Eminent Domain. Either party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.
Appears in 9 contracts
Samples: Lease (MDxHealth SA), Lease (MDxHealth SA), Lease (Capitol Investment Corp. V)
Eminent Domain. Either party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The terminating party shall provide written notice of termination to the other party within 45 days after it first receives notice of the Taking. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.
Appears in 7 contracts
Samples: Lease Agreement, Lease (Lombard Medical, Inc.), Lease (Boot Barn Holdings, Inc.)
Eminent Domain. Either party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s 's personal property and Tenant’s 's reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.
Appears in 6 contracts
Samples: Lease (Alteryx, Inc.), Lease (Evolus, Inc.), Lease (BioPharmX Corp)
Eminent Domain. Either party If all or any substantial part of the Building or Common Areas shall be acquired by the exercise of eminent domain, Landlord or Tenant may terminate this Lease if by giving written notice to the other party within fifteen (15) days after possession thereof is so taken. If all or any material part of the Building, Leased Premises is taken or condemned for any public or quasi-public use under Law, Common Areas shall be acquired by the exercise of eminent domain or private purchase in lieu thereof (a “Taking”). Landlord so that the Leased Premises shall also have become untenantable by Tenant and inadequate for the right to Permitted Use, Tenant may terminate this Lease if there by giving written notice to Landlord within fifteen (15) days after possession thereof is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premisesso taken. All compensation damages awarded for a Taking shall be the property of Landlord and the right belong to receive compensation or proceeds in connection with a Taking are expressly waived by TenantLandlord; provided, however, that Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does dislocation damages if such amount is not diminish the amount of subtracted from Landlord’s 's award. If only a part of the Premises is subject to a Taking and this Lease is not terminatedLeased Premises, Landlord, with reasonable diligence, will restore Building or Common Areas shall be taken or conveyed but the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of part is tenantable and adequate for Tenant's use, then this Lease shall govern any Taking be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable to the extent the condemnation award proceeds received by Landlord are sufficient therefor; and the rent shall accordingly supersede any contrary statute be reduced in proportion to the part of the Leased Premises so taken or rule of lawconveyed.
Appears in 6 contracts
Samples: Office Lease (Interactive Intelligence Group, Inc.), Office Lease (Interactive Intelligence Group, Inc.), Office Lease (Interactive Intelligence Group, Inc.)
Eminent Domain. Either party may terminate If there shall be taken during the term of this Lease if any material part of the Premises is taken Leased Premises, parking facilities or condemned for any public Building, other than a part not interfering with maintenance, operation or quasi-public use under Lawof the Leased Premises, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right may elect to terminate this Lease if there is a Taking of any portion or to continue same in effect. If Landlord elects to continue the Lease, the rental shall be reduced in proportion to the area of the Leased Premises so taken and Landlord shall repair any damage to the Leased Premises, parking facilities, or Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder resulting from such taking. If any part of the Building. The termination Leased Premises is taken by condemnation or eminent domain and the Landlord elects to continue the Lease, the rental assessment shall be effective as reduced in proportion to the area of the effective date of Leased Premises so taken and Landlord shall repair any order granting possession to, damage to the Leased Premises resulting from such taking. All sums awarded or vesting legal title in, agreed upon between Landlord and the condemning authorityauthority for the taking of the interest of Landlord and/or Tenant, whether as damages or as compensation, and whether for partial or total condemnation, will be the property of the Landlord, except that Tenant shall be entitled to any award for Tenant's moving expenses or personal property (but in no event shall Tenant be entitled to any award for the loss of the leasehold estate). If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall should be appropriately adjusted to account for terminated under any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease Section, rental shall govern be payable up to the date that possession is taken by the taking authority, and Landlord will refund to Tenant any Taking and shall accordingly supersede prepaid unaccrued rent less any contrary statute sum or rule of lawamount then owing by Tenant to Landlord.
Appears in 3 contracts
Samples: Lease Agreement (Dyadic International Inc), Lease Agreement (Dyadic International Inc), Lease Agreement (Dyadic International Inc)
Eminent Domain. Either party may terminate this Lease if any material part In the case the whole of the Premises is Premises, or such part thereof as shall substantially interfere with Tenant's use and occupancy thereof, shall be taken or condemned for any public or quasi-public use under Lawpurpose by any lawful power or authority by exercise of the right of appropriation, by condemnation or eminent domain domain, or private purchase in lieu thereof (a “Taking”). Landlord sold to prevent such taking, either party shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date possession is required to be surrendered to said authority. Tenant shall not assert any claim against Landlord for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account award without deduction for any reduction in estate or interest of Tenant. In the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish event the amount of Landlord’s awardproperty or the type of estate taken shall not substantially interfere with the conduct of Tenant's business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, and Landlord at its option may terminate this Lease. If only Landlord does not so elect, Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking, and a proportionate allowance shall be made to Tenant for the rent corresponding to the time during which, and to the part of the Premises is subject of which, Tenant shall be so deprived on account of such taking and restoration. Nothing contained in this paragraph shall be deemed to a Taking give Landlord any interest in any award made to Tenant for the taking of personal property and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable fixtures belonging to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawTenant.
Appears in 2 contracts
Samples: Centre Office Lease Agreement (RVision, Inc.), Laurel Corporate Centre Office Lease Agreement (RVision, Inc.)
Eminent Domain. Either party may terminate If at any time during the term of this Lease if the entire premises or any material part thereof shall be taken as a result of the Premises is taken or condemned for any public or quasi-public use under Law, by exercise of the power of eminent domain or private purchase by an agreement in lieu thereof (a “Taking”). Landlord shall also have the right to terminate thereof, this Lease if there is a Taking of any portion of shall terminate as to the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective part so taken as of the effective date of any order granting possession to, or vesting legal title in, is taken by the condemning authority. If all or any substantial portion of the premises shall be taken, Landlord may terminate this Lease at its option, by giving Tenant written notice of such termination within thirty (30) days of such taking. If all or a portion of the premises taken are so substantial that Tenant's use of the premises is not terminatedsubstantially impaired, Basic Rent Tenant may terminate this Lease pursuant to this Article. Otherwise, this Lease shall remain in full force and Tenant’s Share of Operating Expenses effect, except that the rent payable by Tenant hereunder shall be appropriately adjusted to account for any reduction reduced in the square footage proportion that the area of the Building or Premisespremises so taken bears to the total premises. All compensation awarded for a Taking Landlord shall be entitled to and Tenant hereby assigns to Landlord the property entire amount of Landlord and the right to receive compensation or proceeds any award in connection with a Taking are expressly waived by Tenant; providedsuch taking. Nothing in this Article shall give Landlord any interest in or preclude Tenant from seeking, howeveron its own account, Tenant may file a separate claim for Tenant’s any award attributable to the taking of personal property and or trade fixtures belonging to Tenant’s reasonable relocation expenses, provided or for the filing interruption of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawTenant's business.
Appears in 2 contracts
Samples: Biomune Systems Inc, Biomune Systems Inc
Eminent Domain. Either party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase conveyance in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which Property that would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The terminating party shall provide written notice of termination to the other party within forty-five (45) days after it first receives notice of the Taking. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Base Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the Landlord. The right to receive compensation or proceeds in connection with a Taking are is expressly waived by Tenant; , provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the such claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that hereby waives any and all rights it might otherwise have pursuant to Section 1265.130 of the provisions California Code of this Lease shall govern Civil Procedure, and any Taking and shall accordingly supersede any contrary statute similar or rule of lawsuccessor Laws.
