Eminent Domain. If the whole or any substantial part, in Lessor’s discretion of the Premises should be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate and the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 2 contracts
Samples: Ground Lease Agreement (Valero Energy Partners Lp), Ground Lease Agreement (Valero Energy Partners Lp)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Premises should shall be taken for any public or quasi-public use by a governmental authority under governmental law, ordinance or regulation, or by right the power of eminent domain, domain or by private purchase shall be conveyed to a governmental authority in lieu thereof (a “Taking”)of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease shall terminate and as of the Rent shall be abated during date Tenant is required to surrender possession of the unexpired portion of this Lease, effective when the physical taking Premises. If a part of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, be taken or conveyed but the Base Rent payable hereunder during the unexpired portion of remaining part is tenantable and adequate for Tenant’s use, then this Lease shall be reduced terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such extent repairs, alterations and improvements as may be fair necessary to render the part not taken or conveyed tenantable; and reasonable under all the rent shall be reduced in proportion to the part of the circumstancesPremises so taken or conveyed. In All compensation awarded for such taking or conveyance shall be the event property of Landlord without any deduction therefrom for any present or future estate of Tenant, and Tenant hereby assigns to Landlord all its right, title and interest in and to any such Takingaward. However, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Xxxxxx shall have the right to claim and recover from the condemning governmental authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any the interruption of Tenant’s business, moving and all damage relocation expenses and depreciation to the Terminal Facilities and/or Lesseeand removal of Xxxxxx’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, trade fixtures and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, so long as such award does not reduce the Terminal Facilities, from the PremisesLandlord’s award.
Appears in 2 contracts
Samples: Office Lease (MBX Biosciences, Inc.), Office Lease (MBX Biosciences, Inc.)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Premises should demised premises or the Building shall be taken for by any public or quasi-public use authority under governmental law, ordinance or regulation, or by right the power of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate and then the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion term of this Lease shall cease on the part so taken on the date possession of that part shall be reduced required for public use, and any rent paid in advance of such date shall be refunded to Tenant, and Landlord and Tenant shall each have the right to terminate this Lease upon written notice to the other, which notice shall be delivered within thirty (30) days following the date notice is received of such extent as may be fair and reasonable under all of the circumstancestaking. In the event that neither party hereto shall terminate this Lease, Landlord shall, to the extent the proceeds of the condemnation award (other than any proceeds awarded for the value of any such Takingland taken) are available, Lessor make all necessary repairs to the demised premises and Lessee the Building to render and restore the same to a complete architectural unit and Tenant shall each be entitled to receive and retain such separate awards and/or continue in possession of the portion of lump sum awards the demised premises not taken under the power of eminent domain, under the same terms and conditions as may are herein provided, except that the rent reserved herein shall be allocated reduced in direct proportion to their respective interests the amount of the demised premises so taken. All damages awarded for taking shall belong to and be the property of Landlord, whether such damages be awarded as compensation for diminution in any condemnation proceedings. Lessor value of the leasehold or to the fee of the demised premises; provided, however, Landlord shall not be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, award made to Tenant for removal and for or on account reinstallation of any cost or loss to which Lessee might be put in removing Lessee’s personal property, trade fixtures, leasehold improvements and equipmentloss of business, including, without limitation, the Terminal Facilities, from the Premisesor moving expenses.
Appears in 2 contracts
Samples: Lease Agreement (Rexahn Pharmaceuticals, Inc.), Lease Agreement (Gemphire Therapeutics Inc.)
Eminent Domain. If the whole or any substantial part, in Lessor’s reasonable discretion of the Premises should be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate and the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances, including the proportion to the reduction in utility of the Premises caused by such Taking. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities Tank Farm Assets and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal FacilitiesTank Farm Assets, from the Premises.
Appears in 2 contracts
Samples: Lease Agreement (Valero Energy Partners Lp), Lease Agreement (Valero Energy Partners Lp)
Eminent Domain. If the whole all or any substantial part, in Lessor’s discretion part of the Premises should be is taken for any public or quasi-public use by a governmental authority under governmental law, ordinance or regulation, or by right the power of eminent domain, domain or by private purchase is conveyed to a governmental authority in lieu thereof of such taking, and if the taking or conveyance causes the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant, at its option and by giving notice within fifteen (15) days after the taking, may terminate this Lease as of the date Tenant is required to surrender possession of the Premises. If a “Taking”)part of the Premises is taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall terminate 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; and the Rent shall be abated during reduced in proportion to the unexpired portion of this Lease, effective when the physical taking part of the Premises shall occurtaken or conveyed. If there is a Taking of less than a substantial part of All compensation awarded for the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease taking or conveyance shall be reduced the property of Landlord without any deduction therefrom for any estate of Tenant, and Tenant hereby assigns to such extent as may be fair Landlord all its right, title and reasonable under all of interest in and to the circumstancesaward. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right right, however, to claim and recover from the condemning governmental authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any the interruption of Tenant's business, moving and all damage to the Terminal Facilities and/or Lessee’s business by reason relocation expenses; and removal of the condemnation, including loss of value of any unexpired portion of the Term, Tenant's trade fixtures and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 2 contracts
Samples: Sublease (Marvell Technology Group LTD), Lease (Pc Tel Inc)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion of the Premises should or the Project or so much thereof as to render the balance unusable by Tenant shall be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right power of eminent domain, or by private purchase is sold, transferred or conveyed in lieu thereof (a “Taking”)thereof, this Lease shall automatically terminate and as of the Rent date of such condemnation, or as of the date possession is taken by the condemning authority, whichever is earlier. No award for any partial or entire taking shall be abated during apportioned, and Tenant hereby assigns to Landlord any award which may be made in such taking or condemnation, together with any and all rights of Tenant now or hereafter arising in or to the unexpired portion of this Leasesame or any part thereof; provided, effective when however, that nothing contained herein shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award made to Tenant for the physical taking of personal property and trade fixtures belonging to Tenant and removable by Tenant at the Premises shall occur. If there is a Taking of less than a substantial part expiration of the PremisesTerm hereof as provided hereunder or for the interruption of, this Lease shall not terminateor damage to, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstancesTenant’s business. In the event of any such Takinga partial taking described in this Article 18, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion or a sale, transfer or conveyance in lieu thereof, which does not result in a termination of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor this Lease, the Basic Rental shall be entitled apportioned according to any award and all damages payable as a result of any condemnation or taking the ratio that the part of the fee Premises remaining useable by Tenant bears to the total area of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of Tenant hereby waives any and all damage rights it might otherwise have under law to terminate this Lease in the Terminal Facilities and/or Lessee’s business by reason event of the condemnation, including loss a taking under power of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premiseseminent domain.
Appears in 2 contracts
Samples: Standard Office Lease, Standard Office Lease (Coinstar Inc)
Eminent Domain. If Should the leased premises or the building be taken, appropriated or condemned for public purposes, or voluntarily transferred in lieu of condemnation, in whole or any in such substantial part, in part as to render the building unsuitable for Lessor’s discretion purposes or the leased premises unsuitable for Lessee’s purposes, the term of this lease shall, at the option of Lessor in the first instance and at the option of Lessee in the second instance, terminate when Lessee’s right to possession is terminated. If neither party exercises this option to terminate within 10 days after the date of such taking, or if the portion of the Premises should be taken for any public leased premises or quasi-public use under governmental lawthe building taken, ordinance appropriated, condemned or regulation, or by right of eminent domain, or by private purchase voluntarily transferred in lieu thereof (a “Taking”)of condemnation does not render the building unsuitable for Lessor’s purposes or the leased premises unsuitable for Lessee’s purposes, then this Lease lease shall terminate only as to the part taken or conveyed on the date Lessee shall yield possession, and Lessor shall make such repairs and alterations as may be necessary to make the part not taken usable, and the Rent rental payable hereunder shall be abated during reduced in proportion to the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to leased premises taken. All compensation awarded for such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee and leasehold shall belong to and be the property of the PremisesLessor without any deduction therefrom for any present or future estate of Lessee and Lessee hereby assigns to Lessor all its right, title and interest to any such award. However, Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by to Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or interruption of Lessee’s business by reason of the condemnationbusiness, including loss of value of any unexpired portion of the Term, for moving and relocation expenses and for or on account depreciation to and removal of any cost or loss to which Lessee might be put in removing Lessee’s personal property, goods and trade fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 2 contracts
Samples: Warehouse/Office Lease (Dynamic Health Products Inc), Lease Agreement (GeoPharma, Inc.)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion a material portion of the Premises should (or use or occupancy of the Premises) shall be taken or condemned by a governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under governmental law, ordinance or regulationthreat of such a taking), or if the owner elects to convey title to the condemnor by right a deed in lieu of eminent domaincondemnation, or by private purchase if all or any portion of the Land or Building are so taken, condemned or conveyed and as a result thereof, in lieu thereof (a “Taking”)Landlord’s reasonable but sole judgment, the Premises cannot be used for Tenant’s Permitted Use as set forth herein, then this Lease shall cease and terminate as of the date when title vests in such governmental or quasi-governmental authority and the Fixed Rent and Additional Rent shall be abated during on the unexpired date when such title vests in such governmental or quasi-governmental authority. If less than a material portion of this Lease, effective when the physical taking of the Premises is taken or condemned by any governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking), Landlord shall occur. If there is a Taking of less than a substantial part promptly restore the remaining portion of the PremisesPremises to an architecturally and functionally complete unit, and Fixed Rent and Tenant’s Proportionate Share shall be equitably adjusted (on the basis of the number of square feet before and after such event) on the date when title vests in such governmental or quasi-governmental authority and this Lease shall not terminateotherwise continue in full force and effect. In any case, but the Base Rent payable hereunder during the unexpired Tenant shall have no claim against Landlord for any portion of this Lease shall be reduced to such extent as the amount that may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards awarded as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any governmental or quasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all rights of the fee of the PremisesTenant to damages therefor are hereby assigned by Tenant to Landlord. Lessee The foregoing shall have the right to claim and recover from the condemning authoritynot, but not from Lessorhowever, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account deprive Tenant of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnationseparate award for moving expenses, including loss of dislocation damages, value of any unexpired portion of the Term, furnishing and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, trade fixtures, leasehold improvements and equipment, including, without limitation, or for any other award which would not reduce the Terminal Facilities, from the Premisesaward payable to Landlord.
Appears in 2 contracts
Samples: Lease Agreement (Spero Therapeutics, Inc.), Lease Agreement (Spero Therapeutics, Inc.)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion of the Premises should or the Project or so much thereof as to render the balance unusable by Tenant shall be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right power of eminent domain, or by private purchase is sold, transferred or conveyed in lieu thereof (a “Taking”)thereof, this Lease shall automatically terminate and as of the Rent date possession is taken by the condemning authority. No award for any partial or entire taking shall be abated during apportioned, and Tenant hereby assigns to Landlord any award which may be made in such taking or condemnation, together with any and all rights of Tenant now or hereafter arising in or to the unexpired portion of this Leasesame or any part thereof; provided, effective when however, that nothing contained herein shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award made to Tenant for the physical taking of personal property and trade fixtures belonging to Tenant and removable by Tenant at the Premises shall occur. If there is a Taking of less than a substantial part expiration of the PremisesTerm hereof as provided hereunder or for the interruption of, this Lease shall or damage to, Tenant's business or for Tenant's moving costs (as long as such separate award does not terminate, but reduce the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all amount of the circumstancesaward that would otherwise be awarded to Landlord). In the event of any such Takinga partial taking described in this Article 18, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion or a sale, transfer or conveyance in lieu thereof, which does not result in a termination of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor this Lease, the rent shall be entitled apportioned according to any award and all damages payable as a result of any condemnation or taking the ratio that the part of the fee Premises remaining useable by Tenant bears to the total area of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of Tenant hereby waives any and all damage rights it might otherwise have pursuant to the Terminal Facilities and/or Lessee’s business by reason Section 1265.130 of the condemnation, including loss California Code of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the PremisesCivil Procedure.
