Common use of Eminent Domain Clause in Contracts

Eminent Domain. SECTION 12.1. If the whole of the Premises is acquired or condemned for any public or quasi-public use or purpose, this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 above.

Appears in 5 contracts

Sources: Lease Agreement (Comfort Systems Usa Inc), Lease Agreement (Comfort Systems Usa Inc), Lease Agreement (Comfort Systems Usa Inc)

Eminent Domain. SECTION 12.1. a. If the whole of the Building or Premises is acquired lawfully taken by condemnation or condemned in any other manner for any public or quasi-public use or purpose, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything Rent shall be prorated to such date. If less than the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration whole of the Building or Premises is so taken, this Lease shall be unaffected by such taking, provided that (i) Tenant shall have the right to terminate this Lease by notice to Landlord given within sixty ninety (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (12090) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs taking if twenty percent (120%) or more of the Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (2ii) hereof, Landlord shall have the Tenant, at Tenant's option, may right to terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination notice to Tenant given within thirty ninety (3090) days after the passage date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall terminate on the thirtieth (30th) day after either such notice. The Rent shall be prorated to the date of termination. If this Lease continues in force upon such partial taking, the Base Rent and Tenant’s Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the times periods in subparagraphs (1) Premises and (2) above. Project. b. In the event that such a Notice of termination any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be giventhe exclusive property of Landlord, then this Lease and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the term condemning authority. Tenant, however, shall have the right, to the extent that Landlord’s award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and estate hereby granted shall expire as damage to Tenant’s personal property. c. In the event of a partial taking of the date of termination stated Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the cost of any Maintenance Repair Premises as nearly as practicable to its condition prior to the condemnation or Requirement Alterations taking, but only to the extent required by Section 7.1 aboveof Building Standard Work. Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant’s Property.

Appears in 5 contracts

Sources: Sublease Agreement (Biolargo, Inc.), Office Building Lease (1st Centennial Bancorp), Office Building Lease (Realogy Corp)

Eminent Domain. SECTION 12.1. a. If the whole of the Building or Premises is acquired lawfully taken by condemnation or condemned in any other manner for any public or quasi-public use or purpose, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything Rent shall be prorated to such date. If less than the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration whole of the Building or Premises is so taken, this Lease shall be unaffected by such taking, provided that (i) Tenant shall have the right to terminate this Lease by notice to Landlord given within sixty ninety (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (12090) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs taking if twenty percent (120%) or more of the Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (2ii) hereof, Landlord shall have the Tenant, at Tenant's option, may right to terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination notice to Tenant given within thirty ninety (3090) days after the passage date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall terminate on the thirtieth (30th) day after either such notice. The Rent shall be prorated to the date of termination. If this Lease continues in force upon such partial taking, the Base Rent and Tenant's Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the times periods in subparagraphs (1) Premises and (2) above. Project. b. In the event that such a Notice of termination any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be giventhe exclusive property of Landlord, then this Lease and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the term condemning authority. Tenant, however, shall have the right, to the extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and estate hereby granted shall expire as damage to Tenant's personal property. c. In the event of a partial taking of the date of termination stated Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the cost of any Maintenance Repair Premises as nearly as practicable to its condition prior to the condemnation or Requirement Alterations taking, but only to the extent required by Section 7.1 aboveof Building Standard Work. Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant's Property.

Appears in 4 contracts

Sources: Lease Agreement (Air Methods Corp), Office Building Lease (Centennial First Financial Services), Office Lease (Beverage Works Inc)

Eminent Domain. SECTION 12.1. Section 12.1 If the whole (a) all of the floor area of the Premises, or so much thereof as shall render the Premises is wholly untenantable or not reasonably sufficient for Tenant to continue the normal and practical operation of its business, shall be acquired or condemned for any public or quasi-public use or purpose, or (b) a portion of the Real Property, not including the Premises, shall be so acquired or condemned, but by reason of such acquisition or condemnation, Tenant no longer has means of access to the Premises, then this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1Article 12, the Fixed Rent or and Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent or Additional Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. Section 12.2 In the event of any such acquisition or condemnation of all or any part of the PremisesReal Property, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term or Tenant’s Alterations, and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the then value of any Tenant's ’s Property included in such taking, taking and for any moving expenses, so long as provided such award shall be made by the condemning authority in addition to, and shall not result in a reduction of, the award made by it to Landlord's award is not reduced thereby. (A) Notwithstanding anything Section 12.3 If only a part of the Real Property shall be so acquired or condemned then, subject to Section 12.1, this Lease and the contrary contained Term shall continue in Sections 12.1 force and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration effect. If a part of the Premises within sixty (60) days after shall be so acquired or condemned and this Lease and the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairsTerm shall not be terminated, reconstruction or restoration Landlord, at Landlord’s expense, shall restore that part of the Premises within one hundred twenty (120) days not so acquired or condemned so as to constitute tenantable Premises. From and after the date of such physical takingthe vesting of title, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding reduced in the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion proportion which the area of the cost part of any Maintenance Repair the Premises so acquired or Requirement Alterations condemned bears to the extent required by Section 7.1 abovetotal area of the Premises immediately prior to such acquisition or condemnation.

Appears in 4 contracts

Sources: Sublease (Switch & Data, Inc.), Sublease (Switch & Data, Inc.), Sublease (Switch & Data, Inc.)

Eminent Domain. SECTION 12.1. Section 12.1 If the whole (a) all of the floor area of the Premises, or so much thereof as shall render the Premises is wholly untenantable, shall be acquired or condemned for any public or quasi-public use or purpose, or (b) a portion of the Real Property, not including the Premises, shall be so acquired or condemned, but by reason of such acquisition or condemnation, Tenant no longer has means of access to the Premises, then this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1Article 12, the Fixed Rent or and Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent or Additional Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. Section 12.2 In the event of any such acquisition or condemnation of all or any part of the PremisesReal Property, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term or Tenant’s Alterations, and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the then value of any Tenant's ’s Property included in such taking, taking and for any moving expenses, so long as provided such award shall be made by the condemning authority in addition to, and shall not result in a reduction of, the award made by it to Landlord's award is not reduced thereby. (A) Notwithstanding anything Section 12.3 If only a part of the Real Property shall be so acquired or condemned then, subject to Section 12.1, this Lease and the contrary contained Term shall continue in Sections 12.1 force and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration effect. If a part of the Premises within sixty (60) days after shall be so acquired or condemned and this Lease and the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairsTerm shall not be terminated, reconstruction or restoration Landlord, at Landlord’s expense, shall restore that part of the Premises within one hundred twenty (120) days not so acquired or condemned so as to constitute tenantable Premises. From and after the date of such physical takingthe vesting of title, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding reduced in the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion proportion which the area of the cost part of any Maintenance Repair the Premises so acquired or Requirement Alterations condemned bears to the extent required by Section 7.1 abovetotal area of the Premises immediately prior to such acquisition or condemnation.

Appears in 3 contracts

Sources: Sublease Agreement (Switch & Data, Inc.), Lease Agreement (Switch & Data, Inc.), Lease Agreement (Switch & Data, Inc.)

Eminent Domain. SECTION 12.1. (a) If the whole all of the Premises is acquired taken or condemned for any a public or quasi-public use or purposeuse, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as earlier of the date of termination stated title to the condemned real estate vests in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease condemner and the Term pursuant to the provisions date on which Tenant is deprived of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as possession of all of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2Premises. In the event of any such acquisition Any taking or condemnation of all or any part of the Premises by any authority having the power of eminent domain is hereinafter referred to as a “Taking”. In such event, the Base Rent herein reserved and all Additional Rent and other sums payable hereunder shall be apportioned and paid in full by Tenant to Landlord to the date this Lease is so terminated, all Base Rent, Additional Rent and other sums payable hereunder shall be apportioned and paid in full by Tenant to Landlord to the date this Lease is so terminated, all Base Rent, Additional Rent and other sums payable hereunder prepaid for periods beyond that date shall forthwith be repaid to Tenant, and neither party shall thereafter have any liability hereunder, except for those obligations that survive termination of this Lease. (b) In the event of a Taking of Substantially All of the Premises (as herein defined), Tenant may, at its option, upon thirty (30) days’ written notice to Landlord, which shall be given no later than ninety (90) days following the Taking, terminate this Lease. All Base Rent and other sums payable by Tenant hereunder shall be apportioned and paid through and including the date of Taking. For purpose of this provision, a “Taking of Substantially all of the Premises” shall mean: (i) so much of the Premises as, when taken, leaves the untaken portion unsuitable, in the sole opinion of Tenant, for the continued feasible and economic operation of the Premises by Tenant for the same purposes as immediately prior to such Taking or as contemplated herein, (ii) so many of the parking spaces on the Property as reduces the parking ratio below that which is required by the zoning ordinance applicable to the Premises, unless the applicable governmental authority provides a waiver of such parking requirements or (iii) so much of the Premises that access to the Premises is materially impeded, as reasonably determined by Landlord and Tenant. (c) If only part of the Premises is taken or condemned for a public or quasi- public use and this Lease does not terminate pursuant to Section 8.2(b) above (any such taking or condemnation is hereinafter referred to as a “Partial Taking”), this Lease shall not be thereby terminated, all awards received from the condemnation of the Premises or the Improvements shall, when received, become the absolute property of Landlord without participation by T▇▇▇▇▇ except as set forth herein. The foregoing notwithstanding, if the Premises are encumbered by a Mortgage, the holder of which has entered into a subordination, attornment and non-disturbance agreement with Tenant as contemplated in Section 7.2 above, which agreement provides for the application of proceeds of the award, then such proceeds shall be deposited which such holder (the “Restoration Escrow”) to be disbursed to pay the costs of such repairs and restoration as such repairs and restoration progress. If the proceeds of the award available to Landlord are not sufficient to restore the Premises to a complete unit as similar as is reasonably possible in design, character and quality to the improvements which existed before such Partial Taking, then, notwithstanding anything in this Lease to the contrary, Landlord shall have no obligation to commence any repairs to the Premises unless, within ninety (90) days of the date of the taking, either: (i) Landlord and Tenant agree in writing to the plans and specifications for the proposed restoration, which shall resemble as nearly as possible the condition of the Premises immediately prior to the taking, reduced in size and scope (yet still a complete architectural unit) to allow the restoration to be entitled completed out of available award or, (ii) Tenant agrees to receive pay the costs of the repairs and construction necessary to restore the Premises to the condition as existed prior to such taking which are in excess of the available proceeds from the award and deposits funds in such amount in the Restoration Escrow (or, in the event that there is no lender, in an escrow account available to Landlord) to be disbursed to pay the costs of such repairs and restoration as such repairs and restoration progress. In no event shall Landlord be obligated to make any repairs to the Premises unless and until funds in a sufficient amount to restore the Premises as set forth in this Section are available through a combination of proceeds of the award and Tenant’s funds, as necessary, in the Restoration Escrow, to be drawn upon by Landlord or Landlord’s Mortgagee for repair and restoration purposes. Neither the term nor any of the obligations (including the payment of rentals) of either party under this Lease shall be reduced or affected in any way. Provided however, Tenant may make a claim for its separate damages for loss of business, depreciation to, damage to, cost of removal of, or for the value of Tenant’s Property, and for any relocation allowance or award, so long as such claim, allowance or award shall not diminish or otherwise adversely affect Landlord’s award. (d) In the event of a Taking of the entire Premises or of a Taking of Substantially All of the Premises which results in termination of this Lease in accordance with subsection (b) above (either such Taking, being referred to as a “Total Taking”), the entire award from such Total Taking shall be paid to the Landlord; provided, however, that nothing contained herein shall be construed to preclude Tenant from prosecuting any claim directly against the condemning authority in such condemnation proceedings for loss of business, depreciation to, damage to, cost of removal of, or for the value of Tenant’s Property, and for any relocation allowance or award, and the value of the leasehold, so long as such acquisition claim, allowance or condemnation, but award shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at not diminish or otherwise adversely affect Landlord's expense, to a condition most suitable for the Permitted Use’s award. Tenant shall have no the right, at its own expense, to defend or prosecute any condemnation claim against Landlord or the condemning authority for the value of any unexpired portion on behalf of the Term Landlord and Tenant hereby expressly assigns to T▇▇▇▇▇. Landlord all of its right in and to shall not convey any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, interest in the event that: (1) Premises in lieu of condemnation without the Landlord fails approval of T▇▇▇▇▇ provided that Tenant undertakes to commence defend any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, subsequent and related condemnation action at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 aboveits own expense.

Appears in 3 contracts

Sources: Lease Agreement (Southland Holdings, Inc.), Lease Agreement (Southland Holdings, Inc.), Lease Agreement (Southland Holdings, Inc.)

Eminent Domain. SECTION 12.1. If (a) In the event that title to the whole or any part of the Premises is acquired shall be lawfully condemned or condemned taken in any manner for any public or quasi-public use or purposeuse, this Lease and the Term term and estate hereby granted shall end forthwith cease and terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnationaward, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns assigning to the Landlord all of its right in and to any such awardthe Tenant’s interest therein, if any. Nothing contained in this Section 12.2 However, nothing herein shall be deemed to prevent give Landlord any interest in or to require Tenant from making a separate claim in to assign to Landlord any condemnation proceedings award made to Tenant for the value taking of any personal property or fixtures belonging to Tenant or for the interruption of or damage to Tenant's Property included in such taking, and ’s business or for any Tenant’s moving expenses, so long as Landlord's award is not reduced thereby. (Ab) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in In the event that: (1) that title to a part of the Building other than the Premises shall be so condemned or taken, the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, granted by notifying the Landlord in writing Tenant of such termination within thirty sixty (3060) days after following the passage date of the times periods in subparagraphs (1) vesting of title, and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of on the date specified in the notice of termination stated in said Notice with termination, not less than sixty (60) days after the same effect giving of such notice, as fully and completely as if that such date were the Fixed Expiration Datedate hereinbefore set for the expiration of the term of this Lease, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding . (c) In the termination event of any condemnation or taking of any portion of the parking area of the Property, which does not result in a reduction of the parking ratio to less than one space for each 375 square feet of leased area, the terms of this Lease as provided shall continue in full force and effect. If more of the Property is taken, either party shall have the right to terminate this Subsection 12.3(ALease upon giving written notice to the other party within thirty (30) Landlord days of such taking. (d) For the purpose of this Section 14, a sale to a public or quasi-public authority under threat of condemnation shall constitute a vesting of title and shall be obligated to reimburse to Tenant constructed as a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required taking by Section 7.1 abovesuch condemning authority.

Appears in 3 contracts

Sources: Office Lease (Alimera Sciences Inc), Office Lease (Alimera Sciences Inc), Office Lease (Alimera Sciences Inc)

Eminent Domain. SECTION 12.1. (a) If the whole of the Building or Premises is acquired lawfully taken by condemnation or condemned in any other manner for any public or quasi-public use or purpose, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything Rent shall be prorated to such date. If less than the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration whole of the Building or Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairsis so taken, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of this Lease shall be unaffected by such physical taking, then, as a result of any circumstances described in subparagraphs provided that (1i) or (2) hereof, Tenant shall have the Tenant, at Tenant's option, may right to terminate this Lease and the term and estate hereby granted, by notifying the notice to Landlord in writing of such termination given within thirty (30) days after the passage date of such taking if twenty percent (20%) or more of the times periods in subparagraphs (1) Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (2ii) aboveLandlord shall have the right to terminate this Lease by notice to Tenant given within ninety (90) days after the date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall terminate on the thirtieth (30th) day after either such notice. The Rent shall be prorated to the date of termination. If this Lease continues in force upon such partial taking, the Base Rent and Tenant’s Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the Premises and Project. (b) In the event that such a Notice of termination any taking, partial or whole, all of the proceeds of any lawful judgment or settlement payable by the condemning authority shall be giventhe exclusive property of Landlord, then this Lease and Tenant hereby assigns to Landlord all of its rights, title and interest in any award, judgment or settlement from the term condemning authority. Tenant, however, shall have the right, to the extent that Landlord’s award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and estate hereby granted shall expire as damage to Tenant’s personal property, fixtures and tenant improvements. (c) In the event of a partial taking of the date of termination stated Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the cost of any Maintenance Repair Premises as nearly as practicable to its condition prior to the condemnation or Requirement Alterations taking, but only to the extent required by Section 7.1 aboveof Building Standard Work, Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant’s Property.

Appears in 3 contracts

Sources: Office Lease (Arcadia Biosciences, Inc.), Office Lease (Arcadia Biosciences, Inc.), Office Lease (Arcadia Biosciences, Inc.)

Eminent Domain. SECTION 12.1. A. If the whole of the Premises is shall be acquired or condemned by eminent domain for any public or quasi-public use or purpose, then the term of this Lease shall cease and the Term shall end terminate as of the date of title vesting in the vesting condemning governmental body or other authority pursuant to such proceeding (the “Taking Date”) and all rentals and other charges shall be paid up to that date and Lessee shall have no claim against Lessor for the value of title with any unexpired term of this Lease. B. If less than the same effect as if said date were the Fixed Expiration Date. If only a part whole but more than twenty-five percent (25%) of the Premises is so acquired Premises, or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part more than fifty percent (50%) component of the Premises is so acquired Building, or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet Total Rentable Area of the office component of the Building shall be taken under eminent domain, or sold to public authority under threat or in lieu of such a taking, Lessee shall have the right upon notice to Lessor within ten (10) days after the Taking Date either to terminate this Lease as of the Taking Date, or, subject to Lessor’s right of termination as set forth in Subsection 22D below, to continue in possession of the remainder of the Premises. In the event Lessee elects to remain in possession, all of the terms of this Lease shall continue in effect, except that as of the Taking Date, Initial Rent and other charges payable by Lessee shall be reduced in proportion to the floor area of the Premises taken. Lessor shall, at its cost, but only to the extent of net proceeds of condemnation received by Lessor, make all necessary repairs or ifalterations within the scope of Lessor’s Work and Lessor’s duties under Section 16A hereof, by reason so as to constitute the remaining Premises a complete architectural unit, and Lessee, at Lessee’s cost, shall be obligated to perform all of such acquisition Lessee’s Work and Lessee’s duties under Section 16B and otherwise restore the Premises and Lessee’s Trade Fixtures. C. If twenty-five percent (25%) or condemnation, less of the Premises shall be rendered wholly or substantially unsuitable for the Permitted Useso taken, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying shall cease only as to the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire part so taken as of the date of termination stated in said NoticeTaking Date, and Lessee shall pay rent and other charges up to the Taking Date, with appropriate credit by Lessor (toward the same effect as if that date were next installment of Rent due Lessor) of any Rent or charges paid for a period subsequent to the Fixed Expiration Taking Date. Rent and other charges payable to Lessor shall be reduced in proportion to the amount of the Premises taken. Lessor shall, at its expense, but only to the extent of net proceeds of condemnation received by Lessor, make all necessary repairs or alterations within the scope of Lessor’s Work so as to constitute the remaining Premises a complete architectural unit, and Lessee, at Lessee’s expense, shall be obligated to perform all of Lessee’s Work and otherwise restore the Premises and Lessee’s trade fixtures. D. If more than twenty percent (20%) of (i) the area of that portion of Common Areas serving the office component of the Building, (ii) the Total Rentable Area of the office component of the Building, or (iii) the Premises shall be taken under power of eminent domain, or sold to public authority under the threat or in lieu of such a taking, Lessor may, by notice to Lessee delivered on or before the thirtieth (30th) day following the Taking Date, terminate this lease as of the Taking Date. Rent and other charges shall be paid up to the Taking Date, with an appropriate refund by Lessor of any Rent paid for a period subsequent thereto. E. In the event of any termination of this Lease and the Term pursuant condemnation or taking as hereinbefore provided, whether whole or partial, Lessee shall not be entitled to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as any part of the date award, as damages or otherwise, for such condemnation and Lessor is to receive the full amount of sooner termination and such award. Lessee hereby expressly waives any prepaid portion of the Fixed Rent for right or claim to any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2part thereof. In Although all damages in the event of any condemnation are to belong to Lessor whether such acquisition damages are awarded as compensation for diminution in value of the leasehold or condemnation of all or any part the fee of the Premises, Landlord Lessee shall be entitled have the right to receive claim and recover from the entire award for any such acquisition or condemnationcondemning authority, but shall not from Lessor, such compensation as may be obligated separately awarded or recoverable by Lessee in Lessee’s own right on account of any damage to proceed with reasonable diligence Lessee’s business by reason of /s/ Lessor /s/ Lessee the condemnation and for or on account of any cost or loss to repair which Lessee might be put in removing Lessee’s merchandise, furniture, fixtures, leasehold improvements and restore equipment from the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and A sale by Lessor to any such award. Nothing contained in this Section 12.2 authority having the power of eminent domain, either under threat of condemnation or while condemnation proceedings are pending, shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings taking under the power of eminent domain for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced therebyall purposes under this Section. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 above.

Appears in 3 contracts

Sources: Lease (Local Matters Inc.), Office Lease Agreement (Local Matters Inc.), Office Lease Agreement (Local Matters Inc.)

Eminent Domain. SECTION 12.120.01. If the whole of the Building or the Premises is acquired shall be taken by condemnation or condemned in any other manner for any public or quasi-public use or purpose, this Lease and the Term term and estate hereby granted shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part on such taking (“Date of the Premises is so acquired or condemned thenTaking”), except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, Charges shall be reduced in the proportion which the area prorated and adjusted as of such date. 20.02. If a portion of the part of the Premises so acquired Building or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease so taken and the Term and estate hereby granted, by notifying Condominium Board of Managers shall elect in accordance with the other party in writing of such termination within one hundred twenty (120) days after Declaration not to rebuild the date upon which Tenant receives Notice of vesting of title. In or restore the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as balance of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be givenBuilding, then this Lease and the term and estate hereby granted shall expire terminate as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Datesuch election is made, and the Fixed Rent and Additional Rent hereunder Charges shall be apportioned prorated and adjusted as of such date. Notwithstanding If forty (40%) percent or more of the Premises or any Base Building Elements shall be so taken and the Premises or the remaining area of the Premises, as the case may be, shall no longer be sufficient or suitable, in Tenant’s reasonable judgment, for Tenant to continue the operation of its business, Tenant may, at its option, terminate this Lease by giving Landlord notice to that effect within 90 days after the Date of the Taking. In case of any termination pursuant to this Section 20.02, this Lease shall terminate on the date that such notice from Landlord or Tenant to the other shall be given, and the Fixed Rent and Additional Charges shall be prorated and adjusted as of such termination date, except that with respect to any portion of the Premises taken the Fixed Rent and Additional Charges shall be prorated and adjusted as of the Date of the Taking if earlier. Upon any partial taking of the Premises and this Lease continuing in force as to any part of the Premises, the Fixed Rent and Additional Charges shall be adjusted according to the rentable area remaining. 20.03. The award or payment in connection with any taking shall be payable to Landlord; provided, however, that Tenant shall have the right to make a separate claim for its moving expenses and for any of Tenant’s Property and Alterations taken. 20.04. If the temporary use or occupancy of all or any part of the Premises shall be taken by condemnation or in any other manner for any public or quasi-public use or purpose during the term of this Lease, Tenant shall be entitled, except as hereinafter set forth, to receive that portion of the award or payment for such taking which represents compensation for the use and occupancy of the Premises, for the taking of Tenant’s Property and for moving expenses, and Landlord shall be entitled to receive that portion which represents reimbursement for the cost of restoration of the Premises. This Lease shall be and remain unaffected by such taking and Tenant shall continue to be responsible for all of its obligations hereunder insofar as such obligations are not affected by such taking and shall continue to pay in full the Fixed Rent and Additional Charges when due. If the period of temporary use or occupancy shall extend beyond the Expiration Date of this Lease, that part of the award which represents compensation for the use and occupancy of the Premises (or a part thereof) shall be divided between Landlord and Tenant so that Tenant shall receive so much thereof as represents the period up to and including such Expiration Date and Landlord shall receive so much thereof as represents the period after such Expiration Date. All monies paid as, or as part of, an award for temporary use and occupancy for a period beyond the date to which the Fixed Rent and Additional Charges have been paid shall be received, held and applied by Landlord as a trust fund for payment of the Fixed Rent and Additional Charges becoming due hereunder. 20.05. In the event of a taking of less than the whole of the Building and/or the Land which does not result in termination of this Lease as provided Lease, or in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant the event of a portion taking for a temporary use or occupancy of all or any part of the cost Premises which does not result in a termination of any Maintenance Repair or Requirement Alterations this Lease, after the Condominium Board of Managers shall proceed to repair the remaining parts of the Building and the Premises (other than those parts of the Premises which are deemed Landlord’s property pursuant to Section 12.01 hereof and Tenant’s Property) to substantially their former condition to the extent required by that the same may be feasible (subject to reasonable changes which Landlord and the Condominium Board of Managers shall deem desirable) and so as to constitute complete and rentable Building and Premises, then Tenant, at its expense, and whether or not any award or awards shall be sufficient for the purpose, shall proceed with reasonable diligence to repair the remaining parts of the Premises which are deemed Landlord’s property pursuant to Section 7.1 above12.01 hereof and Tenant’s Property, to substantially their former condition to the extent that the same may be feasible, subject to reasonable changes which shall be deemed Alterations. Notwithstanding anything to the contrary set forth in this Article 20, the portion of any award which is allocable to the repairs which Tenant is obligated to perform pursuant to the preceding sentence shall be paid to Tenant.

Appears in 2 contracts

Sources: Operating Agreement (New York Times Co), Operating Agreement (New York Times Co)

Eminent Domain. SECTION 12.1. 8.2.1 If the whole of the Demised Premises is acquired or condemned for shall be taken by any public or quasi-public use authority under the power of condemnation, eminent domain or purposeexpropriation, this or in the event of a conveyance in lieu thereof, the Lease and the Term shall end cease as of the date possession shall be taken by such authority. 8.2.2 If twenty-five percent (25%) or less of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part Floor Space of the Demised Premises is shall be so acquired taken or condemned thenconveyed, except as hereinafter provided in this Section 12.1, this the Lease and the Term shall continue in effect butcease only with respect to the part so taken or conveyed, if a part as of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, possession shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to taken by such acquisition or condemnation. authority. 8.2.3 If the part of the Premises acquired or condemned contains more than fifty twenty-five percent (5025%) of the rentable square feet Floor Space of the Premises or if, by reason of such acquisition or condemnation, the Demised Premises shall be rendered wholly so taken or substantially unsuitable for conveyed, the Permitted UseLease Term shall cease only with respect to the part so taken or conveyed, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent possession shall be apportioned as of the date of sooner termination taken by such authority, and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant either party shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns right to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord upon notice in writing of such termination within thirty (30) days after the passage such taking of the times periods in subparagraphs (1) and (2) above. possession. 8.2.4 In the event that of any such a Notice taking or conveyance of termination the Demised Premises, or any portion thereof, Tenant shall pay Fixed Minimum Rent and additional rent to the day when possession thereof shall be giventaken by such authority, then this Lease and the term and estate hereby granted shall expire with an appropriate refund by Landlord of such rent as of the date of termination stated may have been paid in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of advance for a period subsequent to such date. Notwithstanding the termination of If this Lease shall continue in effect as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a any portion of the cost Demised Premises not so taken or conveyed, the Fixed Minimum Rent shall be equitably reduced and the other charges shall thereafter be recomputed on the basis of any Maintenance Repair or Requirement Alterations the remaining Floor Space. If this Lease shall so continue, Landlord shall, at its expense, but only to the extent required by Section 7.1 aboveof an equitable proportion of the award or other compensation for the portion taken or conveyed of the Building in which the Demised Premises are located, make all necessary repairs or alterations so as to constitute the remaining Demised Premises a complete architectural and tenantable unit. 8.2.5 All compensation awarded for any such taking or conveyance, whether for the whole or a part of the Demised Premises or otherwise, shall be the property of Landlord, and Tenant hereby assigns to the Landlord all of Tenant's right, title and interest in and to any and all such compensation.

Appears in 2 contracts

Sources: Lease Agreement (Ticketmaster Online Citysearch Inc), Lease Agreement (Citysearch Inc)

Eminent Domain. SECTION 12.1. (a) If the whole of the Building or Premises is acquired condemned or condemned in any other manner taken for any public or quasi-public use or purpose, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Datesuch condemnation and Rent shall be prorated to such date. If only a part less than the whole of the Building or Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1taken, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to unaffected by such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent taking, provided that (50%1) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns right to terminate this lease by notice to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. given within ninety (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (12090) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs taking if twenty percent (120%) or more of the Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (2) hereof, Landlord shall have the Tenant, at Tenant's option, may right to terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination notice to Tenant given within thirty ninety (3090) days after the passage date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall terminate on the thirtieth (30th) day after either such notice. The Rent shall be prorated to the date of termination. If this Lease continues in force upon such partial taking, the Base Rent and Tenant's Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the times periods in subparagraphs Premises and Project. (1b) and (2) above. In the event that such a Notice of termination any taking, partial or whole, all the proceeds of any award, judgment or settlement payable by the condemning authority shall be giventhe exclusive property of Landlord, then this Lease and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the term condemning authority. Tenant, however, shall have the right, to the extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and estate hereby granted shall expire as damage to Tenant's Property. (c) In the event of a partial taking of the date of termination stated Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the cost of any Maintenance Repair Premises as nearly as reasonably practicable to its condition prior to the condemnation or Requirement Alterations taking, but only to the extent required by Section 7.1 aboveof the Work. Tenant shall be responsible, at its sole cost and expense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant's Property.

Appears in 2 contracts

Sources: Office Building Lease (Ampersand Medical Corp), Office Building Lease (Ampersand Medical Corp)

Eminent Domain. SECTION 12.1. (a) If the whole all or any substantial part of the Premises or the Building is acquired or condemned taken for any public or quasi-quasi- public use under governmental law or purposeby right of eminent domain (the Taking), this Lease terminates at Landlord’s election, which ▇▇▇▇▇▇▇▇ has the right to make notwithstanding the divestiture of Landlord’s entire interest in the Building. Tenant has the right to terminate this Lease if the Taking would materially interfere with Tenant’s use and occupancy of the Term shall end as Premises (even if Landlord reconstructs the Premises and Building to the maximum extent practicable in the case of a partial Taking), or, in the case of a partial Taking, if (i) Tenant determines, in Tenant’s reasonable business judgment, that Landlord cannot reasonably be expected to complete, within 150 days from the date of the vesting Taking, any reconstruction of title the Premises, of the Building, or of both that is necessary for ▇▇▇▇▇▇’s use and occupancy of the Premises in accordance with the same effect as provisions of this Lease, or (ii) Landlord, having elected not to terminate the Lease, fails to complete such reconstruction within 150 days after the Taking. (b) The foregoing rights of Landlord and Tenant to terminate this Lease if said date were there is a Taking is subject to the Fixed Expiration Date. If only following notice provisions: Within 30 days after a Taking of all or a substantial part of the Premises or the Building, Landlord must notify Tenant of Landlord’s election to terminate the Lease in accordance with the preceding paragraph. Tenant must notify Landlord of Tenant’s election to terminate the Lease within 30 days after the Taking, or within 30 days after the expiration of the 150-day period given to Landlord to restore the Premises after a partial Taking if this Lease is so acquired not terminated and Landlord has failed to complete such restoration within said 150-day period. Any such termination of the Lease by Landlord or condemned then, except as hereinafter provided in this Section 12.1Tenant is effective no earlier than 30 days after the giving of notice. Unless terminated pursuant to the foregoing provisions, this Lease remains in full force and effect, subject, however to other provisions of this § 7.2. (c) If Landlord does not terminate this Lease after a Taking, or if the Term shall continue in effect but, if Taking effects less than all or a substantial part of the Premises is so acquired or condemnedthe Building, from Landlord must proceed with diligence to establish and after collect all valid claims that arise against the date Taking authority or others and, subject to the then-applicable building codes, zoning ordinances, and other legal requirements, Landlord must proceed with diligence to restore the Premises and the Building, or their remains, as nearly as practicable to their condition before such Taking, at Landlord’s sole expense, subject, however, to the extent of the vesting of title, proceeds from the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area Taking. (d) If any Taking of the Premises or the Building or if Landlord’s restoration of either or both (i) reduces the Usable Area of the Premises, (ii) renders any part of the Premises so acquired unfit for Tenant’s use and occupancy, or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease otherwise materially interferes with Tenant’s use and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part occupancy of the Premises, Landlord shall or (iii) causes a material cessation or reduction in Landlord’s Services under this Lease (even if Tenant continues to use and occupy the Premises), Rent or a just portion of Rent must be entitled to receive abated until the entire award for any Premises or their remains, such acquisition services, or condemnationall of them are restored, but shall be obligated to proceed with reasonable diligence to repair and restore as this Lease requires. In the case of a Taking that reduces the Usable Area of the Premises, at interferes with ▇▇▇▇▇▇’s use and occupancy of the Premises, or materially diminishes Landlord's expense’s Services on a permanent basis, to a condition most suitable just portion of Rent must be abated for the Permitted Use. Tenant shall have no claim against remainder of the Term. (e) Landlord reserves all rights to any damages or the condemning authority for the value compensation payable by reason of any unexpired portion of the Term Taking, and Tenant hereby expressly assigns grants to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in rights to such takingdamages or compensation, and covenants to execute and deliver such further instruments as Landlord requests from time to time in order to obtain such damages or compensation, provided, however, that Tenant reserves for Tenant any award specifically reimbursing Tenant for moving or relocation expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereofother award, the Tenant, at Tenant's option, may terminate this Lease and payment of which does not diminish the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated amounts otherwise payable to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 aboveLandlord.

Appears in 2 contracts

Sources: Office Lease, Office Lease

Eminent Domain. SECTION 12.1. (a) If the whole Premises or any substantial part thereof shall be taken under the power of the Premises is eminent domain or be acquired or condemned for any public or quasi-public use or purpose, this the Lease shall cease and terminate upon the date when the possession of said premises or the part thereof so taken shall be required for such use or purpose and the Term shall end as of rent at the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent current rate shall be apportioned as of the date of sooner termination and termination. (b) If any prepaid portion of the Fixed Rent for any period after such date condemnation proceeding shall be refunded by Landlord instituted in which it is sought to Tenant. SECTION 12.2. In the event of any such acquisition take or condemnation of all or damage any part of the Premises or the building of which the Premises are a part or the land under it, or if the grade of any street or alley adjacent to the Premises is changed in any legal authority and such change of grade makes it necessary or desirable to remodel the Premises to conform to the changed grade, either CRRM or CRNF shall have the right to terminate this Lease after having given written notice of termination to the other Party within 60 days after being notified of the taking of the Premises, Landlord . Such termination shall be entitled to receive effective as of the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore date when physical possession of the Premises, at Landlord's expense, to a condition most suitable for applicable portion of the Permitted Use. Tenant shall have no claim against Landlord or Premises is taken by the condemning authority for and the value of any unexpired portion of rent at the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 then current rate shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire apportioned as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, termination. (c) If there is a partial taking and the Fixed Rent Premises is left untenantable or CRNF’s access or parking are materially and Additional Rent hereunder adversely affected by such partial taking and CRNF cannot reasonably operated because of such taking, CRNF shall have the right to terminate this Lease after having given written notice of termination to CRRM within 60 days after CRNF is notified of the taking of the Premises. Such termination shall be effective as of the date when physical possession of the applicable portion of the Premises is taken by the condemning authority and the rent at the then current rate shall be apportioned as of such date. Notwithstanding the termination date of termination. (d) If there is a partial taking which does not affect CRNF’s ability to operate within the Premises, the rent payable under this Lease as provided in this Subsection 12.3(A) Landlord shall will be obligated abated by an amount allocable to reimburse to Tenant a the portion of the Premises which was so taken or sold, and CRRM will, at CRRM’s sole cost of any Maintenance Repair or Requirement Alterations and expense, promptly restore and reconstruct the Premises to substantially its former condition to the extent required the same is feasible. (e) In the event this Lease is terminated under Sections 21(a), (b) or (c), no money or other consideration shall be payable by CRRM or CRNF for the right of termination and CRNF shall have no right to share in the condemnation award or in any judgment for termination, and CRNF shall have no right to share in the condemnation award or in any judgment for damages caused by the taking or the change of grade. Nothing in this Section 7.1 above21(e) shall preclude any award being made to CRNF for loss of business or depreciation to and cost of removal of equipment or fixtures.

