award to Tenant will not reduce the award to Landlord. In the event of a partial taking of the Premises which does not result in a termination of this Lease, the Monthly Rent and Additional Rent under Paragraphs 5 and 7 hereunder shall be equitably reduced. If all or any material part of the Real Property other than the Premises is taken, Landlord may terminate this Lease upon written notice to Tenant given within ninety (90) days after the date of such taking or purchase. In taking.
b. Notwithstanding the case of all other takings of less than foregoing, if all or substantially all any portion of the Land and Improvements Premises is taken for a period of time of one (1) year or such private purchases thereofless ending prior to the end of the term of this Lease, this Lease shall continue remain in full force and effect and the Tenant shall proceed continue to pay all rent and to perform all of its obligations under this Lease; provided, however, that Tenant shall be entitled to all compensation, damages, income, rent awards and interest thereon that is paid or made in connection with reasonable diligence following receipt such temporary taking of the condemnation award Premises (or portion thereof), except that any such compensation in excess of the rent or other amounts payable to carry out Landlord hereunder shall be promptly paid over to Landlord as received. Landlord and Tenant each hereby waive the provisions of any necessary repair and restoration. Any award from applicable existing or future Legal Requirement providing for, or allowing either party to petition the courts of the state in which the Real Property is located for, a termination of this Lease upon a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to and/or the value of the remaining Premises immediately after to such takingBuilding.
Appears in 2 contracts
Samples: Office Lease (Salt Blockchain Inc.), Office Lease (2U, Inc.)
Eminent Domain. a. (a) If during the Term all or substantially all whole of the Land and the Improvements shall be Building is taken by condemnation or in the exercise of the power of eminent domain any other manner for any public or by private purchase in lieu thereofquasi-public purpose, then this Lease shall terminate on as of the date of vesting of title in the taking authority. The award(s) for any such taking condemning authority (which date is hereinafter sometimes referred to as the "date of taking"), and the Rent shall be shared by prorated to such date. If any part of the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award Building or Land is so taken, this Lease shall be a first charge against unaffected by such taking, except that (i) Landlord may terminate this Lease by notice to Tenant within ninety (90) days after the award.
b. If during the Term less than all date of taking, and (ii) if 20% or substantially all more of the Land and the Improvements Premises shall be taken in and the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use remaining area of the Premises, then the in Tenant's reasonable estimation, shall not be reasonably sufficient for Tenant shall have the right to continue operation of its business, Tenant may terminate this Lease by written notice to the Landlord within ninety (90) days following after the date of such taking or purchasetaking. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this This Lease shall continue in full force and effect and terminate on the 30th day after any such notice by Landlord or Tenant, by which date Tenant shall proceed with reasonable diligence following receipt of vacate and surrender the condemnation award Premises to carry out any necessary repair Landlord, and restoration. Any award from a partial taking in which case the Rent shall be paid in the following order of priority: first, prorated to the such date as Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in vacates the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the awardreason of said taking. If this Lease shall continue continues in full force and effect following upon such partial taking, the Rent and Tenant's Proportionate Share shall be permanently abated on a pro rata basis based on equitably adjusted according to the value rentable area of the Premises immediately prior to and Building remaining after such partial taking.
(b) In the event of any taking as compared set forth in the immediately preceding subsection, all of the proceeds of any award, judgment or settlement payable by the condemning authority other than for damage to Tenant's Property shall be and remain the sole and exclusive property of Landlord, and Tenant hereby assigns all of its right, title and interest in and to any such award, judgment or settlement to Landlord. Tenant, however, shall have the right, to the value of extent that the remaining Premises immediately after same shall not reduce or prejudice any award, judgment or settlement to Landlord, to claim from the condemning authority, but not from Landlord, such takingcompensation as may be recoverable by Tenant in its own right for moving expenses and damage to Tenant's Property.
Appears in 2 contracts
Samples: Sublease Agreement (Accord Networks LTD), Sublease Agreement (Accord Networks LTD)
Eminent Domain. a. If during In the Term all event that title to the whole or substantially all a substantial part of the Land Premises shall be lawfully condemned or taken in any manner for any public or quasi-public use, this Lease and the Improvements term and estate hereby granted shall be taken in the exercise forthwith cease and terminate as of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking and Landlord shall be shared by entitled to receive the entire award, Tenant hereby assigning to Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use interest therein, if any. However, nothing herein shall be deemed to give Landlord any interest in or intended use to require Tenant to assign to Landlord any award made to Tenant for the taking of personal property or fixtures belonging to Tenant or for the interruption of or damage to Tenant's business or for Tenant's moving expenses. A sale to a public or quasi-public authority under threat of condemnation shall constitute a taking by eminent domain. In the event that title to a part of the PremisesBuilding/s other than the Premises shall be so condemned or taken, then Landlord may terminate this Lease and the term and estate hereby granted by notifying Tenant of such termination within sixty (60) days following the date of vesting of title, and this Lease and the term and estate hereby granted shall expire on the date specified in the notice of termination, not less than sixty (60) days after the giving of such notice, as fully and completely as if such date were the date herein set for the expiration of the Lease Term, and the Rent hereunder shall be apportioned as of such date. In the event of any condemnation or taking of any portion of the parking area of the Center which does not result in a reduction of the parking area by more than twenty percent (20%), the terms of this Lease shall continue in full force and effect. If more than twenty percent (20%) of the parking area is taken, either party shall have the right to terminate this Lease by upon giving written notice to the Landlord other party within ninety thirty (9030) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such taking.
Appears in 2 contracts
Samples: Industrial Lease (Celerity Group Inc), Industrial Lease (Celerity Group Inc)
Eminent Domain. a. If during SECTION 1. In the Term all event that 50% or substantially all more of the Land and total number of square feet in the Improvements Demised Premises shall be condemned or taken in for public or quasi public use, the Lessee may elect to terminate this Lease. If the Lessee elects to terminate this Lease, it must exercise its right to terminate by giving written notice to the Lessor within thirty (30) days after the nature and extent of the power taking have been finally determined. If the Lessee elects to terminate this Lease as provided herein, the Lessee shall also notify the Lessor of eminent domain or by private purchase in lieu thereofthe date of termination which date shall be not earlier than thirty (30) days after the Lessee has notified the Lessor of its election to terminate; provided, then however, that this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such of the date if the taking shall be shared falls on a date prior to the date of termination as designated by the Landlord and Lessee. If the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right Lessee does not elect to terminate this Lease by written notice to within the Landlord within ninety thirty (9030) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereofday period, this Lease shall continue in full force and effect except that Base Rent and additional rent shall be reduced pursuant to Section 2 hereof.
SECTION 2. In the Tenant shall proceed with reasonable diligence following receipt event that any portion of the Demised Premises is taken by condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue remains in full force and effect following such effect, on the date of the taking, the Base Rent and all additional rent shall be permanently abated on a pro rata basis based on reduced by an amount that is in the value same ratio to the Base Rent and Additional Rent as the total number of square feet in the Demised Premises taken bears to the total number of square feet in the Demised Premises immediately prior to the date of the taking.
SECTION 3. The Lessor shall be entitled to the entire award resulting from any such taking as compared condemnation or taking, including, without limitation, any portion of the award attributable to the value of the remaining Premises immediately after leasehold estate created by this Lease, provided, however, that the Lessee shall be entitled to such takingany portion of any award attributable to the Lessee's personal property or fixtures, or specifically attributable to its relocation expenses or the interruption or damage to its business.
Appears in 2 contracts
Samples: Lease (Digitalnet Holdings Inc), Lease (Digitalnet Holdings Inc)
Eminent Domain. a. If during 14.1. In the Term all event the whole or substantially all any substantial part of the Land Building or of the Premises is taken or condemned by any competent authority for any public use or purpose (including a deed given in lieu of condemnation), this Lease will terminate as of the date title vests in such authority, and Rent will be apportioned as of the Improvements shall be taken Expiration Date. Notwithstanding anything to the contrary herein set forth, in the exercise event the taking is temporary (for less than the remaining term of this Lease), Landlord may elect to terminate this Lease. Additionally, if more than 25% of the power area of eminent domain the Premises is taken or conveyed, or if 25% or less of the area of the Premises is being taken or conveyed and Tenant, in Tenant’s reasonable discretion, determines that it is unable to continue its operation in the Premises for the use permitted in this Lease, Tenant may elect to terminate this Lease as of the day possession is taken. If so much of the parking facilities are taken or conveyed so that the number of parking spaces necessary, in Landlord’s judgment, for the continued operation of the Building is not available, Landlord may, by private purchase notice to Tenant, terminate this Lease as of the day possession is taken.
14.2. If a part of the Building or the Premises is taken or condemned by any competent authority (or a deed is delivered in lieu thereof, then of condemnation) and this Lease shall terminate on is not terminated, this Lease will be amended to reduce the date Fixed Rent and Tenant’s Share to reflect the Rentable Area of vesting of title in the taking authority. The award(s) for Premises or Building, as the case may be, remaining after any such taking shall or condemnation. Landlord, upon receipt and to the extent of the award in condemnation (or proceeds of sale) will make necessary repairs and restorations to the Premises (exclusive of Tenant Additions) and to the Building to the extent necessary to constitute the portion of the Building not so taken or condemned as a complete architectural and economically efficient unit.
14.3. Notwithstanding the foregoing in Section 14.2, if as a result of any taking, or a governmental order that the grade of any street or alley adjacent to the Building is to be shared changed and such taking or change of grade makes it necessary or desirable to substantially remodel or restore the Building or prevents the economical operation of the Building as determined by the Landlord, Landlord and the Tenant based on the relative value of will each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by upon 90 days prior written notice to the Landlord within ninety (90) days following the other and Rent will be adjusted as of such date of such taking termination. Landlord will promptly provide Tenant with notice of any proposed takings and will thereafter provide Tenant with monthly updates on any proposed takings and will promptly notice Tenant of any final judgment or purchasesettlement with any condemning authority.
14.4. In Landlord will be entitled to receive the case of all other takings of less than all entire award (or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out sale proceeds) from any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, condemnation or sale without any payment to Tenant, and Tenant hereby assigns to Landlord Tenant’s interest, if any, in such award; provided, however, Tenant will have the Rent shall be permanently abated on right separately to pursue against the condemning authority a pro rata basis based on the value separate award in respect of the Premises immediately prior to such taking loss, if any, for moving expenses and Tenant additions and Alterations paid for by Tenant without any credit or allowance from Landlord so long as compared to the value there is no diminution of the remaining Premises immediately after to such takingLandlord’s award as a result.
Appears in 2 contracts
Samples: Lease Agreement (iCIMS Holding LLC), Lease Agreement (iCIMS Holding LLC)
Eminent Domain. a. If during Except as hereinafter provided, if the Term all Premises, or substantially all of such portion thereof as to render the Land and balance (if reconstructed to the Improvements maximum extent practicable in the circumstances) unsuitable for continued occupancy for the purposes contemplated under this Lease, shall be taken in the exercise of the power by condemnation or right of eminent domain or by private purchase in lieu thereofdomain, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking shall be shared by and the Landlord and the Tenant based on shall each have the relative value right to terminate this Lease by notice to the other of each of their interests in the Premises. Any costs reasonably incurred its desire to do so, provided that such notice is given not later than thirty (30) days after receipt by the parties in pursuing Tenant of notice of the eminent domain award effective date of such taking. If so much of the Building shall be so taken that the Landlord reasonably determines, in good faith, that it would be necessary to substantially alter the Building so that a first charge against rebuilt Building will not be substantially similar to the award.
b. If during Building before such taking, the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant Landlord shall have the right to terminate this Lease by written giving notice to the Landlord within ninety Tenant of the Landlord’s desire to do so not later than thirty (9030) days following after the effective date of such taking or purchasetaking. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out Should any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value part of the Premises immediately be so taken or condemned during the Term, and should this Lease be not terminated in accordance with the foregoing provisions, the Landlord agrees to use reasonable efforts to put what may remain of the Premises into proper condition for use and occupation as nearly like the condition of the Premises prior to such taking as compared shall be practicable, subject, however, to applicable laws and codes then in existence. The Landlord shall have no obligation to expend in the value aforesaid restoration more than the proceeds of the remaining Premises immediately after to such takingany award received in any condemnation or eminent domain proceeding, or any sum paid in lieu thereof.
Appears in 2 contracts
Samples: Sublease Agreement (Aveo Pharmaceuticals Inc), Sublease Agreement (Immunogen Inc)
Eminent Domain. a. If during (1) the Term all whole or substantially all a material portion of the Land and the Improvements Premises shall be taken or condemned by a governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking), or (2) if the owner elects to convey title to the condemnor by a deed in the exercise lieu of condemnation, or (3) if all or any portion of the power of eminent domain Property are so taken, condemned or by private purchase conveyed and as a result thereof, in lieu thereofLandlord’s reasonable judgment, the Premises are rendered untenantable for the Permitted Use, then this Lease shall cease and terminate on as of the earlier of the date as of vesting which Tenant is required to vacate the Premises or the date when title vests in such governmental or quasi-governmental authority and Base Rent, and charges on account of title in the taking authority. The award(s) for any such taking Taxes and Operating Expenses, shall be shared by the Landlord and the Tenant based on the relative value abated as of each of their interests in the Premisesthat date. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all a material portion of the Land and the Improvements Premises shall be taken in the exercise of the power of eminent domain or condemned by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's governmental or quasi-governmental authority for any public or quasi-public use or intended use purpose (including sale under threat of the Premisessuch a taking), then the Tenant shall have the right to terminate this Lease by written notice to the Landlord within ninety (90) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect effect; provided, however, that Base Rent, and charges on account of Taxes and Operating Expenses, shall be equitably abated on the date when such title vests in such governmental or quasi-governmental authority. In any case, Tenant shall proceed with reasonable diligence following receipt have no claim against Landlord for any portion of the amount that may be awarded as damages as a result of any governmental or quasi-governmental taking or condemnation award to carry out any necessary repair and restoration. Any award from a partial (or sale under threat or such taking shall be paid in the following order of priority: first, to the Tenant for such restorationor condemnation); and secondall rights of Tenant to damages therefor are hereby assigned by Tenant to Landlord. The foregoing shall not, however, deprive Tenant of any separate award for Tenant’s personal property, moving expenses, dislocation damages or for any other award which would not reduce the balance award payable to the Landlord and Landlord’s mortgagee (if any). As used herein, “material portion of the Tenant Premises” shall mean such amount that, in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such takingLandlord’s reasonable judgment, the Rent shall be permanently abated on a pro rata basis based on the value would render more than fifty percent of the Premises immediately prior to such taking as compared to untenantable for the value of the remaining Premises immediately after to such takingPermitted Use.
Appears in 2 contracts
Samples: Sublease (Larimar Therapeutics, Inc.), Office Lease Agreement (Zafgen, Inc.)
Eminent Domain. a. 10.1 If during after the Term all or substantially all execution of this lease and prior to the expiration of the Land Lease Term the whole of the Demised Premises shall be appropriated by right of eminent domain (which, for the purposes of this Article X, includes any conveyance made to the condemning authority under the threat of condemnation), then the Lease Term shall cease as of the time the fee simple interest shall be vested in the taking authority, and rent and all other payment under this lease shall be apportioned and adjusted as of the time of termination. Tenant shall have the right at its election to continue to occupy the Demised Premises, to the extent permitted by law, for all, or such part, as Tenant may elect, of the period between the time of such appropriation and the Improvements time when physical possession of the Demised Premises shall be taken in taken, subject to the exercise provisions of this lease insofar as the power same may be made applicable to such occupancy by Tenant, but the amount, if any, charged to Tenant by taking authority or its assigns for rent or use and occupancy shall be deductible from the rent paid or payable by Tenant hereunder.
10.2 If by right of eminent domain or any other action of any public authority:
(i) a part of the Demised Premises shall be appropriated and if as a result thereof (and all previous takings) the ground floor area of the Demised Premises shall be reduced to less than ninety percent (90%) of the ground floor area set forth in Schedule A of this lease, or
(ii) a part of the Common Areas shall be appropriated and if as a result thereof (and all previous takings) the Common Areas (defined in Paragraph 2 of Schedule B to this lease) shall be reduced in size by private purchase in lieu thereoftwenty percent (20%) or more, or
(iii) the Parking Areas shall cease to be satisfactory access for pedestrians and motor vehicles to and from Xxxxxxx Avenue, and E. 20th Street, or
(iv) there shall cease to be satisfactory access for pedestrians between the Parking Areas and the Demised Premises, or
(v) there shall cease to be satisfactory access for trucks to and from the service door(s) of the Demised Premises, or
(vi) the lease of the Inducement Tenant shall be terminated, or
(vii) any part of the Demised Premises shall be appropriated during the last year of the Lease Term, then this Tenant may, if Tenant shall so elect, terminate the Lease shall terminate on the date Term by giving Landlord notice of vesting of title in the taking authority. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of such an election within twenty (20) days after the power receipt by Xxxxxx from Landlord of notice of such appropriation. If by right of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use any part of the PremisesDemised Premises shall be appropriated during the last year of the Lease Term, then Landlord may, if Landlord shall so elect, terminate the Lease Term by giving Tenant notice to the exercise of such election within twenty (20) days after the receipt by Landlord of notice of such appropriation. If Landlord shall give such notice of termination at a time when Tenant shall have the right to terminate this exercise an election to extend the Lease by written notice to the Landlord Term an extension period of at least five (5) years, and if within ninety fifteen (9015) days following the date after Tenant shall receive such notice of termination from Landlord, Tenant shall exercise said election, then such taking notice of termination shall become void and of no force or purchaseeffect. In the case event of a termination under the provisions of this Section, the termination shall be effective as of the time that physical possession of the premises so appropriated shall be taken, and rent and all other takings of less than all or substantially all payments pursuant to the lease shall be apportioned and adjusted as of the Land time of termination, but the amount charged by the taking authority or its assigns for rent or use and Improvements occupancy between the time of appropriation and the time of termination, shall be deductible from rent paid or such private purchases thereofpayable hereunder. If there shall be an appropriation by right of eminent domain and if the Lease Term shall not be terminated as aforesaid, this then the Lease Term shall continue in full force and effect and the Tenant shall proceed with Landlord shall, within a reasonable diligence following receipt time after physical possession is taken of the condemnation premises appropriated, restore what may remain of the Demised Premises and of the Common Areas and Common Facilities to substantially the same condition they, respectively, were in prior thereto, subject to reduction in size thereof. A just proportion of the rent and all other amounts payable by Tenant pursuant to this lease, according to the nature and extent of the injury to Tenant's business, shall be suspended or abated until the forty-fifth (45th) day after what may remain of the Demised Premises and the Common Areas and Common Facilities shall be restored, as aforesaid, and thereafter a just proportion of the rent and such other amounts, according to the nature and extent of the part of the Demised Premises and the Common Areas so appropriated, shall be suspended or abated for the balance of the Lease Term, for the purpose of which rent shall be deemed allocable fifty percent (50%) to the Demised Premises and fifty percent (50%) to the Common Areas and Common Facilities.
10.3 Landlord reserves to itself, and Xxxxxx assigns to Landlord, all rights to damages accruing on account of any appropriation by eminent domain or by reason of any act of any public authority for which damages are payable. Xxxxxx agrees to execute such instruments of assignments as may be reasonably requested by Landlord in any petition for the recovery of such damages if requested by Landlord, and to turn over to Landlord any damages that may be recovered in any such proceeding. It is agreed and understood, however, that Landlord does not reserve to itself and Tenant does not assign to Landlord: (i) the cost of trade fixtures installed by Tenant or any person claiming under Tenant at the sole cost and expense of Tenant or such other person, (ii) the unamortized cost to Tenant of any improvements made by Tenant to the realty which shall not remain or be restored in the part of the Demised Premises not taken including any unreimbursed amounts subject to recapture as provided in Section 9.4, (iii) moving and relocation costs, and (iv) the loss of tenant's leasehold interest (bargain value of the lease) (collectively "Tenant's Damages"). If any appropriation by right of eminent domain shall result in the termination of the Lease Term as above provided, Landlord shall pay to Tenant from the amount awarded to it as damages therefore an amount equal to Tenant's Damages except to the extent that Xxxxxx receives a separate award from the condemning authority to cover such losses; provided that any payment to Tenant for Tenants Damages (excluding any unreimbursed amounts subject to recapture as provided in Section 9.4) shall not reduce any award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in Landlord below the following order of priority: first, amount awarded for or allocable to the Tenant for such restoration; and second, sum of the balance then present value of the income stream to the Landlord and under this lease plus the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the then present value of the Premises immediately prior to such taking as compared Landlord's remainder interest in the fee title to the value Demised Premises upon the termination of the remaining Premises immediately after lease. The unamortized cost to Tenant of any improvement made by Tenant to the realty shall be determined in accordance with the straight-line method of amortization and the life expectancy of such takingimprovement used by Tenant for federal income tax purposes. As used hereinbefore, "the cost to Tenant" of any improvement shall mean the actual cost to Tenant of making such improvement less any contribution thereto, or reimbursement thereof, made by Landlord to Tenant, including, without limitation, reimbursement effected by deductions from rent.
