Eminent Domain. 22.1. In the event (a) the whole of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken 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 such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof. 22.2. 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, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use. 22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord. 22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant. 22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 3 contracts
Sources: Lease Agreement (Ascend Wellness Holdings, LLC), Lease Agreement (Ascend Wellness Holdings, LLC), Purchase and Sale Agreement
Eminent Domain. 22.1. In the event (a) If the whole or any part of the Premises or Project (bincluding parking areas) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken for any public or quasi-public purpose quasipublic use by any lawful a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority by exercise in lieu of the right of appropriation, condemnation or eminent domain, or sold to prevent such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant or Landlord may for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease effective as of the date possession Tenant is required to be surrendered to such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of a partial taking surrender possession of the Premises for any public or quasi-public purpose by any lawful power or authority by exercise as a result of right of appropriation, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion . If a part of the Premises occupied by Tenant was so takenor Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, Landlord may elect to terminate then this Lease (except with regard to (a) items occurring prior shall be terminated as to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration part taken or earlier termination hereof) conveyed as of the date Tenant surrenders possession; Landlord shall make such taking if such taking isrepairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in Landlord’s sole opinion, of a material nature such as proportion to make it uneconomical to continue use the part of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3Premises so taken or conveyed. Tenant shall be entitled not have the right to any award that is specifically awarded as compensation for (a) assert a claim against the taking governmental authority exercising its power of eminent domain based upon the value of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new locationleasehold interest. Except as set forth in the previous sentence, any award All compensation awarded for such taking or conveyance shall be the property of 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 in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord.
22.4. If, upon any taking such compensation as may be awarded to Tenant on account of the nature described in this Sectioninterruption of Tenant's business, this Lease continues in effect, then Landlord shall promptly proceed moving and relocation expenses and depreciation to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss removal of any portion of the Premises no longer available to Tenant's trade fixtures and personal property.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 3 contracts
Sources: Lease (Wam Net Inc), Lease Agreement (Cray Inc), Conference Center Lease Agreement (Cray Inc)
Eminent Domain. 22.1. 24.1 In the event (a) the whole of the Premises Premises, or (b) such part thereof as shall substantially interfere with Tenant's ’s use and occupancy of the Premises for the Permitted Use thereof, shall be taken 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 such said authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. 24.2 In the event of a partial taking of the Premises Building or the Project, or of drives, walkways or parking areas serving the Building or the Project for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole sold to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole reasonable opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Useoffice or laboratory space.
22.3. 24.3 Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's ’s personal property that was installed solely at Tenant's ’s expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. 24.4 If, upon any taking of the nature described in this SectionArticle 24, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises Premises, the Building and the Project, as applicable, to substantially their same condition prior to such partial taking. To taking to the extent such restoration is infeasiblefeasible, as determined by Landlord in its sole and absolute discretion, the . The Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 3 contracts
Sources: Lease (NanoString Technologies Inc), Lease (NanoString Technologies Inc), Lease (NanoString Technologies Inc)
Eminent Domain. 22.1. In the event (a) that the whole or substantially all of the Leased Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be condemned or taken in any manner (including agreement between Landlord and any governmental authority authorized to exercise such right) for any public or quasi-public purpose by any lawful power or authority by exercise use, this Lease shall forthwith cease and terminate as of the right date of appropriationvesting 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, condemnation or eminent domain, or sold to prevent such taking, Tenant or Landlord may terminate this Lease then effective as of the date possession is required to of vesting of title, the Rent reserved hereunder for such part shall be surrendered equitably abated and this Lease shall continue as to such authoritypart 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 with regard to (y) items occurring prior that Rent shall ▇▇▇▇▇ during the term of such temporary taking as to the taking and (z) provisions portion of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2Leased Premises so taken. In the event of a partial taking any condemnation or taking, Landlord shall be entitled to receive the entire award in the condemnation proceeding, including any award made for the value of the Premises for any public or quasi-public purpose estate vested by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard in Tenant, and Tenant hereby expressly assigns to (a) items occurring prior Landlord any and all right, title and interest of Tenant now or hereafter arising in or to the taking any such award or any part thereof, and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) receive no part of such award. Notwithstanding the taking of Tenant's personal property that was installed at Tenant's expense and (b) foregoing, the costs of Tenant moving shall have the right to a new location. Except as set forth in the previous sentence, any separate award for such taking shall be the property of Landlordits trade fixtures, equipment and relocation costs.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 3 contracts
Sources: Lease Agreement, Lease Agreement (CONTRAFECT Corp), Lease Agreement (CONTRAFECT Corp)
Eminent Domain. 22.1. In the event (a) the whole A. If a portion of the Premises Building, or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use Premises, shall be lawfully taken or condemned for any public or quasi-public use or purpose, or conveyed under threat of such condemnation, and as a result thereof, the Premises cannot be used for the same purpose by any lawful power and with the same utility as before such taking or authority by exercise conveyance, the terms of this Lease shall end upon, and not before, the date of the right taking of appropriationpossession by the condemning authority, condemnation or eminent domain, or sold to prevent and without apportionment of the award. In such takingevent, Tenant or Landlord may terminate this Lease effective hereby assigns to Landlord, Tenant's interest in such award, if any. Current rent shall be apportioned as of the date possession is required to of such termination. If any part of the Building shall be surrendered to such authorityso taken or so condemned, except with regard to (y) items occurring prior or, if the grade of any street or alley adjacent to the Building is changed by any government authority and such taking and (z) provisions or change of grade makes it necessary or desirable to demolish, substantially remodel, or restore the Building, Landlord shall have the right to cancel this Lease that, by their express terms, survive the expiration or earlier termination hereofupon not less than ninety (90) days' prior notice to Tenant.
22.2. In the event of B. If 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, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied shall be lawfully taken or condemned or conveyed under threat of condemnation but thereafter the Premises can be used by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) same purpose and with substantially the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Sectionsame utility, this Lease continues in effect, then shall not be terminated and Landlord shall promptly proceed repair the Premises, Building, and/or common area (to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasibleapplicable), as determined by Landlord in its sole and absolute discretion, the Rent Lease shall be decreased proportionately amended, if applicable, to reflect reduce Tenant's Proportion and Base Rent in the loss proportion of any portion the amount of the Premises taken. No money or other consideration shall be payable by Landlord to Tenant for any right of cancellation or temporary taking and Tenant shall have no longer available right to Tenantshare in any condemnation award or in any judgment for damage caused by a change of grade.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 3 contracts
Sources: Office Lease (Biotel Inc.), Asset Purchase Agreement (Biotel Inc.), Office Lease (Biotel Inc.)
Eminent Domain. 22.126.1. In the event (a) the whole of the Premises Premises, or (b) such part thereof as shall substantially interfere with Tenant's ’s use and occupancy of the Premises for the Permitted Use thereof, shall be taken 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 such said authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.226.2. In the event of a partial taking of the Premises Building or the Project, or of drives, walkways or parking areas serving the Building or the Project for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole sold to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Useoffice or laboratory space.
22.326.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's ’s personal property that was installed at Tenant's expense and ’s expense, (b) the costs of Tenant moving to a new locationlocation and (c) lost profits, goodwill and leasehold improvements paid for by Tenant. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.426.4. Iflf, upon any taking of the nature described in this SectionArticle 26, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises Premises, the Building and the Project, as applicable, to substantially their same condition prior to such partial taking. To the extent such restoration is infeasiblefeasible, as determined by Landlord in its sole and absolute reasonable discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 2 contracts
Sources: Lease (Ardelyx, Inc.), Lease (Ardelyx, Inc.)
Eminent Domain. 22.1. In the event (a) If the whole or a material portion of the Premises (or (b) such part thereof as shall substantially interfere with Tenant's use and or occupancy of the Premises for the Permitted Use 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 any lawful power or authority by exercise portion of the right of appropriationLand or Building are so taken, condemnation condemned or eminent domainconveyed and as a result thereof, or sold to prevent such takingin Landlord’s judgment, Tenant or Landlord may terminate the Premises cannot be used for Tenant’s permitted use as set forth herein, then this Lease effective shall cease and terminate as of the date possession is required to when title vests in such governmental or quasi-governmental authority and the Fixed Rent and Additional Rent shall be surrendered to abated on the date when such title vests in such governmental or quasi-governmental authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of If less than a partial taking 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 by (including sale under threat of such a taking), the Fixed Rent and Tenant’s proportionate share shall be equitably adjusted (on the 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 this Lease shall otherwise continue in full force and effect. In any lawful power or authority by exercise of right of appropriationcase, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether Tenant shall have no claim against Landlord for any portion of the Premises occupied by Tenant was so taken, Landlord amount that may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease damages as a result of any damage governmental or destructionquasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all 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 award payable to Landlord.
Appears in 2 contracts
Sources: Lease Agreement (Histogenics Corp), Lease Agreement (Histogenics Corp)
Eminent Domain. 22.1. In the event If (a1) the whole or a material portion of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use 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 lieu of condemnation, or (3) if all or any lawful power or authority by exercise portion of the right of appropriationProperty are so taken, condemnation condemned or eminent domainconveyed and as a result thereof, or sold to prevent such takingin Landlord’s reasonable judgment, Tenant or Landlord may terminate the Premises are rendered untenantable for the Permitted Use, then this Lease effective shall cease and terminate as of the earlier of the date possession as of 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 Taxes and Operating Expenses, shall be surrendered to such authority, except with regard to (y) items occurring prior to the taking and (z) provisions abated as of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2that date. In the event of If less than a partial taking material portion of the Premises shall be taken or condemned by a governmental or quasi-governmental authority for any public or quasi-public use or purpose by (including sale under threat of such a taking), then this Lease shall continue in full force and 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 lawful power or authority by exercise of right of appropriationcase, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether Tenant shall have no claim against Landlord for any portion of the Premises occupied amount that may be awarded as damages as a result of any governmental or quasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all rights of Tenant to damages therefor are hereby assigned by Tenant was so takento 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 award payable to Landlord may elect to terminate this Lease and Landlord’s mortgagee (except with regard to (a) items occurring prior to if any). As used herein, “material portion of the taking and (b) provisions of this Lease Premises” shall mean such amount that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinionreasonable judgment, of a material nature such as to make it uneconomical to continue use would render more than fifty percent of the unappropriated portion for purposes of renting space Premises untenantable for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 2 contracts
Sources: Sublease (Larimar Therapeutics, Inc.), Office Lease Agreement (Zafgen, Inc.)
Eminent Domain. 22.1. In the event (a) a. If the whole or any portion of the Premises Premises, Building or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use parking areas shall be taken or condemned by any competent authority for any public or quasi-public use or purpose by any lawful power or authority by exercise and such taking substantially thwarts the intended use of the right of appropriationfacility by TENANT, condemnation or eminent domain, or sold to prevent such taking, Tenant or Landlord may terminate this Lease effective shall cease and terminate as of the date possession is required to be surrendered to such on which title shall vest thereby in that authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of b. If a partial taking portion of the Premises shall be taken or condemned by any competent authority for any public or quasi-public use or purpose by any lawful power or authority by exercise of right of appropriation, condemnationand such taking does not negatively affect the ingress and egress to the Premises, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of substantially thwart the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue intended use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded facility by TENANT, as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Sectionreasonably determined by TENANT, this Lease continues and the terms hereof shall not cease or terminate, but the Rent payable after the date on which TENANT shall be required to surrender possession of such portion shall be reduced in effect, then Landlord proportion to the decreased use suffered by TENANT as the parties may agree or as shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as be determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenantarbitration.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in c. In the event of any damage taking or destruction. Accordinglycondemnation in whole or in part, the parties hereby waive entire resulting award of damages shall belong to LANDLORD without any deduction therefrom for the provisions value of any Applicable Laws (and any successor statutes) permitting the parties to terminate unexpired term of this Lease as a result of or for any damage other estate or destructioninterest in the Premises now or later vested in TENANT. TENANT assigns to LANDLORD all its right, title, and interest in any and all such awards, except any award for the TENANT’S business damages. TENANT shall not be prohibited from pursuing its own action for business damages against the condemning authority. LANDLORD shall not be responsible to the TENANT for any damages caused by the taking.
Appears in 2 contracts
Sources: Lease Agreement (Trulieve Cannabis Corp.), Lease Agreement (Trulieve Cannabis Corp.)
Eminent Domain. 22.1. In the event (a) the whole Either party may terminate this Lease if any material part of the Premises is taken or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken condemned for any public or quasi-public purpose use under Law, by any lawful power eminent domain or authority by exercise of conveyance in lieu thereof (a “Taking”). Landlord shall also have the right of appropriation, condemnation or eminent domain, or sold to prevent such taking, Tenant or Landlord may terminate this Lease if there is a Taking of any portion of the Building or Property that would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The terminating party shall provide written notice of termination to the other party within forty-five (45) days after it first receives notice of the Taking. The termination shall be effective as of the effective date of any order granting possession is required to be surrendered to such to, or vesting legal title in, the condemning authority, except with regard to (y) items occurring prior to the taking and (z) provisions of . If this Lease thatis not terminated, by their express terms, survive Base Rent and Tenant’s Share shall be appropriately adjusted to account for any reduction in the expiration or earlier termination hereof.
22.2. In the event of a partial taking square footage of the Premises Building or Premises. All compensation awarded for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking Taking shall be the property of Landlord.
22.4. IfThe right to receive compensation or proceeds is expressly waived by Tenant, upon any taking provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of such claim does not diminish the amount of Landlord’s award. If only a part of the nature described in this Section, Premises is subject to a Taking and this Lease continues in effectis not terminated, then Landlord shall promptly proceed to Landlord, with reasonable diligence, will restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any remaining portion of the Premises no longer available as nearly as practicable to Tenant.
22.5the condition immediately prior to the Taking. This Tenant hereby waives any and all rights it might otherwise have pursuant to Section 22 sets forth 1265.130 of the terms and conditions upon which this Lease may terminate in the event California Code of any damage or destruction. AccordinglyCivil Procedure, the parties hereby waive the provisions of any Applicable Laws (and any similar or successor statutes) permitting the parties to terminate this Lease as a result of any damage or destructionLaws.
Appears in 2 contracts
Sources: Office Lease Agreement (On24 Inc), Office Lease Agreement (Velti PLC)
Eminent Domain. 22.1. In the event (a) If the whole or any part of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken for any public or quasi-public purpose use by any lawful a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority by exercise in lieu of the right of appropriation, condemnation or eminent domain, or sold to prevent such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant or Landlord may for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease effective as of the date possession Tenant is required to be surrendered to such authority, except with regard to (y) items occurring prior to surrender possession of the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2Premises. In the event of If a partial taking part of the Premises shall be taken or conveyed but the remaining part is tenantable and adequate for any public Tenant’s use, then this Lease shall be terminated as to the part taken or quasi-public purpose by any lawful power conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole conveyed tenantable; and the rent shall be reduced in proportion to prevent such taking, then, without regard to whether any portion the part of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration taken or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3conveyed. Tenant shall be entitled to any award that is specifically All compensation awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking or conveyance shall be the property of 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 in and to any such award. However, ▇▇▇▇▇▇ shall have the right to recover from the governmental authority, but not from Landlord.
22.4. If, upon any taking such compensation as may be awarded to Tenant on account of the nature described in this Sectioninterruption of Tenant’s business, this Lease continues in effectmoving and relocation expenses and depreciation to and removal of ▇▇▇▇▇▇’s trade fixtures and personal property, then Landlord shall promptly proceed to restore so long as such award does not reduce the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to TenantLandlord’s award.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 2 contracts
Sources: Office Lease (MBX Biosciences, Inc.), Office Lease (MBX Biosciences, Inc.)
Eminent Domain. 22.1. In the event (a) the whole of the Premises Premises, Building or (b) Property, or such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use occupation thereof, shall be taken 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 is sold in lieu of or to prevent such taking, Tenant or Landlord may either party shall have the right to terminate this Lease effective as of the date possession is required to be surrendered to such said authority. Except as provided below, except with regard to (y) items occurring prior to Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, and (z) provisions Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Lease that, by their express terms, survive Section 12.01 shall be deemed to give Landlord any interest in any separate award made to Tenant for the expiration taking of personal property and fixtures belonging to Tenant or earlier termination hereof.
22.2for Tenant's moving expenses. In the event the amount of a partial taking property or the type of estate taken shall not substantially interfere with the Premises for any public or quasi-public purpose by any lawful power or authority by exercise conduct of right of appropriation, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so takenTenant's business, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to the entire amount of the award without deduction for any award that is specifically awarded as compensation for (a) the taking estate or interest of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises Building to substantially their same condition prior to such partial taking. To taking less the extent portion thereof lost in such restoration is infeasiblecondemnation, as determined by Landlord in its sole and absolute discretion, the Base Rent shall be decreased proportionately to reflect reduced by the loss of any time during which, and the portion of the Premises no longer available to Tenantwhich, Tenant shall have been deprived of possession on account of said taking and restoration.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 2 contracts
Sources: Lease (Eden Bioscience Corp), Lease Agreement (Data Critical Corp)
Eminent Domain. 22.1. In If the event (a) the whole Building, or a substantial part thereof or a substantial part of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use Premises, 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 purpose use or purpose, the term of this Lease shall end upon and not before the date of the taking of possession by the condemning authority and without apportionment of the award. Tenant hereby assigns to Landlord ▇▇▇▇▇▇'s interest, if any, in such award and specifically agrees that any lawful power or authority by exercise such 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 appropriation, condemnation or eminent domain, or sold the condemning authority to prevent proceed with such taking, Tenant or Landlord may terminate this Lease effective . Current rent shall be apportioned as of the date possession of such termination. If any part of the Building other than the Premises or not constituting a substantial part of the Premises, shall be so taken or condemned (or conveyed under threat of such taking or condemnation), or if the grade of any street adjacent to the Building is required changed by any competent authority and such taking or change of grade makes it necessary or desirable to be surrendered substantially remodel or restore the Building, Landlord shall have the right to such authority, except with regard to cancel this Lease upon not less than ninety (y90) items occurring days notice prior to the taking and (z) provisions date of this Lease that, cancellation designated in the notice. No money or other consideration shall be payable by their express terms, survive Landlord to Tenant for the expiration or earlier termination hereof.
22.2. 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 appropriationcancellation, condemnation, and Tenant shall have no right to share in any condemnation award or eminent domain, in any judgment for damages or sole to prevent such in any proceeds of any sale made under any threat of condemnation or taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled have the right to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any separately pursue its own award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate relocation expenses in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destructionsuch condemnation proceedings.