Appears in 2 contracts
Samples: Lease (Cohu Inc), Agreement of Purchase and Sale (Cohu Inc)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion of the Premises should be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof the Project (a “Taking”), this Lease shall terminate and the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilitiesparking areas) or so much thereof as to render the balance unusable by Tenant shall be taken under power of eminent domain, from or is sold, transferred or conveyed in lieu thereof, this Lease shall automatically terminate as of the date of such condemnation, or as of the date possession is taken by the condemning authority, at Landlord’s option. No award for any partial or entire taking shall be apportioned, and Tenant hereby assigns to Landlord any award which may be made in such taking or condemnation, together with any and all rights of Tenant now or hereafter arising in or to the same or any part thereof; provided, however, that nothing contained herein shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award made to Tenant for the taking of personal property and trade fixtures belonging to Tenant and removable by Tenant at the expiration of the Term hereof as provided hereunder or for the interruption of, or damage to, Tenant’s business. In the event of a partial taking described in this Article 18, or a sale, transfer or conveyance in lieu thereof, which does not result in a termination of this Lease, the rent shall be apportioned according to the ratio that the part of the Premises remaining useable by Tenant bears to the total area of the Premises. Tenant hereby waives any and all rights it might otherwise have pursuant to Section 1265.130 of the California Code of Civil Procedure.
Appears in 2 contracts
Samples: Standard Office Lease (loanDepot, Inc.), Standard Office Lease (loanDepot, Inc.)
Eminent Domain. If In the whole event any portion of said leased Premises is taken by any condemnation or any substantial parteminent domain proceedings, in Lessor’s discretion the (minimum) monthly rental herein specified to be paid shall be ratably reduced according to the area of the leased Premises should be taken for any public or quasi-public use under governmental lawwhich is taken, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate and the Rent Tenant shall be abated during entitled to no other consideration by reason of such taking, and any damages suffered by Tenant on account of the unexpired taking of any portion of this Leasesaid leased Premises and any damages to any structures erected on said leased Premises, effective when the physical taking respectively, that shall be awarded to Tenant in said proceedings shall be paid to and received by Landlord, and Tenant shall have no right therein or thereto or to any part thereof, and Tenant does hereby relinquish and assign to Landlord all of the Premises shall occurTenant's rights and equities in and to any such damages. If there is a Taking of less than a substantial part Should all of the Premises, this Lease shall not terminateor so much thereof as to make its further use by Tenant manifestly impractical, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair taken by eminent domain, then and reasonable under all of the circumstances. In the in that event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor Tenant shall be entitled to no damages or any award consideration by reason of such taking, except the cancellation and all damages payable termination of this Lease as a result of any condemnation or taking of the fee date of the Premisessaid taking. Lessee The above notwithstanding Tenant shall have the right to claim bring its own separate action for recovery of losses to Tenant's equipment and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, trade fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesas well as Tenant's moving expenses and/or business interruption damages.
Appears in 2 contracts
Eminent Domain. If 9.1 In the whole event that the entire Premises or any substantial part, in Lessor’s discretion such portion thereof as would deprive Tenant of all beneficial use of the Premises should be is taken or condemned by any competent authority for any public or quasi-public use under governmental law, ordinance or regulationpurpose, or by right is sold as a result of eminent domain, an impending taking or by private purchase in lieu thereof condemnation (a “Taking”), "taking") this Lease shall terminate and as of the Rent shall be abated during date of the unexpired taking. If a taking relates only to a portion of this Lease, effective when the physical taking of the Premises shall occur. If there or Tenant is a Taking not deprived of less than a substantial part all beneficial use of the Premises, this Lease Landlord (after such taking or condemnation and the determination of Landlord's award therein) shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent expend so much as may be fair and reasonable under all necessary of the circumstancesnet amount of Landlord's award in effecting any restoration necessary to make the Premises tenantable and the Lease shall continue without reduction of the rent. In the any event of any such Takinga taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor Tenant shall be entitled to a pro rata refund of any rental paid in advance and all compensation awarded and" paid for such taking shall belong to and be the property of Landlord irrespective of the basis upon which it is awarded, Tenant hereby specifically assigning to Landlord any award and all damages payable as a result or compensation for the value of any condemnation or taking of the fee of the PremisesTenant's leasehold estate. Lessee shall have the right to Tenant may, however, claim and recover from the condemning authority, but not from LessorLandlord, such compensation as may be separately awarded or for damages recoverable only by Lessee in Lessee’s Tenaxx, xx Tenant's own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnationright, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might Tenaxx xxxht be put in removing Lessee’s personal propertyTenaxx'x xerchandise, fixturesfurniture, leasehold trade fixtures and equipment and loss of business and improvements paid for by Tenant and equipment, including, without limitation, the Terminal Facilities, from the Premisesexpenses compensable to Tenant by statute.
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Premises should or Project (including parking areas) shall be taken for any public or quasi-public quasipublic use by a governmental authority under governmental law, ordinance or regulation, or by right the power of eminent domain, domain or by private purchase shall be conveyed to a governmental authority in lieu thereof (a “Taking”)of such taking, this Lease and if such taking or conveyance shall terminate and cause the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking remaining part of the Premises shall occurto be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If there is a Taking of less than a substantial part of the Premises, this Lease Premises or Project shall not terminate, be taken or conveyed but the Base Rent payable hereunder during the unexpired portion of remaining part is tenantable and adequate for Tenant’s use, then this Lease shall be reduced terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such extent repairs, alterations and improvements as may be fair necessary to render the part not taken or conveyed tenantable; and reasonable under all the rent shall be reduced in proportion to the part of the circumstancesPremises so taken or conveyed. In Tenant shall not have the event right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant’s leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such Takingaward. However, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right to claim and recover from the condemning governmental authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any the interruption of Tenant’s business, moving and all damage relocation expenses and depreciation to the Terminal Facilities and/or Lesseeand removal of Tenant’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, trade fixtures and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Samples: Lease Agreement (Cray Inc)
Eminent Domain. If In the whole or any substantial part, in Lessor’s discretion of event that the Premises should shall be lawfully condemned or taken for by any public authority either in their entirety or quasi-public in such proportion that they are no longer suitable for the intended use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking”)the Lessee, this Lease lease shall terminate and at the Rent shall be abated during election of Lessor or Lessee on the unexpired portion of this Lease, effective date when the physical taking either ownership or possession of the Premises shall occurbe taken by such public authority, and Lessor and Lessee hereto shall be relieved of any further obligation to each other. If there is a Taking of less than a substantial part of The Lessee shall be liable for and shall promptly pay to the Lessor any rent then in arrears. In the event the taking removes the Lessee from the Premises, this Lease the Lessor shall not terminate, but promptly rebate to the Base Rent payable hereunder during the unexpired Lessee a pro rata portion of this Lease shall be reduced to such extent as may be fair any rent paid in advance. In the event of a partial taking and reasonable under all the portion of the circumstancesPremises so condemned or taken is such that the remaining Premises are still suitable for the intended use by the Lessee, as reasonably determined by Lessor, this lease shall continue in effect in accordance with its terms and a portion of the rent shall xxxxx equal to the proportion of the rental value of the Premises so condemned to be taken. In the event of any such Takingtaking, partial or complete, the award for the property so condemned or taken shall be apportioned between the Lessor and the Lessee so that the Lessor shall receive the then value of his reversionary interest in the Premises plus the then value of the future rents due under the terms of this lease if such taking had not occurred, and the Lessee shall each be entitled to receive and retain such separate awards and/or portion the then value of lump sum awards its leasehold interest as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnationawarded, including loss of the then value of any unexpired portion mechanical installations, equipment, and appurtenances, if any, were constructed or installed by the Lessee after the beginning of the Term, term hereof and for or on account of any cost or loss are deemed not to which Lessee might be put owned by the Lessor as provided elsewhere in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesthis lease.
Appears in 1 contract
Samples: Lease Agreement (Pennichuck Corp)
Eminent Domain. a. TOTAL OR PARTIAL TAKING. If the whole or any substantial part, in Lessor’s discretion of the Demised Premises should ------------------------ shall be condemned or taken either permanently or temporarily for any public or quasi-public use or purpose, under governmental law, ordinance or regulation, any statute or by right of eminent domain, or by private purchase in lieu thereof thereof, then, in such event, the Term shall cease and terminate from the date when possession is taken thereunder pursuant to such proceeding or purchase. The Rent shall be adjusted as of the time of such termination and any Rent paid for the period thereafter shall be refunded. If a portion only of the Demised Premises or a portion of the Building containing same shall so be taken (a “Taking”even though the Demised Premises may not have been affected by the taking of some other portion of the Building containing same), Landlord may elect to terminate this Lease shall terminate from the date when possession is taken thereunder pursuant to such proceeding or purchase or Landlord may elect to repair and restore, at its own expense, the portion not taken and thereafter the Rent shall be abated during reduced proportionate to the unexpired portion of this Leasethe Demised Premises taken. If the portion taken renders the Demised Premises untenantable, effective when in the physical taking reasonable judgment of Tenant and Landlord, then Tenant may terminate the Lease by providing Landlord with written notice thereof within thirty (30) days of receipt of notice of the Premises shall occur. If there is a Taking of less than a substantial part existence and extent of the Premisestaking; whereupon the termination shall take effect on the date when possession is taken thereunder pursuant to such proceeding or purchase. Should Tenant fail to timely provide such notice, then this Lease shall not terminateremain in full force and effect, but notwithstanding the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisestaking.
Appears in 1 contract
Samples: Lease Agreement (Cdnow N2k Inc)
Eminent Domain. If during the whole term of this Lease any part of the Building and Land is taken by condemnation or any substantial partconveyed to an entity having the power to take property by condemnation under threat of such a taking, Landlord may elect to terminate this Lease by giving Tenant sixty (60) days advance written notice or to continue the Lease if the Premises will still be usable for Tenant's purpose, the Rental and Additional Rental, if any, shall be reduced in Lessor’s discretion proportion to the area of the Premises should be so taken for or conveyed and Landlord shall repair any public or quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate and the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason Premises or the Building and Land resulting from such taking. All sums awarded or agreed upon between Landlord and the condemning authority for the taking or conveyance, whether as damages or as compensation, shall be the property of Landlord only. Tenant may make its own request for compensation for the condemnation, including loss of value of any unexpired portion of the TermTenant's leasehold, moving expenses, and the improvements paid for by Tenant, provided it does not diminish or otherwise affect Landlord's recovery. If this Lease is terminated pursuant to the provisions of this Paragraph 15.4, such termination shall be effective on account and the Rental and Additional Rental, if any, shall be payable up to the date that possession is taken by the authority condemning or threatening to condemn and Landlord shall refund to Tenant any prepaid unaccrued Rental and Additional Rental, if any, less any sums then owing by Tenant to Landlord. For the purposes of any cost or loss this Section 15.4, a sale to which Lessee might an entity having the power to take property by condemnation under threat of condemnation shall constitute a vesting of title and shall be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesconstrued as a taking by such condemning authority.