Appears in 2 contracts
Samples: Lease (Basic Us Reit Inc), Lease Agreement (Basic Us Reit Inc)
Eminent Domain. a. 20.1 If during the Term all or substantially all whole of the Land and the Improvements shall be Building is lawfully taken by condemnation or in the exercise of the power of eminent domain any other manner for any public or by private purchase in lieu thereofquasi-public purpose, then this Lease shall terminate on as of the date of vesting of title in the taking authority. The award(s) for any such taking taking, and Rent shall be shared by prorated to such date. If less than the Landlord and whole of the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award Building or Premises is so taken, this Lease shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or unaffected by private purchase in lieu thereofsuch taking, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the provided that (i) Tenant shall have the right to terminate this Lease by written notice to the Landlord given within ninety (90) days following after the date of such taking or purchase. In if in Tenant’s reasonable opinion, the case of all other takings of less than all or substantially all remaining area of the Land Building or Premises is not reasonably sufficient for Tenant to continue the unimpaired operation of its business in a manner similar to that conducted immediately prior to the taking, and Improvements (ii) Landlord shall have the right to terminate this Lease by notice to Tenant given within ninety (90) days after the date of such taking if more than 20% of the Building is taken. If either Landlord or such private purchases thereofTenant so elects to terminate this Lease, this Lease shall continue in full force and effect and terminate on the Tenant shall proceed with reasonable diligence following thirtieth (30th) day after either such notice. Notwithstanding anything contained herein to the contrary, if the restoration of the Premises, or the Building is not commenced within thirty (30) days of Landlord’s receipt of the condemnation award to carry out or is not completed within 365 days from the Condemnation Date, then Tenant may terminate this Lease at any necessary repair and time before Landlord completes the restoration. Any award from a partial taking The Rent shall be paid in the following order of priority: first, prorated to the Tenant for such restoration; date of termination and second, the balance Base Rent and Tenant’s Pro Rata Share of Additional Rent shall be equitably adjusted according to the Landlord and the Tenant in proportion to the value remaining Rentable Area of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the awardand Building. If this Lease shall continue continues in full force and effect following upon such partial taking, the Base Rent and Tenant’s Pro Rata Share of Additional Rent shall be permanently abated on a pro rata basis based on equitably adjusted according to the value remaining Rentable Area of the Premises immediately and Building.
20.2 In the event of any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be the exclusive property of Landlord, and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the condemning authority. Tenant, however, shall have the right, to the extent that Landlord’s award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and damage to Tenant’s Property.
20.3 In the event of a partial taking of the Premises or Building Common Areas which does not result in a termination of this Lease, Landlord shall restore the remaining portion of the Premises and Building Common Areas as nearly as practicable to their condition prior to such taking as compared to the value condemnation or taking, including the Tenant Improvements. Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of the remaining Premises immediately after to such takingTenant’s Property.
Appears in 2 contracts
Samples: Office Building Lease, Office Building Lease (Avalara Inc)
Eminent Domain. a. If during the Term all or substantially all any part of the Land and the Improvements shall be Premises are taken in the exercise of by any public or quasi-public authority under the power of eminent domain domain, or by private purchase any agreement in lieu thereofthereof (a "taking"), then this Lease shall terminate on as to the portion of the Premises taken effective as of the date of vesting of title in the taking authoritytaking. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be If only a first charge against the award.
b. If during the Term less than all or substantially all portion of the Land and the Improvements shall be taken in the exercise of the power of eminent domain Premises is taken, Landlord or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to may terminate this Lease by as to the remainder of the Premises upon written notice to the Landlord other party within ninety (90) days following after the taking; provided, however, that Tenant's right to terminate this Lease is conditioned upon the remaining portion of the Premises being of Such size or configuration that such remaining portion of the Premises is unusable or uneconomical for Tenant's business. Landlord shall be entitled to all compensation, damages, income, rent awards and interest thereon whatsoever which may be paid or made in connection with any taking and Tenant shall have no claim against Landlord or any governmental authority for the value of any unexpired term of this Lease or of any of the improvements or Alterations in the Premises; provided, however, that the foregoing shall not prohibit Tenant from prosecuting a separate claim against the taking authority for an amount separately designated for Tenant's relocation expenses or the interruption of or damage to Tenant's business or as compensation for Tenant's personal property, trade fixtures, Alterations or other improvements paid for by Tenant so long as any award to Tenant will not reduce the award to Landlord. In the event of a partial taking of the Premises which does not result in a termination of this Lease, the Monthly Rent and Additional Rent under Paragraphs 5 and 7 hereunder shall be equitably reduced. If all or any part of the Real Property other than the Premises is taken, Landlord may terminate this Lease upon written notice to Tenant given within ninety (90) days after the date of such taking or purchase. In taking.
b. Notwithstanding the case of all other takings of less than foregoing, if all or substantially all any portion of the Land and Improvements or such private purchases thereofPremises is taken for a period of time ending prior to the end of the term of this Lease, this Lease shall continue remain in full force and effect and the Tenant shall proceed continue to pay all rent and to perform all of its obligations under this Lease; provided, however, that Tenant shall be entitled to all compensation, damages, income, rent awards and interest thereon that is paid or made in connection with reasonable diligence following receipt such temporary taking of the condemnation award Premises (or portion thereof), except that any such compensation in excess of the rent or other amounts payable to carry out Landlord hereunder shall be promptly paid over to Landlord as received. Landlord and Tenant each hereby waive the provisions of California Code of Civil Procedure Section 1265.130 and any necessary repair and restoration. Any award from other applicable existing or future Legal Requirement providing for, or allowing either party to petition the courts of the state in which the Real Property is located for, a termination of this Lease upon a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to and/or the value of the remaining Premises immediately after to such takingBuilding.
Appears in 2 contracts
Samples: Office Lease (Digital Island Inc), Office Lease (Digital Island Inc)
Eminent Domain. a. If during In the Term all event that title to the whole or substantially all substantial part of the Land Premises shall be lawfully condemned or taken in any manner for any public or quasi-public use, this lease and the Improvements term and estate hereby granted shall be taken in the exercise forthwith cease and terminate as of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking and Landlord shall be shared by entitled to receive the entire award, Tenant hereby assigning to Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use interest therein, if any. However, nothing herein shall be deemed to give Landlord any interest in or intended use to require Tenant to assign to Landlord any award made to Tenant for the taking of personal property or fixtures belonging to tenant or for the interruption of public or quasi-public authority under threat of condemnation shall constitute a taking by eminent domain. In the event that title to a part of the PremisesBuilding/s other than the Premises shall be so condemned or taken, then Landlord may terminate this lease and the term and estate hereby granted by notifying Tenant of such termination within sixty (60) days following the date of vesting of title, and this lease and the term and estate hereby granted shall expire on the date specified in the notice of termination, not less than sixty (60) days after the giving of such notice, as fully and completely as if such date were the date herein set for the expiration of the Lease Term, and the Rent hereunder shall be apportioned as of such date. In the event of any condemnation or taking of any portion of the parking area of the Center, which does not result in a reduction of the parking area by more than twenty percent (205), the terms of this lease shall continue in full force and effect. If more than twenty percent (20%) of the parking area is taken, either party shall have the right to terminate this Lease by lease upon giving written notice to the Landlord other party within ninety thirty (9030) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such taking.
Appears in 1 contract
Eminent Domain. a. If during (1) the Term all whole or substantially all a material portion of the Land and the Improvements Premises shall be taken or condemned by a governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking), or (2) if the owner elects to convey title to the condemnor by a deed in the exercise lieu of condemnation, or (3) if all or any portion of the power of eminent domain Property are so taken, condemned or by private purchase conveyed and as a result thereof, in lieu thereofLandlord’s reasonable judgment, the Premises are rendered untenantable for the Permitted Use, then this Lease shall cease and terminate as of the date when title vests in such governmental or quasi-governmental authority and Base Rent, and charges on account of Taxes and Operating Expenses, shall be abated on the date of vesting of when such title vests in the taking such governmental or quasi-governmental authority. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all a material portion of the Land and the Improvements Premises shall be taken in the exercise of the power of eminent domain or condemned by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's governmental or quasi governmental authority for any public or quasi-public use or intended use purpose (including sale under threat of the Premisessuch a taking), then the Tenant shall have the right to terminate this Lease by written notice to the Landlord within ninety (90) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect effect; provided, however, that Base Rent, and charges on account of Taxes and Operating Expenses, shall be equitably abated on the date when such title vests in such governmental or quasi-governmental authority. In any case, Tenant shall proceed with reasonable diligence following receipt have no claim against Landlord for any portion of the amount that may be awarded as damages as a result of any governmental or quasi-governmental taking or condemnation award to carry out any necessary repair and restoration. Any award from a partial (or sale under threat or such taking shall be paid in the following order of priority: first, to the Tenant for such restorationor condemnation); and secondall rights of Tenant to damages therefor are hereby assigned by Tenant to Landlord. The foregoing shall not, however, deprive Tenant of any separate award for moving expenses, dislocation damages or for any other award which would not reduce the balance award payable to Landlord. As used herein, “material portion of the Landlord and the Tenant Premises” shall mean such amount that, in proportion to the value of their relative interests in Landlord’s reasonable judgment, would render the Premises so taken. Any costs reasonably incurred by untenantable for the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingPermitted Use.
Appears in 1 contract
Samples: Office Lease Agreement (Tufin Software Technologies Ltd.)
Eminent Domain. a. If during the Term all or substantially all whole of the Land and the Improvements shall be Building or Premises is lawfully taken by condemnation or in the exercise of the power of eminent domain any other manner for any public or by private purchase in lieu thereof, then quasi-public purpose this Lease shall terminate on as of the date of vesting of title in the taking authority. The award(s) for any such taking taking, and Rent shall be shared by prorated to such date. If less than the Landlord and whole of the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award Building or Premises is so taken, this Lease shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or unaffected by private purchase in lieu thereofsuch taking, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the provided that (i) Tenant shall have the right to terminate this Lease by written notice to the Landlord given within ninety (90) days following after the date of such taking if twenty percent (20%) or purchase. In the case of all other takings of less than all or substantially all more of the Land Premises is taken and Improvements or such private purchases thereofthe remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (ii) Landlord shall have the right to terminate this Lease by notice to Tenant given within ninety (90) days after the date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall continue in full force and effect and terminate on the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restorationthirtieth (30th) day after either such notice. Any award from a partial taking The Rent shall be paid in the following order of priority: first, prorated to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value date of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the awardtermination. If this Lease shall continue continues in full force and effect following upon such partial taking, the Base Rent and Tenaxx'x Proportionate Share shall be permanently abated on a pro rata basis based on equitably adjusted according to the value remaining Rentable Area of the Premises immediately and Project.
b. In the event of any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be the exclusive property of Landlord, and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the condemning authority. Tenant, however, shall have the right, to the extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) which compensation as may be recoverable by Tenant in its own right for relocation expenses and damage to Tenaxx'x xersonal property. Landlord /s/ JF Tenant /s/ PF ----------- ----------
c. In the event of a partial taking of the Premises which does not result in a termination of this Lease, Landlord shall restore the remaining portion of the Premises as nearly as practicable to its condition prior to such taking as compared the condemnation or taking, but only to the value extent of building standard work. Tenant shall be responsible at its sole cost and expense for the remaining Premises immediately after to such takingrepair, restoration and replacement of any other Leasehold Improvements and Tenant's Property.
Appears in 1 contract
Samples: Lease Agreement (Tcsi Corp)
Eminent Domain. a. If during (a) In the Term all event that title to the whole or substantially all any part of the Land Premises shall be lawfully condemned or taken in any manner for any public or quasi-public use, this Lease and the Improvements term and estate hereby granted shall be taken in the exercise forthwith cease and terminate as of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title and the Landlord shall be entitled to receive the entire award, the Tenant hereby assigning to the Landlord the Tenant’s interest therein, if any; provided, however, that Tenant shall be entitled to claim any proceeds for the taking of Tenant’s trade fixtures, equipment or personal property and for relocation expenses so long as any such claim does not diminish any award to Landlord.
(b) In the event that title to a part of the Building other than the Premises shall be so condemned or taken and if in the taking authority. The award(s) for any opinion of the Landlord, the Building should be restored in such taking shall be shared by a way as to alter the Premises materially, the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to may terminate this Lease and the term and estate hereby granted by written notice to notifying the Landlord Tenant of such termination within ninety sixty (9060) days following the date of such taking or purchase. In vesting of title, and this Lease and the case term and estate hereby granted shall expire on the date specified in the notice of all other takings of termination, not less than all or substantially all sixty (60) days after the giving of such notice, as fully and completely as if such date were the date hereinbefore set for the expiration of the Land and Improvements or such private purchases thereofTerm of this Lease, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking Rent hereunder shall be paid in the following order apportioned as of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingdate.
Appears in 1 contract
Eminent Domain. a. If during In the Term all event that the whole or substantially all of the Land and the Improvements Leased Premises shall be condemned or taken in the any manner (including agreement between Landlord and any governmental authority authorized to exercise of the power of eminent domain such right) for any public or by private purchase in lieu thereofquasi-public use, then this Lease shall forthwith cease and terminate on as of the date of vesting of title and the Rent due from Tenant hereunder shall be apportioned and paid to such date of vesting. In the event that only a part of the Leased Premises consisting of less than substantially all thereof shall be so condemned or taken, then effective as of the date of vesting of title, the Rent reserved hereunder for such part shall be equitably abated and this Lease shall continue as to such part not so taken. If a substantial part or the whole of the Leased Premises is taken for a term of less than twelve (12) months, the Lease shall remain in full force and effect, except that Rent shall axxxx during the term of such temporary taking as to the portion of the Leased Premises so taken. In the event of any condemnation or taking, Landlord shall be entitled to receive the entire award in the taking authority. The award(s) condemnation proceeding, including any award made for the value of the estate vested by this Lease in Tenant, and Tenant hereby expressly assigns to Landlord any and all right, title and interest of Tenant now or hereafter arising in or to any such taking award_ or any part thereof, and Tenant shall be shared by entitled to receive no part of such award. Notwithstanding the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereofforegoing, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by written notice to the Landlord within ninety (90) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land a separate award for its trade fixtures, equipment and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingrelocation costs.
Appears in 1 contract
Samples: Lease Agreement (Alpha-en Corp)
Eminent Domain. a. Section 1. If during the Term all whole or substantially all any part of the Land and the Improvements Premises shall be taken in by public authority or any entity entitled to exercise the power of eminent domain, then the term of this Lease shall cease on the part so taken from the date possession of that part shall be taken by the condemnor and the rent shall be paid up by Lessee to that date. All proceeds received for the Premises and Improvements shall, as between Lessor and Lessee, belong solely to Lessor. All proceeds received for the Tenant Improvements and Lessee's moving expenses shall, as between Lessor and Lessee, belong solely to Lessee. Each party reserves the right to contest any award made by the condemning authority applicable to a taking of such party's interest. If the portion taken by any public authority or other entity entitled to exercise of the power of eminent domain or the sum of the portions in the case of additional taking is such as to make Lessee's operations on the Premises economically nonfeasible in Lessor's reasonable judgment, then from the day that Lessee first receives notice of the intention of the public authority or other entity entitled to exercise the power of eminent domain, then Lessee thereafter shall have the right for a period of ninety (90) days to terminate this Lease by private purchase in lieu thereofserving written notice upon the Lessor within said ninety (90) day period. In the event Lessee does not exercise said right to terminate this Lease within said ninety (90) day period, or if said taking is such as not to entitle Lessee to terminate this Lease, then this Lease shall terminate on the date of vesting of title continue and Lessee shall continue in the taking authority. The award(s) for any such taking possession of the remainder of the Premises under the terms herein provided, and there shall be shared by no reduction in rental. In the Landlord and event that Lessee elects the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right limited option to terminate this Lease by in accordance with the provisions of this Article XII, and the condemning agency thereafter abandons its intention to exercise its right of eminent domain, then the Lessee shall have thirty (30) days from and after the date Lessee receives written notice from Lessor or from said condemning agency (whichever first occurs) of the abandonment of such intention in which Lessee can rescind its exercise of option to terminate provided that Lessee is not in default under the terms of said Lease.
Section 2. If at the time of payment of any condemnation award, the Lessee or its successor is indebted to Lessor or its successor for rent or for any other sum due pursuant to the Landlord within ninety (90) days following the date terms of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereofthis Lease, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking then said sum shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance Lessor from any sum otherwise due to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the Lessee or its successor from said condemnation award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such taking.
Appears in 1 contract
Samples: Lease (Transit Group Inc)
Eminent Domain. a. (a) If during all the Term all Premises or substantially all of the Land and the Improvements a substantial (50% or more) part thereof shall be taken in the exercise of the power for any public or quasi-public use under any statute or by rights of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on as of the date of vesting of title. Landlord shall be entitled to receive the entire award paid for such taking or condemnation, Tenant hereby assigning to Landlord all Tenant's rights, title and interest therein, if any. Nothing contained herein shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award made to Tenant for the taking authority. The award(s) of personal property or fixtures belonging to Tenant, for any the interruption of or damage to Tenant's business or for Tenant's moving expenses but only if such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against in addition to the awardaward for the Property and the Building (or portion thereof) containing the Premises.
b. (b) If during the Term less than all fifty percent (50%) or substantially all more of the Land and Building other than the Improvements Premises or 20% or more of the parking area shall be condemned, taken in the exercise of the power of eminent domain or by private purchase purchased in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use then Landlord or intended use of the Premises, then the Tenant shall have the right to may terminate this Lease by written notice to notifying the Landlord other of such termination within ninety sixty (9060) days following after the date of vesting of title. This Lease shall expire on the date specified in such taking or purchase. In the case notice of all other takings of termination, which date shall be not less than all or substantially all sixty (60) days after the giving of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. notice.
(c) Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent condemnation or temporary requisition which does not result in a termination of this Lease, as hereinbefore provided in this Paragraph 20, shall not be permanently abated on a pro rata basis based on the value cause for any reduction or diminution of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingrental payment hereunder.
Appears in 1 contract
Eminent Domain. a. 13.1 If during the Term all or substantially all of the Land and the Improvements Premises shall be permanently taken in the exercise as a result of the power of eminent domain or by private purchase in lieu thereofof condemnation or eminent domain, then this Lease shall terminate on upon the date of vesting transfer of title in the taking authority. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the awardconnection therewith.
b. 13.2 If during any of the Term following events occur: (a) any portion, but less than all or substantially all of the Land and Premises (or any building of which the Improvements Premises may then be a part), shall be permanently taken as a result of or in the exercise lieu of condemnation or eminent domain and as a result of such event structural alterations or reconstruction of a portion of the power Premises are necessary or desirable in Lessor's judgment, or (b) as a result of eminent domain any such event specified in Subsection 13.2(a) hereof or by private purchase in lieu thereof, but such as a result of any other portion taken has a material adverse impact on the Tenant's use or intended use portions of the PremisesComplex being so taken or as a result of all or any portion of the Premises or the Complex being temporarily so taken, the area of the Premises (as the case may be) remaining after such taking (taking into consideration the period of time involved if a temporary taking), is such as to render continued operation of either the Premises or the Complex economically unfeasible by Lessor, then the Tenant shall have the right to Lessor may at its sole option terminate this Lease by written notice given to the Landlord Lessee within ninety thirty (9030) days following after the latter of the following: (i) the date upon which the proposed taking by such entity as a result of or in lieu of condemnation or eminent domain becomes final or (ii) the date upon which title to or possession of such taking or purchase. In the case of all other takings of less than all or substantially all portion of the Land Premises or Lessee's interest in such portion of the Premises transfers to such entity. If any of the foregoing events shall have occurred and Improvements or such private purchases thereofthis Lease is not terminated by Lessor pursuant to this Section 13.2, this Lease shall continue be and remain in full force and effect and for the Tenant shall proceed with reasonable diligence following receipt balance of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Term except that Base Rent shall be permanently abated on a pro rata basis based on abatx xx the value proportion which that portion of the Premises immediately prior of which Lessee is so deprived (if any, and only for the period of deprivation in the event of a temporary taking) bears to the entire Premises.
13.3 Lessor shall be entitled to receive the entirety of any and all proceeds, awards, damages, or other compensation received in connection with such taking as compared and Lessee shall have no right to share in such proceeds, awards, damages, or other compensation. Lessee hereby forever assigns to Lessor all right, title, and interest which Lessee may now or hereafter have in any such proceeds, awards, damages, or other compensation whatsoever; provided, however, that nothing in this Section 13 shall preclude Lessee from separately claiming or receiving from any such person, if legally payable, compensation for the taking of Lessee's tangible property and for Lessee's removal and relocation costs to the value of extent that the remaining Premises immediately after to such takingsame are specifically and separately awarded by not otherwise.