Appears in 2 contracts
Samples: Office Lease Agreement (On24 Inc), Office Lease Agreement (Velti PLC)
Eminent Domain. Either party If the Building, the Premises and Common Area or a material part thereof be taken by any authorized entity by eminent domain or by negotiated purchase under threat thereof, so that the Premises shall become totally untenantable, this Lease shall terminate as of the earlier of the date when title or possession thereof is acquired or taken by the condemning authority, Landlord shall retain any award by the condemning authority for such taking (excluding, however, any separate award made to Tenant for loss of or damage to Tenant’s Property, loss of business, and moving expenses) and all rights of Tenant in this Lease shall immediately cease and terminate. If a part of the Building or a portion of the Premises shall be taken such that the Premises becomes only partially untenantable, this Lease shall continue in full force and effect as to the portion of the Premises which is not taken and Base Rent shall be proportionately abated so long as Tenant’s business operations within the Premises are not materially and adversely affected by such partial taking. If, however, such partial taking materially and adversely interferes with Tenant’s business operations, Tenant may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”)upon written notice to Landlord. Landlord shall also have may without any obligation or liability to Tenant stipulate with any condemning authority for a judgment of condemnation without the right to terminate this Lease if there is necessity of a Taking formal suit or judgment of any portion of condemnation, and the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date of any order granting possession to, taking under this clause shall then be deemed the date agreed to under the terms of such agreement or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawstipulation.
Appears in 2 contracts
Samples: Office Lease (Recursion Pharmaceuticals, Inc.), Office Lease (Recursion Pharmaceuticals, Inc.)
Eminent Domain. Either party may terminate this Lease if any material part If all of the Premises or the Building is taken, or if such a part of either is taken so as to render the remainder thereof unsuitable for Landlord's or condemned Tenant's purposes, for any public or quasi-public use under Law, by eminent domain or by private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate thereof, this Lease if there is a Taking shall terminate at the option of any portion either Landlord or Tenant on the date that the condemning authority actually takes possession of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authoritypart condemned. If this Lease is not so terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in or upon a taking not within the square footage scope of the Building foregoing, Total Rent shall xxxxx for the period of such taking in proportion to the area of the Premises taken. In no event shall Tenant have any right or Premisesclaim to any part of any award made to or received by Landlord for such taking, or against Landlord or the condemning authority for the value of any unexpired term of this Lease, and Tenant hereby assigns any such claim to Landlord. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; providedNothing herein contained, however, shall preclude Tenant may file from claiming, proving and receiving from the condemning authority a separate claim award for the value of any of Tenant’s 's personal property taken which Tenant could have rightfully removed from the Premises hereunder and Tenant’s reasonable for relocation and moving expenses, provided so long as the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease 's award is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawthereby reduced.
Appears in 2 contracts
Samples: Place Office Lease (RMS Titanic Inc), Place Office Lease (Medialink Worldwide Inc)
Eminent Domain. Either party may terminate If at any time during the term of this Lease if the entire premises or any material part thereof shall be taken as a result of the Premises is taken or condemned for any public or quasi-public use under Law, by exercise of the power of eminent domain or private purchase by an agreement in lieu thereof (a “Taking”). Landlord shall also have the right to terminate thereof, this Lease if there is a Taking of any portion of shall terminate as to the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective part so taken as of the effective date of any order granting possession to, or vesting legal title in, is taken by the condemning authority. If all or any substantial portion of the premises shall be taken, Landlord may terminate this Lease at its option, by giving Tenant written notice of such termination within thirty (30) days of such taking. If all or a portion of the premises taken are so substantial that Tenant's use of the premises is not terminatedsubstantially impaired, Basic Rent Tenant may terminate this Lease pursuant to this Article. Unless terminated as herein provided for, this Lease shall remain in full force and Tenant’s Share of Operating Expenses effect, except that the rent payable by Tenant hereunder shall be appropriately adjusted to account for any reduction reduced in the square footage proportion that the area of the Building or Premisespremises so taken bears to the total premises. All compensation awarded for a Taking Landlord shall be entitled to and Tenant hereby assigns to Landlord the property entire amount of Landlord and the right to receive compensation or proceeds any award in connection with a Taking are expressly waived by Tenant; providedsuch taking. Nothing in this Article shall give Landlord any interest in or preclude Tenant from seeking, howeveron its own account, Tenant may file a separate claim for Tenant’s any award attributable to the taking of personal property and or trade fixtures belonging to Tenant’s reasonable relocation expenses, provided or for the filing interruption of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawTenant's business.
Appears in 2 contracts
Samples: Commercial and Industrial Lease (1 800 Contacts Inc), Computerized Thermal Imaging Inc
Eminent Domain. Either party may terminate this Lease if any material part of If the Premises is or any portion thereof shall be taken or condemned for any public or quasi-public use under Law, by the power of eminent domain or private purchase conveyed in lieu thereof (a “Taking”). Landlord thereof, the taking of which materially and adversely interferes with the conduct of Tenant’s business, then Tenant shall also have the right to terminate this Lease if there is a Taking by furnishing written notice to Landlord. If Tenant does not terminate this Lease, Landlord shall proceed with due diligence to make all repairs necessary to restore the Premises to as near its former condition as circumstances will permit and the Lease shall remain in full force and effect, except that, effective on the date of any portion of taking or conveyance, the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination Premises shall be effective as of reduced by the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable so taken or conveyed, and the Annual Base Rent shall be (a) proportionately reduced by the portion of the Premises taken or conveyed, and (b) equitably reduced to the condition immediately prior extent that such taking or conveyance of other portions of the Premises materially and adversely interferes with the conduct of Xxxxxx’s business. Damages awarded Landlord for such taking or conveyance shall belong to Landlord, provided that Tenant may assert a claim for the Taking. Tenant agrees that unamortized cost of any leasehold improvements paid for by Tenant, Xxxxxx’s personal property, fixtures and moving expenses, the provisions value of this Lease shall govern any Taking Tenant’s leasehold estate and shall accordingly supersede any contrary statute or rule the loss of lawTenant’s business.
Appears in 2 contracts
Samples: Security Agreement (MINDBODY, Inc.), Security Agreement (MINDBODY, Inc.)
Eminent Domain. Either party If all or any substantial part of the Building or common Areas shall be acquired by the exercise of eminent domain, Landlord may terminate this Lease if by giving written notice to Tenant on or before the date possession thereof is so taken. If all or any material part of the Leased Premises is taken or condemned for any public or quasi-public use under Law, Common Areas shall be acquired by the exercise of eminent domain or private purchase in lieu thereof (a “Taking”). Landlord so that the Leased Premises shall also have become impractical for Tenant to use for the right to Permitted Use, Tenant may terminate this Lease if there by giving written notice to Landlord as of the date possession thereof is a Taking so taken. In the event of any such termination, any prepaid rent will be appropriately prorated to the date of termination. Notwithstanding the foregoing, if a partial taking directly affecting a portion of the Building Leased Premises or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If Common Areas occurs and this Lease is not terminatedterminated by Landlord or Tenant pursuant to this Section 10, Basic Landlord shall equitably reduce the Minimum Annual Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account Additional Rent for any reduction in the square footage of the Building or Leased Premises. All compensation damages awarded for a Taking shall be the property of Landlord and the right belong to receive compensation or proceeds in connection with a Taking are expressly waived by TenantLandlord; provided, however, that Tenant may file a prosecute its own claim by separate claim proceeding against the condemning authority for damages legally due to it (such as loss of fixtures that Tenant was entitled to remove and moving expenses) so long as Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of or adversely affect Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.