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion of the Premises should or so much thereof as to render the balance unusable by Tenant shall be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right power of eminent domain, or by private purchase is sold, transferred or conveyed in lieu thereof (a “Taking”"TAKING"), this Lease shall automatically terminate and as of the Rent date of such condemnation, or as of the date possession is taken by the condemning authority, at Landlord's option. No award for any partial or entire taking shall be abated during apportioned, and Tenant hereby assigns to Landlord any award which may be made in such taking or condemnation, together with any and all rights of Tenant now or hereafter arising in or to the unexpired portion same of this Leaseany part thereof; provided, effective when however, that nothing contained herein shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award made to Tenant for the physical taking of personal property and trade fixtures belonging to Tenant and removable by Tenant at the Premises shall occur. If there is a Taking of less than a substantial part expiration of the Premisesterm hereof as provided hereunder or for the interruption of, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced or damage to such extent as may be fair and reasonable under all of the circumstancesTenant's business. In the event of any such Takinga partial taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion which does not result in a termination of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor this Lease, the rent shall be entitled apportioned according to any award and all damages payable as a result of any condemnation or taking the ratio that the part of the fee Premises remaining usable by Tenant bears to the total area of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Samples: Office Lease (Acacia Research Corp)
Eminent Domain. If the whole Building is totally taken by condemnation or any substantial part, in Lessor’s discretion of the Premises should be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate and as of the Rent date of such taking. If the Building, or such portion thereof as to render the balance (if reconstructed to the maximum extent practicable in the circumstances) physically unsuitable in the LESSEE's reasonable judgment for the LESSEE's purposes, shall be abated during taken by condemnation or right of eminent domain (including a temporary taking in excess of 180 days), the unexpired portion LESSEE or the LESSOR shall have the right to terminate this Lease by notice to the other of this Leaseits desire to do so, effective when provided that such notice is given not later than (10) days after the physical taking LESSEE has been deprived of the Premises shall occurpossession. If there is a Taking of less than a substantial Should any part of the Premises, Building be so taken or condemned or receive such damage and should this Lease shall not terminatebe terminated in accordance with the foregoing provisions, but the Base Rent payable hereunder during LESSOR shall, to the unexpired portion of this Lease shall be reduced extent condemnation proceeds are available to such extent as may be fair and reasonable under all LESSOR, promptly restore the Leased Premises to an architectural unit that is suitable to the uses of the circumstancesLESSEE permitted hereunder. In the event of any such Takinga taking described in this Paragraph 17A, Lessor the rent and Lessee shall each be entitled other charges payable hereunder, or a fair and just proportion thereof according to receive the nature and retain such separate awards and/or portion extent of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor the loss or use, shall be entitled suspended or abated. The LESSOR reserves, and the LESSEE grants to the LESSOR, all rights which the LESSEE may have for damages or injury to the Leased Premises for any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authorityby eminent domain, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all except for damage to the Terminal Facilities and/or Lessee’s business by reason of LESSEE's trade fixtures, personal property or equipment, if any, the condemnationLESSEE's right to relocation expenses, including loss of value of any unexpired portion of the Termif any, and the LESSEE's right for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal propertybusiness interruption, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesif any.
Appears in 1 contract
Samples: Lease (Rowecom Inc)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Premises should shall be taken for any public or quasi-public use by a governmental authority acting under governmental law, ordinance or regulation, or by right the power of eminent domain, domain or by private purchase shall be conveyed to a governmental authority in lieu thereof of such taking, and if such taking or conveyance shall cause the remaining part of the Premises (a “Taking”)if any) to be untenable and inadequate for use by Tenant for the purposes for which they were Lease, then Tenant, at its option, may terminate this Lease shall terminate and as of the Rent shall be abated during date Tenant is required to surrender possession of the unexpired portion of this Lease, effective when the physical taking Premises. If a part of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, be so taken or conveyed but the Base Rent payable hereunder during the unexpired portion of remaining part is rentable and adequate for Tenant's use, then this Lease shall be reduced terminated as to the part taken or conveyed as of the date Tenant surrenders possession;, Landlord shall make such extent repairs, alterations and improvements as may be fair necessary to render the part not taken or conveyed rentable; and reasonable under all the rent shall be reduced in proportion to the part of the circumstancesPremises so taken or conveyed (as measured by Landlord). In All compensation awarded for such taking or conveyance shall be the event property of Landlord without any deduction therefrom for any present or future estate of Tenant, and Tenant hereby assigns to Landlord all its rights, title and interest in and to any such Takingaward. However, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right to claim and recover from the condemning governmental authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any the interruption of Tenant's business, moving and all damage relocation expenses and depreciation to the Terminal Facilities and/or Lessee’s business by reason and removal of the condemnation, including loss of value of any unexpired portion of the Term, Tenant's trade fixtures and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Premises should be Property is taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, domain or by private purchase conveyed in lieu thereof (a “"Taking”"), and such Taking prevents Tenant from conducting its business in the Premises in a manner reasonably comparable to that conducted immediately before such taking then Landlord may, at its expense, relocate Tenant to space reasonably comparable to the Premises, provided that Landlord notifies Tenant of its intention to do so within two (2) full business days after the Taking. Such relocation shall be for the remaining Term. Landlord shall complete any such relocation within ten (10) days after Landlord has notified Tenant of its intention to relocate Tenant. If Landlord does not elect to relocate Tenant following such Taking or if Landlord fails or is otherwise incapable of relocating Tenant within such ten (10) days, then Tenant may terminate this Lease as of the date of such Taking by giving written notice to Landlord within sixty (60) days after the Taking, and Rent shall be prorated on the later of the date of such Taking or the date Tenant actually vacates the Premises. After a Taking, if Landlord does not terminate this Lease or relocate Tenant and the Tenant does not terminate this Lease, then Rent shall be abated during the unexpired on a reasonable basis as to that portion of this Lease, effective when the physical taking of the Premises shall occurwhich was necessary for Tenant's business and which was rendered untenantable by the Taking. If there is a Taking of less than a substantial part of the Premises, this Lease Rent shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in or abated for any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as which does not constitute a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the PremisesTaking.
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion all of the Premises should be 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 Tenant's purposes, for any public or quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, domain or by private purchase in lieu thereof (a “Taking”)thereof, this Lease shall terminate and at the option of either Landlord or Tenant on the date that the condemning authority actually takes possession of the part condemned. If this Lease is not so terminated, or upon a taking not within the scope of the foregoing, Total Rent shall be abated during 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 claim 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 portion term of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event of Tenant hereby assigns any such Takingclaim to Landlord. Nothing herein contained, Lessor however, shall preclude Tenant from claiming, proving and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover receiving from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to authority a separate award for the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of Tenant's personal property taken which Tenant could have rightfully removed from the Term, Premises hereunder and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal propertyrelocation and moving expenses, fixtures, leasehold improvements and equipment, including, without limitation, so long as the Terminal Facilities, from the PremisesLandlord's award is not thereby reduced.
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the floor area of the Leased Premises should hereby leased shall be taken by public authority under the power of Eminent Domain, then the term of this Lease shall cease as of the date possession shall be taken by such public authority, and the rent shall be paid up to that date with a proportionate refund by Landlord of such rent as shall have been paid in advance. In the event that as a result of any taking under the power of eminent domain the common areas and the parking area shall be reduced to less than Eighty Percent (80%) of its former area, Tenant may, at Tenant's sole election, terminate the term of this Lease by giving Landlord notice of the exercise of its election within sixty (60) days after the taking, and the termination shall be effective as of the time that possession of the part so taken shall be required for public use. Thereafter, the parties shall be relieved of all subsequent obligations under the terms of this Lease. Landlord reserves to itself, and Tenant assigns to Landlord, all rights to damages accruing on account of any taking under the power of eminent domain or by reason of any act of any public or quasi-public use under governmental law, ordinance or regulation, or by right authority for which damages are payable. Tenant agrees to execute instruments of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate and the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent assignment as may be fair and reasonable under all reasonably required by Landlord in any proceedings for the recovery of the circumstances. In the event of damages if requested by Landlord, and to turn over to Landlord any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as damages that may be allocated to their respective interests recovered in any condemnation proceedings. Lessor shall be entitled It is agreed and understood, however, that Landlord does not reserve to itself, and Tenant does not assign to Landlord, any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including for loss of value business or goodwill, depreciation to and costs of any unexpired portion removal of the Termstock and trade fixtures of Tenant and relocation of Tenant's signs, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesif any.
Appears in 1 contract
Eminent Domain. If the whole all or any substantial part, in Lessor’s discretion part of the Premises should or the Land shall be taken for any public or quasi-public use by governmental authority under governmental law, ordinance or regulation, or by right the power of eminent domain, domain or by private purchase shall be conveyed to governmental authority in lieu thereof (a “Taking”)of such taking, this Lease and if such taking or conveyance shall terminate and cause the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking remaining part of the Premises shall occuror the Land to be untenantable and inadequate for use by Tenant for the purpose leased, then Landlord may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises. If there is a Taking of less than a substantial part of the Premises, this Lease Premises or the Land shall not terminate, be so taken or conveyed but the Base Rent payable hereunder during the unexpired portion of remaining part is tenantable and adequate for Tenant's use, in Tenant's reasonable discretion, then this Lease shall be reduced terminated as to the part taken or conveyed as of the date Tenant surrenders possession. Landlord shall make such extent repairs, alterations and improvements as may be fair and reasonable under all necessary to render the part not taken or conveyed tenantable. Rent shall be reduced in proportion to the part of the circumstancesPremises so taken or conveyed. In All compensation awarded for such taking or conveyance shall be the event property of Landlord without any deduction therefrom for any present or future estate of Tenant. Tenant hereby assigns to Landlord all its right, title and interest in and to any such Takingaward. However, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right to claim and recover from the condemning governmental authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any the interruption of Tenant's business, moving and all damage relocation expenses and depreciation to the Terminal Facilities and/or Lessee’s business by reason and removal of the condemnation, including loss of value of any unexpired portion of the Term, Tenant's trade fixtures and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Samples: Standard Office/Warehouse Lease (Navarre Corp /Mn/)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Leased Premises should shall be taken for any public or quasi-public use under by a governmental law, ordinance or regulation, or by right other authority having the power of eminent domain, domain or by private purchase shall be conveyed to such authority in lieu thereof (a “Taking”)of such taking, this Lease and if such taking or conveyance shall terminate and cause the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial remaining part of the PremisesLeased Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then either Landlord or Tenant may, at their respective option, terminate this Lease as of the date Tenant is required to surrender possession of the Leased Premises by giving written notice of such termination to the other party. If a part of the Leased Premises shall not terminate, be taken or conveyed but the Base Rent payable hereunder during the unexpired portion of remaining part is tenantable and adequate for Tenant's use, then this Lease shall be reduced terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such extent repairs, alterations and improvements as may be fair necessary to render the part not taken or conveyed tenantable to the extent the condemnation award proceeds received by Landlord are sufficient therefor; and reasonable under all the rent shall be reduced in proportion to the part of the circumstancesLeased Premises so taken or conveyed. In All compensation awarded for such taking or conveyance shall be the event property of Landlord without any deduction therefrom for any present or future estate of Tenant, and Tenant hereby assigns to Landlord all its right, title and interest in and to any such Takingaward. However, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right to claim and recover from the condemning such authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of moving and relocation expenses and depreciation to and removal of Tenant's property or compensation for any and all damage to the Terminal Facilities and/or Lessee’s business improvements paid by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the PremisesTenant.