Appears in 2 contracts

Sources: Master Service Agreement (CVR Partners, Lp), Master Service Agreement (CVR Energy Inc)

Eminent Domain. SECTION 12.1. 19.1 If the whole of the Real Property or the Building or the Premises is shall be acquired or condemned by eminent domain for any public or quasi-public use or purpose, this Lease and the Term shall end terminate as of the date of the vesting or acquisition of title in the condemning authority with the same effect as if said date were the Fixed Expiration Date. 19.2 If less than the whole but more than 50% of the premises or more than 25% of the Building (even if the Premises are unaffected) or such portion of the Common Facilities as shall render the Premises or the Building untenantable should be so acquired or condemned, Landlord shall have the option to terminate this Lease by notice to Tenant given within 90 days of such taking. If more than 25% of the Premises is taken or if more than 50% of the Building (even if the Premises are unaffected) or such portion of the Common Facilities as shall render the Premises or the Building untenantable should be so acquired or condemned, Tenant shall have the option to terminate this Lease by notice to Landlord given within 90 days of such taking. In the event that a notice of termination is given as hereinabove set forth, this Lease shall terminate as of the date of vesting or acquisition of title in the condemning authority with the same effect as if said date were the Expiration Date. If only a part (i) neither Landlord nor Tenant shall exercise their respective options to terminate this Lease as hereinabove set forth, or (ii) some lesser portion of the Premises is so acquired or condemned thenthe Building, except as hereinafter provided in this which does not give rise to a right to terminate pursuant to Section 12.119.2, this Lease and the Term shall continue in effect but, if a part of the Premises is should be so acquired or condemned, this Lease shall continue in force and effect but, from and after the date of the vesting of title, the Fixed Basic Rent and Additional Rent, if any, payable hereunder during the unexpired portion of this Lease shall be reduced in proportion to the proportion which the area reduction of the Premises Area so taken and any Additional Rent payable pursuant to Article VI and Article VII shall be adjusted to reflect the diminution of the Premises and/or the Building, as the case may be. 19.3 Following a partial condemnation, and provided this Lease is not terminated as provided in Section 19.2, Landlord shall make all necessary repairs and alterations within the scope of Landlord’s Work necessary to make the Premises an architectural whole, but Landlord shall not be obligated to expend for such repairs any amount in excess of the condemnation proceeds received by Landlord and made available by any Superior Lessor or Superior Mortgagee as a result of such taking or condemnation. Further, Landlord will proceed at the sole cost and expense of Tenant (except to the extent Landlord receives any portion of an award for the taking of Tenant’s improvements) to make all necessary repairs and alterations to Tenant’s Work, and any additional Improvements made by Tenant during the Term necessary to restore the Premises to its condition immediately prior to such taking, to the extent practicable. 19.4 The proceeds of any condemnation award whether for the whole or a part of the Premises, shall be the property of Landlord, whether such award is compensation for damages to Landlord’s or Tenant’s interest in the Premises, and Tenant hereby assigns all of its interest in any such award to Landlord; provided, however, that Landlord shall have no interest in any award made to Tenant for loss of business, relocation expenses, or for the taking of Tenant’s Property if a separate award for such items is made to Tenant. 19.5 If the temporary use or occupancy of all or part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly condemned or substantially unsuitable taken for any public or quasi-public use or purpose during the Permitted UseTerm, then either Landlord or Tenant may terminate this Lease and the Term shall be and estate hereby granted, remain unaffected by notifying such condemnation or taking and Tenant shall continue responsible for all of its obligations hereunder (except to the other party in writing extent prevented from so doing by reason of such termination within one hundred twenty (120condemnation or taking) days after and it shall continue to pay the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated Rent in said Notice, with the same effect as if that date were the Fixed Expiration Datefull. In the event of any temporary condemnation or taking, Tenant shall be entitled to appear, claim, prove and receive the entire award unless the period of temporary use or occupancy extends beyond the Expiration Date or date of earlier termination of this Lease and the Term pursuant to the provisions of this Section 12.1Lease, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the in which event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to appear, claim, prove and receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore as represents the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value cost of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after and the physical taking balance of a portion any such award shall be apportioned between Landlord and Tenant as of the Premises; or (2) Landlord fails complete all repairsExpiration Date or date of earlier termination, reconstruction At the termination of such occupancy prior to the Expiration Date, Tenant, at its own expense, will restore the Premises as nearly as possible to their condition prior to the condemnation or restoration taking. Notwithstanding the foregoing, any lump sum award received by Tenant as compensation for temporary use and occupancy of the Premises within one hundred twenty (120) days after shall be delivered to and held by Landlord in trust for the date making of such physical taking, then, as rent payments. The rights and interest of Landlord and Tenant to any award received or receivable with respect to a result condemnation or taking for temporary use or occupancy shall be in all other respects governed by the applicable provisions of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Superior Lease and the term Superior Mortgage and estate hereby granted, by notifying in the Landlord in writing event of such termination within thirty (30) days after any conflict between the passage terms of this Section and of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Superior Lease and the term and estate hereby granted shall expire as Superior Mortgage, those of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, Superior Lease and the Fixed Rent and Additional Rent hereunder Superior Mortgage shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 abovegovern.

Appears in 2 contracts

Sources: Lease Agreement (Cerecor Inc.), Lease Agreement (Cerecor Inc.)

Eminent Domain. SECTION 12.1. a. If the whole all or any part of the Premises is acquired or condemned for are taken by any public or quasi-public use authority under the power of eminent domain, or purposeany agreement in lieu thereof (a "taking"), this Lease and shall terminate as to the Term shall end portion of the Premises taken effective as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Datetaking. If only a part portion of the Premises is so acquired or condemned thentaken, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and as to the Term and estate hereby granted, by notifying remainder of the Premises upon written notice to the other party in writing of such termination within one hundred twenty ninety (12090) days after the date upon which Tenant receives Notice of vesting of title. In the event taking; provided, however, that such Notice of termination shall be given, then Tenant's right to terminate this Lease and is conditioned upon the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid remaining portion of the Fixed Rent for any period after Premises being of Such size or configuration that such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part remaining portion of the Premises, Premises is unusable or uneconomical for Tenant's business. Landlord shall be entitled to receive the entire award for all compensation, damages, income, rent awards and interest thereon whatsoever which may be paid or made in connection with any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair taking and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning any governmental authority for the value of any unexpired portion term of this Lease or of any of the Term and Tenant hereby expressly assigns to Landlord all of its right improvements or Alterations in and to any such award. Nothing contained in this Section 12.2 the Premises; provided, however, that the foregoing shall be deemed to prevent not prohibit Tenant from making prosecuting a separate claim in any condemnation proceedings against the taking authority for the value of any an amount separately designated for Tenant's Property included in such takingrelocation expenses or the interruption of or damage to Tenant's business or as compensation for Tenant's personal property, and trade fixtures, Alterations or other improvements paid for any moving expenses, by Tenant so long as any award to Tenant will not reduce the award to Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in . In the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of a partial taking of the Premises within sixty (60) days after which does not result in a termination of this Lease, the physical taking of a portion Monthly Rent and Additional Rent under Paragraphs 5 and 7 hereunder shall be equitably reduced. If all or any part of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of Real Property other than the Premises is taken, Landlord may terminate this Lease upon written notice to Tenant given within one hundred twenty ninety (12090) days after the date of such physical taking. b. Notwithstanding the foregoing, thenif all or any portion of the Premises is taken for a period of time ending prior to the end of the term of this Lease, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease shall remain in full force and the term effect and estate hereby grantedTenant shall continue to pay all rent and to perform all of its obligations under this Lease; provided, by notifying the Landlord however, that Tenant shall be entitled to all compensation, damages, income, rent awards and interest thereon that is paid or made in writing of connection with such termination within thirty (30) days after the passage temporary taking of the times periods Premises (or portion thereof), except that any such compensation in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as excess of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent rent or other amounts payable to Landlord hereunder shall be apportioned promptly paid over to Landlord as received. Landlord and Tenant each hereby waive the provisions of such date. Notwithstanding California Code of Civil Procedure Section 1265.130 and any other applicable existing or future Legal Requirement providing for, or allowing either party to petition the courts of the state in which the Real Property is located for, a termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant upon a portion partial taking of the cost of any Maintenance Repair or Requirement Alterations to Premises and/or the extent required by Section 7.1 aboveBuilding.

Appears in 2 contracts

Sources: Office Lease (Digital Island Inc), Office Lease (Digital Island Inc)

Eminent Domain. SECTION 12.1. 20.1 If the whole of the Premises Building is acquired lawfully taken by condemnation or condemned in any other manner for any public or quasi-public use or purpose, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything Rent shall be prorated to such date. If less than the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration whole of the Building or Premises is so taken, this Lease shall be unaffected by such taking, provided that (i) Tenant shall have the right to terminate this Lease by notice to Landlord given within sixty ninety (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (12090) days after the date of such physical taking if in Tenant’s reasonable opinion, the remaining area of the Building or Premises is not reasonably sufficient for Tenant to continue the unimpaired operation of its business in a manner similar to that conducted immediately prior to the taking, then, as a result of any circumstances described in subparagraphs and (1ii) or (2) hereof, Landlord shall have the Tenant, at Tenant's option, may right to terminate this Lease and by notice to Tenant given within ninety (90) days after the term and estate hereby granted, by notifying the Landlord in writing date of such termination taking if more than 20% of the Building is taken. If either Landlord or Tenant so elects to terminate this Lease, this Lease shall terminate on the thirtieth (30th) day after either such notice. Notwithstanding anything contained herein to the contrary, if the restoration of the Premises, or the Building is not commenced within thirty (30) days after the passage of Landlord’s receipt of the times periods in subparagraphs (1) and (2) abovecondemnation award or is not completed within 365 days from the Condemnation Date, then Tenant may terminate this Lease at any time before Landlord completes the restoration. In the event that such a Notice of termination The Rent shall be given, then this Lease and the term and estate hereby granted shall expire as of prorated to the date of termination stated and the Base Rent and Tenant’s Pro Rata Share of Additional Rent shall be equitably adjusted according to the remaining Rentable Area of the Premises and Building. If this Lease continues in said Notice with force upon such partial taking, the same effect as if that date were Base Rent and Tenant’s Pro Rata Share of Additional Rent shall be equitably adjusted according to the Fixed Expiration Dateremaining Rentable Area of the Premises and Building. 20.2 In the event of any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be the exclusive property of Landlord, and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the Fixed Rent condemning authority. Tenant, however, shall have the right, to the extent that Landlord’s award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and Additional Rent hereunder shall be apportioned as damage to Tenant’s Property. 20.3 In the event of such date. Notwithstanding a partial taking of the Premises or Building Common Areas which does not result in a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the cost of any Maintenance Repair or Requirement Alterations Premises and Building Common Areas as nearly as practicable to their condition prior to the extent required by Section 7.1 abovecondemnation or taking, including the Tenant Improvements. Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of Tenant’s Property.

Appears in 2 contracts

Sources: Office Building Lease, Office Building Lease (Avalara Inc)

Eminent Domain. SECTION 12.1. 12.1 If (a) all of the whole floor area of the Premises is or so much thereof as shall render the Premises untenantable or, in Tenant's reasonable judgment, unsuitable for the conduct of Tenant's business as such business was being conducted immediately prior thereto, shall be acquired or condemned for any public or quasi-public use or purpose, or (b) a portion of the Property, not including the Premises, shall be so acquired or condemned, but by reason of such acquisition or condemnation, Tenant no longer has means of access to the Premises, then this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1Article 12, the Fixed Rent or and Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent or Additional Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. 12.2 In the event of any such acquisition or condemnation of all or any part of the PremisesProperty, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term or Tenant Alterations, and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the then value of any Tenant's Property included in such taking, taking and for any moving expenses, so long as provided such award shall be made by the condemning authority in addition to, and shall not result in a reduction of, the award made by it to Landlord's award is not reduced thereby. SECTION 12.3 If only a part of the Property shall be so acquired or condemned and the remaining portion thereof is reasonably feasible (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1reasonable opinion of Tenant) to permit the Landlord fails Tenant to commence any repairscontinue its operation as a Mission Critical Data Center, reconstruction or restoration then, subject to Section 12.1, this Lease and the Term shall continue in force and effect. If a part of the Premises within sixty (60) days after shall be so acquired or condemned and this Lease and the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairsTerm shall not be terminated, reconstruction or restoration Landlord, at Landlord's expense, shall restore that part of the Premises within one hundred twenty (120) days not so acquired or condemned so as to constitute tenantable Premises. From and after the date of such physical takingthe vesting of title, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding reduced in the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion proportion which the area of the cost part of any Maintenance Repair the Premises so acquired or Requirement Alterations condemned bears to the extent required by Section 7.1 abovetotal area of the Premises immediately prior to such acquisition or condemnation.

Appears in 2 contracts

Sources: Lease Agreement (Athenahealth Inc), Lease Agreement (Athenahealth Inc)

Eminent Domain. SECTION 12.120.01. If the whole of the Building or the Premises is acquired shall be taken by condemnation or condemned in any other manner for any public or quasi-public use or purpose, this Lease and the Term term and estate hereby granted shall end terminate as of the date of the vesting of title with on such taking (herein called the same effect as if said date were “Date of the Taking”), and the Fixed Expiration DateRent and Additional Charges shall be prorated and adjusted as of such date. 20.02. If only any Part of the Building or the Land shall be so taken, this Lease shall be unaffected by such taking, except that (a) if more than fifty (50%) percent of the Building or the Land shall be so taken, then provided that concurrently with such termination Landlord terminates leases covering at least seventy-five (75%) percent of the rentable square footage of the Building then occupied by tenants, Landlord may, at its option, terminate this Lease by giving Tenant notice to that effect within sixty (60) days after the Date of the Taking, and (b) if a material portion of the rentable area of the Premises shall be so taken or if Tenant’s access to the Building or the Premises is denied or materially interfered with or if any of the services which Landlord provides shall be reduced and, in any such case, the remaining rentable area of the Premises shall not be reasonably sufficient for Tenant to continue feasible operation of its business, Tenant may terminate this Lease by giving Landlord notice to that effect within sixty (60) days after the Date of the Taking. This Lease shall terminate on the date which is thirty (30) days after the date that such notice from Landlord or Tenant to the other shall be given, and the Fixed Rent and Additional Charges under Article 3 shall be prorated and adjusted as of the Date of the Taking. Upon such partial taking and this Lease continuing in force as to any part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of titlePremises, the Fixed Rent and Additional Rent, if any, Tenant’s Proportionate Share shall be reduced and Tenant’s Tax Payments and Tenant’s Operating Payments shall be adjusted in the proportion which that the area of the part of the Premises so acquired or condemned taken bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to TenantPremises. SECTION 12.220.03. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award or payment in connection with any taking without reduction therefrom for any such acquisition estate vested in Tenant by this Lease or condemnation, but shall be obligated any value attributable to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term term of this Lease and Tenant shall receive no part of such award except as hereinafter expressly provided in this Article. Tenant hereby expressly assigns to Landlord all of its right right, title and interest in and to every such award or payment and waives any such awardright to the value of the unexpired portion of the term of this Lease. Nothing contained in this Section 12.2 herein provided shall be deemed to prevent preclude Tenant from making a separate claim in any condemnation proceedings for the cost of Tenant’s moving expenses and the value of any fixtures, alterations and improvements installed by Tenant in the Premises and paid for by Tenant's . 20.04. If the temporary use or occupancy of all or any part of the Premises shall be taken by condemnation or in any other manner for any public or quasi-public use or purpose during the term of this Lease, Tenant shall be entitled, except as hereinafter set forth, to receive that portion of the award or payment for such taking which represents compensation for the taking of Tenant’s Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything and Landlord shall be entitled to receive that portion which represents reimbursement for the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or cost of restoration of the Premises within sixty (60) days after and compensation for the physical taking of a portion use and occupancy of the Premises; or (2) Landlord fails complete . Except as hereinafter provided, this Lease shall be and remain unaffected by such taking and Tenant shall continue to be responsible for all repairs, reconstruction or restoration of its obligations hereunder insofar as such obligations are not affected by such taking. During the Premises within one hundred twenty (120) days after the date period of such physical temporary taking, thenall Fixed Rent and Additional Charges under this Lease shall be fully abated. If the period of temporary use or occupancy described herein shall extend for a period of fourteen (14) consecutive months, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenantthen Tenant may, at Tenant's its option, may terminate this Lease and the term and estate hereby granted, by notifying the giving notice to Landlord in writing of such termination to such-effect within thirty (30) days after following the passage expiration of the times periods in subparagraphs such fourteen (114) month period and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire terminate effective as of the date last day of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, such thirty (30) day period and the Fixed Rent and Additional Rent hereunder Charges under Article 3 shall be apportioned prorated and adjusted as of such date. 20.05. Notwithstanding In the event of a taking of less than the whole of the Building and/or the Land which does not result in termination of this Lease Lease, or in the event of a taking for a temporary use or occupancy of all or any part of the Premises which does not result in a termination of this Lease, (a) Landlord, at its expense, and whether or not any award or awards shall be sufficient for the purpose, shall proceed with due diligence to repair the remaining parts of the Building and the Premises (other than those parts of the Premises which are deemed Landlord’s property Pursuant to Section 12.01 hereof and Tenant’s Property) to substantially their former condition to the extent that the same may be feasible and so as provided to constitute a complete and rentable Building and Premises of substantially the same character, quality and appearance as the Building and the Premises prior to the taking and (b) Tenant, at its expense, shall proceed with reasonable diligence to repair the remaining parts of the Premises which are deemed Landlord’s Property pursuant to Section 12.01 hereof, to substantially their former condition to the extent that the same may be feasible, subject to reasonable changes which shall be deemed Alterations; provided, however, in this Subsection 12.3(A) Landlord no event, shall Tenant be obligated to reimburse to Tenant a portion expend any money in excess of the cost amount of any Maintenance Repair or Requirement Alterations to the extent required award received by Section 7.1 aboveTenant in connection with such taking.

Appears in 2 contracts

Sources: Lease (Ambac Financial Group Inc), Settlement Agreement (Ambac Financial Group Inc)

Eminent Domain. SECTION 12.1. a. If the whole all or any part of the Premises is acquired or condemned for taken by any public or quasi-public use authority under the power of eminent domain, or purposeany agreement in lieu thereof (a “taking”), this Lease and shall terminate as to the Term shall end portion of the Premises taken effective as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Datetaking. If only a part portion of the Premises is so acquired or condemned thentaken, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and as to the Term and estate hereby granted, by notifying remainder of the Premises upon written notice to the other party in writing of such termination within one hundred twenty ninety (12090) days after the date upon which Tenant receives Notice of vesting of title. In the event taking; provided, however, that such Notice of termination shall be given, then Tenant’s right to terminate this Lease and is conditioned upon the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid remaining portion of the Fixed Rent for any period after Premises being of such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any size or configuration that such acquisition or condemnation of all or any part remaining portion of the Premises, Premises is unusable or uneconomical for Tenant’s business. Landlord shall be entitled to receive the entire award for all compensation, damages, income, rent awards and interest thereon whatsoever which may be paid or made in connection with any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair taking and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning any governmental authority for the value of any unexpired portion term of this Lease or of any of the Term and Tenant hereby expressly assigns to Landlord all of its right improvements or Alterations in and to any such award. Nothing contained in this Section 12.2 the Premises; provided, however, that the foregoing shall be deemed to prevent not prohibit Tenant from making prosecuting a separate claim in any condemnation proceedings against the taking authority for an amount separately designated for Tenant’s relocation expenses or the value interruption of any or damage to Tenant's Property included in such taking’s business or as compensation for Tenant’s personal property, and trade fixtures, Alterations or other improvements paid for any moving expenses, by Tenant so long as any award to Tenant will not reduce the award to Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in . In the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of a partial taking of the Premises within sixty (60) days after which does not result in a termination of this Lease, the physical taking of a portion Monthly Rent and Additional Rent under Paragraphs 5 and 7 hereunder shall be equitably reduced. If all or any material part of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of Real Property other than the Premises is taken, Landlord may terminate this Lease upon written notice to Tenant given within one hundred twenty ninety (12090) days after the date of such physical taking. b. Notwithstanding the foregoing, then, as if all or any portion of the Premises is taken for a result period of any circumstances described in subparagraphs time of one (1) year or (2) hereofless ending prior to the end of the term of this Lease, the Tenant, at Tenant's option, may terminate this Lease shall remain in full force and the term effect and estate hereby grantedTenant shall continue to pay all rent and to perform all of its obligations under this Lease; provided, by notifying the Landlord however, that Tenant shall be entitled to all compensation, damages, income, rent awards and interest thereon that is paid or made in writing of connection with such termination within thirty (30) days after the passage temporary taking of the times periods Premises (or portion thereof), except that any such compensation in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as excess of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent rent or other amounts payable to Landlord hereunder shall be apportioned promptly paid over to Landlord as received. Landlord and Tenant each hereby waive the provisions of such date. Notwithstanding any applicable existing or future Legal Requirement providing for, or allowing either party to petition the courts of the state in which the Real Property is located for, a termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant upon a portion partial taking of the cost of any Maintenance Repair or Requirement Alterations to Premises and/or the extent required by Section 7.1 aboveBuilding.

Appears in 2 contracts

Sources: Office Lease (Salt Blockchain Inc.), Office Lease (2U, Inc.)

Eminent Domain. SECTION 12.1. If the whole of the Premises is acquired or condemned for any public or quasi-public use or purpose, this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title1. In the event that such Notice 50% or more of termination the total number of square feet in the Demised Premises shall be givencondemned or taken for public or quasi public use, then the Lessee may elect to terminate this Lease and Lease. If the Term and estate hereby granted shall expire as of the date of termination stated in said NoticeLessee elects to terminate this Lease, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant it must exercise its right to terminate by giving written notice to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination Lessor within thirty (30) days after the passage nature and extent of the times periods taking have been finally determined. If the Lessee elects to terminate this Lease as provided herein, the Lessee shall also notify the Lessor of the date of termination which date shall be not earlier than thirty (30) days after the Lessee has notified the Lessor of its election to terminate; provided, however, that this Lease shall terminate on the date of the taking of the date if the taking falls on a date prior to the date of termination as designated by the Lessee. If the Lessee does not elect to terminate this Lease within the thirty (30) day period, this Lease shall continue in subparagraphs (1) full force and (effect except that Base Rent and additional rent shall be reduced pursuant to Section 2 hereof. SECTION 2) above. In the event that such a Notice any portion of termination shall be given, then the Demised Premises is taken by condemnation and this Lease remains in full force and the term and estate hereby granted shall expire as of effect, on the date of termination stated the taking, the Base Rent and all additional rent shall be reduced by an amount that is in said Notice with the same effect as if that date were ratio to the Fixed Expiration Date, and the Fixed Base Rent and Additional Rent hereunder as the total number of square feet in the Demised Premises taken bears to the total number of square feet in the Demised Premises immediately prior to the date of the taking. SECTION 3. The Lessor shall be apportioned as of entitled to the entire award resulting from any such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a condemnation or taking, including, without limitation, any portion of the cost award attributable to the value of the leasehold estate created by this Lease, provided, however, that the Lessee shall be entitled to any portion of any Maintenance Repair or Requirement Alterations award attributable to the extent required by Section 7.1 aboveLessee's personal property or fixtures, or specifically attributable to its relocation expenses or the interruption or damage to its business.

Appears in 2 contracts

Sources: Lease (Digitalnet Holdings Inc), Lease (Digitalnet Holdings Inc)

Eminent Domain. SECTION 12.1. (a) If the whole of the Premises Building is acquired taken by condemnation or condemned in any other manner for any public or quasi-public use or purpose, this Lease and the Term shall end terminate as of the date of the vesting of title with in the same effect condemning authority (which date is hereinafter sometimes referred to as if said the "date were of taking"), and the Fixed Expiration DateRent shall be prorated to such date. If only a any part of the Premises Building or Land is so acquired or condemned then, except as hereinafter provided in this Section 12.1taken, this Lease and the Term shall continue in effect butbe unaffected by such taking, if a part of the Premises is so acquired or condemned, from and except that (i) Landlord may terminate this Lease by notice to Tenant within ninety (90) days after the date of the vesting taking, and (ii) if 20% or more of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable taken and the remaining area of the Premises, in Tenant's reasonable estimation, shall not be reasonably sufficient for the Permitted UseTenant to continue operation of its business, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination notice to Landlord within one hundred twenty ninety (12090) days after the date upon of taking. This Lease shall terminate on the 30th day after any such notice by Landlord or Tenant, by which date Tenant receives Notice of vesting of title. In shall vacate and surrender the event that such Notice of termination Premises to Landlord, and in which case the Rent shall be given, then prorated to such date as Tenant vacates the Premises by reason of said taking. If this Lease continues in force upon such partial taking, the Rent and Tenant's Proportionate Share shall be equitably adjusted according to the Term and estate hereby granted shall expire as rentable area of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. Premises and Building remaining after such partial taking. (b) In the event of any termination of this Lease and taking as set forth in the Term pursuant to the provisions of this Section 12.1immediately preceding subsection, the Fixed Rent or Additional Rent shall be apportioned as all of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event proceeds of any such acquisition award, judgment or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or settlement payable by the condemning authority other than for damage to Tenant's Property shall be and remain the value sole and exclusive property of any unexpired portion of the Term Landlord, and Tenant hereby expressly assigns to Landlord all of its right right, title and interest in and to any such award, judgment or settlement to Landlord. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's optionhowever, may terminate this Lease and shall have the term and estate hereby grantedright, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required that the same shall not reduce or prejudice any award, judgment or settlement to Landlord, to claim from the condemning authority, but not from Landlord, such compensation as may be recoverable by Section 7.1 aboveTenant in its own right for moving expenses and damage to Tenant's Property.

Appears in 2 contracts

Sources: Sublease Agreement (Accord Networks LTD), Sublease Agreement (Accord Networks LTD)

Eminent Domain. SECTION 12.1. Section 11.1 If the whole of the Real Property, the Building or the Premises is shall be acquired or condemned for any public or quasi-public use or purpose, this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Real Property and not the entire Premises is shall be so acquired or condemned then, (1) except as hereinafter provided in this Section 12.111.1, this Lease and the Term shall continue in force and effect but, if a part of the Premises is included in the part of the Real Property so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, the Space Factor shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If condemnation and Tenant’s Share shall be redetermined based upon the part proportion in which the ratio between the rentable area of the Premises acquired remaining after such acquisition or condemned contains more than condemnation bears to the rentable area of the Building remaining after such acquisition or condemnation; (2) whether or not the Premises shall be affected thereby, Landlord, at Landlord’s option, may give to Tenant, within sixty (60) days next following the date upon which Landlord shall have received notice of vesting of title, a ninety (90) days’ notice of termination of this Lease if Landlord shall elect to terminate leases (including this Lease), affecting at least fifty percent (50%) of the rentable square feet area of the Building; and (3) if the part of the Real Property so acquired or condemned shall contain more than fifteen percent (15%) of the total area of the Premises immediately prior to such acquisition or condemnation, or if, by reason of such acquisition or condemnation, Tenant no longer has reasonable means of access to the Premises or if, in Tenant’s reasonable opinion, the portion of the Premises remaining shall be rendered wholly inadequate for Tenant to conduct its business at the Premises or substantially unsuitable for if a temporary taking of the Permitted UsePremises is in excess of one hundred eighty (180) days, then either Tenant, at Tenant’s option, may give to Landlord, within sixty (60) days next following the date upon which Tenant shall have received notice of vesting of title, a thirty (30) days’ notice of termination of this Lease. If any such thirty (30) days’ notice of termination is given, by Landlord or Tenant may terminate Tenant, this Lease and the Term shall come to an end and estate hereby granted, by notifying expire upon the other party in writing expiration of such termination within one hundred twenty said thirty (12030) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that the date of expiration of said thirty (30) days were the Fixed Expiration Date. If a part of the Premises shall be so acquired or condemned and this Lease and the Term shall not be terminated pursuant to the foregoing provisions of this Section 11.1, Landlord, at Landlord’s expense, shall restore that part of the Premises not so acquired or condemned to a self-contained rental unit to a condition similar to that on the Commencement Date exclusive of Tenant’s Alterations, except that if such acquisition or condemnation occurs prior to completion of the Initial Alterations, Landlord shall only be required to restore that part of the Premises not so acquired or condemned to a self-contained rental unit exclusive of Tenant’s Alterations. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.111.1, the Fixed Rent or Additional Rent shall be apportioned as of the earlier of (i) the date of sooner termination or (ii) vesting of title, and any prepaid portion of the Fixed Rent or Escalation Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. Section 11.2 In the event of any such acquisition or condemnation of all or any part of the PremisesReal Property, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 11.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the then value of any Tenant's ’s Property included in such taking, and for any moving expenses, so long as provided that same does not reduce any award or payment to Landlord's award is not reduced thereby. Section 11.3 If the whole or any part of the Premises shall be acquired or condemned temporarily (Anot to exceed one hundred eighty (180) Notwithstanding anything days) during the Term for any public or quasi-public use or purpose, Tenant shall give prompt notice thereof to Landlord and the contrary contained Term shall not be reduced or affected in Sections 12.1 any way and 12.2 aboveTenant shall continue to pay in full all items of Rental payable by Tenant hereunder without reduction or abatement, in the event and Tenant shall be entitled to receive for itself any award or payments for such use, provided, however, that: (1i) if the acquisition or condemnation is for a period not extending beyond the Term and if such award or payment is made less frequently than in monthly installments, the same shall be paid to and held by Landlord fails as a fund which Landlord shall apply from time to commence any repairstime to the Rental payable by Tenant hereunder, reconstruction except that, if by reason of such acquisition or condemnation changes or alterations are required to be made to the Premises which would necessitate an expenditure to restore the Premises, then a portion of such award or payment reasonably considered by Landlord as appropriate to cover the expenses of the restoration shall be retained by Landlord, without application as aforesaid, and applied toward the restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premisesas provided in Section 11.1 hereof; or (2ii) if the acquisition or condemnation is for a period extending beyond the Term, such award or payment shall be apportioned between Landlord fails complete all repairsand Tenant as of the Expiration Date; Tenant’s share thereof, reconstruction if paid less frequently than in monthly installments, shall be paid to Landlord and applied in accordance with the provisions of clause (i) above, provided, however, that the amount of any award or payment allowed or retained for restoration of the Premises within one hundred twenty (120) days after shall remain the date property of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate Landlord if this Lease and shall expire prior to the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage restoration of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 abovePremises.

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement (National Financial Partners Corp)

Eminent Domain. SECTION 12.1. a. If the whole of the Building or Premises is acquired lawfully taken by condemnation or condemned in any other manner for any public or quasi-public use or purpose, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expensesRent shall be prorated to such date. If less than the whole of the Building or Premises is so taken, so long as Landlord's award is not reduced thereby.this Lease shall be unaffected by such taking, provided that (Ai) Notwithstanding anything Tenant shall have the right to the contrary contained in Sections 12.1 and 12.2 above, in the event that: terminate this Lease by notice to Landlord given within ninety (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (12090) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs taking if twenty percent (120%) or more of the Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (2ii) hereof, Landlord shall have the Tenant, at Tenant's option, may right to terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination notice to Tenant given within thirty ninety (3090) days after the passage date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall terminate on the thirtieth (30th) day after either such notice. The Rent shall be prorated to the date of termination. If this Lease continues in force upon such partial taking, the Base Rent and Tenant's Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the times periods in subparagraphs (1) Premises and (2) above. Project. b. In the event that such a Notice of termination any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be giventhe exclusive property of Landlord, then this Lease and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the term condemning authority. Tenant, however, shall have the right, to the extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and estate hereby granted shall expire as damage to Tenant's personal property. c. In the event of a partial taking of the date of termination stated Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the cost of any Maintenance Repair Premises as nearly as practicable to its condition prior to the condemnation or Requirement Alterations taking, but only to the extent required by Section 7.1 aboveof Building Standard Work. Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant's Property.

Appears in 1 contract

Sources: Commercial Office Building Lease

Eminent Domain. SECTION 12.1. If 32.01 In the whole event that all of the Building, all of the Unit or all of the Premises is acquired shall be lawfully condemned or condemned taken in any manner for any public or quasi-public use or purposeuse, this Lease and the Term and estate hereby granted shall end forthwith cease and terminate as of the date of the vesting of title with title. In the same effect as if said date were the Fixed Expiration Date. If only event that a part of the Premises is shall be so acquired condemned or condemned then, except as hereinafter provided taken or in this Section 12.1, this Lease and the Term shall continue in effect but, if event that a part of the Premises is so acquired or condemned, from and after Building and/or the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the Unit but no part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly so condemned or substantially unsuitable for the Permitted Use, taken then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, granted as of the date of such vesting of title by notifying the other party Tenant in writing of such termination within one hundred twenty sixty (12060) days after following the date upon on which Tenant receives Notice Landlord shall have received notice of vesting of title. If Landlord does not elect to terminate this Lease as aforesaid, this Lease shall be and remain unaffected thereby, except that, if a part of the Premises shall have been condemned or taken, effective as of the date of vesting of title, Fixed Rent and Additional Rent under Article 1 shall be abated in an amount thereof apportioned according to the area of the Premises so condemned or taken. 32.02 In the event that such Notice of its termination shall be givenin any of the cases hereinbefore provided, then this Lease and the Term and estate hereby granted shall expire as of the date of such termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. , and Fixed Rent and Additional Rent payable hereunder shall be apportioned as of such date. 32.03 In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent condemnation or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation taking hereinbefore mentioned of all or any a part of the Building, the Unit or the Premises, Landlord shall be entitled to receive the entire award for of the condemnation proceeding, including any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority award made for the value of any unexpired portion of the Term and estate vested by this Lease in Tenant. Tenant hereby expressly assigns to Landlord any and all right, title and interest of its right Tenant now or hereafter arising in and or to any such award or any part thereof, and Tenant shall be entitled to receive no part of such award. Nothing contained in this Section 12.2 Notwithstanding the foregoing, Tenant shall be deemed have the right to prevent Tenant from making enter a separate claim in for the unamortized costs of any condemnation proceedings for Tenant Changes, moving expenses and the value of any Tenant's Property included fixtures, equipment, improvements and appurtenances which Tenant shall be permitted to remove from the Premises pursuant to Section 18.01 and Section 29.01, provided, however, any such award shall not result in such taking, and for any moving expenses, so long as a reduction of Landlord's award is not reduced thereby’s award. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in 32.04 In the event that: (1) of any taking of less than the Landlord fails to commence any repairs, reconstruction or restoration whole of the Premises within sixty (60) days after which does not result in a termination of this Lease, Landlord shall proceed with reasonable diligence to repair, alter and restore the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration remaining parts of the Premises within one hundred twenty (120exclusive of Tenant Changes and Tenant Property) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations substantially their former condition to the extent required by Section 7.1 abovethat the same may be feasible and may be accomplished without expenditure of funds in excess of the proceeds awarded for purposes of such work.

Appears in 1 contract

Sources: Lease Agreement

Eminent Domain. SECTION 12.1. a. If the whole of the Building or Premises is acquired lawfully taken by condemnation or condemned in any other manner for any public or quasi-public use or purpose, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything Rent shall be prorated to such date. If less than the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration whole of the Building or Premises is so taken, this Lease shall be unaffected by such taking, provided that (i) Tenant shall have the right to terminate this Lease by notice to Landlord given within sixty ninety (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (12090) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs taking if twenty percent (120%) or more of the Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (2ii) hereof, Landlord shall have the Tenant, at Tenant's option, may right to terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination notice to Tenant given within thirty ninety (3090) days after the passage date of such taking. If either Landlord or Tenant so elects to Terminate this Lease, the Lease shall terminate on the thirtieth (30th) day after either such notice. The Rent shall be prorated to the date of termination. If this Lease continues in force upon such partial taking, the Base Rent and ▇▇▇▇▇▇'s Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the times periods in subparagraphs (1) Premises and (2) above. Project. b. In the event that such a Notice of termination any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be giventhe exclusive property of Landlord, then this Lease and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the term condemning authority. Tenant, however, shall have the right, to the extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and estate hereby granted shall expire as damage to ▇▇▇▇▇▇'s personal property. c. In the event of a partial taking of the date of termination stated Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the cost of any Maintenance Repair Premises as nearly as practicable to its condition prior to the condemnation or Requirement Alterations taking, but only to the extent required by Section 7.1 aboveof Building Standard Work. Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant's Property.

Appears in 1 contract

Sources: Lease Agreement (Mounger Corp)

Eminent Domain. SECTION 12.1. a. If the whole all or any part of the Premises is acquired or condemned for are taken by any public or quasi-public use authority under the power of eminent domain, or purposeany agreement in lieu thereof (a "taking"), this Lease and shall terminate as to the Term shall end portion of the Premises taken effective as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Datetaking. If only a part portion of the Premises is so acquired or condemned thentaken, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and as to the Term and estate hereby granted, by notifying remainder of the Premises upon written notice to the other party in writing of such termination within one hundred twenty ninety (12090) days after the date upon which Tenant receives Notice of vesting of title. In the event taking; provided, however, that such Notice of termination shall be given, then Tenant's right to terminate this Lease and is conditioned upon the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid remaining portion of the Fixed Rent for any period after Premises being of such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any size or configuration that such acquisition or condemnation of all or any part remaining portion of the Premises, Premises is unusable or uneconomical for Tenant's business. Landlord shall be entitled to receive the entire award for all compensation, damages, income, rent awards and interest thereon whatsoever which may be paid or made in connection with any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair taking and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning any governmental authority for the value of any unexpired portion term of this Lease or of any of the Term and Tenant hereby expressly assigns to Landlord all of its right improvements or Alterations in and to any such award. Nothing contained in this Section 12.2 the Premises; provided, however, that the foregoing shall be deemed to prevent not prohibit Tenant from making prosecuting a separate claim in any condemnation proceedings against the taking authority for the value of any an amount separately designated for Tenant's Property included in such takingrelocation expenses or the interruption of or damage to Tenant's business or as compensation for Tenant's personal property, and trade fixtures, Alterations or other improvements paid for any moving expenses, by Tenant so long as any award to Tenant will not reduce the award to Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in . In the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of a partial taking of the Premises within sixty (60) days after which does not result in a termination of this Lease, the physical taking of a portion Monthly Rent, Tenant's Electrical Charge and Additional Rent under Paragraphs 5 and 7 hereunder shall be equitably reduced. If all or any part of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of Real Property other than the Premises is taken, Landlord may terminate this Lease upon written notice to Tenant given within one hundred twenty ninety (12090) days after the date of such physical taking. b. Notwithstanding the foregoing, thenif all or any portion of the Premises is taken for a period of time ending prior to the end of the term of this Lease, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease shall remain in full force and the term effect and estate hereby grantedTenant shall continue to pay all rent and to perform all of its obligations under this Lease; provided, by notifying the Landlord however, that Tenant shall be entitled to all compensation, damages, income, rent awards and interest thereon that is paid or made in writing of connection with such termination within thirty (30) days after the passage temporary taking of the times periods Premises (or portion thereof), except that any such compensation in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as excess of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent rent or other amounts payable to Landlord hereunder shall be apportioned promptly paid over to Landlord as received. Landlord and Tenant each hereby waive the provisions of such date. Notwithstanding any applicable existing or future Legal Requirement providing for, or allowing either party to petition the courts of the state in which the Real Property is located for, a termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant upon a portion partial taking of the cost of any Maintenance Repair or Requirement Alterations to Premises and/or the extent required by Section 7.1 aboveBuilding.