Appears in 1 contract
Samples: Lease Agreement (Glasstech Inc)
Eminent Domain. a. If during the Term all or substantially all any part of the Land and the Improvements shall be Promises are taken in the exercise of by any public or quasi-public authority under the power of eminent domain domain, or by private purchase any agreement in lieu thereofthereof (a "taking"), then this Lease shall terminate on as to the portion of the Premises taken effective as of the date of vesting of title in the taking authoritytaking. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be If only a first charge against the award.
b. If during the Term less than all or substantially all portion of the Land and the Improvements shall be taken in the exercise of the power of eminent domain Premises is taken, Landlord or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to may terminate this Lease by as to the remainder of the Premises upon written notice to the Landlord other party within ninety (90) days following after the taking; provided, however, that Tenant's right to terminate the Lease is conditioned upon the remaining portion of the Premises being of such size or configuration that such remaining portion of the Premises is unusable or uneconomical for Tenant's business. Landlord shall be entitled to all compensation, damages, income, rent awards and interest thereon whatsoever which may be paid or made in connection with any taking and Tenant shall have no claim against Landlord for the value of any unexpired term of this Lease or of any of the improvements or Alterations in the Premises; provided, however, that the foregoing shall not prohibit Tenant from prosecuting a separate claim against the taking authority for an amount separately designated for Tenant's relocation expenses or the interruption of or damage to Tenant's business or as compensation for Tenant's personal property, trade fixtures, Alterations or other improvements paid for by Tenant. In the event of a partial taking of the Premises which does not result in a termination of this Lease, the Monthly Rent and Additional Rent under Paragraphs 5 and 7 hereunder shall be equitably reduced. If all or any part of the Real Property other than the Premises is taken, Landlord may terminate this Lease upon written notice to Tenant given within ninety (90) days after the date of such taking or purchase. In taking.
b. Notwithstanding the case of all other takings of less than foregoing, if all or substantially all any portion of the Land and Improvements or such private purchases thereofPremises is taken for a period of time ending prior to the end of the term of this Lease, this Lease shall continue remain in full force and effect and the Tenant shall proceed continue to pay all rent and to perform all of its obligations under this Lease; provided, however, that Tenant shall be entitled to all compensation, damages, income, rent awards and interest thereon that is paid or made in connection with reasonable diligence following receipt such temporary taking, except that any such compensation in excess of the condemnation award rent or other amounts payable to carry out Landlord hereunder shall be promptly paid over to Landlord as received. Landlord and Tenant each hereby waive the provisions of California Code of Civil Procedure Section 1265.130 and any necessary repair and restoration. Any award from other applicable existing or future law, ordinance or governmental regulation providing for, or allowing either party to petition the courts of the state in which the Real Property is located for, a termination of this Lease upon a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to and/or the value of the remaining Premises immediately after to such takingBuilding.
Appears in 1 contract
Samples: Office Lease (CKS Group Inc)
Eminent Domain. a. If during the Building Complex, or a substantial part thereof, or a substantial part of the Leased Premises, shall be lawfully taken or condemned (or conveyed under threat of such taking or condemnation) for any public or quasi-public use or purpose, the Term all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on end upon, and not before, the date of vesting of title in the taking of possession by the condemning authority, and without apportionment of the award. The award(s) for Tenant hereby assigns to Landlord Xxxxxx’s interest, if any, in such award. Current Rent shall be apportioned as of the date of such termination. If any part of the Building Complex, other than the Leased Premises, not constituting a substantial part of the Building Complex, shall be so taken or condemned (or conveyed under threat of such taking shall be shared or condemnation), or if the grade of any street adjacent to the Building Complex is changed by the Landlord any competent authority and the Tenant based on the relative value such taking or change of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all grade makes it necessary or desirable to substantially all remodel, replace or restore any part of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereofBuilding Complex, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant Landlord shall have the right to terminate cancel this Lease by written notice to the Landlord within upon not less than ninety (90) days following calendar days’ notice prior to the date of such taking cancellation designated in the notice. No money or purchaseother consideration shall be payable by Landlord to Tenant for the right of cancellation, and Tenant shall have no right to share in any condemnation award, or in any judgment for damages, or in any proceeds of any sale made under any threat of condemnation or taking. In the case of all other takings of less than all or substantially all of event this Lease is not canceled, the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and effect, without abatement or reduction of rental due hereunder. Notwithstanding the foregoing, nothing contained herein shall prevent Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from commencing a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge separate proceedin g against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall condemning authority to recover any award it may be permanently abated on entitled to as a pro rata basis based on the value result of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingor condemnation.
Appears in 1 contract
Samples: Lease Agreement
Eminent Domain. a. If during In the Term event of any taking of or damage to all or substantially all any portion of the Land and the Improvements shall be taken in the Leased Premises by reason of exercise of the power of eminent domain domain, whether by a condemnation proceeding or by private purchase otherwise or any transfer in lieu thereof, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise avoidance of the power of eminent domain (collectively “Appropriation”) during the term of this Lease Agreement or by private purchase in lieu any extension or renewal thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use rights and obligations of the PremisesCounty and the Company with respect to such Appropriation shall be as provided in this Paragraph:
A. In the event of an Appropriation which includes the entire Structure or which renders the Structure structurally unsound, then this Lease Agreement shall terminate as of the Tenant date of the Appropriation and the Base Rental Fee provided for herein shall be prorated to the date the Company ceases operation from the Structure.
B. In the event of an Appropriation of a portion of the Leased Premises which does not include the entire Structure or renders it structurally unsound, this Lease Agreement shall continue in force. Provided, however, that in such event the County or the Company shall have the right to terminate this Lease (by written notice to the Landlord other party within ninety forty-five (9045) days following after the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, Appropriation) to terminate this Lease shall continue Agreement if, in full force and effect and the Tenant shall proceed with its reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and secondjudgment, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value continued use of the remaining portion of the Leased Premises immediately after would be impractical.
C. All damages and proceeds payable on account of an Appropriation which results in termination of this Lease Agreement, except those directly related to the Company’s equipment and/or the Company’s operation at the Site, shall belong to the County.
D. In the event of an Appropriation which does not result in a termination of this Lease Agreement, the damages and proceeds payable on account of the Appropriation shall belong to the County. Following any such takingAppropriation, the Company shall be responsible for obtaining any portion of such Appropriation which may pertain to its equipment and/or operation at the site, and replacing all facilities and equipment taken or rendered unusable as a result of the Appropriation, and shall bear all removal and relocation costs with respect to its facilities and equipment. All other alterations and repairs which are reasonably required as a result of the Appropriation shall be the responsibility of, and shall be made as promptly as reasonably possible by, the County.
Appears in 1 contract
Samples: Tower Lease Agreement
Eminent Domain. a. If during the Term all or substantially all whole of the Land and the Improvements shall be Building or Premises is lawfully taken by condemnation or in the exercise of the power of eminent domain any other manner for any public or by private purchase in lieu thereofquasipublic purpose, then this Lease shall terminate on as of the date of vesting of title in the taking authority. The award(s) for any such taking taking, and Rent shall be shared by prorated to such date. If less than the Landlord and whole of the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award Building or Premises is so taken, this Lease shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or unaffected by private purchase in lieu thereofsuch taking, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the provided that (i) Tenant shall have the right to terminate this Lease by written notice to Landlord given within ninety(90) days after the date of such taking if twenty percent (20%) or more of the Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (ii) Landlord shall have the right to terminate this Lease by notice to Tenant given within ninety (90) days following after the date of such taking taking. If either Landlord or purchase. In Tenant so elects to terminate this Lease, the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and terminate on the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restorationthirtieth (30th) day after either such notice. Any award from a partial taking shall The Rentshall be paid in the following order of priority: first, prorated to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value date of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the awardtermination. If this Lease shall continue continues in full force and effect following upon such partial taking, the Base Rent and Tenant's Proportionate Share shall be permanently abated on a pro rata basis based on equitably adjusted according to the value remaining Rentable Area of the Premises immediately prior and Project.
b. In the event of any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be the exclusive property of Landlord, and Tenant hereby assigns to such taking as compared Landlord all of its right, title and interest in any award, judgment or settlement from the condemning authority. Tenant, however, shall have the right, to the value extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority(but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and damage to Tenant's personal property.
c. In the event of a partial taking of the Premises which does not result in a termination of this Lease, Landlord shall restore the remaining portion of the Premises immediately after as nearly as practicable to such its condition priorto the condemnation or taking, but only to.the extent of Building Standard Work. Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant's Property.
Appears in 1 contract
Samples: Office Building Lease (Unify Corp)
Eminent Domain. a. If during the Term all or substantially all (1) so much of the Land and the Improvements Premises shall be taken in the exercise or condemned by Eminent Domain for any public or quasi-public use or purpose and either party determines that Tenant's use of the power Premises or the parking area serving the Building will be materially and adversely affected, and either party shall elect, by giving written notice to the other, or (2) more than twenty-five percent (25%) of eminent domain or the floor area of the Building shall be so taken, and Landlord shall elect, in its sole discretion, by private purchase giving written notice to the Tenant, any said written notice to be given not more than sixty (60) days after the date on which title shall vest in lieu thereofsuch condemnation proceeding, then to terminate this Lease, then, in either such event, the Term of this Lease shall cease and terminate on as of the date of vesting of title in the taking authorityvesting. The award(s) for any such taking shall be shared by the If Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereofexercises its termination rights, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this abrogate and void Landlord's termination notice by affirming its obligations under the Lease by delivering a written notice to the Landlord within ninety fifteen (9015) days following the date after receipt of such Landlord's termination notice. In case of any taking or purchase. In condemnation, whether or not the case Term of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue cease and terminate, the entire award shall be the property of Landlord, and Tenant hereby assigns to Landlord all its right, title and interest in full force and effect and the to any such award, except that Tenant shall proceed with reasonable diligence following receipt be entitled to claim, prove and receive in the proceedings such awards as may be allowed for moving expenses, loss of profit and fixtures and other equipment installed by it which shall not, under the terms of this Lease, be or become the property of Landlord at the termination hereof, but only if such awards shall be made by the condemnation award to carry out any necessary repair court or other authority in addition to, and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and secondstated separately from, the balance to award made by it for the Landlord and the Tenant in proportion to the value of their relative interests in the Premises Property or part thereof so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award Landlord shall be notify Tenant within five (5) business days after receipt of a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on written notice of a pro rata basis based on the value taking or threatened taking of all or any portion of the Premises immediately prior to such taking as compared to Building or the value of the remaining Premises immediately after to such takingPremises.
Appears in 1 contract
Eminent Domain. a. If during the Term all or substantially all of the Land and the Improvements shall be entire Building is taken in the exercise of the power of by eminent domain or by private purchase in lieu thereofdomain, then this Lease Agreement shall automatically terminate on as of the date of vesting taking. If a portion constituting more than twenty-five percent (25%) of title in the taking authority. The award(s) for any such taking shall be shared Building is taken by eminent domain, the Landlord and shall have the right to terminate this Lease Agreement, provided it gives written notice thereof to the Tenant based on within ninety (90) days after the relative value date of each of their interests in the Premisestaking. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be If a first charge against the award.
b. If during the Term less than all or substantially all portion of the Land and the Improvements shall be Premises is taken in the exercise of the power of by eminent domain or by private purchase in lieu thereofdomain, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by Agreement, provided it gives written notice thereof to the Landlord within ninety (90) days following after the date of such taking or purchase. In ninety (90) days after the case of all other takings of less than all or substantially all date Tenant receives notice of the Land and Improvements or such private purchases thereoftaking, this Lease shall continue in full force and effect whichever is later. If neither Landlord nor Tenant terminates, then the Landlord shall, at its expense, restore the Premises and the Tenant Building to as near the condition which existed immediately prior to the date of taking as reasonably possible, and the rentals shall proceed with reasonable diligence following receipt xxxxx during such period of time as the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid Premises are untenantable, in the following order of priority: first, to proportion that the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value untenantable portion of the Premises immediately prior bears to the entire Premises. All damages awarded for such taking as compared under the power of eminent domain shall belong to and be the sole property of Landlord, irrespective of the basis upon which they are awarded, provided, however, that nothing contained herein shall prevent Tenant from making a separate claim to the value condemning authority for its moving expenses and trade fixtures. For purposes of this Article, a taking by eminent domain shall include Landlord's giving of a deed under threat of condemnation, and shall be deemed to occur on the earlier of the remaining Premises immediately after to such takingdate fee simple title has vested or possession has been obtained by the taking authority.
Appears in 1 contract
Eminent Domain. a. Section 11.1. If the whole of either of the Buildings shall be acquired or condemned for any public or quasi-public use or purpose, this Real Estate Sublease and the Term shall end with respect to the Premises as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of either or both of the Buildings shall be so acquired or condemned, then this Real Estate Sublease shall remain in effect without modification unless the Real Estate Lease is terminated as provided in Section 11.1 thereof, in which event this Real Estate Sublease shall terminate contemporaneously with such termination.
Section 11.2. In the event of any acquisition or condemnation of all or any part of the Premises that does not result in a termination of this Real Estate Sublease, the condemnation award shall be paid to the Landlord as provided in the Real Estate Lease. Subtenant shall have no claim against Sublandlord, Landlord, the condemning authority or any third party in respect of any such condemnation. Following any such acquisition or condemnation and prior to any termination of this Real Estate Sublease, Subtenant shall continue to pay in full all items of Rental payable by Subtenant hereunder without reduction or abatement.
Section 11.3. If less than the whole of either or both of the Buildings is permanently acquired or condemned or if the whole or any part of either of the Buildings shall be condemned temporarily during the Term all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any public or quasi-public use or purpose, the Term shall not be reduced or affected in any way and Subtenant shall continue to pay in full all items of Rental payable by Subtenant hereunder without reduction or abatement, and any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by written notice payable to the Landlord within ninety or Sublandlord (90as tenant) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid as provided in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingReal Estate Lease.
Appears in 1 contract
Eminent Domain. a. If during (a) In the Term all event that title to the whole or substantially all any part of the Land Premises shall be lawfully condemned or taken in any manner for any public or quasi-public use, this lease and the Improvements term and estate hereby granted shall be taken in the exercise forthwith cease and terminate as of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title and the Landlord shall be entitled to receive the entire award, Tenant hereby assigning to Landlord Tenant's interest therein, if any. However, nothing herein shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award made to Tenant for the taking authority. The award(sof personal property or fixtures belonging to Tenant or for the interruption of or damage to Tenant's business or for Tenant's moving expenses.
(b) for any such taking In the event that title to a part of the Building other than the Premises shall be shared by the so condemned or taken, Landlord may terminate this lease and the term and estate hereby granted by notifying Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by written notice to the Landlord termination within ninety sixty (9060) days following the date of such taking or purchase. In vesting of title, and this lease and the case term and estate hereby granted shall expire on the date specified in the notice of all other takings of termination, not less than all or substantially all sixty (60) days after the giving of such notice, as fully and completely as if such date were the date hereinbefore set for the expiration of the Land and Improvements or such private purchases thereofterm of this lease, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking Rent hereunder shall be paid in the following order apportioned as of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingdate.
Appears in 1 contract
Samples: Lease Agreement (Conning Corp)
Eminent Domain. a. If during the Term all or substantially all of the Land and Premises or a substantial portion of the Improvements Building should be acquired or condemned by eminent domain by any governmental authority, then Landlord or Tenant may terminate this Lease as of the date when title vests pursuant to such taking. In such event, the Rent shall be taken in the exercise apportioned as of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the said expiration date of vesting of title in the taking authority. The award(s) and any Rent paid for any such taking period beyond said date and in excess of amounts owing by Tenant to Landlord shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the awardrepaid to Tenant.
b. If during In the Term event of a taking of less than all or substantially all of the Land and Premises. Landlord shall have the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of right to equitably reduce the Premises, then Tenant’s Proportionate Share and the Base Rent, and this Lease shall continue in full force and effect. Notwithstanding the foregoing. Tenant shall have the right to terminate this Lease if the area of the Premises shall not be reasonably sufficient for Tenant to continue operation of its business.
c. Landlord and Tenant may exercise their respective right(s) to terminate this Lease under Sections 19.a and 19.b by giving written notice to the Landlord other within ninety thirty (9030) days following after the date of the vesting of title in such proceeding, specifying a date not more than fifteen (15) days after the giving of such notice as the date for such termination.
d. Neither Tenant nor any sublessee shall have any claim in any condemnation or eminent domain proceeding for the value of any unexpired term of the Lease with respect to the Premises or any portion thereof, and Tenant hereby assigns to Landlord Tenant’s entire interest in any such award. Although Tenant shall not be entitled to any part of the award for such taking or purchase. In the case any payment in lieu thereof, Tenant (or any sublessee) may file a separate claim for any taking of all other takings of less than all or substantially all of the Land fixtures and Improvements improvements owned by Tenant (or such private purchases thereofsublessee) which have not become Landlord’s property, this Lease and for moving expenses, provided the same shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the no way affect or diminish Landlord’s award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such taking.
Appears in 1 contract
Samples: Lease Agreement (Fabrinet)
Eminent Domain. a. If during (a) In the Term all or substantially event that title to all of the Land Premises, or a portion of the Premises containing a part of the Building shall be condemned or taken in any manner for any public or quasipublic use, this Lease and the Improvements term and estate hereby granted shall be taken in the exercise forthwith cease and terminate as of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title in the name of the condemning authority and the Lessor and Lessee shall be entitled to participate in any award based upon their respective interest therein, if any. Without limitation, Lessee shall be entitled to make a claim for and participate in any part of an award made for the taking of personal property or fixtures belonging to Lessee, for the interruption of or damage to Lessee's business, for Lessee's moving expenses, and for the value of the remaining term of the Lease.
(b) In the event that title to a portion of the Real Property containing no portion of the Building shall be so condemned or taken and provided the same does not reduce the number of parking spaces available to Lessee by more than five percent (5%), this Lease shall remain in full force and effect without rent abatement, apportionment, or other alteration whatsoever, and Lessor shall be entitled to receive any award paid by the condemning authority, the Lessee hereby assigning to Lessor the Lessee's interest therein, if any. The award(s) for any If however, such taking shall be shared reduces the number of parking spaces available to Lessee by the Landlord more than five percent (5%), and the Tenant based on the relative value of each of their interests in the Premises. Any costs Lessor cannot provide reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premisessuitable alternative parking within thirty (30) days thereafter, then the Tenant Lessee shall have the right to terminate cancel this Lease by upon written notice to the Landlord Lessor exercised within ninety ten (9010) days following the date day Lessor acknowledges in writing its inability to provide reasonably suitable alternative parking, or the expiration of such taking or purchasethe thirty (30) day period described above, whichever shall first occur. In the case of all other takings of less than all or substantially all of the Land such event, Lessor and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking Lessee shall be paid entitled to participate in any award as set forth in paragraph 24(a) hereof.
(c) For the following order purpose of priority: firstthis Section, a sale to the Tenant for such restoration; a public or quasi-public authority under threat of condemnation shall constitute a vesting of title and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be construed as a first charge against the award. If this Lease shall continue in full force and effect following taking by such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingcondemning authority.
Appears in 1 contract
Eminent Domain. a. If during the Term whole or a material portion of the Premises (or use or occupancy of the Premises) or access thereto shall be taken or condemned by a governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking), or if the owner elects to convey title to the condemnor by a deed in lieu of condemnation, or if all or substantially all any portion of the Land or Building are so taken, condemned or conveyed and as a result thereof, in Landlord’s reasonable judgment, the Improvements shall Premises cannot be taken in the exercise of the power of eminent domain or by private purchase in lieu thereofused for Tenant’s permitted use as set forth herein, then this Lease shall cease and terminate as of the date when title vests in such governmental or quasi-governmental authority and Fixed Rent and Additional Rent shall be abated on the date of vesting of when such title vests in the taking such governmental or quasi-governmental authority. The award(s) If less than a material portion of the Premises is taken or condemned by any governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such taking a taking), Fixed Rent and Tenant’s Proportionate Share shall be shared by the Landlord and the Tenant based equitably adjusted (on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all basis of the Land number of square feet before and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but after such portion taken has a material adverse impact event) on the Tenant's use date when title vests in such governmental or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by written notice to the Landlord within ninety (90) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land quasi-governmental authority and Improvements or such private purchases thereof, this Lease shall otherwise continue in full force and effect and the effect. In any case, Tenant shall proceed with reasonable diligence following receipt have no claim against Landlord for any portion of the amount that may be awarded as damages as a result of any governmental or quasi-governmental taking or condemnation award to carry out any necessary repair and restoration. Any award from a partial (or sale under threat or such taking shall be paid in the following order of priority: first, to the Tenant for such restorationor condemnation); and secondall rights of Tenant to damages therefor are hereby assigned by Tenant to Landlord. The foregoing shall not, however, deprive Tenant of any separate award for moving expenses, dislocation damages or for any other award which would not reduce the balance award payable to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingLandlord.