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Premises should be is taken for any public or quasi-public use appropriated under governmental law, ordinance or regulation, or by right the power of eminent domain, domain or by private purchase conveyed in lieu thereof (a “Taking”hereinafter, "Taken"), this Lease shall terminate and the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part which materially affects Tenant's occupancy of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee either party shall have the right to terminate this Lease at its option. If any part of the Property shall be Taken so as to materially affect the normal operation of the Building, Landlord may terminate this Lease at its option. In either of such events, Xxxxxxxx shall receive subject to the rights of Landlord's first mortgagee (and Tenant shall assign to Landlord upon demand from Landlord), any income, rent, award or any interest thereon which may be paid in connection therewith. Tenant shall have no claim against Landlord for any part of the sums paid by virtue of such proceedings, whether or not attributable to the value of the unexpired Term. If a part of the Premises is Taken and recover from the condemning authorityneither party elects to terminate this Lease, but the Premises have been damaged as a consequence thereof, Landlord shall restore the remaining Premises at its cost. Landlord shall not from Lessorbe required to repair or restore any damage to Tenant's property or any Alterations. Thereafter, such compensation as may the rent for the remainder of the Term shall be separately awarded proportionately reduced, based on the degree of interference with Xxxxxx's use of the Premises. If the temporary use or recoverable by Lessee in Lessee’s own right on account occupancy of any and all damage to the Terminal Facilities and/or Lessee’s business by reason part of the condemnationPremises is Taken, including loss of value this Lease shall be unaffected by such taking and Tenant shall continue to pay all rent payable hereunder; Tenant shall be entitled to receive that portion of any unexpired portion award which represents compensation for the use of or occupancy of the TermPremises, and for or on account Landlord shall be entitled to receive that portion which represents the cost of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from restoration of the Premises.
Appears in 1 contract
Eminent Domain. If the whole all or any substantial part, in Lessor’s discretion part of the Premises should be is taken for any public or quasi-public use by a governmental authority under governmental law, ordinance or regulation, or by right the power of eminent domain, domain or by private purchase is conveyed to a governmental authority in lieu thereof of such taking, and if the taking or conveyance causes the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant, at its option and by giving notice within fifteen (15) days after the taking, may terminate this Lease as of the date Tenant is required to surrender possession of the Premises. If a “Taking”)part of the Premises is taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall terminate 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; and the Rent shall be abated during reduced in proportion to the unexpired portion of this Lease, effective when the physical taking part of the Premises shall occurtaken or conveyed. If there is a Taking of less than a substantial part of All compensation awarded for the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease taking or conveyance shall be reduced the property of Landlord without any deduction therefrom for any estate of Tenant, and Tenant hereby assigns to such extent as may be fair Landlord all its right, title and reasonable under all of interest in and to the circumstancesaward. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right right, however, to claim and recover from the condemning governmental authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any the interruption of Tenant's business, moving and all damage to the Terminal Facilities and/or Lessee’s business by reason relocation expenses and removal of the condemnation, including loss of value of any unexpired portion of the Term, Tenant's trade fixtures and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Premises should shall be taken for any public or quasi-public use by a governmental authority under governmental law, ordinance or regulation, or by right the power of eminent domain, domain or by private purchase shall be conveyed to a governmental authority in lieu thereof (a “Taking”)of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease shall terminate and as of the Rent shall be abated during date Tenant is required to surrender possession of the unexpired portion of this Lease, effective when the physical taking Premises. If a part of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, be taken or conveyed but the Base Rent payable hereunder during the unexpired portion of remaining part is tenantable and adequate for Tenant’s use, then this Lease shall be reduced terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such extent repairs, alterations and improvements as may be fair necessary to render the part not taken or conveyed tenantable; and reasonable under all the rent shall be reduced in proportion to the part of the circumstancesPremises so taken or conveyed. In All compensation awarded for such taking or conveyance shall be the event property of Landlord without any deduction therefrom for any present or future estate of Tenant, and Tenant hereby assigns to Landlord all its right, title and interest in and to any such Takingaward. However, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right to claim and recover from the condemning governmental authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any the interruption of Tenant’s business, moving and all damage relocation expenses and depreciation to the Terminal Facilities and/or Lesseeand removal of Tenant’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, trade fixtures and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Samples: Lease Agreement (Vital Images Inc)
Eminent Domain. If the whole leased property, or any substantial partpart thereof, in Lessor’s discretion of the Premises should be is taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, then, at the option of either Landlord or by private purchase in lieu thereof (a “Taking”)Tenant, this Lease shall terminate expire on the date when the leased property shall be so taken and the Rent rent shall be abated during the unexpired portion apportioned as of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstancesthat date. In the event of any such Takingtaking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right at its election to claim continue to occupy all or part of the leased premises to the extent permitted by law between the date of such taking and recover the time when physical possession of the leased premises shall be taken subject to the provisions of this Lease insofar as reasonably applicable to such occupancy, but the amount charged Tenant by any such taking authority or its assigns for rent or occupancy shall be deducted from the condemning authorityrent paid or payable by Tenant hereunder. Notwithstanding the foregoing, but not from Lessornothing herein shall prohibit Tenant, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business extent permitted by reason law, from prosecuting its own claim for such damages sustained through such taking as the law may provide to Tenant in its capacity as Tenant, including compensation for moving expenses, fixtures and "special damages," so-called, so long as the same do not infringe upon or diminish the damages sought by Landlord. If Tenant shall not be entitled by law to prosecute such a claim in its own name, it may do so in, the name of Landlord. In the event that Tenant does not elect to terminate this lease pursuant to this Section following a taking of less than the entire leased premises, Landlord (acting either through the association of unit owners of the condemnation, including loss of value of any unexpired portion of the Term, and for Condominium or on account of any cost or loss its own account) shall promptly restore the remaining portion thereof so as to which Lessee might constitute an integral rental unit and the rental due hereunder shall be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesequitably abated.
Appears in 1 contract
Samples: Lease Agreement (Omtool LTD)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Leased Premises should shall be taken for any public or quasi-public use under by a governmental law, ordinance or regulation, or by right other authority having the power of eminent domain, domain or by private purchase shall be conveyed to such authority in lieu thereof (a “Taking”)of such taking, this Lease and if such taking or conveyance shall terminate and cause the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial remaining part of the PremisesLeased Premises to be unTenantable and inadequate for use by Tenant for the purpose for which they were leased, then either Landlord or Tenant may, at their respective option, terminate this Lease as of the date Tenant is required to surrender possession of the Leased Premises by giving written notice of such termination to the other party. If a part of the Leased Premises shall not terminate, be taken or conveyed but the Base Rent payable hereunder during the unexpired portion of remaining part is Tenantable and adequate for Tenant's use, then this Lease shall be reduced terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such extent repairs, alterations and improvements as may be fair necessary to render the part not taken or conveyed Tenantable to the extent the condemnation award proceeds received by Landlord are sufficient therefor; and reasonable under all the rent shall be reduced in proportion to the part of the circumstancesLeased Premises so taken or conveyed. In All compensation awarded for such taking or conveyance shall be the event property of Landlord without any deduction therefrom for any present or future estate of Tenant, and Tenant hereby assigns Landlord all its right, title and interest in and to any such Takingaward. However, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right to claim and recover from the condemning such authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any moving and all damage relocation expenses and depreciation to the Terminal Facilities and/or Lessee’s business by reason and removal of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal Tenant's property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion a material portion of the Premises should or the Project (as to render the balance unusable by Tenant as determined by Tenant in Tenant’s good faith and commercially reasonable opinion), shall be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right power of eminent domain, or by private purchase is sold, transferred or conveyed in lieu thereof (a “Taking”)thereof, this Lease shall automatically terminate and as of the Rent date of such condemnation, or as of the date possession is taken by the condemning authority, at Landlord’s option. No award for any partial or entire taking shall be abated during apportioned, and Tenant hereby assigns to Landlord any award which may be made in such taking or condemnation, together with any and all rights of Tenant now or hereafter arising in or to the unexpired portion of this Leasesame or any part thereof; provided, effective when however, that nothing contained herein shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award made to Tenant for the physical taking of personal property and trade fixtures belonging to Tenant and removable by Tenant at the Premises shall occur. If there is a Taking of less than a substantial part expiration of the PremisesTerm hereof as provided hereunder or for the interruption of, this Lease shall not terminateor damage to, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstancesTenant’s business. In the event of any such Takinga partial taking described in this Article 18, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion or a sale, transfer or conveyance in lieu thereof, which does not result in a termination of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor this Lease, the rent shall be entitled apportioned according to any award and all damages payable as a result of any condemnation or taking the ratio that the part of the fee Premises remaining useable by Tenant bears to the total area of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of Tenant hereby waives any and all damage rights it might otherwise have under law to terminate this Lease in the Terminal Facilities and/or Lessee’s business by reason event of the condemnation, including loss a taking under power of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premiseseminent domain.
Appears in 1 contract
Samples: Standard Office Lease (United Business Holdings, Inc)
Eminent Domain. If Should the Leased Premises or the building in which the Leased Premises are located, be taken. appropriated or condemned for public purposes, or voluntarily transferred in lieu of condemnation, in whole or any in such substantial part, in part as to render the building unsuitable for Lessor’s discretion purposes or the Leased Premises unsuitable for Lessee’s purposes, the Term of this Lease shall, at the option of Lessor in the first instance and at the option of Lessee in the second instance, terminate when Lessee’s right to possession is terminated If neither party exercises this option to terminate within 10 days after the dxxx of such taking, or if the portion of the Leased Premises should be taken for any public or quasi-public use under governmental lawthe building taken, ordinance appropriated, condemned or regulation, or by right of eminent domain, or by private purchase voluntarily transferred in lieu thereof (a “Taking”)of condemnation does not render the building unsuitable for lessor’s purposes or the Leased Premises unsuitable for Lessee’s purposes, then this Lease shall terminate only as to the part taken or conveyed on the date Lessee shall yield possession, and Lessor shall make such repairs and alterations as may be necessary to make the part not taken usable, and the Rent Rental payable hereunder shall be abated during reduced in proportion to the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the PremisesLeased Premises taken. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by to Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or interruption of Lessee’s business by reason of the condemnationbusiness, including loss of value of any unexpired portion of the Term, for moving and relocation expenses and for or on account depreciation to and removal of any cost or loss to which Lessee might be put in removing Lessee’s personal property, goods and trade fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.. Lessee: Lessor:
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion material part of the Premises should shall be taken for any public or quasi-public use under by a governmental law, ordinance or regulation, or by right other authority having the power of eminent domain, or by private purchase shall be conveyed to such authority in lieu thereof (a “Taking”)of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which it was leased, then Tenant may, at its option, terminate this Lease as of the date Landlord is required to surrender possession of the Premises. In such event, all Rent due under this Lease shall terminate be apportioned to and shall cease as of the date Landlord is required to surrender possession of the Premises, and Landlord and Tenant shall be released from all further obligations and liability hereunder (except for any obligations previously incurred hereunder). If a part of the Premises shall be taken or conveyed, but the remaining part is tenantable and adequate for Tenant’s use, Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable and the Rent shall be abated during equitably reduced in proportion to the unexpired portion of this Lease, effective when the physical taking part of the Premises shall occurso taken or conveyed. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease All compensation awarded for such taking or conveyance shall be reduced the property of Landlord, without any deduction therefrom for any present or future estate of Tenant, and Tenant hereby assigns to such extent as may be fair and reasonable under Landlord all of the circumstances. In the event of its right, title and interest in and to any such Takingaward. However, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right to claim and recover from the condemning such authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any moving and all damage relocation expenses and depreciation to and removal of Tenant’s Personal Property and alterations or tenant improvements, if any, installed by Tenant pursuant to the Terminal Facilities and/or Lessee’s business Lease, provided there is no diminution of the awards otherwise payable to Landlord and those holding liens on the Premises or any portion thereof by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesthereof.