Appears in 2 contracts
Sources: Lease Agreement (Alliance Data Systems Corp), Lease Agreement (Improvenet Inc)
Eminent Domain. 22.1. In the event If more than twenty-five (a25%) the whole per cent of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken for or appropriated by any public or quasi-public purpose by any lawful authority under the power or authority by exercise of the right of appropriation, condemnation or eminent domain, or sold either party hereto shall have the right, at its option, to prevent such taking, Tenant or Landlord may terminate this Lease effective as of the date possession is required Lease, and Landlord shall be entitled to any and all income, rent, award, or any interest therein whatsoever which may be surrendered to paid or made in connection with such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of a partial taking of the Premises for any public or quasi-public purpose by use or purpose, and Tenant shall have no claim against Landlord for the value of any lawful power unexpired term of this Lease. If either less than or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion more than twenty-five (25%) per cent of the Premises occupied by Tenant was is taken and neither party elects to terminate as herein provided, the rental thereafter to be paid shall be equitably reduced based upon the proportion of the Premises taken. If more than fifty percent (50%) of the Building other than the Premises may be so takentaken or appropriated, Landlord may elect shall have the right at its option to terminate this Lease (except with regard to (a) items occurring prior and shall be entitled to the entire award as above provided. Notwithstanding any of the foregoing in the event that any taking under the power of eminent domain shall affect the Premises in such a manner that, in Tenant's reasonable opinion, such damage materially and (b) provisions adversely interferes with the conduct of Tenant's business, Tenant shall have the right to terminate this Lease thatupon written notice thereof to Landlord. Notwithstanding the foregoing, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to that portion of any award that which is specifically awarded as compensation separately stated which compensates Tenant for (a) the taking of Tenant's personal property that was installed at Tenant's expense relocation expenses and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenantfixtures, equipment and personal property.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 2 contracts
Sources: Lease (Quokka Sports Inc), Lease (Quokka Sports Inc)
Eminent Domain. 22.120.1. In If at any time during the event (a) the whole term of this Lease or any renewal, a portion of the Demised Premises or (b) such part thereof the Building and the Land of which the Demised Premises are a part, as shall substantially interfere with would render Tenant's ’s use and occupancy unprofitable or impractical, is taken or appropriated by virtue of the Premises for the Permitted Use shall be taken eminent domain, or other similar proceedings, or condemned for any public or quasi-public purpose by any lawful power or authority by exercise use, Tenant will have the right and privilege of terminating this Lease, termination to be effective upon the earlier of the taking of possession by or vesting of title to the Demised Premises in the 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 first to occur of: (a) the taking of possession by, or (b) vesting of title in the condemning authority. All of the Rent and other charges and payments reserved herein will be permanently abated from the time of such taking or appropriation. In the event of any taking pursuant to this paragraph 20, or a conveyance in lieu thereof, Tenant shall have no right or entitlement to any portion of appropriationany award given to Landlord. Tenant shall have the right to pursue its own rights and remedies from the condemning authority, condemnation but such right shall not interfere with, abridge the rights of, nor substantially reduce the award payable to Landlord.
20.2. In the event the entire Demised Premises is taken or appropriated by virtue of eminent domain, or sold to prevent such takingother similar proceedings, Tenant or Landlord may terminate is condemned for any public or quasi-public use, then this Lease effective as of will terminate on the date possession is required to be surrendered to such authority, except with regard to earlier of: (yi) items occurring prior to the taking and of possession by or (zii) provisions vesting of this Lease that, by their express terms, survive title in the expiration or earlier termination hereofcondemning authority.
22.220.3. In the event of a partial taking or appropriation of the Demised Premises for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to Building and the taking and (b) provisions Land not resulting in a termination of this Lease thatLease, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall will be entitled to any award that an abatement of rent, immediately upon the taking, in such manner as is specifically awarded as compensation for (a) just and equitable. In the taking of Tenant's personal property that was installed at Tenant's expense event such amount cannot be agreed upon between the parties, the amount will be determined by arbitration in accordance with the rules and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking procedures of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to TenantAmerican Arbitration Association.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 2 contracts
Sources: Lease (Targacept Inc), Lease Agreement (Targacept Inc)
Eminent Domain. 22.1. In 21.1 If the event (a) the whole Building, or a substantial part thereof, or a substantial part of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use Common Areas, shall be lawfully taken or condemned (or conveyed under threat of such taking or condemnation) for any public or quasi-public purpose by any lawful power use or authority by exercise purpose, the Term of this Lease shall end upon, and not before, the date of the right taking of appropriation, condemnation or eminent domain, or sold to prevent such taking, Tenant or Landlord may terminate this Lease effective possession by the condemning authority. Current Rent shall be apportioned as of the date possession of termination. If any part of the Building, other than the Premises or not constituting a substantial part of the Premises, shall be so taken or condemned (or conveyed under threat of such taking or condemnation), or if the grade of any street adjacent to the Building is required changed by any competent authority and such taking or change of grade makes it necessary or desirable to substantially remodel or restore the Building, which could not be surrendered accomplished without the total relocation of Tenant, Landlord shall have the right to such authority, except with regard to cancel this Lease upon not less than sixty (y60) items occurring days' notice prior to the taking 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 (z) provisions 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. Nothing in this Section shall prevent Tenant from making and pursuing a claim against the condemning authority in its own right for termination of its leasehold interest, moving costs and other amounts to which Tenant may be entitled. If this Lease thatis not canceled, by their express terms, survive the expiration or earlier termination hereof.
22.2. 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, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking shall continue in full force and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately equitably abated in proportion to reflect any reduction in the loss of any portion size and utility of the Premises no longer available to TenantPremises.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 2 contracts
Sources: Lease Agreement (Chaparral Network Storage Inc), Lease Agreement (Chaparral Network Storage Inc)
Eminent Domain. 22.1. In If at any time during the event (a) term of this Lease the whole of the entire Premises or (b) such any part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken for any public or quasi-public purpose by any lawful power or authority by as a result of the exercise of the right power of appropriationeminent domain or by an agreement in lieu thereof, condemnation or eminent domain, or sold to prevent such taking, Tenant or Landlord may terminate this Lease effective shall terminate as to the part so taken as of the date possession is required to be surrendered to such taken by the condemning authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration . If all or earlier termination hereof.
22.2. 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, or sole to prevent such taking, then, without regard to whether any substantial portion of the Premises occupied by Tenant was so shall be taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease thatat its option, by their express terms, survive the expiration or earlier termination hereof) as giving Tenant written notice of such taking if termination within thirty (30) days of such taking is, in Landlord’s sole opinion, taking. If all or a Portion of a material nature such as to make it uneconomical to continue the Premises taken are so substantial that Tenant's use of the unappropriated portion for purposes Premises is substantially impaired, Tenant may terminate this Lease at its option, but giving landlord written notice of renting space for such termination within thirty (30) days of such taking. If neither party terminates this Lease pursuant this Article, this Lease shall remain in full force and effect, except that the Permitted Use.
22.3rent payable by Tenant hereunder shall be reduced in the proportion that the area of the Premises so taken bears to the total Premises. Tenant Landlord shall be entitled to and Tenant hereby assigns to Landlord the entire amount of any award that is specifically awarded as compensation for (a) in connection with such taking. Nothing in this Article shall give Landlord any interest in or preclude Tenant from seeking, on its own account, any award attributable to the taking of personal property or trade fixtures belonging to Tenant, or for the interruption of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlordbusiness.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement (A-Z South State Corp)
Eminent Domain. 22.1. 23.1 In the event (a) the whole of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use Project shall be taken 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 such said authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. 23.2 In the event of a partial taking of the Premises Project for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole sold to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, then Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, is of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space portions for the Permitted Usepurposes for which they were intended, and Tenant may elect to terminate this Lease if such taking is of material detriment to, and substantially interferes with, Tenant’s use and occupancy of the Premises. In no event shall this Lease be terminated when such a partial taking does not have a material adverse effect upon Landlord or Tenant or both. Termination by either party pursuant to this section shall be effective as of the date possession is required to be surrendered to said authority.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, 23.3 If upon any taking of the nature described in this Section, Article 23 this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises remaining portion of the Project, including all improvements and fixtures located in the Premises, to substantially their same condition prior to such partial taking; provided, however, Landlord’s obligation hereunder shall be limited to the amount of the condemnation proceeds. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Basic Annual Rent shall be decreased abated proportionately to reflect on the loss of any portion basis of the square feet of the Rentable Area of the Project or Premises no longer available to Tenanttaken.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 2 contracts
Sources: Lease (Genelux Corp), Lease (Genelux Corp)
Eminent Domain. 22.1. In Except as hereinafter provided, if the event (a) the whole of the Premises Premises, or (b) such part portion thereof as shall substantially interfere with Tenant's use and to render the balance (if reconstructed to the maximum extent practicable in the circumstances) unsuitable for continued occupancy of the Premises for the Permitted Use purposes contemplated under this Lease, or if access to the Building or Premises, shall be taken for any public by condemnation 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, the Landlord and the Tenant or Landlord may terminate this Lease effective as of shall each have the date possession is required to be surrendered to such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. 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, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior by notice to the taking and other of its desire to do so, provided that such notice is given not later than thirty (b30) provisions days after receipt by the Tenant of this Lease that, by their express terms, survive notice of the expiration or earlier termination hereof) as effective date of such taking if such taking istaking. If so much of the Building shall be so taken that the Landlord reasonably determines, in Landlord’s sole opiniongood faith, of that it would be necessary to substantially alter the Building so that a material nature rebuilt Building will not be substantially similar to the Building before such as to make it uneconomical to continue use of taking, the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore have the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties right to terminate this Lease by giving notice to the Tenant of the Landlord’s desire to do so not later than thirty (30) days after the effective date of such taking. Should any part of the Premises 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 a result nearly like the condition of the Premises prior to such taking as shall be practicable, subject, however, to applicable laws and codes then in existence. The Landlord shall have no obligation to expend in the aforesaid restoration more than the proceeds of any damage award received in any condemnation or destructioneminent domain proceeding, or any sum paid in lieu thereof.
Appears in 2 contracts
Sources: Lease Agreement (Fulcrum Therapeutics, Inc.), Lease Agreement (Fulcrum Therapeutics, Inc.)
Eminent Domain. 22.1. 23.1 In the event (a) the whole of the Premises or (b) such part the Building or any portion thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken 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 upon the earlier of sixty (60) days after notice of such taking or the date possession is required to be surrendered to such said authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. 23.2 In the event of a partial taking of the Premises or the Building for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole sold to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, then Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, is of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space portions for the Permitted Usepurposes for which they were intended, and Tenant may elect to terminate this Lease if such taking is of material detriment to, and substantially interferes with, Tenant’s use and occupancy of the Premises. In no event shall this Lease be terminated when such a partial taking does not have a material adverse effect upon Landlord or Tenant or both. Termination by either party pursuant to this section shall be effective upon the earlier of sixty (60) days after notice of such partial taking or as of the date possession is required to be surrendered to said authority.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, 23.3 If upon any taking of the nature described in this Section, Article 23 this Lease continues in effect, then Landlord shall promptly proceed to restore the remaining portion of the Premises and the Building to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Basic Annual Rent shall be decreased abated proportionately to reflect on the loss basis of any portion the rental value of the Premises no longer available as restored after such taking compared to Tenantthe rental value of the Premises prior to such taking.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 2 contracts
Sources: Lease (Biocept Inc), Lease (Biocept Inc)
Eminent Domain. 22.1. In the event (a) If the whole or a material portion of the Premises (or (b) such part thereof as shall substantially interfere with Tenant's use and or occupancy of the Premises for the Permitted Use 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 any lawful power or authority by exercise portion of the right of appropriationLand or Building are so taken, condemnation condemned or eminent domainconveyed and as a result thereof, or sold to prevent such takingin Landlord’s reasonable but sole judgment, Tenant or Landlord may terminate the Premises cannot be used for Tenant’s Permitted Use as set forth herein, then this Lease effective shall cease and terminate as of the date possession is required to when title vests in such governmental or quasi-governmental authority and Fixed Rent and Additional Rent shall be surrendered to abated on the date when such title vests in such governmental or quasi-governmental authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of If less than a partial taking 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 by (including sale under threat of such a taking), Landlord shall promptly restore the remaining portion of the Premises to an architecturally and functionally complete unit, and Fixed Rent and Tenant’s Proportionate Share shall be equitably adjusted (on the 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 this Lease shall otherwise continue in full force and effect. In any lawful power or authority by exercise of right of appropriationcase, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether Tenant shall have no claim against Landlord for any portion of the Premises occupied by Tenant was so taken, Landlord amount that may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease damages as a result of any damage governmental or destructionquasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all 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, value of furnishing and trade fixtures, or for any other award which would not reduce the award payable to Landlord.
Appears in 2 contracts
Sources: Lease Agreement (Spero Therapeutics, Inc.), Lease Agreement (Spero Therapeutics, Inc.)
Eminent Domain. 22.1. In the event (a) the whole If all or any part of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be is taken for any public or quasi-public purpose use by any lawful a governmental authority under the power of eminent domain or is conveyed to a governmental authority by exercise in lieu of the right of appropriation, condemnation or eminent domain, or sold to prevent such taking, and if the taking or conveyance causes the remaining part of the Premises to be untenantable and inadequate for use by Tenant or Landlord for the purpose for which they were leased, then Tenant, at its option and by giving notice within fifteen (15) days after the taking, may terminate this Lease effective as of the date possession Tenant is required to be surrendered to such authority, except with regard to (y) items occurring prior to surrender possession of the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2Premises. In the event of If a partial taking part of the Premises is taken or conveyed but the remaining part is tenantable and adequate for any public Tenant's use, then this Lease shall be terminated as to the part taken or quasi-public purpose by any lawful power conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole conveyed tenantable; and the Rent shall be reduced in proportion to prevent such taking, then, without regard to whether any portion the part of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to taken or conveyed. All compensation awarded for the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking conveyance shall be the property of Landlord without any deduction therefrom for any estate of Tenant, and Tenant hereby assigns to Landlord all its right, title and interest in and to the award. Tenant shall have the right, however, to recover from the governmental authority, but not from Landlord.
22.4. If, upon any taking such compensation as may be awarded to Tenant on account of the nature described in this Sectioninterruption of Tenant's business, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole moving and absolute discretion, the Rent shall be decreased proportionately to reflect the loss relocation expenses; and removal of any portion of the Premises no longer available to Tenant's trade fixtures and personal property.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 2 contracts
Sources: Sublease (Marvell Technology Group LTD), Lease (Pc Tel Inc)
Eminent Domain. 22.1. In the event (a) the whole If less than substantially all of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken for any public or quasi-public purpose by any lawful power purposes, having a material impact on Tenant's operations, Tenant will promptly, at its sole cost and expense, restore, repair, replace or authority by exercise of rebuild the right of appropriationimprovements so taken as nearly as practicable to the condition, condemnation or eminent domain, or sold quality and class thereof immediately prior to prevent such taking, or with such changes or alterations as Tenant or Landlord may terminate shall elect to make in conformity with Paragraph 23 of this Lease effective as Lease. In performing its obligations, Tenant shall be entitled to condemnation proceeds under the same terms and conditions set forth for casualty proceeds in Paragraph 11 hereof. Any condemnation proceeds in excess of the date possession is required amount claimed by any lender of Landlord, and such amounts as are made available to Tenant for restoration or repair of the Premises, shall be surrendered the sole and exclusive property of Landlord. Tenant shall have the right to such authorityparticipate in condemnation proceedings with Landlord, except with regard and shall be entitled to (y) items occurring prior to receive any separate award made by the taking and (z) provisions condemning authority in respect of this Lease that, by their express terms, survive the expiration business interruption or earlier termination hereofbusiness relocations.
22.2. In (b) If the event Landlord is entitled to condemnation proceeds as describing the next to last sentence of Paragraph 13(a), each installment of Fixed Rent thereafter payable hereunder shall be reduced by a partial taking fraction thereof, the numerator of which shall be the proceeds retained by Landlord and the denominator of which shall be the Purchase Price specified in the Basic Lease Information.
(c) If all or substantially all of the Premises shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise purposes, then the provisions of right of appropriation, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions Paragraph 14 of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Useshall apply.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 2 contracts
Sources: Lease Agreement (Caterair International Inc /Ii/), Lease Agreement (Caterair International Inc /Ii/)
Eminent Domain. 22.1. In the event (a) If the whole of the Premises (or (bif less than all, but, in the reasonable judgment of Tenant, the remaining portion cannot be feasibly operated as then used or intended to be used) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken for any public or quasi-public purpose use under any statute or by any lawful power or authority by exercise of the right of appropriationeminent domain or by private purchase in lieu thereof, condemnation or eminent domain, or sold to prevent such taking, Tenant or Landlord may terminate then this Lease effective shall automatically terminate as of the date that possession is required to be surrendered to such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereofhas been taken.
22.2. (b) In the event of a partial taking or condemnation which takes less than all of the Premises for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriationand the Lease is not terminated as set forth in Section 22(a) above, condemnationthen Tenant, or eminent domainsubject to the exceptions provided below, or sole shall promptly restore the Premises to prevent such takingan architectural whole, thenand this Lease shall continue in full force and effect; provided, without regard however, that the Base Rent shall thereafter be decreased in proportion to whether any portion the amount of the Premises occupied taken.
(c) Landlord and Tenant each covenant and agree to seek separate awards in any condemnation proceedings and to use their respective best efforts to see that such separate awards are made at all stages of all proceedings. If the order or decree in any condemnation or similar proceeding shall fail to separately state the amount to be awarded to Landlord and Tenant by way of compensation, damages, rent, the costs of demolition, removal or restoration, or otherwise, then the award should be divided as follows:
(i) First, to the payment of all demolition and construction costs associated with restoration if the improvements are to be restored by Tenant was so taken, and/or all costs of removal of rubble and debris if Tenant is obligated to remove the same; and then
(ii) The remaining proceeds shall be applied as follows:
(1) Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to shall receive the taking fair market value of the Land; and (b2) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlordall remaining proceeds.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 2 contracts
Sources: Ground Lease Agreement (Campus Crest Communities, Inc.), Ground Lease Agreement (Campus Crest Communities, Inc.)
Eminent Domain. 22.1. In the event (a) the whole of the Premises or (b) such part thereof as shall substantially interfere with Tenant's ’s use and occupancy of the Premises for the Permitted Use shall be taken 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 such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. 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, or sole sold to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's ’s personal property or trade fixtures that was were purchased or installed at Tenant's expense ’s expense, including without limitation, any crops or inventory at the Property and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 2 contracts
Sources: Lease Agreement (Innovative Industrial Properties Inc), Lease Agreement (Innovative Industrial Properties Inc)
Eminent Domain. 22.1. In the event (a) If the whole or any portion of the Premises Premises, Building or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use parking areas shall be taken or condemned by any competent authority for any public or quasi-public use or purpose by any lawful power or authority by exercise and such taking substantially thwarts the intended use of the right of appropriationfacility by Tenant, condemnation or eminent domain, or sold to prevent such taking, Tenant or Landlord may terminate this Lease effective shall cease and terminate as of the date possession is required to be surrendered to such on which title shall vest thereby in that authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of (b) If a partial taking portion of the Premises shall be taken or condemned by any competent authority for any public or quasi-public use or purpose by any lawful power or authority by exercise of right of appropriation, condemnationand such taking does not negatively affect the ingress and egress to the Premises, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of substantially thwart the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue intended use of the unappropriated portion for purposes of renting space for facility by Tenant, as reasonably determined by Tenant, this Lease and the Permitted Use.
22.3. terms hereof shall not cease or terminate, but the Rent payable after the date on which Tenant shall be entitled required to any award that is specifically awarded as compensation for (a) the taking surrender possession of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking portion shall be reduced in proportion to the property of Landlorddecreased use suffered by Tenant as the parties may agree or as shall be determined by arbitration.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in (c) In the event of any damage taking or destruction. Accordinglycondemnation in whole or in part, the parties hereby waive entire resulting award of damages shall belong to Landlord without any deduction therefrom for the provisions value of any Applicable Laws (and any successor statutes) permitting the parties to terminate unexpired term of this Lease as a result of or for any damage other estate or destructioninterest in the Premises now or later vested in Tenant Tenant assigns to Landlord all its right, title, and interest in any and all such awards, except any award for the Tenant’s business damages. Tenant shall not be prohibited from pursuing its own action for business damages against the condemning authority. Landlord shall not be responsible to the Tenant for any damages caused by the taking.
Appears in 2 contracts
Sources: Lease Agreement (Trulieve Cannabis Corp.), Lease Agreement (Trulieve Cannabis Corp.)