Appears in 1 contract
Samples: Lease Agreement (Repligen Corp)
Eminent Domain. a. 25.01. If during the Term all or substantially all whole of the Land and the Improvements Demised Premises shall be taken in the exercise of by any public or quasi-public authority under the power of condemnation, eminent domain or by private purchase expropriation, or in the event of conveyance of the whole of the Demised Premises in lieu thereof, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all as of the Land and the Improvements day possession shall be taken in the exercise by such authority. If 25% or less of the power rentable square footage of eminent domain the Demised Premises shall be so taken or conveyed, this Lease shall terminate only in respect of the part so taken or conveyed as of the day possession shall be taken by private purchase such authority. If more than 25% of the rentable square footage of the Demised Premises shall be so taken or conveyed, this Lease shall terminate only in lieu thereofrespect of the part so taken or conveyed as of the day possession shall be taken by such authority, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant either party shall have the right to terminate this Lease upon notice given to the other party within thirty (30) days after such taking of possession. If more than 25% of the rentable square footage of the Building shall be so taken or conveyed, Landlord, may, by written notice to the Landlord within ninety (90) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all Tenant, terminate this Lease as of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking day possession shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such takingas to any portion of the Demised Premises not so taken or conveyed, the Rent shall be permanently abated computed as of the day possession shall be taken on the basis of the remaining rentable square footage of the Demised Premises. Except as specifically provided herein, in the event of any such taking or conveyance there shall be no reduction in Rent. If this Lease shall continue in effect, Landlord shall, at its expense, but shall be obligated only to the extent of the net award or other compensation (after deducting all expenses in connection with obtaining the award or other compensation), available to Landlord for the improvements taken or conveyed (excluding any award or other compensation for land or for the unexpired portion of the term of any Superior Lease), make all necessary alterations so as to constitute the remaining Building a pro rata basis based on complete architectural and tenantable unit, except for the Tenant's Property, and Tenant shall make all alterations or replacements to the Tenant's Property and decorations in the Demised Premises. Landlord shall give notice of any and all condemnation proceedings and eminent domain negotiations so that Tenant may protect its own rights. All awards and compensation for any taking or conveyance, whether for the whole or a part of the Land or Building, the Demised Premises or otherwise, shall be the property of Landlord, and Tenant hereby assigns to Landlord all of Tenant's right, title and interest in and to any and all such awards and compensation, including, without limitation, any award or compensation for the value of the unexpired portion of the Term. Tenant shall be entitled to claim, prove and receive in the condemnation proceeding such award or compensation as may be allowed for the Tenant's non-depreciated leasehold improvements and for loss of business, goodwill, and depreciation or injury to and cost of removal of the Tenant's Property.
25.02. If the temporary use or occupancy of all or any part of the Demised Premises immediately prior shall be taken during the Term, Tenant shall be entitled, except as hereinafter set forth, to receive that portion of the award or payment for such taking as compared to which represents compensation for the value taking of the remaining Tenant's Property and for moving expenses, and Landlord shall be entitled to receive that portion which represents reimbursement for the cost of restoration of the Demised Premises. This Lease shall be and remain unaffected by such taking and Tenant shall continue to be responsible for all of its obligations hereunder insofar as such obligations are not affected by such taking and shall continue to pay the Rent in full when due. If the period of temporary use or occupancy shall extend beyond the Expiration Date, that part of the award or payment which represents compensation for the use and occupancy of the Demised Premises immediately (or a part thereof) shall be divided between Landlord and Tenant so that Tenant shall receive (except as otherwise provided below) so much thereof as represents compensation for the period up to and including the Expiration Date and Landlord shall receive so much thereof as represents compensation for the period after to such takingthe Expiration Date.
Appears in 1 contract
Samples: Lease Agreement (Access Integrated Technologies Inc)
Eminent Domain. a. If during the Term all whole or substantially all any part of the Land and the Improvements shall be Premises is taken in the exercise of by any public authority under the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date any other authority of vesting of title in the taking authority. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premiseslaw, then the Tenant term of this lease shall have the right to terminate this Lease by written notice cease as to the Landlord within ninety part of the Premises so taken from the date the possession of such part shall be required by such public authority for any purpose; and the rent for the Premises thereupon shall xxxxx in proportion to the amount of the Premises taken by such public authority. Notwithstanding the foregoing, if, in the judgment of Tenant, the part of the Premises so taken is such as to materially adversely affect the suitability of the remaining part of the Premises for Tenant’s business use, then Tenant for a period of sixty (9060) days following from the date of such taking of possession by such public authority shall have the right, exercisable at its option, either to terminate this lease without further obligation to Landlord by giving written notice of such termination to Landlord or purchase. In the case of all other takings of less than all or substantially all to continue in possession of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt remaining part of the condemnation award Premises pursuant to carry out any necessary repair and restoration. Any award from this lease but with a partial taking shall be paid reduction in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant rent in proportion to the value amount of their relative interests in the Premises taken by such public authority. If Tenant does not so terminate this lease within said sixty (60) day period, or if Tenant shall within such period give written notice to Landlord of Tenant’s waiver of its said right of termination, then Landlord, at its expense, promptly after such taking of possession by such public authority shall repair or reconstruct the improvements on the remaining portion of the Premises so taken. Any costs reasonably incurred by as to restore such improvements to a complete structural unit suitable for Tenant’s business use and as nearly as possible to the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises improvements existing immediately prior to such taking. The parties agree that the termination of this lease or any abatement of rent caused by the taking of the whole or a part of the Premises by right of eminent domain or any other authority of law shall not affect the right of Tenant to recover from the condemning authority such damages as compared Tenant may sustain or such award to which Tenant may be entitled by reason of the exercise of such right or authority. Neither party shall have any right in or to any award made to the value other party by the condemning authority or in or to any damages collected by the other party from the condemning authority. Any dispute between Landlord and Tenant under the provisions of this paragraph shall be submitted to the remaining Premises immediately after to American Arbitration Association for determination in accordance with its procedures in effect at such takingtime, and such determination shall be binding upon both Landlord and Tenant.
Appears in 1 contract
Samples: Lease Agreement (Telvent Git S A)
Eminent Domain. a. If during In the Term all event that title to the whole or substantially all a substantial part of the Land Premises shall be lawfully condemned or taken in any manner for any public or quasi-public use, this lease and the Improvements term and estate hereby granted shall forthwith crease and terminate as of the date of vesting title and Landlord shall be taken entitled to receive the entire award. Tenant hereby assigning to landlord the Tenant's interest therein, if any. However, nothing herein shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award made to Tenant for the exercise taking of personal or property or fixtures belonging to Tenant or for the interruption of our damage to Tenant's business or for Tenant's moving expenses. A sale to a public or quasi-public authority under threat of condemnation shall constitute a taking by eminent domain. In the event that title to a part of the power Premises shall be so condemned or taken where such condemnation or taking adversely affects, limits or restricts the use of eminent domain or the Premises by private purchase in lieu thereofTenant, then Landlord may terminate this Lease shall terminate on lease and the term and estate hereby granted by notifying the other party of such termination within sixty (60) days following the date of vesting of title title, and this lease and the term and estate hereby granted shall expire on the date specified in the taking authority. The award(snotice of termination, not less than (60) days after the giving of such notice, as fully and completely as if such date were the date herein set for any such taking the expiration of the leas Term and the Rent hereunder shall be shared apportioned as of such date. In the event that a part of the Premises is taken and neither Landlord or Tenant elect to terminate the Lease, the Base Rent and Additional Rent Payable by the Tenant shall be reasonably adjusted by Landlord and Tenant to reflect the Tenant based on the relative value partial taking of each of their interests in the Premises. Any costs reasonably incurred by In the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all event of any condemnation or substantially all taking of any portion of the Land and the Improvements shall be taken in the exercise parking area of the power of eminent domain or by private purchase Center, which does not result in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use reduction of the Premisesparking area by more than twenty percent (20%), then the Tenant terms of this lease shall continue in full force and effect. If more than twenty percent (20%) of the parking area is taken, either party shall have the right to terminate this Lease by lease upon giving written notice to the Landlord other party within ninety thirty (9030) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such taking.
Appears in 1 contract
Eminent Domain. a. If during 1. In the Term all event the Shopping Center or substantially all of the Land and the Improvements any part thereof shall be taken or condemned either permanently or temporarily for any public or quasi-public use or purpose by any authority in appropriate proceedings or by any right of eminent domain, the exercise entire compensation award thereof, including, but not limited to, all damages as compensation, for diminution in value of the Leasehold, reversion and fee, shall belong to Landlord, without any deduction therefrom for any present or future estate of Tenant, and Tenant hereby assigns to Landlord all its right, title, and interest to any such award. However, Tenant shall have the right to recover from the condemning authority, but not from Landlord, such compensation as may be separately awarded to Tenant on account of the values of Landlord improvements made by Tenant and for moving and relocating expenses.
2. In the event of taking under the power of eminent domain of (a) more than twenty-five percent (25%) of the Premises or by private purchase in lieu thereof, then this Lease shall terminate (b) a sufficient portion of the Shopping Center so that after such taking less than fifty percent (50%) of the leasable floor area within all buildings located on the date of vesting of title in the taking authority. The award(sShopping Center (as constituted prior to such taking) for any such taking shall be shared are occupied by the tenants, either Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by written notice to the Landlord in writing given within ninety (90) days following after the condemning authority takes possession, in which event all rents and other charges shall be prorated as of the date of such taking or purchasetermination.
3. In the case event of all other takings a taking of less than all or substantially all any portion of the Land Premises not resulting in a termination of this Lease, Landlord shall use so much of the proceeds of Landlord's award for the Premises as is required therefore to restore the Premises to a complete architectural unit and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and with respect to the Tenant shall proceed with reasonable diligence following receipt balance of the condemnation award to carry out any necessary repair and restoration. Any award from Premises, with a partial taking shall be paid in the following order reduction of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant Minimum Rent in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value that portion of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingtaken.
Appears in 1 contract
Samples: Lease Agreement (Dollar Tree Inc)
Eminent Domain. a. If during the Term all or substantially all of the Land and Premises or a substantial portion of the Improvements Building should be acquired or condemned by eminent domain by any governmental authority, then Landlord or Tenant may terminate this Lease as of the date when title vests pursuant to such taking. In such event, the Rent shall be taken in the exercise apportioned as of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the said expiration date of vesting of title in the taking authority. The award(s) and any Rent paid for any such taking period beyond said date and in excess of amounts owing by Tenant to Landlord shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the awardrepaid to Tenant.
b. If during In the Term event of a taking of less than all or substantially all of the Land and Premises, Landlord shall have the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of right to equitably reduce the Premises, then Tenant’s Proportionate Share and the Base Rent, and this Lease shall continue in full force and effect. Notwithstanding the foregoing, Tenant shall have the right to terminate this Lease if the area of the Premises shall not be reasonably sufficient for Tenant to continue operation of its business.
c. Landlord and Tenant may exercise their respective right(s) to terminate this Lease under Sections 19.a and 19.b by giving written notice to the Landlord other within ninety thirty (9030) days following after the date of the vesting of title in such proceeding, specifying a date not more than fifteen (15) days after the giving of such notice as the date for such termination.
d. Neither Tenant nor any sublessee shall have any claim in any condemnation or eminent domain proceeding for the value of any unexpired term of the Lease with respect to the Premises or any portion thereof, and Tenant hereby assigns to Landlord Tenant’s entire interest in any such award. Although Tenant shall not be entitled to any part of the award for such taking or purchase. In the case any payment in lieu thereof, Tenant (or any sublessee) may file a separate claim for any taking of all other takings of less than all or substantially all of the Land fixtures and Improvements improvements owned by Tenant (or such private purchases thereofsublessee) which have not become Landlord’s property, this Lease and for moving expenses, provided the same shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the no way affect or diminish Landlord’s award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such taking.
Appears in 1 contract
Samples: Lease Agreement (Fabrinet)
Eminent Domain. a. If during the Term all or substantially all whole of the Land and the Improvements shall be Building or Premises is lawfully taken by condemnation or in the exercise of the power of eminent domain any other manner for any public or by private purchase in lieu thereofquasi-public purpose, then this Lease shall terminate on as of the date of vesting of title in the taking authority. The award(s) for any such taking taking, and Rent shall be shared by prorated to such date. If less than the Landlord and whole of the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award Building or Premises is so taken, this Lease shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or unaffected by private purchase in lieu thereofsuch taking, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the provided that (i) Tenant shall have the right to terminate this Lease by written notice to the Landlord given within ninety (90) days following after the date of such taking if twenty percent (20%) or purchase. In the case of all other takings of less than all or substantially all more of the Land Premises is taken and Improvements or such private purchases thereofthe remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (ii) Landlord shall have the right to terminate this Lease by notice to Tenant given within ninety (90) days after the date of such taking. If either Landlord or Tenant so elects to Terminate this Lease, the Lease shall continue in full force and effect and terminate on the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restorationthirtieth (30th) day after either such notice. Any award from a partial taking The Rent shall be paid in the following order of priority: first, prorated to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value date of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the awardtermination. If this Lease shall continue continues in full force and effect following upon such partial taking, the Base Rent and Xxxxxx's Proportionate Share shall be permanently abated on a pro rata basis based on equitably adjusted according to the value remaining Rentable Area of the Premises immediately and Project.
b. In the event of any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be the exclusive property of Landlord, and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the condemning authority. Tenant, however, shall have the right, to the extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and damage to Xxxxxx's personal property.
c. In the event of a partial taking of the Premises which does not result in a termination of this Lease, Landlord shall restore the remaining portion of the Premises as nearly as practicable to its condition prior to such taking as compared the condemnation or taking, but only to the value extent of Building Standard Work. Tenant shall be responsible at its sole cost and expense for the remaining Premises immediately after to such takingrepair, restoration and replacement of any other Leasehold Improvements and Tenant's Property.
Appears in 1 contract
Samples: Lease Agreement (Mounger Corp)
Eminent Domain. a. If during the Term all or substantially all any material part of the Land and the Improvements shall be Premises are taken in the exercise of by any public or quasi-public authority under the power of eminent domain domain, or by private purchase any agreement in lieu thereofthereof (a "taking"), then this Lease shall terminate on as to the portion of the Premises taken effective as of the date of vesting of title in the taking authoritytaking. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be If only a first charge against the award.
b. If during the Term less than all or substantially all portion of the Land and the Improvements shall be taken in the exercise of the power of eminent domain Premises is taken, Landlord or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to may terminate this Lease by as to the remainder of the Premises upon written notice to the Landlord other party within ninety (90) days following after the taking; provided, however, that Tenant's right to terminate this Lease is conditioned upon the remaining portion of the Premises being of such size or configuration that such remaining portion of the Premises is unusable or uneconomical for Tenant's business. Landlord shall be entitled to all compensation, damages, income, rent awards and interest thereon whatsoever which may be paid or made in connection with any taking and Tenant shall have no claim against Landlord or any governmental authority for the value of any unexpired term of this Lease or of any of the improvements or Alterations in the Premises; provided, however, that the foregoing shall not prohibit Tenant from prosecuting a separate claim against the taking authority for an amount separately designated for Tenant's relocation expenses or the interruption of or damage to Tenant's business or as compensation for Tenant's personal property, trade fixtures, Alterations or other improvements paid for by Tenant so long as any award to Tenant will not reduce the award to Landlord. In the event of a partial taking of the Premises which does not result in a termination of this Lease, the Monthly Rent and Additional Rent under Paragraphs 5 and 7 hereunder shall be equitably reduced. If all or any part of the Real Property other than the Premises is taken, Landlord may terminate 30 this Lease upon written notice to Tenant given within ninety (90) days after the date of such taking or purchase. In taking.
b. Notwithstanding the case of all other takings of less than foregoing, if all or substantially all any portion of the Land and Improvements or such private purchases thereofPremises is taken for a period of time ending prior to the end of the term of this Lease, this Lease shall continue remain in full force and effect and the Tenant shall proceed continue to pay all rent and to perform all of its obligations under this Lease; provided, however, that Tenant shall be entitled to all compensation, damages, income, rent awards and interest thereon that is paid or made in connection with reasonable diligence following receipt such temporary taking of the condemnation award Premises (or portion thereof), except that any such compensation in excess of the rent or other amounts payable to carry out Landlord hereunder shall be promptly paid over to Landlord as received. Landlord and Tenant each hereby waive the provisions of California Code of Civil Procedure Section 1265.130 and any necessary repair and restoration. Any award from other applicable existing or future Legal Requirement providing for, or allowing either party to petition the courts of the state in which the Real Property is located for, a termination of this Lease upon a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to and/or the value of the remaining Premises immediately after to such takingBuilding.
Appears in 1 contract
Eminent Domain. a. If during the Term whole or more than twenty-five percent (25%) of the Demised Premises (or use or occupancy of the Demised Premises) shall be taken or condemned by any governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking), or if the owner elects to convey title to the condemnor by a deed in lieu of condemnation, or if all or substantially all any portion of the Land or Building are so taken, condemned or conveyed and as a result thereof, in Landlord's or Tenant's reasonable judgment, the Improvements shall Demised Premises cannot be taken used for Tenant's permitted use as set forth in the exercise of the power of eminent domain or by private purchase in lieu thereofthis Lease, then this Lease shall cease and terminate as of the date when title vests in such governmental or quasi-governmental authority and the Fixed Rent and Additional Rent shall be abated on the date of vesting of when such title vests in the taking such governmental or quasi-governmental authority. The award(sIf less than twenty-five percent (25%) of the Demised Premises is taken or condemned by any governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking), the Fixed Rent and Additional Rent shall be equitably adjusted (on the basis of the number of square feet before and after such event, and to the extent parking or other material Building features are taken, such taking shall also be shared by adjusted for) on the Landlord date when title vests in such governmental or quasi-governmental authority and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by written notice to the Landlord within ninety (90) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall otherwise continue in full force and effect and the effect. In any case, Tenant shall proceed with reasonable diligence following receipt have no claim against Landlord for any portion of the amount that may be awarded as damages as a result of any governmental or quasi-governmental taking or condemnation award to carry out any necessary repair and restoration. Any award from a partial (or sale under threat of such taking shall be paid in the following order of priority: first, to the Tenant for such restorationor condemnation); and secondall rights of Tenant to damages therefor are hereby assigned by Tenant to Landlord. The foregoing shall not, however, deprive Tenant of any separate award for moving expenses, dislocation damages or for any other award which would not reduce the balance award payable to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingLandlord.
Appears in 1 contract
Samples: Lease Agreement (Electronics Boutique Holdings Corp)
Eminent Domain. a. If during the Building, the land underlying the Building or a substantial part of the Premises shall be lawfully taken or condemned for any public or quasi-public use or purpose, the Term all or substantially all of the Land shall end upon, and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereofnot before, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking shall be shared of possession by the Landlord condemning authority, and the Tenant based on the relative value without apportionment of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the . Tenant shall have the right to terminate pursue an award for the value of its loss of its leasehold interest, alterations, and any moving costs, if applicable. The Total Rent shall be apportioned as of the date of such termination. If any part of the Building, other than the Premises, or less than a substantial part of the Premises shall be taken or condemned, which taking materially interferes with Landlord’s operation of the Building, or if the grade of any street or alley adjacent to the Building is changed by any competent authority and such taking or change of grade makes it necessary or desirable to substantially remodel or restore the Building, Landlord shall have the right to cancel this Lease by written notice to the Landlord within upon not less than ninety (90) days following days’ notice prior to the date of cancellation designated in the notice, but only if Landlord simultaneously terminates all other similarly affected tenancies and/or licenses in the Building. If a substantial part of the Premises shall be taken or condemned, which taking materially interferes with Tenant’s use of the Premises for its business purposes, Tenant shall have the right to cancel this Lease upon not less than ninety (90) days’ notice prior to the date of cancellation designated in the notice. No money or other consideration shall be payable by Landlord to Tenant for the right of cancellation, and, except as stated above, Tenant shall have no right to share in the condemnation award (or in any judgment for damages caused by the change of grade). In the event Landlord or Tenant does not cancel the Lease as aforesaid, Landlord shall rebuild the Building or the Premises, as the case may be, and in the event a portion of the Premises is taken or condemned, Total Rent shall xxxxx on a proportionate basis from the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingcondemnation.
Appears in 1 contract
Eminent Domain. a. If during any part of demised premises or the Term all or substantially all parking lot and entrances to the street of the Land highway and the Improvements to demised premises shall be taken in the exercise of the power for any public or quasi-public use under any statute or by right of eminent domain or by private purchase in lieu thereof to the extent that Tenant can no longer use the Premises for the purposes for which it is presently intended, then when possession shall be taken thereunder of the premises or any part thereof, the term herein demised and all rights of Tenant shall determine that it can continue using the demised premises for the purposes for which it is presently intended, then this Lease lease shall terminate on the date of vesting of title continue, but there shall be a reduction in the taking authorityannual rental payable hereunder commensurate with the reduction in space and usability of remaining space available to Tenant. The award(s) for any such taking Such reduction shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred agreed upon by the parties hereto in pursuing writing within 15 days or as hereafter set out. As soon as Tenant has determined that it desires to retain remainder of the premises, it shall so notify Landlord in writing and the parties hereto shall attempt to agree as to the reduction in rent. Should such agreement not be consummated within 15 days of said notice, either party may then notify the other that it desires the determination of the renewal rental to be determined by arbitration and at that time shall give notice to the other party of the arbitrator that it has chosen. The other party shall then notify the original party within seven days of said notification of the selection of an arbitrator to represent that party. The two arbitrators shall then view the property and the rental and attempt to agree as to a fair rental. If they are unable to agree within ten(10) days of the appointment of the second arbitrator, said arbitrators shall select a third arbitrator within five(5) days thereafter and decision of the majority of the arbitrators shall control. The above time may be lengthened or shortened by mutual agreement. The decision of the arbitrators as to the rental, and, if there is a dispute as to whether the remained of the property can be used for the original intended use, the decision of the arbitrators in regard to said factors shall be controlling. If a party of the premises shall be so taken so as to terminate the rights of Tenant, or in the event Landlord elects to make a voluntary conveyance in lieu of such proceedings to some public authority with power to take under its right of eminent domain, Tenant shall be notified in writing within 10 days after the institution of such proceedings by the service of summons or writ upon Landlord or within 10 days after the election of Landlord to so convey and Tenant shall have reasonable time to vacate. All rights under such eminent domain award procedure shall be a first charge against insure to the award.
b. If during the Term less than all or substantially all benefit of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Landlord; provided Tenant shall have the right to terminate this Lease make a separate and independent claim for any property taken, or damages sustained, by written notice to the Landlord within ninety (90) days following the date reason of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge proceedings against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingitself not provided for hereunder.