Appears in 1 contract
Samples: Lease Agreement
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Premises should shall be taken for any public or quasi-public use under by governmental law, ordinance or regulation, or by right authority pursuant to its power of eminent domain, domain (or by private purchase in lieu thereof (Landlord conveys any part of the Premises pursuant to a “Taking”threat thereof), then the Premises shall be reduced in proportion to the amount so taken or conveyed, unless the amount taken shall be so great that it would be impractical for Tenant, to continue operation, in which event this Lease shall terminate be canceled and terminated as of the date of such taking. All compensation awarded for any taking of the Premises or the Property shall belong solely to and be the property of Landlord, and Tenant assigns to Landlord all of Tenant’s rights with respect hereto. However, Tenant may apply for reimbursement from the condemning authority (if permitted by law) for moving expenses, removal of Tenant’s equipment and/or trade fixtures, or loss of Tenant’s business good will, provided that any such reimbursement shall not reduce the amount of the award otherwise recoverable from the condemning authority by Landlord. If a portion of the Premises is taken and this Lease is not terminated, Landlord shall at its own expense restore the remaining portion of the Premises to a complete architectural unit, provided that (i) Landlord shall in no event be obligated to incur costs and expenses in excess of the condemnation award or proceeds actually received by Landlord and (ii) such work shall not exceed the scope of the Landlord’s Work. Furthermore, in the event of such taking, the Rent shall be abated during reduced proportionately based in the unexpired portion of this Lease, effective when the physical taking percentage of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall taken and not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable restored by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the PremisesLandlord.
Appears in 1 contract
Samples: Lease Agreement (DSW Inc.)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Premises should shall be taken for any public or quasi-public use by a governmental authority under governmental law, ordinance or regulation, or by right the power of eminent domain, domain or by private purchase shall be conveyed to a governmental authority in lieu thereof (a “Taking”)of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease shall terminate and as of the Rent shall be abated during date Tenant is required to surrender possession of the unexpired portion of this Lease, effective when the physical taking Premises. If a part of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, be taken or conveyed but the Base Rent payable hereunder during the unexpired portion of remaining part is tenantable and adequate for Tenant’s use, then this Lease shall be reduced terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such extent repairs, alterations and improvements as may be fair necessary to render the part not taken or conveyed tenantable; and reasonable under all the rent shall be reduced in proportion to the part of the circumstancesPremises so taken or conveyed. In All compensation awarded for such taking or conveyance shall be the event property of Landlord without any deduction therefrom for any present or future estate of Tenant, and Tenant hereby assigns to Landlord all its right, title and interest in and to any such Takingaward. However, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right to claim and recover from the condemning governmental authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any the interruption of Tenant’s business, moving and all damage relocation expenses and depreciation to the Terminal Facilities and/or Lesseeand removal of Tenant’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, trade fixtures and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, so long as such award does not reduce the Terminal Facilities, from the PremisesLandlord’s award.
Appears in 1 contract
Samples: Office Lease (Endocyte Inc)
Eminent Domain. If the whole all or any substantial partportion of Xxxxxxxx 0, in Lessor’s discretion of Xxxxxxxx 0, the Premises should be or the Project is taken for any public or quasi-public use by a governmental authority under the power of eminent domain or is conveyed to a governmental lawauthority in lieu of such taking (a "Taking"), ordinance and Tenant reasonably determines that the Taking causes the (remaining portion of the) Premises to be untenantable and inadequate for use by Tenant for the purpose or regulationwhich they were leased, then Tenant, at its option and by giving notice within thirty (30) days after the Taking, may terminate this Lease as of the date the portion of Xxxxxxxx 0, Xxxxxxxx 0, the Premises, or by right the Project is taken. If a portion of eminent domainthe Premises is Taken but Tenant reasonably determines that the remaining portion is tenantable and adequate for Tenant's use, then this lease shall be terminated as to the portion taken or by private purchase in lieu thereof conveyed as of the date Tenant surrenders possession; Landlord immediately shall make such repairs, alterations and improvements to the Premises (a “Taking”exclusive of any improvements, furniture, fixtures and equipment), this Lease at no expense to Tenant, as may be necessary to render the portion not taken or conveyed tenantable, provided that Landlord shall terminate have no obligation to make such repairs, alterations and improvements to the extent that Landlord shall not receive condemnation awards or proceeds for the cost thereof; and the Rent shall be abated during reduced in proportion to the unexpired portion of this Lease, effective when the physical taking of the Premises taken or conveyed. Landlord shall occur. If there is a Taking of less than a substantial part of perform the Premises, this Lease shall not terminate, but work to restore the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent Premises and Building 2 and Building 3 as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards nearly as may be allocated possible to their respective interests in any condemnation proceedingsoriginal condition (to the extent set forth above) and with minimum interference to Tenant's normal business operations. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of Notwithstanding the fee of the Premises. Lessee foregoing, Landlord shall have the right to claim terminate this Lease in the event of any Taking which results in (i) twenty-five percent (25%) or more of the Project being taken or conveyed or (ii) any lender having the right to require all awards and recover from proceeds to be applied against the condemning authorityobligations under a loan held by such lender, by notice in writing to Tenant. Tenant shall not be entitled to share in any award to Landlord, but not from Lessorshall have the right to apply, such compensation as may be separately awarded in a separate proceeding, for an award for the interruption of Tenant's business; Tenant's moving and relocation expenses; the costs and expenses of removal of Tenant's Alterations (other than those paid for by Landlord), trade fixtures and personal property (or recoverable by Lessee in Lessee’s own right on account of any and all damage the award attributable to the Terminal Facilities and/or Lessee’s business Alterations, trade fixtures or personal property to the extent Tenant does not remove them) and the depreciation in value caused by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesremoval.
Appears in 1 contract
Eminent Domain. If 23.1 In the event the whole or any substantial part, in Lessor’s discretion of the Premises should shall be taken for any public or quasi-public use under governmental law, ordinance purpose by any lawful power or regulation, or authority by exercise of the right of appropriation, condemnation or eminent domain, or by private purchase in lieu thereof (a “Taking”)sold to prevent such taking, Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority.
23.2 In the event of a partial taking of the Premises for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sold to prevent such taking, then Landlord may elect to terminate this Lease if such taking is of a material nature such as to make it uneconomical to continue use of the unappropriated portions for the purposes for which they were intended, and Tenant may elect to terminate this Lease if such taking is of material detriment to, and substantially interferes with, Tenant's use and occupancy of the Premises. In no event shall terminate this Lease be terminated when such a partial taking does not have a material adverse effect upon Landlord or Tenant or both. Termination by either party pursuant to this section shall be effective as of the date possession is required to be surrendered to said authority.
23.3 If upon any taking of the nature described in this Article 23 this Lease continues in effect, then Landlord shall promptly proceed to restore the remaining portion of the Premises, and all improvements and fixtures located thereon, to substantially their same condition prior to such partial taking; provided, however, Landlord's obligation hereunder shall be limited to the amount of the condemnation proceeds. Basic Annual Rent shall be abated during proportionately on the unexpired portion of this Lease, effective when the physical taking basis of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.rental
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Premises should shall be taken for any public or quasi-public use by a governmental authority under governmental law, ordinance or regulation, or by right the power of eminent domain, domain or by private purchase shall be conveyed to a governmental authority in lieu thereof (a “Taking”)of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease shall terminate and as of the Rent shall be abated during date Tenant is required to surrender possession of the unexpired portion of this Lease, effective when the physical taking Premises. If a part of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, be taken or conveyed but the Base Rent payable hereunder during the unexpired portion of remaining part is tenantable and adequate for Tenant's use, then this Lease shall be reduced terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such extent repairs, alterations and improvements as may be fair necessary to render the part not taken or conveyed tenantable; and reasonable under all the rent shall be reduced in proportion to the part of the circumstancesPremises so taken or conveyed. In All compensation awarded for such taking or conveyance shall be the event property of Landlord without any deduction therefrom for any present or future estate of Tenant, and Tenant hereby assigns to Landlord all its right, title and interest in and to any such Takingaward. However, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right to claim and recover from the condemning governmental authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any the interruption of Tenant's business, moving and all damage relocation expenses and depreciation to the Terminal Facilities and/or Lessee’s business by reason and removal of the condemnation, including loss of value of any unexpired portion of the Term, Tenant's trade fixtures and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Behringer Harvard Reit I Inc)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion of the Premises should or the Project or so much of the Premises or Project parking facility as to render the Premises (or the balance thereof) unusable by Tenant shall be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right power of eminent domain, or by private purchase is sold, transferred or conveyed in lieu thereof (a “Taking”)thereof, this Lease shall automatically terminate and as of the Rent date of such condemnation, or as of the date possession is taken by the condemning authority, at Landlord’s option. No award for any partial or entire taking shall be abated during apportioned and Tenant hereby assigns to Landlord any award which may be made in such taking or condemnation, together with any and all rights of Tenant now or hereafter arising in or to the unexpired portion of this Leasesame or any part thereof; provided, effective when however, that nothing contained herein shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award made to Tenant for the physical taking of personal property and trade fixtures belonging to Tenant and removable by Tenant at the Premises shall occur. If there is a Taking of less than a substantial part expiration of the PremisesTerm hereof as provided hereunder or for the interruption of, this Lease shall not terminateor damage to, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstancesTenant’s business. In the event of any such Takinga partial taking described in this Article 18, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests or a sale, transfer or conveyance in any condemnation proceedings. Lessor lieu thereof, which does not result in a termination or this Lease, the rent shall be entitled apportioned according to any award and all damages payable as a result of any condemnation or taking the ration that the part of the fee Premises remaining useable by Tenant bears to the total area of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of Tenant hereby waives any and all damage rights it might otherwise have pursuant to the Terminal Facilities and/or Lessee’s business by reason Section 1265.130 of the condemnation, including loss California Code of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the PremisesCivil Procedure.
Appears in 1 contract
Eminent Domain. If In the event that the whole or any substantial part, in Lessor’s discretion of the Leased Premises should be taken for any public or quasi-public use under governmental law, ordinance or regulation, or are condemned by right the exercise of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate as of the date on which Tenant is required by the condemnor to vacate the Leased Premises and the Rent there shall be abated during the unexpired no further liability upon Landlord or Tenant hereunder. If only a portion of this Lease, effective when the physical taking Leased Premises is condemned which renders the portion of the Leased Premises not taken unsuitable, in Tenant's reasonable judgment, for the conduct of Tenant's business, Tenant may, if it shall occur. If there so elect, terminate this Lease as of the date on which Tenant is a Taking required by Condemnor to vacate the Leased Premises by giving Landlord written notice of the exercise of such election not less than a substantial part 20 days prior to such vacation date. If, after the exercise of the Premiseseminent domain, this Lease is not terminated, Tenant shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to do such extent work as may be fair and reasonable under all reasonably necessary to restore the remainder of the circumstancesLeased Premises to tenantable condition for Tenant's uses, but shall not be required to expend for restoration more than the award received for the condemnation. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor The work shall be entitled commenced promptly after the date when Tenant is required by the Condemnor to any award vacate the premises taken and all damages payable as a result completed with due diligence, except for delays due to governmental regulations, acts of any condemnation God, unusual scarcity of or taking of the fee of the Premises. Lessee shall have the right inability to claim and recover from the condemning authorityobtain labor or materials, but not from Lessorlabor disputes, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesother causes beyond Tenant's control.