Eminent Domain. 22.1. In the event (a) If the whole of the Lease Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken or condemned in any eminent domain, condemnation, compulsory acquisition or like proceeding by any competent authority, this Lease Agreement shall terminate as of the date of such taking or condemnation. The LESSOR shall refund to the LESSEE the Security Deposit, less any amount that may be properly deducted therefrom in accordance with the terms of this Lease Agreement. If only part of the Leased Premises or the RCBC Plaza Tenancy Areas shall be taken or condemned in any eminent domain, condemnation, compulsory acquisition or like proceeding, by any competent authority for any public or quasi-public purpose by any lawful power use or authority by exercise purpose, then this Lease Agreement shall continue to be effective, subject to the proportionate reduction of the Rent due. In either of the foregoing events, the LESSEE shall not have any right or claim to any part of appropriation, condemnation the compensation or eminent domain, award granted or sold to prevent be granted to the LESSOR as consideration for such taking. However, Tenant or Landlord may terminate this Lease effective as provided that the compensation to be received by the LESSOR shall not be reduced thereby, nothing contained herein shall preciude the LESSEE from claiming, proving and receiving from the condemning authority a separate award for the value of any of the date possession is required to be surrendered to such authority, except with regard to (y) items occurring prior to LESSEE's property taken by the taking and (z) provisions of this Lease that, by their express terms, survive condemning authority which the expiration or earlier termination hereofLESSEE could have rightfully removed from the Leased Premises hereunder.
22.2. 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, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement (Access Worldwide Communications Inc)
Eminent Domain. 22.1. In the event (a) If the whole or a material portion of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use 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 any lawful power or authority by exercise portion of the right of appropriationProperty are so taken, condemnation condemned or eminent domainconveyed and as a result thereof, or sold to prevent such takingin Landlord’s reasonable judgment, Tenant or Landlord may terminate the Premises cannot be used for Tenant’s Permitted Use as set forth herein, then this Lease effective shall cease and terminate as of the date possession is required to when title vests in such governmental or quasi-governmental authority and Base Rent and Additional Rent shall be surrendered to abated on the date when such title vests in such governmental or quasi-governmental authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of If less than a partial taking material portion of the Premises shall be taken or condemned by a governmental or quasi-governmental authority for any public or quasi-public use or purpose by (including sale under threat of such a taking), Base Rent and Additional Rent shall be equitably abated on the date when such title vests in such governmental or quasi-governmental authority and this Lease shall otherwise continue in full force and effect. In any lawful power or authority by exercise of right of appropriationcase, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether Tenant shall have no claim against Landlord for any portion of the Premises occupied by Tenant was so taken, Landlord amount that may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease damages as a result of any damage governmental or destructionquasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all 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 award payable to Landlord. As used herein, “material portion of the Premises” shall mean such amount that, in Landlord’s or Tenant’s reasonable judgment, would render the Premises untenantable for the normal conduct of Tenant’s business.
Appears in 1 contract
Eminent Domain. 22.125.1. In the event (a) the whole of the Premises all Affected Areas or (b) such part thereof as shall substantially interfere (in Tenant’s reasonable determination) with Tenant's ’s use and occupancy of the Premises for the Permitted Use shall be taken 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 such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.225.2. In the event of a partial taking of (a) the Premises Building or the Project or (b) drives, walkways or parking areas serving the Building or the Project for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole sold to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, and provided Landlord also terminates the leases of other tenants similarly affected by such taking, Landlord may elect to terminate this Lease (except with regard to (ay) items occurring prior to the taking and (bz) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole reasonable opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Useoffice or laboratory space.
22.325.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's ’s personal property that was installed at Tenant's ’s expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.425.4. If, upon any taking of the nature described in this SectionArticle, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises Affected Areas to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute commercially reasonable discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant. In addition, prior to and during any such period of restoration, all Base Rent and Operating Expenses to be paid by Tenant pursuant to this Lease shall be abated proportionately based on the extent to which Tenant’s use of the Premises for the Permitted Use is impaired.
22.525.5. This Section 22 Article sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Eminent Domain. 22.1. 23.1 In the event (a) the whole of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken 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 such said authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. 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, or sole sold to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, then Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, is of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space portions for the Permitted Usepurposes for which they were intended, and Tenant may elect to terminate this Lease if such taking is of material detriment to, and substantially interferes with, Tenant’s use and occupancy of the Premises. In no event shall this Lease be terminated when such a partial taking does not have a material adverse effect upon Landlord or Tenant or both. Termination by either party pursuant to this section shall be effective as of the date possession is required to be surrendered to said authority.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, 23.3 If upon any taking of the nature described in this Section, Article 23 this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises remaining portion of the Premises, and all improvements and fixtures located thereon, to substantially their same condition prior to such partial taking; provided, however, Landlord’s obligation hereunder shall be limited to the amount of the condemnation proceeds. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Basic Annual Rent shall be decreased abated proportionately on the basis of the rental value of the Premises, including improvements and fixtures, as restored after such taking compared to reflect the loss of any portion rental value of the Premises no longer available prior to Tenantsuch taking.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Lease Agreement (Salmedix Inc)
Eminent Domain. 22.1. In the event (a) the whole If all or any part of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be either taken or condemned for any public or quasi-public purpose by any lawful power use or authority by exercise of the right of appropriation, condemnation or eminent domainpurpose, 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 such authority, except transferred by agreement in connection with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of a partial taking of the Premises for any public or quasi-public use or purpose by with or without any lawful power condemnation action or authority by exercise proceeding being instituted (either such event herein called a "Taking"), and if such Taking is permanent, the Term shall automatically terminate with respect to the part of right the Premises so Taken as of appropriation, condemnation, the date when the possession of such part is required. If all or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by is subject to a temporary Taking, this Lease shall remain in full force and effect and Tenant was shall continue to perform all terms, conditions and covenants of this Lease. If a portion of the Premises or Building or Complex is taken so takenas to require, in Landlord's reasonable judgment, a substantial alteration or reconstruction of the remaining portions, Landlord, at its sole election, may terminate this Lease as of the date when possession of the part so Taken is required. Without obligation to Tenant, Landlord may elect agree to terminate transfer to any condemnor all or any portion of the Building sought by such condemnor, free from this Lease and the rights of Tenant hereunder, without first requiring that any action or proceeding be instituted or, if instituted, pursued to a judgment.
(except with regard b) Landlord shall be entitled to the entire award made to it for any Taking, provided, however, that: (a) items occurring prior Landlord shall have no interest in any award made to Tenant specifically for its relocation expenses, the taking Taking of personal property or fixtures belonging to Tenant, or the interruption of or a damage to Tenant's business, if any such award is made separately to Tenant and not as a part of an award or damages recoverable by Landlord, and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to receive the entire award made in connection with any award that is specifically awarded as compensation for (a) temporary Taking allocable to the taking period prior to the expiration of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of LandlordTerm.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then (c) Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties Tenant hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting California Code of Civil Procedure Section 1265.130 to the parties to terminate extent that such provisions are inconsistent with this Lease as a result of any damage or destructionLease.
Appears in 1 contract
Eminent Domain. 22.1. In If the event (a) the whole Building, or a substantial part thereof, or a substantial part of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use Leased Premises, shall be lawfully taken or condemned (or conveyed under threat of such taking or condemnation) for any public or quasi-public purpose by any lawful power use or authority by exercise purpose, the Term of this Lease shall end upon, and not before, the date of the right taking of appropriationpossession by the condemning authority, condemnation or eminent domainand without apportionment of the award. Tenant hereby assigns to Landlord Tenant’s interest, or sold to prevent if any, in such taking, Tenant or Landlord may terminate this Lease effective award. Current Rent shall be apportioned as of the date possession 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 or condemnation), or if the grade of any street adjacent to the Building Complex is required changed by any competent authority and such taking or change of grade makes it necessary or desirable to be surrendered substantially remodel, replace or restore any part of the Building Complex, Landlord shall have the right to such authority, except with regard to cancel this Lease upon not less than ninety (y90) items occurring calendar days’ notice prior to the taking 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 (z) provisions Tenant shall have no right to share in any condemnation award, or in any judgment for damages, or in any proceeds of this Lease that, by their express terms, survive the expiration any sale made under any threat of condemnation or earlier termination hereof.
22.2taking. In the event of a partial taking of this Lease is not canceled, 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, or sole to prevent such taking, thenLease shall continue in full force and effect, without regard abatement or reduction of rental due hereunder. Notwithstanding the foregoing, nothing contained herein shall prevent Tenant from commencing a separate proceeding against the condemning authority to whether recover any portion of the Premises occupied by Tenant was so taken, Landlord award it may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage such taking or destructioncondemnation.
Appears in 1 contract
Sources: Office Lease (Heatwurx, Inc.)
Eminent Domain. 22.1. A. In the event (a) that the whole entire or a substantial part of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be condemned or taken in any manner for any public or quasi-public use, and as a result thereof the Premises cannot be used for the same purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or sold as prior to prevent such taking, Tenant or Landlord may terminate this Lease effective and the Term shall cease and terminate as of the date possession is required to be surrendered to such authority, except with regard to (y) items occurring prior to the taking and (z) provisions taken. For purposes of this Lease thatSection, by their express terms, survive the expiration or earlier termination hereofphrase "substantial part of the Premises" is defined as and is understood to mean "more than twenty-five percent (25%) of the Premises."
22.2. In the event of B. If less than a partial taking substantial part of the Premises shall be so condemned or taken, and after such taking the Premises can be used for the same purpose as prior thereto, the Term shall cease only on the part so taken, as of the date possession shall be taken by such public authority, and Tenant shall pay full Rental up to that date (with appropriate refund by Landlord of such Rental as may have been paid in advance for any period subsequent to the date possession is taken) and thereafter the Rental shall be equitably adjusted. Landlord shall, at its expense, make all necessary repairs or alterations to the Building and/or the Premises so as to constitute the remaining Building and/or Premises a complete architectural unit, provided that Landlord shall not be obligated to undertake any such repairs and alterations if the cost thereof exceeds the award resulting from such taking.
C. If part of the Building or any adjacent property or street shall be condemned by a public or quasi-public purpose authority, and in the reasonable opinion of the Landlord, the Building should be demolished or restored in such a way as to alter the Premises materially, Landlord may terminate this Lease and the Term shall expire on the date specified in the notice of termination as fully and
D. All damages awarded for any taking by any lawful a public authority under the power or authority by exercise of right of appropriation, condemnation, or eminent domain, whether for the whole or sole to prevent such taking, then, without regard to whether any portion a part of the Premises occupied by Tenant was so takenand/or the Building, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking whether such damages shall be awarded as compensation for diminution in value of the nature described in this Sectionleasehold or to the fee of the Building, this Lease continues in effect, then Landlord shall promptly proceed to restore provided however the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent Tenant shall be decreased proportionately entitled to reflect an award and reimbursement for relocation expenses and business interruption, provided the loss of award to the Landlord is not diminished or reduced in any portion of the Premises no longer available to Tenantway.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Lease Agreement (Delphi Information Systems Inc /De/)
Eminent Domain. 22.1. In If the event (a) the whole of the Premises Property or (b) Premises, or such part portion thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation condemnation, or eminent domain, or sold to prevent such taking, Tenant or Landlord may either party shall have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority.
14.3.1 Lessee shall not assert any claim against Lessor or the taking authority for any compensation because of such authoritytaking and Lessor shall be entitled to receive the entire amount of any award without deduction for any estate or interest of ▇▇▇▇▇▇. However, except with regard ▇▇▇▇▇▇ shall not be precluded from claiming from the condemning authority any compensation to (y) items occurring prior which ▇▇▇▇▇▇ may otherwise lawfully be entitled in respect to personal property or fixtures belonging to ▇▇▇▇▇▇, or for relocating to new space, or for the unamortized portion of any Tenant Improvements installed in the Premises to the taking and (z) provisions extent they were paid for by Lessee or for the loss of this Lease that, by their express terms, survive the expiration or earlier termination hereofgoodwill.
22.2. 14.3.2 In the event of a partial taking of less than the Premises for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriationentire Premises, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord Lessee may elect to terminate this the Lease by giving thirty (except with regard 30) days written advanced notice to (a) items occurring prior to the taking and (b) provisions of this Lease thatLessor. If Lessee does not so elect, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord Lessor shall promptly proceed to restore the Premises (including the Tenant Improvements and any Lessee’s alterations) to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole taking and absolute discretion, the Rent a proportionate allowance shall be decreased proportionately made to reflect Lessee for the loss rent corresponding to the time during which, and to the part of any the Premises of which Lessee shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, if the costs of restoration exceed the portion of the Premises no longer available condemnation award allocated to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease restoration costs, Lessor may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties elect to terminate this Lease as a result of any damage or destructionunless Lessee elects to pay such excess.
Appears in 1 contract
Sources: Lease Agreement
Eminent Domain. 22.121.1. In the event (a) the whole of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken 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 such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.221.2. 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, or sole sold to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s 's sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.321.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property or trade fixtures that was were purchased or installed at Tenant's expense expense, including without limitation, any crops or inventory at the Property and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.421.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.521.5. This Section 22 21 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Lease Agreement (Innovative Industrial Properties Inc)
Eminent Domain. 22.1. In the event If (a1) the whole or a material portion of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use 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 lieu of condemnation, or (3) if all or any lawful power or authority by exercise portion of the right of appropriationProperty are so taken, condemnation condemned or eminent domainconveyed and as a result thereof, or sold to prevent such takingin Landlord’s reasonable judgment, Tenant or Landlord may terminate the Premises are rendered untenantable for the Permitted Use, then this Lease effective shall cease and terminate as of the date possession is required to when title vests in such governmental or quasi-governmental authority and Base Rent, and charges on account of Taxes and Operating Expenses, shall be surrendered to abated on the date when such title vests in such governmental or quasi-governmental authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of If less than a partial taking material portion of the Premises shall be taken or condemned by a governmental or quasi governmental authority for any public or quasi-public use or purpose by (including sale under threat of such a taking), then this Lease shall continue in full force and 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 lawful power or authority by exercise of right of appropriationcase, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether Tenant shall have no claim against Landlord for any portion of the Premises occupied amount that may be awarded as damages as a result of any governmental or quasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all rights of Tenant to damages therefor are hereby assigned by Tenant was so takento Landlord. The foregoing shall not, Landlord may elect however, deprive Tenant of any separate award for moving expenses, dislocation damages or for any other award which would not reduce the award payable to terminate this Lease (except with regard to (a) items occurring prior to Landlord. As used herein, “material portion of the taking and (b) provisions of this Lease Premises” shall mean such amount that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinionreasonable judgment, of a material nature such as to make it uneconomical to continue use of would render the unappropriated portion for purposes of renting space Premises untenantable for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Office Lease Agreement (Tufin Software Technologies Ltd.)
Eminent Domain. 22.1. In the event (a) If the whole or any part of the Premises shall be taken under the power of eminent domain or (b) acquired in lieu thereof, then this Lease shall terminate as to the part so taken on the day when Tenant is required to yield possession thereof to the condemning authority, and, subject to the rights of mortgagees and further subject to the sufficiency in amount of the award or price paid on account of the taking or acquisition in lieu thereof, Landlord shall make such repairs and alterations as may be necessary in order to restore the part thereof as shall substantially interfere with not taken to useful condition; and the Basic Rent and Tenant's use and occupancy Proportionate Share shall be reduced, proportionately, as to the portion of the Premises so taken. If the amount of the Premises so taken or acquired is such as to impair substantially the usefulness of the Premises for the Permitted Use shall be taken purposes for any public or quasi-public purpose by any lawful power or authority by exercise of which 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 such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. 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, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effectsame are hereby leased, then Landlord either party shall promptly proceed to restore have the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties option to terminate this Lease as of the date when Tenant is required to yield possession. All compensation awarded or paid for such taking or acquisition shall belong to and be the property of Landlord except to the extent that any such compensation is specifically designated for the leasehold interest. Anything herein to the contrary notwithstanding, if a result substantial part of the Building and/or of Landlord's Tract is taken or acquired in the manner aforesaid, whether or not the Premises are so taken or acquired to any extent and irrespective of the extent of any damage award of proceeds to Landlord by virtue of the taking or destructionacquisition in lieu thereof, Landlord shall have the right, upon written notice to Tenant within sixty (60) days after such taking or acquisition, to terminate this Lease.
Appears in 1 contract
Eminent Domain. 22.1. In the event (a) the whole If all or any material part of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken or condemned by any competent authority for any public purpose, or quasi-public purpose by if any lawful power adjacent property or authority by exercise street shall be condemned or improved in a manner that unreasonably interferes with or prevents the use of any material part of the right Premises, the Term of appropriation, condemnation or eminent domain, or sold to prevent such taking, Tenant or Landlord may terminate this Lease effective shall, at the option of Landlord or Tenant exercised upon written notice to the other party, end as of the date possession of the actual taking, without apportionment to Tenant of any portion of the award or damages, other than any amount for Tenant’s moving expenses, business information, and the unamortized portion of Tenant’s leasehold improvements. Otherwise, this Lease shall remain in full force and effect, Base Rent shall be equitably reduced to the extent Tenant’s use and enjoyment of the Premises is required affected, without apportionment to be surrendered Tenant of any portion of the award or damages, other than any amount for Tenant’s moving costs, business interruption, and the unamortized portion of Tenant’s leasehold improvements. For purposes of this Section 19, “material” shall mean any part of the Premises which reasonably interferes or prevents that use of the Premises in substantially the same manner as the Premises was used immediately prior to such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2taking. In the event of a partial taking termination pursuant to this Section 19, current Rent, both Base and Additional, shall be apportioned to the date of such taking. If the leasehold interest vested in Tenant by this Lease shall be condemned or taken in any manner, Landlord’s and Tenant’s obligations under this Lease shall terminate as 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, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as date of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Usecondemnation or taking.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Eminent Domain. 22.1. In the event (a) If the whole of the Lease Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken or condemned in any eminent domain, condemnation, compulsory acquisition or like proceeding by any competent authority, this Lease Agreement shall terminate as of the date of such taking or condemnation. The LESSOR shall refund to the LESSEE the Security Deposit, less any amount that may be properly deducted therefrom in accordance with the terms of this Lease Agreement. If only part of the Leased Premises or the RCBC Plaza Tenancy Areas shall be taken or condemned in any eminent domain, condemnation, compulsory acquisition or like proceeding, by any competent authority for any public or quasi-public purpose by any lawful power use or authority by exercise purpose, then this Lease Agreement shall continue to be effective, subject to the proportionate reduction of the Rent due. In either of the foregoing events, the LESSEE shall not have any right or claim to any part of appropriation, condemnation the compensation or eminent domain, award granted or sold to prevent be granted to the LESSOR as consideration for such taking. However, Tenant or Landlord may terminate this Lease effective as provided that the compensation to be received by the LESSOR shall not be reduced thereby, nothing contained herein shall preclude the LESSEE from claiming, proving and receiving from the condemning authority a separate award for the value of any of the date possession is required to be surrendered to such authority, except with regard to (y) items occurring prior to LESSEE's property taken by the taking and (z) provisions of this Lease that, by their express terms, survive condemning authority which the expiration or earlier termination hereofLESSEE could have rightfully removed from the Leased Premises hereunder.
22.2. 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, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Lease Agreement (Access Worldwide Communications Inc)
Eminent Domain. 22.1. 23.1 In the event (a) the whole of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken 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 such said authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. 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, or sole sold to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, then Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, is of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space portions for the Permitted Usepurposes for which they were intended, and Tenant may elect to terminate this Lease if such taking is of material detriment to, and substantially interferes with, Tenant's use and occupancy of the Premises. In no event shall this Lease be terminated when such a partial taking does not have a material adverse effect upon Landlord or Tenant or both. Termination by either party pursuant to this section shall be effective as of the date possession is required to be surrendered to said authority.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, 23.3 If upon any taking of the nature described in this Section, Article 23 this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises remaining portion of the Premises, and all improvements and fixtures located thereon, to substantially their same condition prior to such partial taking; provided, however, Landlord's obligation hereunder shall be limited to the amount of the condemnation proceeds. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Basic Annual Rent shall be decreased abated proportionately to reflect on the loss of any portion basis of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.rental
Appears in 1 contract
Eminent Domain. 22.1. In the event (a) the whole If all of the Premises Project, Building, or (b) Premises, or such part thereof as shall substantially materially and adversely interfere with Tenant's ’s use and occupancy of the Premises for the Permitted Use thereof, shall be taken 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 either party shall have the right to terminate this Lease effective as of the date possession is required to be surrendered to such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of a partial taking addition, if such part of the Premises Project as shall, in Landlord’s sole discretion, materially affect the continuing viability of the Project as an industrial project shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation, condemnation or eminent domain, or sole sold to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect shall have the right to terminate this Lease (except with regard effective as of the date possession is required to (a) items occurring prior be surrendered to such authority. Tenant shall not assert any claim against Landlord or the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as authority for any compensation because of such taking if such taking istaking, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant and Landlord shall be entitled to receive the entire amount of any award that is specifically awarded as compensation without deduction for (a) the taking any estate or interest of Tenant's personal . If the amount of property that was installed at or the type of estate taken does not substantially interfere with the conduct of Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence’s business, any award for such taking Landlord shall be entitled to the property of Landlord.