Appears in 1 contract

Sources: Office Lease (Lionbridge Technologies Inc /De/)

Eminent Domain. SECTION 12.1. Section 12.1 If the whole (a) all of the floor area of the Premises, or so much thereof as shall render the Premises is wholly untenantable, shall be acquired or condemned for any public or quasi-public use or purpose, or (b) a portion of the Real Property, not including the Premises, shall be so acquired or condemned, but by reason of such acquisition or condemnation, Tenant no longer has means of access to the Premises, then this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1Article 12, the Fixed Rent or and Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent or Additional Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. Section 12.2 In the event of any such acquisition or condemnation of all or any part of the PremisesReal Property, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term or Tenant's Alterations, and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the then value of any Tenant's Property included in such taking, taking and for any moving expenses, so long as provided such award shall be made by the condemning authority in addition to, and shall not result in a reduction of, the award made by it to Landlord's award is not reduced thereby. (A) Notwithstanding anything Section 12.3 If only a part of the Real Property shall be so acquired or condemned then, subject to Section 12.1, this Lease and the contrary contained Term shall continue in Sections 12.1 force and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration effect. If a part of the Premises within sixty (60) days after shall be so acquired or condemned and this Lease and the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairsTerm shall not be terminated, reconstruction or restoration Landlord, at Landlord's expense, shall restore that part of the Premises within one hundred twenty (120) days not so acquired or condemned so as to constitute tenantable Premises. From and after the date of such physical takingthe vesting of title, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding reduced in the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion proportion which the area of the cost part of any Maintenance Repair the Premises so acquired or Requirement Alterations condemned bears to the extent required by Section 7.1 abovetotal area of the Premises immediately prior to such acquisition or condemnation.

Appears in 1 contract

Sources: Lease Agreement (Fibernet Telecom Group Inc\)

Eminent Domain. SECTION 12.1. If the whole there is any taking of the Premises is acquired or condemned for any public or quasi-public use or purpose, this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears damage to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Demised Premises or any interest therein because of the exercise of the power of eminent domain, whether by condemnation proceedings or otherwise, or any transfer of any part of the Demised Premises or any interest therein made in avoidance of the exercise of the power of eminent domain (all of the foregoing being hereinafter referred to as “taking”) prior to or during the Term hereof, the rights and obligations of Landlord and Tenant with respect to such taking shall be as follows: A. If there is a taking of all of the Demised Premises, this Lease shall terminate as of the date of such taking; B. If twenty-five percent (25%) or more of the ground floor area of the Demised Premises shall be taken, or twenty-five percent (25%) of the land area described in Exhibit “B” (as the same may be amended) shall be taken (regardless of whether or not any part of the Demised Premises is taken) then, in that event, Landlord shall be entitled either to receive terminate this Lease or to rebuild the remainder of the Demised Premises or the Shopping Center. Landlord shall give written notice to Tenant of its election no later than ninety (90) days after the date Landlord receives notice that possession or title to the portion of the Demised Premises or Shopping Center taken has vested in the condemner. If this Lease is terminated in accordance with the provisions of this Paragraph 16 such termination shall become effective as of the date physical possession of the particular portion is taken or immediate possession is ordered. The parties shall be released from all further liability hereunder. If this Lease is not terminated as provided in this ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ shall restore the remainder of the improvements occupied by Tenant so far as practicable to a complete unit of like quality, character, and condition as that which existed immediately prior to the taking. Cuyamaca Bank/La Mesa Lease Initial Standard Shopping Center Lease Initial 28731-6/1822140.2 [Word] 01/30/03 If this Lease is not terminated as provided in the Paragraph 16, the annual fixed minimum rent only set forth in Article 1 for the remainder of the Term shall be reduced by the proportion which the number of square feet of ground floor area of the Demised Premises taken bears to the total ground floor area of the Demised Premises immediately before the taking. The entire award or compensation in such proceedings, whether for any such acquisition a total or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable partial taking or for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for diminution in the value of any unexpired portion the leasehold or for the fee shall belong to and be the property of the Term Landlord, and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim Tenant’s interest in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced therebyaward. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 above.

Appears in 1 contract

Sources: Standard Shopping Center Lease (Community Bancorp Inc)

Eminent Domain. SECTION 12.1. a. If the whole of the Building or Premises is acquired lawfully taken by condemnation or condemned in any other manner for any public or quasi-quasi public use or purpose, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything Rent shall be prorated to such date. If less than the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration whole of the Building or Premises is so taken, this Lease shall be unaffected by such taking, provided that (i) Tenant shall have the right to terminate this Lease by notice to Landlord given within sixty ninety (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (12090) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs taking if twenty percent (120%) or more of the Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (2ii) hereof, Landlord shall have the Tenant, at Tenant's option, may right to terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination notice to Tenant given within thirty ninety (3090) days after the passage date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall terminate on the thirtieth (30th) day after either such notice. The Rent shall be prorated to the date of termination. If this Lease continues in force upon such partial taking, the Base Rent and ▇▇▇▇▇▇'s Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the times periods in subparagraphs (1) Premises and (2) above. Project. b. In the event that such a Notice of termination any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be giventhe exclusive property of Landlord, then this Lease and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the term condemning authority. Tenant, however, shall have the right, to the extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and estate hereby granted shall expire as damage to ▇▇▇▇▇▇'s personal property. c. In the event of a partial taking of the date of termination stated Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the cost of any Maintenance Repair Premises as nearly as practicable to its condition prior to the condemnation or Requirement Alterations taking, but only to the extent required by Section 7.1 aboveof Building Standard Work. Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant's Property.

Appears in 1 contract

Sources: Office Building Lease (Money Store Inc /Nj)

Eminent Domain. SECTION 12.1Section 11.01. If the whole of the Demised Premises is shall be acquired or condemned for any public or quasi-public use or purpose, this Lease and the Demised Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Demised Premises is shall be so acquired or condemned then, except as hereinafter otherwise provided in this Section 12.1Section, this Lease and the Demised Term shall continue in force and effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Demised Premises so acquired or condemned bears to the total area of the Demised Premises immediately prior to such acquisition or condemnation. If only a part of the Real Property shall be so acquired or condemned, then (i) whether or not the Demised Premises shall be affected thereby (unless only an insubstantial part of the Real Property is so acquired or condemned), Landlord, at Landlord's option, may give to Tenant, within sixty (60) days next following the date upon which Landlord shall have received notice of vesting of title, a thirty (30) days' notice of termination of this Lease, and (ii) if the part of the Premises Real Property so acquired or condemned contains shall contain more than fifty percent ten (5010%) percent of the rentable square feet total area of the Demised Premises immediately prior to such acquisition or condemnation, or if, by reason of such acquisition or condemnation, Tenant no longer has reasonable means of access to the Premises shall be rendered wholly or substantially unsuitable for the Permitted UseDemised Premises, then either Landlord or Tenant Tenant, at Tenant's option, may terminate this Lease and the Term and estate hereby grantedgive to Landlord, by notifying the other party in writing of such termination within one hundred twenty sixty (12060) days after next following the date upon which Tenant receives Notice shall have received notice of vesting of title, a thirty (30) days' notice of termination of this Lease. In the event that any such Notice thirty (30) days' notice of termination shall be is given, then by Landlord or Tenant, this Lease and the Demised Term shall come to an end and estate hereby granted shall expire as upon the expiration of the date of termination stated in said Notice, thirty (30) days with the same effect as if that the date of expiration of said thirty (30) days were the Fixed Expiration Date. If a part of the Demised Premises shall be so acquired or condemned and this Lease and the Demised Term shall not be terminated pursuant to the foregoing provisions of this Section, Landlord, at Landlord's expense, shall restore that part of the Demised Premises not so acquired or condemned to a self-contained rental unit. In the event of any termination of this Lease and the Demised Term pursuant to the provisions of this Section 12.1Section, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner such termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2Section 11.02. In the event of any such acquisition or condemnation of all or any part of the PremisesReal Property, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Demised Term and Tenant hereby expressly assigns to Landlord all of its right rights in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings proceeding for the value of any items of Tenant's Personal Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 abovewhich are compensable, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, thenlaw, as a result of any circumstances described in subparagraphs (1) trade fixtures, or (2) hereof, the for moving and relocation damages separately payable to Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 above.

Appears in 1 contract

Sources: Lease Agreement (Liberty Financial Companies Inc /Ma/)

Eminent Domain. SECTION 12.1. a. If the whole of the Project or Premises is acquired lawfully taken by condemnation or condemned in any other manner for any public or quasi-public use or purpose, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything Rent shall be prorated to such date. If less than the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration whole of the Project or Premises is so taken, this Lease shall be unaffected by such taking, provided that (i) Tenant shall have the right to terminate this Lease by written notice to Landlord given within sixty ninety (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (12090) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs taking if twenty percent (120%) or more of the Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, or if such portion of the Project other than the Premises is taken which makes it reasonably impossible for Tenant to carry on its operations, and (2ii) hereof, Landlord shall have the Tenant, at Tenant's option, may right to terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination written notice to Tenant given within thirty ninety (3090) days after the passage date of such taking if the taking shall include the Building of which the Premises are a part. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall terminate on the thirtieth (30th) day after either such notice. The Rent shall be prorated to the date of Termination. If this Lease continues in force upon such partial taking, the Annual Base Rent and Tenant's Proportionate Share of Project Operating Expenses shall be equitably adjusted according to the remaining Area of the times periods in subparagraphs (1) Premises and (2) above. Project. b. In the event that such a Notice of termination any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be giventhe exclusive property of Landlord, then this Lease and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the term condemning authority. Tenant, however, shall have the right, to the extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and estate hereby granted shall expire as damage to Tenant's personal property and after damage recoverable by Tenant under applicable laws. c. In the event of a partial taking of the date of termination stated Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the cost of any Maintenance Repair Premises as nearly as practicable to its condition prior to the condemnation or Requirement Alterations taking, but only to the extent required by Section 7.1 aboveof the Tenant Improvement allowance established pursuant to Addendum, Paragraphs 47 and 48 and the attached Exhibit "C". Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of any other leasehold improvements and Tenant's Property.

Appears in 1 contract

Sources: Office Building Lease (Viasat Inc)

Eminent Domain. SECTION 12.113.1. If In the whole event that all or a substantial part of the Building and/or the Premises is acquired are taken or condemned for any public purpose, this Lease shall terminate as of the date of such taking. For purposes of this Section 13.1, a substantial part of the Premises or quasi-the Building shall be deemed to have been taken if (a) more than fifteen percent (15%) of the Rentable Area of the Premises is rendered unusable by Tenant, provided Tenant does not send Landlord written notice, within thirty (30) days after Tenant is notified of such taking, of Tenant's election not to have this Lease terminate as provided for hereunder, in which event the provisions of Section 13.2 shall govern; or (b) all or substantially all of the Rentable Area of the Building is taken; or (c) less than substantially all of the Rentable Area of the Building is rendered unusable and such unusable portion of the Building results in the Premises being not reasonably usable for the conduct of Tenant's business on the Premises. SECTION 13.2. In the event that a portion, but less than a substantial part, of the Premises shall be taken or condemned for any public use purpose, then this Lease shall terminate as of the date of such taking as to the portion of the Premises so taken, and this Lease shall remain in full force and effect as to the remainder of the Premises. In such event, the Base Rent, and Additional Rent attributable to the Premises, shall be diminished by an amount representing the part of such amounts properly applicable to the portion of the Premises so taken. SECTION 13.3. In the event of the termination of this Lease pursuant to the provisions of subsections 13.1 or purpose13.2, this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of such termination stated in said Notice, the same manner and with the same effect as if that date were the Fixed Expiration Date. In date set for the event normal expiration of any termination of this Lease the Term, and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination. The provisions of this Section 13.3 shall apply in the same manner to any partial termination and any prepaid portion of this Lease pursuant to the Fixed Rent for any period after such date shall be refunded by Landlord to Tenantprovisions of this Article 13. SECTION 12.213.4. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings proceeding or action for the value of any Tenant's Property included in such taking, and without deduction therefrom for any moving expenses, so estate vested in Tenant by this Lease; provided that nothing herein contained shall prohibit Tenant from seeking any separate award or benefits that Tenant may be entitled to as long as such award or benefits do not in any manner reduce the award payable to Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 above.

Appears in 1 contract

Sources: Lease Agreement (Federal Data Corp /Fa/)

Eminent Domain. SECTION 12.1. 16.1 If the whole of the Premises is Demised Premises, or such part thereof as will render the remainder untenantable, shall be acquired or condemned for any public or quasi-public use or purpose, this Lease and the Term shall end as of the date of the vesting of title in the condemning authority (either through court order or by voluntary conveyance by Landlord in lieu of condemnation) with the same effect as if said date were the Fixed Expiration Date. If only a part of the Demised Premises is shall be so acquired or condemned condemned, then, except as hereinafter otherwise provided in this Section 12.1Article, this Lease and the Term shall continue in force and effect but, if a part of the Premises is so acquired or condemned, but from and after the date of the vesting of title, the Fixed Annual Net Rent and Additional Rent, if any, shall be reduced in an amount which bears the proportion same ratio to the Annual Net Rent payable immediately prior to such condemnation pursuant to this Lease as the value of the untaken portion of the Demised Premises (appraised after the taking and repair of any damage to the Building pursuant to this Section) bears to the value of the entire Demised Premises immediately before the taking and any additional rent payable or credits receivable pursuant to Article 3 shall be adjusted to reflect the diminution of the Demised Premises. The value of the Demised Premises before and after the taking shall be determined for the purposes of this Section by an independent appraiser, said appraiser shall be chosen by arbitration pursuant to Article 35. If only a part of the Building shall be so acquired or condemned, then (a) whether or not the Demised Premises shall be affected thereby, Landlord, at Landlord's sole option, may give to Tenant, within sixty (60) days next following the date upon which the area Landlord shall have received notice of vesting of title, thirty (30) days' notice of termination of this Lease, and (b) if the part of the Premises Building so acquired or condemned bears to shall contain more than twenty-five percent (25%) of the total area of the Demised Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises , or if, by reason of such acquisition or condemnation, Tenant no longer has reasonable means of access to the Premises shall be rendered wholly or substantially unsuitable for the Permitted UseDemised Premises, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby grantedgive to Landlord, by notifying the other party in writing of such termination within one hundred twenty sixty (12060) days after following the date upon which Tenant receives Notice Landlord shall have received notice of vesting of title, thirty (30) days' notice of termination of this Lease. Any dispute concerning the exercise by Landlord or Tenant of an option to terminate this Lease pursuant to this Section 16.1 shall be submitted to arbitration pursuant to Article 35 below. In the event that any such Notice thirty (30) days notice of termination shall be givenis given by Landlord or Tenant, then this Lease and shall terminate upon the Term and estate hereby granted shall expire as expiration of the date of termination stated in said Notice, thirty (30) days with the same effect as if that the date were the Fixed Expiration Date. If part of the Demised Premises shall be so acquired or condemned, and this Lease shall not be terminated pursuant to the provisions of this Section, Landlord, at Landlord's expense, shall restore that part of the Demised Premises not so acquired or condemned to a self-contained rental unit. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1Section, the Fixed Annual Net Rent or and Additional Rent shall shall, as to any portion of the Demised Premises that was not taken, be apportioned as of the date of sooner such termination and any prepaid portion of the Fixed Annual Net Rent and Additional Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. 16.2 In the event of any such acquisition or condemnation of all or any part of the PremisesBuilding, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation. Except as specifically provided herein, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right right, title and interest in and to any such award, and also agrees to execute any and all further documents that may be required in order to facilitate the collection thereof by Landlord. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for all moving and relocation expenses and for the value of any Tenant's Personal Property included in such taking, and which would be removable at the end of the Term pursuant to the provisions of Section 10.6 hereof. 16.3 If the use or occupancy of all or any part of the Demised Premises shall be condemned or taken for any moving expensespublic or quasi-public use or purpose during the Term for a period not in excess of six (6) months, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease shall be and remain unaffected by such condemnation or taking and Tenant shall continue responsibility for all of its obligations hereunder and it shall continue to pay the term and estate hereby granted, by notifying the Landlord rent in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) abovefull. In the event that of any such a Notice of termination condemnation or taking, Tenant shall be givenentitled to appear, then this Lease claim, prove, and receive the entire award unless the period of temporary use or occupancy extends beyond the Expiration Date, in which event Landlord shall be entitled to appear, claim, prove, and receive the entire award as represents the cost of restoration of the Demised Premises and the term balance of any such award shall be apportioned between Landlord and estate hereby granted shall expire Tenant as of the date Expiration Date. At the termination of termination stated in said Notice with such public or quasi-public occupancy prior to the same effect as if that date were the Fixed Expiration Date, and Tenant will, at its own expense, restore the Fixed Rent and Additional Rent hereunder Demised Premises as nearly as possible to the condition in which they were prior to the condemnation or taking, provided, however, that Tenant shall be apportioned as have no obligation to expend any sum in excess of such datethe condemnation proceeds received by Tenant under this Section 16.3 to restore the Demised Premises in accordance with this Section. Notwithstanding the termination preceding provisions of this Lease Section, any lump sum award received by Tenant as compensation for temporary use and occupancy of the Demised Premises shall be delivered forthwith to Landlord to be held by Landlord in trust for the making of payments by Tenant as provided in this Subsection 12.3(A) Lease. 16.4 If the grade of any street upon which the Building is situated or abuts shall be changed by any competent authority, this Lease shall nevertheless continue in full force and effect, and Landlord shall be obligated entitled to reimburse collect from such authority the entire award that may be made in such proceedings. Tenant hereby expressly assigns to Landlord all of its right, title, and interest in or to every such award and also agrees to execute any and all further documents that may be required in order to facilitate the collection thereof by Landlord. 16.5 Landlord shall promptly provide Tenant a portion with any condemnation notices received by Landlord, if the proposed condemnation would have any material effect on the Demised Premises, access thereto, or Tenant's parking, and, upon request, will provide Tenant with copies of the cost of relevant pleadings in any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 abovecondemnation action.

Appears in 1 contract

Sources: Lease (Mercator Software Inc)

Eminent Domain. SECTION 12.1. a. If the whole all or any part of the Premises is acquired or condemned for taken by any public or quasi-public use authority under the power of eminent domain, or purposeany agreement in lieu thereof (a "taking"), this Lease and shall terminate as to the Term shall end portion of the Premises taken effective as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Datetaking. If only a part portion of the Premises is so acquired or condemned thentaken, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and as to the Term and estate hereby granted, by notifying remainder of the Premises upon written notice to the other party in writing of such termination within one hundred twenty ninety (12090) days after the date upon which Tenant receives Notice of vesting of title. In the event taking; provided, however, that such Notice of termination shall be given, then Tenant's right to terminate this Lease and is conditioned upon the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid remaining portion of the Fixed Rent for any period after Premises being of such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any size or configuration that such acquisition or condemnation of all or any part remaining portion of the Premises, Premises is unusable or uneconomical for Tenant's business. Landlord shall be entitled to receive the entire award for all compensation, damages, income, rent awards and interest thereon whatsoever which may be paid or made in connection with any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair taking and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning any governmental authority for the value of any unexpired portion term of this Lease or of any of the Term and Tenant hereby expressly assigns to Landlord all of its right improvements or Alterations in and to any such award. Nothing contained in this Section 12.2 the Premises; provided, however, that the foregoing shall be deemed to prevent not prohibit Tenant from making prosecuting a separate claim in any condemnation proceedings against the taking authority for the value of any an amount separately designated for Tenant's Property included in such takingrelocation expenses or the interruption of or damage to Tenant's business or as compensation for Tenant's personal property, and trade fixtures, Alterations or other improvements paid for any moving expenses, by Tenant so long as any award to Tenant will not reduce the award to Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in . In the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of a partial taking of the Premises within sixty (60) days after which does not result in a termination of this Lease, the physical taking of a portion Monthly Rent and Additional Rent under Paragraphs 5 and 7 hereunder shall be equitably reduced. If all or any material part of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of Real Property other than the Premises is taken, Landlord may terminate this Lease upon written notice to Tenant given within one hundred twenty ninety (12090) days after the date of such physical taking. b. Notwithstanding the foregoing, then, as if all or any portion of the Premises is taken for a result period of any circumstances described in subparagraphs time of one (1) year or (2) hereofless ending prior to the end of the term of this Lease, the Tenant, at Tenant's option, may terminate this Lease shall remain in full force and the term effect and estate hereby grantedTenant shall continue to pay all rent and to perform all of its obligations under this Lease; provided, by notifying the Landlord however, that Tenant shall be entitled to all compensation, damages, income, rent awards and interest thereon that is paid or made in writing of connection with such termination within thirty (30) days after the passage temporary taking of the times periods Premises (or portion thereof), except that any such compensation in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as excess of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent rent or other amounts payable to Landlord hereunder shall be apportioned promptly paid over to Landlord as received. Landlord and Tenant each hereby waive the provisions of such date. Notwithstanding California Code of Civil Procedure Section 1265.130 and any other applicable existing or future Legal Requirement providing for, or allowing either party to petition the courts of the state in which the Real Property is located for, a termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant upon a portion partial taking of the cost of any Maintenance Repair or Requirement Alterations to Premises and/or the extent required by Section 7.1 aboveBuilding.

Appears in 1 contract

Sources: Office Lease (Kitara Media Corp.)

Eminent Domain. SECTION 12.1. A-17.01 If the whole or substantially all of the Premises is shall be acquired or condemned by eminent domain for any public or quasi-quasi public use or purpose, then and in that event, the term of this Lease shall cease and the Term shall end as of terminate from the date of the title vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease such proceeding and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion term of said lease. In the event that more than 25%, but less than the whole or substantially the whole of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration ground floor area of the Premises within sixty (60) days after shall be so condemned, or should Tenant's manner of ingress to or egress from the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration Premises be so substantially altered so as to materially and adversely interfere with Tenant's use of the Premises within one hundred twenty (120) days after for the date of such physical taking, then, as a result of any circumstances described purposes permitted in subparagraphs (1) or (2) hereofthis Lease, the Tenant, at Tenant's option, may Landlord and the Tenant shall each have the right to cancel and terminate this Lease and Lease, upon the term and estate hereby granted, by notifying giving of written notice to the Landlord in writing of such termination within other party not later than thirty (30) days after the passage date of vesting of title in the condemning authority, of the times periods in subparagraphs (1) said party's election to terminate said Lease. Termination shall be effected as of the time that possession of the part so taken shall be required for public use, Rent shall be apportioned and (2) aboveadjusted as of the time of termination and Tenant shall have no claim against Landlord for the value of any unexpired term of this Lease. In the event that such a Notice not more than 25% of termination the ground floor area of the Premises shall be giventaken by condemnation or in the event that the Lease shall not be terminated as aforesaid, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination Term of this Lease as provided shall continue in this Subsection 12.3(A) full force and effect and the Landlord shall be obligated to reimburse to Tenant a portion repair the remaining part of the cost Premises, if any part thereof has been taken in such condemnation, and thereafter the Rent shall ▇▇▇▇▇ in the proportion which the square foot area of any Maintenance Repair or Requirement Alterations part of the Premises so taken bears to the extent entire Premises. In the event that any condemnation shall not affect the building in which the Premises are contained this Lease shall in no way be affected and Rent shall in no way ▇▇▇▇▇. No part of any award for any such taking by condemnation or eminent domain shall belong to the Tenant and Tenant covenants to execute such instruments of assignment as shall be necessary or reasonably required by Section 7.1 aboveLandlord in any condemnation or eminent domain proceedings if so requested and to turn over to Landlord any damages that may be recovered in such proceedings but provided it does not diminish Landlord's award, Tenant may prosecute a separate claim with the condemning authority for Tenant's trade fixtures and moving expenses. Any award, however, for damages for trade fixtures installed by Tenant or anyone claiming under Tenant at its own expense and which are not part of the realty shall belong to the Tenant. The Landlord shall have the absolute right to settle any claim in condemnation proceedings without interference from Tenant and without any obligation to Tenant, and Landlord shall have the absolute right to make a conveyance of title of the real property being taken by condemnation proceedings to the public or quasi public authority having the power of eminent domain in lieu of the condemnation proceedings and where said conveyance is made in lieu thereof, it shall have the same force and effect herein as if the condemnation proceedings had proceeded to full and final completion. A conveyance of title in lieu of such proceedings shall not be made prior to the actual commencement of proceedings or the filing of formal notice of the taking.

Appears in 1 contract

Sources: Loft Lease (Critical Home Care Inc)

Eminent Domain. SECTION 12.122.01. If the whole of the Premises is acquired Building shall be lawfully taken by condemnation or condemned in any other manner for any public or quasi-public use or of purpose, this Lease and the Term term and estate hereby granted shall end forthwith terminate as of the date of vesting of title on such taking (which date is herein after also referred to as the "date of the taking"), and the rents shall be prorated and adjusted as of such date. 22.02. If any part of the Building shall be so taken, this Lease shall be unaffected by such taking, except that Tenant may elect to terminate this Lease in the event of a permanent partial taking, of or part of the Demised Premises if the Demised Premises are not be reasonably sufficient for Tenant to continue feasible operation of its business. Tenant shall give notice of such election to Landlord not later than thirty (30) days after the date of such taking. Upon the giving of such notice to Landlord, this Lease shall terminate on the date of service of notice and the rents apportioned to the part of the Demised Premises so taken shall be prorated and adjusted as of the date of the vesting taking and the rents apportioned to the remainder of title with the same effect Demised Premises shall be prorated and adjusted as if said date were the Fixed Expiration Dateof such termination date. If only a Upon such partial taking and this Lease continuing in force as to any part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of titleDemised Premises, the Fixed Rent and Additional Rent, if any, rents apportioned to the part taken shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease prorated and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire adjusted as of the date of termination stated in said Notice, with taking and from such date the same effect as if that date were fixed rent shall be reduced to the Fixed Expiration Date. In amount apportioned to the event remainder of any termination of this Lease the Demised Premises and the Term additional rent shall be payable pursuant to Article 5 according to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenantrentable area remaining. SECTION 12.222.03. In the event of any such acquisition or condemnation of all or any part of the PremisesExcept as specifically set forth in Section 22.04, hereof, 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 such acquisition or condemnationestate vested in Tenant by this Lease, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have receive no claim against Landlord or the condemning authority for the value part of any unexpired portion of the Term and such award. Tenant hereby expressly assigns to Landlord all of its right right, title, and interest in and or to any every such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making may claim a separate claim in any condemnation proceedings award for the value unamortized portion of the cost incurred by Tenant in connection with any of Tenant's Property included installed pursuant to this Lease. In addition, Tenant may ▇▇▇ the appropriate agency for relocation expenses. 22.04. If the temporary use or occupancy of all or any part of the Demised Premises shall be lawfully taken by condemnation or in any other manner for any public or quasi-public use or purpose during the term of this Lease, Tenant shall be entitled, except as hereinafter set forth, to receive any award for such taking up to the aggregate of all fixed rent and additional rent provided any such reward does not serve to diminish Landlord's award in any respect whatsoever and, if so awarded, for the taking of Tenant's Property and for moving expenses, and Landlord shall be entitled to receive that portion which represents reimbursement for the cost of restoration of the Demised Premises. This Lease shall be and remain unaffected by such taking and Tenant shall remain responsible for all of its obligations hereunder insofar as such obligations are not affected by such taking and shall continue to pay in full the fixed rent and additional rent when due. If the period of temporary use or occupancy of the Demised Premises (or a part thereof) shall be divided between Landlord and Tenant so that Tenant shall receive so much thereof as represents the period prior to the Expiration Date and Landlord shall receive so much thereof as represents the period subsequent to the Expiration Date. All moneys received by Tenant as, or as part of, an award for temporary use and occupancy for a period beyond the date to which the rents hereunder have been paid by Tenant shall be received, held, and applied by Tenant as a trust fund for payment of the rents falling due hereunder. Any temporary taking which lasts longer than nine (9) months shall constitute a permanent taking. 22.05. In the event of any taking of less than the whole of the Building which does not result in a termination of this Lease, or in the event of a taking for a temporary use or occupancy of all or any part of the Demised Premises which does not extend beyond the Expiration Date, Landlord, at its expense, shall proceed with reasonable diligence to repair, alter, and restore the remaining parts of the Building and the Demised Premises to substantially their former condition to the extent that the same may be feasible and so as to constitute a complete and tenantable Building and Demised Premises provided that Landlord's liability under this Section 22.05 shall be limited to the net amount (after deducting all costs and expenses, including, but not limited to, legal expenses incurred in connection with the eminent domain proceeding) received by Landlord as an award arising out of such taking. If such taking occurs within the last three (3) years of the term of this Lease, Landlord shall have the right to terminate this Lease by giving the Tenant written notice to such effect within ninety (90) days after such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, this Lease shall then expire on that effective date stated in the event that: (1) notice as if that were the Landlord fails to commence any repairsExpiration Date, reconstruction or restoration of but the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease fixed rent and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination additional rent shall be given, then this Lease prorated and the term and estate hereby granted shall expire adjusted as of the date of termination stated in said Notice with such taking. If such taking occurs during the same last two (2) years of the term of this Lease, then Tenant shall have the right to terminate this lease by giving the Landlord written notice to such effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent foregoing provisions of this Section 22.05 shall apply with respect to the Tenant's notification to terminate. 22.06. Should any part of the Demised Premises be taken to effect compliance with any law or requirement of public authority other than in the manner hereinabove provided in this Article then, (i) if such compliance is the obligation of Tenant under this Lease, Tenant shall not be entitled to any diminution or abatement of rent or other compensation from Landlord therefor, but (ii) if such compliance is the obligation of Landlord under this Lease, the fixed rent hereunder shall be apportioned reduced and additional rents under Article 5 shall be adjusted in the same manner as is provided in Section 22.02 according to the reduction in rentable area of the Demised Premises resulting from such datetaking. 22.07. Notwithstanding Any dispute which may arise between the termination parties with respect to the meaning or application of any of the provisions of this Lease as Article shall be determined by arbitration in the manner provided in this Subsection 12.3(AArticle 33. 22.08. Landlord and Tenant agree that any taking limited to the parking deck and surrounding areas, within the Land, which results in a permanent loss of twenty percent (20%) Landlord of the parking spaces, then such event shall be obligated to reimburse to Tenant deemed a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 abovetaking under this Article 22.

Appears in 1 contract

Sources: Sublease Agreement (I Many Inc)

Eminent Domain. SECTION 12.1. (a) If the whole all or any substantial part of the Premises or the Building is acquired or condemned taken for any public or quasi-quasi- public use under governmental law or purposeby right of eminent domain (the Taking), this Lease terminates at Landlord’s election, which ▇▇▇▇▇▇▇▇ has the right to make notwithstanding the divestiture of Landlord’s entire interest in the Building. Tenant has the right to terminate this Lease if the Taking would materially interfere with Tenant’s use and occupancy of the Term shall end as Premises (even if Landlord reconstructs the Premises and Building to the maximum extent practicable in the case of a partial Taking), or, in the case of a partial Taking, if (i) Tenant determines, in Tenant’s reasonable business judgment, that Landlord cannot reasonably be expected to complete, within 150 days from the date of the vesting Taking, any reconstruction of title the Premises, of the Building, or of both that is necessary for ▇▇▇▇▇▇’s use and occupancy of the Premises in accordance with the same effect as provisions of this Lease, or (ii) Landlord, having elected not to terminate the Lease, fails to complete such reconstruction within 150 days after the Taking. (b) The foregoing rights of Landlord and Tenant to terminate this Lease if said date were there is a Taking is subject to the Fixed Expiration Date. If only following notice provisions: Within 30 days after a Taking of all or a substantial part of the Premises or the Building, Landlord must notify Tenant of Landlord’s election to terminate the Lease in accordance with the preceding paragraph. Tenant must notify Landlord of Tenant’s election to terminate the Lease within 30 days after the Taking, or within 30 days after the expiration of the 150-day period given to Landlord to restore the Premises after a partial Taking if this Lease is so acquired not terminated and Landlord has failed to complete such restoration within said 150-day period. Any such termination of the Lease by Landlord or condemned then, except as hereinafter provided in this Section 12.1Tenant is effective no earlier than 30 days after the giving of notice. Unless terminated pursuant to the foregoing provisions, this Lease remains in full force and effect, subject, however to other provisions of this § 7.2. (c) If Landlord does not terminate this Lease after a Taking, or if the Term shall continue in effect but, if Taking effects less than all or a substantial part of the Premises is so acquired or condemnedthe Building, from Landlord must proceed with diligence to establish and after collect all valid claims that arise against the date Taking authority or others and, subject to the then-applicable building codes, zoning ordinances, and other legal requirements, Landlord must proceed with diligence to restore the Premises and the Building, or their remains, as nearly as practicable to their condition before such Taking, at Landlord’s sole expense, subject, however, to the extent of the vesting of title, proceeds from the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area Taking. (d) If any Taking of the Premises or the Building or if Landlord’s restoration of either or both (i) reduces the Usable Area of the Premises, (ii) renders any part of the Premises so acquired unfit for Tenant’s use and occupancy, or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease otherwise materially interferes with Tenant’s use and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part occupancy of the Premises, Landlord shall or (iii) causes a material cessation or reduction in Landlord’s Services under this Lease (even if Tenant continues to use and occupy the Premises), Rent or a just portion of Rent must be entitled to receive abated until the entire award for any Premises or their remains, such acquisition services, or condemnationall of them are restored, but shall be obligated to proceed with reasonable diligence to repair and restore as this Lease requires. In the case of a Taking that reduces the Usable Area of the Premises, at interferes with ▇▇▇▇▇▇’s use and occupancy of the Premises, or materially diminishes Landlord's expense’s Services on a permanent basis, to a condition most suitable just portion of Rent must be abated for the Permitted Use. Tenant shall have no claim against remainder of the Term. (e) Landlord reserves all rights to any damages or the condemning authority for the value compensation payable by reason of any unexpired portion of the Term Taking, and Tenant hereby expressly assigns grants to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in rights to such takingdamages or compensation, and covenants to execute and deliver such further instruments as Landlord requests from time to time in order to obtain such damages or compensation, provided, however, that Tenant reserves for Tenant any award specifically reimbursing Tenant for moving or relocation expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereofother award, the Tenant, at Tenant's option, may terminate this Lease and payment of which does not diminish the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated amounts otherwise payable to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 aboveLandlord.

Appears in 1 contract

Sources: Office Lease

Eminent Domain. SECTION 12.1. a. If the whole of the Building or Premises is acquired lawfully taken by condemnation or condemned in any other manner for any public or quasi-public use or purpose, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Datesuch taking and Rent shall be prorated to such date. If only a part less than the whole of the Building or Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1taken, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in unaffected by such taking, provided that (i) Tenant shall have the proportion which the area of the part of the Premises so acquired or condemned bears right to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns notice to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. given within ninety (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (12090) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs taking if twenty percent (120%) or more of the Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (2ii) hereof, Landlord shall have the Tenant, at Tenant's option, may right to terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination notice to Tenant given within thirty ninety (3090) days after the passage date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall terminate on the thirtieth (30th) day after either such notice. The Rent shall be prorated to the date of termination. If this Lease continues in force upon such partial taking, the Base Rent and Tenant's Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the times periods in subparagraphs (1) Premises and (2) above. Project. b. In the event that such a Notice of termination any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemnation authority shall be giventhe exclusive property of Landlord, then this Lease and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the term condemning authority. Tenant, however, shall have the right, to the extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and estate hereby granted shall expire as damage to Tenants personal property. c. In the event of a partial taking of the date of termination stated Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the cost of any Maintenance Repair Premises as nearly as practicable to its condition prior to the condemnation or Requirement Alterations taking, but only to the extent required by Section 7.1 aboveof Building Standard Work. Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant's Property.