Appears in 1 contract
Samples: Lease (Phoenix Container, Inc.)
Eminent Domain. Either party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase conveyance in lieu thereof (a “Taking”), it being agreed that a “material part” shall be any part which materially impairs Tenant’s ability to conduct its business in the Premises, or materially increases its cost of doing so. Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which Property that would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The terminating party shall provide written notice of termination to the other party within forty-five (45) days after it first receives notice of the Taking. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Base Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the Landlord. The right to receive compensation or proceeds in connection with a Taking are is expressly waived by Tenant; , provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the such claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that hereby waives any and all rights it might otherwise have pursuant to Section 1265.130 of the provisions California Code of this Lease shall govern Civil Procedure, or any Taking and shall accordingly supersede any contrary statute similar or rule of lawsuccessor Laws.
Appears in 1 contract
Eminent Domain. Either party may terminate this Lease if any material part If all of the Premises or the Building is taken, or if such a part of either is taken so as to render the remainder thereof unsuitable for Landlord's or condemned Tenant's purposes, for any public or quasi-public use under Law, by eminent domain or by private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate thereof, this Lease if there is a Taking shall terminate at the option of any portion either Landlord or Tenant on the date that the condemning authority actually takes possession of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authoritypart condemned. If this Lease is not so terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in or upon a taking not within the square footage scope of the Building foregoing, Total Rent shall abate for the period of such taxxxx in proportion to the area of the Premises taken. In no event shall Tenant have any right or Premisesclaim to any part of any award made to or received by Landlord for such taking, or against Landlord or the condemning authority for the value of any unexpired term of this Lease, and Tenant hereby assigns any such claim to Landlord. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; providedNothing herein contained, however, shall preclude Tenant may file from claiming, proving and receiving from the condemning authority a separate claim award for the value of any of Tenant’s 's personal property taken which Tenant could have rightfully removed from the Premises hereunder and Tenant’s reasonable for relocation and moving expenses, provided so long as the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease 's award is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawthereby reduced.
Appears in 1 contract
Samples: Office Lease (Quality Systems Inc)
Eminent Domain. Either party may terminate this Lease if If the whole or any material substantial part of the Premises or if the Building or any portion thereof which would leave the remainder of the Building unsuitable for use comparable to its use on the Commencement Date, or if the land on which the Building is located or any material portion thereof, shall be taken or condemned for any public or quasi-quasi public use under Lawgovernmental law, ordinance or regulation, or by right of eminent domain domain, or by private purchase in lieu thereof (a “Taking”). thereof, then Landlord shall also have the right to may, at its option, terminate this Lease if there is a Taking and Rent shall be abated during the unexpired portion of any this Lease, effective when the physical taking of said Premises or said portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination Land shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authorityoccur. If this Lease is not terminated, Basic Rent and Tenant’s Share the rent for any portion of Operating Expenses the Premises so taken or condemned shall be appropriately adjusted to account for any reduction in abated during the square footage unexpired Lease Term effective when the physical taking of said portion of the Building or PremisesPremises shall occur. All compensation awarded for a Taking any taking or condemnation, or sale proceeds in lieu thereof, shall be the property of Landlord Landlord, and Tenant shall have no claim thereto, the right to receive compensation or proceeds in connection with a Taking are same being hereby expressly waived by Tenant; provided, howeverexcept for any portions of such award or proceeds which are specifically allocated by the condemning or purchasing party for the taking of or damage to trade fixtures of Tenant and moving costs, which Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject specifically reserves to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawitself.
Appears in 1 contract
Samples: Champions Biotechnology, Inc.
Eminent Domain. Either party may terminate this Lease if If all or any material part portion of the Premises is shall be taken (except temporarily) by any condemnation or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”)proceedings, at Landlord’s election this Lease shall terminate on the effective date of the taking. Landlord shall also be entitled to all awards for such taking, except that Tenant shall be entitled to make a separate claim against the condemning authority for moving expenses and for damage to fixtures installed in the premises by and at the expense of Tenant; provided that any award made to Tenant shall be in addition to, and shall not reduce, any award which Landlord may claim in connection with such taking, and further provided that in no event shall Tenant have any claim for the value of the unexpired Term. The same provisions apply if Landlord sells the Building to a public entity under threat of a taking. Notwithstanding the foregoing, even if the Premises are not affected in whole or in part by a taking, Landlord shall have the right to terminate this Lease upon 10 days’ prior written notice to Tenant if there is in Landlord’s judgment a Taking of any material portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination Property shall be effective as of taken by condemnation or eminent domain proceedings. Upon any such termination, Landlord and Tenant shall each be released from all further liability under this Lease accruing after the effective date of any order granting possession to, or vesting legal title in, the condemning authoritytermination date. If this Lease is not terminatedterminated in accordance with the foregoing provisions of this Paragraph, Basic the Base Rent shall be ratably reduced according to the area of the Premises which is taken and “Tenant’s Share of Operating Expenses Share” (as defined in Paragraph 5) shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawreduced.
Appears in 1 contract
Samples: Vapor Corp.
Eminent Domain. Either party may terminate If the Premises are totally taken by the exercise of the power of eminent domain (including any conveyance in lieu of such exercise), this Lease if any material part shall terminate on the date of taking. If only a portion of the Premises is taken or condemned for any public or quasi-public use under Lawtaken, by eminent domain or private purchase this Lease shall remain in lieu thereof (a “Taking”). Landlord shall also have the right effect, except that Tenant may elect to terminate this Lease if there is a Taking of any portion ten percent (10%) or more of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder total number of square feet of the BuildingWarehouse Space is taken. The termination shall be effective as If Tenant elects to terminate under the provisions of this Section, it must terminate by giving notice to Landlord within thirty (30) days after the nature and extent of the effective date of any order granting possession to, or vesting legal title in, the condemning authoritytaking have been finally determined. If this Lease is not terminatedterminated within the 30-day period, Basic it shall continue in full force and effect except that Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted reduced based on the extent to account for any reduction in which the square footage taking interferes with Tenant's use of the Building or Premises. All compensation awarded for If there is a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part partial taking of the Premises is subject to a Taking and this Lease is not terminatedremains in full force and effect pursuant to this Section, Landlord, with reasonable diligenceat its cost, will restore the remaining portion of shall accomplish all necessary restoration so that the Premises are returned as nearly near as practicable practical to the their condition immediately prior to the Takingdate of the taking, but in no event shall Landlord be obligated to expend more for such restoration than the extent of funds actually paid to Landlord by the condemning authority, less the reasonable costs incurred by Landlord in obtaining those funds. Any award arising from the condemnation or its settlement shall belong to and be paid to the Landlord. Tenant agrees that may seek an award from the provisions condemning authority for Tenant's trade fixtures, tangible personal property, goodwill, loss of this Lease business and relocation expenses. However, in all events, the Landlord shall govern any Taking and shall accordingly supersede any contrary statute or rule be solely entitled to all awards in respect of lawthe real property, including the bonus value of the leasehold.
Appears in 1 contract
Samples: Lease Agreement (Brass Eagle Inc)
Eminent Domain. Either party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.