22.4. If, upon any taking entire amount of the nature described in this Sectionaward without deduction for any estate or interest of Tenant, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior before the partial taking to such partial taking. To the extent such restoration Landlord receives condemnation proceeds (with any deficiency to be paid by Tenant as a condition to Landlord’s obligation to restore). Notwithstanding the foregoing, Tenant shall have the right to proceed against the condemning authority for any damages, including rent paid to Landlord, during the time Tenant is infeasible, as determined by Landlord in its sole and absolute discretion, deprived of the Rent shall be decreased proportionately to reflect the loss of any portion use of the Premises no longer available on account of such taking and restoration, and nothing contained in this Paragraph shall be deemed to give Landlord any interest in any award made to Tenant for the taking of personal property and fixtures belonging to Tenant. Rent during any such taking and restoration shall ▇▇▇▇▇ only to the proportionate extent of Tenant’s inability to use the Premises and only to the extent Landlord receives proceeds from any rent abatement insurance that may be carried by Landlord or business interruption insurance carried by Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in (b) In the event of taking of the Premises or any damage part thereof for temporary use, (i) this Lease shall be and remain unaffected thereby and rent shall not ▇▇▇▇▇ except to the proportionate extent of Tenant’s inability to use the Premises and only to the extent Landlord receives proceeds from any rent abatement insurance that may be carried by Landlord or destruction. Accordinglybusiness interruption insurance carried by Tenant, the parties hereby waive the provisions and (ii) Tenant shall be entitled to receive for itself such portion or portions of any Applicable Laws (award made for such use with respect to the period of the taking which is within the Term, provided that if such taking shall remain in force at the expiration or earlier termination of this Lease, Tenant shall then pay to Landlord a sum equal to the reasonable cost of performing Tenant’s obligations under Subparagraph 14(c) with respect to surrender of the Premises and any successor statutes) permitting the parties to terminate upon such payment shall be excused from such obligations. For purpose of this Lease Subparagraph 24(b), a temporary taking shall be defined as a result taking for a period of any damage 270 days or destructionless.
Appears in 1 contract
Sources: Lease Agreement (Synbiotics Corp)
Eminent Domain. 22.1. In the event (a) the whole Either party may terminate this Lease if any material part of the Premises is taken or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken condemned for any public or quasi-quasi- public purpose use under Law, by any lawful power eminent domain or authority by exercise of private purchase in lieu thereof (a “Taking”). Landlord shall also have the right of appropriation, condemnation or eminent domain, or sold to prevent such taking, Tenant or Landlord may terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building or Project. The termination shall be effective as of the effective date of any order granting possession is required to be surrendered to such to, or vesting legal title in, the condemning authority, except with regard to (y) items occurring prior to the taking and (z) provisions of . If this Lease thatis not terminated, by their express terms, survive Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the expiration or earlier termination hereof.
22.2. In the event of a partial taking square footage of the Premises Building or Premises. All compensation awarded for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking Taking shall be the property of Landlord.
22.4. IfLandlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, upon any taking however, Tenant may file a separate claim for Tenant's personal property and Tenant's reasonable relocation expenses, provided the filing of the nature described in this Section, claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease continues in effectis not terminated, then Landlord shall promptly proceed to Landlord, with reasonable diligence, will restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any remaining portion of the Premises no longer available as nearly as practicable to Tenant.
22.5the condition immediately prior to the Taking. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive Tenant agrees that the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result shall govern any Taking and shall accordingly supersede any contrary statute or rule of any damage or destructionlaw.
Appears in 1 contract
Sources: Lease (Tandem Diabetes Care Inc)
Eminent Domain. 22.1. In the event (a) the whole 12.01 If any material portion of the Premises is taken under the power of eminent domain, Tenant may, at its option and in its sole discretion, at any time after the entry of the verdict or order for such taking, terminate this Lease upon at least ninety (b90) days prior written notice to Landlord. If the entire Premises is taken under the power of eminent domain, then the Term of this Lease will cease as of the day actual possession will be taken by such part thereof as shall substantially interfere power; and the Rent will be paid up to that date with Tenant's use and occupancy a prorata refund by Landlord of any prepaid Rent.
12.02 If a material portion of the Premises for the Permitted Use shall be is taken 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 domain and Tenant does not elect to prevent such taking, Tenant or Landlord may terminate this Lease, this Lease effective will terminate only as to the parts so taken as of the date day possession is required to will be surrendered to taken by such public authority; thereafter, all of the Terms herein will continue in effect, except with regard the Basic Rent will be reduced equitably to (y) items occurring prior to reflect the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of a partial taking configuration of the Premises for any public following the taking. If this Lease is not terminated following such a condemnation or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole to prevent such taking, thenLandlord, without regard as soon as is reasonably practicable after such condemnation or taking and the determination and payment of Landlord’s award on account thereof, will expend as much as may be necessary of the net amount awarded to whether Landlord (and released by the Mortgagee) to restore (consistent, however, with zoning laws and building codes then in existence) so much of the Improvements to as nearly like its condition prior to such taking as will be economically practicable.
12.03 The whole of any award or compensation for any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the condemned, or conveyed in lieu of taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall condemnation will be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be solely the property of and payable to Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed except that portion attributable to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the Tenant’s loss of any portion of the Premises no longer available to Tenantbusiness and moving expenses.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Net Lease (A123 Systems, Inc.)
Eminent Domain. 22.1. In the event (a) If the whole or a material portion of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use 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 any lawful power or authority by exercise portion of the right of appropriationProperty are so taken, condemnation condemned or eminent domainconveyed and as a result thereof, or sold to prevent such takingin Landlord’s reasonable judgment, Tenant or Landlord may terminate the Premises cannot be used for Tenant’s Permitted Use as set forth herein, then this Lease effective shall cease and terminate as of the date possession is required to when title vests in such governmental or quasi-governmental authority and Base Rent and Additional Rent shall be surrendered to abated on the date when such title vests in such governmental or quasi-governmental authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of If less than a partial taking material portion of the Premises shall be taken or condemned by a governmental or quasi-governmental authority for any public or quasi-public use or purpose by (including sale under threat of such a taking), Base Rent and Additional Rent shall be equitably abated on the date when such title vests in such governmental or quasi-governmental authority and this Lease shall otherwise continue in full force and effect. In any lawful power or authority by exercise of right of appropriationcase, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether Tenant shall have no claim against Landlord for any portion of the Premises occupied amount that may be awarded as damages as a result of any governmental or quasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all rights of Tenant to damages therefor are hereby assigned by Tenant was so takento Landlord. The foregoing shall not, Landlord may elect however, deprive Tenant of any separate award for moving expenses, dislocation damages or for any other award which would not reduce the award payable to terminate this Lease (except with regard to (a) items occurring prior to Landlord. As used herein, “material portion of the taking and (b) provisions of this Lease Premises” shall mean such amount that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinionreasonable judgment, of a material nature such as to make it uneconomical to continue use of would render the unappropriated portion for purposes of renting space Premises untenantable for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Eminent Domain. 22.1. In the event (a) If the whole or more than twenty-five percent (25%) of the Demised Premises (or (b) such part thereof as shall substantially interfere with Tenant's use and or occupancy of the Premises for the Permitted Use 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 any lawful power or authority by exercise portion of the right of appropriationLand or Building are so taken, condemnation condemned or eminent domainconveyed and as a result thereof, in Landlord's or sold to prevent such takingTenant's reasonable judgment, Tenant or Landlord may terminate the Demised Premises cannot be used for Tenant's permitted use as set forth in this Lease, then this Lease effective shall cease and terminate as of the date possession is required to when title vests in such governmental or quasi-governmental authority and the Fixed Rent and Additional Rent shall be surrendered to abated on the date when such title vests in such governmental or quasi-governmental authority, except with regard to . If less than twenty-five percent (y25%) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of a partial taking of the Demised Premises is taken or condemned by any governmental or quasi-governmental authority for any public or quasi-public use or purpose by (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 adjusted for) on the date when title vests in such governmental or quasi-governmental authority and the Lease shall otherwise continue in full force and effect. In any lawful power or authority by exercise of right of appropriationcase, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether Tenant shall have no claim against Landlord for any portion of the Premises occupied by Tenant was so taken, Landlord amount that may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease damages as a result of any damage governmental or destructionquasi-governmental taking or condemnation (or sale under threat of such taking or condemnation); and all 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 award payable to Landlord.
Appears in 1 contract
Sources: Lease Agreement (Electronics Boutique Holdings Corp)
Eminent Domain. 22.1. 23.1 In the event (a) the whole of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken 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 such said authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. 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, or sole sold to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, then Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, is of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space portions for the Permitted Usepurposes for which they were intended, and Tenant may elect to terminate this Lease if such taking is of material detriment to, and substantially interferes with, Tenant's use and occupancy of the Premises. In no event shall this Lease be terminated when such a partial taking does not have a material adverse effect upon Landlord or Tenant or both. Termination by either party pursuant to this section shall be effective as of the date possession is required to be surrendered to said authority.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, 23.3 If upon any taking of the nature described in this Section, Article 23 this Lease continues in effect, then Landlord shall promptly proceed to restore the remaining portion of the Premises to substantially their same condition prior to such partial taking; provided, however, Landlord's obligation hereunder shall be limited to the amount of the condemnation proceeds. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Basic Annual Rent shall be decreased abated proportionately to reflect on the loss basis of any portion the rental value of the Premises no longer available as restored after such taking compared to Tenantthe rental value of the Premises prior to such taking.
22.523.4 If restoration is required pursuant to this Article, Landlord, using proceeds of the award, shall prepare final plans and specifications and working drawings for the work in compliance with all applicable laws. This Section 22 sets forth The plans and specifications and working drawings shall be subject to the terms approval of Tenant within thirty (30) days after receipt, which approval shall not be unreasonably withheld. Landlord shall submit the plans and conditions upon which this Lease may terminate specifications as soon as reasonably practicable, but in no event later than one hundred twenty (120) days after the event taking, unless due to delays beyond Landlord's control. Subject to unavoidable delays, Landlord shall commence the restoration within thirty (30) days after issuance of any damage or destruction. Accordingly, all necessary permits and approvals and shall continue the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties work diligently to terminate this Lease as a result of any damage or destructioncompletion thereafter.
Appears in 1 contract
Eminent Domain. 22.1. In the event (a) If the whole of the Premises or (b) such part the Project or so much thereof as shall substantially interfere with Tenant's to render the balance unsuitable for the continued use and occupancy operation of the Premises by Tenant (for substantially the Permitted Use same purposes as immediately prior to the taking) shall be taken for any public or quasi-public purpose by any lawful under power or authority by exercise of the right of appropriation, condemnation or eminent domain, or sold to prevent such takingis sold, Tenant transferred or Landlord may terminate conveyed in lieu thereof, this Lease effective shall automatically terminate as of the date possession is required taken by the condemning authority. No award for any partial or entire taking shall be apportioned, and Tenant hereby assigns to Landlord any award which may be surrendered to made in such authoritytaking or condemnation, except together with regard to (y) items occurring prior any and all rights of Tenant now or hereafter arising in or to the same or any part thereof; 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 for the taking of personal property and (z) provisions of this Lease that, trade fixtures belonging to Tenant and removable by their express terms, survive Tenant at the expiration of the Term hereof as provided hereunder or earlier termination hereof.
22.2for the interruption of, or damage to, Tenant’s business, or Tenant’s moving and relocation costs. In the event of a partial taking described in this Article 18, or a sale, transfer or conveyance in lieu thereof, which does not result in a termination of this Lease, (i) the rent shall be apportioned according to the ratio that the part of the Premises for any public or quasi-public purpose remaining useable by any lawful power or authority by exercise Tenant bears to the total area of right of appropriationthe Premises, condemnation, or eminent domain, or sole and (ii) Landlord shall proceed with reasonable diligence to prevent such taking, then, without regard to whether any portion restore the remaining portion(s) of the Premises occupied by Tenant was so taken, Landlord may elect and Project substantially to terminate this Lease (except with regard to (a) items occurring prior their former condition to the taking extent feasible to constitute a complete and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as tenantable Premises. Tenant hereby waives any and all rights it might otherwise have pursuant to make it uneconomical to continue use Section 1265.130 of the unappropriated portion for purposes California Code of renting space for the Permitted UseCivil Procedure.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Eminent Domain. 22.1. In the event (a) the whole A. If all or a material or significant portion of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken for any public or quasi-public purpose use under any governmental law, ordinance, or regulation or by any lawful power right of eminent domain or shall be sold to the condemning authority by exercise under threat of condemnation, or if a part of the right of appropriationPremises is so taken or sold so that the Premises cannot, condemnation or eminent domainafter restoration, be economically used for its current uses, or sold if the Premises cannot be restored within one hundred twenty (120) days after such a taking or sale to prevent such takingmake the same tenantable and economically suitable for the current use, Tenant or Landlord may terminate then this Lease effective shall terminate as of the date possession is required to of such taking or sale, and Tenant shall be surrendered to such authority, except with regard to (y) items occurring liable hereunder only for Rent and other amounts hereunder due and payable prior to the time of such taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereofsale.
22.2. In the event of B. If less than a partial taking material or significant part of the Premises shall be taken for any public or quasi-public purpose use under any governmental law, ordinance, or regulation or by any lawful power or authority by exercise of right of appropriationeminent domain or shall be sold to the condemning authority under threat of condemnation and the Premises can be economically used for the current use, condemnationthen this Lease shall continue in full force and effect, and Landlord shall, at its sole cost and expense, restore and reconstruct the Premises in all reasonable promptness, to the extent of available proceeds from such eminent domain action and, in any event, within one hundred twenty (120) days from the date of such taking or eminent domainsale, or sole subject to prevent such takingextension for Force Majeure, then, without regard to whether any make the same tenantable and economically suitable for the current use of the Premises. Rent payable for the unexpired portion of the Premises occupied by Tenant was so takenLease term shall be adjusted equitably.
C. For any condemnation that occurs during the Term, Landlord and Tenant shall each be entitled to receive such separate awards and portions of lump-sum awards as may elect be allocated to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions their respective interests in such condemnation proceedings. The termination of this Lease that, by their express terms, survive shall not affect the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use rights of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the respective parties to terminate this Lease as a result of any damage or destructionthose awards.
Appears in 1 contract
Eminent Domain. 22.1. In If the event (a) the whole of the Premises Building, or (b) such a substantial part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use 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 purpose use or purpose, the Term of this Lease shall end upon and not before the date of the taking of possession by the condemning authority and without apportionment of the award. Tenant hereby assigns to Landlord Tenant’s interest, if any, in such award and specifically agrees that any lawful power or authority by exercise such 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 appropriation, condemnation or eminent domain, or sold the condemning authority to prevent proceed with such taking, Tenant or Landlord may terminate this Lease effective . Rent shall be apportioned as of the date possession of such termination. If any part of the Building not constituting a substantial part thereof, shall be so taken or condemned (or conveyed under threat of such taking or condemnation), or if the grade of any street adjacent to the Building is required changed by any competent authority and such taking or change of grade makes it necessary or desirable to be surrendered substantially remodel or restore the Building, Landlord shall have the right to such authority, except with regard to cancel this Lease upon not less than ninety (y90) items occurring days’ notice prior to the taking 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 (z) provisions Tenant shall have no right to share in any condemnation award or in any judgment for damages or in any proceeds of this Lease thatany sale made under any threat of condemnation or taking, by their express terms, survive the expiration or earlier termination hereof.
22.2. 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 appropriationsuch condemnation proceedings, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled have the right to any separately pursue its own award that is specifically awarded as compensation for (a) the taking of any of Tenant's ’s personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretionproperty, the Rent shall be decreased proportionately to reflect the loss interruption of any portion of the Premises no longer available to Tenant’s business and relocation expenses.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Eminent Domain. 22.1. In the event (a) case of the whole of the Premises Premises, or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use thereof, shall be taken 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 either party shall have the right to terminate this Lease lease effective as of the date possession is required to be surrendered to said authority. Notice of such authority, except with regard to termination must be given thirty (y30) items occurring days prior to the date possession is required to be surrendered. Tenant shall not assert any claim against Owner or the taking authority for any compensation because of such taking, and (z) provisions Owner shall be entitled to receive the entire amount of this Lease that, by their express terms, survive the expiration any award without deduction for any estate or earlier termination hereof.
22.2interest of Tenant. In the event the amount of a partial taking property or the type of estate taken shall not substantially interfere with the Premises for any public or quasi-public purpose by any lawful power or authority by exercise conduct of right of appropriationTenant's business, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant Owner shall be entitled to the entire amount of the award without deduction for any award that is specifically awarded as compensation for (a) the taking estate or interest of Tenant's personal property that was installed , and Landlord at Tenant's expense and (b) the costs of Tenant moving to a new locationhis option may terminate this Lease. Except as set forth in the previous sentenceIf Landlord does not so elect, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition as prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent a proportionate allowance shall be decreased proportionately made to reflect Tenant for the loss of any portion rent corresponding to the time during which, and to the part of the Premises no longer available of which, Tenant shall be so deprived on account of such taking and restoration. Nothing contained in this paragraph shall be deemed to give Landlord any interest in any award made to Tenant for the taking of personal property and fixtures belonging to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Eminent Domain. 22.1. In the event (a) the whole of the Premises Premises, Building, Property or (b) Common Areas, or such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use occupation thereof, shall be taken 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 is sold in lieu of or to prevent such taking, Tenant or Landlord may either party shall have the right to terminate this Lease effective as of the date possession is required to be surrendered to such said authority. Except as provided below, except with regard to (y) items occurring prior to Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, and (z) provisions Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant granted in this Lease that, by their express terms, survive Lease. Nothing contained in this Section 12.01 shall be deemed to give Landlord any interest in any separate award made to Tenant for the expiration taking of personal property and fixtures belonging to Tenant or earlier termination hereof.
22.2for Tenant's moving expenses. In the event the amount of a partial taking property or the type of estate taken shall not substantially interfere with the Premises for any public or quasi-public purpose by any lawful power or authority by exercise conduct of right of appropriation, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so takenTenant's business, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to the entire amount of the award without deduction for any award that is specifically awarded as compensation for (a) the taking estate or interest of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises affected areas to substantially their same condition prior to such partial taking. To taking less the extent portion thereof lost in such restoration is infeasiblecondemnation, as determined by Landlord in its sole and absolute discretion, the Base Rent shall be decreased proportionately to reflect reduced by the loss of any time during which, and the portion of the Premises no longer available which, Tenant shall have been unable to Tenantuse in its business on account of said taking and restoration.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Lease Agreement (Microvision Inc)
Eminent Domain. 22.1. In If the event (a) the whole of the Demised Premises or (b) such a substantial part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken for any public in eminent domain or quasi-public purpose by any lawful power or authority by exercise conveyed under threat of the right of appropriationcondemnation proceedings, condemnation or eminent domain, or sold to prevent such taking, Tenant or Landlord then ▇▇▇▇▇▇ (but not Lessee) may terminate this Lease effective as of by giving ▇▇▇▇▇▇ written notice thereof within thirty (30) days after the date possession that the subject taking becomes final, and this Lease shall be deemed null and void when such notice is required given, with the parties hereto being released from all further obligations and duties hereunder and with the rentals being apportioned to be surrendered to the date that said taking or conveyance becomes final. If no such authoritynotice of termination is given for such a substantial taking, then this Lease shall remain in full force and effect in accordance with its stated terms, except with regard to (y) items occurring prior to that the taking and (z) provisions of this Lease that, by their express terms, survive rentals due hereunder shall be abated in the expiration or earlier termination hereof.