Appears in 1 contract

Sources: Office Lease (Valuestar Corp)

Eminent Domain. SECTION 12.1. 15.1 If the whole all of the Premises is acquired condemned or condemned taken in any manner for any public or quasi-public use use, including but not limited to a conveyance or purposeassignment in lieu of a condemnation or taking, this Lease and shall automatically terminate as of the Term shall end as earlier of the date of the vesting of title with or the same effect date of dispossession of Tenant as if said date were the Fixed Expiration Datea result of such condemnation or other taking. If only a part of the Premises is so acquired condemned or condemned then, except as hereinafter provided in this Section 12.1taken, this Lease and shall automatically terminate as to the Term shall continue in effect but, if a part portion of the Premises is so acquired or condemned, from and after taken as of the earlier of the date of the vesting of titletitle or the date of dispossession of Tenant as a result of such condemnation or taking. If such portion of the Building is condemned or otherwise taken so as to require, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area opinion of Landlord, a substantial alteration or reconstruction of the part remaining portions thereof, this Lease may be terminated by Landlord, as of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as earlier of the date of termination stated in the vesting of title or the date of dispossession of Tenant as a result of such condemnation or taking, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said Noticevesting or dispossession will occur. If such portion of the Premises is taken so as to render the remaining portion untenantable and unusable by Tenant, with or greater than 20% of the Premises is condemned and Landlord does not make other reasonably comparable space available to Tenant at the same effect time Tenant’s right to use the condemned portion of the Premises is lost, this Lease may be terminated by Tenant as if of the earlier of the date of the vesting of title or the date of dispossession of Tenant as a result of such condemnation or taking, by written notice to Landlord within sixty (60) days following notice to Tenant of the date on which said vesting or dispossession will occur. 15.2 Landlord shall be entitled to the entire award in any condemnation proceeding or other proceeding for taking for public or quasi-public use, including, without limitation, any award made for the value of the leasehold estate created by this Lease; provided, however any bonus value attributable to the leasehold estate created hereby shall be divided equally between Landlord and Tenant. No award for any partial or entire taking shall be Initials /s/ Illegible Initials /s/ Illegible 07/17/02 apportioned, and Tenant hereby assigns to Landlord any award that date were may be made in such condemnation or other taking, together with any and all rights of Tenant now or hereafter arising in or to 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 specifically for its relocation expenses or the Fixed Expiration Date. taking of personal property and fixtures belonging to Tenant. 15.3 In the event of any a partial condemnation or other taking that does not result in a termination of this Lease and the Term pursuant as to the provisions of this Section 12.1entire Premises, the Fixed Rent or Monthly Base Rental and Additional Rent shall be apportioned as of a▇▇▇▇ in proportion to the date of sooner termination and any prepaid portion of the Fixed Rent for any period after Premises taken by such date shall be refunded by Landlord to Tenantcondemnation or other taking. SECTION 12.2. In the event of any such acquisition or condemnation of 15.4 If all or any part portion of the PremisesPremises is condemned or otherwise taken for public or quasi-public use for a limited period of time, this Lease shall remain in full force and effect and Tenant shall continue to perform all of the terms, conditions and covenants of this Lease; provided, however, the Monthly Base Rental and Additional Rent shall a▇▇▇▇ during such limited period in proportion to the portion of the Premises that is rendered untenantable and unusable as a result of such condemnation or other taking. Landlord shall be entitled to receive the entire award for made in connection with any such acquisition temporary condemnation or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such other taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 above.

Appears in 1 contract

Sources: Office Lease (Molina Healthcare Inc)

Eminent Domain. SECTION 12.1. Section 11.1 If the whole of the Real Property, the Building or the Premises is shall be acquired or condemned for any public or quasi-public use or purpose, this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Real Property and not the entire Premises is shall be so acquired or condemned then, (1) except as hereinafter provided in this Section 12.111.1, this Lease and the Term shall continue in force and effect but, if a part of the Premises is included in the part of the Real Property so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, the Space Factor shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If condemnation and Tenant’s Share shall be redetermined based upon the part proportion in which the ratio between the rentable area of the Premises acquired remaining after such acquisition or condemned contains more than condemnation bears to the rentable area of the Building remaining after such acquisition or condemnation; (2) if the Premises shall be affected thereby, Landlord, at Landlord’s option, may give to Tenant, within sixty (60) days next following the date upon which Landlord shall have received notice of vesting of title, a ninety (90) days’ notice of termination of this Lease if Landlord shall elect to terminate leases (including this Lease), affecting at least fifty percent (50%) of the rentable square feet area of the Building; (3) if at least fifty percent (50%) of the Building, but not the Premises, shall have been affected thereby, Landlord, at Landlord’s option, may give to Tenant, within sixty (60) days next following the date upon which Landlord shall have received notice of vesting of title, a ninety (90) days’ notice of termination of this Lease if Landlord shall elect to terminate leases (including this Lease), affecting at least seventy-five percent (75%) of the rentable area of the Building; and (4) if the part of the Real Property so acquired or condemned shall contain more than fifteen percent (15%) of the total area of the Premises immediately prior to such acquisition or condemnation, or if, by reason of such acquisition or condemnation, Tenant no longer has reasonable means of access to the Premises or if, in Tenant’s reasonable opinion, the portion of the Premises remaining shall be rendered wholly inadequate for Tenant to conduct its business at the Premises or substantially unsuitable for if a temporary taking of the Permitted UsePremises is in excess of one hundred eighty (180) days, then either Tenant, at Tenant’s option, may give to Landlord, within sixty (60) days next following the date upon which Tenant shall have received notice of vesting of title, a thirty (30) days’ notice of termination of this Lease. If any such thirty (30) days’ notice of termination is given, by Landlord or Tenant may terminate Tenant, this Lease and the Term shall come to an end and estate hereby granted, by notifying expire upon the other party in writing expiration of such termination within one hundred twenty said thirty (12030) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that the date of expiration of said thirty (30) days were the Fixed Expiration Date. If a part of the Premises shall be so acquired or condemned and this Lease and the Term shall not be terminated pursuant to the foregoing provisions of this Section 11.1, Landlord, at Landlord’s expense, shall restore that part of the Premises not so acquired or condemned and any Alterations affected thereby to a self-contained rental unit to a condition similar to that on the Commencement Date exclusive of Tenant’s Alterations. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.111.1, the Fixed Rent, Escalation Rent or and Additional Rent shall be apportioned as of the earlier of (i) the date of sooner termination or (ii) vesting of title, and any prepaid portion of the Fixed Rent, Escalation Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. Section 11.2 In the event of any such acquisition or condemnation of all or any part of the PremisesReal Property, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 11.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the then value of any Tenant's ’s Property included in such taking, and for any moving expenses, so long as provided that same does not reduce any award or payment to Landlord's award is not reduced thereby. Section 11.3 If the whole or any part of the Premises shall be acquired or condemned temporarily (Anot to exceed one hundred eighty (180) Notwithstanding anything days) during the Term for any public or quasi-public use or purpose, Tenant shall give prompt notice thereof to Landlord and the contrary contained Term shall not be reduced or affected in Sections 12.1 any way and 12.2 aboveTenant shall continue to pay in full all items of Rental payable by Tenant hereunder without reduction or abatement, in the event and Tenant shall be entitled to receive for itself any award or payments for such use, provided, however, that: (1i) if the acquisition or condemnation is for a period not extending beyond the Term and if such award or payment is made less frequently than in monthly installments, the same shall be paid to and held by Landlord fails as a fund which Landlord shall apply from time to commence any repairstime to the Rental payable by Tenant hereunder, reconstruction except that, if by reason of such acquisition or condemnation changes or alterations are required to be made to the Premises which would necessitate an expenditure to restore the Premises, then a portion of such award or payment reasonably considered by Landlord as appropriate to cover the expenses of the restoration shall be retained by Landlord, without application as aforesaid, and applied toward the restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premisesas provided in Section 11.1 hereof; or (2ii) if the acquisition or condemnation is for a period extending beyond the Term, such award or payment shall be apportioned between Landlord fails complete all repairsand Tenant as of the Expiration Date; Tenant’s share thereof, reconstruction if paid less frequently than in monthly installments, shall be paid to Landlord and applied in accordance with the provisions of clause (i) above, provided, however, that the amount of any award or payment allowed or retained for restoration of the Premises within one hundred twenty (120) days after shall remain the date property of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate Landlord if this Lease and shall expire prior to the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage restoration of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 abovePremises.

Appears in 1 contract

Sources: Lease Agreement (Kbw, Inc.)

Eminent Domain. SECTION 12.1. 21.01 If the whole of the Premises is acquired Building shall be lawfully taken by condemnation or condemned in any other manner for any public or quasi-public use or purpose, this Lease lease and the Term term and estate hereby granted shall end forthwith terminate as of the date of the vesting of title with in such taking (which date is hereinafter also referred to as the same effect "date of the taking"), and the fixed rent and additional rent due hereunder shall be prorated and adjusted as if said date were the Fixed Expiration Date. of such date. 21.02 If only a part of the Premises is Building shall be so acquired or condemned thentaken, this lease shall be unaffected by such taking, except as hereinafter provided that Tenant may elect to terminate this lease in the event of a partial taking, only if the remaining area of the Demised Premises shall not be reasonably sufficient for Tenant to continue feasible operation of its business. Tenant shall give notice of such election to Landlord not later than thirty (30) days after (i) notice of such taking is given by Landlord to Tenant, or (ii) the date of such taking, whichever occurs sooner. Upon the giving of such notice by Tenant this Section 12.1, this Lease lease shall terminate on the date of such taking and the Term fixed rent and additional rent due hereunder shall continue be prorated as of such termination date. Upon such partial taking and this lease continuing in effect but, if a force as to any part of the Premises is so acquired or condemned, from and after the date of the vesting of titleDemised Premises, the Fixed Rent and Additional Rent, if any, rents apportioned to the part taken shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease prorated and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire adjusted as of the date of termination stated in said Notice, with taking and from such date the same effect as if that date were fixed rent for the Fixed Expiration Date. In the event of any termination of this Lease Demised Premises and the Term additional rent shall be payable pursuant to Article 4 according to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenantrentable area remaining. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, 21.03 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 such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair estate vested in Tenant by this lease and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have receive no claim against Landlord or the condemning authority for the value part of any unexpired portion of the Term and such award, except as hereinafter expressly provided in this Article. Tenant hereby expressly assigns to Landlord all of its right right, title and interest in and or to any every such award. Nothing contained in this Section 12.2 shall be deemed Notwithstanding anything herein to prevent the contrary, Tenant from making may, at its sole cost and expense, make a separate claim in any condemnation proceedings with the condemning authority for Tenant's moving expenses, the value of any Tenant's Property included in such takingfixtures or Tenant's Changes which would not become part of the Building or property of the Landlord upon the expiration or sooner termination of the term of this lease, and for any moving expenses, so long as provided however that Landlord's award is not thereby reduced therebyor otherwise adversely affected. 21.04 If the temporary use or occupancy of all or any part of the Demised Premises shall be lawfully taken by condemnation or in any other manner for any public or quasi-public use or purpose during the term of this lease, Tenant shall be entitled, except as hereinafter set forth, to receive that portion of the award for such taking which represents compensation for the use and occupancy of the Demised Premises and, if so awarded, for the taking of Tenant's Property and for moving expenses, and Landlord shall be entitled to receive that portion which represents reimbursement for the cost of restoration of the Demised Premises. This lease shall be and remain unaffected by such taking and Tenant shall continue responsible for all its obligations hereunder insofar as such obligations are not affected by such taking and shall continue to pay in full the fixed rent and additional rent when due provided, however, that the Tenant shall have the right to terminate this lease if such a temporary taking continues for more than six (A6) Notwithstanding anything months. It the period of temporary use of occupancy shall extend beyond the Initial Term Expiration Date, that part of the award which represents compensation for the use or occupancy of the Demised Premises (of a part thereof) shall be divided between Landlord and Tenant so that Landlord shall receive so much thereof as represents the period subsequent to the contrary contained Initial Term Expiration Date. All moneys received by Landlord as, or as part of, an award for temporary use and occupancy for the period beyond the date to which the rents hereunder have been paid by Tenant, but prior to the Initial Term Expiration Date, shall be received, held and applied by Landlord as a trust fund for payment of the fixed rent and additional rent due hereunder. 21.05 In the event of any taking of less than the whole of the Building which does not result in Sections 12.1 and 12.2 abovea termination of this lease, or in the event that: (1) the Landlord fails to commence of a taking for a temporary use of occupancy of all or any repairs, reconstruction or restoration part of the Demised Premises within sixty (60) days after which does not extend beyond the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Initial Term Expiration Date, Landlord, at its expense, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required any award or awards shall be sufficient for the purpose, shall proceed with reasonable diligence to repair, alter and restore the remaining parts of the Building and the Demised Premises to substantially a building standard condition to the extent that the same may be feasible and so as to constitute a complete and tenantable Building and Demised Premises. 21.06 Any dispute which may arise between the parties with respect to the meaning or application of any of the provisions of this Article shall be determined by Section 7.1 abovearbitration in the manner provided in Article 34.

Appears in 1 contract

Sources: Lease (Novadigm Inc)

Eminent Domain. SECTION 12.1. (i) If the whole of the Premises is shall be acquired or condemned by eminent domain for any public or quasi-public use or purpose, this then the Lease and the Term shall end cease and terminate as of the date of the title vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease such proceeding and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed all Base Rent and Additional Rent, if any, additional rent shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears paid up to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event including that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Usedate. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion term of this Lease. (ii) If any part of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 Premises and/or the Building shall be deemed acquired or condemned as aforesaid, and in the event that such partial taking or condemnation shall render the Premises unsuitable for the business of Tenant, then the Lease Term shall cease and terminate as of the date of title vesting in such proceeding, and in the event of such termination, Base Rent and additional rent shall be adjusted up to prevent and including the date of such termination. Tenant from making a separate shall have no claim in any condemnation proceedings against Landlord for the value of any unexpired term of this Lease. In the event of a partial taking or condemnation which is not extensive enough to render the Premises unsuitable for the business of Tenant's Property included , then Landlord shall promptly restore the Premises (including Landlord’s Work, but not Tenant’s improvements) ,to a condition comparable to its condition at the time of such condemnation less the portion lost in such the taking, and for any moving expensesthis Lease shall continue in full force and effect, but there shall be an equitable adjustment in Base Rent and Tenant’s Tax Share and Tenant’s Operating Cost Share, to reflect the portion of the Premises so long as Landlord's award is not reduced therebytaken, if any. (Aiii) Notwithstanding anything to If: (i) ten per cent (10 %) or more of the contrary contained Common Areas of the Building; or (ii) ten per cent (10%) of more of the Building, shall be acquired or condemned as aforesaid, then, at Landlord’s option, the term of this lease shall cease and terminate as of the date of title vesting in Sections 12.1 such proceeding, and 12.2 above, in the event that: (1) the Landlord fails of such termination, rent and additional rent shall be adjusted up to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after and including the date of such physical takingtermination. In event of termination of this Lease as aforesaid, thenTenant shall have no claim against Landlord, nor the condemning authority, for the value of any unexpired term of this Lease. (iv) Landlord shall have and hereby reserves and excepts, and Tenant hereby grants and assigns to Landlord, all rights to any award or compensation accruing on account of any damage, destruction or other “adverse effect” (which latter term shall include both the termination and the appropriation of intangible rights, such as easements, as well as other forms of limitation adversely affecting the interests of any party) suffered by the leasehold hereby created, the Premises, the Building, or any improvement or appurtenance in, on or to any of these, as a result of any circumstances described condemnation or taking by eminent domain or as the result of any act of or pursuant to public authority. Tenant shall execute and deliver to Landlord such confirmatory instruments of this assignment as Landlord may from time to time request. The foregoing reservation and assignment does not include any award separately claimed and payable to Tenant for physical damage to or appropriation of Tenant’s tangible personal property or for moving expenses, on condition, however, that such award shall be payable to Tenant by the taking authority and not by Landlord, and on the further condition that no award to Tenant shall result in subparagraphs (1) or (2) hereof, any reduction in the Tenant, at Tenant's option, may terminate this Lease and amount recoverable from the term and estate hereby grantedtaking authority by Landlord, by notifying any overlessor, by the Landlord in writing holder of such termination within thirty (30) days after the passage any mortgage of the times periods Building, or by any other- person having an interest in subparagraphs (1) and (2) above. In the event that Building other than persons, such a Notice as occupants of termination shall be givenother premises in the Building, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with whose claims for damages rest on the same effect basis and have the same precedence as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 aboveTenant’s claim.

Appears in 1 contract

Sources: Lease Agreement (Social Capital Suvretta Holdings Corp. I)

Eminent Domain. SECTION 12.1. (a) If the whole of all the Premises is acquired or condemned a substantial part thereof shall be taken for any public or quasi-public use under any statute or purposeby rights of eminent domain or by private purchase in lieu thereof, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award paid for any such acquisition taking or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns assigning to Landlord all of its right in Tenant's rights, title and to any such awardinterest therein, if any. Nothing contained in this Section 12.2 herein shall be deemed to prevent give Landlord any interest in or to require Tenant from making a separate claim in to assign to Landlord any condemnation proceedings award made to Tenant for the value taking of any personal property or fixtures belonging to Tenant, for the interruption of or damage to Tenant's business or for Tenant's moving expenses but only if such award shall be in addition to the award for the Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced therebythe Building (or portion thereof) containing the Premises. (Ab) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: If fifty percent (150%) the Landlord fails to commence any repairs, reconstruction or restoration more of the Building other than the Premises shall be condemned, taken or purchased in lieu thereof, then Landlord may terminate this Lease by notifying Tenant of such termination within sixty (60) days after the physical taking date of a portion vesting of title. This Lease shall expire on the date specified in such notice of termination, which date shall be not less than sixty (60) days after the giving of such notice. The rent hereunder shall be apportioned as of such termination date. (c) If more than thirty percent (30%) of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration surface parking area of the Premises Property is condemned, taken or purchased in lieu thereof, either party shall have the right to terminate this Lease upon giving written notice to the other party within one hundred twenty thirty (12030) days of such taking and this Lease shall terminate thirty (30) days after the date of such physical notice. (d) Any such taking, then, as condemnation or temporary requisition which does not result in a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease Lease, as hereinbefore provided in this Subsection 12.3(A) Landlord Paragraph 20, shall not be obligated to reimburse to Tenant a portion cause for any reduction or diminution of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 aboverental payment hereunder.

Appears in 1 contract

Sources: Lease Agreement (Novellus Systems Inc)

Eminent Domain. SECTION 12.1. If 14.1 In case the whole of the Premises, or such part of the Premises or the Building as shall substantially interfere with Tenant’s use and occupancy of the Premises, shall be taken (whether permanent or temporarily for a period that exceeds 30 days) by any lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within sixty (60) days after receipt of notice of such taking, either Tenant or Landlord may terminate this Lease effective as of the date possession is acquired required to be surrendered to said authority. If a portion of the Building or condemned Property is so taken or sold in lieu thereof, which renders the Building or Property economically unviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, or any public or quasi-public use or purposeLandlord’s Mortgagee requires that Landlord terminate this Lease, this Lease and the Term shall end may be terminated by Landlord, as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired under such taking or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or ifsale, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or written notice to Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty sixty (12060) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as following notice to Landlord of the date on which said vesting will occur. Tenant shall not because of termination stated in said Noticesuch taking assert any claim against Landlord, with any Landlord’s Mortgagee or the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent taking authority for any period after compensation because of such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premisestaking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any such acquisition estate or condemnationinterest of Tenant. In the event this Lease is not terminated pursuant to this Section 14.1, but Landlord shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expensethe Building and the Property to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to a condition most suitable for the Permitted Usetime during which, and to the part of the Premises, the Common Area and/or the Parking Facility of which, Tenant is actually deprived of normal and customary use on account of such taking and restoration in substantially the same manner as before the taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall have no claim against continue to be obligated to pay Landlord or for all services and utilities provided to and used by Tenant, if any, during the condemning authority for the value of any unexpired portion period of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such awardRent abatement. Nothing contained in this Section 12.2 shall be deemed to give Landlord any interest in, or prevent Tenant from making seeking a separate claim in any condemnation proceedings for award against the value of any Tenant's Property included in such takingtaking authority for, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease personal property and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse fixtures belonging to Tenant a portion of or for relocation or business interruption expenses recoverable from the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 abovetaking authority.

Appears in 1 contract

Sources: Office Lease (Sailpoint Technologies Holdings, Inc.)

Eminent Domain. SECTION 12.1. 65.01 If the whole of the Premises is acquired Building shall be lawfully taken by condemnation or condemned in any other manner for any public or quasi-public use or purpose, this Lease lease and the Term term and estate hereby granted shall end forthwith terminate as of the date of the vesting of title with in such taking (which date is hereinafter also referred to as the same effect "date of the taking"), and the rents shall be prorated and adjusted as if said date were the Fixed Expiration Date. of such date. 65.02 If only a part of the Premises is Building shall be so acquired or condemned thentaken, this lease shall be unaffected by such taking, except as hereinafter provided that Tenant may elect to terminate this lease in the event of a partial taking, if the remaining area of the Demised Premises shall not be reasonably sufficient for Tenant to continue feasible operation of its business. Tenant shall give notice of such election to Landlord not later than thirty (30) days after (i) notice of such taking is given by Landlord to Tenant, or (ii) the date of such taking, whichever occurs later. Upon the giving of such notice by Tenant this Section 12.1, this Lease lease shall terminate on the date of such taking and the Term rents shall continue be prorated as of such termination date. Upon such partial taking and this lease continuing in effect but, if a force as to any part of the Premises is so acquired or condemned, from and after the date of the vesting of titleDemised Premises, the Fixed Rent Rental and Additional Rent, if any, Tenant's Proportionate Share shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease prorated and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire adjusted as of the date of termination stated in said Notice, with the same effect as if that taking and from such date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent and Tax Payment shall be apportioned as of prorated and payable pursuant to Articles 41 and 42 according to the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenantrentable area remaining. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, 65.03 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 such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair estate vested in Tenant by this lease and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have receive no claim against Landlord or the condemning authority for the value part of any unexpired portion of the Term and such award, except as hereinafter expressly provided in this Article. Tenant hereby expressly assigns to Landlord all of its right right, title and interest in and or to any every such award. Nothing contained in this Section 12.2 shall be deemed Notwithstanding anything herein to prevent the contrary, Tenant from making may, at its sole cost and expense, make a separate claim in any condemnation proceedings with the condemning authority for Tenant's moving expenses, the value of any Tenant's Property included in such takingfixtures or Tenant's Changes which do not become part of the Building or property of the Landlord, and for any moving expenses, so long as provided however that Landlord's award is not thereby reduced therebyor otherwise adversely affected. 65.04 If the temporary use or occupancy of all or any part of the Demised Premises shall be lawfully taken by condemnation or in any other manner for any public or quasi-public use or purpose during the term of this lease, Tenant shall be entitled, except as hereinafter set forth, to receive that portion of the award for such taking which represents compensation for the use and occupancy of the Demised Premises and, if so awarded, for the taking of Tenant's Property and for moving expenses, and Landlord shall be entitled to receive that portion which represents reimbursement for the cost of restoration of the Demised Premises. This lease shall be and remain unaffected by such taking and Tenant shall continue responsible for all of its obligations hereunder insofar as such obligations are not affected by such taking and shall continue to pay in full the Fixed Rental and Additional Rent when due. If the period of temporary use or occupancy shall extend beyond the Expiration Date, that part of the award which represents compensation for the use or occupancy of the Demised Premises (Aor a part thereof) Notwithstanding anything shall be divided between Landlord and Tenant so that Tenant shall receive so much thereof as represents the period prior to the contrary contained Expiration Date and Landlord shall receive so much thereof as represents the period subsequent to the Expiration Date. All moneys received by Tenant as, or as part of, an award for temporary use and occupancy for a period beyond the date to which the rents hereunder have been paid by Tenant shall be received, held and applied by Tenant as a trust fund for payment of the rents falling due hereunder. 65.05 In the event of any taking of less than the whole of the Building or the demised premises which does not result in Sections 12.1 and 12.2 abovea termination of this lease, or in the event that: (1) the Landlord fails to commence of a taking for a temporary use or occupancy of all or any repairs, reconstruction or restoration part of the Demised Premises within sixty (60) days after which does not extend beyond the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, Landlord, at its expense, shall proceed with reasonable diligence to repair, alter and restore the remaining parts of the Building and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated Demised Premises to reimburse to Tenant substantially a portion of the cost of any Maintenance Repair or Requirement Alterations building standard condition to the extent required that the same may be feasible and so as to constitute a complete and tenantable Building and Demised Premises. 65.06 Any dispute which may arise between the parties with respect to the meaning or application of any of the provisions of this Article shall be determined by Section 7.1 abovearbitration in the manner provided in Article 60.

Appears in 1 contract

Sources: Lease Agreement (Sonesta International Hotels Corp)

Eminent Domain. SECTION 12.1. (i) If the whole of the Premises is shall be acquired or condemned by eminent domain for any public or quasi-public use or purpose, this then the Lease and the Term shall end cease and terminate as of the date of the title vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease such proceeding and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed all Base Rent and Additional Rent, if any, additional rent shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears paid up to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event including that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Usedate. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion term of this Lease. (ii) If any part of the Term Premises and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 /or the Building shall be deemed acquired or condemned as aforesaid, and in the event that such partial taking or condemnation shall render the Premises unsuitable for the business of Tenant, then the Lease Term shall cease and terminate as of the date of title vesting in such proceeding, and in the event of such termination, Base Rent and additional rent shall be adjusted up to prevent and including the date of such termination. Tenant from making a separate shall have no claim in any condemnation proceedings against Landlord for the value of any unexpired term of this Lease. In the event of a partial taking or condemnation which is not extensive enough to render the Premises unsuitable for the business of Tenant's Property included , then Landlord shall promptly restore the Premises (including Landlord’s Work, but not Tenant’s improvements) ,to a condition comparable to its condition at the time of such condemnation less the portion lost in such the taking, and for any moving expensesthis Lease shall continue in full force and effect, but there shall be an equitable adjustment in Base Rent and Tenant’s Tax Share and Tenant’s Operating Cost Share, to reflect the portion of the Premises so long as Landlord's award is not reduced therebytaken, if any. (Aiii) Notwithstanding anything to If: (i) ten per cent (10 %) or more of the contrary contained Common Areas of the Building; or (ii) ten per cent (10%) of more of the Building, shall be acquired or condemned as aforesaid, then, at Landlord’s option, the term of this lease shall cease and terminate as of the date of title vesting in Sections 12.1 such proceeding, and 12.2 above, in the event that: (1) the Landlord fails of such termination, rent and additional rent shall be adjusted up to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after and including the date of such physical takingtermination. In event of termination of this Lease as aforesaid, thenTenant shall have no claim against Landlord, nor the condemning authority, for the value of any unexpired term of this Lease. (iv) Landlord shall have and hereby reserves and excepts, and Tenant hereby grants and assigns to Landlord, all rights to any award or compensation accruing on account of any damage, destruction or other “adverse effect” (which latter term shall include both the termination and the appropriation of intangible rights, such as easements, as well as other forms of limitation adversely affecting the interests of any party) suffered by the leasehold hereby created, the Premises, the Building, or any improvement or appurtenance in, on or to any of these, as a result of any circumstances described condemnation or taking by eminent domain or as the result of any act of or pursuant to public authority. Tenant shall execute and deliver to Landlord such confirmatory instruments of this assignment as Landlord may from time to time request. The foregoing reservation and assignment does not include any award separately claimed and payable to Tenant for physical damage to or appropriation of Tenant’s tangible personal property or for moving expenses, on condition, however, that such award shall be payable to Tenant by the taking authority and not by Landlord, and on the further condition that no award to Tenant shall result in subparagraphs (1) or (2) hereof, any reduction in the Tenant, at Tenant's option, may terminate this Lease and amount recoverable from the term and estate hereby grantedtaking authority by Landlord, by notifying any overlessor, by the Landlord in writing holder of such termination within thirty (30) days after the passage any mortgage of the times periods Building, or by any other person having an interest in subparagraphs (1) and (2) above. In the event that Building other than persons, such a Notice as occupants of termination shall be givenother premises in the Building, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with whose claims for damages rest on the same effect basis and have the same precedence as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 aboveTenant’s claim.

Appears in 1 contract

Sources: Lease Agreement (Social Capital Suvretta Holdings Corp. I)

Eminent Domain. SECTION 12.122.01. If the whole of the Premises is acquired Building shall be lawfully taken by condemnation or condemned in any other manner for any public or quasi-public use or of purpose, this Lease and the Term term and estate hereby granted shall end forthwith terminate as of the date of vesting of title on such taking (which date is herein after also referred to as the "date of the taking"), and the rents shall be prorated and adjusted as of such date. 22.02. If any part of the Building shall be so taken, this Lease shall be unaffected by such taking, except that Tenant may elect to terminate this Lease in the event of a partial taking, if the area of the Demised Premises remaining would materially restrict, limit or otherwise adversely affect the use, occupancy or enjoyment of Tenant of the Demised Premises. Tenant shall give notice of such election to Landlord not later than seventy-five (75) days after the date of such taking. Upon the giving of such notice to Landlord, this Lease shall terminate on the date of service of notice and the rents apportioned to the part of the Demised Premises so taken shall be prorated and adjusted as of the date of the vesting taking and the rents apportioned to the remainder of title with the same effect Demised Premises shall be prorated and adjusted as if said date were the Fixed Expiration Dateof such termination date. If only a Upon such partial taking and this Lease continuing in force as to any part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of titleDemised Premises, the Fixed Rent and Additional Rent, if any, rents apportioned to the part taken shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease prorated and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire adjusted as of the date of termination stated in said Notice, with taking and from such date the same effect as if that date were fixed rent shall be reduced to the Fixed Expiration Date. In amount apportioned to the event remainder of any termination of this Lease the Demised Premises and the Term additional rent shall be payable pursuant to Article 5 according to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenantrentable area remaining. SECTION 12.222.03. In the event of any such acquisition or condemnation of all or any part of the PremisesExcept as specifically set forth in Section 22.04. hereof, 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 such acquisition or condemnationestate vested in Tenant by this Lease, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have receive no claim against Landlord or the condemning authority for the value part of any unexpired portion of the Term and such award. Tenant hereby expressly assigns to Landlord all of its right right, title, and interest in and or to any every such award. 22.04. Nothing contained in this Section 12.2 If the temporary use or occupancy of all or any part of the Demised Premises shall be deemed to prevent Tenant from making a separate claim lawfully taken by condemnation or in any condemnation proceedings other manner for any public or quasi-public use or purpose during the term of this Lease, Tenant shall be entitled, except as hereinafter set forth, to receive any award which does not serve to diminish Landlord's award in any respect and, if so awarded, for the value taking of any Tenant's Property included and for moving expenses, and Landlord shall be entitled to receive that portion which represents reimbursement for the cost of restoration of the Demised Premises. This Lease shall be and remain unaffected by such taking and Tenant shall remain responsible for all of its obligations hereunder insofar as such obligations are not affected by such taking and shall continue to pay in full the fixed rent and additional rent when due. If the period of temporary use or occupancy of the Demised Premises (or a part thereof shall be divided between Landlord and Tenant so that Tenant shall receive so much thereof as represents the period prior to the Expiration Date and Landlord shall receive so much thereof as represents the period subsequent to the Expiration Date. All moneys received by Tenant as, or as part of, an award for temporary use and occupancy for a period beyond the date to which the rents hereunder have been paid by Tenant shall be received, held, and applied by Tenant as a trust fund for payment of the rents falling due hereunder. 22.05. In the event of any taking of less than the whole of the Building which does not result in a termination of this Lease, or in the event of a taking for a temporary use or occupancy of all or any part of the Demised Premises which does not extend beyond the Expiration Date, Landlord, at its expense, shall proceed with reasonable diligence to repair, alter, and restore the remaining parts of the Building and the Demised Premises to substantially their former condition to the extent that the same may be feasible and so as to constitute a complete and tenantable Building and Demised Premises provided that Landlord's liability under this Section 22.05 shall be limited to the net amount (after deducting all costs and expenses, including, but not limited to, legal expenses incurred in connection with the eminent domain proceeding) received by Landlord as an award arising out of such taking. If such taking occurs within the last three (3) years of the term of this Lease, Landlord shall have the right to terminate this Lease by giving the Tenant written notice to such effect within ninety (90) days after such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, this Lease shall then expire on that effective date stated in the event that: (1) notice as if that were the Landlord fails to commence any repairsExpiration Date, reconstruction or restoration of but the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease fixed rent and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination additional rent shall be given, then this Lease prorated and the term and estate hereby granted shall expire adjusted as of the date of termination stated such taking. 22.06. Should any part of the Demised Premises be taken to effect compliance with any law or requirement of public authority other than in said Notice with the same effect as manner hereinabove provided in this Article then, (i) if that date were such compliance is the Fixed Expiration Dateobligation of Tenant under this Lease, and Tenant shall not be entitled to any diminution or abatement of rent or other compensation from Landlord therefor, but (ii) if such compliance is the Fixed Rent and Additional Rent obligation of Landlord under this Lease, the fixed rent hereunder shall be apportioned reduced and additional rents under Article 5 shall be adjusted in the same manner as is provided in Section 22.02 according to the reduction in rentable area of the Demised Premises resulting from such datetaking. 22.07. Notwithstanding Any dispute which may arise between the termination parties with respect to the meaning or application of any of the provisions of this Lease as Article shall be determined by arbitration in the manner provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 aboveArticle 33.

Appears in 1 contract

Sources: Lease Agreement (Intelligroup Inc)

Eminent Domain. SECTION 12.1. Section 13.1 If the whole (a) all of the floor area of the Premises, or so much thereof as shall render the Premises is wholly untenantable, shall be acquired or condemned for any public or quasi-public use or purpose, or (b) a portion of the Real Property, not including the Premises, shall be so acquired or condemned, but by reason of such acquisition or condemnation, Tenant no longer has means of access to the Premises, then this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Article 13, Fixed Rent and Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of Fixed Rent or Additional Rent for any period after such date shall be refunded by Landlord to Tenant. Section 13.2 In the event of any such acquisition or condemnation of all or any part of the Real Property, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term or Tenant’s Alterations, and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 13.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the then value of any Tenant’s Property included in such taking and for any moving expenses, provided such award shall be made by the condemning authority in addition to, and shall not result in a reduction of, the award made by it to Landlord. Section 13.3 If only a part of the Premises is Real Property shall be so acquired or condemned then, except as hereinafter provided in this subject to Section 12.113.1, this Lease and the Term shall continue in effect but, if force and effect. If a part of the Premises is shall be so acquired or condemnedcondemned and this Lease and the Term shall not be terminated, from Landlord, at Landlord’s expense, shall restore that part of the Premises not so acquired or condemned so as to constitute tenantable Premises. From and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, Rent shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 above.

Appears in 1 contract

Sources: Lease Agreement (Rackspace Inc)

Eminent Domain. SECTION 12.1. A. If the whole of the Building or Premises is acquired law-fully taken by condemnation or condemned in any other manner for any public or quasi-public use or purpose, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything Rent shall be prorated to such date. If less than the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration whole of the Building or Premises is so taken, this Lease shall be unaffected by such taking, provided that (i) Tenant shall have the right to terminate this Lease by notice to Landlord given within sixty ninety (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (12090) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs taking if twenty percent (120%) or more of the Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (2ii) hereof, Landlord shall have the Tenant, at Tenant's option, may right to terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination notice to Tenant given within thirty ninety (3090) days after the passage date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall terminate on the thirtieth (30th) day after either such notice. The Rent shall be prorated to the date of termination. If this Lease continues in force upon such partial taking, the Base Rent and Tenant's Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the times periods in subparagraphs (1) Premises and (2) above. Project. B. In the event that such a Notice of termination any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be giventhe exclusive property of Landlord, then this Lease and Tenant hereby assigns to Landlord al1 of its right, title and interest in any award, judgment or settlement from the condemning authority. Tenant, however, shall be entitled to any separate award for loss of or damage to Tenant's trade fixtures, removable personal property and unamortized Tenant improvements that have been paid for by Tenant. For that purpose, the cost of such improvements shall be amortized over the original term and estate hereby granted shall expire as of the date Lease, excluding any options. C. In the event of termination stated a partial taking of the Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the cost of any Maintenance Repair Premises as nearly as practicable to its condition prior to the condemnation or Requirement Alterations taking, but only to the extent required by Section 7.1 aboveof Building Standard Work. Tenant shall be responsible at its sole cost and-- expense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant's Property.