Appears in 1 contract
Samples: Lease (eASIC Corp)
Eminent Domain. Either party may terminate If the whole of the Lease Premises shall be taken or condemned in any eminent domain, condemnation, compulsory acquisition or like proceeding by any competent authority, this Lease if Agreement shall terminate as of the date of such taking or condemnation. The LESSOR shall refund to the LESSEE the Security Deposit, less any material amount that may be properly deducted therefrom in accordance with the terms of this Lease Agreement. If only part of the Leased Premises is or the RCBC Plaza Tenancy Areas shall be taken or condemned in any eminent domain, condemnation, compulsory acquisition or like proceeding, by any competent authority for any public or quasi-public use under Lawor purpose, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate then this Lease if there is a Taking of any portion Agreement shall continue to be effective, subject to the proportionate reduction of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder Rent due. In either of the Building. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title inforegoing events, the condemning authority. If this Lease is LESSEE shall not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted have any right or claim to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject compensation or award granted or to be granted to the LESSOR as consideration for such taking. However, provided that the compensation to be received by the LESSOR shall not be reduced thereby, nothing contained herein shall preciude the LESSEE from claiming, proving and receiving from the condemning authority a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore separate award for the remaining portion value of any of the LESSEE's property taken by the condemning authority which the LESSEE could have rightfully removed from the Leased Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawhereunder.
Appears in 1 contract
Samples: Lease Agreement (Access Worldwide Communications Inc)
Eminent Domain. Either party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.
Appears in 1 contract
Samples: Lease (Cambium Networks Corp)
Eminent Domain. Either party may terminate this Lease if any material part of the Premises and parking facilities (but only if Landlord is unable to provide alternative parking to Tenant) is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.
Appears in 1 contract
Samples: Lease (Clean Energy Fuels Corp.)
Eminent Domain. Either party may terminate this Lease if If the whole or any material part substantial (as reasonably determined by Landlord) portion, of the Premises is taken or condemned for any public use or quasi-public use purpose under Lawany Law or by right of eminent domain, or by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have thereof, and such taking would prevent or materially interfere with Tenant’s then-current use of the right to terminate Premises, this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be terminate effective as of the effective date Tenant is required to relinquish Tenant’s right to occupy or to use all or any such substantial portion of any order granting possession to, or vesting legal title in, the condemning authorityPremises. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for less than a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part substantial portion of the Premises is subject to a Taking and this Lease so taken or condemned, or if the taking or condemnation is not terminated, Landlord, with reasonable diligence, will restore temporary (regardless of the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of affected), this Lease shall govern not terminate, but (a) Landlord, at Landlord’s sole cost and expense to the extent of any Taking award actually received by Landlord, shall restore the Building to an architecturally whole unit, and (b) the Rent payable hereunder shall accordingly supersede be proportionally abated to the extent of any contrary statute actual loss of use of the Premises by Tenant. Landlord shall be entitled to any and all payment, income, rent or rule award, or any interest therein whatsoever, which may be paid or made in connection with such a taking or conveyance, and Tenant shall have no claim against Landlord for the value of lawany unexpired portion of this Lease. Tenant shall be entitled to retain any compensation specifically and independently awarded to Tenant for loss of business or goodwill, moving expenses or for Tenant’s Property.
Appears in 1 contract
Eminent Domain. Either party may terminate this Lease if any material part (a) If the whole or substantially the whole of the Building or the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain domain, or private purchase should be sold in lieu thereof of such taking, then this Lease will terminate as of the date when physical possession of the Building or the Premises is taken by the condemning authority. If less than the whole or substantially the whole of the Building or the Premises is so taken or sold, Landlord (a “Taking”). Landlord shall also have whether or not the right to Premises are affected) may terminate this Lease if there is a Taking by giving notice to Tenant, in which event this Lease shall terminate as of any the date when the condemning authority takes physical possession of the portion of the Building or Project which would have Premises condemned or sold. If a material adverse effect on Landlord’s ability to profitably operate the remainder substantial portion of the Building. The termination Premises is so taken or sold, Tenant may terminate this Lease by giving notice to Landlord, in which event this Lease shall be effective terminate as of the effective date of any order granting possession to, or vesting legal title in, when the condemning authorityauthority takes physical possession of the portion of the Premises condemned or sold. If Following any such taking or sale, if this Lease is not terminated, Basic the Base Rent and Tenant’s Share of Operating Expenses shall payable by Tenant will be appropriately adjusted reduced in proportion to account for any reduction in the square footage of the Premises taken (if any) and Landlord will restore the Building or Premises. All compensation awarded for a Taking shall be to the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenantextent feasible; provided, however, Tenant may file a separate claim Landlord will not be required to spend more for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided such restoration than the filing net proceeds of the claim does not diminish the amount of taking or sale available to Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.
Appears in 1 contract
Samples: Office Building Lease (Mediware Information Systems Inc)
Eminent Domain. Either party may terminate this Lease if any material part (a) If the whole or substantially the whole of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain domain, or private purchase should be sold in lieu thereof (a “Taking”). Landlord shall also have the right to terminate of such taking, then this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective will terminate as of the effective date when physical possession of any order granting possession to, or vesting legal title in, the Premises is taken by the condemning authority. If less than the whole or substantially the whole of the Premises is so taken or sold, Landlord (whether or not the Building is affected) may terminate this Lease by giving notice to Tenant, in which event this Lease shall terminate as of the date when the condemning authority takes physical possession of the portion of the Premises condemned or sold. If a substantial portion of the Building is so taken or sold, Tenant may terminate this Lease by giving notice to Landlord, in which event this Lease shall terminate as of the date when the condemning authority takes physical possession of the portion of the Building condemned or sold. Following any such taking or sale, if this Lease is not terminated, Basic the Base Rent and Tenant’s Share of Operating Expenses shall payable by Tenant will be appropriately adjusted reduced in proportion to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be taken (if any) and Landlord will restore the property of Landlord and Building to the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenantextent feasible; provided, however, Tenant may file a separate claim Landlord will not be required to spend more for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided such restoration than the filing net proceeds of the claim does not diminish the amount of taking or sale available to Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.
Appears in 1 contract
Samples: Lease Agreement (Protective Products of America, Inc.)
Eminent Domain. Either party may A. If the Demised Premises or Building A or the Common Areas necessary for Subtenant to conduct its business in the Demised Premises in that manner then being conducted should be the subject of a Total Taking (as defined in the Parent Lease), then this Sublease shall terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date when physical possession of any order granting possession tothe Demised Premises, Building A, or vesting legal title in, such Common Areas are taken by the condemning authority. If there occurs a Partial Taking (as defined in the Parent Lease) which renders the Demised Premises or such Common Areas unsuitable for Tenant’s operation of its business in the Demised Premises in the manner then being conducted, Subtenant may terminate this Lease Sublease by giving written notice thereof to Sublessor within forty five (45) days the right of election accrues, in which event this Sublease shall terminate as of the date the affected portion of the Demised Premises or such Common Areas are taken by the condemning authority. If upon such Partial Taking this Sublease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in abated by an amount representing the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject Rent properly allocable to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Demised Premises as nearly as practicable to or such Common Areas so taken and Sublessor, at the condition immediately prior to request of Subtenant, shall enforce Sublessor’s rights set forth in Section 18 of the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawParent Lease.
Appears in 1 contract
Eminent Domain. Either party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s 's personal property and Tenant’s 's reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.
Appears in 1 contract
Samples: Lease (Aviat Networks, Inc.)