Appears in 1 contract
Eminent Domain. If (a) In the event the whole or any substantial part, in Lessor’s discretion of the Premises should be is taken or condemned for any a public or quasi-public use under governmental lawor purpose by any authority, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking”), then this Lease shall terminate when possession of the Premises is required by the taker, and the Rent Lease and the obligation to pay rent shall be abated during thereupon terminate.
(b) In the unexpired portion of this Lease, effective when the physical taking event only a part of the Premises shall occur. If there is be taken or condemned for a Taking public or quasi-public use or purpose by any authority, and as a result the balance of less than a substantial part the Premises can be used by Tenant for the continued conduct of its business in the same manner as before such taking or condemnation, Landlord shall repair and restore the Premises, this in which case the Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of . If this Lease does not terminate, the rent shall be reduced to such extent as axxxx proportionately based on the applicable rental per square foot Provided, however, Tenant may be fair terminate this Lease and reasonable under all of its obligations hereunder if the circumstances. In amount of the event of any Premises that it may reasonably use after such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking is insufficient for it to conduct its business and use the Premises as anticipated as of the fee date of this Lease.
(c) Any award, compensation, or damages shall be paid to and be the property of Landlord, except that Tenant may make a claim for the loss of the Premises. Lessee property or interests of Tenant, including the moving of Tenant” property or for the interruption of Tenant” business.
(d) Rent shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason prorated for portions of the condemnation, including loss premises that are unusable during any period of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesrestoration.
Appears in 1 contract
Samples: Lease Agreement (American Railcar Industries, Inc./De)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion of the Premises should or the Project or so much thereof as to render the balance unusable by Tenant shall be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right power of eminent domain, or by private purchase is sold, transferred or conveyed in lieu thereof (a “Taking”)thereof, this Lease shall automatically terminate and as of the Rent date of such condemnation, or as of the date possession is taken by the condemning authority, at Landlord's option. No award for any partial or entire taking shall be abated during apportioned, and Tenant hereby assigns to Landlord any award which may be made in such taking or condemnation, together with any and all rights of Tenant now or hereafter arising in or to the unexpired portion of this Leasesame or any part thereof; provided, effective when however, that nothing contained herein shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award made to Tenant for the physical taking of personal property and trade fixtures belonging to Tenant and removable by Tenant at the Premises shall occur. If there is a Taking of less than a substantial part expiration of the PremisesTerm hereof as provided hereunder or for the interruption of, this Lease shall not terminateor damage to, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstancesTenant's business. In the event of any such Takinga partial taking described in this Section 18, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion or a sale, transfer or conveyance in lieu thereof, which does not result in a termination of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor this Lease, the Basic Rental shall be entitled apportioned according to any award and all damages payable as a result of any condemnation or taking the ratio that the part of the fee Premises remaining useable by Tenant bears to the total area of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of Tenant hereby waives any and all damage rights it might otherwise have under law to terminate this Lease in the Terminal Facilities and/or Lessee’s business by reason event of the condemnation, including loss a taking under power of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premiseseminent domain.
Appears in 1 contract
Samples: Office Lease (Ecotality, Inc.)
Eminent Domain. If a part of the whole Project is taken by eminent domain or deed in lieu thereof which is so substantial that the Building cannot reasonably be used by Subtenant for the operation of its business, then either party may terminate this Sublease effective as of the date of the taking. Rent shall xxxxx from the date of the taking in proportion to any substantial part, in Lessor’s discretion part of the Premises should be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate and the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occurtaken. If there is a Taking temporary taking of less than a substantial part of the PremisesProject which is so substantial that the Building cannot reasonably be used by Subtenant for the operation of its business, this Lease then Rent shall not terminatexxxxx from the date of the taking in proportion to any part of the Premises taken. The entire award for a taking of any kind shall be paid to Landlord, but and Subtenant shall have no right to share in the Base Rent payable hereunder during award, except (i) for the unexpired portion of this Lease any award based on the value of the Tenant Improvements financed by Subtenant in excess of the Tenant Improvement Allowance; provided, however, that nothing contained herein shall be reduced deemed to such extent as may be fair give Landlord or Sublandlord any interest in or require Subtenant to assign to Landlord or Sublandlord any separate award made to Subtenant for the taking of Subtenant's personal property and reasonable under all of the circumstances. In trade fixtures, or its relocation costs, and (ii) in the event of any such Takinga temporary taking in which there was no Rent abatement under this Sublease, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor then Subtenant shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and award which was intended to compensate Sublandlord for or on account lost rent during the period of any cost or loss the temporary taking. All obligations accrued to which Lessee might the date of the taking shall be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesperformed by each party.
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion of the Premises should or the Project or so much thereof as to render the balance unusable by Tenant shall be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right power of eminent domain, or by private purchase is sold, transferred or conveyed in lieu thereof (a “Taking”)thereof, this Lease shall automatically terminate and as of the Rent date of such condemnation, or as of the date possession is taken by the condemning authority, at Landlord’s option. No award for any partial or entire taking shall be abated during apportioned, and Tenant hereby assigns to Landlord any award which may be made in such taking or condemnation, together with any and all rights of Tenant now or hereafter arising in or to the unexpired portion of this Leasesame or any part thereof; provided, effective when however, that nothing contained herein shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award made to Tenant for the physical taking of personal property and trade fixtures belonging to Tenant and removable by Tenant at the Premises shall occur. If there is a Taking of less than a substantial part expiration of the PremisesTerm hereof as provided hereunder or for the interruption of, this Lease shall not terminateor damage to, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstancesTenant’s business. In the event of any such Takinga partial taking described in this Section 18, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion or a sale, transfer or conveyance in lieu thereof, which does not result in a termination of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor this Lease, the Basic Rental shall be entitled apportioned according to any award and all damages payable as a result of any condemnation or taking the ratio that the part of the fee Premises remaining useable by Tenant bears to the total area of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of Tenant hereby waives any and all damage rights it might otherwise have under law to terminate this Lease in the Terminal Facilities and/or Lessee’s business by reason event of the condemnation, including loss a taking under power of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premiseseminent domain.
Appears in 1 contract
Samples: Office Lease (ASC Acquisition LLC)
Eminent Domain. If the whole or any substantial part, in LessorLessee’s discretion use of the Premises should be taken for is materially affected due to the taking by eminent domain of (a) the Premises or any public part thereof or quasi-public use under governmental lawany estate therein; or (b) any other part of the Building; then, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking”)either event, this Lease shall terminate on the date when title vests pursuant to such taking. The Fixed Basic Rent, and the Rent any Additional Rent, shall be abated during the unexpired portion apportioned as of this Leasesaid termination date and any Fixed Basic Rent or Additional Rent paid for any period beyond said date, effective when the physical taking of the Premises shall occurbe repaid to Lessee. If there is a Taking of less than a substantial Lessee shall not be entitled to any part of the Premises, this Lease shall not terminateaward for such taking or any payment in lieu thereof, but Lessee may file a separate claim for any taking of fixtures and improvements owned by Lessee which have not become the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair Lessor’s property, and reasonable under all of the circumstancesfor moving expenses. In the event of any such Takinga partial taking which does not effect a termination of this Lease but does deprive Lessee of the use of a portion of the Premises, Lessor there shall either be an abatement or an equitable reduction of the Fixed Basic Rent, and an equitable adjustment reducing the Base Period Costs as hereinafter defined depending on the period for which and the extent to which the Premises so taken are not reasonably usable for the purpose for which they are leased hereunder. Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall not be entitled to any award and all damages payable as a result of any condemnation or taking part of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authorityaward for such taking or any payment in lieu thereof, but not from Lessor, such compensation as Lessee may be separately awarded or recoverable file a separate claim solely for the unamortized value of fixtures and improvements owned by Lessee in Lesseewhich have not become the Lessor’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Termproperty, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesmoving expenses.
Appears in 1 contract
Samples: Lease Agreement (Tollgrade Communications Inc \Pa\)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion more than fifty percent (50%) of the Demised Premises should (or use or occupancy of the Demised Premises) shall be taken or condemned by an governmental or quasi-govemmental authority for any public or quasi-public use or purpose (including sale under governmental law, ordinance or regulationthreat of such a taking), or if the owner elects to convey title to the condemnor by right a deed in lieu of eminent domaincondemnation, or by private purchase if all or any portion of the Land or Building are so taken, condemned or conveyed and as a result thereof, in lieu thereof (a “Taking”)Landlord’s judgement, the Demised Premises cannot be used for Tenant’s permitted use as set forth herein, then this Lease shall cease and terminate as of the date when title vests in such governmental or quasi-governmental authority and the Fixed Rent and Additional Rent shall be abated during on the unexpired date when such title vests in such governmental or quasi-governmental authority. If less than fifty percent (50%) of the Demised Premises is taken or condemned by any governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking), the Fixed Rent and Tenant’s proportionate share shall be equitably adjusted )on the basis of the number of square feet before and after such event) on the date when title vests in such governmental or quasi-governmental authority and the Lease shall otherwise continue in full force and effect. In any case, Tenant shall have no claim against Landlord for any portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as amount that may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards awarded as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any governmental or quasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all rights of the fee of the PremisesTenant to damages therefor are hereby assigned by Tenant to Landlord. Lessee The foregoing shall have the right to claim and recover from the condemning authoritynot, but not from Lessorhowever, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account deprive Tenant of any and all damage separate award for moving expenses, dislocation damages or for any other award which would not reduce the award payable to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the PremisesLandlord.
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Premises should shall be taken for any public or quasi-public use by a governmental authority under governmental law, ordinance or regulation, or by right the power of eminent domain, domain or by private purchase shall be conveyed to a governmental authority in lieu thereof (a “Taking”)of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease shall terminate and as of the Rent shall be abated during date Tenant is required to surrender possession of the unexpired portion of this Lease, effective when the physical taking Premises. If a part of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, be taken or conveyed but the Base Rent payable hereunder during the unexpired portion of remaining part is tenantable and adequate for Tenant's use, then this Lease shall be reduced terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such extent repairs, alterations and improvements as may be fair necessary to render the part not taken or conveyed tenantable; and reasonable under all the rent shall he reduced in proportion to the part of the circumstances. In Premises so taken or conveyed, All compensation awarded for such taking or conveyance shall be the event property of Landlord without any deduction therefrom for any present or future estate of Tenant, and Tenant hereby assigns to Landlord all its right, title and interest in and to any such Takingaward. However, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right to claim and recover from the condemning governmental authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any the interruption of Tenant's business, moving and all damage relocation expenses and depreciation to the Terminal Facilities and/or Lessee’s business by reason and removal of the condemnation, including loss of value of any unexpired portion of the Term, Tenant's trade fixtures and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Samples: Lease (Early Detect)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Leased Premises should shall be taken for any public or quasi-public use under by a governmental law, ordinance or regulation, or by right other authority having the power of eminent domain, domain or by private purchase shall be conveyed to such authority in lieu thereof (a “Taking”)of such taking, this Lease and if such taking or conveyance shall terminate and cause the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial remaining part of the PremisesLeased Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease Lease. If a part of the Leased Premises shall not terminate, be taken or conveyed but the Base Rent payable hereunder during remaining part is tenantable and adequate (conforms to other leased space in the unexpired portion of Building) for Tenant's use, then this Lease shall be reduced terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such extent repairs, alterations and improvements as may be fair and reasonable under all necessary to render the part not taken or conveyed tenantable, the cost of which will not exceed what is customary for tenant finish costs in other space in the Building. The rent shall be reduced in proportion to the part of the circumstancesLeased Premises so taken or conveyed. In All compensation awarded for such taking or conveyance shall be the event property of Landlord without any deduction therefrom for any present or future estate of Tenant, and Tenant hereby assigns to Landlord all its right, title and interest in and to any such Takingaward. Notwithstanding the foregoing, Lessor and Lessee nothing contained herein shall each be entitled to receive and retain such prevent Tenant from seeking in a separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover action reimbursement from the condemning authorityauthority (if permitted by law) for moving expenses, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account expenses for removal of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s Tenant's personal property, fixturesor loss of Tenant's business good will, leasehold improvements but if and equipment, including, without limitation, only if such action shall not reduce the Terminal Facilities, amount of the award or other compensation otherwise recoverable from the Premisescondemning authority by Landlord or any mortgagee.