Appears in 1 contract
Eminent Domain. a. Section 11.1 - Partial or Total Taking If during the Term all or substantially all of the Land and the Improvements shall be Premises or Building is condemned or taken in the exercise of the power of eminent domain any manner for public or by private purchase quasi-public use, including, but not limited to, a conveyance or assignment in lieu thereofof a condemnation or taking, then this Lease shall automatically terminate on as of the earlier of the date of the vesting of title in or the taking authoritydate of dispossession of Tenant as a result of such condemnation or other taking. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and Premises is so condemned or taken, this Lease shall automatically terminate only as to the Improvements shall be taken in the exercise portion of the power Premises so taken as of eminent domain the earlier of the date of the vesting of title or by private purchase in lieu thereofthe date of dispossession of Tenant as a result of such condemnation or taking, but such portion provided that if so much of the Premises is taken has a material adverse impact on the as to materially and adversely impair Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease exercisable by giving Landlord written notice of such termination within sixty (60) days after the date of notice to Landlord of the date on which said vesting or dispossession will occur. Such termination by Tenant shall be effective as of the earlier of the date of vesting of title or the date of dispossession of Tenant, if such portion of the Premises is condemned or otherwise taken so as to require, in the opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, this Lease may be terminated by Landlord, as of the earlier of the date of the vesting of title or the date of dispossession of Tenant as a result of such condemnation or taking, by written notice to the Landlord Tenant given within ninety sixty (9060) days following notice to Landlord of the date on which said vesting or dispossession will occur. Tenant hereby waives any right which it may have during the Lease Term under California Code of such taking Civil Procedure Sections 1263.110 through 1265.140, and any similar law now or purchase. In hereafter in effect, including, without limitation, the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, right to petition a court to terminate this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt event of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingPremises.
Appears in 1 contract
Samples: Lease (California Microwave Inc)
Eminent Domain. a. If during the Building, or a substantial part thereof, or a substantial part of the Leased Premises, shall be lawfully taken or condemned (or conveyed under threat of such taking or condemnation) for any public or quasi-public use or purpose, the Term all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on end upon, and not before, the date of vesting of title in the taking of possession by the condemning authority, and without apportionment of the award. The award(s) for Tenant hereby assigns to Landlord Tenant's interest, if any, in such award. Current Rent shall be apportioned as of the date of such termination. If any part of the Building, other than the Leased Premises, not constituting a substantial part of the Building, shall be so taken or condemned (or conveyed under threat of such taking shall be shared or condemnation), or if the grade of any street adjacent to the Building Complex is changed by the Landlord any competent authority and the Tenant based on the relative value such taking or change of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all grade makes it necessary or desirable to substantially all remodel, replace or restore any part of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereofBuilding Complex, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant Landlord shall have the right to terminate cancel this Lease by written notice to the Landlord within upon not less than ninety (90) days following calendar days' notice prior to the date of such taking cancellation designated in the notice. No money or purchaseother consideration shall be payable by Landlord to Tenant for the right of cancellation, and Tenant shall have no right to share in any condemnation award, or in any judgment for damages, or in any proceeds of any sale made under any threat of condemnation or taking. In the case of all other takings of less than all or substantially all of event this Lease is not canceled, the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and effect, without abatement or reduction of rental due hereunder. Notwithstanding the foregoing, nothing contained herein shall prevent Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from commencing a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge separate proceeding against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall condemning authority to recover any award it may be permanently abated on entitled to as a pro rata basis based on the value result of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingor condemnation.
Appears in 1 contract
Eminent Domain. a. If during the Term all Premises, the Building, or substantially all of such a substantial part thereof, which in Landlord's reasonable judgment renders the Land and remainder unfit for the Improvements intended uses, shall be taken in by any competent authority under the exercise power of the eminent domain or be acquired for any public or quasi-public uses or purpose, the Lease Term shall cease and terminate upon the effective date of the taking and Tenant shall have no claim against Landlord for the value of any unexpired Lease Term. If any part of the Building is taken by any competent authority under the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) is acquired for any public or quasi-public uses or purpose, or if the configuration or grade of any street or alley or other improvement or structure adjacent to the Building is changed and such taking shall be shared by taking, or acquisition, or change of grade or configuration makes it necessary or desirable in Landlord's judgment to remodel the Building to conform to the taking, acquisition, or changed grade or configuration, Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by after having given written notice of termination to the Landlord within Tenant not less than ninety (90) days following prior to the date of such taking or purchasetermination designated in the notice. In either of said events, Rent at the case of all other takings of less than all or substantially all then current rate shall be apportioned as of the Land date of the termination. No money or other consideration shall be payable by Landlord to Tenant for the right of termination and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of have no right to share in the condemnation award to carry out or in any necessary repair and restorationjudgment for damages caused by the taking or the change of grade. Any However, nothing in this paragraph shall preclude Tenant from independently seeking an award from a partial taking shall be paid in the following order of priority: firstauthority for any damages or relocation benefits which Tenant is entitled to under governing law, to the Tenant for provided that such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain separate award shall be a first charge against not reduce the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingaward or judgment recoverable by Landlord.
Appears in 1 contract
Eminent Domain. a. 13.1 If during the Term all or substantially all of the Land and the Improvements Premises shall be taken in the exercise of or appropriated by any public or quasi-public authority under the power of eminent domain (or by similar law authorizing the involuntary taking of private purchase property, which shall include a sale in lieu thereofthereof to a public body), then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant either party hereto shall have the right right, at its option, to terminate this Lease by written notice to the Landlord within ninety (90) days following effective as of the date possession is taken by said authority, and Landlord shall be entitled to any and all income, rent, award and any interest thereon whatsoever which may be paid or made in connection with such public or quasi-public use or purpose. Tenant shall have no claim against Landlord for any portion of such taking or purchase. In Landlord’s award and shall not make a claim for the case value of all other takings any unexpired term of less than all or substantially all this Lease.
13.2 If only a portion of the Land Premises is taken such that the Premises are still accessible and Improvements or such private purchases thereofusable for the operation of Tenant’s business, then this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt proceeds of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in used by Landlord to restore the following order remainder of priority: first, the improvements on the Premises so far as practicable to a complete unit of like quality and condition to that which existed immediately prior to the taking, and all Rent payable by Tenant for such restoration; and second, the balance to the Landlord and the Tenant hereunder shall be reduced in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value floor area of the Premises immediately prior to which is no longer available for Tenant’s use. Landlord’s restoration work shall not exceed the scope of work done by Landlord in originally constructing the Premises and the cost of such taking as compared work shall not exceed the amount of the award received by Landlord with respect to the value Premises.
13.3 Nothing hereinbefore contained shall be deemed to deny to Tenant its right to seek a separate award from the condemning authority for the unamortized costs of Tenant’s ownership interest in the remaining Premises immediately after Tenant Improvements and Special Tenant Improvements, damage to such takingits trade fixtures and personal property, relocation expenses or loss of goodwill.
Appears in 1 contract
Samples: Lease Agreement (Formfactor Inc)
Eminent Domain. a. If during (a) In the Term all event that title to the whole or substantially all any part of the Land Premises shall be lawfully condemned or taken in any manner for any public or quasi-public use, this Lease and the Improvements term and estate hereby granted shall be taken in the exercise forthwith cease and terminate as of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title and Landlord shall be entitled to receive the entire award, Tenant hereby assigning to Landlord Tenant's interest therein, if any. However, nothing herein shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award made to Tenant for the taking of personal property or fixtures belonging to Tenant or for the interruption of or damage to Tenant's business or for Tenant's moving expenses.
(b) In the event that title to a part of the Building other than the Premises shall be so condemned or taken, and the remainder of the Building is not reasonably capable of being restored to a complete architectural whole, Landlord or Tenant may terminate this Lease and the term and estate hereby granted by notifying the other party of such termination within sixty (60) days following the date of vesting of title, and this Lease and the term and estate hereby granted shall expire on the date specified in the taking authority. The award(snotice of termination, not less than sixty (60) days after the giving of such notice, as fully and completely as if such date were the date hereinbefore set for any such taking shall be shared by the Landlord expiration of the term of this Lease, and the obligation of Tenant based on the relative value to pay Rent hereunder shall terminate as of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the awardsuch date.
b. If during (c) In the Term less than all event of any condemnation or substantially all taking of any portion of the Land and the Improvements shall be taken in the exercise parking area of the power of eminent domain or by private purchase Property, which does not result in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use reduction of the Premisesparking spaces by more than ten percent (10%), then the term of this Lease shall continue in full force and effect. If more of the parking area is taken and Landlord does not elect by notice in writing to Tenant to replace such parking spaces in excess of ten percent (10%) with parking reasonably proximate to the spaces taken, either party shall have the right to terminate this Lease by upon giving written notice to the Landlord other party within ninety thirty (9030) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such taking.
(d) For the purpose of this Section 16, a sale to a public or quasi-public authority under threat of condemnation shall constitute a vesting of title and shall be construed as a taking by such condemning authority.
Appears in 1 contract
Eminent Domain. a. If during the Term whole or more than fifty percent (50%) of the Demised Premises (or use or occupancy of the Demised Premises) shall be taken or condemned by any governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking), or if the owner elects to convey title to the condemnor by a deed in lieu of condemnation, or if all or substantially all any portion of the Land or Building are so taken, condemned or conveyed and as a result thereof, in Landlord’s judgment, the Improvements shall Demised Premises cannot be taken in the exercise of the power of eminent domain or by private purchase in lieu thereofused for Tenant’s permitted use as set forth herein, then this Lease shall cease and terminate as of the date when title vests in such governmental or quasi-governmental authority and the Fixed Rent and Additional Rent shall be abated on the date of vesting of when such title vests in the taking such governmental or quasi-governmental authority. The award(sIf fifty percent (50%) or less of the Demised Premises is taken or condemned by any governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such taking a taking) and this Lease is not terminated as set forth above, the Fixed Rent and Tenant’s Proportionate Share (as defined in Exhibit “C”) shall be shared by equitably adjusted (on the Landlord basis of the number of square feet before and after such event) on the date when title vests in such governmental or quasi-governmental authority and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by written notice to the Landlord within ninety (90) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall otherwise continue in full force and effect and the effect. In any case, Tenant shall proceed with reasonable diligence following receipt have no claim against Landlord for any portion of the amount that may be awarded as damages as a result of any governmental or quasi-governmental taking or condemnation award to carry out any necessary repair and restoration. Any award from a partial (or sale under threat of such taking shall be paid in the following order of priority: first, to the Tenant for such restorationor condemnation); and secondall rights of Tenant to damages therefor are hereby assigned by Tenant to Landlord. The foregoing shall not, however, deprive Tenant of any separate award for moving expenses, dislocation damages or for any other award which would not reduce the balance award payable to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingLandlord.
Appears in 1 contract
Samples: Lease Agreement (Unilife Corp)
Eminent Domain. a. 22.1. The term "takes by (or taken or taking by) eminent domain" shall include the exercise of any power of condemnation, whether by public authority or private corporation and any purchase or other acquisition in lieu of condemnation. The expression "date of taking" means the date the order adjudicating public use becomes final or the date the authority exercising its right of "eminent domain" shall agree to the purchase price in lieu of condemnation.
22.2. If during the Term all or substantially a condemning authority takes by eminent domain all of the Land and Premises or a portion thereof sufficient to render the Improvements shall be taken in remaining premises reasonably unsuitable for the exercise use which Tenant was then making of the power Premises, the term of the lease shall terminate as of the date of taking. Neither Tenant, nor the licensees, concessionaires or tenants of Tenant shall have any claim against Owner or the condemning authority for the value of any unexpired term of this lease.
22.3. If a portion of the Premises is taken by eminent domain or by private purchase in lieu thereofwhich is not extensive enough to render the Premises unsuitable for the business of Tenant, then this Lease Owner shall terminate promptly restore the Premises to a condition comparable to its condition on the date of vesting of title taking less the portion lost in the taking authority. The award(s) for any such taking shall be shared by the Landlord taking, and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by written notice to the Landlord within ninety (90) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease lease shall continue in full force and effect without any reduction or abatement of rent.
22.4. Although all damages in the event of any condemnation are to belong to the Owner whether such damages are awarded as compensation for diminution in value of the leasehold or to the fee of the leased premises, tenant shall have the right to claim and recover from the Tenant shall proceed with reasonable diligence following receipt condemning authority, but not from Owner, such compensation as may be separately awarded or recoverable by Tenaxx xx Tenant's separate right on account of any and all damage to Tenant's business by reason of the condemnation award and for or on account of any cost or loss to carry out any necessary repair which Tenant might be put in removing Tenant's merchandise, furniture, fixtures, leasehold improvements and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingequipment.
Appears in 1 contract
Samples: Lease Agreement (Gi Joes Inc)
Eminent Domain. a. Section 12.1. If during the Term whole of the leased premises shall be acquired or condemned by eminent domain for any public or quasi-public use or purpose, then the term shall terminate as of the date title vests in the condemnor and all rentals shall be paid up to that date and Tenant shall have no claim against Landlord for the value of any unexpired term of this lease.
Section 12.2. If all or substantially all of the Land common parking areas in the Shopping Center shall be acquired or condemned by eminent domain for any public or quasi-public use or purpose, then the term shall terminate as of the date title vests in the condemnor unless Landlord shall take immediate steps to provide and within a reasonable time does provide other parking facilities substantially equal to the previously existing ratio between the common parking areas and the Improvements leased premises, and such substantially equal parking facilities shall be taken in provided by Landlord at its own expense within ninety (90) days from the exercise date of the power taking of eminent domain the property for public or by private purchase in lieu thereofquasi-public use. If Landlord shall so provide such other substantially equal parking facilities, then this Lease lease shall continue in full force and effect. In any event, Tenant shall have no claim against Landlord for the value of any unexpired term of this lease.
Section 12.3. If any part of the building or more than fifty per cent (50%) of access to or from North Broad Street or Jefferson Street or any part of the exit to Oxford Avenue or any part of the area or the lanes described in Sections 5.3 (b) and 5.3 (c) hereof, shall be acquired or condemned by eminent domain for any public or quasi-public use or purpose, and if such partial taking or condemnation shall render the leased premises practicably unsuitable (or unsuitable in the opinion of any governmental authority) for the business of Tenant, then the term shall terminate on as of the date of vesting the declaration of title taking and Tenant shall have no claim against Landlord for the value of any unexpired term of this lease. In the event of a partial taking or condemnation which is not extensive enough to render the leased premises unsuitable in Tenant's opinion for the business of Tenant, then Landlord shall promptly restore the leased premises to a condition comparable to its condition at the time of such condemnation less the portion lost in the taking authoritytaking, and this lease shall continue in full force and effect.
Section 12.4. The award(s) If any part of the parking area in the Shopping Center shall be acquired or condemned by eminent domain for any public or quasi-public use or purpose and if, as the result of such partial taking the ratio of square feet of parking area to square feet of the building floor area of the entire Shopping Center is reduced to a ratio below that specified in Section 5.3 then the term shall terminate as of the date of the declaration of taking, unless the Landlord shall take immediate steps toward increasing, and does with a reasonable time increase, the parking ratio to that specified in Section 5.3, in which event this lease shall be shared by unaffected and remain in full force and effect. In any event, Tenant shall have no claim against Landlord for the value of any unexpired term of this lease.
Section 12.5. In the event of any condemnation or taking as hereinbefore provided, whether whole or partial, the Tenant shall not be entitled to any part of the award, as damages or otherwise, for such condemnation and Landlord is to receive the full amount of such award, the Tenant hereby expressly waiving any right or claim to any part thereof,
Section 12.6. Although all damages in the event of any condemnation are to belong to the Landlord and the Tenant based on the relative whether such damages are awarded as compensation for diminution in value of each the leasehold or to the fee of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge leased premises, and although Tenant hereby expressly waives all claims against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereofLandlord, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease claim and recover from the condemning authority, not from Landlord, such compensation as may be separately awarded or recoverable by written notice Tenant in Xxxxxx's own right on account of any and all damages to the Landlord within ninety (90) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt Xxxxxx's business by reason of the condemnation award and for or on account of any cost or loss to carry out any necessary repair which Tenant might be put in removing Xxxxxx's merchandise, furniture, fixtures, leasehold improvements and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingequipment.
Appears in 1 contract
Eminent Domain. a. (a) If during the Term all or substantially all of the Land and the Improvements shall be Premises are condemned or taken in the exercise of the power of eminent domain any manner for public or by private purchase quasi-public use, including, but not limited to, a conveyance or assignment in lieu thereof, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all condemnation or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by written notice to the Landlord within ninety (90) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereoftaking, this Lease shall continue automatically terminate as of the earlier of the date of the vesting of title or the date of dispossession, of Tenant as a result of such condemnation or taking. If a portion of the Premises is so condemned or taken, this Lease shall automatically terminate, as to the portion of the Premises so condemned or taken, as of the earlier of. the date of the vesting of title or the date of dispossession of Tenant as a result of such condemnation or taking. If a portion of the Building is condemned or taken so as to require, in the reasonable judgment of Landlord, a substantial alteration or reconstruction of the remaining portions of the Building, this Lease may be terminated by Landlord, as of the earlier of the date of the vesting of title or the date of dispossession of Tenant as a result of such condemnation or taking, by notice to Tenant within sixty (60) days following notice to Landlord of the date on which such vesting or dispossession will occur. If a material portion of the Premises is condemned or taken so as to render the remaining portion unusable by Tenant, in Tenant's reasonable judgment, this Lease may be terminated by Tenant, as of the earlier of the date of the vesting of title or the date of dispossession of Tenant as a result of such condemnation or taking, by notice to Landlord within sixty (60) days following notice to Tenant of the date on which such vesting or dispossession will occur.
(b) Landlord shall be entitled to the entire award in any condemnation proceeding or other proceeding for taking for public or quasi-public use, including, without limitation, any award made for the value of the leasehold estate created by this Lease. No award for any partial or entire taking shall be apportioned, and Tenant assigns to Landlord any award that may be made in such condemnation or taking, together with any and all rights of Tenant now or hereafter arising in or to such award; provided, however, that nothing contained herein shall be deemed to give Landlord any interest in, or to require Tenant to assign to Landlord, any award made to Tenant specifically for its relocation expenses, the taking of personal property and fixtures belonging to Tenant, or the interruption of or damage to Tenant's business.
(c) In the event of a partial condemnation or taking that does not result in a termination of this Lease as to the entire Premises, Base Rent shall xxxxx in proportion to the portion of the Premises taken by such condemnation or taking.
(d) If all or any portion of the Premises is condemned or taken for public or quasi-public use for a limited period of time, this Lease shall remain in full force and effect and the Tenant shall proceed with reasonable diligence following receipt continue to observe all of the condemnation award to carry out any necessary repair terms, conditions and restoration. Any award from a partial taking covenants of this Lease; provided, however, that Base Rent shall be paid in the following order of priority: first, to the Tenant for xxxxx during such restoration; and second, the balance to the Landlord and the Tenant limited period in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value portion of the Premises immediately prior that is rendered untenantable and unusable as a result of such condemnation or taking. Landlord shall be entitled to receive the entire award made in connection with any such taking as compared temporary condemnation or taking.
(e) Tenant waives and releases any right to the value terminate this Lease under Sections 1265.120 and 1265.130 of the remaining Premises immediately after to such takingCalifornia Code of Civil Procedure, or under any similar Laws now or hereafter in effect.
Appears in 1 contract
Eminent Domain. a. If during the Term entire Building, the Common Areas or a substantial part thereof, or any part thereof which includes all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use substantial part of the Premises, shall be taken or condemned by any competent authority for any public or quasi-public use or purpose, the Term of this Lease shall end upon and not before the earlier of the date when the possession of the part so taken shall be required for such use or purpose or the effective date of the taking, and without apportionment of the award to or for the benefit of Tenant. If any condemnation proceeding shall be instituted in which it is sought to take or damage any part of the Building, the Common Areas or the Land, the taking of which would prevent the economical operation of the Building, the Common Areas or the Development, or if the grade of any street or alley adjacent to the Building, the Common Areas or Parcel One is changed by any competent authority, and such taking, damage or change of grade makes it necessary or desirable to remodel the Building or the Common Area to conform to the taking, damage or changed grade, Landlord shall have the right to terminate this Lease upon written notice given to Tenant not less than ninety (90) days prior to the date of termination designated in said notice. In either of these events, Rent at the then current rate shall be apportioned as of the date of the termination. No money or other consideration shall be payable by Landlord to Tenant for the right of termination, and Tenant shall have no right to share in the condemnation award, whether for a total or partial taking, for loss of Tenant's leasehold or improvements or other loss or expenses or to share in any judgment for damages caused by the change of grade. If any condemnation proceeding shall be instituted in which less then all or a substantial part of the Premises is sought to be taken, but the portion to be taken would result in an inability of Tenant to conduct normal business operations from the Premises, Tenant shall have the right to terminate this Lease by upon written notice given to the Landlord within not less than ninety (90) days following prior to the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue termination designated in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingsaid notice.