Eminent Domain. Either party may terminate this Lease if any material part (a) In case the whole of the Premises is Premises, or such part thereof as shall substantially interfere with Tenant's use and occupancy thereof, shall be taken or condemned for any public or quasi-public use under Lawpurpose by any lawful power or authority by exercise of the right of appropriation, by condemnation or eminent domain domain, or private purchase in lieu thereof (a “Taking”). Landlord sold to prevent such taking, either party shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date possession is required to be surrendered to said authority. Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account award without deduction for any reduction in estate or interest of Tenant. In the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish event the amount of Landlord’s awardproperty or the type of estate taken shall not substantially interfere with the conduct of Tenant's business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, and landlord at his option may terminate this Lease. If only Landlord does not so elect, Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking, and a proportionate allowance shall be made to Tenant for the rent corresponding to the time during which, and to the part of the Premises is subject of which, Tenant shall be so deprived on account of such taking and restoration. Nothing contained in this Paragraph shall be deemed to a Taking give Landlord any interest in any award separately made to Tenant for the taking of personal property and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable trade fixtures belonging to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawfor moving costs incurred by Tenant in relocating Tenant's business.
Appears in 1 contract
Samples: Letter Agreement (Synon Corp)
Eminent Domain. Either party may terminate If at any time during the term of this Lease if the entire premises or any material part thereof shall be taken as a result of the Premises is taken or condemned for any public or quasi-public use under Law, by exercise of the power of eminent domain or private purchase by an agreement in lieu thereof (a “Taking”). Landlord shall also have the right to terminate thereof, this Lease if there is a Taking of any portion of shall terminate as to the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective part so taken as of the effective date of any order granting possession to, or vesting legal title in, is taken by the condemning authority. If all or any substantial portion of the premises shall be taken, Landlord may terminate this Lease at its option, by giving Tenant written notice of such termination within thirty (30) days of such taking. If all or a portion of the premises taken are so substantial that Tenants use of the premises is not terminatedsubstantially impaired, Basic Rent Tenant may terminate this Lease pursuant to this Article. Unless terminated as herein provided for, this Lease shall remain in full force and Tenant’s Share of Operating Expenses effect, except that the rent payable by Tenant hereunder shall be appropriately adjusted to account for any reduction reduced in the square footage proportion that the area of the Building or Premisespremises so taken bears to the total premises. All compensation awarded for a Taking Landlord shall be entitled to and Tenant hereby assigns to Landlord the property entire amount of Landlord and the right to receive compensation or proceeds any award in connection with a Taking are expressly waived by Tenant; providedsuch taking. Nothing in this Article shall give Landlord any interest in or preclude Tenant from seeking, howeveron its own account, Tenant may file a separate claim for Tenant’s any award attributable to the taking of personal property and or trade fixtures belonging to Tenant’s reasonable relocation expenses, provided or for the filing interruption of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawTenant's business.
Appears in 1 contract
Eminent Domain. Either party may terminate this Lease if any material part If the whole of the Premises is shall be taken or condemned by any competent authority for any public use or quasi-public use under Lawpurpose or if such portion thereof shall be taken or condemned as shall materially change the character of the Premises so as to prevent House Corporation from using them in substantially the same manner as theretofore used, the term hereby granted shall cease on the day prior to the taking of possession by eminent domain such authority or private purchase the day prior to vesting of title in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking such authority, whichever first occurs, and an appropriate pro rata portion of any rent paid in advance by House Corporation shall be refunded. If a portion of the Building Premises shall be condemned or Project which would have taken, and if such taking does not result in a material adverse effect on Landlord’s ability to profitably operate alteration in the remainder character of the BuildingPremises so as to prevent House Corporation from using them in substantially the same manner as theretofore used, then this Lease shall continue in effect, and any damage to the Premises shall be repaired by Vanderbilt, but only to the extent of such condemnation award. After the date House Corporation is required to surrender possession of the portion taken, the rental payable hereunder shall be reduced in proportion to the decrease in the fair rental value of the Premises. The termination shall be effective as entire award of damages or compensation for a taking of the effective date of any order granting possession toPremises, whether such taking be in whole or vesting legal title inin part, the condemning authority. If this Lease is not terminated, Basic Rent shall belong to and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive Vanderbilt, except for such compensation as may be made for House Corporation's moving or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided which compensation shall belong to and be the filing property of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawHouse Corporation.
Appears in 1 contract
Samples: Lease Agreement
Eminent Domain. Either party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. , The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.
Appears in 1 contract
Eminent Domain. Either party may terminate this Lease if any material part In the event the whole of the Premises is Premises, Building, Property or Common Areas, or such part thereof as shall substantially interfere with Tenant's use and occupation thereof, shall be taken or condemned for any public or quasi-public use under Lawpurpose by any lawful power or authority by exercise of the right of appropriation, by condemnation or eminent domain domain, or private purchase is sold in lieu thereof (a “Taking”). Landlord of or to prevent such taking, either party shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any order granting possession to, award without deduction for any estate or vesting legal title in, the condemning authorityinterest of Tenant granted in this Lease. If Nothing contained in this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses Section 12.01 shall be appropriately adjusted deemed to account give Landlord any interest in any separate award made to Tenant for any reduction in the square footage taking of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and fixtures belonging to Tenant or for Tenant’s reasonable relocation 's moving expenses, provided . In the filing of the claim does not diminish event the amount of Landlord’s award. If only a part property or the type of estate taken shall not substantially interfere with the conduct of Tenant's business, Landlord shall be entitled to the entire amount of the Premises is subject award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining affected areas to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation, and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises as nearly as practicable which, Tenant shall have been unable to the condition immediately prior to the Taking. Tenant agrees that the provisions use in its business on account of this Lease shall govern any Taking said taking and shall accordingly supersede any contrary statute or rule of lawrestoration.
Appears in 1 contract
Samples: Lease (Microvision Inc)
Eminent Domain. Either party may terminate this Lease if any material part In the case the whole of the Premises is Premises, or such part thereof as shall substantially interfere with Lessee's use and occupancy thereof, shall be taken or condemned for any public or quasi-public use under Lawpurpose by any lawful power or authority by exercise of the right of appropriation, by condemnation or eminent domain domain, or private purchase in lieu thereof (a “Taking”). Landlord sold to prevent such taking, either party shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date possession is required to be surrendered to said authority. Lessee shall not assert any claim against Lessor or the taking authority for any compensation because of such taking, and Lessor shall be entitled to receive the entire amount of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account award without deduction for any reduction in estate or interest of Lessee. In the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish event the amount of Landlord’s awardproperty or the type of estate taken shall not substantially interfere with the conduct of Lessee's business, Lessor shall be entitled to the entire amount of the award without deduction for any estate or interest of Lessee, and Lessor at his option may terminate this Lease. If only Lessor does not so elect, Lessor shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking, and a proportionate allowance shall be made to Lessee for the rent corresponding to the time during which, and to the part of the Premises is subject of which, Lessee shall be so deprived on account of such taking and restoration. Nothing contained in this Paragraph shall be deemed to give Lessor any interest in any award made to Lessee for the taking of personal property and fixtures belonging to Lessee. A sale by Lessor to any authority with the power of eminent domain either under threat of condemnation or while condemnation proceedings are pending, shall be deemed a Taking and taking under the power of eminent domain under this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawParagraph.