Appears in 1 contract

Sources: Office R&d Lease (Protein Polymer Technologies Inc)

Eminent Domain. SECTION 12.1. 25.01 If the whole of the Demised Premises is acquired or condemned for shall be taken by any public or quasi-public use authority under the power of condemnation, eminent domain or purposeexpropriation, or in the event of conveyance of the whole of the Demised Premises in lieu thereof, this Lease and the Term shall end terminate as of the date day possession shall be taken by such authority. If fifteen percent (15%) or less of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part Floor Space of the Premises is Building shall be so acquired taken or condemned then, except as hereinafter provided in this Section 12.1conveyed, this Lease and shall terminate only in respect of the Term part so taken or conveyed as of the day possession shall be taken by such authority. If more than fifteen percent (15%) of the Floor Space of the Building shall be so taken or conveyed, this Lease shall terminate only in respect of the part so taken or conveyed as of the day possession shall be taken by such authority, but either party shall have the right to terminate this Lease upon notice given to the other party within thirty (30) days after taking such possession. If so much of the parking facilities shall be so taken or conveyed that the number of parking spaces necessary, for the continued operation of the Demised Premises shall not be available, Tenant may, by notice to Landlord, terminate this Lease as of the day possession shall be taken. If this Lease shall continue in effect but, if a part as to any portion of the Demised Premises is not so acquired taken or condemned, from and after the date of the vesting of titleconveyed, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises Building so acquired or condemned bears to the total area of the Premises Building immediately prior to such acquisition or condemnation. If Except as specifically provided herein, in the part event of the Premises acquired any such taking or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises conveyance there shall be rendered wholly or substantially unsuitable for no reduction in Rent. If this Lease shall be terminated in accordance with the Permitted Useprovisions of this Section 25.01, then either Landlord or Tenant may terminate 41 45 this Lease and the Term shall come to an end and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Noticethe taking, with the same effect as if that such date were the Fixed Expiration Date. In the event of any termination of this Lease , and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner such termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. Notwithstanding the foregoing, however, if this Lease shall be terminated by reason of a taking of the whole of the Demised Premises or by reason of Tenant electing to terminate this Lease pursuant to the provisions hereof, and if Landlord, within five (5) days after such taking or after notice of such election is given by Tenant, Landlord shall offer to relocate Tenant's entire operation located at the Demised Premises to other premises located in the Lincoln Harbor Project, which other premises shall be of comparable size and quality and Landlord in fact shall so relocate Tenant within ninety (90) days (or such shorter period as may be possible and provided that Landlord shall use its best efforts) after notice of such election, then either such Termination shall be deemed to be rescinded and of no further force or effect and Tenant's obligations hereunder shall remain unaffected. In the event case of such relocations, Fixed Rent, Tenants' Fraction, Tenants' Proportionate Share, if applicable, and Operating Expenses shall be equitably adjusted based upon the floor space of such other premises. If this Lease shall continue in effect, Landlord shall, at its expense, but shall be obligated only to the extent of the net award or other compensation (after deducting all expenses in connection with obtaining same) available to Landlord for the improvements taken or conveyed (excluding any award or other compensation for land or for the unexpired portion of the term of any Superior Lease), make all necessary alterations so as to constitute the remaining Building a complete architectural and tenantable unit, except for the Tenant's Property, and Tenant shall make all alterations or replacements to the Tenant's Property and decorations in the Building. All awards and compensation for any taking or conveyance, whether for the whole or a part of the Land or Building or otherwise, shall be property of Landlord, and Tenant hereby assigns to Landlord all of Tenant's right, title and interest in and to any and all such acquisition awards and compensation. Tenant shall be entitled to claim, prove and receive in the condemnation proceeding such award or condemnation compensation as may be allowed for the Tenant's Property, Tenant's trade fixtures and for loss of business, goodwill, moving and depreciation or injury to and cost of removal of the Tenant's Property, to the 42 46 extent such award or compensation shall be made by the condemning authority in addition to, and shall not result in a reduction of, the award or compensation made by it to Landlord. 25.02 If the temporary use or occupancy of all or any part of the Demised Premises shall be taken during the Term, Tenant shall be entitled, except as hereinafter set forth, to receive that portion of the award or payment for such taking which represents compensation for the use and occupancy of the Demised Premises, for the taking of the Tenant's Property and for moving expenses, and Landlord shall be entitled to receive that portion which represents reimbursement for the entire award for any such acquisition or condemnation, but cost of restoration of the Demised Premises. This Lease shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. remain unaffected by such taking and Tenant shall have no claim against Landlord or the condemning authority continue responsible for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right obligations hereunder insofar as such obligations are not affected by such taking and shall continue to pay the Rent in full when due. If the period of temporary use or occupancy shall extend beyond the Expiration Date, that part of the award or payment which represents compensation for the use and to any such award. Nothing contained in this Section 12.2 occupancy of the Demised Premises (or a part thereof) shall be deemed to prevent divided between Landlord and Tenant from making a separate claim in any condemnation proceedings so that Tenant shall receive (except as otherwise provided below) so much thereof as represents compensation for the value of any Tenant's Property included in such taking, period up to and including the Expiration Date and Landlord shall receive so much thereof as represents compensation for any moving expenses, so long as Landlord's award is not reduced therebythe period after the Expiration Date. (A) Notwithstanding anything 25.03 In the event the premises leased pursuant to the contrary contained Office Lease are taken or such portions of said facilities are taken resulting in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration a termination of the Premises within sixty (60) days after Office Lease and the physical taking tenant under the Office Lease shall be Tenant or an affiliate of a portion of the Premises; or (2) Landlord fails complete all repairsTenant, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the then Tenant, at Tenant's option, may shall have the right to terminate this Lease and on the term and estate hereby granteddate specified in such notice of election, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination which date shall be given, then this Lease and the term and estate hereby granted shall expire as of not less than six (6) months nor more than eighteen (18) months from the date of termination stated in said Notice with such notice; provided, however, that Tenant shall have the same effect as if that date were right to continue its occupancy of the Fixed Expiration Date, and Demised Premises subject to the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination terms of this Lease as provided in this Subsection 12.3(Aon a month-to-month basis (not to exceed twelve (12) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 abovemonths) until suitable moving arrangements are made.

Appears in 1 contract

Sources: Lease Agreement (Paine Webber Group Inc)

Eminent Domain. SECTION 12.1. If A. In the whole of event the Premises is acquired lawfully condemned or condemned taken for any public or quasi-public use or purposeuse, this Lease shall forthwith cease and terminate as of the Term date of vesting of title. B. In the event that a part of the Premises or the Building shall end be so condemned or taken, resulting in Tenant's liability to use the remainder of the Premises for the use permitted under this Lease, then (a) Landlord may, at its option, terminate this Lease as of the date of such vesting of title by notifying Tenant in writing of such termination within ninety (90) days following the date on which Landlord shall have received notice of vesting of title, and (b) Tenant shall have the right, by delivery of notice in writing to Landlord within ten (10) days following the date on which Tenant shall have received notice of vesting of title, to terminate this Lease as of the date of the vesting of title with title. C. In the same effect as if said date were event that any partial condemnation or taking does not prevent Tenant from using the Fixed Expiration DatePremises for the uses permitted under this Lease, then the Lease shall remain unaffected by such condemnation or taking, except that the rents due hereunder shall be abated in an amount apportioned according to the part of the Premises so taken or condemned. If In the event that only a part of the Premises is shall be so acquired condemned or condemned then, except as hereinafter provided in this Section 12.1, taken and this Lease and is not terminated, Landlord will, at its expense, restore the Term shall continue in effect but, if a part remaining portion of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears premises as nearly as practicable to the total area of the Premises immediately same condition as it was in prior to such acquisition condemnation or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. taking. D. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent condemnation or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation taking of all or any a part of the PremisesBuilding, Landlord shall be entitled to receive the entire award for in the condemnation proceeding, including any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority award made for the value of any unexpired portion of the Term estate vested by this Lease in Tenant, and Tenant hereby expressly assigns to Landlord any and all right, title, and interest of its right Tenant now or hereafter arising in and or to any such award. Nothing contained in this Section 12.2 award or any part thereof, and Tenant shall be deemed entitled to prevent receive no part of such award, except that Tenant from making may file a separate claim in for any condemnation proceedings for the value taking of any Tenant's Property included in such taking, removable fixtures owned by Tenant and for any moving expenses, so long as Landlord's award is not reduced therebyexpenses incurred by Tenant. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 above.

Appears in 1 contract

Sources: Commercial Lease Agreement (Global Datatel Inc)

Eminent Domain. SECTION 12.1. 25.1 If the whole of the Premises is shall be acquired or condemned for any public or quasi-public use or purpose, this Lease and the Lease Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Datedate of expiration of the Lease Term. If only a part of the Premises is shall be so acquired or condemned condemned, then, except as hereinafter otherwise provided in this Section 12.1Article, this Lease and the Lease Term shall continue in force and effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Base Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. . 25.2 If the any part of the Premises Building shall be acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises for any public or ifquasi-public use or purpose, and by reason of such acquisition or condemnation, Landlord, in Landlord's reasonable judgment, deems it necessary for the soundest use of the land upon which the Building is situated to terminate this Lease, then (except in the case of a di minimis acquisition which has no effect on the operation of the Building), whether or not the Premises shall be rendered wholly affected thereby, Landlord, at Landlord's option, may give to Tenant, at any time thereafter, fifteen (15) days' notice of termination of this Lease. If the part of the Building so acquired or substantially unsuitable condemned shall contain more than ten percent (10%) of the total area of the Premises immediately prior to such acquisition or condemnation, or if Tenant no longer has reasonable means of access to the Premises, or if more than twenty-five per cent (25%) of the office space available for lease in the Permitted UseBuilding shall be so acquired or condemned, then either Landlord or Tenant then, in any such event, Tenant, at Tenant's option, may terminate this Lease and the Term and estate hereby grantedgive to Landlord, by notifying the other party in writing of such termination within one hundred twenty sixty (12060) days after next following the date upon which Tenant receives Notice shall have received notice of vesting of title, fifteen (15) days' notice of termination of this Lease. In the event that any such Notice fifteen (15) day notice of termination shall be is given, then by Landlord or Tenant, this Lease and the Lease Term shall come to an end and estate hereby granted shall expire as upon the expiration of the date of termination stated in said Notice, fifteen (15) days with the same effect as if that the date of expiration of said fifteen (15) days were the Fixed Expiration Datedate for the expiration of the Lease Term. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1Section, the Fixed Base Rent or Additional Rent and additional rent shall be apportioned as of the date of sooner such termination and any prepaid portion of the Fixed Base Rent and additional rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.225.3 If a part of the Premises shall be so acquired or condemned and this Lease and the Lease Term shall not be terminated pursuant to the foregoing provisions, Landlord, at Landlord's expense, shall restore that part of the Premises not acquired or condemned as nearly as practicable to its condition prior to such acquisition or condemnation, but Landlord shall have no obligation to repair or restore any of Tenant's leasehold improvements or trade fixtures. Notwithstanding the foregoing, Landlord shall not have any obligation whatsoever to restore the Premises unless the condemnation award, if any, is sufficient to cover the cost of such restoration. 25.4 In the event of any such acquisition or condemnation of all or any part of the Building (including, without limitation, all or part of the Premises), Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term Lease Term, and Tenant Ten ant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing herein contained in this Section 12.2 shall be deemed to prevent pre clude Tenant from making a separate claim in any condemnation proceedings an application for an award for the value of any Tenant's Property included in such taking, the trade fixtures and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of leasehold improvements at the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required owned by Section 7.1 aboveTenant, or for Tenant's relocation expenses.

Appears in 1 contract

Sources: Lease Agreement (Renal Care Group Inc)

Eminent Domain. SECTION 12.120.01. If the whole of the Premises is acquired Building shall be taken by condemnation or condemned in any other manner for any public or quasi-public use or purpose, this Lease and the Term term and estate hereby granted shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part on such taking (herein called "Date of the Premises is so acquired or condemned thenTaking"), except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, Charges shall be reduced prorated and adjusted as of such date. 20.02. If more than forty (40%) percent of the Building shall be so taken, this Lease shall be unaffected by such taking, except that either Landlord or Tenant may, at Landlord's or Tenant's option, terminate this Lease by giving the other party notice to that effect within ninety (90) days after the Date of the Taking. This Lease shall terminate on the date specified in such notice from Landlord or Tenant to the other, provided that such date shall be not more than ninety (90) days after the giving of such notice, and the Fixed Rent and Additional Charges shall be prorated and adjusted as of such termination date. Upon such partial taking and this Lease continuing in force as to any part of the Premises, the Fixed Rent shall be reduced: (i) in the proportion which that the area of the part of the Office Premises so acquired or condemned taken bears to the total area of the Office Premises immediately prior to such acquisition or condemnation. If and (ii) in the part proportion that the area of the Retail Premises acquired or condemned contains more than fifty percent (50%) taken bears to the total area of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to TenantRetail Premises. SECTION 12.220.03. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award or payment in connection with any taking without deduction therefrom for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair estate vested in Tenant by this Lease and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have receive no claim against Landlord or the condemning authority for the value part of any unexpired portion of the Term and such award except as hereinafter expressly provided in this Article 20. Tenant hereby expressly assigns to Landlord all of its right right, title and interest in and to any every such award. Nothing contained in this Section 12.2 award or payment; provided, however, that Tenant shall be deemed have the right to prevent Tenant from making make a separate claim in for its moving expenses and to the extent the award otherwise payable to Landlord shall not be diminished thereby, for any condemnation proceedings for the value of any Tenant's Property included taken. 20.04. If the temporary use or occupancy of all or any part of the Premises shall be taken by condemnation or in any other manner for any public or quasi-public use or purpose during the term of this Lease, Tenant shall be entitled, except as hereinafter set forth, to receive that portion of the award or payment for such takingtaking which represents compensation for the use and occupancy of the Premises, for the taking of Tenant's Property and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything and Landlord shall be entitled to receive that portion which represents reimbursement for the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or cost of restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this . This Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term remain unaffected by such taking and estate hereby granted Tenant shall expire continue to be responsible for all of its obligations hereunder insofar as of the date of termination stated such obligations are not affected by such taking and shall continue to pay in said Notice with the same effect as if that date were the Fixed Expiration Date, and full the Fixed Rent and Additional Rent hereunder Charges when due. If the period of temporary use or occupancy shall extend beyond the Expiration Date of this Lease, that part of the award which represents compensation for the use and occupancy of the Premises (or a part thereof) shall be apportioned divided between Landlord and Tenant so that Tenant shall receive so much thereof as represents the period up to and including such Expiration Date and Landlord shall receive so much thereof as represents the period after such Expiration Date. All monies paid as, or as part of, an award for temporary use and occupancy for a period beyond the date to which the Fixed Rent and Additional Charges have been paid shall be received, held and applied by Landlord as a trust fund for payment of the Fixed Rent and Additional Charges becoming due hereunder, and if Landlord fails to apply such funds against the Fixed Rent and Additional Charges becoming due hereunder and such failure continues for twenty (20) days after Tenant has notified Landlord and any Superior Mortgagee or Superior Lessor whose name and address shall have previously have been furnished to Tenant of such datefact, then Tenant shall have the right to offset the amount of such funds against the Fixed Rent and Additional Charges thereafter becoming due hereunder. 20.05. Notwithstanding In the event of a taking of less than the whole of the Building and/or the Land which does not result in termination of this Lease as provided Lease, or in the event of a taking for a temporary use or occupancy of all or any part of the Premises which does not result in a termination of this Subsection 12.3(ALease, (a) Landlord Landlord, at its expense, and whether or not any award or awards shall be obligated sufficient for the purpose, shall proceed with reasonable diligence to reimburse to Tenant a portion repair the remaining parts of the cost of any Maintenance Repair or Requirement Alterations Building (other than Tenant's Property) to substantially their former condition to the extent required by Section 7.1 above.that the same may be feasible (subject to reasonable changes which Landlord shall deem desirable) and so as to constitute a complete and rentable Building and (b) Tenant, at its expense, and whether or not any award or awards shall be sufficient for the purpose, shall proceed with reasonable diligence to repair Tenant's Property to substantially its former condition to the extent that the same may be feasible, subject to reasonable changes which shall be deemed Alterations. 100

Appears in 1 contract

Sources: Lease Agreement (Corporate Property Associates 15 Inc)

Eminent Domain. SECTION 12.1. (a) If the whole of the Building or Premises is acquired condemned or condemned in any other manner taken for any public or quasi-public use or purpose, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Datesuch condemnation and Rent shall be prorated to such date. If only a part less than the whole of the Building or Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1taken, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to unaffected by such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent taking, provided that (50%I) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns right to terminate this lease by notice to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. given within ninety (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (12090) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs taking if twenty percent (120%) or more of the Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (2) hereof, Landlord shall have the Tenant, at Tenant's option, may right to terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination notice to Tenant given within thirty ninety (3090) days after the passage date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall terminate on the thirtieth (30th) day after either such notice. The Rent shall be prorated to the date of termination. If this Lease continues in force upon such partial taking, the Base Rent and ▇▇▇▇▇▇’s Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the times periods in subparagraphs Premises and Project. (1b) and (2) above. In the event that such a Notice of termination any taking, partial or whole, all the proceeds of any award, judgment or settlement payable by the condemning authority shall be giventhe exclusive property of Landlord, then this Lease and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment, or settlement from the term condemning authority. Tenant, however, shall have the right, to the extent that Landlord’s award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and estate hereby granted shall expire as damage to ▇▇▇▇▇▇’s Property. (c) In the event of a partial taking of the date of termination stated Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the cost of any Maintenance Repair Premises as nearly as reasonably practicable to its condition prior to the condemnation or Requirement Alterations taking, but only to the extent required by Section 7.1 aboveof the Work. Tenant shall be responsible, at its sole cost and expense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant’s Property.

Appears in 1 contract

Sources: Office Building Lease (Cardio Diagnostics Holdings, Inc.)

Eminent Domain. SECTION 12.114.1. If In the event that the whole of the Premises is acquired demised premises shall be lawfully condemned or condemned taken in any manner for any public or quasi-public use or purpose, this Lease and the Term term and estate hereby granted shall end forthwith cease and terminate as of the date of the vesting of title with (herein called the same effect as if said date were of taking”), and Tenant shall have no claim against Landlord for, or make any claim for the Fixed Expiration Date. If only a part value of the Premises is so acquired or condemned thenany unexpired term of this Lease, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from fixed annual rent and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, additional rent shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason apportioned as of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of titledate. 14.2. In the event that such Notice any part of termination the demised premises shall be givenso condemned or taken, then this Lease shall be and remain unaffected by such condemnation or taking, except that the Term fixed annual rent and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease additional rent under Articles 4 and the Term pursuant 5 hereof allocable to the provisions of this Section 12.1, the Fixed Rent or Additional Rent part so taken shall be apportioned as of the date of sooner termination and any prepaid portion taking; provided, however, that Tenant may elect to cancel this Lease in the event that more than twenty-five (25%) percent of the Fixed Rent for any period demised premises should be so condemned or taken or Tenant no longer has reasonable means of access to the demised premises, provided such notice of election is given by Tenant to Landlord not later than sixty (60) days after the date when title shall vest in the condemning authority. Upon the giving of such notice, this Lease shall terminate on the thirtieth (30th) day following the date of such notice and the fixed annual rent and additional rent shall be refunded apportioned as of such termination date. Upon such partial taking and this Lease continuing in force as to any part of the demised premises, the fixed annual rent and additional rent under Articles 4 and 5 hereof shall be diminished by an amount representing the part of the fixed annual rent and additional rent properly applicable to the portion or portions of the demised premises which may be so condemned or taken. If as a result of the partial taking (and this Lease continuing in force as to the part of the demised premises not so taken), any part of the demised premises not taken is damaged, Landlord agrees with reasonable promptness, at Landlord’s sole cost and expense, to Tenant. SECTION 12.2do the work necessary to restore the damaged portion to the condition existing immediately prior to the taking, and prosecute the same with reasonable diligence to its completion. In the event Landlord and Tenant are unable to agree as to the amount by which the fixed annual rent and additional rent shall be diminished, the matter shall be determined by arbitration in accordance with the provisions of any Article 33 of this Lease. Pending such acquisition or condemnation of all or any part of determination, Tenant shall pay to Landlord the Premisesfixed annual rent and additional rent as fixed by Landlord, subject to adjustment in accordance with the arbitration. 14.3. Except as otherwise expressly provided in Section 14.5 hereof, Landlord shall be entitled to receive the entire award or payment in connection with any taking without deduction therefrom for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair estate vested in Tenant by this Lease and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have receive no claim against Landlord or the condemning authority for the value part of any unexpired portion of the Term and such award except as hereinafter expressly provided in this Article 14. Tenant hereby expressly assigns to Landlord all of its right right, title and interest in and to any every such award. Nothing contained in this Section 12.2 award or payment; provided, however, that Tenant shall be deemed have the right to prevent Tenant from making make a separate claim in any condemnation proceedings for its moving expenses and to the value of any Tenant's Property included in such takingextent the award otherwise payable to Landlord shall not be diminished thereby, and for any moving expenses, so long as Landlord's award is not reduced therebyof Tenant’s Property taken. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above14.4. In the event that such a Notice more than twenty-five (25%) percent of termination the demised premises shall be given, then this Lease so taken and the term and estate hereby granted Tenant shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of not have elected to cancel this Lease as provided in this Subsection 12.3(A) Landlord above provided, the entire award for a partial taking shall be obligated paid to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations Landlord, and (a) Landlord, at Landlord’s own expense, shall to the extent required by of the net proceeds (after deducting reasonable expenses including attorneys’ and appraisers’ fees and disbursements) of the award restore the unaffected part of the demised premises (other than those parts of the demised premises which are deemed Landlord’s property pursuant to Section 7.1 above.8.11 hereof and Tenant’s Property) to substantially the same condition and tenantability as existed prior to the taking to the extent the same may be feasible (subject to reasonable changes which Landlord shall deemed desirable) and (b) Tenant, at its expense, shall proceed with reasonable diligence to repair the remaining parts of the demised premises which are deemed Landlord’s property pursuant to Section 8.11 hereof and Tenant’s Property, to substantially their former condition to the extent that the same may be feasible, subject to reasonable changes which shall be deemed Alterations. Until said unaffected portion is restored, Tenant shall be entitled to a proportionate abatement of fixed annual rent and additional rent under Articles 4 and 5 hereof for that

Appears in 1 contract

Sources: Lease Agreement (Blackrock Inc /Ny)

Eminent Domain. SECTION 12.1. 16.1 If the whole all of the Premises is acquired are condemned or condemned taken in any manner for any public or quasi-public use use, including, but not limited to, a conveyance or purposeassignment in lieu of a condemnation or taking, this Lease and shall automatically terminate as of the Term shall end as earlier of the date of the vesting of title with or the same effect date of dispossession of Tenant as if said date were the Fixed Expiration Datea result of such condemnation or other taking. If only a part of the Premises is so acquired condemned or condemned then, except as hereinafter provided in this Section 12.1taken, this Lease and shall automatically terminate as to the Term shall continue in effect but, if a part portion of the Premises so taken as of the earlier of the date of the vesting of title or the date of dispossession of Tenant as a result of such condemnation or taking. If such portion of the Building is condemned or otherwise taken so acquired as to require, in the opinion of Landlord, a substantial alteration or condemnedreconstruction of the remaining portions thereof, from and after then this Lease may be terminated by Landlord, as of the earlier of (a) the date of the vesting of title, or the Fixed Rent and Additional Rentdate of dispossession as a result of such condemnation or taking, if any, or (b) by written notice from Landlord to Tenant that the termination shall be reduced in occur on the proportion which the area sixtieth (60th) day following ▇▇▇▇▇▇▇▇'s receipt of notice of the date on which said vesting or dispossession will occur. Tenant shall have the right to terminate this Lease if a part of the Premises so acquired is condemned or condemned bears to taken in any manner for public or quasi-public use, including, but not limited to, a conveyance or assignment in lieu of a condemnation or taking. 16.2 This Lease shall not be affected if the total area taking authority by the exercise of its power of eminent domain shall take the Premises immediately prior to such acquisition use or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet occupancy of the Premises or ifany part thereof for a temporary period (hereinafter, by reason "Temporary Taking"). A Temporary Taking is a period of such acquisition or condemnationless than thirty (30) days. The Tenant shall continue to pay, in the manner and at the times specified in this Lease, the Premises shall be rendered wholly or substantially unsuitable for full amount of Annual Base, Additional Rent and other charges payable by the Permitted Use, then either Landlord or Tenant under this Lease. Except only to the extent that the Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term prevented from so doing pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as terms of the date of sooner termination and any prepaid portion order of the Fixed Rent for any period after such date taking authority, Tenant shall be refunded by Landlord continue to Tenant. SECTION 12.2perform and observe all its other obligations under this Lease, as though the Temporary Taking had not occurred. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord Tenant shall be entitled to receive the entire Amount of any award made for any such acquisition the "Temporary Taking" whether paid by way of damages, rent, or condemnationotherwise, unless the period of temporary use or occupancy shall extend to or beyond the Expiration Date of this Lease, in which case the award shall be apportioned between Landlord and Tenant as of the Expiration Date, but Landlord shall be obligated in that circumstance receive the entire portion of the award that is attributable to proceed with reasonable diligence physical damage to repair the Premises and the restoration thereof to the condition immediately prior to the taking. The Tenant covenants that, upon the termination of any Temporary Taking, prior to the Expiration Date, it will, at its sole cost and expense, restore the Premises, at Landlord's expenseas nearly as may be reasonably possible, to a the condition most suitable in which the same ware immediately prior to the Temporary Taking. 16.3 Except as provided in the preceding Section 16.2 Landlord shall be entitled to the entire award in any condemnation proceeding or other proceeding for the Permitted Use. Tenant shall have no claim against Landlord taking for public or the condemning authority quasi-public use, including, without limitation, any award made for the value of the leasehold estate created by this Lease. No award for any unexpired portion of the Term partial or entire taking shall be apportioned, and Tenant hereby expressly assigns to Landlord any award that may be made in such condemnation or other taking, together with any and all rights of its right Tenant now or hereafter arising in and or to same or any such award. Nothing part thereof; provided, however, that nothing contained in this Section 12.2 herein shall be deemed to prevent give Landlord any interest in or to require Tenant from making a separate claim in to assign to Landlord any condemnation proceedings award made to Tenant specifically for its relocation expenses or the value taking of any Tenant's Property included in personal property and fixtures belonging to ▇▇▇▇▇▇; provided that such taking, and for any moving expenses, so long as award does not diminish or reduce the amount of the award payable to Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. 16.4 In the event of a partial condemnation or other taking that such does not result in a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord to the entire Premises, then the Annual Base Rental shall be obligated adjusted in proportion to reimburse to Tenant a the portion of the cost of any Maintenance Repair Premises taken by such condemnation or Requirement Alterations to the extent required by Section 7.1 aboveother taking.

Appears in 1 contract

Sources: Office Lease (Mastech Corp)

Eminent Domain. SECTION 12.1. A. If the whole or substantially all of the Demised Premises is shall be acquired or condemned for any public or quasi-public use or purpose, then, and in that event, the Term shall cease and terminate from the date of title vesting in such proceeding. B. If less than substantially all of the Demised Premises shall be acquired or condemned for any public or quasi-public use or purpose, this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect butfull force and effect, if a part of the Premises is so acquired or condemned, provided that from and after the date of the vesting of title, the Fixed Annual Rent and Additional RentTax Payments shall be modified on a pro rata per rentable square foot basis to reflect the reduction of the rentable square footage of the Demised Premises and the Building as a result of such acquisition or condemnation. C. Notwithstanding the provisions of Section 14B, above, if any, shall be reduced in at least twenty-five percent (25%) of the proportion which the rentable area of the Building is affected thereby, then Landlord may give to Tenant, within sixty (60) days following the date that Landlord receives notice of vesting of title, a notice of termination of this Lease; and if the part of the Premises Building so condemned or acquired or condemned bears to contains more than twenty-five (25%) percent of the total rentable area of the Demised Premises immediately prior to such acquisition condemnation or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or iftaking, or, if by reason of such acquisition condemnation or condemnationtaking, Tenant no longer has reasonable means of access to the Demised Premises shall be rendered wholly or substantially unsuitable for the Permitted Useas determined by Tenant, in Tenant’s reasonable discretion, then either Tenant shall have the right to terminate this Lease by giving notice thereof to Landlord on or prior the sixtieth (60th) day after Tenant receives notice of the taking. Landlord shall promptly give Tenant copies of any notice received from the condemning authority as to vesting. If Landlord or Tenant may gives any such notice to terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be givenLease, then this Lease and the Term shall come to an end and estate hereby granted shall expire as of upon the thirtieth (30th) day after the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Datesuch notice is given. In the event of any termination of If this Lease and the Term pursuant to the provisions shall not be terminated as a result of this Section 12.1a partial taking, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or if any part of the PremisesDemised Premises not so taken is damaged, Landlord, at Landlord’s own expense, but subject to the extent of the net proceeds (after deducting reasonable expenses including attorneys’ and appraisers’ fees and any sums payable to the holder of a Superior Interest) of the award, shall perform the work necessary to restore the damaged portion thereof to substantially the same condition existing immediately prior to the taking with reasonable diligence. Tenant shall be entitled to a proportionate abatement of Fixed Annual Rent and Tax Payments for that portion of the Demised Premises which is being so restored and which is not usable during the period commencing on the date such damage occurred and ending on the date such restoration is substantially complete or would have been substantially complete but for delays caused by Tenant, its agents, employees, or any other party claiming under or through Tenant, as reasonably determined by Landlord, or the date Tenant or any party claiming under or through Tenant reoccupies the affected portion of the Demised Premises or resumes the conduct business therein, if earlier. D. Subject to the terms of Section 14E below, Landlord shall be entitled to receive the entire award for any condemnation or taking of all or any part of the Building, including any such acquisition condemnation or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore taking affecting the Demised Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. and Tenant shall have no claim against Landlord or the any condemning authority for or entity for, nor shall Tenant make any claim for, the value of any unexpired portion of the Term Term, and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 15D shall be deemed to prevent preclude Tenant from making a separate claim in any condemnation proceedings for the then value of any Tenant's Property included in such taking’s personal property, trade fixtures and equipment and for any Tenant’s moving expenses, so long as provided Tenant is entitled pursuant to the terms of this Lease to remove such property, trade fixtures, and equipment at the end of the Term, and provided further that such claim does not result in a reduction in Landlord's award is not reduced thereby’s award. (A) Notwithstanding anything to E. If the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence whole or any repairs, reconstruction or restoration part of the Demised Premises within sixty (60) days after is acquired or condemned temporarily during the physical taking Term for any use or purpose, then the Term shall not be reduced or affected in any way and, accordingly, Tenant shall continue to pay in full all items of Fixed Annual Rent and Additional Rent payable by Tenant hereunder without reduction or abatement. Tenant shall be entitled to receive for itself any award or payments for such use; provided, however, that if the acquisition or condemnation is for a portion of period extending beyond the Premises; or (2) Term, such award or payment shall be apportioned equitably between Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the and Tenant. Tenant, at Tenant's option’s sole cost and expense, may terminate this Lease shall make Alterations (subject to and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice accordance with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination all applicable provisions of this Lease as provided in this Subsection 12.3(ALease) Landlord shall be obligated to reimburse to Tenant a portion of restore the cost of any Maintenance Repair or Requirement Alterations Demised Premises to the extent required by Section 7.1 abovecondition existing prior to any such temporary acquisition or condemnation.

Appears in 1 contract

Sources: Lease Agreement (RedBall Acquisition Corp.)

Eminent Domain. SECTION 12.1Section 11.1. If the whole of the Real Property, the Building or the Premises is shall be acquired or condemned for any public or quasi-public use or purpose, this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Real Property and not the entire Premises is shall be so acquired or condemned then, (1) except as hereinafter provided in this Section 12.111.1, this Lease and the Term shall continue in effect force and effect, but, if a part of the Premises is included in the part of the Real Property so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, the Space Factor shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If condemnation and Tenant's Share shall be redetermined based upon the part proportion in which the ratio between the rentable area of the Premises remaining after such acquisition or condemnation bears to the rentable area of the Building remaining after such acquisition or condemnation; (2) if at least ten percent (10%) of the Real Property is so acquired or condemned contains more than and whether or not the Premises shall be affected thereby, Landlord, at Landlord's option, may give to Tenant, within sixty (60) days next following the date upon which Landlord shall have received notice of vesting of title, a thirty (30) days' notice of termination of this Lease if Landlord shall elect to terminate leases (including this Lease), affecting at least fifty percent (50%) of the rentable square feet area of the Building (excluding any rentable area leased by Landlord or its Affiliates); and (3) if the part of the Real Property so acquired or condemned shall contain more than fifteen percent (15%) of the total area of the Premises immediately prior to such acquisition or condemnation, or if, by reason of such acquisition or condemnation, Tenant no longer has reasonable means of access to the Premises Premises, Tenant, at Tenant's option, may give to Landlord, within sixty (60) days next following the date upon which Tenant shall be rendered wholly or substantially unsuitable for the Permitted Usehave received notice of vesting of title, then either a thirty (30) days' notice of termination of this Lease. If any such thirty (30) days' notice of termination is given by Landlord or Tenant may terminate Tenant, this Lease and the Term shall come to an end and estate hereby granted, by notifying expire upon the other party in writing expiration of such termination within one hundred twenty said thirty (12030) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that the date of expiration of said thirty (30) days were the Fixed Expiration Date. In If a part of the event Premises shall be so acquired or condemned and this Lease and the Term shall not be terminated pursuant to the foregoing provisions of any this Section 11.1, Landlord, at Landlord's expense, shall restore that part of the Premises not so acquired or condemned to a self-contained rental unit inclusive of Tenant's Alterations (other than Specialty Alterations), except that if such acquisition or condemnation occurs prior to completion of the Initial Alterations, Landlord shall only be required to restore that part of the Premises not so acquired or condemned to a self-contained rental unit exclusive of Tenant's Alterations. Upon the termination of this Lease and the Term pursuant to the provisions of this Section 12.111.1, the Fixed Rent or Additional and Escalation Rent shall be apportioned as of the date of sooner termination vesting of title and any prepaid portion of the Fixed Rent and Escalation Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2Section 11.2. In the event of any such acquisition or condemnation of all or any part of the PremisesReal Property, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 11.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the then value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything Section 11.3. If the whole or any part of the Premises shall be acquired or condemned temporarily during the Term for any public or quasi-public use or purpose, Tenant shall give prompt notice thereof to Landlord and the contrary contained Term shall not be reduced or affected in Sections 12.1 any way and 12.2 aboveTenant shall continue to pay in full all items of Rental payable by Tenant hereunder without reduction or abatement, in the event and Tenant shall be entitled to receive for itself any award or payments for such use, provided, however, that: (1i) if the acquisition or condemnation is for a period not extending beyond the Term and if such award or payment is made less frequently than in monthly installments, the same shall be paid to and held by Landlord fails as a fund which Landlord shall apply from time to commence any repairstime to the Rental payable by Tenant hereunder, reconstruction except that, if by reason of such acquisition or condemnation changes or alterations are required to be made to the Premises which would necessitate an expenditure to restore the Premises, then a portion of such award or payment reasonably appropriate to cover the expenses of the restoration shall be retained by Landlord, without application as aforesaid, and applied toward the restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premisesas provided in Section 11.1 hereof; or (2ii) if the acquisition or condemnation is for a period extending beyond the Term, such award or payment shall be apportioned between Landlord fails complete all repairsand Tenant as of the Expiration Date; Tenant's share thereof, reconstruction if paid less frequently than in monthly installments, shall be paid to Landlord and applied in accordance with the provisions of clause (i) above, provided, however, that the amount of any award or payment allowed or retained for restoration of the Premises within one hundred twenty (120) days after shall remain the date property of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate Landlord if this Lease and shall expire prior to the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage restoration of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 abovePremises.