Appears in 1 contract
Samples: Office Lease (Picis Inc)
Eminent Domain. a. A. If during the Term all or substantially all of the Land and Premises is condemned by a public entity other than the Improvements shall be taken City, in the lawful exercise of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by written notice to the Landlord within ninety (90) days following the date of such taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereofdomain, this Lease shall continue in full force and effect terminates upon the date possession is taken by the public entity. If only a part is condemned and the Tenant shall proceed with reasonable diligence following receipt taking of that part does not substantially impair the capacity of the condemnation award remainder to carry out any necessary repair and restoration. Any award from a partial taking shall be paid used for the purposes allowed by this Lease in the following order opinion of priority: firstthe Airport Manager, Lessee continues to be bound by the Tenant for such restoration; terms, covenants and secondconditions of this Lease, except the balance to the Landlord and the Tenant annual rental will be reduced in proportion to the value of their relative interests in relationship that the Premises so taken. Any costs reasonably incurred compensation paid by the parties in pursuing public entity for the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value portion of the Premises immediately prior to such taking as compared condemned bears to the value of the remaining whole of the Premises immediately after as of the date possession of the part is taken by the public entity.
B. If only a part is condemned and the taking of the part substantially impairs the capacity of the remainder to such takingbe used for the purposes allowed by this Lease in the opinion of the Airport Manager, Lessee may give notice to the City within thirty (30) days of the date possession of the part is taken by the public entity that Lessee will:
1. Terminate this Lease and have no further obligations under this Lease which have not accrued on the date the public entity takes possession; or
2. Continue to occupy the remainder of the Premises and remain bound by this Lease. If Lessee elects to continue to occupy the remainder, the monthly rental is reduced in proportion to the relationship that the compensation paid by the public entity for the portion of the Premises condemned bears to the value of the whole of the Premises as of the date possession of the part is taken by the public entity.
C. Lessee and Xxxxxx’s Mortgagee, if any, are entitled to share in any condemnation award for the value of its leasehold interest, if any, as determined by law in the condemnation proceeding.
Appears in 1 contract
Samples: Commercial Aviation Ground Lease
Eminent Domain. a. If during the Building, or a substantial part thereof, or a substantial part of the Leased Premises, shall be lawfully taken or condemned (or conveyed under threat of such taking or condemnation) for any public or quasi-public use or purpose, the Term all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on end upon, and not before, the date of vesting of title in the taking of possession by the condemning authority, and without apportionment of the award. The award(s) for Tenant hereby assigns to Landlord Tenant’s interest, if any, in such award. Current Rent shall be apportioned as of the date of such termination. If any part of the Building, other than the Leased Premises, not constituting a substantial part of the Building, shall be so taken or condemned (or conveyed under threat of such taking shall be shared or condemnation), or if the grade of any street adjacent to the Building Complex is changed by the Landlord any competent authority and the Tenant based on the relative value such taking or change of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all grade makes it necessary or desirable to substantially all remodel, replace or restore any part of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereofBuilding Complex, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant Landlord shall have the right to terminate cancel this Lease by written notice to the Landlord within upon not less than ninety (90) days following calendar days’ notice prior to the date of such taking cancellation designated in the notice. No money or purchaseother consideration shall be payable by Landlord to Tenant for the right of cancellation, and Tenant shall have no right to share in any condemnation award, or in any judgment for damages, or in any proceeds of any sale made under any threat of condemnation or taking. In the case of all other takings of less than all or substantially all of event this Lease is not canceled, the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and effect, without abatement or reduction of rental due hereunder. Notwithstanding the foregoing, nothing contained herein shall prevent Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from commencing a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge separate proceeding against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall condemning authority to recover any award it may be permanently abated on entitled to as a pro rata basis based on the value result of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingor condemnation.
Appears in 1 contract
Samples: Office Lease (Heatwurx, Inc.)
Eminent Domain. a. SECTION 19.01. If during the Term all or substantially all of the Land and the Improvements there shall be taken during the term of this Lease any portion of the Leased Premises, by any authority having the power of eminent domain, then and in that event, the term of this Lease shall cease and terminate, and the date of such termination shall be, at Landlord's election, either the date upon which possession shall be tendered to such authority by Landlord or the date upon which possession is taken by such authority.
SECTION 19.02. Whether or not any portion of the Leased Premises may be taken by such authority, Landlord may nevertheless elect to terminate this Lease or to continue this Lease in effect in the exercise event any portion of any building in the Shopping Center or more than ten percent (10%) of the Common Area of the Shopping Center be taken by such authority.
SECTION 19.03. All sums awarded or agreed upon between Landlord and the condemning authority for the taking of the fee or the leasehold interest, whether as damages or as compensation, will be the property of Landlord. Tenant hereby assigns to Landlord all proceeds, whether by way of compensation or damages, otherwise payable to Tenant for the leasehold interest by reason of such taking.
SECTION 19.04. If this Lease should be terminated under any provision of this Article, rental and other sums due and payable by Tenant hereunder shall be payable up to the date that possession is taken by the taking authority, and Landlord will refund to Tenant an equitable portion of any such rental and other sums paid in advance but not yet earned by such date.
SECTION 19.05. In the event that any authority having the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any requests that Landlord convey to such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than authority all or substantially all any portion of the Land and the Improvements shall be taken in the exercise Shopping Center or all or any portion of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Leased Premises, then the Tenant Landlord shall have the right to terminate this Lease by written notice make a voluntary conveyance to the Landlord within ninety (90) days following the date of such taking or purchase. In the case authority of all other takings or any portion of less than the Shopping Center or all or substantially any portion of the Leased Premises whether or not proceedings have been filed by such authority; and in the event of any such voluntary conveyance, it shall nevertheless for all purposes hereunder be deemed that there has been a taking by such authority of the property voluntarily conveyed by Landlord. Accordingly, all of the Land provisions of Sections 19.01, 19.02, 19.03 and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking 19.04 hereof shall be paid in the following order of priority: first, to the Tenant for applicable notwithstanding such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingvoluntary conveyance.
Appears in 1 contract
Eminent Domain. a. If during the Term all or substantially all whole of the Land and the Improvements shall be Building or Premises is lawfully taken by condemnation or in the exercise of the power of eminent domain any other manner for any public or by private purchase in lieu thereofquasi-public purpose, then this Lease shall terminate on as of the date of vesting of title in the taking authority. The award(s) for any such taking taking, and Rent shall be shared by prorated to such date. If less than the Landlord and whole of the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award Building or Premises is so taken, this Lease shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or unaffected by private purchase in lieu thereofsuch taking, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the provided that (i) Tenant shall have the right to terminate this Lease by written notice to the Landlord given within ninety (90) days following after the date of such taking if twenty percent (20%) or purchase. In the case of all other takings of less than all or substantially all more of the Land Premises or parking is taken and Improvements the remaining area of the Premises or such private purchases thereofparking is not reasonably sufficient for Tenant to continue operation of its business, and (ii) Landlord shall have the right to terminate this Lease by notice to Tenant given within ninety (90) days after the date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt terminate as of the condemnation award to carry out any necessary repair and restorationdate of such taking. Any award from a partial taking The Rent shall be paid in the following order of priority: first, prorated to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value date of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the awardtermination. If this Lease shall continue continues in full force and effect following upon such partial taking, the Base Rent and Xxxxxx's Proportionate Share shall be permanently abated on a pro rata basis based on equitably adjusted according to the value remaining Rentable Area of the Premises immediately and Project.
b. In the event of any taking, partial or whole, all of the proceeds of any award, judgement or settlement payable by the condemning authority shall be the exclusive property of Landlord, and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgement or settlement from the condemning authority. Tenant, however, shall have the right, to the extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and damage to Xxxxxx's personal property.
c. In the event of a partial taking of the Premises which does no result in a termination of this Lease, Landlord shall restore the remaining portion of the Premises as nearly as practicable to its condition prior to such taking as compared the condemnation or taking, but only to the value extent of Building Standard Work. Tenant shall be responsible at its sole cost and expense for the remaining Premises immediately after to such takingrepair, restoration and replacement of any other Leasehold Improvements and Tenant's Property.
Appears in 1 contract
Samples: Multi Tenant Office R&d Building Lease (Protein Polymer Technologies Inc)
Eminent Domain. a. If during (a) In the Term all event that title to the whole or substantially all any part of the Land Premises shall be lawfully condemned or taken in any manner for any public or quasi-public use, this Lease and the Improvements term and estate hereby granted shall be taken in the exercise forthwith cease and terminate as of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title, and Landlord shall be entitled to receive the entire award, Tenant hereby assigning to Landlord Tenant's interest therein, if any. ANYTHING CONTAINED IN THE FOREGOING TO THE CONTRARY NOTWITHSTANDING, TENANT MAY SEPARATELY PURSUE THE CONDEMNING AUTHORITY FOR MOVING EXPENSES, THE TAKING OF PERSONAL PROPERTY OF TENANT, ANY IMPROVEMENTS CONSTRUCTED BY TENANT, OR FOR THE INTERRUPTION OF OR DAMAGE TO TENANT'S BUSINESS, PROVIDED, HOWEVER, THAT THE SAME DOES NOT THEREBY DIMINISH LANDLORD'S AWARD.
(b) In the event that title to a part of the Building other than the Premises shall be so condemned or taken, and if in the taking authority. The award(s) for any opinion of Landlord, the Building should be restored in such taking a way as to alter the Premises materially, or in the event that title to all or a material part of the Outside Common Areas shall be shared by the so condemned or taken, Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to may terminate this Lease and the term and estate hereby granted by written notice to the Landlord notifying Tenant of such termination within ninety sixty (9060) days following the date of such taking or purchase. In vesting of title, and this Lease and the case term and estate hereby granted shall expire on the date specified in the notice of all other takings of termination, which date shall not be less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such taking.sixty
Appears in 1 contract
Eminent Domain. a. 14.01 If during the Term all Premises or substantially all of such substantial part thereof as reasonably renders the Land and remainder unfit for the Improvements intended uses shall be taken in the exercise of by any competent authority under the power of eminent domain or by private purchase in lieu thereofbe acquired for any public or quasi-public use or purpose, then the Term of this Lease shall cease and terminate on upon the date when the possession of vesting said Premises or the part thereof so taken shall be required for such use or purpose and without apportionment of title the award and Tenant shall have no claim against Landlord for the value of any unexpired Term of this Lease. If any condemnation proceeding shall be instituted in which it is sought to take any part of the taking authority. The award(s) for Building or to change the grade of any street or alley adjacent to the Building and such taking shall be shared by or change of grade makes it necessary or desirable to substantially remodel the Building to conform to the changed grade, Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by after having given written notice of termination to the Landlord within ninety (90) Tenant not less than 180 days following prior to the date of such taking or purchasetermination designated in the notice. In either of said events, rent at the case of all other takings of less than all or substantially all then current rate shall be apportioned as of the Land and Improvements date of the termination. No money or such private purchases thereof, this Lease other consideration shall continue in full force and effect be payable by the Landlord to the Tenant for the right of termination and the Tenant shall proceed with reasonable diligence following receipt of have no right to share in the condemnation award or in any judgment for damages caused by the taking or the change of grade. Nothing in this paragraph shall preclude an award being made to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; loss of business or depreciation to and secondcost of removal of equipment or fixtures. Tenant has the right to apply for a separate award providing it does not interfere with Landlord's rights, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred unless less time is afforded by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingcondemning authority.
Appears in 1 contract
Samples: Industrial Building Lease (Factory Card Outlet Corp)
Eminent Domain. a. If during the Term all or substantially all of the Land and the Improvements Premises shall be taken in the exercise of by any competent authority under the power of eminent domain (or by private purchase deed in lieu thereof) or be acquired for any public or quasi-public use or purpose, then this the Lease Term shall cease and terminate on upon the date when the possession of vesting of title in the taking authority. The award(s) for any such taking said Premises so taken shall be shared by required for such use or purpose and without apportionment of the Landlord award, and Lessee shall have no claim against Lessor for the Tenant based on the relative value of each of their interests in the Premisesunexpired Lease Term. Any costs reasonably incurred by the parties in pursuing the eminent domain award If any condemnation proceeding shall be a first charge against the award.
b. If during the Term less than all instituted in which it is sought to take or substantially all damage any part of the Land Building or the land under it or contiguous thereto, or if the grade of any street or alley adjacent to the Building is changed by any competent authority and such change of grade makes it necessary or desirable to remodel the Improvements shall be taken in Building to conform to the exercise of the power of eminent domain or by private purchase in lieu thereofchanged grade, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant Lessor shall have the right to terminate cancel this Lease by after having given written notice of cancellation to the Landlord within ninety Lessee not less than one hundred eighty (90180) days following prior to the date of such taking or purchasecancellation designated in the notice. In either of said events, rent at the case of all other takings of less than all or substantially all then current rate shall be apportioned as of the Land date of the termination. No money or other consideration shall be payable by Lessor to Lessee for the right of cancellation and Improvements or such private purchases thereof, this Lease Lessee shall continue have no right to share in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out or in any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant judgement for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred damages caused by the parties taking or the change of grade. Nothing in pursuing this paragraph shall preclude an award being made to Lessee by the eminent domain condemning authority for loss of business or depreciation to and cost of removal of equipment or fixtures, provided that any such award to Lessee does not diminish or replace in any way the award payable to Lessor hereunder. Except as provided herein, no condemnation or deed in lieu thereof shall be a first charge against have any effect on this lease or the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value obligations of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingLessee hereunder.
Appears in 1 contract
Eminent Domain. a. If during the Term all Premises or substantially all of such substantial part thereof as -------------- reasonably renders the Land and remainder unfit for the Improvements intended uses shall be taken in the exercise of by any competent authority under the power of eminent domain or by private purchase in lieu thereofbe acquired for any public or quasi-public use or purpose, then this the Lease Term shall cease and terminate on upon the date when the possession of vesting said Premises or the part thereof so taken shall be required for such use or purpose and without apportionment of title the award and Tenant shall have no claim against Landlord for the value of the then unexpired Lease Term. If any condemnation proceeding shall be instituted in which it is sought to take any part of the taking authority. The award(s) for Building or to change the grade of any street or alley adjacent to the Building and such taking shall be shared by or change of grade makes it necessary or desirable to remodel the Building to conform to the changed grade, Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by after having given written notice of termination to the Landlord within Tenant not less than ninety (90) days following prior to the date of such termination designated in the notice. In either of said events, Rent at the then current rate shall be apportioned as of the date of the termination. No money or other consideration shall be payable by Landlord to Tenant for the right of termination and Tenant shall have no right to share in any condemnation award or in any judgment for damages cause by any taking or purchasethe change of grade. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the The condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in to and be the following order sole property of priority: first, to Landlord whether the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on made as compensation as diminuation of the value of the Premises immediately prior to such taking as compared to leasehold estate or the value fee of the remaining Premises immediately after or otherwise. Nothing in this Section shall preclude an award being made to such takingTenant for or depreciation to and cost of removal of Tenant's equipment or fixtures, or Tenant's relocation expenses.
Appears in 1 contract
Eminent Domain. a. (a) If during the Term all or substantially all any of the Land and Demised Premises or any part of any of the Improvements buildings thereon shall be taken or condemned either permanently or temporarily for any public or quasipublic use or purpose by a competent authority, in appropriation proceedings or by any right of eminent domain, the exercise entire compensation or award therefor, including leasehold, reversion, and fee, shall belong to Landlord.
(b) If not more than twenty percent (20%) of a Parcel is taken or condemned, and if the portion of the power Parcel not taken can be repaired so as to be commercially fit for the operation of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by written notice to the Landlord business within ninety (90) days following from the date on which possession is taken for public use, Landlord at its own expense shall repair the portion of the Parcel not taken and there shall be an "Equitable Abatement of Rent," as hereinafter defined, for the remainder of the Lease term and for any renewal terms. If the portion of the Parcel not taken cannot be repaired within ninety (90) days from the date on which possession is taken so as to be commercially fit for the operation of Tenant's business, then such property shall be released from the provisions of this Lease and there shall be an Equitable Abatement of Rent for the remainder of the Lease term. Except as stated herein, no other taking or purchase. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, condemnation shall cause this Lease to be terminated. No appropriation or condemnation proceedings shall continue in full force and effect and operate as or be deemed an eviction of Tenant or a breach of Landlord's convenant of quiet enjoyment.
(c) As used herein, the Tenant shall proceed with reasonable diligence following receipt term "Equitable Abatement of the condemnation award Rent" is defined to carry out any necessary repair and restoration. Any award from mean a partial taking shall be paid reduction in the following order amount of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking calculated as compared to the value of the remaining Premises immediately after to such taking.follows:
Appears in 1 contract
Eminent Domain. a. If during the Building, or a substantial part thereof, shall be lawfully taken or condemned or conveyed in lieu thereof (or conveyed under threat of such taking or condemnation), for any public or quasi-public use or purpose, the Term all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on end upon and not before the date of vesting of title in the taking authorityof possession by the condemning authority and without apportionment of the award. The award(s) for Tenant hereby assigns to Landlord Tenant’s interest, if any, in such award and specifically agrees that any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be the entire property of Landlord in which Tenant shall not be entitled to share. Tenant further waives any right to challenge the right of the condemning authority to proceed with such taking. Rent shall be apportioned as of the date of such termination. If any part of the Building not constituting a first charge against substantial part thereof, shall be so taken or condemned (or conveyed under threat of such taking or condemnation), or if the award.
b. If during grade of any street adjacent to the Term Building is changed by any competent authority and such taking or change of grade makes it necessary or desirable to substantially remodel or restore the Building, Landlord shall have the right to cancel this Lease upon not less than all ninety (90) days’ notice prior to the date of cancellation designated in the notice. No money or substantially all of the Land and the Improvements other consideration shall be taken payable by Landlord to Tenant for the right of cancellation, and Tenant shall have no right to share in any condemnation award or in any judgment for damages or in any proceeds of any sale made under any threat of condemnation or taking, In the exercise event of the power of eminent domain or by private purchase in lieu thereofsuch condemnation proceedings, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by written notice to separately pursue its own award for the Landlord within ninety (90) days following the date taking of such taking or purchase. In the case any of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and secondTenant’s personal property, the balance to the Landlord interruption of Tenant’s business and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingrelocation expenses.
Appears in 1 contract
Eminent Domain. a. If during the Term all or substantially all a substantial part of the Land and Building, or a substantial part of the Improvements demised premises, shall be lawfully taken in or condemned for any public or quasi-public use or purpose, or conveyed under threat of such condemnation, the exercise term of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on end upon, and not before, the date of vesting of title in the taking of possession by the condemning authority, and without apportionment of the award. The award(s) for Tenant hereby assigns to the Landlord Tenant's interest in such award, if any. Current rent shall be apportioned as of the date of such termination. If any part of the Building shall be so taken or condemned, or if the grade of any street or alley adjacent to the Building is changed by any competent authority and such taking shall be shared by or change of grade makes it necessary or desirable to demolish, substantially remodel, or restore the Building, the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate cancel this Lease by written upon not less than thirty (30) days' notice prior to the Landlord within ninety (90) days following the date of such taking cancellation designated in the notice. No money or purchase. In other consideration shall be payable by the case Landlord to the Tenant for the right of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereofcancellation, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of have no right to share in the condemnation award or in any judgment for damages caused by the change of grade. If any insubstantial portion of the premises shall be lawfully taken or condemned or conveyed under threat of condemnation so that the premises can be used by Tenant for the purposes set forth in Section 6, and this Lease is not terminated by Landlord, Landlord shall repair the premises, and the Lease shall be amended to carry out any necessary repair reduce the Tenant's Proportion and restorationBase Rent in the proportion of the amount taken. No temporary taking of the premises and/or Tenant's rights therein shall terminate this Lease. Any award from a partial made by reason of any such temporary taking shall be paid in the following order of priority: first, belong entirely to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion shall not be entitled to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingshare therein.
Appears in 1 contract
Samples: Lease (Option Care Inc/De)
Eminent Domain. a. (a) If during the Term all or substantially all whole of the Land PREMISES or COMMON AREAS shall be acquired or condemned by eminent domain for any public or quasi-public use or purpose, then the TERM shall cease and terminate as of the Improvements date possession shall be taken by such public authority.
(b) If any part of the PREMISES shall be acquired or condemned as aforesaid,
(i) in the exercise event that such partial taking or condemnation shall render the PREMISES unsuitable for the business of LESSEE, then the TERM shall cease and terminate as of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements possession shall be taken by such public authority, or
(ii) in the exercise event that such partial taking or condemnation is not extensive enough to render the remaining PREMISES unsuitable for the business of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the PremisesLESSEE, then LESSOR shall promptly restore the Tenant shall have remaining PREMISES to a condition comparable to its condition at the right to terminate this Lease by written notice to the Landlord within ninety (90) days following the date time of such taking or purchase. In condemnation less the case of all other takings of less than all or substantially all of portion lost in the Land taking, and Improvements or such private purchases thereof, this Lease LEASE shall continue in full force and effect with respect to the remaining PREMISES and an equitable reduction of rents and other charges shall be made based upon the Tenant portion lost in the taking. This LEASE shall proceed with reasonable diligence following receipt be thereupon terminated as to the portion of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking PREMISES so taken.