22.2. In proportion that 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, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied Demised Premises, if any, which is rendered effectively unusable by Tenant was so takenthe taking, Landlord may elect bears to terminate the totality of the Demised Premises. If the taking is insubstantial, then this Lease (except shall not terminate and shall remain in full force and effect in accordance with regard its stated terms with no abatement of rentals. Lessee hereby agrees that reducing or increasing the width or otherwise changing any sidewalk, street or alley adjacent to (a) items occurring prior or around the Demised Premises, changing parking regulations, or prohibiting parking, or changing bus stops, or anything else which in any manner affects pedestrian or vehicular traffic, shall be deemed not to constitute a substantial taking, and the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, substantiality of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3taking shall in any event be determined by Lessor in its good faith discretion. Tenant In no event shall Lessee be entitled to any award that is or consideration paid in connection with such a taking or conveyance except for any moving expenses expressly and specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving granted to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of LandlordLessee.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Lease Agreement
Eminent Domain. 22.1. In the event (a) the whole If any part of the Premises or Premises, the Building, and/or the Land (b) such part thereof as shall substantially interfere with Tenant's use and occupancy not resulting in a total taking of the Premises for Premises, thereby causing a termination of this Lease) is taken under the Permitted Use shall be taken for power of eminent domain, or similar authority or power, or sold under imminent threat thereof, to any public or quasi-public purpose by any lawful power governmental authority or authority by exercise entity, this Lease shall terminate as to the part of the right of appropriationPremises so taken or sold, condemnation or eminent domain, or sold to prevent such taking, Tenant or Landlord may terminate this Lease effective as of the date taking, or the date that delivery of possession is required to be surrendered to such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease thatrequired, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of a partial taking of the Premises for any such public or quasi-public purpose by any lawful power governmental authority or authority by exercise entity. The Rent for the remainder of right of appropriation, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion the term under this Lease shall be reduced in the proportion that the Tenant’s total square footage of the Premises occupied is reduced by Tenant was so takenthe taking. Further, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to recover and keep for itself from the public or quasi-governmental authority or entity any award that is specifically awarded amount(s) necessary to compensate the Tenant for any and all damages, loses, and for any other reason attributable as compensation for (a) the taking a result of Tenant's personal property that was installed at Tenant's expense and such taking.
(b) the costs of Tenant moving to If a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any total taking of the nature described Premises, the Building, or the Land occurs, or if a partial taking or the sale of the Building, or the Land occurs, and it: (i) results in this Section, this Lease continues in effect, then Landlord shall promptly proceed an inability of the Tenant to restore use the Premises to substantially their same condition prior to such partial taking. To for the extent such restoration is infeasibleTenant’s intended purpose, as determined by Landlord in its sole the Tenant; or (ii) renders the Building unviable or useless to the Tenant, this Lease shall terminate, with such termination being made effective thirty (30) days after the Tenant receives notice of such taking, or when the taking occurs, whichever is sooner.
(c) All condemnation awards and absolute discretion, the Rent similar payments shall be decreased proportionately paid and belong to reflect the Landlord, except any amounts otherwise described above in this Lease, in addition to any amounts awarded or paid specifically for Tenant’s trade fixtures, loss of business, relocation costs, and other benefits that the Tenant ADSLLP-00086836.8 is otherwise entitled to receive under the law (provided ▇▇▇▇▇▇’s award does not reduce Landlord’s award or attribute any portion of value to the Premises no longer available remaining leasehold interest). Nothing contained herein shall prevent or diminish the Tenant’s right to Tenantdeal on its own behalf with the condemning authority.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Lease Agreement
Eminent Domain. 22.1. In If, prior to the event Closing Date, any Seller receives notice that a material portion of one of its Properties (aor access or other material rights in connection therewith) as would, in Purchaser’s reasonable judgment, materially adversely affect access to and from such Property, the whole operation of the Premises such Property or (b) uses or value of such part thereof as shall substantially interfere with Tenant's use and occupancy Property is, or has been threatened in writing by a governmental authority of the Premises for the Permitted Use shall competent jurisdiction, to be taken for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, such Seller shall promptly notify Purchaser, and at the election of Purchaser this Agreement shall upon the giving of Notice of such event or sold to prevent such taking, Tenant or Landlord may terminate this Lease effective as of the date possession is required condemning authorities’ intention so to be surrendered take such Property, terminate with respect only to the impacted Property, in which event as to such authorityimpacted Property the parties shall have no further rights or obligations hereunder, except those matters specifically surviving termination or Closing, but the Closing shall proceed with regard to (y) items occurring prior respect to the taking and remaining Properties (z) provisions of this Lease that, with the Purchase Price reduced by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of a partial taking Allocated Purchase Price 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, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may impacted Property). If Purchaser does not elect to terminate this Lease (except with regard to (a) items occurring Agreement prior to the taking and (b) provisions of this Lease thatClosing Date, by their express terms, survive on the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use Closing Date all of the unappropriated portion for purposes proceeds of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking or payment made or to be made by reason of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be assigned by such Seller to Purchaser, and any money theretofore received by such Seller in connection with such taking shall be paid over to Purchaser, whereupon Purchaser shall pay the property Purchase Price without abatement by reason of Landlord.
22.4such taking. IfSuch Seller shall not settle, upon agree to, or accept any award or payment in connection with a taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion less than all of the Premises no longer available to TenantProperty without obtaining Purchaser’s prior written consent in each case, which consent shall not be unreasonably withheld or delayed.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Purchase and Sale Agreement (First Potomac Realty Trust)
Eminent Domain. 22.123.1. In the event (a) the whole of the Premises Demised Premises, or (b) such part thereof as shall substantially interfere with the Tenant's use and occupancy of the Premises for the Permitted Use thereof, shall be taken 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 such said authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.223.2. In the event of a partial taking of the Premises Building or of drives, walkways, and parking areas serving the Building for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole sold to prevent such taking, then, then without regard as to whether any portion of the Demised Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in the sole opinion of Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Useoffice rentals or laboratory space.
22.323.3. Tenant shall be entitled to any award that which is specifically awarded as compensation for (a) the taking of Tenant's personal property that property, which was installed at Tenant's expense and (b) the for costs of Tenant moving to a new location. Except as before set forth in the previous sentenceforth, any award for such taking shall be the property of belong to Landlord.
22.423.4. If, upon any taking of the nature described in this SectionArticle 23, this Lease continues in effect, then the Landlord shall promptly proceed to restore the Demised Premises and the Building to substantially their same condition prior to such partial taking. To the extent such restoration is infeasiblefeasible, as determined by Landlord in its sole and absolute reasonable discretion, the Rent shall be decreased abated proportionately based upon the extent to reflect the loss of any portion which Tenant's use of the Demised Premises no longer available has decreased on the basis of the percentage of the rental value of the Demised Premises after such taking and the rental value of the Demised Premises prior to Tenantsuch taking.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Eminent Domain. 22.1. In Tenant agrees that if the event (a) the whole of the Premises Leased Premises, or (b) such any part thereof as shall substantially interfere with Tenant's use and occupancy of (including the Premises for exclusive parking spaces or access to the Permitted Use parking area), shall be taken or condemned for any public or quasi-public use or purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or sold to prevent such takingcompetent authority, Tenant shall have no claim against Landlord and shall not have any claim or Landlord may terminate this Lease effective as of the date possession is required right to be surrendered to such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. 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, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord amount that may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage damages or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease paid as a result of any damage such condemnation, whether such amount be awarded for diminution in value to the leasehold or destructionto the fee. It is agreed that the full amount of such award, if any, made by the taking authorities shall be paid to and retained by Landlord, free of any claim by Tenant to any portion thereof, and all rights of Tenant to damages therefor, if any, are hereby assigned by Tenant to Landlord. In the event that all or substantially all of the Leased Premises shall be taken or condemned by any governmental authority, then the term of this Lease shall cease and terminate from the date on which the Tenant is required, by such taking authority, to surrender possession of said Leased Premises and the Tenant shall not have nor make any claim against Landlord for the value of any unexpired term of this Lease. In the event that a portion of the Leased Premises shall be taken or condemned by any governmental authority, then this Lease shall continue in full force and effect, and rent shall abate in an amount which bears the same ratio to the annual bas▇ ▇▇▇t as the value of the floor space taken bears to the value of the total floor space of the Leased Premises. All rentals and other sums payable by Tenant hereunder shall be adjusted to the date on which Tenant is required, by the taking authority, to surrender possession of the Leased Premises or portion of the Leased Premises so taken.
Appears in 1 contract
Eminent Domain. 22.1. In If the event (a) Premises, the whole of Building, or such a substantial part thereof, which in Landlord's reasonable judgment renders the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises remainder unfit for the Permitted Use intended uses, shall be taken by any competent authority under the power of the eminent domain or be acquired for any public or quasi-public purpose by any lawful power uses or authority by exercise purpose, the Lease Term shall cease and terminate upon the effective date 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 such authority, except with regard to (y) items occurring prior to the taking and (z) provisions Tenant shall have no claim against Landlord for the value of this any unexpired Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2Term. In the event of a partial taking If any part of the Premises Building is taken by any competent authority under the power of eminent domain or is acquired for any public or quasi-public purpose by any lawful power uses or authority by exercise of right of appropriation, condemnationpurpose, or eminent domain, if the configuration or sole grade of any street or alley or other improvement or structure adjacent to prevent the Building is changed and such taking, thenor acquisition, without regard or change of grade or configuration makes it necessary or desirable in Landlord's judgment to whether any portion of remodel the Premises occupied by Tenant was so takenBuilding to conform to the taking, acquisition, or changed grade or configuration, Landlord may elect shall have the right to terminate this Lease after having given written notice of termination to Tenant not less than ninety (except with regard to (a90) items occurring days prior to the taking and (b) provisions date of this Lease thattermination designated in the notice. In either of said events, by their express terms, survive Rent at the expiration or earlier termination hereof) then current rate shall be apportioned as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use the date of the unappropriated portion for purposes of renting space termination. No money or other consideration shall be payable by Landlord to Tenant for the Permitted Use.
22.3. right of termination and Tenant shall be have no right to share in the condemnation award or in any judgment for damages caused by the taking or the change of grade. However, nothing in this paragraph shall preclude Tenant from independently seeking an award from the authority for any damages or relocation benefits which Tenant is entitled to any under governing law, provided that such separate award that is specifically awarded as compensation for (a) shall not reduce the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of or judgment recoverable by Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Eminent Domain. 22.1. In the event (a) If the whole or more than twenty percent (20%) of the Demised Premises (or (b) such part thereof as shall substantially interfere with Tenant's use and or occupancy of the Premises for the Permitted Use 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 Landlord elects to convey title to the condemnor by a deed in lieu of condemnation, or if all or any lawful power or authority by exercise portion of the right of appropriationLand or Building are so taken, condemnation condemned or eminent domainconveyed and as a result thereof, in Landlord's or sold to prevent such takingTenant's judgment, Tenant or Landlord may terminate the Demised Premises cannot be used for Tenant's permitted use as set forth herein, then this Lease effective shall cease and terminate as of the date possession is required to when title vests in such governmental or quasi-governmental authority and the Fixed Rent and Additional Rent shall be surrendered to abated on the date when such title vests in such governmental or quasi-governmental authority, except with regard to . If less than twenty percent (y20%) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of a partial taking of the Demised Premises is taken or condemned by any governmental or quasi-governmental authority for any public or quasi-public use or purpose by (including sale under threat of such a taking), the Fixed Rent and Tenant's proportionate share shall be equitably adjusted (on the 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 Lease shall otherwise continue in full force and effect. In any lawful power or authority by exercise of right of appropriationcase, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether Tenant shall have no claim against Landlord for any portion of the Premises occupied by Tenant was so taken, Landlord amount that may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease damages as a result of any damage governmental or destructionquasi-governmental taking or condemnation (or sale under threat of such taking or condemnation); and all 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 award payable to Landlord.
Appears in 1 contract
Eminent Domain. 22.1. In If the event (a) the whole Premises, or a substantial part thereof or a substantial part of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use Property, 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 purpose use or purpose, the term of this Lease shall end upon and not before the date of the taking of possession by the condemning authority and without apportionment of the award. Tenant hereby assigns to Landlord ▇▇▇▇▇▇'s interest, if any, in such award and specifically agrees that any lawful power or authority by exercise such 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 appropriation, condemnation or eminent domain, or sold the condemning authority to prevent proceed with such taking, Tenant or Landlord may terminate this Lease effective . Current rent shall be apportioned as of the date possession of such termination. If any part of the Property other than the Premises or not constituting a substantial part of the Premises, shall be so taken or condemned (or conveyed under threat of such taking or condemnation), or if the grade of any street adjacent to the Premises is required changed by any competent authority and such taking or change of grade makes it necessary or desirable to be surrendered substantially remodel or restore the Premises, Landlord shall have the right to such authority, except with regard to cancel this Lease upon not less than ninety (y90) items occurring days notice prior to the taking and (z) provisions date of this Lease that, cancellation designated in the notice. No money or other consideration shall be payable by their express terms, survive Landlord to Tenant for the expiration or earlier termination hereof.
22.2. 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 appropriationcancellation, condemnation, and Tenant shall have no right to share in any condemnation award or eminent domain, in any judgment for damages or sole to prevent such in any proceeds of any sale made under any threat of condemnation or taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled have the right to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any separately pursue its own award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate relocation expenses in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destructionsuch condemnation proceedings.
Appears in 1 contract
Eminent Domain. 22.1. In If the event (a) the whole Building, or a substantial part thereof or a substantial part of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use PREMISES, 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 purpose use or purpose, the term of this Lease shall end upon and not before the date of the taking of possession by the condemning authority and without apportionment of the award. TENANT hereby assigns to LANDLORD TENANT'S interest, if any, in such award and specifically agrees that any lawful power or authority by exercise such 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 appropriation, condemnation or eminent domain, or sold condemning authority to prevent proceed with such taking, Tenant or Landlord may terminate this Lease effective . Current rent shall be apportioned as of the date possession of such termination. If any part of the Building other than the PREMISES or not constituting a substantial part of the PREMISES, shall be so taken or condemned (or conveyed under threat of such taking or condemnation), or if the grade of any street adjacent to the Building is required changed by any competent authority and such taking or change of grade makes it necessary or desirable to be surrendered substantially remodel or restore the Building, LANDLORD shall have the right to such authority, except with regard to cancel this Lease upon not less than ninety (y90) items occurring days notice prior to the taking and (z) provisions date of this Lease that, cancellation designated in the notice. No money or other consideration shall be payable by their express terms, survive LANDLORD to TENANT for the expiration or earlier termination hereof.
22.2. 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 appropriationcancellation, condemnation, and TENANT shall have no right to share in any condemnation award or eminent domain, in any judgment for damages or sole in any proceeds of any sale made under any threat of condemnation or taking. TENANT shall have the right to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any separately pursue its own award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole relocation expenses and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate trade fixtures in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destructionsuch condemnation proceedings.
Appears in 1 contract
Sources: Sublease (Clark/Bardes Holdings Inc)
Eminent Domain. 22.1. In If the event whole, or any substantial (aas reasonably determined by Landlord) the whole portion, of the Premises Property is taken or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken condemned for any public use under any Law or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or sold to by private purchase in lieu thereof, and such taking would prevent such takingor materially interfere with the Permitted Use of the Premises, Tenant or Landlord may terminate this Lease shall terminate effective as of when the date possession is required to be surrendered to such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of a partial physical taking of the said Premises for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriationoccurs. Additionally, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether if any portion of the Premises occupied or parking is taken or condemned for any public use under any Law or by right of eminent domain, or by private purchase in lieu thereof, and such taking would materially interfere with the Permitted Use of the Premises, in Tenant’s reasonable determination, or reduce the number of parking spaces below the applicable number of spaces required for the Property by applicable Law, then Tenant was so taken, Landlord may shall have the right to terminate this Lease by giving written notice to Landlord. If Tenant does not elect to terminate this Lease or if less than a substantial portion of the Property is so taken or condemned, or if the taking or condemnation is temporary (except with regard to (a) items occurring prior regardless of the portion of the Property affected), this Lease shall not terminate, but the Rent payable hereunder shall be proportionally abated to the taking and (b) provisions extent of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as any actual loss of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for Premises by Tenant and Landlord shall restore the Permitted Use.
22.3Premises and Property as nearly as possible to the condition existing immediately prior to such taking. Tenant Landlord shall be entitled to any award that is specifically awarded as compensation and all payment, income, rent or award, or any interest therein whatsoever, which may be paid or made in connection with such a taking or conveyance, and Tenant shall have no claim against Landlord for (a) the taking value of Tenant's personal property that was installed at Tenant's expense and (b) any unexpired portion of this Lease. Notwithstanding the costs of Tenant moving to a new location. Except as set forth in the previous sentenceforegoing, any award compensation specifically and independently awarded to Tenant for such taking loss of business or goodwill, relocation or moving expenses, or for its personal property, shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Eminent Domain. 22.122.01. In the event (a) If the whole or a substantial part of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use Building shall be lawfully taken by condemnation or in any other manner for any public or quasi-public purpose by any lawful power or authority by exercise use of the right of appropriationpurpose, condemnation or eminent domain, or sold to prevent such taking, Tenant or Landlord may terminate this Lease effective and the term and estate hereby granted shall forthwith terminate as of the date possession of vesting of title on such taking (which date is required herein after also referred to as the “date of the taking”), and the rents shall be surrendered to prorated and adjusted as of such authoritydate.
22.02. If any part of the Building shall be so taken, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, shall be unaffected by their express terms, survive the expiration or earlier termination hereof.
22.2. 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, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by except that Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to in the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, event of a material nature such as to make it uneconomical partial taking, if the area of the Demised Premises shall not be reasonably sufficient for Tenant to continue use feasible operation of the unappropriated portion for purposes of renting space for the Permitted Use.its business. 4846-0294-9028.v11
22.322.03. Tenant Landlord shall be entitled to receive the entire award in any proceeding with respect to any taking provided for in this Article without deduction therefrom for any estate vested in Tenant by this Lease, and Tenant shall receive no part of such award. Tenant hereby expressly assigns to Landlord all of its right, title, and interest in or to every such award. The foregoing shall not, however, deprive, limit, nor restrict Tenant of, or from, any separate award that is specifically awarded as compensation for (a) moving expenses, business dislocation damages or for any other award which would not reduce the taking of Tenant's personal property that was installed at Tenant's expense and (b) award payable to Landlord. Upon the costs of Tenant moving date the right to a new location. Except as set forth possession shall vest in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Sectioncondemning authority, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior cease and terminate with Rent adjusted to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenantdate.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Lease Agreement (UroGen Pharma Ltd.)
Eminent Domain. 22.111.2.1. In the event (a) the whole of the Premises any condemnation or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises taking in any manner for the Permitted Use shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise use, which shall be deemed to include a voluntary conveyance in lieu of a taking (a "taking") of the right whole of appropriationthe Property, condemnation this Lease shall forthwith terminate as of the date when Tenant is required to vacate the Premises.