Appears in 1 contract
Samples: Lynnwood Corporate Center Office Space Lease (Chicago Pizza & Brewery Inc)
Eminent Domain. Either party may terminate this Lease if any material If the whole or a substantial part of the Premises is Building shall be taken or condemned for any public or quasi-public use under Law, any statute or by right of eminent domain or private purchase in lieu thereof (a “Taking”). by any competent authority, Tenant shall have no claim against Landlord and shall also not have the any claim or right to terminate this Lease if there is a Taking of any portion of the Building amount that may be awarded as damages or Project which would have paid as a material adverse effect on result of any such condemnation or purchase; and all right of the Tenant to damages therefor are hereby assigned by Tenant to Landlord’s ability . Landlord shall, upon receiving written notification from the condemning authority relating to profitably operate the remainder a taking or condemnation of the Building, notify Tenant of the same within ten (10) business days of Landlord's receipt of such notice. The termination foregoing shall be effective as of the effective date not, however, deprive Tenant of any order granting separate award for moving expenses, business dislocation damages or for any other award which would not reduce the award payable to Landlord. Upon the date the right to possession to, or vesting legal title in, shall vest in the condemning authority. If , this Lease is not terminatedshall, Basic Rent at the option of Landlord or (only in the case of condemnation or taking of the entire Building or such partial taking as results in the untenantability of the Demised Premises) at the option of Tenant, cease and Tenant’s Share of Operating Expenses shall be appropriately terminate with rent adjusted to account such date and Tenant shall have no claim against Landlord for the value of any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions unexpired term of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawLease.
Appears in 1 contract
Samples: Radnor Technology and Research Center Office and Cafeteria Lease (BioMed Realty Trust Inc)
Eminent Domain. Either party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). ) Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.
Appears in 1 contract
Samples: Lease (Wm Technology, Inc.)
Eminent Domain. Either party may terminate this Lease if any material part 31. (A) In the event that the whole of the Demised Premises is or access thereto, shall be lawfully condemned or taken or condemned in any manner for any public or quasi-public use under Lawuse, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion and the term and estate hereby granted shall forthwith cease and terminate as of the Building or Project which would have date of vesting of title. In the event that a material adverse effect on Landlord’s ability to profitably operate the remainder part of the Building. The termination Demised Premises shall be so condemned or taken, then effective as of the effective date of any order granting possession tovesting of title, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic rent and Additional Rent and Tenant’s Share of Operating Expenses hereunder shall be appropriately adjusted abated in an amount thereof apportioned according to account for any reduction in the square footage area of the Demised Premises so condemned or taken. In the event that a material part of the Building or Premises. All compensation awarded for a Taking (in excess of 25%) shall be so condemned or taken, then Landlord (whether or not the property of Landlord Demised Premises be affected) may, at its option terminate this Lease and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property term and Tenant’s reasonable relocation expenses, provided the filing estate hereby granted as of the claim does not diminish date of such 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. In the amount of Landlord’s award. If event that only a part of the Demised Premises is subject to a Taking shall be so condemned or taken and this Lease and the term and estate hereby granted is not terminatedterminated as hereinbefore provided, LandlordLandlord will, with reasonable diligenceat its expense, will promptly (but in all events in less than 120 days) restore the remaining portion of the Demised Premises as nearly as practicable to the same condition immediately as it was in prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute such condemnation or rule of lawtaking.
Appears in 1 contract
Eminent Domain. Either party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase conveyance in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which Property that would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The terminating party shall provide written notice of termination to the other party within forty-five (45) days after it first receives notice of the Taking. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Base Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the Landlord. The right to receive compensation or proceeds in connection with a Taking are is expressly waived by Tenant; , provided, however, Tenant may file a separate claim claim, for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the such claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that hereby waives any and all rights it might otherwise have pursuant to Section 1265.130 of the provisions California Code of this Lease shall govern Civil Procedure, or any Taking and shall accordingly supersede any contrary statute similar or rule of lawsuccessor Laws.
Appears in 1 contract
Samples: Office Lease Agreement (Velti PLC)
Eminent Domain. Either party may terminate If the entire Premises are at any time after execution of this Lease if any material part of the Premises is taken or condemned for any by public or quasi-public use or condemned under Laweminent domain, then this Lease shall terminate and expire effective the date of such taking and any rent paid in advance and any unearned charges shall be refunded to Tenant by eminent domain or private purchase in lieu thereof (a “Taking”)Lessor on such date. Landlord Tenant shall also have the right to terminate this Lease if there is and to receive from Lessor an appropriate refund of rent paid in advance and unearned charges if, as a Taking result of eminent domain proceeding or other governmental or quasi-public action, any portion of the Building Premises or Project which would have a material adverse effect on Landlord’s ability portion of the parking or access area serving the Premises is taken. Should Tenant elect to profitably operate remain in the Premises after any partial taking, then rent and other charges shall be reduced for the remainder of the Building. The termination shall be effective as of term thereafter in proportion to the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part floor area of the Premises is subject to taken, and/or reduced by a Taking mutually agreeable equitable amount for any non-building area taken and this Lease is not terminated, Landlord, with reasonable diligence, will Lessor shall promptly repair and restore the remaining portion of the Premises as nearly as practicable possible to their prior condition. Tenant shall not be entitled to damages for the taking of its leasehold estate or the diminution of the value thereof, provided, if Tenant has made any leasehold improvements to the condition immediately prior Premises or material alterations, structural changes or repairs thereto at its own expenses, regardless of when made, Tenant shall be entitled to claim an award for the Takingunamortized balance of Tenant's cost thereof provided the condemning authority makes a separate award therefor. In addition, Tenant agrees that the provisions shall be entitled to claim an award for loss of this Lease shall govern any Taking business, damage to merchandise and shall accordingly supersede any contrary statute or rule of lawfixtures, removal and reinstallation costs and moving expenses.
Appears in 1 contract
Eminent Domain. Either party may terminate this Lease if (i) any material part of the Premises is Premises, (ii) any material points of vehicle access serving the Building, or (iii) any material parking rights under this Lease are taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.
Appears in 1 contract
Samples: Lease (Lantronix Inc)
Eminent Domain. Either party may terminate If the Premises, or so much thereof as to render the -------------- balance unusable for the Permitted Use, shall be taken under power of eminent domain, this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to automatically terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective later of the date of any order granting possession tosuch condemnation, or vesting legal title in, the date possession is taken by the condemning authority, or as otherwise herein provided. If this Lease is not terminatedIn the event of a partial taking, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted , at its sole discretion, may elect to account for any reduction continue its occupancy in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises and Base Rent will be proportionately adjusted. Landlord will retain any award which may be made in such taking or condemnation as nearly as practicable such relates to the condition immediately prior Building including, but not limited to, all fee, leasehold and easement estates in the land upon which the Building and the Premises is located. Tenant will receive any and all awards as such relate to Tenant's loss of business, Tenant's furniture, fixtures and equipment, Tenant's improvements to the TakingPremises, and other items as such related to Tenant. Tenant agrees that In the provisions event of a partial taking which does not result in a termination of this Lease Lease, Base Rent shall govern be proportionately adjusted. Landlord may without any Taking obligation or liability to Tenant stipulate with any condemning authority for a judgment of condemnation, and the date of taking under this clause shall accordingly supersede any contrary statute or rule then be deemed the date agreed to under the terms of lawsaid stipulation.
Appears in 1 contract
Samples: Disturbance and Attornment Agreement (Pac-West Telecomm Inc)
Eminent Domain. Either party may terminate this Lease if (i) any material part of the Premises is Premises, (ii) any material points of vehicle access serving the Building, or (iii) any material parking rights under this Lease are taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s 's personal property and Tenant’s 's reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.