(c) If less than ten percent (10%) of the COMMON AREAS shall be paid acquired or condemned as aforesaid, there shall be no change in this LEASE or LESSEE'S obligations hereunder.
(d) If more than ten percent (10%) of the following order of priority: firstCOMMON AREAS shall be acquired or condemned as aforesaid, to and if, as the Tenant for such restoration; and secondresult thereof, the balance ratio of square feet of COMMON AREAS to ground floor square feet of the Landlord sales area of the OFFICE BUILDING buildings is reduced to a ratio below four (4) parking spaces per 1,000 square feet, then the TERM shall cease and terminate as of the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award date possession shall be taken by such public authority, unless LESSOR shall take immediate steps toward increasing the parking ratio t a first charge against the award. If ratio at least equal to four (4) parking spaces per 1,000 square feet, in which event, this Lease LEASE shall continue be unaffected and shall remain in full force and effect following such takingwithout any reduction or abatement or rents and other charges.
(e) In the event of the termination of this LEASE as aforesaid, the Rent all rents and other charges due hereunder shall be permanently abated on a pro rata basis based on paid to the date of termination and any rents and other charges paid in advance shall be refunded.
(f) In the event of any condemnation or taking as aforesaid, whether whole or partial and regardless of the termination of this LEASE as aforesaid, LESSEE shall not be entitled to any part of the award paid for such condemnation and LESSOR is to receive the full amount of such award, LESSEE having hereby assigned to LESSOR any right or claim to any part thereof. Although all damages in the event of any condemnation are to belong to LESSOR, whether such damages are awarded as compensation for diminution in value of the Premises immediately prior to such taking as compared leasehold or to the value fee of the remaining Premises immediately after PREMISES, LESSEE shall have the right to claim and recover from the condemning authority, but not from LESSOR, such takingcompensation as may be separately awarded or recoverable by LESSEE'S business by reason of
(i) on account of any and all damage to LESSEE'S business by reason of the condemnation, and
(ii) for or on account of any cost or loss to which LESSEE might be put in removing LESSEE'S CHATTELS and interior alterations, decorations and improvements not constituting a part of the building installed in the PREMISES by LESSEE.
Appears in 1 contract
Samples: Lease Agreement (GLB Bancorp Inc)
Eminent Domain. a. If during the Term all or substantially all more than twenty percent (20%) of the Land and the Improvements shall be taken in the exercise floor area of the power Premises is taken for any public or quasi-public use under any governmental law, ordinance or regulation or by right of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant either party hereto shall have the right to terminate this Lease effective on the date physical possession is taken by written notice the condemning authority. If less than twenty percent (20%) of the floor area of the Premises is taken for any public or quasi-public use in said manner, this Lease shall not terminate. However, in the event any portion of the Premises is taken and the Lease not terminated, the fixed minimum rent specified herein shall be reduced during the unexpired term of this Lease in proportion to the Landlord within ninety (90) days following area of the Premises so taken and the Base Receipts amounts used in computing percentage rent shall also be reduced in the same proportion. Any such reduction shall be effective on the date of such taking or purchasephysical possession is taken by the condemning authority. In the case of all other takings of less than all or substantially all If any portion of the Land and Improvements Common Area of the Shopping Center is taken for any public or such quasi-public use under any governmental law, ordinance or regulation, or by right of eminent domain, or by private purchases purchase in lieu thereof, this Lease shall continue in full force and effect and effect, without reduction in rentals or other changes in the Tenant terms of this Lease unless the area so taken shall proceed with reasonable diligence following receipt exceed twenty-five percent (25%) of the total number of square feet in the Common Area of the Shopping Center, in which event either party may terminate this Lease. Any election to terminate this Lease following condemnation shall be evidenced by written notice of termination delivered to the other party not later than fifteen (15) days after the date on which physical possession is taken by the condemning authority and shall be deemed effective as of the date of said taking. If, however, the lease is not terminated following a partial condemnation, Landlord shall promptly make all necessary repairs or alterations to the Premises and/or Shopping Center which are necessary to restore the Premises and/or Shopping Center to an architectural whole. All compensation awarded for any taking (or the proceeds of private sale in lieu thereof) whether for the whole or a part of the Premises, shall be the property of the Landlord, whether such award is compensation for damages to Landlord’s or Tenant’s interest in the Premises, and Tenant hereby assigns all of its interest in any such award to carry out Landlord; provided, Landlord shall have no interest in any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, made to the Tenant for such restoration; loss of business or for the taking of Tenant’s fixtures and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in other property within the Premises so taken. Any costs reasonably incurred by if a separate award for such items is made to Tenant and such award does not reduce the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior made to such taking as compared to the value of the remaining Premises immediately after to such takingLandlord.
Appears in 1 contract
Samples: Lease Agreement (Dgse Companies Inc)
Eminent Domain. a. (a) If during the whole or a substantial part of the Premises shall be lawfully condemned or taken in any manner, this Lease and the Term all or substantially all of the Land shall forthwith cease and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting the taking of title possession by the condemning authority and the Landlord shall be entitled to receive the entire award granted in the taking authority. The award(s) proceeding for recovery of the Landlord's fee and leasehold interests without any such taking shall be shared by payment to the Tenant, the Tenant hereby assigning to the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use interest in the award, if any. The rent shall be apportioned as of the date the Tenant no longer has access to the Premises by reason of such taking. The Tenant may file a separate claim in the proceedings to recover its losses. Notification to Tenant should occur promptly after Landlord is notified of a condemnation, that will affect the Premises.
(b) If any part of the Building shall be so condemned or intended use of taken and if the Landlord determines in its sole discretion that the Building should be restored in such a way as to materially alter the Premises, then or that the Tenant shall have Building should be demolished, the right to Landlord may terminate this Lease by written notice and the Term in its sole discretion, without compensation to the Landlord Tenant, by notifying the Tenant of such termination within ninety sixty (9060) days following the date of such the taking or purchaseof possession by the condemning authority. In This Lease and the case Term shall expire on the date specified in the notice of all other takings of termination, which shall not be less than all or substantially all sixty (60) days after the giving of such notice, as fully and completely as if such date were the date herein before set for the expiration of the Land and Improvements or such private purchases thereofTerm, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking rent shall be paid in apportioned as of such date. Notification to Tenant should occur promptly after Landlord is notified of a condemnation, that will affect the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingPremises.
Appears in 1 contract
Samples: Lease Agreement (Emagin Corp)
Eminent Domain. a. If during the Term all or substantially all whole of the Land and the Improvements shall be Building or Premises is lawfully taken by condemnation or in the exercise of the power of eminent domain any other manner for any public or by private purchase in lieu thereofquasi-public purpose, then this Lease shall terminate on as of the date of vesting of title in the taking authority. The award(s) for any such taking taking, and Rent shall be shared by prorated to such date. If less than the Landlord and whole of the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award Building or Premises is so taken, this Lease shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or unaffected by private purchase in lieu thereofsuch taking, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the provided that (i) Tenant shall have the right to terminate this Lease by written notice to the Landlord given within ninety (90) days following of the date of such taking if twenty percent (20%) or purchase. In the case of all other takings of less than all or substantially all more of the Land Premises is taken and Improvements or such private purchases thereofthe remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (ii) Landlord shall have the right to terminate this Lease by notice to Tenant given within ninety (90) days after the date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall continue in full force and effect and terminate on the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restorationthirtieth (30th) day after either such notice. Any award from a partial taking The Rent shall be paid in the following order of priority: first, prorated to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value date of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the awardtermination. If this Lease shall continue continues in full force and effect following upon such partial taking, the Base Rent and Xxxxxx's Proportionate Share shall be permanently abated on a pro rata basis based on equitably adjusted according to the value remaining Rentable Area of the Premises immediately and Project.
b. In the event of any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be the exclusive property of Landlord, and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the condemning authority. Tenant, however, shall have the right, to the extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and damage to Xxxxxx's personal property.
c. In the event of a partial taking of the Premises which does not result in a termination of this Lease, Landlord shall restore the remaining portion of the Premises as nearly as practicable to its condition prior to such taking as compared the condemnation or taking, but only to the value extent of Building Standard Work. Tenant shall be responsible at its sole cost and expense for the remaining Premises immediately after to such takingrepair, restoration and replacement of any other Leasehold Improvements and Tenant's Property.
Appears in 1 contract
Eminent Domain. a. If during 23.1 In the Term all or substantially all event the whole of the Land and the Improvements Premises shall be taken in the for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or sold to prevent such taking, Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority.
23.2 In the event of a partial taking of the Premises for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain domain, or by private purchase in lieu thereofsold to prevent such taking, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right may elect to terminate this Lease by upon written notice of termination to the Landlord within ninety (90) days following Tenant. Termination pursuant to this section shall be effective as of the date of such taking or purchase. possession is required to be surrendered to said authority.
23.3 In the case event of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred for any public or quasi-public purpose by the parties in pursuing the any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following domain, or sold to prevent such taking, that renders the Rent Premises unsuitable for Tenant’s business operations in Tenant’s reasonable discretion, then Tenant may elect to terminate this Lease upon written notice of termination to Landlord. Termination pursuant to this Section shall be permanently abated on a pro rata basis based on the value effective as of the Premises immediately prior date possession is required to such be surrendered to said authority.
23.4 If upon any taking of the nature described in this Article 23 this Lease continues in effect, then Tenant shall restore the Building to a complete architectural whole and a functional condition and as compared nearly as reasonably possible to the value condition existing before the taking (but only to the extent that sufficient condemnation proceeds are made available to Tenant), and Tenant shall restore the Tenant improvements which Tenant either constructed or paid for and Tenant’s other alterations, additions and improvements to a complete architectural whole and a functional condition and as nearly as reasonably possible to the condition existing before the taking. Each party waives the provisions of the remaining Premises immediately after to such taking.Code of Civil Procedure
Appears in 1 contract
Eminent Domain. a. If during the Term all or substantially all of the Land and Premises or the Improvements shall be Apartment Community are taken in the exercise of the under power of eminent domain or by private purchase sale under threat of condemnation, or by action of the city or other authority, or if it shall suffer any direct or consequential damage for which the Landlord or Resident shall be entitled to compensation by reason of anything lawfully done in lieu pursuance of any public authority after the execution hereof and during said term or any extension of renewal thereof, then this Lease shall terminate on the date possession or title is taken, whichever is earlier, and the rent shall be prorated on a 30-day basis to that date. Substantially all of vesting the Premises or Apartment Community shall be deemed to have been taken or sold if the portion remaining of title either the Premises or the Apartment Community cannot, in the judgment of Landlord, be made reasonably usable for residential purposes in substantially the same manner as before the date of the taking authorityor sale. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land Premises or the Apartment Community are so taken or con- demned, then within thirty (30) days after the taking or sale, whichever is earlier, Landlord may terminate this Lease by giving written notice of termination to the Resident. If Landlord elects to terminate this Lease, this Lease shall terminate thirty (30) days after Landlord gives written notice of termination to Resident, and the Improvements rent shall be taken prorated on a 30-day month basis to that date. Until the Premises are reasonably usable for residential purposes, the Rent shall be abated and thereafter the rent shall be reduced in proportion to any diminution in fair rental value of the exercise Premises. All the compensation and payments resulting from any taking or sale of the Premises or the Apartment Community, under the power of eminent domain or by private purchase threat of condemnation, belong to Landlord, and Resident has no right or interest in lieu thereofthem, but such portion taken has a material adverse impact on the Tenant's use except for any compensation or intended use payments made for relocation of the Premises, then the Tenant shall have the right to terminate this Lease by written notice Resident. The Resident hereby assigns to the Landlord within ninety (90) days following the date any and all claims and demands for dam- ages on account of any such taking or purchase. In the case of all other takings of less than all condemnation or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid for compensation for anything lawfully done in the following order pursuance of priority: firstany public authority, and covenants with the Landlord that the Resident will from time to the Tenant for such restoration; time execute and second, the balance deliver to the Landlord such forth instruments of assignment of any such claims and demands as the Tenant in proportion Landlord shall request, provided however, that the Resident does not assign to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis Landlord any claim based on the value of the Premises immediately prior to such taking as compared Resident’s personal property or other improvements belonging to the value of Resident and installed by the remaining Premises immediately after to such takingResident with the Landlord’s written permission.
Appears in 1 contract
Samples: Lease Agreement
Eminent Domain. a. If during the Term all or substantially all any part of the Land and the Improvements Premises shall be taken in the exercise of by any public or quasi-public authority under the power of eminent domain or by private purchase conveyance in lieu thereof, then this Lease shall terminate as to any portion of the Premises so taken or conveyed on the date of vesting of when title vests in the taking authority. The award(s) for condemnor, and Landlord shall be entitled to any and all payments, income, rent, award or any interest therein whatsoever which may be paid or made in connection with such taking or conveyance. Tenant shall have no claim against Landlord or otherwise for the value of any unexpired term of this Lease. Notwithstanding the foregoing, Tenant shall be shared entitled to any compensation for its relocation expenses necessitated by such taking, but only to the Landlord and extent the Tenant based on condemning authority makes a separate award therefor or specifically identifies a portion of the relative value award as being therefor. Each party waives the provisions of each Section 1265.130 of their interests the California Code of Civil Procedure (which section allows either party to petition the Superior Court to terminate this Lease in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be event of a first charge against the award.
b. If during the Term less than all or substantially all partial taking of the Land and Premises). In the Improvements shall be taken in the exercise event of the power of eminent domain a partial taking, or by private purchase conveyance in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to may terminate this Lease as of the date of such taking if Tenant determines that the remaining portion of the Premises is not satisfactory for Tenant’s use. Any election by Tenant to so terminate shall be by written notice given to the Landlord within ninety fifteen (9015) days following from the date of such taking or purchaseconveyance. In the case of all other takings of less than all or substantially all If a portion of the Land Premises is taken by power of eminent domain or conveyance in lieu thereof and Improvements or such private purchases thereofneither Landlord nor Tenant terminates this Lease as provided above, then this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, as to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value part of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingnot so taken or conveyed.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Integrated Device Technology Inc)
Eminent Domain. a. If during the Term entire Building or a substantial part thereof or any part thereof which includes all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use substantial part of the Premises, then shall be taken or condemned by any competent authority for any public or quasi-public use or purpose, the Tenant Term of this Lease shall end upon and not before the earlier of the date when the possession of the part so taken shall be required for such use or purpose or the effective date of the taking, and without apportionment of the award to or for the benefit of Tenant. If any condemnation proceeding shall be instituted in which it is sought to take or damage any part of the Real Property, the taking of which would, in Landlord's opinion, prevent the economical operation of the Building, or if the grade of any street or alley adjacent to the Building is changed or any such street or alley is closed by any competent authority, and such taking, damage, change of grade or closing makes it necessary or desirable to remodel the Building to conform to the taking, damage, changed grade or closing, Landlord shall have the right to terminate this Lease by written notice to the Landlord within upon not less than ninety (90) days following days, written notice to Tenant prior to the date of such taking or purchasetermination designated in the notice. In the case of all other takings of less than all or substantially all either of the Land events above referred to, Rent at the then current rate shall be apportioned on a per diem basis and Improvements be payable to the date of the termination. No money or such private purchases thereof, this Lease other consideration shall continue in full force and effect and be payable by Landlord to Tenant for the right of termination. Tenant shall proceed with reasonable diligence following receipt of the have no right to claim or share in any condemnation award to carry out any necessary repair and restoration. Any award from award, whether for a total or partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value for loss of the Premises immediately prior to such taking as compared to the value Tenant's leasehold or improvements or other loss or expenses, or in any judgment for damages caused by any change of the remaining Premises immediately after to such takinggrade or street or alley closing.
Appears in 1 contract
Samples: Office Lease (Excal Enterprises Inc)
Eminent Domain. a. If during the Term all Premises or substantially all of the Land and the Improvements any substantial part thereof shall be taken in the exercise of by any competent authority under the power of eminent domain or by private purchase in lieu thereofbe acquired for any public or quasi-public use or purpose, then the Term of this Lease shall terminate on cease upon the date when the possession of vesting of title in Premises or the taking authority. The award(s) for any such taking part thereof so taken shall be shared by required for such use, and Lessee shall have no claim against Lessor for the Landlord and the Tenant based on the relative value of each any unexpired term of their interests this lease, nor shall Lessee participate in the Premisesany award. Any costs reasonably incurred by the parties in pursuing the eminent domain award If any condemnation proceeding shall be a first charge against instituted in which it is sought to take any part of Lessor's Building or the award.
b. If during land under it or if the Term less than all grade of any street or substantially all alley adjacent to the Building is changed by any competent authority and such change of grade makes it necessary or desirable to remodel the Land and Building to conform to the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereofchanged grade, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant Lessor shall have the right to terminate cancel this Lease by lease after having given written notice of cancellation to the Landlord within Lessee not less than ninety (90) days following prior to the date of such taking or purchasecancellation designated in the notice. In either of said events, rent at the case of all other takings of less than all or substantially all then current rate shall be apportioned as of the Land and Improvements date Lessee shall cease to have use of the Premises. No money or such private purchases thereof, this Lease other consideration shall continue in full force and effect be payable by the Lessor to the Lessee for the right of cancellation and the Tenant Lessee shall proceed with reasonable diligence following receipt of have no right to share in the condemnation award to carry out or in any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant judgment for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred damages caused by the parties in pursuing taking or the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value change of the Premises immediately prior grade. Nothing in this paragraph shall preclude an award being made to Lessee for loss of business or depreciation to and cost of removal of equipment or fixtures or Lessee's cost of moving, provided that such taking as compared award to Lessee would not reduce the value of the remaining Premises immediately after award that would otherwise be payable to such takingLessor.
Appears in 1 contract
Samples: Commercial Lease Agreement (KVH Industries Inc \De\)
Eminent Domain. a. If during (a) In the Term all event that title to the whole or substantially all any part of the Land leased premises shall be lawfully condemned or taken in any manner for any public or quasi- public use, this Lease and the Improvements term and estate hereby granted shall be taken in the exercise forthwith cease and terminate as of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title and Lessor shall be entitled to receive the entire award, Lessee hereby assigning to Lessor Lessee's interest therein, if any. However, nothing herein shall be deemed to give Lessor any interest in or to require Lessee to assign to Lessor any award made to Lessee for the taking authority. The award(sof leasehold improvements to the extent paid for by Lessee, personal property or fixtures belonging to Lessee or for the interruption of or damage to Lessee's business or for Lessee's moving expenses.
(b) for any such taking In the event that title to a part of the leased premises shall be shared by the Landlord so condemned or taken, and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all remainder of the Land and the Improvements shall be taken in the exercise leased premises is not reasonably capable of the power of eminent domain being restored to a complete parking lot usable by Lessee, Lessor or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to Lessee may terminate this Lease and the term and estate hereby granted by written notice to notifying the Landlord other party of such termination within ninety sixty (9060) days following the date of such taking or purchase. In vesting of title, and this Lease and the case term and estate hereby granted shall expire on the date specified in the notice of all other takings of termination, not less than all or substantially all sixty (60) days after the giving of such notice, as fully and completely as if such date were the date hereinbefore set for the expiration of the Land and Improvements or such private purchases thereofterm of this Lease, this Lease shall continue in full force and effect and the Tenant obligation of Lessee to pay Rent hereunder shall proceed with reasonable diligence following receipt terminate as of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingdate.
Appears in 1 contract
Samples: Lease Agreement (Grand Prix Association of Long Beach Inc)
Eminent Domain. a. Section 13.1. If during the Term all or substantially (a) all of the Land and floor area of the Improvements Premises, or so much thereof as renders the Premises wholly untenantable, shall be taken in the exercise acquired or condemned for any public or quasi-public use or purpose, or (b) a portion of the power Real Property, not including the Premises, is so acquired or condemned, but by reason of eminent domain such acquisition or by private purchase in lieu thereofcondemnation, Tenant no longer has means of access to the Premises, then this Lease and the Term shall terminate on end as of the date of the vesting of title in with the taking authoritysame effect as if that date were the Expiration Date. The award(s) In the event of any termination of this Lease and the Term pursuant to the provisions of this Article 13, Fixed Rent and Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of Fixed Rent or Additional Rent for any period after such date shall be refunded by Landlord to Tenant.