Appears in 1 contract

Sources: Lease Agreement (Liveperson Inc)

Eminent Domain. SECTION 12.1. If (A) If, during the whole Term all of the Premises is acquired shall be taken (or condemned temporarily taken for a period of one (1) year or more) by a public authority under any public statute or quasi-public use by right of eminent domain, or purposepurchased under threat of such taking, this Lease and shall automatically terminate on the Term shall end as date on which the condemning authority takes possession of the date Premises ("Date of Such Taking"). (B) If, during the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a Term, part of the Premises is so acquired taken or condemned thenpurchased, except and if, in the reasonable opinion of Landlord, substantial alteration or reconstruction of the Premises is necessary or desirable as hereinafter provided a result thereof, whether or not the Premises are or may be affected, Landlord shall have the right to terminate this Lease by giving Tenant at least thirty (30) days' written notice of such termination, and thereupon this Lease shall terminate on the date set forth in such notice. (C) Tenant shall immediately surrender to Landlord the Premises and all interests therein under this Lease on any such date of termination under this Section 12.16.01. Landlord may re-enter and take possession of the Premises and remove Tenant therefrom if necessary, and, in the event of a termination under this Lease Section 6.01, the Base Rent and Additional Rent shall abate on the Term later of the date of termination or the Date of Su▇▇ ▇aking. After such termination, and on notice from Landlord stating the Base Rent and Additional Rent then owing, Tenant shall continue in effect but, if forthwith pay Landlord such amounts. (D) If a part portion of the Premises is so acquired or condemnedtaken, from and after the date no rights of the vesting of titletermination herein conferred are timely exercised, the Fixed Term of this Lease shall expire with respect to the portion so taken on the Date of Such Taking. In such event, the Base Rent and Additional RentRent with respect to such portion so taken shall abate on such date or on such later date as Tenant shall deliver ▇▇▇▇ession thereof, if any, shall be reduced in and the proportion which the area of the part of the Premises so acquired or condemned bears Base Rent and Additional Rent thereafter payable with respect to the total area remainder of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable adjusted pro rata by Landlord in order to account for the Permitted Usereduction in the number of rentable square feet in the Premises. Landlord shall restore and redemise the Premises to the extent required to exclude from the Premises that portion so taken; provided, then either Landlord or Tenant may terminate this Lease that Landlord's obligation to restore and redemise the Term and estate hereby granted, by notifying remainder of the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination Premises shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant limited to the provisions of this Section 12.1, funds available to Landlord from the Fixed Rent condemnation award or Additional Rent shall be apportioned as of other consideration paid for the date of sooner termination and any prepaid affected portion of the Fixed Rent for Premises. Landlord shall not be obligated to replace, repair or restore any period after such date improvements or alterations to the Premises made by or on behalf of Tenant, nor shall Landlord be refunded by Landlord obligated to replace, repair or restore Tenant's leasehold improvements, personal property, furniture, fixtures, equipment or the like. SECTION 12.2. In the event of (E) Upon any such acquisition taking or condemnation of all or any part of the Premisespurchase, Landlord shall be entitled to receive and retain the entire award or consideration for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the affected portion of the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. and Tenant shall not have no or advance any claim against Landlord or the condemning authority for the value of its property or its leasehold estate or the unexpired Term of the Lease, or for costs of removal or relocation, or business interruption expense or any unexpired other damages arising out of such taking or purchase. Nothing herein shall give Landlord any interest in or preclude Tenant from seeking and recovering for its own account from the condemning authority any award or compensation attributable to the taking or purchase of Tenant's improvements, chattels or trade fixtures, or the removal or relocation of its business and effects, or the interruption of its business; provided that any such award or compensation shall not reduce the amount of the award otherwise payable to Landlord. If any such award made or compensation paid to either party specifically includes an award or amount for the other, the party first receiving the same shall promptly account therefor to the other. (F) If all or any portion of the Term Premises shall be condemned or taken for governmental occupancy for a period of less than one year, this Lease shall continue in full force and effect and Tenant hereby expressly assigns shall continue to Landlord pay in full all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Base Rent and Additional Rent hereunder and other charges herein reserved, without reduction or abatement, and Tenant shall be apportioned entitled to receive, for itself, so much of any award or payment made for such use as of is equal to the payments that are actually made by Tenant to Landlord during such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) temporary taking, and Landlord shall be obligated to reimburse to Tenant a portion of receive the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 abovebalance thereof.

Appears in 1 contract

Sources: Lease (Integrated Performance Systems Inc)

Eminent Domain. SECTION 12.1. a. If the whole of the Building or Premises is acquired lawfully taken by condemnation or condemned in any other manner for any public or quasi-quasi public use or purpose, this Lease and the Term shall end terminate as of the tile date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything Rent shall be prorated to such date. If less than the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration whole of the Building or Premises is so taken, this Lease shall be unaffected by such taking, provided that (i) Tenant shall have the right to terminate this Lease by notice to Landlord given within sixty ninety (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (12090) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs taking if twenty Percent (120%) or more of the Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of Its business, and (2ii) hereof, Landlord shall have the Tenant, at Tenant's option, may right to terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination notice to Tenant given within thirty ninety (3090) days after the passage date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall terminate on the 30 th day after either such notice. The Rent shall be prorated to the date of termination. If this Lease continues in force upon such partial taking, the Base Rent and Tenant's Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the times periods in subparagraphs (1) Premises and (2) above. Project. b. In the event that such a Notice of termination any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be giventhe exclusive property of Landlord, then this Lease and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the term condemning authority. Tenant, however, shall have the right, to the extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and estate hereby granted shall expire as damage to Tenant's personal property. c. In the event of a partial taking of the date of termination stated Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the cost of any Maintenance Repair Premises as nearly as practicable to its condition prior to the condemnation or Requirement Alterations taking, but only to the extent required by Section 7.1 aboveof Building Standard Work. Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant's Property.

Appears in 1 contract

Sources: Office Building Lease (Newgold Inc)

Eminent Domain. SECTION 12.1. Section 1 1.1 If the whole of the Real Property, the Building or the Premises is shall be acquired or condemned for any public or quasi-public use or purpose, this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Real Property (comprised of at least thirty percent (30%) of the rentable area of the Building) and not the entire Premises is shall be so acquired or condemned then, (1) except as hereinafter provided in this Section 12.111.1, this Lease and the Term shall continue in effect force and effect, but, if a part of the Premises is included in the part of the Real Property so acquired or condemned, from and after the date of the vesting of title, (x) the Fixed Rent and Additional Rent, if any, the Space Factor shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If , (y) Tenant’s Share shall be redetermined based upon the part proportion in which the ratio between the rentable area of the Premises acquired remaining after such acquisition or condemned contains more than condemnation bears to the rentable area of the Building remaining after such acquisition or condemnation, and (z) the security deposit pursuant to Article 31 below shall be reduced in the same proportion that the Fixed Rent and Space Factor are reduced; (2) whether or not the Premises shall be affected thereby, Landlord, at Landlord’s option, may give to Tenant, within sixty (60) days next following the date upon which Landlord shall have received notice of vesting of title, a thirty (30) days’ notice of termination of this Lease if Landlord shall elect to terminate leases (including this Lease), affecting at least fifty percent (50%) of the rentable square feet area of the Building (excluding any rentable area leased by Landlord or its Affiliates); and (3) if the part of the Real Property so acquired or condemned shall contain more than fifteen percent (15%) of the total area of the Premises immediately prior to such acquisition or condemnation, or if, by reason of such acquisition or condemnation, Tenant no longer has reasonable means of access to the Premises Premises, Tenant, at Tenant’s option, may give to Landlord, within sixty (60) days next following the date upon which Tenant shall be rendered wholly or substantially unsuitable for the Permitted Usehave received notice of vesting of title, then either a thirty (30) days’ notice of termination of this Lease. If any such thirty (30) days’ notice of termination is given by Landlord or Tenant may terminate Tenant, this Lease and the Term shall come to an end and estate hereby granted, by notifying expire upon the other party in writing \ expiration of such termination within one hundred twenty said thirty (12030) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that the date of expiration of said thirty (30) days were the Fixed Expiration Date. In If a part of the event Premises shall be so acquired or condemned and this Lease and the Term shall not be terminated pursuant to the foregoing provisions of any this Section 1 1.1, Landlord, at Landlord’s expense, shall restore that part of the Premises not so acquired or condemned to a self-contained rental unit inclusive of Tenant’s Alterations (other than Specialty Alterations), except that if such acquisition or condemnation occurs prior to completion of the Initial Alterations, Landlord shall only be required to restore that part of the Premises not so acquired or condemned to a self-contained rental unit exclusive of Tenant’s Alterations. Upon the termination of this Lease and the Term pursuant to the provisions of this Section 12.111.1, the Fixed Rent or Additional Rent Rental shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent Rental for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 above.

Appears in 1 contract

Sources: Lease Agreement (Learning Tree International Inc)

Eminent Domain. SECTION 12.1. a. If the whole of the Building or Premises is acquired lawfully taken by condemnation or condemned in any other manner for any public or quasi-public use or quasipublic purpose, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything Rent shall be prorated to such date. If less than the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration whole of the Building or Premises is so taken, this Lease shall be unaffected by such taking, provided that (i) Tenant shall have the right to terminate this Lease by notice to Landlord given within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120ninety(90) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs taking if twenty percent (120%) or more of the Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (2ii) hereof, Landlord shall have the Tenant, at Tenant's option, may right to terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination notice to Tenant given within thirty ninety (3090) days after the passage date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall terminate on the thirtieth (30th) day after either such notice. The Rentshall be prorated to the date of termination. If this Lease continues in force upon such partial taking, the Base Rent and Tenant's Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the times periods in subparagraphs (1) Premises and (2) above. Project. b. In the event that such a Notice of termination any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be giventhe exclusive property of Landlord, then this Lease and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the term condemning authority. Tenant, however, shall have the right, to the extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority(but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and estate hereby granted shall expire as damage to Tenant's personal property. c. In the event of a partial taking of the date of termination stated Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the Premises as nearly as practicable to its condition priorto the condemnation or taking, but only to.the extent of Building Standard Work. Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 aboveother Leasehold Improvements and Tenant's Property.

Appears in 1 contract

Sources: Office Building Lease (Unify Corp)

Eminent Domain. SECTION 12.1Section 10.01. If the whole of the Demised Premises is shall be acquired or condemned for any public or quasi-public use or purpose, this Lease and the Demised Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Demised Premises is shall be so acquired or condemned then, except as hereinafter otherwise provided in this Section 12.1Section, this Lease and the Demised Term shall continue in force and effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Base Rent and Additional Rent, if any, additional rent shall be reduced in the proportion which the area of the part of the Demised Premises so acquired or condemned bears to the total area of the Demised Premises immediately prior to such acquisition or condemnation. If only a part of the Real Property shall be so acquired or condemned, then (i) whether or not the Demised Premises shall be affected thereby, provided more than fifty (50%) percent of the Building is so acquired, Landlord, at Landlord’s option, may give to Tenant, within sixty (60) days next following the date upon which Landlord shall have received notice of vesting of title, a five (5) days’ notice of termination of this Lease, and (ii) if the part of the Premises Real Property so acquired or condemned contains shall contain more than fifty percent twenty-five (5025%) per cent of the rentable square feet total area of the Demised Premises immediately prior to such acquisition or condemnation, or if, by reason of such acquisition or condemnation, Tenant no longer has reasonable means of access to the Premises shall be rendered wholly Demised Premises, Tenant, at Tenant’s option, may give to Landlord, or substantially unsuitable for the Permitted UseLandlord, then either Landlord or Tenant at Landlord’s option may terminate this Lease and the Term and estate hereby grantedgive to Tenant, by notifying the other party in writing of such termination within one hundred twenty sixty (12060) days after next following the date upon which Tenant receives Notice shall have received notice of vesting of title, a five (5) days’ notice of termination of this Lease. In the event that any such Notice five (5) days’ notice of termination shall be is given, then by Landlord or Tenant, this Lease and the Demised Term shall come to an end and estate hereby granted shall expire as upon the expiration of the date of termination stated in said Notice, five (5) days with the same effect as if that the date of expiration of said five (5) days were the Fixed Expiration Date. If a part of the Demised Premises shall be so acquired or condemned and this Lease and the Demised Term shall not be terminated pursuant to the foregoing provisions of this Section, Landlord, at Landlord’s expense, shall restore that part of the Demised Premises not so acquired or condemned to a self-contained rental unit. In the event of any termination of this Lease and the Demised Term pursuant to the provisions of this Section 12.1Section, the Fixed Base Rent or Additional Rent and additional rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Base Rent and additional rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2Section 10.02. In the event of any such acquisition or condemnation of all or any part of the PremisesReal Property, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Demised Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any items of Tenant's ’s Personal Property included which are compensable, in such takinglaw, as trade fixtures and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 above.

Appears in 1 contract

Sources: Lease Agreement (Majesco)

Eminent Domain. SECTION 12.1. a. If the whole of the Building or Premises is acquired lawfully taken by condemnation or condemned in any other manner for any public or quasi-quasi public use or purpose, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything Rent shall be prorated to such date. If less than the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration whole of the Building or Premises is so taken, this Lease shall be unaffected by such taking, provided that (i) Tenant shall have the right to terminate this Lease by notice to Landlord given within sixty ninety (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (12090) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs taking if twenty percent (120%) or more of the Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (2ii) hereof, Landlord shall have the Tenant, at Tenant's option, may right to terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination notice to Tenant given within thirty ninety (3090) days after the passage date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall terminate on the thirtieth (30th) day after either such notice. The Rents shall be prorated to the date of termination. If this Lease continues in force upon such partial taking, the Base Rent and Tenant's Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the times periods in subparagraphs (1) Premises and (2) above. Project. b. In the event that such a Notice of termination any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be giventhe exclusive property of Landlord, then this Lease and Tenant hereby assigns to Landlord all of Its right, title and interest In any award, judgment or settlement from the term condemning authority. Tenant, however, shall have the right, to the extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and estate hereby granted shall expire as damage to Tenant's personal property. c. In the event of a partial taking of the date of termination stated Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the cost of any Maintenance Repair Premises as nearly as practicable to its condition prior to the condemnation or Requirement Alterations taking, but only to the extent required by Section 7.1 aboveof Building Standard Work. Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant's Property.

Appears in 1 contract

Sources: Lease Agreement (Air Methods Corp)

Eminent Domain. SECTION 12.1. If (a) In the whole event of the Premises is acquired or condemned a taking for any public or quasi-public use by any lawful power or purposeauthority by exercise of the right of condemnation or of eminent domain or by agreement between Landlord and those having the authority to exercise such right (hereinafter called “Taking”) of the entire Tenant’s Building, then: (l) this Lease and the Term term hereof shall end cease and expire as of the date of the vesting of title with the same effect or transfer of possession, whichever occurs earlier, as if said date were the Fixed Expiration Date. If only a part result of the Premises Taking; and (2) any Fixed Rent and Additional Rent paid for a period after such date of termination shall be refunded to Tenant upon demand. (1) In the event of a Taking of any material portion of Tenant’s Building or in the event of a denial of adequate access to the Demised Premises, Tenant may elect to terminate this Lease by giving notice of termination to Landlord on or before the date which is so acquired or condemned thenninety (90) days after receipt by Tenant of notice that the Taking shall have occurred. Said notice of termination shall state the date of termination, except as hereinafter provided which date of termination shall be not more than thirty (30) days after the date on which such notice of termination is given to Landlord, in this Section 12.1, which event: (a) upon the date specified in such notice of termination this Lease and the Term term hereof shall continue in effect butcease and expire, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the (b) any Fixed Rent and Additional Rent, if any, Rent paid for a period after such date of termination shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears refunded to the total area of the Premises immediately prior Tenant upon demand. (2) If Tenant does not elect to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease as aforesaid, then the award or payment for the Taking shall be paid to and used by Landlord for restoration as hereinafter set forth and Landlord shall promptly commence and with due diligence continue to restore the Term portion of the Demised Premises remaining after the Taking to substantially the same condition and estate hereby grantedtenantability as existed immediately preceding the Taking, by notifying except that Tenant shall have the other party right to require Landlord to make changes to Tenant’s Building in writing the course of such termination restoration. Landlord shall complete the restoration within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration DateTaking. In the event of a Taking of any termination part of this Lease and the Term pursuant to the provisions of this Section 12.1Tenant’s Building, the Fixed Rent or Additional Rent shall be apportioned as of then commencing upon the date of sooner termination and any prepaid portion vesting of title or transfer of possession, whichever occurs earlier, Fixed Rent (except as same shall be abated as hereinafter provided) shall be the product of the Fixed Rent for any period after such date immediately preceding the Taking and a fraction, the numerator of which shall be refunded by Landlord to the total floor area of the Tenant. SECTION 12.2’s Building remaining after the Taking and the denominator of which shall be the total floor area of the Tenant’s Building immediately preceding the Taking. In the event of any such acquisition or condemnation a Taking of all or any part of the PremisesDemised Premises other than Tenant’s Building, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after then commencing upon the date of such physical takingvesting of title or transfer of possession, thenwhichever occurs earlier, as Fixed Rent shall be justly and equitably reduced to reflect a result Taking of or denial or diminishing of adequate access to the Demised Premises. During the period of any circumstances described in subparagraphs (1) or (2) hereofrestoration, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as abated justly and equitably. Nothing herein contained shall be deemed or construed to prevent either Landlord or Tenant from enforcing and prosecuting a claim for the value of such dateits respective interest in any condemnation proceedings. Notwithstanding However, Tenant shall not make any claim for the termination value of this the unexpired term of the Lease as provided if it adversely affects Landlord’s award, in this Subsection 12.3(Awhich case, Landlord shall pay Tenant out of Landlord’s award the value of Tenant’s leasehold improvements, fixtures and equipment. (c) The proceeds of any award or payment belonging to Landlord shall be obligated paid and disbursed for restoration in the same manner that the proceeds of fire insurance are required to reimburse be paid and disbursed pursuant to Tenant a portion subsection (d) of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 aboveArticle 23.

Appears in 1 contract

Sources: Lease Agreement (Franklin Electronic Publishers Inc)

Eminent Domain. SECTION 12.115.1. If In the whole event of the Premises is acquired or condemned any taking for any public or quasi-public use or purpose, this Lease and the Term shall end as by exercise of the date right of eminent domain or by deed in lieu thereof between Landlord and those having the authority to exercise such right (hereinafter called "Taking") of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part whole of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term term hereof shall cease and estate hereby granted shall expire as of the date of termination stated in said Notice, with such Taking and the same effect as if that date were the Fixed Expiration Datebase rent under Exhibit B and any additional rent and all other charges paid for a period after such Taking shall be refunded to Tenant upon demand. 15.2. In the event of any termination Taking of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as more than one-fifth (1/5) of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In Premises or in the event of any such acquisition a Taking so as to prevent or condemnation of all or any part of the substantially prevent adequate access to Premises, Landlord shall be entitled then Tenant may elect to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value terminate this Lease by giving notice of any unexpired portion of the Term and Tenant hereby expressly assigns termination to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for on or before the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award date which is not reduced thereby. ninety (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (6090) days after receipt by Tenant of notice that the physical taking Taking or denial or diminishing of a portion access or termination of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after Tenant's lease shall have occurred. Upon the date specified in such notice of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate termination this Lease and the term hereof shall cease and estate hereby grantedexpire, by notifying and the Landlord in writing of base rent under Exhibit B and any additional rent and charges paid for a period after such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice date of termination shall be given, then refunded to Tenant upon demand. 15.3. If this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as is not terminated or if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of Tenant does not elect to terminate this Lease as provided in this Subsection 12.3(A) aforesaid then the award or payment for the Taking shall be paid to and used by Landlord for restoration as hereinafter- set forth and Landlord shall be obligated promptly commence and with due diligence continue to reimburse restore the Premises remaining after the Taking to Tenant a portion of substantially the cost same condition and tenantability as existed immediately preceding the Taking. During the period of any Maintenance Repair restoration, the base rent under Exhibit B, additional rent, and other charges shall be abated justly and equitably. Nothing herein contained shall be deemed or Requirement Alterations construed to prevent either Landlord or Tenant from enforcing and prosecuting a claim for the value of its respective interest in any condemnation proceedings. 15.4. Tenant's right to recover damages in case of any Taking, shall not be affected, prejudiced, restricted or limited whether or not this Lease has been terminated because of such Taking or is subject to termination. Nothing herein contained shall prohibit Tenant (in addition to the extent required by Section 7.1 aboveforegoing) from interposing and prosecuting in any condemnation proceeding, independent of any claim of Landlord, claims for which the Tenant; may be entitled to recover.

Appears in 1 contract

Sources: Commercial Lease (Ipswich Bancshares Inc)

Eminent Domain. SECTION 12.1. Section 12.1 If the whole (a) all of the floor area of the Premises, or so much thereof as shall render the Premises is wholly untenantable, shall be acquired or condemned for any public or quasi-public use or purpose, or (b) a portion of the Real Property, not including the Premises, shall be so acquired or condemned, but by reason of such acquisition or condemnation, Tenant no longer has means of access to the Premises, then this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1Article 12, the Fixed Rent or and Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent or Additional Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. Section 12.2 In the event of any such acquisition or condemnation of all or any part of the Premises, Real Property. Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term or Tenant's Alterations, and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the then value of any Tenant's Property included in such taking, taking and for any moving expenses, so long as provided such award shall be made by the condemning authority in addition to, and shall not result in a reduction of, the award made by it to Landlord's award is not reduced thereby. (A) Notwithstanding anything Section 12.3 If only a part of the Real Property shall be so acquired or condemned then, subject to Section 12.1, this Lease and the contrary contained Term shall continue in Sections 12.1 force and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration effect. If a part of the Premises within sixty (60) days after shall be so acquired or condemned and this Lease and the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairsTerm shall not be terminated, reconstruction or restoration Landlord, at Landlord's expense, shall restore that part of the Premises within one hundred twenty (120) days not so acquired or condemned so as to constitute tenantable Premises. From and after the date of such physical takingthe vesting of title, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding reduced in the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion proportion which the area of the cost part of any Maintenance Repair the Premises so acquired or Requirement Alterations condemned bears to the extent required by Section 7.1 abovetotal area of the Premises immediately prior to such acquisition or condemnation.

Appears in 1 contract

Sources: Lease Agreement (Ibasis Inc)

Eminent Domain. SECTION 12.1. Section 11.1 If the whole or substantially all of the Premises is acquired Real Property or condemned the Building shall be taken by condemnation or in any other manner for any public or quasi-public use or purpose, this Lease and the Term term and estate hereby granted shall end terminate as of the date of the vesting of title with the same effect as if said date were on such taking, and the Fixed Expiration Date. Rent and Escalation Rent shall be prorated and adjusted as of such date. (A) If only a any part of Real Property or Building shall be so taken, this Lease shall be unaffected by such taking, except that if the portion of Real Property or Building taken exceeds fifteen (15%) percent of the rentable area thereof or if thirty percent (30%) or more of the rentable area of the Premises is shall be so acquired or condemned thentaken and Landlord cancels leases of other tenants in the Building which demise, except as hereinafter provided in this Section 12.1the aggregate, at least fifty (50%) percent of the entire rentable square footage of the space in the Building (excluding the retail portion) that shall be leased at the time of the casualty, Landlord may, at its option, terminate this Lease and the Term shall continue in by giving Tenant notice to that effect but, if a part of the Premises is so acquired or condemned, from and within ninety (90) days after the date of the vesting of titletaking. This Lease shall terminate on the date fixed in the notice but not less than thirty (30) days after the date that such notice from Landlord to Tenant shall be given, and the Fixed Rent and Additional RentEscalation Rent shall be prorated and adjusted as of such termination date. Upon such partial taking and this Lease continuing in force as to any part of the Premises, if any, the area of the Premises taken will be deleted from the Premises and Fixed Rent and Escalation Rent shall be reduced in the proportion which that the area of the Premises taken bears to the total area of the Premises immediately prior to such taking. (B) If the part of the Premises Building or the Real Property so acquired or condemned bears to contains fifteen (15%) percent or more of the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises , or if, by reason of such acquisition or condemnation, Tenant no longer has reasonable means of access to the Premises shall be rendered wholly or substantially unsuitable for the Permitted UsePremises, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination notice to Landlord given within one hundred twenty sixty (12060) days after following the date upon which ▇▇▇▇▇▇ received notice of such acquisition or condemnation. If Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be givenso notifies Landlord, then this Lease shall terminate and the Term shall end and estate hereby granted shall expire as of upon the date set forth in the notice, which date shall not be more than thirty (30) days following the giving of termination stated such notice. Section 11.3 Except as expressly provided in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises11.3, Landlord shall be entitled to receive the entire award or payment in connection with any taking without reduction therefrom for any such acquisition estate vested in Tenant by this Lease or condemnation, but shall be obligated any value attributable to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term term of this Lease, and Tenant shall receive no part of such award except as hereinafter expressly provided in this Article. Tenant hereby expressly assigns to Landlord all of its right right, title and interest in and to every such award or payment and waives any such awardright; to the value of the unexpired portion of the term of this Lease. Nothing contained in this Section 12.2 11.3 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings proceeding for the then value of any Tenant's ’s Property included in such takingwhich have been taken, and moving expenses incurred as a result thereof, provided such claim does not reduce the amount of the award payable to Landlord. Section 11.4 If the temporary use or occupancy of all or any part of the Premises shall be taken by condemnation or in any other manner for any public-or quasi-public use or purpose during the term of this Lease, Tenant shall be entitled, except as hereinafter set forth, to receive that portion of the award or payment for such taking which represents compensation for the use and occupancy of the Premises, during the Term for the taking of Tenant’s Property, for the repair of those items required to be repaired by Tenant pursuant to Section 11.5 hereof and for moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything and Landlord shall be entitled to receive that portion which represents reimbursement for the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or cost of restoration of the Premises within sixty (60) days after Premises, excluding the physical taking cost of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical takingitems to be restored by Tenant pursuant to Section 11.5 hereof. Except as hereinafter set forth, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term remain unaffected by any such taking and estate hereby granted Tenant shall expire continue responsible for all of its obligations hereunder insofar as of the date of termination stated such obligations are not affected by such taking and shall continue to pay in said Notice with the same effect as if that date were full the Fixed Expiration DateRent, and the Fixed Escalation Rent and Additional Rent hereunder when due. All monies payable to Tenant as, or as part of, an award for temporary use and occupancy for a period beyond the date to which the Fixed Rent, Escalation Rent and Additional Rent have been paid shall be apportioned held and applied by Landlord as a trust fund for payment of such date. Notwithstanding the Fixed Rent, Escalation Rent and Additional Rent becoming due hereunder. Section 11.5 In the event of a taking which does not result in termination of this Lease as provided Lease, or in the event of a taking for a temporary use or occupancy of all or any part of the Premises which does not result in a termination of this Subsection 12.3(ALease, (a) Landlord shall be obligated to reimburse to Tenant a portion repair the remaining parts of the cost Building (other than those parts of any Maintenance Repair or Requirement the Premises which are deemed Alterations and Tenant’s Property) to a condition substantially comparable to their former condition to the extent required by Section 7.1 abovethat Landlord deems the same to be feasible (subject to changes which Landlord shall deem reasonable and desirable) so as to constitute a complete and rentable Building and (b) Tenant, at its expense, and whether or not any award or awards shall be sufficient for the purpose, shall proceed with reasonable diligence to repair the remaining parts of the Premises which are deemed Alterations and Tenant’s Property, to substantially their former condition to the extent that the same may be feasible.

Appears in 1 contract

Sources: Lease (Coty Inc /)

Eminent Domain. SECTION 12.1. (a) If the whole all or any substantial part of the Premises or the Building is acquired or condemned taken for any public or quasi-quasi- public use under governmental law or purposeby right of eminent domain (the Taking), this Lease terminates at Landlord’s election, which ▇▇▇▇▇▇▇▇ has the right to make notwithstanding the divestiture of Landlord’s entire interest in the Building. Tenant has the right to terminate this Lease if the Taking would materially interfere with ▇▇▇▇▇▇’s use and occupancy of the Term shall end as Premises (even if Landlord reconstructs the Premises and Building to the maximum extent practicable in the case of a partial Taking), or, in the case of a partial Taking, if (i) Tenant determines, in Tenant’s reasonable business judgment, that Landlord cannot reasonably be expected to complete, within 150 days from the date of the vesting Taking, any reconstruction of title the Premises, of the Building, or of both that is necessary for Tenant’s use and occupancy of the Premises in accordance with the same effect as provisions of this Lease, or (ii) Landlord, having elected not to terminate the Lease, fails to complete such reconstruction within 150 days after the Taking. (b) The foregoing rights of Landlord and Tenant to terminate this Lease if said date were there is a Taking is subject to the Fixed Expiration Date. If only following notice provisions: Within 30 days after a Taking of all or a substantial part of the Premises or the Building, Landlord must notify Tenant of Landlord’s election to terminate the Lease in accordance with the preceding paragraph. Tenant must notify Landlord of Tenant’s election to terminate the Lease within 30 days after the Taking, or within 30 days after the expiration of the 150-day period given to Landlord to restore the Premises after a partial Taking if this Lease is so acquired not terminated and Landlord has failed to complete such restoration within said 150-day period. Any such termination of the Lease by Landlord or condemned then, except as hereinafter provided in this Section 12.1Tenant is effective no earlier than 30 days after the giving of notice. Unless terminated pursuant to the foregoing provisions, this Lease remains in full force and effect, subject, however to other provisions of this § 7.2. (c) If Landlord does not terminate this Lease after a Taking, or if the Term shall continue in effect but, if Taking effects less than all or a substantial part of the Premises is so acquired or condemnedthe Building, from Landlord must proceed with diligence to establish and after collect all valid claims that arise against the date Taking authority or others and, subject to the then-applicable building codes, zoning ordinances, and other legal requirements, Landlord must proceed with diligence to restore the Premises and the Building, or their remains, as nearly as practicable to their condition before such Taking, at Landlord’s sole expense, subject, however, to the extent of the vesting of title, proceeds from the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area Taking. (d) If any Taking of the Premises or the Building or if Landlord’s restoration of either or both (i) reduces the Usable Area of the Premises, (ii) renders any part of the Premises so acquired unfit for Tenant’s use and occupancy, or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease otherwise materially interferes with Tenant’s use and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part occupancy of the Premises, Landlord shall or (iii) causes a material cessation or reduction in Landlord’s Services under this Lease (even if Tenant continues to use and occupy the Premises), Rent or a just portion of Rent must be entitled to receive abated until the entire award for any Premises or their remains, such acquisition services, or condemnationall of them are restored, but shall be obligated to proceed with reasonable diligence to repair and restore as this Lease requires. In the case of a Taking that reduces the Usable Area of the Premises, at interferes with ▇▇▇▇▇▇’s use and occupancy of the Premises, or materially diminishes Landlord's expense’s Services on a permanent basis, to a condition most suitable just portion of Rent must be abated for the Permitted Use. Tenant shall have no claim against remainder of the Term. (e) Landlord reserves all rights to any damages or the condemning authority for the value compensation payable by reason of any unexpired portion of the Term Taking, and Tenant hereby expressly assigns grants to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in rights to such takingdamages or compensation, and covenants to execute and deliver such further instruments as Landlord requests from time to time in order to obtain such damages or compensation, provided, however, that Tenant reserves for Tenant any award specifically reimbursing Tenant for moving or relocation expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereofother award, the Tenant, at Tenant's option, may terminate this Lease and payment of which does not diminish the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) aboveamounts otherwise payable to Landlord. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 aboveTHE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.

Appears in 1 contract

Sources: Office Lease

Eminent Domain. SECTION 12.1. If (a) In the event that title to the whole or any part of the Premises is acquired shall be lawfully condemned or condemned taken in any manner for any public or quasi-public use or purposeuse, this Lease and the Term term and estate hereby granted shall end forthwith cease and terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnationaward, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns assigning to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such takinginterest therein, and for any moving expenses, so long as Landlord's award is not reduced therebyif any. (Ab) Notwithstanding anything In the event that title to a part of the contrary contained Building other than the Premises shall be so condemned or taken, and if in Sections 12.1 and 12.2 abovethe opinion of Landlord, the Building should be restored in such a way as to alter the Premises materially, or in the event that: (1) the Landlord fails that title to commence any repairs, reconstruction all or restoration a material part of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Outside Common Areas shall be so condemned or taken, Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, granted by notifying the Landlord in writing Tenant of such termination within thirty sixty (3060) days after following the passage date of vesting the times periods in subparagraphs (1) title, and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as on the date specified in the notice of termination, which date shall be not less than sixty (60) days following the date of termination stated vesting of title, and this Lease and the term and estate hereby granted shall expire on the date specified in said Notice with the same effect notice of termination, which date shall be not less than sixty (60) days after the giving of such notice, as fully and completely as if that such date were the Fixed Expiration Datedate hereinbefore set for the expiration of the term of this Lease, and the Fixed Rent Monthly Rent, Additional Rent, and Additional Rent other charges hereunder shall be apportioned as of such date. Notwithstanding In such event, Tenant shall not entitled to any po▇▇▇▇▇ of Landlord's award hereunder, if any, nor shall Tenant have any claim against Landlord for the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a unexpired portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 aboveterm.

Appears in 1 contract

Sources: Office Lease Agreement (Logisoft Corp)

Eminent Domain. SECTION 12.1. If (a) In the event that title to the whole or any part of the Premises is acquired shall be lawfully condemned or condemned taken in any manner for any public or quasi-public use or purposeuse, this Lease Sublease and the Term term and estate hereby granted shall end forthwith cease and terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord Sublandlord shall be entitled to receive the entire award for any such acquisition or condemnationaward, but shall be obligated Subtenant hereby assigning to proceed with reasonable diligence to repair and restore the PremisesSublandlord Subtenant's interest therein, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced therebyif any. (Ab) Notwithstanding anything In the event that title to a part of the contrary contained in Sections 12.1 Building other than the Premises shall be so condemned or taken, and 12.2 above, if in the event that: (1) opinion of Sublandlord, the Landlord fails Building should be restored in such a way as to commence any repairs, reconstruction or restoration of alter the Premises materially, Sublandlord may terminate this Sublease and the term and estate hereby granted by notifying Subtenant of such termination within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after following the date of such physical takingvesting of title, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate and this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease Sublease and the term and estate hereby granted shall expire as of on the date specified in the notice of termination stated in said Notice with termination, which date shall be not less than sixty (60) days after the same effect giving of such notice, as fully and completely as if that such date were the Fixed Expiration Datedate hereinbefore set for the expiration of the term of this Sublease, and the Fixed Rent Rent, additional rent, and Additional Rent other charges hereunder shall be apportioned as of such date. Notwithstanding In such event, Subtenant shall not be entitled to any portion of Sublandlord's award hereunder, if any, nor shall Subtenant have any claim against Sublandlord for the termination value of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a the unexpired portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 aboveterm.

Appears in 1 contract

Sources: Sublease Agreement (Genesee Corp)

Eminent Domain. SECTION 12.120.01. If the whole of the Building or the Premises is acquired shall be taken by condemnation or condemned in any other manner for any public or quasi-public use or purpose, this Lease and the Term term and estate hereby granted shall end terminate as of the date of the vesting of title with on such taking (herein called "Date of the same effect as if said date were Taking"), and the Fixed Expiration DateRent and Additional Charges shall be prorated and adjusted as of such date. 20.02. If only a more than forty (40%) percent of the Building shall be so taken, this Lease shall be unaffected by such taking, except that (a) Landlord may, at its option, provided that Landlord shall terminate leases of no less than fifty (50%) percent of the office space then leased to tenants in the Building upon which the effect of such taking shall have been substantially similar to the effect of same upon the Premises, terminate this Lease by giving Tenant notice to that effect within ninety (90) days after the Date of the Taking, and (b) if twenty (20%) percent or more of the Premises shall be so taken and the remaining area of the Premises shall not be sufficient, in Tenant's reasonable judgment, for Tenant to continue the operation of its business, Tenant may terminate this Lease by giving Landlord notice to that effect within 90 days after the Date of the Taking. This Lease shall terminate on the date that such notice from Landlord or Tenant to the other shall be given, and the Fixed Rent and Additional Charges shall be prorated and adjusted as of such termination date, except that with respect to any portion of the Premises which is the subject of the taking, if earlier, as of the Date of the Taking. Upon such partial taking and this Lease continuing in force as to any part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of titlePremises, the Fixed Rent and Additional Rent, if any, Charges shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears adjusted according to the total rentable area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenantremaining. SECTION 12.220.03. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award or payment in connection with any taking without deduction therefrom for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair estate vested in Tenant by this Lease and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have receive no claim against Landlord or the condemning authority for the value part of any unexpired portion of the Term and such award except as hereinafter expressly provided in this Article 20. Tenant hereby expressly assigns to Landlord all of its right right, title and interest in and to any every such award. Nothing contained in this Section 12.2 award or payment; provided, however, that Tenant shall be deemed have the right to prevent Tenant from making make a separate claim in for its moving expenses and to the extent the award otherwise payable to Landlord shall not be diminished thereby, for any condemnation proceedings for the value of any Tenant's Property included taken. 20.04. If the temporary use or occupancy of all or any part of the Premises shall be taken by condemnation or in any other manner for any public or quasi-public use or purpose during the term of this Lease, Tenant shall be entitled, except as hereinafter set forth, to receive that portion of the award or payment for such takingtaking which represents compensation for the use and occupancy of the Premises, for the taking of Tenant's Property and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything and Landlord shall be entitled to receive that portion which represents reimbursement for the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or cost of restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this . This Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term remain unaffected by such taking and estate hereby granted Tenant shall expire continue to be responsible for all of its obligations hereunder insofar as of the date of termination stated such obligations are not affected by such taking and shall continue to pay in said Notice with the same effect as if that date were the Fixed Expiration Date, and full the Fixed Rent and Additional Rent hereunder Charges when due. If the period of temporary use or occupancy shall extend beyond the Expiration Date of this Lease, that part of the award which represents compensation for the use and occupancy of the Premises (or a part thereof) shall be apportioned divided between Landlord and Tenant so that Tenant shall receive so much thereof as represents the period up to and including such Expiration Date and Landlord shall receive so much thereof as represents the period after such Expiration Date. All monies paid as, or as part of such datean award for temporary use and occupancy for a period beyond the date to which the Fixed Rent and Additional Charges have been paid shall be received, held and applied by Landlord as a trust fund for payment of the Fixed Rent and Additional Charges becoming due hereunder. 20.05. Notwithstanding In the event of a taking of less than the whole of the Building and/or the Land which does not result in termination of this Lease as provided Lease, or in the event of a taking for a temporary use or occupancy of all or any part of the Premises which does not result in a termination of this Subsection 12.3(ALease, (a) Landlord Landlord, at its expense, and whether or not any award or awards shall be obligated sufficient for the purpose, shall proceed with reasonable diligence to reimburse to Tenant a portion repair the remaining parts of the cost Building and the Premises (other than those parts of any Maintenance Repair or Requirement Alterations the Premises which are deemed Landlord's property pursuant to Section 12.01 hereof and Tenant's Property) to substantially their former condition to the extent required by that the same may be feasible (subject to reasonable changes which Landlord shall deem desirable) and so as to constitute a complete and rentable Building and Premises and (b) Tenant, at its expense, and whether or not any award or awards shall be sufficient for the purpose, shall proceed with reasonable diligence to repair the remaining parts of the Premises which are deemed Landlord's property pursuant to Section 7.1 above12.01 hereof (excluding any structural elements of the Premises) and Tenant's Property, to substantially their former condition to the extent that the same may be feasible, subject to reasonable changes which shall be deemed Alterations.