11.2.2. Unless this Lease is terminated as provided herein, the Landlord, at its own expense, and proceeding with due diligence and all reasonable dispatch, but subject to delays beyond the reasonable control of Landlord, shall restore the remaining portion of the Premises (but, not any alterations or eminent domainimprovements made by or for Tenant, or sold any trade fixtures, equipment or personal property of Tenant or the Modular Furniture) and the necessary portions of the Property as nearly as practicable to prevent the same condition as it was prior to such taking, subject to zoning and building laws then in effect. Notwithstanding the foregoing, Landlord's obligation to restore the remaining portion of the Premises shall be limited to the extent of the condemnation proceeds (net of all reasonable costs and expenses incurred in connection with same) received by Landlord on account thereof. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in restoring the Premises.
11.2.3. In the event that only a part of the Premises or the Property shall be taken, then, if such taking is a substantial taking (as hereinafter defined), either Landlord or Tenant may by delivery of notice in writing to the other within 60 days following the date on which Landlord's title has been divested by such authority, terminate this Lease Lease, effective as of the date possession when Tenant is required to be surrendered to such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of a partial taking of the Premises for vacate any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.portion
Appears in 1 contract
Sources: Lease (Soundbite Communications Inc)
Eminent Domain. 22.1. In the event (a) the whole If all or more than 33-1/3% of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy all or a material portion of the Premises for the Permitted Use Common Areas shall be taken for or appropriated by any public or quasi-public purpose by any lawful authority under the power or authority by exercise of the right of appropriation, condemnation or eminent domain, or sold transfer in lieu thereof, either party hereto shall have the right, at its option, to prevent such taking, Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to such authority, except with regard to (y) items occurring prior to title vests in the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2condemning entity. 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, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as award, or other payment made in connection with such condemnation. Tenant, however, shall have the right to pursue a claim in any condemnation proceeding against the condemning authority (but not against Landlord) for compensation for any resulting damages to Tenant's business, trade fixtures and personal property (a) the taking but not for any diminution or loss of Tenant's personal property leasehold estate). If a part of the Premises shall be so taken or appropriated and this Lease is not thereafter terminated, the rental thereafter to be paid shall be reduced in the proportion that was installed at the area of the Premises so taken bears to the entire Premises. Notwithstanding the foregoing, however, before Tenant may terminate this Lease by reason of a taking or appropriation as described above, such taking or appropriation shall be of such an extent and nature as to substantially handicap, impede or impair Tenant's expense and use of the Premises for a period in excess of ninety (b90) days (assuming Landlord shall promptly commence any repairs necessary to restore the costs of Tenant moving remaining Premises to a new locationcomplete architectural unit). Except as set forth in If any material part of the previous sentence, any award for such taking Building other than the Premises shall be so taken or appropriated, Landlord shall have the property of Landlord.
22.4right, at its option, to terminate this Lease. If, upon Landlord shall be entitled to the entire condemnation award or payment attributable to any such taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed Building or to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss any taking of any portion of the Premises no longer available to TenantCommon Areas.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Assignment and Assumption of Leases (Meadow Valley Corp)
Eminent Domain. 22.1Tenant agrees that if the Building, or so much of the Premises so as impair Tenant’s use of the Premises, shall be taken or condemned for public or quasi-public use or purpose by any competent authority, Tenant shall have no claim against the Landlord and shall not have any claim or right to any portion of the amount that may be awarded as damages or paid as a result of any such condemnation; and all rights of the Tenant to damages therefore, if any, are hereby assigned by the Tenant to the Landlord. In Upon any condemnation or taking, affecting the event (a) whole or any substantial part of the Premises as provided above, the Term of this Lease shall cease and terminate unless the parties otherwise agree in writing. The Tenant shall have no claim for the value of any unexpected Term of this Lease. If less than the whole of the Premises Building or (b) such substantial part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be is taken or condemned by any governmental authority for any public or quasi-public purpose by any lawful power use or purpose, and in the event neither Landlord not Tenant shall desire to terminate this Lease, then and in such event the Basic Rent shall be equitably adjusted on the date when title vests in such governmental authority by exercise and the Lease shall otherwise continue in full force and effect. For purposes of this Section, a substained part of the right of appropriation, condemnation Building shall be considered to have been taken if twenty five percent (25%) or eminent domain, or sold to prevent such taking, Tenant or Landlord may terminate this Lease effective as of the date possession more is required to be surrendered to such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2taken. 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, or sole to prevent such taking, then, without regard to whether any A substained portion of the Premises occupied by Tenant was so shall be deemed taken if more than twenty five percent (25%) of the areas of available for parking are taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior . Notwithstanding anything to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3contrary contained herein. Tenant shall be entitled to any award that is specifically awarded as compensation pursue a separate claim for (a) the taking of value or Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving ’s furnishings, equipment, movable trade fixtures which are not deemed pursuant to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, to be Landlord’s property and then Landlord shall promptly proceed only to restore the Premises to substantially their same condition prior to such partial taking. To the extent paid for by Tenant and provided such restoration is infeasible, as determined by claim shall in no manner diminish the award or other compensation to which Landlord in its sole and absolute discretion, the Rent shall would otherwise be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenantentitled.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Eminent Domain. 22.1. In the event (a) the whole of If the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be lawfully taken or condemned (or conveyed under threat of such taking or condemnation) for any public or quasi-public purpose by any lawful power use or authority by exercise purpose, except for temporary use, the Term of this Lease shall end upon, and not before, the date of the right taking of appropriationpossession by the condemning authority, condemnation or eminent domainand without apportionment of the award. Tenant hereby assigns to Landlord, or sold to prevent Tenant's interest, if any, in such taking, Tenant or Landlord may terminate this Lease effective award. Current Rent shall be apportioned as of the date of such termination. If any part of the Premises is taken, Landlord or Tenant shall each have the option by giving the other party notice, to cancel this Lease and each party's obligations hereunder within two (2) months of the taking of possession is required to be surrendered to such by the condemning authority, except with regard that if less than twenty (20%) of the Premises is taken and Tenant is able to (y) items occurring prior operate its business in the Premises, to be determined in Tenant's reasonable discretion, Landlord's right to cancel this Lease shall be null and void. No money or other consideration shall be payable by Landlord or Tenant to the taking other for the right of cancellation, and (z) provisions Tenant shall have no right to share in any condemnation award, or in any judgment for damages, or in any proceeds of this Lease that, by their express terms, survive the expiration any sale made under any threat of condemnation or earlier termination hereof.
22.2taking. 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 appropriationthis Lease is not canceled, condemnation, or eminent domain, or sole to prevent such taking, thenthis Lease shall continue in full force and effect, without regard to whether any portion abatement or reduction of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior Rent due hereunder. Anything to the taking and (b) provisions of this Lease thatcontrary contained herein notwithstanding, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to receive and retain any award that is specifically awarded as compensation made to Tenant for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion its leasehold interest and removal and relocation of its personal property, provided the Premises no longer available same does not diminish the award specifically made to TenantLandlord.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Eminent Domain. 22.1. 23.1 In the event (a) the whole of the Premises Premises, or (b) such part thereof as shall substantially interfere with the Tenant's ’s use and occupancy of the Premises for the Permitted Use thereof, shall be taken 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 such said authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. 23.2 In the event of a partial taking of the Premises, or of drives, walkways or parking areas serving 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, or sole sold to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Useoffice or laboratory space.
22.3. 23.3 Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's ’s personal property that was installed at Tenant's ’s expense and (b) the costs of Tenant moving to a new locationlocation and (c) lost profits, goodwill, and leasehold improvements paid for by Tenant. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. 23.4 If, upon any taking of the nature described in this SectionSection 23, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasiblefeasible, as determined by Landlord in its sole and absolute reasonable discretion, the Rent shall be decreased proportionately to reflect by a number, the loss numerator of any portion which is the rental value of the Premises no longer available prior to Tenantsuch taking, and the denominator of which is the value of the Premises after such taking.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Lease (Zosano Pharma Corp)
Eminent Domain. 22.1. In the event (a) If the whole or a material portion of the Premises (or (b) such part thereof as shall substantially interfere with Tenant's use and or occupancy of the Premises for the Permitted Use 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 any lawful power or authority by exercise portion of the right of appropriationLand or Building are so taken, condemnation condemned or eminent domainconveyed and as a result thereof, or sold to prevent such takingin Landlord’s reasonable judgment, Tenant or Landlord may terminate the Premises cannot be used for Tenant’s permitted use as set forth herein, then this Lease effective shall cease and terminate as of the date possession is required to when title vests in such governmental or quasi-governmental authority and Fixed Rent and Additional Rent shall be surrendered to abated on the date when such title vests in such governmental or quasi-governmental authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of If less than a partial taking 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 by (including sale under threat of such a taking), Fixed Rent and Tenant’s Proportionate Share shall be equitably adjusted (on the 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 this Lease shall otherwise continue in full force and effect. In any lawful power or authority by exercise of right of appropriationcase, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether Tenant shall have no claim against Landlord for any portion of the Premises occupied by Tenant was so taken, Landlord amount that may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease damages as a result of any damage governmental or destructionquasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all 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 award payable to Landlord.
Appears in 1 contract
Sources: Lease Agreement (Repligen Corp)
Eminent Domain. 22.1. In the event (a) If the whole or any part of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken for any public or quasi-public purpose use by any lawful a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority by exercise in lieu of the right of appropriation, condemnation or eminent domain, or sold to prevent such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant or Landlord may for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease effective as of the date possession Tenant is required to be surrendered to such authority, except with regard to (y) items occurring prior to surrender possession of the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2Premises. In the event of If a partial taking part of the Premises shall be taken or conveyed but the remaining part is tenantable and adequate for any public Tenant’s use, then this Lease shall be terminated as to the part taken or quasi-public purpose by any lawful power conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole conveyed tenantable; and the rent shall be reduced in proportion to prevent such taking, then, without regard to whether any portion the part of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration taken or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3conveyed. Tenant shall be entitled to any award that is specifically All compensation awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking or conveyance shall be the property of 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 in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord.
22.4. If, upon any taking such compensation as may be awarded to Tenant on account of the nature described in this Sectioninterruption of Tenant’s business, this Lease continues in effect, then Landlord shall promptly proceed moving and relocation expenses and depreciation to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss removal of any portion of the Premises no longer available to Tenant’s trade fixtures and personal property.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Lease Agreement (Vital Images Inc)
Eminent Domain. 22.1In the event that the Premises or Common Areas or any -------------- part thereof shall at any time after the execution of this Lease be taken for public or quasi-public use or condemned under eminent domain, Lessee shall not be entitled to claim, or have paid to the Lessee any compensation or damages whatsoever for or on account of any loss, injury, damage or taking of any right, interest, or estate of the Lessee in or to said property, in which event, Lessee, upon request of Lessor so to do, will execute any and all releases or other documents as shall be required by such public or quasi-public authority. However, nothing herein contained shall be construed to prevent the Lessee from asserting against the condemnor any separate and independent claims for damages occurring by reason of said condemnation including, but not limited to, personal property, business, goodwill, cost of removing equipment, moving expense, or loss of future profits. In the event case of any such taking or condemnation referred to in this paragraph, then if and when there is an actual taking of physical possession of the Premises or of any part thereof in excess of twenty-five percent (a25%) of the total floor area thereof, or in any amount that would substantially prevent the conduct of Lessee's business in a normal manner, then either the Lessor or the Lessee may cancel and terminate this Lease as to the whole of the Premises by giving notice to the other party within ten (10) days after such an actual taking of physical possession. No such taking of all or (b) such any part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use Common Areas shall be taken for give rise to any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation termination or eminent domain, or sold to prevent rent abatement for such taking, Tenant or Landlord may terminate unless reasonable contiguous parking is made available by Lessor. If this Lease effective is not terminated as above provided for following any of said actual takings, then the date possession is required Lessor shall repair the building at its own expense; provided, however, that Lessor's obligation to repair shall be surrendered to such authority, except with regard to (y) items occurring prior limited to the taking and (z) provisions amount of this Lease that, award actually received by their express terms, survive the expiration or earlier termination hereof.
22.2it for such taking. 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 appropriationPremises, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion a proportionate allowance shall be made in the minimum rental based on the proportion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior remaining as compared to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Useoriginal Premises.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Lease Agreement (Ourpets Co)
Eminent Domain. 22.1. In Section 1: If any portion of the event (a) the whole rentable area of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken or condemned by any governmental or quasi-governmental authority for any public or quasi-public use or purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or sold to prevent under threat of such takinga taking or condemnation (collectively, Tenant or Landlord may terminate “condemned”), then this Lease effective shall terminate on the date title vests in such authority and rent shall be apportioned as of the date possession is required to be surrendered to such authority, except with regard to (y) items occurring prior date. Notwithstanding anything herein to the taking and (z) provisions of this Lease thatcontrary, by their express terms, survive the expiration or earlier termination hereof.
22.2. 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, or sole to prevent such taking, then, without regard to whether if any portion of the Premises occupied by Tenant was so takenLand or the Building is condemned, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to and the taking and (b) provisions of this Lease thatnature, by their express terms, survive the expiration location or earlier termination hereof) as extent of such taking if condemnation is such taking isthat Landlord elects, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, to demolish the Rent Building (in whole or in part), then Landlord may terminate this Lease by giving one hundred twenty (120) days prior written notice of such termination to Tenant at any time after such condemnation and this Lease shall terminate on the date specified in such notice and rent shall be decreased proportionately adjusted to reflect such date. · · Section 2: All awards, damages and other compensation paid by such authority on account of such condemnation shall belong to Landlord, and Tenant assigns to Landlord all rights to such awards, damages and compensation. Tenant shall not make any claim against Landlord or the loss of authority for any portion of such award, damages or compensation attributable to damage to the Premises Premises, value of the unexpired portion of the Lease Term, loss of profits or goodwill, leasehold improvements or severance damages. Nothing contained herein, however, shall prevent Tenant from pursuing a separate claim against the authority for relocation expenses, provided that such claim is stated separately from any award to Landlord and provided further that such claim shall in no longer available way diminish the award, damages or compensation otherwise payable to TenantLandlord in connection with such condemnation.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Lease Agreement (Lucid Inc)
Eminent Domain. 22.1. In the event (a) the whole of the Premises all Affected Areas or (b) such part thereof as shall substantially interfere with Tenant's ▇▇▇▇▇▇’s use and occupancy of the Premises for the Permitted Use shall be taken 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 such authority, except with regard to (y1) items occurring prior to the taking and (z2) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of a partial taking of (a) the Premises Building or the Project or (b) drives, walkways or parking areas serving the Building or the Project for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole sold to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a1) items occurring prior to the taking and (b2) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, is of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3office. Tenant Each party shall be entitled to any award that pursue their own separate claims against the condemning authority as allowed by Applicable Law. However, Landlord shall assert no claims as to the value of the underlying real estate upon which the Building is specifically awarded located and Tenant shall assert no claims as compensation for (a) to the taking value of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4Building. If, upon any taking of the nature described in this SectionArticle, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises Affected Areas to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Lease
Eminent Domain. 22.1. In the event (a) the whole If all of the Premises Property shall be taken permanently under the power of eminent domain or (b) such sold to a government threatening to exercise the power of eminent domain, the Term of this Lease Agreement shall cease as of the day possession shall be so taken. If less than all of the Property shall be taken permanently, or if all of the Property or any 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 parties waive the benefit of any law to the contrary, and (2) there shall be a partial abatement of Lease Payments as shall substantially interfere with Tenant's a result of the application of the Net Proceeds of any eminent domain award to the prepayment of the Lease Payments hereunder, in an amount to be agreed upon by the Town and 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 Premises for the Permitted Use shall be taken 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 such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. 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, or sole to prevent such taking, then, without regard to whether any remaining usable portion of the Premises occupied by Tenant was so takenProperty, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and extent of special funds, such as amounts in the Reserve Fund available for the payment of Lease Payments.
(b) provisions The Town hereby covenants and agrees, to the extent it may lawfully do so, that so long as any of this Lease thatthe Certificates remain outstanding and unpaid, the Town will not exercise the power of condemnation with respect to the leased property. The Town further covenants and agrees, to the extent it may lawfully do so, that if for any reason the foregoing covenant is determined to be unenforceable or if the Town should fail or refuse to abide by their express termssuch covenant and condemns the leased property, survive the expiration or earlier termination hereofappraised value of the leased property shall not be less than the greater of (i) as of such taking if such taking isCertificates are then subject to redemption, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use the principal and interest components of the unappropriated portion for purposes Certificates outstanding through the date of renting space for the Permitted Use.
22.3. Tenant shall be entitled their redemption, or (ii) if such Certificates are not then subject to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretionredemption, the Rent shall be decreased proportionately amount necessary to reflect defease such Certificates to the loss of any portion of first available redemption date in accordance with the Premises no longer available to TenantTrust Agreement.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Lease Agreement
Eminent Domain. 22.1. In the event (a) 23.1 If the whole of the Premises Premises, or (b) such part thereof as shall materially and substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use thereof, shall be taken for any public or quasi-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 such said authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of 23.2 Upon 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, or sole to prevent such taking, then, without regard to whether any portion which does not materially and substantially interfere with Tenant's use of the Premises occupied by Tenant was so takenPremises, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in the sole opinion of Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting leasing such space for the Permitted Useto Tenant.
22.3. 23.3 Tenant shall be entitled to any award that which is specifically awarded as compensation for (a) the taking of Tenant's personal property that property, which was installed at Tenant's expense and (b) the for costs of Tenant moving to a new location. Except as set forth in the previous immediately preceding sentence, any award for such taking shall be the property of belong to Landlord.
22.4. 23.4 If, upon any taking of the nature described in this SectionArticle 23, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their the same condition prior to such partial taking. To the extent such restoration is infeasiblefeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased abated proportionately based upon the extent to reflect the loss of any portion which Tenant's use of the Premises no longer available has decreased on the basis of the percentage of the rental value of the Premises after such taking and the rental value of the Premises prior to Tenantsuch taking.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Eminent Domain. 22.1. In the event Either party may terminate this Lease if (ai) the whole any material part of the Premises Premises, (ii) any material points of vehicle access serving the Building, or (biii) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be any material parking rights under this Lease are taken or condemned for any public or quasi-public purpose use under Law, by any lawful power eminent domain or authority by exercise of private purchase in lieu thereof (a “Taking”). Landlord shall also have the right of appropriation, condemnation or eminent domain, or sold to prevent such taking, Tenant or Landlord may terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date of any order granting possession is required to be surrendered to such to, or vesting legal title in, the condemning authority, except with regard to (y) items occurring prior to the taking and (z) provisions of . If this Lease thatis not terminated, by their express terms, survive Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the expiration or earlier termination hereof.
22.2. In the event of a partial taking square footage of the Premises Building or Premises. All compensation awarded for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking Taking shall be the property of Landlord.
22.4. IfLandlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, upon any taking however, Tenant may file a separate claim for Tenant's personal property and Tenant's reasonable relocation expenses, provided the filing of the nature described in this Section, claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease continues in effectis not terminated, then Landlord shall promptly proceed to Landlord, with reasonable diligence, will restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any remaining portion of the Premises no longer available as nearly as practicable to Tenant.
22.5the condition immediately prior to the Taking. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive Tenant agrees that the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result shall govern any Taking and shall accordingly supersede any contrary statute or rule of any damage or destructionlaw.
Appears in 1 contract
Sources: Lease Agreement (Lantronix Inc)
Eminent Domain. 22.1. In the event (a) case the whole of the Premises Premises, or (b) such part thereof as shall that substantially interfere interferes with Tenant's the reasonable use and occupancy of the Premises for the Permitted Use storage and parking purposes, shall be taken 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 either party shall have the right to terminate this Lease effective as of the date possession is required to be surrendered to such said authority, except with regard to (y) items occurring prior to . Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking and (z) provisions Landlord shall be entitled to receive the entire amount of this Lease that, by their express terms, survive the expiration any award without deduction for any estate or earlier termination hereof.