Appears in 1 contract
Samples: Lease Agreement (NHP Inc)
Eminent Domain. If the whole Premises are taken or condemned, or -------------- purchased in lieu thereof, by any substantial part, in Lessor’s discretion of the Premises should be taken government authority for any public or quasi-public use under governmental lawor purpose, ordinance then, this Lease will terminate from the time when the possession is required for such use or regulationpurpose. The Rent will be apportioned to the date when the possession is required. If a part of the Premises are taken, Landlord will notify Tenant in writing, and Tenant will have the option to cancel this Lease, by giving Landlord written notice within twenty (20) days after receipt of such notice from Landlord; provided Tenant cannot suitably use the balance of the Premises for its purposes. If Tenant exercises said option, then cancellation will be effective and the Rent will be apportioned to the date when the possession is required. If Tenant is not entitled to cancel the Lease or, if it is entitled to do so, but does not exercise its option, as of the date when possession is required, the Rent will be reduced in the proportion that the Net Rentable Area contained in the remaining Premises bears to the Net Rentable Area contained in the Premises before the taking. Any award of proceeds resulting from a condemnation or by right of eminent domain, or by private purchase sale in lieu thereof (a “Taking”), this Lease shall terminate of the whole or part of the Premises will belong solely to Landlord and Tenant hereby waives any right to make any claim therefor as the Rent shall be abated during the unexpired portion result of this Lease. Provided, effective when the physical taking of the Premises shall occur. If there however, that Landlord is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award specifically made to Tenant for relocation expenses and all damages payable as a result of any condemnation or the taking of Tenant's fixtures, furniture or leasehold improvements (exclusive of that portion paid for by Landlord), less depreciation computed from the fee date of said improvements to the expiration of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account original term of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesthis Lease.
Appears in 1 contract
Samples: Lease of Office Space (Diversified Corporate Resources Inc)
Eminent Domain. If the whole Building is totally taken by condemnation or any substantial part, in Lessor’s discretion of the Premises should be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate and as of the Rent date of such taking. If the Building, or such portion thereof as to render the balance (if reconstructed to the maximum extent practicable in the circumstances) physically unsuitable in the LESSEE'S reasonable judgment for the LESSEE'S purposes, shall be abated during taken by condemnation or right of eminent domain (including a temporary taking in excess of 180 days), the unexpired portion LESSEE or the LESSOR shall have the right to terminate this Lease by notice to the other of this Leaseits desire to do so, effective when provided that such notice is given not later than ten (10) days after the physical taking LESSEE has been deprived of the Premises shall occurpossession. If there is a Taking of less than a substantial Should any part of the Premises, Building be so taken or condemned or receive such damage and should this Lease shall not terminatebe terminated in accordance with the foregoing provisions, but the Base Rent payable hereunder during LESSOR shall, to the unexpired portion of this Lease shall be reduced extent condemnation proceeds are available to such extent as may be fair and reasonable under all LESSOR, promptly restore the Leased Premises to an architectural unit that is suitable to the uses of the circumstancesLESSEE permitted hereunder. In the event of any such Takinga taking described in this Paragraph 17A, Lessor the rent and Lessee shall each be entitled other charges payable hereunder, or a fair and just proportion thereof according to receive the nature and retain such separate awards and/or portion extent of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor the loss of use shall be entitled suspended or abated. The LESSOR reserves, and the LESSEE grants to the LESSOR, all rights which the LESSEE may have for damages or injury to the Leased Premises for any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authorityby eminent domain, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all except for damage to the Terminal Facilities and/or Lessee’s business by reason of LESSEE'S trade fixtures, personal property or equipment, if any, the condemnationLESSEE'S right to relocation expenses, including loss of value of any unexpired portion of the Termif any, and the LESSEE'S right for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal propertybusiness interruption, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesif any.
Appears in 1 contract
Samples: Sublease (Interliant Inc)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Leased Premises should shall be taken for any public or quasi-public use under by a governmental law, ordinance or regulation, or by right other authority having the power of eminent domain, domain or by private purchase shall be conveyed to such authority in lieu thereof (a “Taking”)of such taking, this Lease and if such taking or conveyance shall terminate and cause the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial remaining part of the PremisesLeased Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease Lease. If a part of the Leased Premises shall not terminate, be taken or conveyed but the Base Rent payable hereunder during the unexpired portion of remaining part is tenantable and adequate for Tenant's use, then this Lease shall be reduced terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such extent repairs, alterations and improvements as may be fair necessary to render the part not taken or conveyed tenantable; and reasonable under all the rent shall be reduced in proportion to the part of the circumstancesLeased Premises so taken or conveyed. In All compensation awarded for such taking or conveyance shall be the event property of Landlord without any deduction therefrom for any present or future estate of Tenant, and Tenant hereby assigns to Landlord all its right, title and interest in and to any such Takingaward, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to provided, however, that any award and all damages payable as a result made to Tenant with respect to its relocation expenses shall remain the property of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the PremisesTenant.
Appears in 1 contract
Samples: Lease Agreement (Amsurg Corp)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion a material portion of the Premises should shall be taken or condemned by a governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under governmental law, ordinance or regulationthreat of such a taking), or if the owner elects to convey title to the condemner by right a deed in lieu of eminent domaincondemnation, or by private purchase if all or any portion of the Property are so taken, condemned or conveyed and as a result thereof, in lieu thereof (a “Taking”)Landlord’s reasonable judgment, the Premises cannot be used for Tenant’s Permitted Use as set forth herein, then this Lease shall cease and terminate as of the date when title vests in such governmental or quasi-governmental authority and the Base Rent and Additional Rent shall be abated during on the unexpired date when such title vests in such governmental or quasi-governmental authority. If less than a material portion of this Lease, effective when the physical taking of the Premises shall occur. If there is be taken or condemned by a Taking governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of less than such a substantial part of taking), Base Rent and Additional Rent shall be equitably abated on the Premises, date when such title vests in such governmental or quasi-governmental authority and this Lease shall not terminateotherwise continue in full force and effect. In any case, but the Base Rent payable hereunder during the unexpired Tenant shall have no claim against Landlord for any portion of this Lease shall be reduced to such extent as the amount that may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards awarded as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any governmental or quasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all rights of Tenant to damages therefor are hereby assigned by Tenant to Landlord. The foregoing shall not, however, deprive Tenant of any separate award for moving expenses, dislocation damages or for any other award which would not reduce the fee award payable to Landlord. As used herein, “material portion of the Premises. Lessee ” shall have mean such amount that, in Landlord’s reasonable judgment, would render the right to claim and recover from Premises untenantable for the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the PremisesPermitted Use.
Appears in 1 contract
Samples: Lease (Flywire Corp)
Eminent Domain. (a) If all the whole or any substantial part, in Lessor’s discretion of the Premises should be Land is taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking”)Condemnation, this Lease shall terminates immediately on the effective date of the Condemnation.
(b) If there is a partial Condemnation of the Land, Tenant or Landlord may terminate this Lease by notice to the other if Landlord and Tenant agree that the Rent shall be abated during remaining Land is not adequate for the unexpired conduct of Tenant’s business.
(c) If Landlord or Tenant does not terminate this Lease, Landlord will proceed with due diligence to make all necessary renovations and repairs to the remaining Land to restore the same to as near as practicable to the condition that it was in prior to the partial Condemnation. If Landlord or Tenant does not terminate this Lease, Tenant will remain in possession of the portion of the Land not taken on the same terms of this Lease, effective when except that all Rent must be reduced in direct proportion to the physical taking area of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable Land taken as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim Condemnation.
(d) All awards, compensations, damages and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right insurance payments on account of any Condemnation are herein collectively called “Compensation.”
(e) Landlord may appear in any such proceeding or action to negotiate, prosecute and all damage adjust any claim for any Compensation, and Landlord will collect any such Compensation.
(f) Notwithstanding anything to the Terminal Facilities and/or Lessee’s contrary contained in this Article, if permissible under Legal Requirements, Tenant may pursue a separate award for its moving and relocation expenses, anticipated loss of business profits, loss of goodwill or fixtures and equipment paid for by reason Tenant and which are not part of the condemnation, including loss of value of any unexpired portion of the TermLand, and for or on account of Tenant may retain any cost or loss to such award, which Lessee might will not be put included in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the PremisesCompensation.
Appears in 1 contract
Samples: Asset Purchase Agreement
Eminent Domain. If the whole Building is totally taken by -------------- condemnation or any substantial part, in Lessor’s discretion of the Premises should be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate and as of the Rent date of such taking. If the Building, or such portion thereof as to render the balance (if reconstructed to the maximum extent practicable in the circumstances) physically unsuitable in the LESSEE's reasonable judgment for the LESSEE's purposes, shall be abated during taken by condemnation or right of eminent domain (including a temporary taking in excess of 180 days), the unexpired portion LESSEE or the LESSOR shall have the right to terminate this Lease by notice to the other of this Leaseits desire to do so, effective when provided that such notice is given not later than ten (10) days after the physical taking LESSEE has been deprived of the Premises shall occurpossession. If there is a Taking of less than a substantial Should any part of the Premises, Building be so taken or condemned or receive such damage and should this Lease shall not terminatebe terminated in accordance with the foregoing provisions, but the Base Rent payable hereunder during LESSOR shall, to the unexpired portion of this Lease shall be reduced extent condemnation proceeds are available to such extent as may be fair and reasonable under all LESSOR, promptly restore the Leased Premises to an architectural unit that is suitable to the uses of the circumstancesLESSEE permitted hereunder. In the event of any such Takinga taking described in this Paragraph 17A, Lessor the rent and Lessee shall each be entitled other charges payable hereunder, or a fair and just proportion thereof according to receive the nature and retain such separate awards and/or portion extent of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor the loss of use shall be entitled suspended or abated. The LESSOR reserves, and the LESSEE grants to the LESSOR, all rights which the LESSEE may have for damages or injury to the Leased Premises for any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authorityby eminent domain, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all except for damage to the Terminal Facilities and/or Lessee’s business by reason of LESSEE's trade fixtures, personal property or equipment, if any, the condemnationLESSEE's right to relocation expenses, including loss of value of any unexpired portion of the Termif any, and the LESSEE's right for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal propertybusiness interruption, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesif any.