Appears in 1 contract

Sources: Lease Agreement (Broadview Networks Holdings Inc)

Eminent Domain. SECTION 12.122.01. If the whole of the Premises is acquired Building shall be lawfully taken by condemnation or condemned in any other manner for any public or quasi-public use or of purpose, this Lease and the Term term and estate hereby granted shall end forthwith terminate as of the date of vesting of title on such taking (which date is herein after also referred to as the "date of the taking"), and the rents shall be prorated and adjusted as of such date. 22.02. If any part of the Building shall be so taken, this Lease shall be unaffected by such taking, except that Tenant may elect to terminate this Lease in the event of a permanent partial taking, of or part of the Demised Premises if the Demised Premises are not be reasonably sufficient for Tenant to continue feasible operation of its business. Tenant shall give notice of such election to Landlord not later than thirty (30) days after the date of such taking. Upon the giving of such notice to Landlord, this Lease shall terminate on the date of service of notice and the rents apportioned to the part of the Demised Premises so taken shall be prorated and adjusted as of the date of the vesting taking and the rents apportioned to the remainder of title with the same effect Demised Premises shall be prorated and adjusted as if said date were the Fixed Expiration Dateof such termination date. If only a Upon such partial taking and this Lease continuing in force as to any part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of titleDemised Premises, the Fixed Rent and Additional Rent, if any, rents apportioned to the part taken shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease prorated and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire adjusted as of the date of termination stated in said Notice, with taking and from such date the same effect as if that date were fixed rent shall be reduced to the Fixed Expiration Date. In amount apportioned to the event remainder of any termination of this Lease the Demised Premises and the Term additional rent shall be payable pursuant to Article 5 according to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenantrentable area remaining. SECTION 12.222.03. In the event of any such acquisition or condemnation of all or any part of the PremisesExcept as specifically set forth in Section 22.04. hereof, 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 such acquisition or condemnationestate vested in Tenant by this Lease, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have receive no claim against Landlord or the condemning authority for the value part of any unexpired portion of the Term and such award. Tenant hereby expressly assigns to Landlord all of its right right, title, and interest in and or to any every such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making may claim a separate claim in any condemnation proceedings award for the value unamortized portion of the cost incurred by Tenant in connection with any of Tenant's Property included installed pursuant to this Lease. In addition, Tenant may ▇▇▇ the appropriate agency for relocation expenses. 22.04. If the temporary use or occupancy of all or any part of the Demised Premises shall be lawfully taken by condemnation or in any other manner for any public or quasi-public use or purpose during the term of this Lease, Tenant shall be entitled, except as hereinafter set forth, to receive any award for such taking up to the aggregate of all fixed rent and additional rent provided any such reward does not serve to diminish Landlord's award in any respect whatsoever and, if so awarded, for the taking of Tenant's Property and for moving expenses, and Landlord shall be entitled to receive that portion which represents reimbursement for the cost of restoration of the Demised Premises. This Lease shall be and remain unaffected by such taking and Tenant shall remain responsible for all of its obligations hereunder insofar as such obligations are not affected by such taking and shall continue to pay in full the fixed rent and additional rent when due. If the period of temporary use or occupancy of the Demised Premises (or a part thereof) shall be divided between Landlord and Tenant so that Tenant shall receive so much thereof as represents the period prior to the Expiration Date and Landlord shall receive so much thereof as represents the period subsequent to the Expiration Date. All moneys received by Tenant as, or as part of, an award for temporary use and occupancy for a period beyond the date to which the rents hereunder have been paid by Tenant shall be received, held, and applied by Tenant as a trust fund for payment of the rents falling due hereunder. Any temporary taking which lasts longer than nine (9) months shall constitute a permanent taking. 22.05. In the event of any taking of less than the whole of the Building which does not result in a termination of this Lease, or in the event of a taking for a temporary use or occupancy of all or any part of the Demised Premises which does not extend beyond the Expiration Date, Landlord, at its expense, shall proceed with reasonable diligence to repair, alter, and restore the remaining parts of the Building and the Demised Premises to substantially their former condition to the extent that the same may be feasible and so as to constitute a complete and tenantable Building and Demised Premises provided that Landlord's liability under this Section 22.05 shall be limited to the net amount (after deducting all costs and expenses, including, but not limited to, legal expenses incurred in connection with the eminent domain proceeding) received by Landlord as an award arising out of such taking. If such taking occurs within the last three (3) years of the term of this Lease, Landlord shall have the right to terminate this Lease by giving the Tenant written notice to such effect within ninety (90) days after such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, this Lease shall then expire on that effective date stated in the event that: (1) notice as if that were the Landlord fails to commence any repairsExpiration Date, reconstruction or restoration of but the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease fixed rent and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination additional rent shall be given, then this Lease prorated and the term and estate hereby granted shall expire adjusted as of the date of termination stated in said Notice with such taking. If such taking occurs during the same last two (2) years of the term of this Lease, then Tenant shall have the right to terminate this lease by giving the Landlord written notice to such effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent foregoing provisions of this Section 22.05 shall apply with respect to the Tenant's notification to terminate. 22.06. Should any part of the Demised Premises be taken to effect compliance with any law or requirement of public authority other than in the manner hereinabove provided in this Article then, (i) if such compliance is the obligation of Tenant under this Lease, Tenant shall not be entitled to any diminution or abatement of rent or other compensation from Landlord therefor, but (ii) if such compliance is the obligation of Landlord under this Lease, the fixed rent hereunder shall be apportioned reduced and additional rents under Article 5 shall be adjusted in the same manner as is provided in Section 22.02 according to the reduction in rentable area of the Demised Premises resulting from such datetaking. 22.07. Notwithstanding Any dispute which may arise between the termination parties with respect to the meaning or application of any of the provisions of this Lease as Article shall be determined by arbitration in the manner provided in this Subsection 12.3(AArticle 33. 22.08. Landlord and Tenant agree that any taking limited to the parking deck and surrounding areas, within the Land, which results in a permanent loss of twenty percent (20%) Landlord of the parking spaces, then such event shall be obligated to reimburse to Tenant deemed a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 abovetaking under this Article 22.

Appears in 1 contract

Sources: Lease Agreement (Pxre Group LTD)

Eminent Domain. SECTION 12.1. Section 11.1 - Partial or Total Taking If the whole all or substantially all of the Premises or Building is acquired condemned or condemned taken in any manner for any public or quasi-public use use, including, but not limited to, a conveyance or purposeassignment in lieu of a condemnation or taking, this Lease and shall automatically terminate as of the Term shall end as earlier of the date of the vesting of title with or the same effect date of dispossession of Tenant as if said date were the Fixed Expiration Datea result of such condemnation or other taking. If only a part less than all or substantially all of the Premises is so acquired condemned or condemned then, except as hereinafter provided in this Section 12.1taken, this Lease and shall automatically terminate only as to the Term shall continue in effect but, if a part portion of the Premises is so acquired or condemned, from and after taken as of the earlier of the date of the vesting of titletitle or the date of dispossession of Tenant as a result of such condemnation or taking, the Fixed Rent and Additional Rent, provided that if any, shall be reduced in the proportion which the area of the part so much of the Premises so acquired or condemned bears is taken as to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease materially and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to adversely impair Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part 's use of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against the right to terminate this Lease exercisable by giving Landlord or the condemning authority for the value written notice of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises termination within sixty (60) days after the physical taking date of a notice to Landlord of the date on which said vesting or dispossession will occur. Such termination by Tenant shall be effective as of the earlier of the date of vesting of title or the date of dispossession of Tenant, if such portion of the Premises; or (2) Landlord fails complete all repairsPremises is condemned or otherwise taken so as to require, in the opinion of Landlord, a substantial alteration or reconstruction or restoration of the Premises within one hundred twenty (120) days after remaining portions thereof, this Lease may be terminated by Landlord, as of the earlier of the date of such physical taking, then, the vesting of title or the date of dispossession of Tenant as a result of such condemnation or taking, by written notice to Tenant given within sixty (60) days following notice to Landlord of the date on which said vesting or dispossession will occur. Tenant hereby waives any circumstances described right which it may have during the Lease Term under California Code of Civil Procedure Sections 1263.110 through 1265.140, and any similar law now or hereafter in subparagraphs (1) or (2) hereofeffect, including, without limitation, the Tenant, at Tenant's option, may right to petition a court to terminate this Lease and in the term and estate hereby granted, by notifying the Landlord in writing event of such termination within thirty (30) days after the passage a partial taking of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 abovePremises.

Appears in 1 contract

Sources: Lease (California Microwave Inc)

Eminent Domain. SECTION 12.1. If Supplementing Article 10 hereof: 50.01 In the event that the whole of the Premises is acquired premises shall be lawfully condemned or condemned taken in any manner for any public or quasi-public use or purposepurpose (other than for temporary use or occupancy), this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease lease and the Term and estate hereby granted shall expire forthwith cease and terminate as of the date of termination stated in said Noticevesting of title (hereinafter referred to as the “date of taking”), with and Tenant shall have no claim against Owner for, or make any claim for, the same effect as if that date were value of any unexpired Term of this lease, and the Fixed Expiration Date. Rent and Additional Rent shall be apportioned as of such date. 50.02 In the event that any part of any termination of the premises shall be so condemned or taken, then this Lease lease shall be and the Term pursuant to the provisions of this Section 12.1remain unaffected by such condemnation or taking, except that the Fixed Rent or and Additional Rent allocable to the part so taken shall be apportioned as of the date of sooner taking, provided, however, that Tenant may elect to cancel this lease in the event all access to the demised premises or more than ten percent (10%) of the premises should be so condemned or taken or if such building services as are reasonably necessary for the conduct of Tenant’s business can no longer be supplied, provided such notice of election is given by Tenant to Owner not later than forty-five (45) days after notice to Tenant of the date when title shall vest in the condemning authority. Upon the giving of such notice, this lease shall terminate on the tenth (10th) day following the date of such notice and the Fixed Rent and Additional Rent allocable to the part not taken shall be apportioned as of such termination date. Owner shall promptly give Tenant copies of any notice received from the condemning authority as to vesting. Upon such partial taking and this lease continuing in effect as to any prepaid part of the premises, the Fixed Rent and Additional Rent shall be diminished by an amount representing the part of said Fixed Rent and Additional Rent properly applicable to the portion or portions of the premises which may be so condemned or taken. If as a result of the partial taking (and this lease continuing in effect as to the part of the premises not so taken), any part of the premises not taken is damaged, Owner agrees with reasonable promptness to commence the work necessary to restore the damaged portion to the condition existing immediately prior to the taking, and prosecute the same with reasonable diligence to its completion. 50.03 In the event that only a part of the premises shall be so taken and Tenant shall not have elected to cancel this lease as above provided, the entire award for a partial taking shall be paid to Owner, and Owner, at Owner’s own expense, shall restore the unaffected part of the Building to substantially the same condition and as existed prior to the taking. 50.04 Until said unaffected portion is restored, Tenant shall be entitled to a proportionate abatement of Fixed Rent and Additional Rent for that portion of the Fixed Rent premises which is not usable and is not used, until the completion of the restoration or until the portion of the premises being restored is fit for any period after such date occupancy by Tenant for the conduct of its business, whichever occurs sooner. Said unaffected portion shall be refunded restored within a reasonable time but not more than three (3) months after the taking; provided, however, if Owner is delayed by Landlord strike, lockout, the elements, or other causes beyond Owner’s control (which shall include the non-payment of funds in such condemnation proceeding), the time for completion shall be extended for a period equivalent to Tenantthe delay. Should Owner fail to complete the restoration within the said three (3) months as the same may be extended as aforesaid, Tenant may elect to cancel this lease and the Term hereby granted provided such notice of election is given by Tenant to Owner not later than thirty (30) days after the end of said three (3) month or extended period, as the case may be. SECTION 12.2. 50.05 In the event of any such acquisition condemnation or condemnation taking hereinbefore mentioned of all or any a part of the PremisesBuilding or the premises, Landlord Owner shall be entitled to receive the entire award in the condemnation proceeding, including any award made for the value of the estate vested by this lease in Tenant, and Tenant hereby expressly assigns to Owner any and all right, title and interest of Tenant now or hereafter arising in or to any such acquisition award or condemnationany part thereof, but and Tenant shall be obligated entitled to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to receive no part of such award. In any condemnation proceeding Tenant may submit a condition most suitable for the Permitted Use. Tenant shall have no separate claim against Landlord or the condemning authority for the value of any unexpired portion of the Term Tenant’s trade fixtures and Tenant hereby expressly assigns to Landlord all of its right in personalty and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair removal or Requirement Alterations relocation, if such separate claims are allowable as such and do not reduce or affect the award otherwise payable to the extent required by Section 7.1 aboveOwner.

Appears in 1 contract

Sources: Office Lease (Medidata Solutions, Inc.)

Eminent Domain. SECTION 12.1. If the whole of the Premises is acquired Premises, the Building, or condemned for any public the Property shall be taken by condemnation or quasi-public use or purposerights of eminent domain (the words "condemnation" and "eminent domain" as used herein to include purchase in lieu thereof) hereinafter collectively referred to as "taking", this Lease and then the Term term hereof shall end cease as of the date of the vesting of title with or as of the same effect as if said date were the Fixed Expiration Dateday possession shall be taken thereunder, whichever is earlier. If only a part twenty-five percent (25%) or more of the Property shall be taken (whether or not the Building or the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty within said twenty-five percent (5025%) of the rentable square feet or if twenty-five percent (25%) or more of the Premises or if, by reason twenty-five percent (25%) or more of such acquisition or condemnation, the Premises Building are a part shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premisestaken, Landlord shall be entitled to receive terminate this Lease effective as of the entire award for any such acquisition day of vesting of title or condemnation, but as of the day possession shall be obligated to proceed with reasonable diligence to repair and restore the Premisestaken thereunder, at Landlord's expensewhichever Landlord shall elect, to a condition most suitable for the Permitted Use. by giving Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all notice of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises election within sixty (60) days after the physical of such vesting of title or taking of possession; but if Landlord does not elect to so terminate this Lease, it shall with due diligence restore the Premises and/or the Building and/or the Property to an architectural unit as nearly like its condition prior to such taking as shall be practical. If twenty-five percent (25%) or more of the Premises shall be taken, or if twenty-five percent (25%) or more of the Building of which the Premises are a part shall be taken, including in such taking some portion of the Premises; or , Tenant shall be entitled to terminate this Lease by giving notice to Landlord to that effect within sixty (260) Landlord fails complete all repairs, reconstruction or restoration days following the taking of possession of the Premises within one hundred twenty (120) days after the date of such physical takingPremises, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate which event this Lease and the term hereof shall cease and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage terminate as of the times periods end of the calendar month in subparagraphs (1) and (2) above. In the event that which such a Notice of termination notice shall be given, then . If this Lease and the term and estate hereby granted shall expire is not terminated as hereinbefore provided, either by Landlord or Tenant, all of the date provisions hereof shall continue in effect, but in case there shall be a reduction of termination stated in said Notice with the same effect as if that date were floor area of the Fixed Expiration DatePremises by reason of such taking, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 above.be

Appears in 1 contract

Sources: Lease Agreement (Net Genesis Corp)

Eminent Domain. SECTION 12.120.01. If the whole of the Building or the Premises is acquired shall be taken by condemnation or condemned in any other manner for any public or quasi-public use or purpose, this Lease lease and the Term term and estate hereby granted shall end terminate as of the date of the vesting of title with on such taking (herein called “Date of the same effect as if said date were Taking”), and the Fixed Expiration DateRent and Additional Charges shall be prorated and adjusted as of such date. 20.02. If only a any part of the Premises is Building or the Land shall be so acquired or condemned thentaken, this lease shall be unaffected by such taking, except that (a) Landlord may, at its option, terminate this lease by giving Tenant notice to that effect within ninety (90) days after the Date of the Taking, and (b) if ten (10%) percent or more of the rentable area of the Premises shall be so taken and, if as hereinafter provided in a result of any such partial taking, the entire Premises become untenantable, or there shall be no access to the Premises, Tenant may terminate this Section 12.1lease by giving Landlord notice to that effect within 90 days after the Date of the Taking. This lease shall terminate on the date that such notice from Landlord or Tenant to the other shall be given, this Lease and the Term Fixed Rent and Additional Charges shall continue be prorated and adjusted as of such termination date. Upon such partial taking and this lease continuing in effect but, if a force as to any part of the Premises is so acquired or condemned, from and after the date of the vesting of titlePremises, the Fixed Rent and Additional Rent, if any, Tenant’s Share shall be reduced and the Base Tax Amount and Base Operating Amount shall be adjusted in the proportion which that the area of the part of the Premises so acquired or condemned taken bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to TenantPremises. SECTION 12.220.03. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award or payment in connection with any taking without reduction therefrom for any such acquisition estate vested in Tenant by this lease or condemnation, but shall be obligated any value attributable to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term term of this lease and Tenant shall receive no part of such award except as hereinafter expressly provided in this article. Tenant hereby expressly assigns to Landlord all of its right right, title and interest in and to every such award or payment and waives any such awardright to the value of the unexpired portion of the term of this lease. Nothing contained in this Section 12.2 20.03 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the then value of any Tenant's ’s Property included in such taking, and the then unamortized value, as of the date of taking, calculated on a straight line basis over the term of this lease, of any amount paid by Tenant on account of any leasehold improvements installed by Tenant or at Tenant’s expense and for any moving expenses, but only if such claim shall be awarded by the condemnation court in addition to, and shall not result in the reduction of, the award made by it for the Building or the Land so long as Landlord's award is not reduced therebytaken. (A) Notwithstanding anything 20.04. If the temporary use or occupancy of all or any part of the Premises shall be taken by condemnation or in any other manner for any public or quasi-public use or purpose during the term of this lease, Tenant shall be entitled, except as hereinafter set forth, to receive that portion of the contrary contained in Sections 12.1 award or payment for such taking which represents compensation for the use and 12.2 aboveoccupancy of the Premises, in for the event that: (1) taking of Tenant’s Property and for moving expenses, and Landlord shall be entitled to receive that portion which represents reimbursement for the Landlord fails to commence any repairs, reconstruction or cost of restoration of the Premises within sixty (60) days after Premises. This lease shall be and remain unaffected by such taking. If the physical taking period of a portion temporary use or occupancy shall extend beyond the Expiration Date of this lease, that part of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration award which represents compensation for the use and occupancy of the Premises within one hundred twenty (120or a part thereof) days shall be divided between Landlord and Tenant so that Tenant shall receive so much thereof as represents the period up to and including such Expiration Date and Landlord shall receive so much thereof as represents the period after such Expiration Date. All monies paid as, or as part of, an award for temporary use and occupancy for a period beyond the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and to which the Fixed Rent and Additional Rent hereunder Charges have been paid shall be apportioned received, held and applied by Landlord as a trust fund for payment of the Fixed Rent and Additional Charges becoming due hereunder and Tenant shall have no obligation to pay any excess monies to Landlord or to otherwise comply with the provisions of this lease during such period that Tenant shall not have the right to occupy the Premises by reason of such datetemporary taking. 20.05. Notwithstanding In the event of a taking of less than the whole of the Building and/or the Land which does not result in termination of this Lease as provided lease, or in the event of a taking for a temporary use or occupancy of all or any part of the Premises which does not result in a termination of this Subsection 12.3(Alease, (a) Landlord Landlord, at its expense, and whether or not any award or awards shall be obligated sufficient for the purpose, shall proceed with reasonable diligence to reimburse to Tenant a portion repair the remaining parts of the cost of Building and the Premises (other than any Maintenance Repair or Requirement Alterations leasehold improvements) to substantially their former condition to the extent required by Section 7.1 above.that the same may be feasible (subject to reasonable changes which Landlord shall deem desirable) and so as to constitute a complete and rentable Building and Premises and

Appears in 1 contract

Sources: Lease Agreement (Arch Capital Group LTD)

Eminent Domain. SECTION 12.1. If 12.01 - Eminent Domain ----------------------- (a) In the event that title to the whole or any part of the Premises is acquired shall be lawfully condemned or condemned taken in any manner for any public or quasi-public use or purposeuse, this Lease and the Term term and estate hereby granted shall end forthwith cease and terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Usereal property. Tenant shall have no hereby assigning to Landlord Tenant's interest therein, if any, provided Tenant may make a claim against Landlord or the condemning authority for the value of any unexpired portion of the Term its property and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced therebyexpenses Incurred. (Ab) Notwithstanding anything In the event that title to a part of the contrary contained in Sections 12.1 Building other than the Premises shall be so condemned or taken and 12.2 above, if in the event that: (1) opinion of Landlord, the Landlord fails Building should be restored in such a way as to commence any repairs, reconstruction or restoration of alter the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) materially, Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, granted by notifying the Landlord in writing Tenant of such termination within thirty sixty (3060) days after following the passage date of the times periods in subparagraphs (1) vesting of title, and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of on the date specified in the notice of termination stated in said Notice with termination, which date shall be not less than sixty (60) days after the same effect giving of such notice, as fully and completely as if that such date were the Fixed Expiration Datedate hereinbefore set for the expiration of the term of this Lease, and the Fixed Rent fixed monthly rent, additional rent, and Additional Rent other charges hereunder shall be apportioned as of if such date. Notwithstanding In such event. Tenant shall not be entitled to any portion of Landlord's award hereunder. if any, nor shall Tenant have any claim against Landlord for the termination value of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a the unexpired portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 aboveterm.

Appears in 1 contract

Sources: Office Space Lease (Broadview Networks Holdings Inc)

Eminent Domain. SECTION Section 12.1. If the whole of the Premises is acquired or condemned for any public or quasi-public use or purpose, this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1Section, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted UseUse as occupied by Tenant at the time of such eminent domain or condemnation, in Tenant’s reasonable judgment, then either Landlord or Tenant and/or Landlord, at Landlord’s/Tenant’s option, may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination Termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1Section, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION Section 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but condemnation and agrees to use the net award to pay the cost of restoration of the Premises to the extent of the net condemnation award. Landlord shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, Premises to a condition most suitable for the Permitted UseUse to the extent of the net condemnation award. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's ’s Property included in such taking, and for any moving expenses, so long as Landlord's ’s award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 above.

Appears in 1 contract

Sources: Lease Agreement (Fenix Parts, Inc.)

Eminent Domain. SECTION 12.1. If the whole of the Premises is acquired Premises, or condemned for any public part thereof, or quasi-public use or purpose, this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty thirty percent (5030%) of the rentable square feet Showroom, is taken under the power of eminent domain (including any conveyance made in lieu thereof), and if such taking makes the operation of Tenant's business in the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Useimpractical, then either Landlord or Tenant may party shall have the right to terminate this Lease and the Term and estate hereby granted, by notifying delivery of written notice to the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after title vests in the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the condemning authority. The effective date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within shall be thirty (30) days after the passage date of the times periods notice of termination; provided, however, that Tenant's obligation to pay rent shall cease at the time Tenant is dispossessed of the Premises as a result of such taking. If neither party elects to terminate this Lease, Landlord shall apply the proceeds of condemnation to restore the Premises and the Showroom to a tenantable condition as soon as practical, in subparagraphs (1) and (2) above. In which event the event that such a Notice of termination rental paid by Tenant under this Lease shall be givenproportionately and equitably reduced. Notwithstanding anything in this paragraph B.25 to the contrary, then this Lease and the term and estate hereby granted Landlord shall expire as not be required to pay, but may at its option choose to pay, for such restoration or repair any amount in excess of the date condemnation award (or the proceeds of termination stated private sale in said Notice with lieu thereof) received by Landlord as the result of such taking. If less than thirty percent (30%) of the Showroom, none of which is the Premises, is taken under the power of eminent domain, than Landlord shall restore the Showroom on the same effect terms and conditions as if Landlord had elected to restore under the preceding paragraph; provided, however, that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall not be obligated to reimburse pay for such restoration or repair any amount in excess of the condemnation amount (or the proceeds of private sale in lieu thereof) received by Landlord as the result of such taking. All compensation awarded for any taking (or the proceeds of private sale in lieu thereof), whether for the whole or a part of the Premises, shall be the property of Landlord, whether such award is compensation for damages to Landlord's or Tenant's interest in the Premises, and Tenant hereby assigns all of its interest in any such award to Landlord; provided, however, Landlord shall have no interest in any award made to Tenant for relocation expenses or for the taking of Tenant's trade fixtures and other property within the Premises (that Tenant is authorized to remove at termination pursuant to paragraphs B.17 and B.21) if a portion separate award of the cost of any Maintenance Repair or Requirement Alterations such items is made to the extent required by Section 7.1 aboveTenant.

Appears in 1 contract

Sources: Lease Agreement (Wellington Hall LTD)

Eminent Domain. SECTION 12.1. A. If the whole of the Building or Premises or Land is acquired lawfully taken by condemnation or condemned sold under threat of the exercise of such power, or taken in any other manner for any public or quasi-quasi public use or purpose, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything Rent shall be prorated to such date. If less than the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration whole of the Building or Premises is so taken, this Lease shall be unaffected by such taking, provided that (i) Tenant shall have the right to terminate this Lease by notice to Landlord given within sixty ninety (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (12090) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs taking if twenty percent (120%) or more of the Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (2ii) hereof, Landlord shall have the Tenant, at Tenant's option, may right to terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination notice to Tenant given within thirty ninety (3090) days after the passage date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall terminate on the thirtieth (30th) day after either such notice. The Rent shall be prorated to the date of termination. If this Lease continues in force upon such partial taking, the Base Rent and Tenant's Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the times periods in subparagraphs (1) Premises and (2) above. Project. B. In the event that such a Notice of termination any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be giventhe exclusive property of Landlord, then this Lease and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the term condemning authority. Tenant, however, shall have the right, to the extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and estate hereby granted shall expire as damage to Tenant's personal property. C. In the event of a partial taking of the date of termination stated Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the cost of any Maintenance Repair Premises as nearly as practicable to its condition prior to the condemnation or Requirement Alterations taking, but only to the extent required of Building Standard Work. Landlord's obligation to restore the remaining portion of the Premises should be subject to the amount of damages applicable to the same. Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant's Property. D. The rights and obligations of the parties hereto are subject to the rights of lenders who hold a security interest in the Project to require that casualty insurance proceeds relating to the Project be applied against the debt secured by Section 7.1 abovethe project.

Appears in 1 contract

Sources: Office Building Lease (Mediquik Services Inc)

Eminent Domain. SECTION 12.114.1. If In the event that the whole of the Premises is acquired demised premises shall be lawfully condemned or condemned taken in any manner for any public or quasi-public use or purpose, this Lease and the Term term and estate hereby granted shall end forthwith cease and terminate as of the date of the vesting of title with (hereinafter referred to as the same effect as if said "date were of taking"), and Tenant shall have no claim against Landlord for, or make any claim for the Fixed Expiration Date. If only a part value of the Premises is so acquired or condemned thenany unexpired term of this Lease, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from fixed annual rent and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, additional rent shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason apportioned as of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of titledate. 14.2. In the event that such Notice any part of termination the demised premises shall be givenso condemned or taken, then this Lease shall be and remain unaffected by such condemnation or taking, except that the Term fixed annual rent and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant additional rent allocable to the provisions of this Section 12.1, the Fixed Rent or Additional Rent part so taken shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expensesprovided, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything however, that Tenant may elect to the contrary contained in Sections 12.1 and 12.2 above, cancel this Lease in the event that: that more than twenty-five (125%) the Landlord fails to commence any repairs, reconstruction or restoration percent of the Premises within sixty (60) days after the physical taking demised premises should be so condemned or taken, provided such notice of a portion of the Premises; or (2) election is given by Tenant to Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within not later than thirty (30) days after the passage date when title shall vest in the condemning authority. Upon the giving of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be givennotice, then this Lease and shall terminate on the term and estate hereby granted shall expire as of thirtieth day following the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, such notice and the Fixed Rent fixed annual rent and Additional Rent hereunder additional rent shall be apportioned as of such termination date. Notwithstanding Upon such partial taking and this Lease continuing in force as to any part of the termination demised premises, the fixed annual rent and additional rent shall be diminished by an amount representing the part of the fixed annual rent and additional rent properly applicable to the portion or portions of the demised premises which may be so condemned or taken. If as a result of the partial taking (and this Lease continuing in force as to the part of the demised premises not so taken), any part of the demised premises not taken is damaged, Landlord agrees with reasonable promptness to commence the work necessary to restore the damaged portion to the condition existing immediately prior to the taking, and prosecute the same with reasonable diligence to its completion. In the event Landlord and Tenant are unable to agree as to the amount by which the fixed annual rent and additional rent shall be diminished, the matter shall be determined by arbitration in accordance with the provisions of Article 33 of this Lease. Pending such determination, Tenant shall pay to Landlord the fixed annual rent and additional rent as fixed by Landlord, subject to adjustment in accordance with the arbitration. 14.3. Nothing herein provided shall preclude Tenant from appearing, claiming, proving and receiving in the condemnation proceeding, Tenant's moving expenses, and the value of Tenant's fixtures, or Tenant's alterations, installments and improvements which do not become part of the Building, or property of Landlord. 14.4. In the event that more than twenty-five (25%) percent of the demised premises shall be so taken and Tenant shall not have elected to cancel this Lease as provided in this Subsection 12.3(A) Landlord above provided, the entire award for a partial taking shall be obligated paid to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations Landlord, and Landlord, at Landlord's own expense, shall to the extent required by Section 7.1 aboveof the net proceeds (after deducting reasonable expenses including attorneys' and appraisers' fees) of the award restore the unaffected part of the demised premises to substantially the same condition and tenantability as existed prior to the taking.

Appears in 1 contract

Sources: Lease Agreement (Pimco Advisors Holdings Lp)

Eminent Domain. SECTION 12.1. a. If the whole of the Building or Premises is acquired lawfully taken by condemnation or condemned in any other manner for any public or quasi-public use or purpose, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything Rent shall be prorated to such date. If less than the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration whole of the Building or Premises is so taken, this Lease shall be unaffected by such taking, provided that (i) Tenant shall have the right to terminate this Lease by notice to Landlord given within sixty ninety (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (12090) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs taking if twenty percent (120%) or more of the Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (2ii) hereof, Landlord shall have the Tenant, at Tenant's option, may right to terminate this Lease and by notice to Tenant given within ninety (90) days alter the term and estate hereby granted, by notifying the Landlord in writing date of such termination within thirty taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall terminate on the thirtieth (3030th) days day after either such notice. The Rent shall be prorated to the passage date of termination. If this Lease continues in force upon such partial taking, the Base Rent and Tenant's Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the times periods in subparagraphs (1) Premises and (2) above. Project. b. In the event that such a Notice of termination any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be giventhe exclusive property of Landlord, then this Lease and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the term condemning authority. Tenant, however, shall have the right, to the extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and estate hereby granted shall expire as damage to Tenant's personal property. c. In the event of a partial taking of the date of termination stated Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the cost of any Maintenance Repair Premises as nearly as practicable to its condition prior to the condemnation or Requirement Alterations taking, but only to the extent required by Section 7.1 aboveof Building Standard Work. Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant's Property.

Appears in 1 contract

Sources: Lease Agreement (Air Methods Corp)

Eminent Domain. SECTION 12.1. 19.01 If the whole of the Demised Premises is acquired shall be condemned or condemned taken in any manner for any public or quasi-public use or purposeuse, the Term of this Lease shall cease and the Term shall end terminate as of the date of the vesting of title with title. 19.02 In the same effect as if said date were event that less than the Fixed Expiration Date. If only a part whole of the Demised Premises is shall be so acquired condemned or condemned taken, then, except effective as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, hereunder shall be reduced abated in the proportion which an amount thereof apportioned according to the area of the part Demised Premises so condemned or taken. 19.03 In the event that less than the whole of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises Building shall be rendered wholly so condemned or substantially unsuitable for the Permitted Usetaken, then either Landlord (whether or Tenant may not the Demised Premises are affected) may, at Landlord's option, terminate this Lease and the Term and estate hereby granted, granted hereunder by notifying the other party Tenant in writing of such termination within one hundred twenty sixty (12060) days after following the date upon which Tenant receives Notice of vesting of title. In If this Lease be terminated pursuant to the event that such Notice of foregoing, said termination shall be given, then effective and this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Noticesuch notice from Landlord to Tenant shall be given, with the same effect as if that such date were originally set forth as the Fixed Expiration DateDate hereof and Rent shall be adjusted and prorated as of said date. If Landlord does not elect to terminate this Lease, as aforesaid, this Lease shall be and remain unaffected by such condemnation or taking, except that the Rent under this Lease shall be abated in an amount thereof apportioned according to the area of the Demised Premises so condemned or taken. 19.04 In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent condemnation or Additional Rent shall be apportioned taking as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation hereinbefore mentioned of all or any a part of the PremisesBuilding, subject to the rights of Superior Mortgagee, Landlord shall be entitled to receive the entire award for in the condemnation proceeding, including any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority award made for the value of any unexpired portion of the Term estate vested by this Lease in Tenant, and Tenant hereby expressly assigns to Landlord any and all right, title and interest of its right Tenant now or hereafter arising in and or to any such award or any part thereof, and Tenant shall be entitled to receive no part of such award. Nothing contained in this Section 12.2 The foregoing, however, shall be deemed to prevent not preclude Tenant from making seeking (after Landlord has recovered its award) a separate claim in any condemnation proceedings award for the value Tenant's moving expenses and loss of any Tenant's Property included in if such taking, award does not reduce and for any moving expenses, so long as Landlord's award is not reduced therebypayable out of the award for the Building. (A) Notwithstanding anything 19.05 It is expressly understood and agreed that the provisions of this Article 19 shall not be applicable to any condemnation or taking for governmental occupancy for a limited period. In such instance, Tenant's obligations hereunder shall continue unabated. 19.06 In the contrary contained in Sections 12.1 and 12.2 above, event any part of the Demised Premises be taken to effect compliance with any law or requirement of public authority other than in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical takingmanner hereinabove provided in this Article 19, then, as a result (i) if such compliance is the obligation of Tenant under this Lease, Tenant shall not be entitled to any circumstances described in subparagraphs diminution or abatement of Rent or other compensation from Landlord on account thereof, but (1ii) or (2) hereofif such compliance is the obligation of Landlord under this Lease, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned reduced and/or adjusted, as of such date. Notwithstanding necessary in the termination of this Lease same manner as is provided in this Subsection 12.3(A) Landlord shall be obligated Section 19.02 according to reimburse to Tenant a portion the reduction in area of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 aboveDemised Premises resulting from such taking.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Sl Green Realty Corp)

Eminent Domain. SECTION 12.1. Section 14.1 If the whole of the Buildings or the Premises is acquired or condemned for any public or quasi-public use or purpose, this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of a Building, the Buildings or the Land and not the entire Premises is so acquired or condemned then, (1) except as hereinafter provided in this Section 12.114.1, this Lease and the Term shall continue in effect but, if a part of the Premises is included in the part of a Building or the Land so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and the Additional Rent, if any, Rent payable pursuant to Articles 3 and 4 shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If ; (2) provided that the Premises are affected thereby, Landlord, at Landlord’s option, may give to Tenant, within sixty (60) days next following the date upon which Landlord receives notice of vesting of title, a thirty (30) day notice of termination of this Lease; and (3) if the part of a Building, the Premises Buildings or the Land so acquired or condemned contains more than fifty twenty percent (5020%) of the rentable square feet total area of the Premises immediately prior to such acquisition or condemnation and the remaining area of the Premises shall not be reasonably sufficient for Tenant to continue feasible operation of its business, or if, by reason of such acquisition or condemnation, Tenant no longer has access to the Premises shall be rendered wholly or substantially unsuitable for the Permitted UsePremises, then either Landlord or Tenant Tenant, at Tenant’s option, may terminate this Lease and the Term and estate hereby grantedgive to Landlord, by notifying the other party in writing of such termination within one hundred twenty sixty (12060) days after next following the date upon which Tenant receives Notice notice of vesting of title. In the event that such Notice , a thirty (30) day notice Table of Contents of termination shall be of this Lease. If any such thirty (30) day notice of termination is given, then by Landlord or Tenant, this Lease and the Term shall come to an end and estate hereby granted shall expire as upon the expiration of the date of termination stated in said Notice, thirty (30) days with the same effect as if that the date of expiration of said thirty (30) days were the Fixed Expiration Date. If a part of the Premises is so acquired or condemned and this Lease and the Term are not terminated pursuant to the foregoing provisions of this Section 14.1, Landlord, at Landlord’s cost and expense, shall restore that part of the Premises not so acquired or condemned to a self-contained rental unit, exclusive of Tenant’s Alterations, leasehold improvements and Tenant’s Property. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.114.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent or Additional Rent payable pursuant to Articles 3 and 4 for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. Section 14.2 In the event of any such acquisition or condemnation of all or any part of the PremisesReal Property, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 14.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's ’s Property and Tenant’s Alterations included in such taking, and for any moving expenses, so long as Landlord's ’s award is not reduced thereby. (A) Notwithstanding anything Section 14.3 If the whole or any part of the Premises is acquired or condemned temporarily during the Term for any public or quasi-public use or purpose, the Term shall not be reduced or affected in any way and Tenant shall continue to pay in full all items of Rental payable by Tenant hereunder without reduction or abatement, and Tenant shall be entitled to receive for itself any award or payments for such use; provided, however, that if the contrary contained in Sections 12.1 acquisition or condemnation is for a period extending beyond the Term, such award or payment shall be apportioned between Landlord and 12.2 aboveTenant as of the Expiration Date; provided, in however, that the event that: (1) the Landlord fails to commence amount of any repairs, reconstruction award or payment allowed or retained for restoration of the Premises within sixty (60) days after shall remain the physical taking property of a portion Landlord if this Lease expires prior to the restoration of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 above.