22.2interest of Tenant. In the event the amount of a partial taking property or the type of estate taken shall not substantially interfere with the reasonable use 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, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so takenstorage and parking purposes, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to the entire amount of the award without deduction for any award that is specifically awarded as compensation for (a) the taking estate or interest of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving . If there is no substantial interference or if there is substantial interference, but neither party elects to a new location. Except as set forth in the previous sentenceterminate, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their the same condition as the Premises existed prior to such partial taking. To , to the extent such restoration is infeasiblepossible by application of the condemnation proceeds only, as determined by Landlord in its sole and absolute discretion, the Rent a proportionate allowance shall be decreased proportionately made to reflect Tenant for the loss of any portion rent corresponding to the time during which, and to the part of the Premises no longer available of which Tenant shall be so deprived on account of such taking and restoration. Nothing contained in this Section shall be deemed to give Landlord any interest in any award made to Tenant for the taking of personal property and fixtures belonging to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive Each party waives the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.California Code
Appears in 1 contract
Sources: Commercial Lease Agreement
Eminent Domain. 22.1. In the event (a) case the whole of the Premises Premises, or (b) such part thereof as shall that substantially interfere interferes with Tenant's the reasonable use and occupancy of the Premises for the Permitted Use as office space, shall be taken 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 either party shall have the right to terminate this Lease effective as of the date possession is required to be surrendered to such said authority, except with regard to (y) items occurring prior to . Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking and (z) provisions Landlord shall be entitled to receive the entire amount of this Lease that, by their express terms, survive the expiration any award without deduction for any estate or earlier termination hereof.
22.2interest of Tenant. In the event the amount of a partial taking property or the type of estate taken shall not substantially interfere with the reasonable use 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, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so takenas office space, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to the entire amount of the award without deduction for any award that is specifically awarded as compensation for (a) the taking estate or interest of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving . If there is no substantial interference or if there is substantial interference, but neither party elects to a new location. Except as set forth in the previous sentenceterminate, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their the same condition as the Premises existed prior to such partial taking. To , to the extent such restoration is infeasiblepossible by application of the condemnation proceeds only, as determined by Landlord in its sole and absolute discretion, the Rent a proportionate allowance shall be decreased proportionately made to reflect Tenant for the loss of any portion rent corresponding to the time during which, and to the part of the Premises no longer available of which Tenant shall be so deprived on account of such taking and restoration. Nothing contained in this Section shall be deemed to give Landlord any interest in any award made to Tenant for the taking of personal property and fixtures belonging to Tenant.
22.5. This Each party waives the provisions of California Code of Civil Procedure Section 22 sets forth 1265.130 allowing either party to petition the terms and conditions upon which Superior Court to terminate this Lease may terminate in the event of any damage or destruction. Accordingly, a partial taking of the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destructionpremises.
Appears in 1 contract
Sources: Commercial Lease Agreement
Eminent Domain. 22.1. In If the event (a) the whole Building, or a substantial part thereof or a substantial part of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use Premises, shall be taken lawfully taken, or condemned, or conveyed under threat of such taking or condemnation, for any public or quasi-public purpose by any lawful power use or authority by exercise purpose, the Term of this Lease shall end upon, and not before, the date of the taking of possession by the condemning authority, and without apportionment of the award t Tenant. Tenant shall have the right to appear at any condemnation proceeding to claim any separate award with respect to the value of appropriationTenant's fixtures, condemnation improvements, furniture, partitions, equipment, relocation expenses and loss of business. Landlord shall have the right to claim and recover all Rent and Additional Rent and other rent or eminent domainsums that would otherwise have been due under the Lease had the Lease not been terminated. Base Rent, Additional Rent and other rent or sold sums to prevent such taking, be paid by Tenant or to Landlord may terminate this Lease effective shall be pro-rated as of the date possession of such termination. Tenant" recovery shall not in any way detract from, or lessen, Landlord's recovery for lost rent or other consideration lost by Landlord. If any non-substantial part of the Building other than the Premises or a non-substantial part of the Premises shall be so taken, or condemned, or conveyed under threat of such taking or condemnation, or if the grade of any street adjacent to the Building is required changed by any competent authority and such taking or change of grade makes it necessary to be surrendered substantially remodel or restore the Building, Landlord shall have the right to such authority, except with regard to cancel this Lease upon not less than ninety (y90) items occurring days' notice prior to the taking and (z) provisions date of this Lease that, cancellation designated in the notice. No money or other consideration shall be payable by their express terms, survive Landlord to Tenant for the expiration or earlier termination hereof.
22.2. 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 appropriationcancellation, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled have no right to share in any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss proceeds of any portion sale made under any threat of the Premises no longer available to Tenantcondemnation or taking.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Eminent Domain. 22.1. In If the event (a) the whole Building Complex, or a substantial part thereof, or a substantial part of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use Leased Premises, shall be lawfully taken or condemned (or conveyed under threat of such taking or condemnation) for any public or quasi-public purpose by any lawful power use or authority by exercise purpose, the Term of this Lease shall end upon, and not before, the date of the right taking of appropriationpossession by the condemning authority, condemnation or eminent domainand without apportionment of the award. Tenant hereby assigns to Landlord ▇▇▇▇▇▇’s interest, or sold to prevent if any, in such taking, Tenant or Landlord may terminate this Lease effective award. Current Rent shall be apportioned as of the date possession 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 or condemnation), or if the grade of any street adjacent to the Building Complex is required changed by any competent authority and such taking or change of grade makes it necessary or desirable to be surrendered substantially remodel, replace or restore any part of the Building Complex, Landlord shall have the right to such authority, except with regard to cancel this Lease upon not less than ninety (y90) items occurring calendar days’ notice prior to the taking 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 (z) provisions Tenant shall have no right to share in any condemnation award, or in any judgment for damages, or in any proceeds of this Lease that, by their express terms, survive the expiration any sale made under any threat of condemnation or earlier termination hereof.
22.2taking. In the event of a partial taking of this Lease is not canceled, 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, or sole to prevent such taking, thenLease shall continue in full force and effect, without regard abatement or reduction of rental due hereunder. Notwithstanding the foregoing, nothing contained herein shall prevent Tenant from commencing a separate proceedin g against the condemning authority to whether recover any portion of the Premises occupied by Tenant was so taken, Landlord award it may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage such taking or destructioncondemnation.
Appears in 1 contract
Sources: Lease Agreement
Eminent Domain. 22.1. In the event (a) the whole Either party may terminate this Lease if any material part of the Premises is taken or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken condemned for any public or quasi-public purpose use under Law, by any lawful power eminent domain or authority by exercise of private purchase in lieu thereof (a “Taking”). Landlord shall also have the right of appropriation, condemnation or eminent domain, or sold to prevent such taking, Tenant or Landlord may terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building, The termination shall be effective as of the effective date of any order granting possession is required to be surrendered to such to, or vesting legal title in, the condemning authority, except with regard to (y) items occurring prior to the taking and (z) provisions of . If this Lease thatis not terminated, by their express terms, survive Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the expiration or earlier termination hereof.
22.2. In the event of a partial taking square footage of the Premises Building or Premises. All compensation awarded for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking Taking shall be the property of Landlord.
22.4. IfLandlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, upon any taking however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the nature described in this Section, claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease continues in effectis not terminated, then Landlord shall promptly proceed to Landlord, with reasonable diligence, will restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any remaining portion of the Premises no longer available as nearly as practicable to Tenant.
22.5the condition immediately prior to the Taking. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive Tenant agrees that the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result shall govern any Taking and shall accordingly supersede any contrary statute or rule of any damage or destructionlaw.
Appears in 1 contract
Eminent Domain. 22.1. 13.01 In the event (a) that the whole or a substantial part of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be condemned or taken in any manner for any public or quasi-public purpose by any lawful power use (or authority by exercise sold under threat of such taking), and as a result thereof, the remainder of the right of appropriation, condemnation or eminent domain, or sold Premises cannot be used for the same purpose as prior to prevent such taking, Tenant or Landlord may terminate this Lease effective shall terminate as of the date possession is required taken; provided, however, if Landlord elects to make comparable space in the Building available to Tenant under the same Rent and terms as herein provided, Tenant shall accept such space and this Lease shall then apply to such space.
13.02 If less than a substantial part of the Premises shall be surrendered so condemned or taken (or sold under threat thereof) and after such taking the Premises can be used for the same purposes as prior thereto, this Lease shall cease only as to the part so taken as of the date possession shall be taken by such authority, except and Tenant shall pay full Rent up to that date (with regard to (y) items occurring prior appropriate refund by Landlord of such Rent attributable to the taking part so taken as may have been paid in advance for any period subsequent to the date possession is taken) and (z) provisions thereafter Monthly Base Rent and Adjustments shall be equitably adjusted to reflect the reduction in the Premises by reason of this Lease thatsuch taking. Landlord shall, by their express termsat its expense, survive make all necessary repairs or alterations to the expiration Building so as to constitute the remaining Premises a complete architectural unit, provided that Landlord shall not be obligated to undertake any such repairs or earlier termination hereofalterations if the cost thereof exceeds the award resulting from such taking.
22.2. In the event of a partial taking 13.03 If part of the Premises for Building shall be so condemned or taken (or sold under threat thereof), or if any adjacent property or street shall be condemned or improved by a public or quasi-public purpose by authority in such a manner as to alter the use of any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion part of the Premises occupied by Tenant was so takenor the Building and, in the opinion of Landlord, the Building or any part thereof should be altered, demolished or restored in such a way as to materially alter the Premises, Landlord may elect to terminate this Lease by notifying Tenant of such termination within sixty (except with regard to (a60) items occurring prior to days following the taking of possession by such public or quasi-public authority, and (b) provisions of this Lease thatshall expire on the date specified in the notice of termination, by their express termswhich shall be not less than sixty (60) days after the giving of such notice, survive as fully and completely as if such date were the date hereinbefore set forth as the expiration or earlier termination hereof) of the Term, and the Monthly Base Rent and Adjustments hereunder shall be apportioned as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Usedate.
22.3. Tenant 13.04 Landlord shall be entitled to any award that is specifically awarded as compensation receive the entire award, including the damages for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property taken and damages to the remainder, with respect to any condemnation proceedings affecting the Building. Tenant agrees not to make any claim against Landlord or the condemning authority for any portion of Landlord.
22.4. Ifsuch award or compensation, upon whether attributable to the value of any taking unexpired portion of the nature described in this SectionTerm, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of profits, goodwill, leasehold improvements or otherwise, Tenant irrevocably assigning any portion of the Premises no longer available and all such claims to TenantLandlord.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Office Space Lease (2 Infinity Inc)
Eminent Domain. 22.121.1. In the event (a) the whole of the Premises or (b) such part thereof as shall substantially interfere with Tenant's ’s use and occupancy of the Premises for the Permitted Use shall be taken 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 such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.221.2. 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, or sole sold to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.321.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's ’s personal property or trade fixtures that was were purchased or installed at Tenant's expense ’s expense, including without limitation, any crops or inventory at the Property and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.421.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.521.5. This Section 22 21 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Lease Agreement (Innovative Industrial Properties Inc)
Eminent Domain. 22.1. In Except as hereinafter provided, if the event (a) the whole of the Premises Building, or (b) such part portion thereof as shall substantially interfere with to render the balance (if reconstructed to the maximum extent practicable in the circumstances) unsuitable for Tenant's use and occupancy of the Premises for the Permitted Use purposes, shall be taken for any public by condemnation 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 takingif Tenant's parking privileges should be substantially reduced thereby, Tenant or Landlord may terminate this Lease effective as of shall have the date possession is required to be surrendered to such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. 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, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease by notice to Landlord of its desire to do so, provided that such notice is given not later than thirty (30) days after the effective date of such taking. If so much of the Building shall be so taken that Landlord (i) terminates all of the leases in the Building (except with regard that during the last three (3) years of the Term, Landlord shall be required to (a) items occurring prior to terminate only leases covering an aggregate of 80% of the taking rentable floor area of the Building), and (bii) provisions of this Lease thatdetermines that it would be appropriate to raze or substantially alter the Building, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore have the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties right to terminate this Lease by giving notice to Tenant of Landlord's desire to do so not later than thirty (30) days after the effective date of such taking. Should any part of the Premises be so taken or condemned during the Term, and should this Lease be not terminated in accordance with the foregoing provisions, Landlord agrees to use reasonable efforts to put what may remain of the Premises into proper condition for use and occupation as a result nearly like the condition of any damage the Premises prior to such taking as shall be practicable, and furnish or destructioncause to be furnished parking privileges to Tenant consistent with the terms of this Lease subject, however, to applicable laws and codes then in existence and to the availability of sufficient proceeds from the eminent domain taking.
Appears in 1 contract
Sources: Sublease (Viacell Inc)
Eminent Domain. 22.1. In If the event (a) the whole Building, or a substantial part thereof, or a substantial part of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use Premises, shall be lawfully taken or condemned (or conveyed under threat of such taking or condemnation) for any public or quasi-public purpose by any lawful power use or authority by exercise purpose, the Term of this Lease shall end upon, and not before, the date of the right taking of appropriationpossession by the condemning authority, condemnation or eminent domainand without apportionment of the award. Tenant hereby assigns to Landlord Tenant's interest, or sold to prevent if any, in such taking, Tenant or Landlord may terminate this Lease effective award. Current Rent shall be apportioned as of the date possession of such termination. If any part of the Building, other than the Premises or not constituting a part of the Premises, shall be so taken or condemned (or conveyed under threat of such taking or condemnation), or if the grade of any street adjacent to the Building is required changed by any competent authority and such taking or change of grade makes it necessary or desirable to be surrendered substantially remodel or restore the Building, Landlord shall have the right to such authority, except with regard to cancel this Lease upon not less than ninety (y90) items occurring days' notice prior to the taking 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 (z) provisions Tenant shall have no right to share in any condemnation award, or in any judgment for damages, or in any proceeds of this Lease that, by their express terms, survive the expiration any sale made under any threat of condemnation or earlier termination hereof.
22.2taking. In the event this Lease is not canceled, the Lease shall continue in full force and effect, without abatement or reduction of rental due hereunder. Notwithstanding the above, Tenant shall have the right to make a partial taking of the Premises separate claim for any public moving or quasi-public purpose by relocation expenses associated with any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior domain proceedings relating to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted UsePremises.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Standard Building Lease (Bourbon Brothers Holding Corp)
Eminent Domain. 22.123.1. In the event (a) the whole of the Premises Demised Premises, or (b) such part thereof or of the Project as shall substantially interfere with the Tenant's use and occupancy of the Premises for the Permitted Use thereof, shall be taken 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 such said authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.223.2. In the event of a partial taking of the Premises Building, the Project or of drives, walkways, and parking areas serving the Building or the Project for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole sold to prevent such taking, then, then without regard as to whether any portion of the Demised Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in the reasonable opinion of Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting office rentals, laboratory space for the Permitted Useor manufacturing facilities.
22.323.3. Tenant shall be entitled to any award that which is specifically awarded as compensation for (a) the taking of Tenant's personal property that which was installed at Tenant's expense expense, for the value of Tenant's good will, for any damage to Tenant's business and (b) the for costs of Tenant moving to a new location. Except as before set forth in the previous sentenceforth, any award for such taking shall be the property of belong to Landlord.
22.423.4. If, If upon any taking of the nature described in this Section, Section 23 this Lease continues in effect, then the Landlord shall promptly proceed to restore the Premises Demised Premises, Building and the Project to substantially their same condition prior to such partial taking. To the extent such restoration is infeasiblefeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased abated proportionately based upon the extent to reflect the loss of any portion which Tenant's use of the Demised Premises no longer available has decreased on the basis of the percentage of the rental value of the Demised Premises after such taking and the rental value of the Demised Premises prior to Tenantsuch taking.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Eminent Domain. 22.1. In If the event (a) the whole Building, or a substantial part thereof or a substantial part of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use Premises, 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 purpose use or purpose, the term of this Lease shall end upon and not before the date of the taking of possession by the condemning authority and without apportionment of the award. Tenant hereby assigns to Landlord ▇▇▇▇▇▇’s interest, if any, in such award and specifically agrees that any lawful power or authority by exercise such 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 appropriation, condemnation or eminent domain, or sold the condemning authority to prevent proceed with such taking, Tenant or Landlord may terminate this Lease effective Current rent shall be apportioned as of the date possession of such termination. If any part of the Building other than the Premises or not constituting a substantial part of the Premises, shall be so taken or condemned (or conveyed under threat of such taking or condemnation), or if the grade of any street adjacent to the Building is required changed by any competent authority and such taking or change of grade makes it necessary or desirable to be surrendered substantially remodel or restore the Building, Landlord shall have the right to such authority, except with regard to cancel this Lease upon not less than ninety (y90) items occurring days notice prior to the taking and (z) provisions date of this Lease that, cancellation designated in the notice. No money or other consideration shall be payable by their express terms, survive Landlord to Tenant for the expiration or earlier termination hereof.
22.2. 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 appropriationcancellation, condemnation, and Tenant shall have no right to share in any condemnation award or eminent domain, in any judgment for damages or sole to prevent such in any proceeds of any sale made under any threat of condemnation or taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled have the right to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any separately pursue its own award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate relocation expenses in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destructionsuch condemnation proceedings.
Appears in 1 contract
Eminent Domain. 22.1. In the event (a) If the whole of the Premises Building or (b) Premises, or such part portion thereof as shall substantially interfere with will make the Building or Premises unusable in the reasonable judgment of Landlord and Tenant's use , cooperating together reasonably and occupancy of the Premises in good faith, for the Permitted Use shall be their intended purposes, is condemned or taken by any legally constituted authority for any public use or quasi-public purpose by any lawful power purpose, then in either of said events, Landlord 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 by written notice to the other and the Term hereby granted shall cease from that time when possession thereof is taken by the condemning authorities, and Rent shall be accounted for as between Landlord and Tenant as of the date possession is required to be surrendered to such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2that date. In the event of If 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, or sole to prevent such taking, then, without regard to whether any portion of the Building or Premises occupied by Tenant was is so taken, but not such amount as will make the Premises unusable in the reasonable judgment of Landlord may and Tenant, cooperating together reasonably and in good faith, for the purposes herein leased, or if neither Landlord nor Tenant elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Sectionaforesaid, this Lease continues shall continue in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole full force and absolute discretion, effect and the Rent shall be decreased proportionately reduced pro rata in proportion to reflect the loss of any portion amount of the Premises so taken. Tenant shall have no longer available right or claim to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event any part of any damage award made to or destructionreceived by Landlord for such condemnation or taking, and all awards for such condemnation or taking shall be made solely to Landlord. AccordinglyTenant shall, however, have the parties hereby waive right to pursue any separate award that does not reduce the provisions of any Applicable Laws (and any successor statutes) permitting the parties award to terminate this Lease as a result of any damage or destructionwhich Landlord is entitled.
Appears in 1 contract
Sources: Lease Agreement (Ndchealth Corp)
Eminent Domain. 22.1. In the event (a) If the whole or more than fifty percent (50%) of the Demised Premises (or (b) such part thereof as shall substantially interfere with Tenant's use and or occupancy of the Premises for the Permitted Use Demised Premises) shall be taken or condemned by an 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 any lawful power or authority by exercise portion of the right of appropriationLand or Building are so taken, condemnation condemned or eminent domainconveyed and as a result thereof, or sold to prevent such takingin Landlord’s judgement, Tenant or Landlord may terminate the Demised Premises cannot be used for Tenant’s permitted use as set forth herein, then this Lease effective shall cease and terminate as of the date possession is required to when title vests in such governmental or quasi-governmental authority and the Fixed Rent and Additional Rent shall be surrendered to abated on the date when such title vests in such governmental or quasi-governmental authority, except with regard to . If less than fifty percent (y50%) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of a partial taking of the Demised Premises is taken or condemned by any governmental or quasi-governmental authority for any public or quasi-public use or purpose by (including sale under threat of such a taking), the Fixed Rent and Tenant’s proportionate share shall be equitably adjusted )on the 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 Lease shall otherwise continue in full force and effect. In any lawful power or authority by exercise of right of appropriationcase, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether Tenant shall have no claim against Landlord for any portion of the Premises occupied by Tenant was so taken, Landlord amount that may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease damages as a result of any damage governmental or destructionquasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all 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 award payable to Landlord.