Appears in 1 contract
Samples: Lease (Lantronix Inc)
Eminent Domain. Either party Except as may terminate be otherwise agreed to by Landlord and Tenant as provided in this Lease Section 16, if any material part all of the Premises, or such portion of the Premises is as renders the remainder impractical for the Permitted Use, are taken or condemned for by any public authority under the power or quasi-public use under Law, by threat of eminent domain or by private purchase in lieu thereof (a “Taking”). Landlord shall also have thereof, then the right to terminate term of this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective cease as of the effective date possession shall be taken by such public authority, and Landlord shall make a pro rata refund of any order granting possession to, or vesting legal title in, Annual Base Rent that may have been paid in advance. In the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If event that only a part of the Premises is subject so taken and Tenant’s ability to carry on the Permitted Use as originally intended by Tenant has not been impeded, there shall be a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore pro rata reduction in Annual Base Rent for the remaining period following such taking based on the portion of the Premises as nearly as practicable rendered untenantable for the Permitted Use, and all other terms and provisions hereof shall remain in full effect. All damages awarded for any such taking shall belong to and be the property of Landlord for diminution in value to this leasehold or to the condition immediately prior fee of the Premises; provided, however, that Landlord shall not be entitled to any portion of the Takingaward made to Tenant for loss of business, depreciation to and cost of removal of stock and fixtures. Tenant agrees that shall have the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawright to seek its own award from the condemning authority provided it does not diminish Landlord’s award.
Appears in 1 contract
Samples: Lease Agreement (HS Spinco, Inc.)
Eminent Domain. Either party may terminate this Lease if any material If the whole or a substantial part of the Premises is shall be taken or condemned or is under threat of being taken by any governmental authority for any public or quasi-public use or purpose, then the term of this Lease shall cease and terminate as of the date when title vests in such governmental authority, and Tenant shall have no claim against Landlord or the condemning authority for any portion of the amount that may be awarded as damages as a result of such taking or condemnation or for the value of any unexpired term of the Lease. Tenant may make a separate claim against the condemning authority for a separate award for the value of any unexpired term of the Lease, Tenant’s tangible personal property and trade fixtures and for consequential damages as may be allowed by law, provided the same shall be abated on the date when such title vests in such governmental authority. If less than a substantial part of the Premises is taken, or condemned or is under Lawthreat of being taken by any governmental authority for any public or quasi-public use or purpose, monthly rent shall be equitably adjusted on the date when title vests in such governmental authority, and the Lease shall otherwise continue in full force and effect. For purposes of this Article, a substantial part of the Premises shall be considered to have been taken if more than twenty-five percent (25%) of the Premises are unusable by eminent domain or private purchase in lieu thereof (a “Taking”)Tenant. Landlord shall also have the right may elect to terminate this Lease (whether or not the Premises shall have been condemned), if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability Landlord elects to profitably operate demolish the remainder of the Building. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.
Appears in 1 contract
Samples: Lease Agreement (Ener1 Inc)
Eminent Domain. Either party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The terminating party shall provide written notice of termination to the other party within 45 days after it first receives notice of the Taking. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, . Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, . Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.
Appears in 1 contract
Samples: Sublease (Medicinova Inc)
Eminent Domain. Either party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-quasi- public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would Exhibit 10.36 have a material adverse effect on Landlord’s ability to profitably operate the remainder of the BuildingBuilding or Project. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s 's personal property and Tenant’s 's reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.
Appears in 1 contract
Samples: Lease (Tandem Diabetes Care Inc)
Eminent Domain. Either party may terminate If at any time during the term of this Lease if the entire premises or any material part thereof shall be taken as a result of the Premises is taken or condemned for any public or quasi-public use under Law, by exercise of the power of eminent domain or private purchase by an agreement in lieu thereof (a “Taking”). Landlord shall also have the right to terminate thereof, this Lease if there is a Taking of any portion of shall terminate as to the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective part so taken as of the effective date of any order granting possession to, or vesting legal title in, is taken by the condemning authority. If all or any substantial portion of the premises shall be taken, Landlord may terminate this Lease at its option, by giving Tenant written notice of such termination within thirty (30) days of such taking. If all or a portion of the premises taken are so substantial that Tenant's use of the premises is not terminatedsubstantially impaired, Basic Rent Tenant may terminate this Lease pursuant to this Article. Unless terminated as herein provided for, this Lease shall remain in lull force and Tenant’s Share of Operating Expenses effect, except that the rent payable by Tenant hereunder shall be appropriately adjusted to account for any reduction reduced in the square footage proportion that the area of the Building or Premisespremises so taken bears to the total premises. All compensation awarded for a Taking Landlord shall be entitled to and Tenant hereby assigns to Landlord the property entire amount of Landlord and the right to receive compensation or proceeds any award in connection with a Taking are expressly waived by Tenant; providedsuch taking. Nothing in this Article shall give Landlord any interest in to preclude Tenant from seeking, howeveron its own account, Tenant may file a separate claim for Tenant’s any award attributable to tile taking of personal property and or trade fixtures belonging to Tenant’s reasonable relocation expenses, provided or for the filing interruption of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawTenant's business.
Appears in 1 contract
Samples: Commercial and Industrial Lease (Sport Endurance, Inc.)
Eminent Domain. Either party may terminate If at any time during the term of this Lease if the entire Demised Premises or any material part thereof shall be taken as a result of the Premises is taken or condemned for any public or quasi-public use under Law, by exercise of the power of eminent domain or private purchase by an agreement in lieu thereof (a “Taking”). Landlord shall also have the right to terminate thereof, this Lease if there is a Taking of any portion of shall terminate as to the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective part so taken as of the effective date of any order granting possession to, or vesting legal title in, is taken by the condemning authority. If all or any substantial portion of the Demised Premises shall be taken, Landlord may terminate this Lease at its option, by giving Tenant written notice of such termination within thirty (30) days of such taking. If all or a portion of the premises taken are so substantial that Tenant's use of the Demised Premises is not terminatedsubstantially impaired, Basic Rent Tenant may terminate this Lease pursuant to this Article. Unless terminated as herein provided for, this Lease shall remain in full force and Tenant’s Share of Operating Expenses effect, except that the rent payable by Tenant hereunder shall be appropriately adjusted to account for any reduction reduced in the square footage proportion that the area of the Building or Premisespremises so taken bears to the total premises. All compensation awarded for a Taking Landlord shall be entitled to and Tenant hereby assigns to Landlord the property entire amount of Landlord and the right to receive compensation or proceeds any award in connection with a Taking are expressly waived by Tenant; providedsuch taking. Nothing in this Article shall give Landlord any interest in or preclude Tenant from seeking, howeveron its own account, Tenant may file a separate claim for Tenant’s any award attributable to the taking of personal property and or trade fixtures belonging to Tenant’s reasonable relocation expenses, provided or for the filing interruption of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawTenant's business.
Appears in 1 contract
Samples: Comfort Systems Usa Inc
Eminent Domain. Either party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building Buildings or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the BuildingBuildings. The terminating party shall provide written notice of termination to the other party within 30 days after it first receives notice of the Taking. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building Buildings or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s 's personal property and Tenant’s 's reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.
Appears in 1 contract
Eminent Domain. Either party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase conveyance in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which Property that would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The terminating party shall provide written notice of termination to the other party within forty-five (45) days after it first receives notice of the Taking. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Base Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the Landlord. The right to receive compensation or proceeds in connection with a Taking are is expressly waived by Tenant; , provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the such claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that hereby waives any and all rights it might otherwise have pursuant to Section 1265.130 of the provisions California Code of this Lease shall govern Civil Procedure, or any Taking and shall accordingly supersede any contrary statute similar or rule of lawsuccessor Laws.