Appears in 1 contract

Sources: Lease Agreement (Progenics Pharmaceuticals Inc)

Eminent Domain. SECTION 12.1Section 13.1. If the whole of the Real Property or the Premises is acquired or condemned for any public or quasi-public use or purpose, this Lease and the Term shall end as of the date of the vesting of title or the date upon which Tenant is denied use and possession of the Premises pursuant to the terms of this Lease, whichever occurs first, with the same effect as if said date were the Fixed Expiration Date. If only a part of the Real Property and not the entire Premises is so acquired or condemned then, (a) except as hereinafter provided in this Section 12.113.1, this Lease and the Term shall continue in effect but, if a part of the Premises is included in the part of the Real Property so acquired or condemned, from and after the date of the vesting of titletitle or Tenant's denial of use and possession, whichever occurs first, the Fixed Base Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If ; and (b) if the part of the Premises Real Property so acquired or condemned contains more than fifty thirty percent (5030%) of the rentable square feet total area of the Premises immediately prior to such acquisition or condemnation, or if, by reason of such acquisition or condemnation, Tenant no longer has access to the Premises shall be rendered wholly or substantially unsuitable for the Permitted UsePremises, then either Landlord or Tenant Tenant, at Tenant’s option, may terminate this Lease and the Term and estate hereby grantedgive to Landlord, by notifying the other party in writing of such termination within one hundred twenty sixty (12060) days after next following the date upon which Tenant receives Notice notice of vesting of title. In the event that such Notice , a thirty (30) day notice of termination shall be of this Lease. If any such thirty (30) day notice of termination is given, then by Tenant, this Lease and the Term shall come to an end and estate hereby granted shall expire as upon the expiration of the date of termination stated in said Notice, thirty (30) days with the same effect as if that the date of expiration of said thirty (30) days were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.113.1, the Fixed Rent or Additional Base Rent shall be apportioned as of the date of sooner the termination and any prepaid portion of the Fixed Base Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2Section 13.2. In the event of any such acquisition or condemnation of all or any part of the PremisesReal Property, Landlord shall be entitled to receive the entire pursue an award for any such acquisition or condemnation, but shall be obligated condemnation as to proceed with reasonable diligence the Buildings (subject to repair and restore the Premises, at LandlordTenant's expense, to a condition most suitable for the Permitted Userights under this Section 13.2). Tenant shall have no claim against Landlord or be entitled to pursue an award for any loss from the condemning authority authority, including, without limitation, for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Term, Tenant's Property included in such takingWork, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Alterations and/or Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 aboveProperty.

Appears in 1 contract

Sources: Lease Agreement (Wright Medical Group Inc)

Eminent Domain. SECTION Section 12.1. If the whole of the Premises is acquired or condemned for any public or quasi-public use or purpose, this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said such date were the Fixed Expiration DateDate or the Expiration Date of any Option Period, as applicable. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided below in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Base Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall shall, in Tenant’s reasonable judgment, be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant Tenant, at Tenant’s option, may terminate this Lease and the Term and estate hereby granted, by notifying the other party Landlord in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire terminate as of the date of termination stated in said such Notice, with the same effect as if that such date were the Fixed Expiration DateDate or the Expiration Date of any Option Period, as applicable. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Base Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Base Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION Section 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's ’s expense, to a condition most reasonably suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term Term, and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for (a) the value of any of Tenant's ’s Property included in such taking, taking and for (b) any moving expenses, in each case so long as Landlord's ’s award is not reduced thereby. (A) Section 12.3. Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above12.2, in the event that: (1a) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a any portion of the Premises; or (2b) Landlord fails to complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, ; then, as a result of any circumstances circumstance described in subparagraphs clause (1a) or (2b) hereofabove, the Tenant, at Tenant's ’s option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods applicable time period specified in subparagraphs clause (1a) and or (2b) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire terminate as of the date of termination stated in said such Notice with the same effect as if that such date were the Fixed Expiration DateDate or the Expiration Date of any Option Period, as applicable, and the Fixed Base Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Section 12.3, Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations Alteration to the extent required by Section 7.1 above7.1.

Appears in 1 contract

Sources: Purchase Agreement (Comfort Systems Usa Inc)

Eminent Domain. SECTION 12.1. (a) If the whole (i) all of the floor area of the Premises, or so much thereof as shall render the Premises is wholly untenantable, shall be acquired or condemned for any public or quasi-public use or purpose, or (ii) a portion of the Real Property, not including the Premises, shall be so acquired or condemned, but by reason of such acquisition or condemnation, Tenant no longer has means of access to the Premises, then this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1Article 12, the Fixed Rent or and Additional Rent shall be apportioned as of the date of sooner such termination and any prepaid portion of the Fixed Rent or Additional Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2(b) If the part of the Real Property so acquired or condemned contains more than twenty-five percent (25%) of the total area of the Premises immediately prior to such acquisition or condemnation, or if, by reason of such acquisition or condemnation Tenant no longer has reasonable means of access to the Premises, Tenant may terminate this Lease by notice to Landlord given within thirty (30) days following the date upon which Tenant receives notice of such acquisition or condemnation. If Tenant so notifies Landlord, this Lease shall terminate and the Term shall end and expire upon the thirtieth (30th) day following the giving of such notice. Section 12.2 In the event of any such acquisition or condemnation of all or any part of the PremisesReal Property, Landlord shall be entitled to receive the entire award for any such 44 acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term or Tenant's Alterations, and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the then value of any Tenant's Property included in such taking, taking and for any moving expenses, so long as provided such award shall be made by the condemning authority in addition to, and shall not result in a reduction of, the award made by it to Landlord's award is not reduced thereby. (A) Notwithstanding anything Section 12.3 If only a part of the Real Property shall be so acquired or condemned then, subject to Section 12.1, this Lease and the contrary contained Term shall continue in Sections 12.1 force and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration effect. If a part of the Premises within sixty (60) days after shall be so acquired or condemned and this Lease and the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairsTerm shall not be terminated, reconstruction or restoration Landlord, at Landlord's expense, shall restore that part of the Premises within one hundred twenty (120) days not so acquired or condemned so as to constitute tenantable Premises. From and after the date of such physical takingthe vesting of title, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding reduced in the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion proportion which the area of the cost part of any Maintenance Repair the Premises so acquired or Requirement Alterations condemned bears to the extent required by Section 7.1 abovetotal area of the Premises immediately prior to such acquisition or condemnation.

Appears in 1 contract

Sources: Lease Agreement (Barnesandnoble Com Inc)

Eminent Domain. SECTION 12.1. 17.1 If thirty-three percent (33%) or less of the whole usable area of the Premises is acquired taken by exercise of the power of eminent domain before the Commencement Date or condemned for any public or quasi-public use or purposeduring the term of this Lease, this Lease and shall terminate as to the Term shall end portion of the Premises so taken as of the date of the vesting of title with the same such taking and shall remain in full force and effect as if said to the portion of the Premises not so taken, and the Base Rent shall be reduced as of the date were of such taking in the Fixed Expiration Dateproportion that the usable area of the Premises so taken bears to the total usable area of the Premises. If only a part more than thirty-three percent (33%), but less than all, of the usable area of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part taken by exercise of the Premises is so acquired power of eminent domain before the Commencement Date or condemnedduring the term of this Lease, from Landlord and after Tenant each shall have the date of the vesting of titleright, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears by giving written notice to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent other within thirty (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (12030) days after the date upon which of such taking, to terminate this Lease. If either Landlord or Tenant receives Notice of vesting of title. In the event that exercises such Notice of termination shall be given, then right to terminate this Lease and the Term and estate hereby granted in accordance with this Section 17.1, this Lease shall expire terminate as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Datesuch taking. In the event of any termination of If neither Landlord or Tenant exercises such right to terminate this Lease and the Term pursuant in accordance with this Section 17.1, this Lease shall terminate as to the provisions portion of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned Premises so taken as of the date of sooner termination such taking and any prepaid shall remain in full force and effect as to the portion of the Fixed Premises not so taken, and the Base Rent for any period after such date shall be refunded reduced as of the date of such taking in the proportion that the usable area of the Premises so taken bears to the total usable area of the Premises. If all of the Premises is taken by Landlord to Tenantexercise of the power of eminent domain before the Commencement Date or during the term of this Lease, this Lease shall terminate as of the date of such taking. SECTION 12.2. In the event of any such acquisition or condemnation of 17.2 If all or any part of the PremisesPremises is taken by exercise of the power of eminent domain, all awards, compensation, damages, income, rent, and interest payable in connection with such taking shall, except as expressly set forth in this Section 17.2, be paid to and become the property of Landlord, and Tenant hereby assigns to Landlord shall be entitled to receive all of the entire award for any such acquisition or condemnationforegoing. Without limiting the generality of the foregoing, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority entity exercising the power of eminent domain for the value of the leasehold estate created by this Lease or any unexpired term of this Lease. Tenant shall have the right to claim and receive directly from the entity exercising the power of eminent domain only the share of any award determined to be owing to Tenant for the taking of improvements installed in the portion of the Term Premises so taken by Tenant at Tenant's sole cost and expense based on the unamortized cost actually paid by Tenant hereby expressly assigns to Landlord all for such improvements, for the taking of its right in Tenant's movable furniture, equipment, trade fixtures, and to any such award. Nothing contained personal property, for loss of goodwill, for interference with or interruption of Tenant's business, or for removal and relocation expenses. 17.3 As used in this Section 12.2 shall be deemed to prevent Tenant from making Article 17, a separate claim in any condemnation proceedings for "taking" means the value acquisition of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction all or restoration part of the Premises within sixty (60) days after the physical taking of for a portion public use by exercise of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration power of eminent domain and the taking shall be considered to occur as of the earlier of the date on which possession of the Premises within one hundred twenty (120or part so taken) days after by the entity exercising the power of eminent domain is authorized as stated in an order for possession or the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations on which title to the extent required by Section 7.1 abovePremises (or part so taken) vests in the entity exercising the power of eminent domain.

Appears in 1 contract

Sources: Office Lease (Impac Mortgage Holdings Inc)

Eminent Domain. SECTION 12.1. a. If the whole of the Building or Premises is acquired lawfully taken by condemnation or condemned in any other manner for any public or quasi-quasi public use or purpose, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything Rent shall be prorated to such date. If less than the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration whole of the Building or Premises is so taken, this Lease shall be unaffected by such taking, provided that (i) Tenant shall have the right to terminate this Lease by notice to Landlord given within sixty ninety (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (12090) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs taking if twenty percent (120%) or more of the Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (2ii) hereof, Landlord shall have the Tenant, at Tenant's option, may right to terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination notice to Tenant given within thirty ninety (3090) days after the passage date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall terminate on the thirtieth (30th) day after either such notice. The Rent shall be prorated to the date of termination. If this Lease continues in force upon such partial taking, the Base Rent and Tenant's Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the times periods in subparagraphs (1) Premises and (2) above. Project. b. In the event that such a Notice of termination any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be giventhe exclusive property of Landlord, then this Lease and Tenant hereby assigns to Landlord all of its right. title and interest in any award, judgment or settlement from the term condemning authority. Tenant, however, shall have the right, to the extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and estate hereby granted shall expire as damage to Tenant's personal property. c. In the event of a partial taking of the date of termination stated Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the cost of any Maintenance Repair Premises as nearly as practicable to its condition prior to the condemnation or Requirement Alterations taking, but only to the extent required by Section 7.1 aboveof Building Standard Work. Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant's Property.

Appears in 1 contract

Sources: Office Building Lease (Augment Systems Inc)

Eminent Domain. SECTION 12.1. a. If the whole of the Building or Premises is acquired lawfully taken by condemnation or condemned in any other manner for any public or quasi-public use or purpose, purpose this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything Rent shall be prorated to such date. If less than the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration whole of the Building or Premises is so taken, this Lease shall be unaffected by such taking, provided that (i) Tenant shall have the right to terminate this Lease by notice to Landlord given within sixty ninety (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (12090) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs taking if twenty percent (120%) or more of the Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (2ii) hereof, Landlord shall have the Tenant, at Tenant's option, may right to terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination notice to Tenant given within thirty ninety (3090) days after the passage date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall terminate on the thirtieth (30th) day after either such notice. The Rent shall be prorated to the date of termination. If this Lease continues in force upon such partial taking, the Base Rent and Tena▇▇'▇ Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the times periods in subparagraphs (1) Premises and (2) above. Project. b. In the event that such a Notice of termination any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be giventhe exclusive property of Landlord, then this Lease and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the term condemning authority. Tenant, however, shall have the right, to the extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) which compensation as may be recoverable by Tenant in its own right for relocation expenses and estate hereby granted shall expire as damage to Tena▇▇'▇ ▇ersonal property. Landlord /s/ JF Tenant /s/ PF ----------- ---------- c. In the event of a partial taking of the date of termination stated Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the cost of any Maintenance Repair Premises as nearly as practicable to its condition prior to the condemnation or Requirement Alterations taking, but only to the extent required by Section 7.1 aboveof building standard work. Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant's Property.

Appears in 1 contract

Sources: Lease Agreement (Tcsi Corp)

Eminent Domain. SECTION 12.1. a. If the whole of the Building or Premises is acquired lawfully taken by condemnation or condemned in any other manner for any public or quasi-quasi - public use or purpose, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything Rent shall be prorated to such date. If less than the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration whole of the Building or Premises is so taken, this Lease shall be unaffected by such taking, provided that (i) Tenant shall have the right to terminate this Lease by notice to Landlord given within sixty ninety (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (12090) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs taking if twenty percent (120%) or more of the Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (2ii) hereof, Landlord shall have the Tenant, at Tenant's option, may right to terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination notice to Tenant given within thirty ninety (3090) days after the passage date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall terminate on the thirtieth (30th) day after either such notice. The Rent shall be prorated to the date of termination. If this Lease continues in force upon such partial taking, the Base Rent and Tenant’s Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the times periods in subparagraphs (1) Premises and (2) above. Project. b. In the event that such a Notice of termination any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be giventhe exclusive property of Landlord, then this Lease and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the term condemning authority. Tenant, however, shall have the right, to the extent that Landlord’s award is not reduced or prejudiced, to claim from the condemning authority (but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and estate hereby granted shall expire as damage to Tenant's personal property. c. In the event of a partial taking of the date of termination stated Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the cost of any Maintenance Repair Premises as nearly as practicable to its condition prior to the condemnation or Requirement Alterations taking, but only to the extent required by Section 7.1 aboveof Building Standard Work. Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant’s Property.

Appears in 1 contract

Sources: Lease Agreement (Summit Healthcare REIT, Inc)

Eminent Domain. SECTION 12.1. 13.1 If the whole all or any part of the Premises is acquired condemned or condemned taken in any manner for any public or quasi-public use use, including, but not limited to, a conveyance or purposeassignment in lieu of a condemnation or taking, this Lease and shall terminate as to the Term shall end as part so taken on the earlier to occur of the date of the vesting of title with or the same effect date of dispossession of Tenant as a result of such condemnation or taking, and either Landlord or Tenant shall have the right to terminate this Lease as to the balance of the Premises by written notice to the other party within thirty (30) days if said date were the Fixed Expiration Date. If only a portion of the Premises taken shall be of such extent and nature as to render the balance of the Premises untenantable and unusable by Tenant if any part of the Building other than the Premises is condemned or otherwise taken so acquired as to require in the opinion of Landlord, a substantial alteration or condemned then, except as hereinafter provided in this Section 12.1reconstruction of the remaining portions thereof, this Lease and the Term shall continue in effect butmay be terminated by Landlord, if a part as of the Premises is so acquired or condemned, from and after earlier of the date of the vesting of title, or the Fixed date of dispossession as a result of such condemnation or taking, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting or dispossession will occur. If the Lease is not so terminated, Landlord shall proceed to repair and reconstruct the remaining portion of the Building to the extent insurance and condemnation proceeds are available to do so. 13.2 Landlord shall be entitled to the entire award in any condemnation proceeding or other proceeding, including, without limitation, any award made for the value of the leasehold estate created by this Lease. No award for any partial or entire taking shall be apportioned, and Tenant hereby assigns to Landlord any award that may be made in such condemnation or other taking, together with any and all rights of Tenant now or hereafter arising in or to 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 specifically for its relocation expenses or the taking of personal property and fixtures belonging to Tenant. 13.3 In the event of a partial condemnation or other taking that does not result in a termination of this Lease as to the entire Premises, the Rent and Additional Rent, if any, Charges shall be reduced ▇▇▇▇▇ in the proportion which that the rentable area of the part of the Premises so acquired taken by such condemnation or condemned other taking bears to the total rentable area of the Premises. 13.4 If all or any portion of the Premises is condemned or otherwise taken for public or quasi-public use for a limited period of time not to exceed 180 days, this Lease shall remain in full force and effect and Tenant shall continue to perform all of the terms, conditions and covenants of this Lease; provided, however, that the Rent and Additional Charges shall ▇▇▇▇▇ during such limited period in the proportion that the rentable area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason rendered untenantable and unusable as a result of such acquisition condemnation or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant taking bears to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part total rentable area of the Premises, . Landlord shall be entitled to receive the entire award for made in connection with any such acquisition temporary condemnation or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and other taking. 13.5 Tenant hereby expressly assigns waives and releases any right to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease under Sections 1265.120 and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage 1265,130 of the times periods California Code of Civil Procedure, or under any similar law, statute or ordinance now or hereafter in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 aboveeffect.

Appears in 1 contract

Sources: Office Lease (Andromedia Inc)

Eminent Domain. SECTION 12.1. If In the event that the whole of the Demised Premises or access thereto or a material part of the parking area is acquired taken without substitution of comparable parking space located within a three (3) block radius of the Building, shall be lawfully condemned or condemned taken in any manner for any public or quasi-public use or purposeuse, this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire forthwith cease and terminate as of the date of termination stated in said Notice with vesting of title. In the same effect event that a material part of the Demised Premises shall be so condemned or taken, then effective as if that of the date were the Fixed Expiration Dateof vesting of title, rent and the Fixed Rent and Additional Rent additional rent hereunder shall be abated in an amount thereof apportioned according to the area of the Demised Premises so condemned or taken. In the event that a material part of the Building (in excess of 40%) shall be so condemned or taken, then (a) Landlord (whether or not the Demised Premises be affected) may, at its option terminate this Lease and the term and estate hereby granted as of the date of such date. Notwithstanding vesting of title by notifying Tenant in writing of such termination within forty-five (45) days following date on which Landlord shall have received notice of vesting of title, and (b) if such condemnation or taking shall be of a substantial part of the termination Demised Premises (in excess of 25% of the Demised Premises) or a substantial part (25% or more) of the means of access thereto or of the parking, Tenant shall have the right, by delivery of notice in writing to Landlord within sixty (60) days following the date on which Tenant shall have received notice of vesting of title, to terminate this Lease and the term and estate hereby granted as of the date of vesting of title or, (c) if neither Landlord nor Tenant elects to terminate this Lease, as aforesaid, this Lease shall be and remain unaffected by such condemnation or taking, except that the rent and additional rent shall be abated to the extent, if any, herein above provided in this Subsection 12.3(A) Landlord Article 36. In the event that only a part of the Demised Premises shall be obligated to reimburse to Tenant a so condemned or taken and this Lease and the term and estate hereby granted are not terminated as hereinbefore provided, Landlord will, at its expense, promptly (but lii all events in less than 120 days) restore the remaining portion of the cost of any Maintenance Repair or Requirement Alterations Demised Premises as nearly as practicable to the extent required by Section 7.1 abovesame condition as it was in prior to such condemnation or taking. In the event Landlord fails to restore the Demised Premises, Tenant shall have the right, upon ten (10) days' notice to Landlord, to terminate this Lease.

Appears in 1 contract

Sources: Lease Agreement (Star Telecommunications Inc)

Eminent Domain. SECTION 12.1. Section 11.1 If the whole of the Real Property, the Building or the Premises is shall be acquired or condemned for any public or quasi-public use or purpose, this Lease and the Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Real Property and not the entire Premises is shall be so acquired or condemned then, (1) except as hereinafter provided in this Section 12.111.1, this Lease and the Term shall continue in effect force and effect, but, if a part of the Premises is included in the part of the Real Property so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in to the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation and Tenant’s Share and Tenant’s Tax Share shall each be redetermined based upon the proportion in which the ratio between the rentable area of the Premises remaining after such acquisition or condemnation bears to the rentable area of the Building remaining after such acquisition or condemnation. If , (2) if the part of the Premises Real Property acquired or condemned contains more than fifty shall be a material part and Landlord is not able to operate the remainder of the Building in an economic manner, then whether or not the Premises shall be affected thereby, Landlord, at Landlord’s option, may give to Tenant, within sixty (60) days next following the date upon which Landlord shall have received notice of vesting of title, a thirty (30) days’ notice of termination of this Lease if Landlord shall elect to terminate leases (including this Lease), affecting at least seventy-five percent (5075%) of the rentable square feet area of the Building (excluding any rentable area leased by Landlord or its Affiliates); and (3) if the part of the Real Property so acquired or condemned shall contain more than twenty-five percent (25%) of the total area of the Premises immediately prior to such acquisition or condemnation of the Real Property, or if, by reason of such acquisition or condemnation, Tenant no longer has reasonable means of access to the Premises Premises, Tenant, at Tenant’s option, may give to Landlord, within sixty (60) days next following the date upon which Tenant shall be rendered wholly or substantially unsuitable for the Permitted Usehave received notice of vesting of title, then either a thirty (30) days’ notice of termination of this Lease. If any such thirty (30) days’ notice of termination is given by Landlord or Tenant may terminate Tenant, this Lease and the Term shall come to an end and estate hereby granted, by notifying expire upon the other party in writing expiration of such termination within one hundred twenty said thirty (12030) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that the date of expiration of said thirty (30) days were the Fixed Expiration Date. In If a part of the event Premises shall be so acquired or condemned and this Lease and the Term shall not be terminated pursuant to the foregoing provisions of any this Section 11.1, Landlord, at Landlord’s expense, shall restore that part of the Premises not so acquired or condemned to a self-contained rental unit inclusive of Tenant’s Alterations. Upon the termination of this Lease and the Term pursuant to the provisions of this Section 12.111.1, the Fixed Rent or Additional and Escalation Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent and Escalation Rent for any period after such date shall be promptly refunded by Landlord to Tenant. SECTION 12.2. Section 11.2 In the event of any such acquisition or condemnation of all or any part of the PremisesReal Property, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 11.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the then value of any Tenant's ’s Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. Section 11.3 If the whole or any part of the Premises shall be acquired or condemned for a temporary period of twelve (A12) Notwithstanding anything months or less during the Term for any public or quasi-public use or purpose, Tenant shall give prompt notice thereof to Landlord and the contrary contained Term shall not be reduced or affected in Sections 12.1 any way and 12.2 aboveTenant shall continue to pay in full all items of Rental payable by Tenant hereunder without reduction or abatement, in and Tenant shall be entitled to receive for itself any award or payments for such use, provided, however, that if the event that: (1) acquisition or condemnation is for a period extending beyond the Term, any lump sum award or payment shall be apportioned between Landlord fails to commence and Tenant as of the Expiration Date, and provided further that the amount of any repairs, reconstruction award or payment allowed by the condemning authority for restoration of the Premises within sixty (60) days after shall remain the physical taking property of a portion Landlord if this Lease shall expire prior to the restoration of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 above.

Appears in 1 contract

Sources: Lease Agreement (Coty Inc /)

Eminent Domain. SECTION 12.1. If the whole of the Premises or the Project or so much thereof as to render the balance unusable by Tenant shall be taken under power of eminent domain, or is acquired sold, transferred or condemned for any public or quasi-public use or purposeconveyed in lieu thereof, this Lease and the Term shall end automatically terminate as of the date of such condemnation, or as of the vesting date possession is taken by the condemning authority, at Landlord's option. No award for any partial or entire taking shall be apportioned, and Tenant hereby assigns to Landlord any award which may be made in such taking or condemnation, together with any and all rights of title with Tenant now or hereafter arising in or to the same effect as if said date were 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 Fixed Expiration Date. If only a part taking of personal property and trade mixtures belonging to Tenant and removable by Tenant at the expiration of the Premises is so acquired Term hereof as provided hereunder or condemned thenfor the interruption of, except as hereinafter provided or damage to, Tenant's business or the cost incurred or estimated to be incurred by Tenant for the relocation of its business to new facilities. In the event of a partial taking described in this Section 12.1Article 18, or a sale, transfer or conveyance in lieu thereof, which does not result in a termination of this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of titleLease, the Fixed Rent and Additional Rent, if any, rent shall be reduced in apportioned according to the proportion which the area of ratio that the part of the Premises so acquired or condemned remaining useable by Tenant bears to the total area of the Premises immediately prior to such acquisition Premises. Notwithstanding anything in this Article 18, if the Premises. or condemnation. If the part any material portion thereof, or any portion of the Premises acquired Project necessary for Tenant's access to, or condemned contains more than fifty percent (50%) use and occupancy of, the Premises, are taken within the last year of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted UseTerm, then either Landlord or Tenant may will have the right to terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns notice to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage effective date of the times periods taking, in subparagraphs (1) which case such termination will be effective on the date specified in Tenant's notice to Landlord. Tenant hereby waives any and (2) above. In the event that such a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as all rights it might otherwise have pursuant to Section 1265.130 of the date California Code of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 aboveCivil Procedure.

Appears in 1 contract

Sources: Standard Office Lease (Trinagy Inc)

Eminent Domain. SECTION 12.1Section 10.01. If the whole of the Demised Premises is shall be acquired or condemned for any public or quasi-public quasipublic use or purpose, this Lease and the Demised Term shall end as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Demised Premises is shall be so acquired or condemned then, except as hereinafter otherwise provided in this Section 12.1Section, this Lease and the Demised Term shall continue in force and effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Demised Premises so acquired or condemned bears to the total area of the Demised Premises immediately prior to such acquisition or condemnation. If only a part of the Real Property shall be so acquired or condemned, then (i) whether or not the Demised Premises shall be affected thereby, Owner, at Owner's option, may give to Tenant, within sixty (60) days next following the date upon which Owner shall have received notice of vesting of title, a five (5) days' notice of termination of this Lease, provided that Owner shall similarly terminate substantially all of the other tenants in the Building and (ii) if the part of the Premises Real Property so acquired or condemned contains shall contain more than fifty percent ten (5010%) per cent of the rentable square feet total area of the Demised Premises immediately prior to such acquisition or condemnation, or if, by reason of such acquisition or condemnation, Tenant no longer has reasonable means of access to the Premises shall be rendered wholly or substantially unsuitable for the Permitted UseDemised Premises, then either Landlord or Tenant Tenant, at Tenant's option, may terminate this Lease and the Term and estate hereby grantedgive to Owner, by notifying the other party in writing of such termination within one hundred twenty sixty (12060) days after next following the date upon which Tenant receives Notice shall have received notice of vesting of title, a five (5) days' notice of termination of this Lease. In the event that any such Notice five (5) days' notice of termination shall be is given, then by Owner or Tenant, this Lease and the Demised Term shall come to an end and estate hereby granted shall expire as upon the expiration of the date of termination stated in said Notice, five (5) days with the same effect as if that the date of expiration of said five (5) days were the Fixed Expiration Date. If a part of the Demised Premises shall be so acquired or condemned and this Lease and the Demised Term shall not be terminated pursuant to the foregoing provisions of this Section. Owner, at Owner's expense, shall restore that part of the Demised Premises not so acquired or condemned to a self-contained rental unit. In the event of any termination of this Lease and the Demised Term pursuant to the provisions of this Section 12.1Section, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord Owner to Tenant. SECTION 12.2Section 10.02. In the event of any such acquisition or condemnation of all or any part of the PremisesReal Property, Landlord Owner shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord Owner or the condemning authority for the value of any unexpired portion of the Demised Term and Tenant hereby expressly assigns to Landlord Owner all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any items of Tenant's Personal Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 abovewhich are compensable, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, thenlaw, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at trade fixtures and Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) above. In the event moving expenses provided that such a Notice of termination shall claim for moving expenses is authorized by law and will not in any way diminish the award 10 for the Real Property to which Owner would be given, then this Lease and the term and estate hereby granted shall expire as of the date of termination stated in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the termination of this Lease as provided in this Subsection 12.3(A) Landlord shall be obligated to reimburse to Tenant a portion of the cost of any Maintenance Repair or Requirement Alterations to the extent required by Section 7.1 aboveentitled.

Appears in 1 contract

Sources: Lease Agreement (Nelson Communications Inc)

Eminent Domain. SECTION 12.1. 13.1 If fifty (50%) percent or more of the whole leasable floor area of the Building or any material portion of the Premises is acquired condemned or condemned taken in any manner, including without limitation any conveyance in lieu of condemnation, for any public or quasi-public use or purpose(“Taken”), the Term of this Lease shall cease and the Term shall end terminate as of the date title is vested in the condemning authority. 13.2 If less than fifty (50%) percent of the vesting leasable floor area of title with the same effect as Building or if said date were the Fixed Expiration Date. If only a part any material portion of the Premises is so acquired or condemned thenTaken, except as hereinafter provided in this Section 12.1Landlord shall have the right, but not the obligation, to terminate this Lease by giving written notice within thirty (30) days after being notified of such taking, and in such event, termination shall be effective upon the Term shall continue date designated by Landlord in effect butthe notice of termination. In addition, if a part less than fifty (50%) percent of the leasable floor area of the Building or if any material portion of the Premises is so acquired Taken, and Tenant determines, in its reasonable business opinion, that operating its business is no longer tenable, then Tenant shall also have the right to terminate the Lease by giving written notice to Landlord within thirty (30) days after being notified of such Taking. 13.3 The whole of any award or condemned, from and after the date compensation for any portion of the vesting Premises Taken, including the value of title, Tenant’s leasehold interest under the Fixed Rent and Additional Rent, if anyLease, shall be reduced solely the Premises of Landlord. Tenant is not precluded from seeking, at its own expense, an award from the condemning authority for loss of the value of any trade fixtures or other personal Premises in the proportion which Premises, or moving expenses, provided that the area award for such claim or claims shall not diminish the award made to Landlord. If the unexpired Term of the part Lease is not terminated, then Landlord shall, within 210 days after the taking by the governmental authority, complete restoration of the Premises so acquired or condemned bears in its condition as close thereto as is reasonably possible and if Landlord fails to the total area of completely restore the Premises immediately prior to such acquisition or condemnation. If within the part 210 day period other than as a result of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted UseTenant Delay, then either Landlord or Tenant may terminate this the Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (12020) days after the date upon which Tenant receives Notice of vesting of title210 day period. In such event all liability shall terminate. 13.4 In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all Premises or any part of the Premisesportion are Taken, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion Term of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything to the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration of the Premises within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs (1) or (2) hereof, the Tenant, at Tenant's option, may terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination within thirty (30) days after the passage of the times periods in subparagraphs (1) and (2) aboveor otherwise. In the event that such of a Notice of termination shall be given, then this Lease and the term and estate hereby granted shall expire as partial taking of the date of termination stated Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Landlord Lease, the Annual Base Rent thereafter shall be obligated to reimburse to Tenant a partially reduced. The reduction shall be computed on the basis of the ratio which the floor area of that portion of the cost of any Maintenance Repair or Requirement Alterations Premises Taken bears to the extent required by Section 7.1 aboverentable floor area of Premises.

Appears in 1 contract

Sources: Lease Agreement (Mercantile Bank Corp)

Eminent Domain. SECTION 12.1. a. If the whole of the Building or Premises is acquired lawfully taken by condemnation or condemned in any other manner for any public or quasi-public use or purpose, this Lease and the Term shall end terminate as of the date of the vesting of title with the same effect as if said date were the Fixed Expiration Date. If only a part of the Premises is so acquired or condemned then, except as hereinafter provided in this Section 12.1, this Lease and the Term shall continue in effect but, if a part of the Premises is so acquired or condemned, from and after the date of the vesting of title, the Fixed Rent and Additional Rent, if any, shall be reduced in the proportion which the area of the part of the Premises so acquired or condemned bears to the total area of the Premises immediately prior to such acquisition or condemnation. If the part of the Premises acquired or condemned contains more than fifty percent (50%) of the rentable square feet of the Premises or if, by reason of such acquisition or condemnation, the Premises shall be rendered wholly or substantially unsuitable for the Permitted Use, then either Landlord or Tenant may terminate this Lease and the Term and estate hereby granted, by notifying the other party in writing of such termination within one hundred twenty (120) days after the date upon which Tenant receives Notice of vesting of title. In the event that such Notice of termination shall be given, then this Lease and the Term and estate hereby granted shall expire as of the date of termination stated in said Notice, with the same effect as if that date were the Fixed Expiration Date. In the event of any termination of this Lease and the Term pursuant to the provisions of this Section 12.1, the Fixed Rent or Additional Rent shall be apportioned as of the date of sooner termination and any prepaid portion of the Fixed Rent for any period after such date shall be refunded by Landlord to Tenant. SECTION 12.2. In the event of any such acquisition or condemnation of all or any part of the Premises, Landlord shall be entitled to receive the entire award for any such acquisition or condemnation, but shall be obligated to proceed with reasonable diligence to repair and restore the Premises, at Landlord's expense, to a condition most suitable for the Permitted Use. Tenant shall have no claim against Landlord or the condemning authority for the value of any unexpired portion of the Term and Tenant hereby expressly assigns to Landlord all of its right in and to any such award. Nothing contained in this Section 12.2 shall be deemed to prevent Tenant from making a separate claim in any condemnation proceedings for the value of any Tenant's Property included in such taking, and for any moving expenses, so long as Landlord's award is not reduced thereby. (A) Notwithstanding anything Rent shall be prorated to such date. If less than the contrary contained in Sections 12.1 and 12.2 above, in the event that: (1) the Landlord fails to commence any repairs, reconstruction or restoration whole of the Building or Premises is so taken, this Lease shall be unaffected by such taking, provided that (i) Tenant shall have the right to terminate this Lease by notice to Landlord given within sixty (60) days after the physical taking of a portion of the Premises; or (2) Landlord fails complete all repairs, reconstruction or restoration of the Premises within one hundred twenty (120Ninety(90) days after the date of such physical taking, then, as a result of any circumstances described in subparagraphs taking if twenty percent (120%) or more of the Premises is taken and the remaining area of the Premises is not reasonably sufficient for Tenant to continue operation of its business, and (2ii) hereof, Landlord shall have the Tenant, at Tenant's option, may right to terminate this Lease and the term and estate hereby granted, by notifying the Landlord in writing of such termination notice to Tenant given within thirty ninety (3090) days after the passage date of such taking. If either Landlord or Tenant so elects to terminate this Lease, the Lease shall terminate on the thirtieth (30th) day after either such notice. The Rent shall be prorated to the date Tenant is required to surrender occupancy. If this Lease continues in force upon such partial taking, the Base Rent and Tenant's Proportionate Share shall be equitably adjusted retroactive to the date of the times periods in subparagraphs (1) taking according to the remaining Rentable Area of the Premises and (2) above. Project. b. In the event that such a Notice of termination any taking, partial or whole, all of the proceeds of any award, judgment or settlement payable by the condemning authority shall be giventhe exclusive property of Landlord, then this Lease and Tenant hereby assigns to Landlord all of its right, title and interest in any award, judgment or settlement from the term condemning authority. Tenant, however, shall have the right, to the extent that Landlord's award is not reduced or prejudiced, to claim from the condemning authority(but not from Landlord) such compensation as may be recoverable by Tenant in its own right for relocation expenses and estate hereby granted shall expire as damage to Tenant's personal property. c. In the event of a partial taking of the date of termination stated Premises which does not result in said Notice with the same effect as if that date were the Fixed Expiration Date, and the Fixed Rent and Additional Rent hereunder shall be apportioned as of such date. Notwithstanding the a termination of this Lease as provided in this Subsection 12.3(A) Lease, Landlord shall be obligated to reimburse to Tenant a restore the remaining portion of the cost of any Maintenance Repair Premises as nearly as practicable to its condition prior to the condemnation or Requirement Alterations taking, but only to the extent required by Section 7.1 aboveof the tenant improvements described in Exhibit "C". Tenant shall be responsible at its sole cost and expense for the repair, restoration and replacement of any other Leasehold Improvements and Tenant's Property.

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Sources: Lease Agreement (Satcon Technology Corp)