Section 13.2. In the event of any such acquisition or condemnation of all or any part of the Real Property, Landlord shall be entitled to receive the entire award for any such taking acquisition or condemnation. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term or Tenant’s Alterations, and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 13.2 shall be shared by deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the Landlord and the Tenant based on the relative then value of each of their interests any Tenant’s Property included in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain such taking and for any moving expenses, provided such award shall be made by the condemning authority in addition to, and shall not result in a first charge against reduction of, the awardaward made by it to Landlord.
b. Section 13.3. If during only a part of the Real Property shall be so acquired or condemned then, subject to Section 13.1, this Lease and the Term less than all or substantially all shall continue in force and effect. If a part of the Land Premises shall be so acquired or condemned and this Lease and the Improvements Term shall not be taken in the exercise terminated, Landlord, at Landlord’s expense, shall restore that part of the power of eminent domain Premises not so acquired or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the condemned so as to constitute tenantable Premises, then the Tenant shall have the right to terminate this Lease by written notice to the Landlord within ninety (90) days following . From and after the date of such taking or purchase. In the case vesting of all other takings of less than all or substantially all title, Fixed Rent and Additional Rent shall be reduced in the proportion which the area of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt part of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by acquired or condemned bears to the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value total area of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingacquisition or condemnation.
Appears in 1 contract
Samples: Lease Agreement (Telx Group, Inc.)
Eminent Domain. a. (a) If during the Term all or substantially all of the Land and the Improvements Property shall be taken in the exercise of permanently under the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be sold to a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the government threatening to exercise of the power of eminent domain or by private purchase in lieu thereofdomain, but such portion taken has a material adverse impact on the Tenant's use or intended use Term of this Lease Agreement shall cease as of the Premises, then the Tenant day possession shall have the right to terminate this Lease by written notice to the Landlord within ninety (90) days following the date of such taking or purchasebe so taken. In the case of all other takings of If less than all of the Property shall be taken permanently, or substantially if all of the Land and Improvements Property or such private purchases thereofany part thereof shall be taken temporarily under the power of eminent domain, (1) this Lease Agreement shall continue in full force and effect and shall not be terminated by virtue of such taking and the Tenant parties waive the benefit of any law to the contrary, and (2) there shall proceed with reasonable diligence following receipt be a partial abatement of Lease Payments as a result of the condemnation application of the Net Proceeds of any eminent domain award to carry out any necessary repair the prepayment of the Lease Payments hereunder, in an amount to be agreed upon by the Town and restoration. Any award from a partial taking shall be paid the Authority, and so certified to by the parties to the Trustee, such that the resulting Lease Payments represent fair consideration for the use and occupancy of the remaining usable portion of the Property, except to the extent of special funds, such as amounts in the following order Reserve Fund available for the payment of priority: firstLease Payments.
(b) The Town hereby covenants and agrees, to the Tenant for such restoration; extent it may lawfully do so, that so long as any of the Certificates remain outstanding and secondunpaid, the balance Town will not exercise the power of condemnation with respect to the Landlord leased property. The Town further covenants and the Tenant in proportion agrees, to the value of their relative interests in extent it may lawfully do so, that if for any reason the Premises so taken. Any costs reasonably incurred foregoing covenant is determined to be unenforceable or if the Town should fail or refuse to abide by such covenant and condemns the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such takingleased property, the Rent shall be permanently abated on a pro rata basis based on the appraised value of the Premises immediately prior leased property shall not be less than the greater of (i) if such Certificates are then subject to redemption, the principal and interest components of the Certificates outstanding through the date of their redemption, or (ii) if such taking as compared Certificates are not then subject to redemption, the amount necessary to defease such Certificates to the value of first available redemption date in accordance with the remaining Premises immediately after to such takingTrust Agreement.
Appears in 1 contract
Samples: Lease Agreement
Eminent Domain. a. If during the Term all or substantially all whole of the Land and the Improvements shall be Building or Premises is lawfully taken by condemnation or in the exercise of the power of eminent domain any other manner for any public or by private purchase in lieu thereofquasi-public purpose, then this Lease shall terminate on as of the date of vesting of title in the taking authority. The award(s) for any such taking taking, and Rent shall be shared by prorated to such date. If less than the Landlord and whole of the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award Building or Premise is so taken, this Lease shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or unaffected by private purchase in lieu thereofsuch taking, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the provided that (I) Tenant shall have the right to terminate this Lease by written notice to the Landlord given within ninety (90) days following after the date of such taking if twenty percent (20%) or purchase. In the case of all other takings of less than all or substantially all more of the Land Premises is taken and Improvements or such private purchases thereofthe remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (II) Landlord shall have the right to terminate this Lease by notice to Tenant given within ninety (90) days after the date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall continue in full force and effect and terminate on the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out any necessary repair and restorationthirtieth (30) day after either such notice. Any award from a partial taking The Rent shall be paid in the following order of priority: first, prorated to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value date of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the awardtermination. If this Lease shall continue continues in full force and effect following upon such partial taking, the Base Rent and Xxxxxx's Proportionate Share shall be permanently abated on a pro rata basis based on equitably adjusted according to the value remaining Rentable Area of the Premises immediately and Project.
b. In the event of any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be the exclusive property of Landlord, and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the condemning authority, Tenant, however, shall have the right, to the extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and damage to Xxxxxx's personal property.
c. In the event of a partial taking of the Premises which does not result in a termination of this Lease, Landlord shall restore the remaining portion of the Premises as nearly as practicable to its condition prior to such taking as compared the condemnation or taking, but only to the value extent of Building Standard Work. Tenant shall be responsible at its sole cost and expense for the remaining Premises immediately after to such takingrepair, restoration and replacement of any other Leasehold improvements and Tenant's Property.
Appears in 1 contract
Samples: Lease Addendum (Freei Networks Inc)
Eminent Domain. a. If during 12.01 - Eminent Domain --------------------
(a) In the Term all event that title to the whole or substantially all any part of the Land Premises shall be lawfully condemned or taken in any manner for any public or quasi-public use, this Lease and the Improvements term and estate hereby granted shall be taken in the exercise forthwith cease and terminate as of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title and Landlord shall be entitled to receive the entire award for the real property. Tenant hereby assigning to Landlord Xxxxxx's interest therein, if any, provided Tenant may make a claim for the value of its property and Tenant's expenses incurred.
(b) In the event that title to a part of the Building other than the Premises shall be so condemned or taken and if in the taking authority. The award(s) for any opinion of Landlord, the Building should be restored in such taking shall be shared by a way as to alter the Premises materially, Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to may terminate this Lease and the term and estate hereby granted by written notice to the Landlord notifying Tenant of such termination within ninety sixty (9060) days following the date of vesting of title, and this Lease and the term and estate hereby granted shall expire on the date specified in the notice of termination, which date shall be not less than sixty (60) days after the giving of such taking or purchasenotice, as fully and completely as if such date were the date hereinbefore set for the expiration of the term of this Lease, and the fixed monthly rent, additional rent, and other charges hereunder shall be apportioned as if such date. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereofevent, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt not be entitled to any portion of the condemnation Landlord's award to carry out hereunder, if any, nor shall Tenant have any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant claim against Landlord for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value unexpired portion of the remaining Premises immediately after to such takingterm.
Appears in 1 contract
Eminent Domain. a. If during A. In the event (i) the whole of the Demised Premises, or (ii) a portion of the Demised Premise large enough to prevent Tenant from continuing to operate its business in a reasonable manner, be acquired or condemned by eminent domain for any public or quasi-public use or purpose, then and in that event, the Term all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall cease and terminate on from the date of title vesting in such proceeding or the termination of title the right to possession, whichever is earlier.
B. In the event any substantial part thereof or of Landlord's Building or of the structure of which Landlord's Building is a part is so acquired or condemned as to render the Demised Premises untenantable or in the taking authority. The award(s) for any such taking event that a part of Landlord's Building, other than the Demised Premises, shall be shared by so condemned or taken and if, in the opinion of Landlord, the Building should be restored in such a way as to alter the Demised Premises materially, the Landlord may terminate this Lease and the Term and the estate hereby granted by notifying Tenant based on in writing of such termination, not less than thirty (30) days after giving such notice, as fully and completely as if such date were the relative value date hereinbefore set forth for the expiration for the term of each of their interests in this Lease, and the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award rent hereunder shall be a first charge against the awardapportioned as of said date.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the C. Tenant shall have no claim against Landlord for the right value of any unexpired Term of said Lease, nor a claim to terminate this Lease by written notice any part of an award in such proceeding and rent shall be adjusted and paid to the Landlord within ninety (90) days following the date of such determination.
D. Nothing herein contained shall be deemed to affect or be in derogation of any right or rights of Tenant against the condemning authority to claim and recover damages, if any, to or for the taking of its movable fixtures and equipment or purchase. In the case of all other takings of less than all expenses or substantially all of the Land and Improvements removal or relocation resulting from any such private purchases thereofcondemnation or acquisition, this Lease shall continue in full force and effect and the provided that any such damages awarded to Tenant shall proceed with reasonable diligence following receipt of not reduce the condemnation award payable to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingLandlord.
Appears in 1 contract
Eminent Domain. a. If during the Term all or substantially all any part of the Land and the Improvements shall be Premises are taken in the exercise of by any public or quasi-public authority under the power of eminent domain domain, or by private purchase any agreement in lieu thereofthereof (a "taking"), then this Lease shall terminate on as to the portion of the Premises taken effective as of the date of vesting of title in the taking authoritytaking. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be If only a first charge against the award.
b. If during the Term less than all or substantially all portion of the Land and the Improvements shall be taken in the exercise of the power of eminent domain Premises is taken, Landlord or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to may terminate this Lease by as to the remainder of the Premises upon written notice to the Landlord other party within ninety (90) days following after the taking; provided, however, that Tenant's right to terminate this Lease is conditioned upon the remaining portion of the Premises being of such size or configuration that such remaining portion of the Premises is unusable or uneconomical for Tenant's business. Landlord shall be entitled to all compensation, damages, income, rent awards and interest thereon whatsoever which may be paid or made in connection with any taking and Tenant shall have no claim against Landlord or any governmental authority for the value of any unexpired term of this Lease or of any of the improvements or Alterations in the Premises; provided, however, that the foregoing shall not prohibit Tenant from prosecuting a separate claim against the taking authority for an amount separately designated for Tenant's relocation expenses or the interruption of or damage to Tenant's business or as compensation for Tenant's personal property, trade fixtures, Alterations or other improvements paid for by Tenant so long as any award to Tenant will not reduce the award to Landlord. In the event of a partial taking of the Premises which does not result in a termination of this Lease, the Monthly Rent, Tenant's Electrical Charge and Additional Rent under Paragraphs 5 and 7 hereunder shall be equitably reduced. If all or any part of the Real Property other than the Premises is taken, Landlord may terminate this Lease upon written notice to Tenant given within ninety (90) days after the date of such taking or purchase. In taking.
b. Notwithstanding the case of all other takings of less than foregoing, if all or substantially all any portion of the Land and Improvements or such private purchases thereofPremises is taken for a period of time ending prior to the end of the term of this Lease, this Lease shall continue remain in full force and effect and the Tenant shall proceed continue to pay all rent and to perform all of its obligations under this Lease; provided, however, that Tenant shall be entitled to all compensation, damages, income, rent awards and interest thereon that is paid or made in connection with reasonable diligence following receipt such temporary taking of the condemnation award Premises (or portion thereof), except that any such compensation in excess of the rent or other amounts payable to carry out Landlord hereunder shall be promptly paid over to Landlord as received. Landlord and Tenant each hereby waive the provisions of any necessary repair and restoration. Any award from applicable existing or future Legal Requirement providing for, or allowing either party to petition the courts of the state in which the Real Property is located for, a termination of this Lease upon a partial taking shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to and/or the value of the remaining Premises immediately after to such takingBuilding.
Appears in 1 contract
Eminent Domain. a. If In the event of any taking or damaging during the Term term hereof of all or substantially all any part of the Land and Leased Premises or any interest therein by reason of any exercise of the Improvements shall be taken power of eminent domain, whether by condemnation proceeding or otherwise, or of any voluntary transfer (the right to make the same being hereby reserved to Lessor without liability of any sort or nature to Lessee) of all or any part of the Leased Premises or any interest therein made in the lieu or avoidance of any exercise of the power of eminent domain (any such taking, damaging or transfer being hereinafter referred to as an "appropriation"), if all of the Lease Premises are taken, this Lease, if no sooner terminated under other provisions hereof, shall automatically terminate by private purchase in lieu thereof, then this Lease shall terminate on limitation and be of no further force or effect as of the date of vesting of title in the taking authority. The award(s) for any such taking shall be shared Leased Premises are actually physically occupied by the Landlord and condemnor. In the Tenant based on the relative value event of each an appropriation of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land Leased Premises, and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenantreason thereof Lessee's use or intended permitted use of the PremisesLeased Premises is materially interfered with, then the Tenant shall have the right to either party may terminate this Lease by written notice thereof to the Landlord other party within ninety thirty (9030) days following the date of after such taking or purchasepartial taking. In the case event this Lease is not so terminated by reason of all other takings an appropriation of less than all of the Leased Premises, such appropriation shall not alter, impair or substantially otherwise affect, in any way, the liability of Lessee to pay the full rental and to perform all of the Land covenants and Improvements comply with all of the conditions contained in this Lease. All sums awarded or such private purchases thereof, this Lease shall continue in full force and effect agreed upon between Lessor and the Tenant shall proceed with reasonable diligence following receipt condemning authority for the taking of the condemnation interest of Lessor, whether as damages or as compensation, will be the property of Lessor. All sums awarded or agreed between the Lessee and the condemning authority for the taking of the interest of the Lessee whether as damages or as compensation will be the property of Lessee; provided that any portion of an award that if paid to carry out any necessary repair and restoration. Any Lessee, would reduce or diminish the total award from a partial taking otherwise paid to Lessor, shall instead be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such takingLessor.
Appears in 1 contract
Samples: Land Lease (Emissions Testing Inc)
Eminent Domain. a. (a) If during the Term all or substantially all of the Land and the Improvements Property shall be taken in the exercise of permanently under the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be sold to a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the government threatening to exercise of the power of eminent domain or by private purchase in lieu thereofdomain, but such portion taken has a material adverse impact on the Tenant's use or intended use Term of this Lease Agreement shall cease as of the Premises, then the Tenant day possession shall have the right to terminate this Lease by written notice to the Landlord within ninety (90) days following the date of such taking or purchasebe so taken. In the case of all other takings of If less than all of the Property shall be taken permanently, or substantially if all of the Land and Improvements Property or such private purchases thereofany part thereof shall be taken temporarily under the power of eminent domain, (1) this Lease Agreement shall continue in full force and effect and shall not be terminated by virtue of such taking and the Tenant parties waive the benefit of any law to the contrary, and (2) there shall proceed with reasonable diligence following receipt be a partial abatement of Lease Payments as a result of the condemnation application of the Net Proceeds of any eminent domain award to carry out any necessary repair the prepayment of the Lease Payments hereunder, in an amount to be agreed upon by the Town and restoration. Any award from a partial taking shall be paid in the following order Corporation (with the prior approval of priority: firstthe Municipal Bond Insurer), and so certified to by the parties to the Trustee, such that the resulting Lease Payments represent fair consideration for the use and occupancy of the remaining usable portion of the Property, except to the extent of special funds are available for the payment of Lease Payments.
(b) The Town hereby covenants and agrees, to the Tenant for such restoration; extent it may lawfully do so, that so long as any of the Certificates remain outstanding and secondunpaid, the balance Town will not exercise the power of condemnation with respect to the Landlord Property. The Town further covenants and the Tenant in proportion agrees, to the value of their relative interests in extent it may lawfully do so, that if for any reason the Premises so taken. Any costs reasonably incurred foregoing covenant is determined to be unenforceable or if the Town should fail or refuse to abide by such covenant and condemns the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such takingProperty, the Rent shall be permanently abated on a pro rata basis based on the appraised value of the Premises immediately prior leased property shall not be less than the greater of (i) if such Certificates are then subject to redemption, the principal and interest components of the Certificates outstanding through the date of their redemption, or (ii) if such taking as compared Certificates are not then subject to redemption, the amount necessary to defease such Certificates to the value of first available redemption date in accordance with the remaining Premises immediately after to such takingTrust Agreement.
Appears in 1 contract
Samples: Lease Agreement
Eminent Domain. a. If during (a) In the Term all event that title to the whole or substantially all any part of the Land Premises shall be lawfully condemned or taken in any manner for any public or quasi-public use, this Sublease and the Improvements term and estate hereby granted shall be taken in the exercise forthwith cease and terminate as of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title, and Sublandlord shall be entitled to receive the entire award, Subtenant hereby assigning to Sublandlord Subtenant's interest therein, if any.
(b) In the event that title to a part of the Building other than the Premises shall be so condemned or taken, and if in the taking authority. The award(s) for any opinion of Sublandlord, the Building should be restored in such taking shall be shared by a way as to alter the Landlord Premises materially, Sublandlord may terminate this Sublease and the Tenant based on the relative value term and estate hereby granted by notifying Subtenant of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to terminate this Lease by written notice to the Landlord termination within ninety sixty (9060) days following the date of vesting of title, and this Sublease and the term and estate hereby granted shall expire on the date specified in the notice of termination, which date shall be not less than sixty (60) days after the giving of such taking or purchasenotice, as fully and completely as if such date were the date hereinbefore set for the expiration of the term of this Sublease, and the Fixed Rent, additional rent, and other charges hereunder shall be apportioned as of such date. In the case such event, Subtenant shall not be entitled to any portion of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereofSublandlord's award hereunder, this Lease if any, nor shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of the condemnation award to carry out Subtenant have any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant claim against Sublandlord for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value unexpired portion of the remaining Premises immediately after to such takingterm.
Appears in 1 contract
Samples: Sublease Agreement (Genesee Corp)
Eminent Domain. a. If during 12.01 - Eminent Domain -----------------------
(a) In the Term all event that title to the whole or substantially all any part of the Land Premises shall be lawfully condemned or taken in any manner for any public or quasi-public use, this Lease and the Improvements term and estate hereby granted shall be taken in the exercise forthwith cease and terminate as of the power of eminent domain or by private purchase in lieu thereof, then this Lease shall terminate on the date of vesting of title and Landlord shall be entitled to receive the entire award for the real property. Tenant hereby assigning to Landlord Tenant's interest therein, if any, provided Tenant may make a claim for the value of its property and Tenant's expenses Incurred.
(b) In the event that title to a part of the Building other than the Premises shall be so condemned or taken and if in the taking authority. The award(s) for any opinion of Landlord, the Building should be restored in such taking shall be shared by a way as to alter the Premises materially, Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then the Tenant shall have the right to may terminate this Lease and the term and estate hereby granted by written notice to the Landlord notifying Tenant of such termination within ninety sixty (9060) days following the date of vesting of title, and this Lease and the term and estate hereby granted shall expire on the date specified in the notice of termination, which date shall be not less than sixty (60) days after the giving of such taking or purchasenotice, as fully and completely as if such date were the date hereinbefore set for the expiration of the term of this Lease, and the fixed monthly rent, additional rent, and other charges hereunder shall be apportioned as if such date. In the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the event. Tenant shall proceed with reasonable diligence following receipt not be entitled to any portion of the condemnation Landlord's award to carry out hereunder. if any, nor shall Tenant have any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, to the Tenant claim against Landlord for such restoration; and second, the balance to the Landlord and the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior to such taking as compared to the value unexpired portion of the remaining Premises immediately after to such takingterm.
Appears in 1 contract
Samples: Office Space Lease (Broadview Networks Holdings Inc)
Eminent Domain. a. If during the Term all Premises or substantially all of the Land and the Improvements shall be any material portion thereof are taken in the exercise of under the power of eminent domain or by private purchase in lieu thereofsold under the threat of the exercise of said power (collectively “Condemnation”), then this Lease shall terminate on as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than five percent (5%) of vesting of title in the taking authority. The award(s) for any such taking shall be shared by the Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or substantially all of the Land and the Improvements shall be taken in the exercise of the power of eminent domain or by private purchase in lieu thereof, but such building portion taken has a material adverse impact on the Tenant's use or intended use of the Premises, then or more than ten percent (10%) of the Tenant land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee’s option, to be exercised in writing within sixty (60) days after Lessor shall have given Lessee written notice of such Condemnation (or in the right to absence of such notice, within sixty (60) days after the condemning authority shall have taken possession) terminate this Lease by written notice to the Landlord within ninety (90) days following as of the date of the condemning authority takes such taking or purchasepossession. In If Lessee does not terminate this Lease in accordance with the case of all other takings of less than all or substantially all of the Land and Improvements or such private purchases thereofforegoing, this Lease shall continue remain in full force and effect and as to the Tenant shall proceed with reasonable diligence following receipt portion of the condemnation award to carry out any necessary repair and restoration. Any award from a partial taking Premises remaining, except that the Rent shall be paid in the following order of priority: first, to the Tenant for such restoration; and second, the balance to the Landlord and the Tenant reduced in proportion to the value reduction in utility of their relative interests in the Premises so takencaused by such Condemnation. Any costs reasonably incurred by Condemnation awards and/or payments shall be the parties in pursuing the eminent domain property of Lessor, whether such award shall be a first charge against made as compensation for diminution in value of the award. If this Lease shall continue in full force and effect following such takingleasehold, the Rent shall be permanently abated on a pro rata basis based on the value of the Premises immediately prior part taken, or for severance damages; provided, however, that Lessee shall be entitled to such taking as compared any compensation for Lessee’s relocation expenses, loss of business goodwill and/or Personal Property, without regard to whether or not this Lease is terminated pursuant to the value provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the remaining Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises immediately after to caused by such taking.Condemnation
Appears in 1 contract