Appears in 1 contract
Samples: Office Lease Agreement (RPX Corp)
Eminent Domain. Either party If the whole of the Premises, or such part thereof as shall substantially interfere with Tenant's use and occupancy thereof, shall be taken by any lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, either Tenant or Landlord may terminate this Lease if effective as of the date possession is required to be surrendered to said authority. Except as provided herein, Tenant shall not because of such taking assert any material claim against Landlord for any compensation because of such taking. If the amount of property or the type of estate taken shall not substantially interfere with Tenant's use of the Premises, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant. In such event, Landlord shall proceed promptly to restore the Premises to substantially their condition prior to such partial taking, and a proportionate allowance shall be made to Tenant for the rent corresponding to the time during which, and to the part of the Premises is taken or condemned for any public or quasi-public use under Lawof which, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination Tenant shall be effective as so deprived on account of the effective date of such taking and restoration. Nothing contained in this Article 20 shall be deemed to give Landlord any order granting possession tointerest in, or vesting legal title inprevent Tenant from seeking any award against the taking authority for, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share taking of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable fixtures belonging to Tenant or for relocation expenses, provided or business interruption expenses recoverable by Tenant from the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawtaking authority.
Appears in 1 contract
Eminent Domain. Either If the whole or any part of the Premises shall be taken under the power of eminent domain, this Lease Agreement shall terminate as to the part so taken on the date Tenant is required to yield possession thereof to the condemning authority. To the extent the government compensates Landlord, Landlord shall make such repairs and alterations as may be necessary in order to restore the part not taken to useful condition and the minimum rental shall be reduced proportionately as to the portion of the Leased Premises so taken. If the portion of the Leased Premises so taken renders the balance of the Leased Premises untenantable, taking into account the nature of Tenant's business, either party may terminate this Lease if any material part Agreement as of the Premises date when Tenant is taken required to yield possession. If twenty-five percent (25%) or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have more of the right to terminate this Lease if there is a Taking of any portion total rentable floor area of the Building or Project which would have a material adverse effect the parking areas located on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective Lot is taken as aforesaid, then Landlord may terminate this Lease Agreement as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premisestaking. All compensation awarded for a Taking any taking of the leasehold and/or the improvements thereon shall belong to and be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by TenantLandlord; provided, however, that nothing contained herein shall prevent Tenant may file a separate claim from applying for Tenant’s personal property and Tenant’s reasonable reimbursement from the condemning authority (if permitted by law) for relocation expenses, provided the filing or removal of the claim does Tenant's furniture, business equipment and such fixtures as Tenant is permitted to remove hereunder, but if and only if such action shall not diminish reduce the amount of Landlord’s award. If only a part of compensation otherwise recoverable by Landlord from the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawcondemning authority.
Appears in 1 contract
Eminent Domain. Either party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the BuildingBuilding or Project. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.
Appears in 1 contract
Samples: Lease (Netlist Inc)
Eminent Domain. Either party In case the Collateral, or any part or interest in any thereof, is taken by condemnation, the Grantor shall take all action required by the Beneficiary, in order to protect Grantor’s and Beneficiary’s rights with respect to any such taking, including the commencement of, appearance in or prosecution of any appropriate action or proceeding. The Beneficiary is hereby empowered to collect and receive all compensation and awards of any kind whatsoever (referred to collectively herein as “Condemnation Awards”) which may terminate this Lease if be paid for any material part property taken or for damages to any property not taken (all of which the Grantor hereby assigns to the Beneficiary), and, subject to the terms of the Premises is Leases, all Condemnation Awards so received shall be forthwith applied by the Beneficiary, as it may elect in its sole and unreviewable discretion, to the prepayment of the loans or any of the other Secured Obligations or, at the option of the Beneficiary, may be held by the Beneficiary as additional security for the Secured Obligations, or may be applied to the repair and restoration of any property not so taken or condemned for any public or quasi-public use under Lawdamaged, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property that no election made by the Beneficiary under this section shall relieve the Grantor of the duty to repair and Tenantrestore. The Grantor hereby empowers the Beneficiary, in the Beneficiary’s reasonable relocation expensesdiscretion to settle, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking compromise and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable adjust any and all claims or rights arising under any condemnation or eminent domain proceeding relating to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern Collateral or any Taking and shall accordingly supersede any contrary statute or rule of lawportion thereof.
Appears in 1 contract
Samples: www.archuletacounty.org
Eminent Domain. Either party may terminate If the whole of the Lease Premises shall be taken or condemned in any eminent domain, condemnation, compulsory acquisition or like proceeding by any competent authority, this Lease if Agreement shall terminate as of the date of such taking or condemnation. The LESSOR shall refund to the LESSEE the Security Deposit, less any material amount that may be properly deducted therefrom in accordance with the terms of this Lease Agreement. If only part of the Leased Premises is or the RCBC Plaza Tenancy Areas shall be taken or condemned in any eminent domain, condemnation, compulsory acquisition or like proceeding, by any competent authority for any public or quasi-public use under Lawor purpose, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate then this Lease if there is a Taking of any portion Agreement shall continue to be effective, subject to the proportionate reduction of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder Rent due. In either of the Building. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title inforegoing events, the condemning authority. If this Lease is LESSEE shall not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted have any right or claim to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject compensation or award granted or to be granted to the LESSOR as consideration for such taking. However, provided that the compensation to be received by the LESSOR shall not be reduced thereby, nothing contained herein shall preclude the LESSEE from claiming, proving and receiving from the condemning authority a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore separate award for the remaining portion value of any of the LESSEE's property taken by the condemning authority which the LESSEE could have rightfully removed from the Leased Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawhereunder.
Appears in 1 contract
Samples: Lease Agreement (Access Worldwide Communications Inc)
Eminent Domain. Either party may terminate this Lease if any material If a substantial portion of the building, or a substantial part of the Premises is demised premises, shall be lawfully taken or condemned for any public or quasi-public use or purpose, or conveyed under Lawthreat of such condemnation, the term of this Lease shall end upon, and not before, the date of the taking of possession by eminent domain the condemning authority, and without apportionment of the award. Current rent shall be apportioned as of the date of such termination. If any part of the building shall be so taken or private purchase in lieu thereof (a “Taking”). condemned, or if the grade of any street or alley adjacent to the building is changed by any competent authority and such taking or change of grade makes it necessary or desirable to demolish, substantially remodel, or restore the building, Landlord shall also have the right to terminate cancel this Lease upon not less than ninety (90) days notice prior to the date of cancellation designated in the notice. No money or other consideration shall be payable by Landlord or Tenant for the right of cancellation, and Tenant may not share in the condemnation award (or in any judgment for damages caused by the change of grade). Tenant may proceed independently in such proceedings if there is a Taking of any it chooses. If an insubstantial portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The termination premises shall be effective as lawfully taken or condemned or conveyed under threat of condemnation so that the effective date of any order granting possession topremises can be used by Tenant for the purposes set forth in this Lease, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, terminated by Landlord, with reasonable diligenceLandlord shall repair the premises, will restore and the remaining portion Lease shall be amended to reduce Tenant's Proportion and Base Rent in the proportion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of lawamount taken.
Appears in 1 contract
Samples: Chicago Mercantile Exchange Inc
Eminent Domain. Either party may terminate this Lease if any material part of the Premises is taken or condemned for any public or quasi-public use under Law, by eminent domain or private purchase in lieu thereof (a “Taking”). Landlord shall also have the right to terminate this Lease if there is a Taking of any portion of the Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of a Building or the BuildingProject. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for a Taking shall be the property of Landlord and the right to receive compensation or proceeds in connection with a Taking are expressly waived by TenantXxxxxx; provided, however, Tenant may file a separate claim for Tenant’s personal property and TenantXxxxxx’s reasonable relocation expenses, provided the filing of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining portion of the Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of this Lease shall govern any Taking and shall accordingly supersede any contrary statute or rule of law.
Appears in 1 contract
Samples: Lease (Axonics, Inc.)