Appears in 1 contract
Eminent Domain. 22.1. In the event (a) If the whole or more than fifty percent (50%) of the Demised Premises (or (b) such part thereof as shall substantially interfere with Tenant's use and or occupancy of the Premises for the Permitted Use Demised Premises) shall be taken or condemned by an 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 any lawful power or authority by exercise portion of the right of appropriationLand or Building are so taken, condemnation condemned or eminent domainconveyed and as a result thereof, or sold to prevent such takingin Landlord’s judgment, Tenant or Landlord may terminate the Demised Premises cannot be used for Tenant’s permitted use as set forth herein, then this Lease effective shall cease and terminate as of the date possession is required to when title vests in such governmental or quasi-governmental authority and the Fixed Rent and Additional Rent shall be surrendered to abated on the date when such title vests in such governmental or quasi-governmental authority, except with regard to . If less than fifty percent (y50%) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of a partial taking of the Demised Premises is taken or condemned by any governmental or quasi-governmental authority for any public or quasi-public use or purpose by (including sale under threat of such a taking), the Fixed Rent and Tenant’s proportionate share shall be equitably adjusted )on the 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 Lease shall otherwise continue in full force and effect. In any lawful power or authority by exercise of right of appropriationcase, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether Tenant shall have no claim against Landlord for any portion of the Premises occupied by Tenant was so taken, Landlord amount that may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease damages as a result of any damage governmental or destructionquasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all rights of Tenant to damages therefore 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 award payable to Landlord.
Appears in 1 contract
Eminent Domain. 22.1. In the event (a) If the whole or a material portion of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use 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 any lawful power or authority by exercise portion of the right of appropriationProperty are so taken, condemnation condemned or eminent domainconveyed and as a result thereof, or sold to prevent such takingin Landlord’s reasonable judgment, Tenant or Landlord may terminate the Premises cannot be used for Tenant’s Permitted Use as set forth herein, then this Lease effective shall cease and terminate as of the date possession is required to when title vests in such governmental or quasi-governmental authority and Base Rent and Additional Rent shall be surrendered to abated on the date when such title vests in such governmental or quasi-governmental authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of If less than a partial taking material portion of the Premises shall be taken or condemned by a governmental or quasi-governmental authority for any public or quasi-public use or purpose by (including sale under threat of such a taking), Base Rent and Additional Rent shall be equitably abated on the date when such title vests in such governmental or quasi-governmental authority and this Lease shall otherwise continue in full force and effect. In any lawful power or authority by exercise of right of appropriationcase, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether Tenant shall have no claim against Landlord for any portion of the Premises occupied by Tenant was so taken, Landlord amount that may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease damages as a result of any damage governmental or destructionquasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all 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 award payable to Landlord. As used herein, “material portion of the Premises” shall mean such amount that, in Landlord’s reasonable judgment, would render the Premises untenantable for the Permitted Use by Tenant as being conducted prior to such taking or condemnation.
Appears in 1 contract
Eminent Domain. 22.1. In If the event (a) Premises, any substantial part thereof, the whole of land on which the Premises Building stands, or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use any estate therein shall be taken by any competent authority under the power of eminent domain, or is conveyed or leased in lieu of such taking, or is acquired for any public or quasi-public purpose use or purpose, the Term of this Lease shall terminate upon the date when the possession of said Premises or the part thereof so taken, is taken, conveyed, or leased, without apportionment of the award, and Tenant shall have no claim against Landlord for the value of any unexpired Term. If any condemnation proceedings shall be instituted in which it is sought to take or damage any part of the 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 lawful power competent authority, and such change of grade makes it necessary or authority by exercise of desirable to remodel the Building to conform to the changed grade, Landlord shall have the right of appropriation, condemnation or eminent domain, or sold to prevent such taking, Tenant or Landlord may terminate cancel this Lease effective after having given written notice of cancellation to Tenant not less than ninety (90) days prior to the date of condemnation designated in the notice. In either of said events, rent at the then-current rate shall be apportioned as of the date possession is required of the termination. No money or other consideration shall be payable by Landlord to be surrendered Tenant for the right of cancellation, and the Tenant shall have no right to such authority, except with regard to (y) items occurring prior to share in the condemnation award or in any judgment for damages caused by the taking and (z) provisions or the change of grade. Nothing in this Lease that, Paragraph shall preclude an award being made to Tenant by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event condemning authority for loss 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, condemnationbusiness, or eminent domaindepreciation to, and cost of removal of, equipment or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Usefixtures.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Eminent Domain. 22.1. In the event (a) the whole Either party may terminate this Lease if any material part of the Premises is taken or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken condemned for any public or quasi-public purpose use under Law, by any lawful power eminent domain or authority by exercise of private purchase in lieu thereof (a “Taking”). Landlord shall also have the right of appropriation, condemnation or eminent domain, or sold to prevent such taking, Tenant or Landlord may terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The terminating party shall provide written notice of termination to the other party within 45 days after it first receives notice of the Taking. The termination shall be effective as of the effective date of any order granting possession is required to be surrendered to such to, or vesting legal title in, the condemning authority, except with regard to (y) items occurring prior to the taking and (z) provisions of . If this Lease thatis not terminated, by their express terms, survive Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the expiration or earlier termination hereof.
22.2. In the event of a partial taking square footage of the Premises Building or Premises. All compensation awarded for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking Taking shall be the property of Landlord.
22.4Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however. IfTenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, upon any taking provided the filing of the nature described in this Section, claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease continues in effectis not terminated. Landlord, then Landlord shall promptly proceed to with reasonable diligence, will restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any remaining portion of the Premises no longer available as nearly as practicable to Tenant.
22.5the condition immediately prior to the Taking. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive Tenant agrees that the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result shall govern any Taking and shall accordingly supersede any contrary statute or rule of any damage or destructionlaw.
Appears in 1 contract
Sources: Sublease (Medicinova Inc)
Eminent Domain. 22.1. In the event (a) case the whole of the Premises Premises, or (b) such part thereof as as, in the reasonable determination of Landlord, shall substantially interfere with Tenant's use and occupancy occupation thereof, or such portion of the Premises for Building or Project as, in the Permitted Use reasonable determination of Landlord, shall substantially interfere with Landlord's ability to perform its obligations under this Lease, shall be taken 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 be sold in lieu of or to prevent such taking, Tenant or Landlord may either party shall have the right to terminate this Lease effective as of the date possession is required to be surrendered to such said authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event case 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, or sole to prevent such taking, then, without regard to whether any a portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking isPremises, in the event the amount of property or the type of estate taken shall not, in the reasonable determination of Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of substantially interfere with the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking conduct of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentencebusiness, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To taking (less the extent portion thereof lost in such restoration is infeasiblecondemnation), as determined by Landlord in its sole and absolute discretion, the Base Rent and Tenant's Share shall be decreased proportionately to reflect reduced by the loss of any portion of the Premises no longer available which Tenant shall have been deprived of on account of said taking, effective as of the date possession is required to Tenant.
22.5be surrendered to the condemning authority. This Section 22 sets forth In the terms and conditions upon which event, however, that such taking is for temporary use only, this Lease may terminate shall continue in the event full force and effect, and Tenant shall continue to comply with all of any damage or destruction. Accordingly, the parties hereby waive the provisions hereof, except as such compliance shall be rendered impossible or impracticable by reason of any Applicable Laws (such temporary taking. Rent shall ▇▇▇▇▇ during the course of a temporary taking of the Premises or a portion thereof to the extent and any successor statutes) permitting for the parties to terminate this Lease as a result period of any damage time that the Premises or destructionportion thereof so taken shall have been rendered untenantable.
Appears in 1 contract
Sources: Lease Agreement (Bionx Implants Inc)
Eminent Domain. 22.1. In the event (a) the whole If all of the Premises or (b) the Building is taken, or if such a part of either is taken so as to render the remainder thereof as shall substantially interfere with unsuitable for Landlord's or Tenant's use and occupancy of the Premises for the Permitted Use shall be taken purposes, for any public or quasi-public purpose use by any lawful power eminent domain or by private purchase in lieu thereof, this Lease shall terminate at the option of either Landlord or Tenant on the date that the condemning authority by exercise actually takes possession of the right of appropriation, condemnation or eminent domainpart condemned. If this Lease is not so terminated, or sold upon a taking not within the scope of the foregoing, Total Rent shall abate for the period of such ta▇▇▇▇ in proportion to prevent the area of the Premises taken. In no event shall Tenant have any right or claim to any part of any award made to or received by Landlord for such taking, Tenant or against Landlord may terminate this Lease effective as or the condemning authority for the value of the date possession is required to be surrendered to such authority, except with regard to (y) items occurring prior to the taking and (z) provisions any unexpired term of this Lease thatLease, by their express termsand Tenant hereby assigns any such claim to Landlord. Nothing herein contained, survive however, shall preclude Tenant from claiming, proving and receiving from the expiration or earlier termination hereof.
22.2. In the event of condemning authority 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, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space separate award for the Permitted Use.
22.3. Tenant shall be entitled to value of any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of taken which Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore could have rightfully removed from the Premises to substantially their same condition prior to such partial taking. To hereunder and for relocation and moving expenses, so long as the extent such restoration Landlord's award is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenantnot thereby reduced.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Eminent Domain. 22.1. In the event (a) the whole A. If a portion of the Premises Building or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be lawfully taken or condemned for any public or quasi-public use or purpose, or conveyed under threat of such condemnation and as a result thereof the Premises cannot be used for the same purpose by any lawful power and with the same utility as before such taking or authority by exercise conveyance, the terms of this Lease shall end upon, and not before, the date of the right taking of appropriationpossession by the condemning authority, condemnation or eminent domainand without apportionment of the award. Tenant hereby assigns to the Landlord, or sold to prevent Tenant’s interest in such takingaward, Tenant or Landlord may terminate this Lease effective if any. Current rent shall be apportioned as of the date possession is required to of such termination. If any part of the Building shall be surrendered to such authorityso taken or condemned, except with regard to (y) items occurring prior or if the grade of any street or alley adjacent to the Building is changed by any competent authority and such taking and (z) provisions or change of grade makes it necessary or desirable to demolish, substantially remodel, or restore the Building, the Landlord shall have the right to cancel this Lease that, by their express terms, survive upon not less than ninety (90) days’ prior notice to the expiration or earlier termination hereofdate of cancellation designed in the notice.
22.2. In the event of B. If 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, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied shall be lawfully taken or condemned or conveyed under threat of condemnation but thereafter the Premises can be used by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) same purpose and with substantially the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Sectionsame utility, this Lease continues in effect, then shall not be terminated and Landlord shall promptly proceed to restore repair the Premises (but Landlord shall not be required to substantially their same condition prior to expend more on such partial taking. To repair than the extent such restoration is infeasibleamount of the condemnation award), as determined by Landlord in its sole and absolute discretion, the Rent Lease shall be decreased proportionately amended to reflect equitably reduce the loss Base Rent. No money or other consideration shall be payable by the Landlord to the Tenant for any right of cancellation or temporary taking, and the Tenant shall have no right to share in any portion condemnation award or to share in any judgment for damages caused by a change of the Premises no longer available to Tenantgrade.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Eminent Domain. 22.1. In the event (a) case the whole of the Premises Premises, or (b) such part thereof as shall substantially interfere with the Tenant's ’s use and occupancy of the Premises for the Permitted Use thereof, shall be taken for any public or quasi-public purpose by any lawful power or authority authority, by exercise of the right of appropriation, condemnation or eminent domain, or sold to prevent such taking, the Tenant or Landlord may the Landlord, may, at its option, terminate this Lease effective as of the date possession is required to be surrendered to said authority. Tenant shall not, because of such authoritytaking, except with regard to (y) items occurring prior to assert any claim against the Landlord or the taking authority for any compensation because of such taking, and (z) provisions Landlord shall be entitled to receive the entire amount of this Lease that, by their express terms, survive the expiration any award without deduction for any estate or earlier termination hereof.
22.2any interest of Tenant. In the event the amount of a partial taking property or the type of estate taken shall not substantially interfere with the Premises for any public or quasi-public purpose by any lawful power or authority by exercise conduct of right of appropriation, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so takenTenant’s business, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant shall be entitled to the entire amount of the award without deduction for any award that is specifically awarded as compensation for (a) the taking estate or interest of Tenant's personal property that was installed , and Landlord at Tenant's expense and (b) the costs of Tenant moving to a new locationits option may terminate this Lease. Except as set forth in the previous sentenceIf Landlord does not so elect, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking, and a proportionate allowance shall be made to Tenant for the rent. To corresponding to the extent such time during which said restoration is infeasible, as determined by Landlord in its sole being made and absolute discretion, to the Rent shall be decreased proportionately to reflect the loss of any portion part of the Premises no longer available of which Tenant shall be so deprived on account of such taking and restoration. Nothing contained in this Paragraph shall be deemed to give Landlord any interest in any specific award made to Tenant for the taking of personal property and fixtures belonging to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Eminent Domain. 22.1. 23.1 In the event (a) the whole of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken 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 such said authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. 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, or sole sold to prevent such taking, then, without regard to whether any portion of the Premises occupied by then Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking isis of material detriment to, in Landlordand substantially interferes with, Tenant’s sole opinion, use and occupancy of the Premises. In no event shall this Lease be terminated when such a partial taking does not have a material nature such adverse effect upon Tenant. Termination by Tenant pursuant to this section shall be effective as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Usedate possession is required to be surrendered to said authority.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, 23.3 If upon any taking of the nature described in this Section, Article 23 this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises remaining portion of the Premises, and all improvements and fixtures located thereon, to substantially their same condition prior to such partial taking; provided, however, Landlord’s obligation hereunder shall be limited to the amount of the condemnation proceeds. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Basic Annual Rent shall be decreased abated proportionately on the basis of the rental value of the Premises, including improvements and fixtures, as restored after such taking compared to reflect the loss of any portion rental value of the Premises no longer available prior to Tenantsuch taking.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Lease (Icagen Inc)
Eminent Domain. 22.1. In If the event (a) the whole entire Building or a substantial part thereof or any part thereof which includes all or a substantial part of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use 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 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 lawful power or authority by exercise of the right of appropriationcompetent authority, condemnation or eminent domain, or sold to prevent and such taking, Tenant damage, change of grade or Landlord may terminate this Lease effective as of closing makes it necessary or desirable to remodel the date possession is required Building to be surrendered to such authority, except with regard to (y) items occurring prior conform to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. 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, or sole to prevent such taking, thendamage, without regard to whether any portion of the Premises occupied by Tenant was so takenchanged grade or closing, Landlord may elect shall have the right to terminate this Lease upon not less than ninety (except with regard 90) days, written notice to (a) items occurring Tenant prior to the taking and (b) provisions date of this Lease that, by their express terms, survive termination designated in the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use notice. In either of the unappropriated portion for purposes events above referred to, Rent at the then current rate shall be apportioned on a per diem basis and be payable to the date of renting space the termination. No money or other consideration shall be payable by Landlord to Tenant for the Permitted Use.
22.3right of termination. Tenant shall be entitled have no right to claim or share in any award that is specifically awarded as compensation condemnation award, whether for (a) the taking a total or partial taking, for loss of Tenant's personal property that was installed at Tenant's expense and (b) the costs leasehold or improvements or other loss or expenses, or in any judgment for damages caused by any change of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlordgrade or street or alley closing.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Office Lease (Excal Enterprises Inc)
Eminent Domain. 22.1. In If the event (a) the whole Building, or a substantial part thereof, or a substantial part of the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use Premises, shall be lawfully taken or condemned (or conveyed under threat of such taking or condemnation) for any public or quasi-public purpose by any lawful power use or authority by exercise purpose, the Term of this Lease shall end upon, and not before, the date of the right taking of appropriationpossession by the condemning authority, condemnation or eminent domainand without apportionment of the award. Tenant hereby assigns to Landlord Tenant's interest, or sold to prevent if any, in such taking, Tenant or Landlord may terminate this Lease effective award. Current Rent shall be apportioned as of the date possession of such termination. If any part of the Building, other than the Premises or not constituting a substantial part of the Premises, shall be so taken or condemned (or conveyed under threat of such taking or condemnation), or if the grade of any street adjacent to the Building is required changed by any competent authority and such taking or change of grade makes it necessary or desirable to be surrendered substantially remodel or restore the Building, Landlord shall have the right to such authority, except with regard to cancel this Lease upon not less than ninety (y90) items occurring days' notice prior to the taking 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 (z) provisions Tenant shall have no right to share in any condemnation award, or in any judgment for damages, or in any proceeds of this Lease that, by their express terms, survive the expiration any sale made under any threat of condemnation or earlier termination hereof.
22.2taking. In the event this Lease is not canceled, the Lease shall continue in full force and effect, without abatement or reduction of rental due hereunder. Notwithstanding the above, Tenant shall have the right to make a partial taking of the Premises separate claim for any public moving or quasi-public purpose by relocation expenses associated with any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior domain proceedings relating to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted UsePremises.
22.3. Tenant shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage or destruction.
Appears in 1 contract
Sources: Standard Building Lease (Integrated Information Systems Inc)
Eminent Domain. 22.1. In If the event (a) Premises, the whole of Building, or such a substantial part thereof, which in Landlord's reasonable judgment renders the Premises or (b) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises remainder unfit for the Permitted Use intended uses, shall be taken by any competent authority under the power of the eminent domain or be acquired for any public or quasi-public purpose by any lawful power uses or authority by exercise purpose, the term of the right Lease shall cease and terminate upon the effective date 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 such authority, except with regard to (y) items occurring prior to the taking and (z) provisions Tenant shall have no claim against Landlord for the value of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of a partial taking any unexpired term of the Premises Lease. If any part of the Building is taken by any competent authority under the power of eminent domain or is acquired for any public or quasi-public purpose by any lawful power uses or authority by exercise of right of appropriation, condemnationpurpose, or eminent domain, if the configuration or sole grade of any street or alley or other improvement or structure adjacent to prevent the Building is changed and such taking, thenor acquisition, without regard or change of grade or configuration makes it necessary or desirable in Landlord's judgment to whether remodel the Building to conform to the taking, acquisition, or changed grade or configuration, Landlord shall have the right to terminate this Lease after having given written notice of termination to Tenant not less than ninety (90) days prior to the date of 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. If any portion of the Premises occupied by Tenant was is so takentaken and the Lease is not terminated, Landlord may elect to terminate this Lease (except with regard to (a) items occurring prior to the taking then Base Rent and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting space for the Permitted Use.
22.3. Tenant Tenant's Proportionate Share shall be entitled to any award that is specifically awarded as compensation for (a) the taking of Tenant's personal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. Except as set forth in the previous sentence, any award for such taking shall be the property of Landlord.
22.4. If, upon any taking of the nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately equitably reduced to reflect the loss of any portion new rentable square footage of the Premises Premises. No money or other consideration shall be payable by Landlord to Tenant for the right of termination and Tenant shall have no longer available right to Tenant.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate share in the event condemnation award or in any judgment for damages caused by the taking or the change of grade. However, nothing in this paragraph shall preclude Tenant from independently seeking an award from the authority for any damage damages or destruction. Accordinglyrelocation benefits which Tenant is entitled to under governing law, provided that such separate award shall not reduce the parties hereby waive the provisions of any Applicable Laws (and any successor statutes) permitting the parties to terminate this Lease as a result of any damage award or destructionjudgment recoverable by Landlord.
Appears in 1 contract
Sources: Office Lease (Ebix Com Inc)