Appears in 1 contract
Samples: Lease (Call Points Inc)
Eminent Domain. If the whole Premises, or any substantial partso much thereof as to render the -------------- balance unusable for the Permitted Use, in Lessor’s discretion of the Premises should shall be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right power of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall automatically terminate and the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking as of the Premises shall occur. If there is a Taking of less than a substantial part later of the Premisesdate of such condemnation, this Lease shall not terminateor the date possession is taken by the condemning authority, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent or as may be fair and reasonable under all of the circumstancesotherwise herein provided. In the event of any such Takinga partial taking, Lessor and Lessee shall each be entitled Tenant, at its sole discretion, may elect to receive and retain such separate awards and/or continue its occupancy in the remaining portion of lump sum awards as the Premises and Base Rent will be proportionately adjusted. Landlord will retain any award which may be allocated made in such taking or condemnation as such relates to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authorityBuilding including, but not from Lessorlimited to, such compensation as may be separately awarded or recoverable by Lessee all fee, leasehold and easement estates in Lessee’s own right on account of the land upon which the Building and the Premises is located. Tenant will receive any and all damage awards as such relate to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including Tenant's loss of value of any unexpired portion of the Termbusiness, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal propertyTenant's furniture, fixtures, leasehold improvements fixtures and equipment, including, without limitation, the Terminal Facilities, from Tenant's improvements to the Premises, and other items as such related to Tenant. In the event of a partial taking which does not result in a termination of this Lease, Base Rent shall be proportionately adjusted. Landlord may without any obligation or liability to Tenant stipulate with any condemning authority for a judgment of condemnation, and the date of taking under this clause shall then be deemed the date agreed to under the terms of said stipulation.
Appears in 1 contract
Eminent Domain. 14.1 If the whole all or any substantial part, in Lessor’s discretion substantially all of the Premises should shall be taken for or appropriated by any public or quasi-public use authority under governmental law, ordinance or regulation, or by right the power of eminent domaindomain (or similar law authorizing the involuntary taking of private property, or by private purchase which shall include a sale in lieu thereof (to a “Taking”public body), either party hereto shall have the right, at its option, to terminate this Lease shall terminate and the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking as of the Premises shall occur. If there date possession is a Taking of less than a substantial part of the Premisestaken by said authority, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor Landlord shall be entitled to any and all income, rent, award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as interest thereon whatsoever which may be separately awarded paid or recoverable by Lessee made in Lessee’s own right on account of connection with such public or quasi-public use or purpose. Tenant hereby assigns to Landlord its entire interest in any and all damage to such awards, and shall have no claim against Landlord for the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired term of this Lease, provided however, that if an award is made for Tenant's Trade Fixtures that have become part of the realty and which Tenant has a right to remove as provided in this Lease but elects not to remove, Tenant shall receive the am ount so awarded.
14.2 If only a portion of the TermPremises is taken, then this Lease shall continue in full force and effect and the proceeds of the award shall be used by Landlord to restore the remainder of the improvements on the Premises so far as practicable to a complete unit of like quality and condition to that which existed immediately prior to the taking, and the Minimum Rent shall be reduced in proportion to the floor area of the Premises taken. Landlord's restoration work shall not exceed the scope of work done by Landlord in originally constructing the Premises and the cost of such work shall not exceed the amount of the award received by Landlord.
14.3 Nothing hereinbefore contained shall be deemed to deny to Tenant its right to claim from the condemning authority compensation or damages for or on account of any cost or loss to which Lessee might be put in removing Lessee’s its trade fixtures and personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Samples: Retail Lease (MCB Financial Corp)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion of the Premises should or so much thereof as to render the balance unusable by Tenant shall be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right power of eminent domain, or by private purchase is sold, transferred or conveyed in lieu thereof (a “Takingtaking”), this Lease shall automatically terminate and as of the Rent date of such condemnation, or as of the date possession is taken by the condemning authority, at Landlord’s option. No award for any partial or entire taking shall be abated during apportioned, and Tenant hereby assigns to Landlord any award which may be made in such taking or condemnation, together with any and all rights of Tenant now or hereafter arising in or to the unexpired portion same of this Leaseany part thereof; provided, effective when however, that nothing contained herein shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award made to Tenant for the physical taking of personal property and trade fixtures belonging to Tenant and removable by Tenant at the Premises shall occur. If there is a Taking of less than a substantial part expiration of the Premisesterm hereof as provided hereunder or for the interruption of, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced or damage to such extent as may be fair and reasonable under all of the circumstancesTenant’s business. In the event of any such Takinga partial taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion which does not result in a termination of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor this Lease, the rent shall be entitled apportioned according to any award and all damages payable as a result of any condemnation or taking the ratio that the part of the fee Premises remaining usable by Tenant bears to the total area of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Eminent Domain. If the whole all or any substantial part, in Lessor’s discretion part of the Premises should be is taken for any public or quasi-public use by a governmental authority under governmental law, ordinance or regulation, or by right the power of eminent domain, domain or by private purchase is conveyed to a governmental authority in lieu thereof of such taking, and if the taking of conveyance causes the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant, at its option and by giving notice within fifteen (15) days after the taking, may terminate this Lease as of the date Tenant is required to surrender possession of the Premises. If a “Taking”)part of the Premises is taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall terminate 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; and the Rent shall be abated during reduced in proportion to the unexpired portion of this Lease, effective when the physical taking part of the Premises shall occurtaken or conveyed. If there is a Taking of less than a substantial part of All compensation awarded for the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease taking or conveyance shall be reduced the property of Landlord without any deduction therefrom for any estate of Tenant, and Tenant hereby assigns to such extent as may be fair Landlord all its right, title and reasonable under all of interest in and to the circumstancesaward. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right right, however, to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.the
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion Lessee's use of the Premises should be taken for is materially affected due to the taking by eminent domain of (a) the Premises or any public part thereof or quasi-public use under governmental lawany estate therein; or (b) any other part of the Building; then, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking”)either event, this Lease shall terminate on the date when title vests pursuant to such taking. The Fixed Basic Rent, and the Rent any Additional Rent, shall be abated during the unexpired portion apportioned as of this Leasesaid termination date and any Fixed Basic Rent or Additional Rent paid for any period beyond said date, effective when the physical taking of the Premises shall occurbe repaid to Lessee. If there is a Taking of less than a substantial Lessee shall not be entitled to any part of the Premisesaward for such taking or any payment in lieu thereof, this Lease shall not terminateand Lessee hereby assigns to Lessor any and all right, title and interest of Lessee now or hereafter arising in or to any such award or any part thereof and hereby waives all rights against Lessor and the condemning authority, but Lessee may file a separate claim for any taking of fixtures and improvements owned by Lessee which have not become the Base Rent payable hereunder during Lessor's property, and for moving expenses, provided the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstancessame shall, in no way, affect or diminish Lessor's award. In the event of any such Taking, Lessor and a partial taking which does not effect a termination of this Lease but does deprive Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee use of a portion of the Premises. Lessee , there shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may either be separately awarded an abatement or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason an equitable reduction of the condemnation, including loss of value of any unexpired portion of the TermFixed Basic Rent, and an equitable adjustment reducing the Base Period Costs as hereinafter defined depending on the period for or on account of any cost or loss which and the extent to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from Premises so taken are not reasonably usable for the Premisespurpose for which they are leased hereunder.
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Premises should Premises, Building or Common Areas shall be taken for any public or quasi-public use under by a governmental law, ordinance or regulation, or by right other authority having the power of eminent domain, domain or by private purchase shall be conveyed to such authority in lieu thereof (a “Taking”)of such taking, and if such taking or conveyance shall cause the Premises or the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then either Landlord or Tenant may, at its option, terminate this Lease shall terminate and as of the Rent shall be abated during date of surrender of possession by giving written notice of such termination to the unexpired portion of this Lease, effective when the physical taking other party. If a part of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, be taken or conveyed but the Base Rent payable hereunder during the unexpired portion of Lease is not terminated, then this Lease shall be reduced terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such extent repairs, alterations and improvements as may be fair necessary to render tenantable, and, to the extent possible, comparable, the part not taken or conveyed; and reasonable under the rent shall be reduced in proportion to the part of the Premises taken or conveyed. If part of the Building or Common Areas is taken and this Lease is not terminated, Landlord shall make such repairs, alterations and improvements as shall be necessary to render the Building and the Common Areas as comparable to their condition prior to the taking as possible. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant, and Tenant hereby assigns to Landlord all of the circumstances. In the event of its right, title and interest in and to any such Takingaward. However, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right to claim and recover from the condemning such authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any moving and all damage relocation expenses and depreciation to the Terminal Facilities and/or Lessee’s business by reason and removal of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal Tenant's property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Samples: Lease Agreement (Quality Dining Inc)
Eminent Domain. If the whole all or any substantial part, in Lessor’s discretion substantially all of the Premises should be is taken for any by a public or quasi-public use under governmental law, ordinance or regulation, or by right authority pursuant to the exercise of the power of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate and on the Rent shall date on which the condemning authority takes possession of the Premises (“Date of Such Taking”). If part of the Premises is taken such that, in Tenant’s opinion, the Premises cannot be abated during restored to an economically viable condition, or if the unexpired portion holder of any mortgage encumbering the Premises requires application of the condemnation proceeds to the reduction of the mortgage indebtedness, either Landlord or Tenant may terminate this Lease upon thirty (30) days prior written notice to the other. Upon a partial taking which does not result in a termination of this Lease, effective when .
(i) rent shall be adjusted to reflect the physical taking reduced amount of rentable area in the Premises Building; and (ii) Landlord shall occur. If there is a Taking of less than a substantial part of restore the Premises, this Lease but only to the extent of funds available to Landlord from the consideration paid for such taking. Landlord shall not terminatebe obligated to replace or restore any improvements or alterations to the Premises made by or on behalf of Tenant, but the Base Rent payable hereunder during the unexpired portion or any of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstancesTenant’s leasehold improvements, personal property, furniture, fixtures or equipment. In the event of Upon any such Takingtaking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor Landlord shall be entitled to any award resulting damages, awards or any interest therein, and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have no claim for the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion Term of the TermLease or otherwise. Tenant may independently claim for the value of its furniture, fixtures and for equipment or on account of any cost or loss to which Lessee might be put in removing Lesseemoving expenses, provided that such claim shall not diminish Landlord’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesclaim.
Appears in 1 contract
Eminent Domain. If the whole Building is totally taken by condemnation or any substantial part, in Lessor’s discretion of the Premises should be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by -------------- right of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate and as of the Rent date of such taking. If the Building, or such portion thereof as to render the balance (if reconstructed to the maximum extent practicable in the circumstances) physically unsuitable in the LESSEE's reasonable judgment for the LESSEE's purposes, shall be abated during taken by condemnation or right of eminent domain (including a temporary taking in excess of 180 days), the unexpired portion LESSEE or the LESSOR shall have the right to terminate this Lease by notice to the other of this Leaseits desire to do so, effective when provided that such notice is given not later than ten (10) days after the physical taking LESSEE has been deprived of the Premises shall occurpossession. If there is a Taking of less than a substantial Should any part of the Premises, Building be so taken or condemned or receive such damage and should this Lease shall not terminatebe terminated in accordance with the foregoing provisions, but the Base Rent payable hereunder during LESSOR shall, to the unexpired portion of this Lease shall be reduced extent condemnation proceeds are available to such extent as may be fair and reasonable under all of LESSOR, promptly restore the circumstancesLeased Premises to an architectural unit that is suitable to the uses to the LESSEE permitted hereunder. In the event of any such Takinga taking described in this Paragraph 17A, Lessor the rent, additional rent, and Lessee shall each be entitled other charges payable hereunder, or a fair and just proportion thereof according to receive the nature and retain such separate awards and/or portion extent of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor the loss of use, shall be entitled suspended or abated. The LESSOR reserves, and the LESSEE grants to the LESSOR, all rights which the LESSEE may have for damages or injury to the Leased Premises for any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authorityby eminent domain, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all except for damage to the Terminal Facilities and/or Lessee’s business by reason of LESSEE's trade fixtures, personal property or equipment, if any, the condemnationLESSEE's right to relocation expenses, including loss of value of any unexpired portion of the Termif any, and the LESSEE's right for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal propertybusiness interruption, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesif any.
Appears in 1 contract
Samples: Lease (Giga Information Group Inc)
Eminent Domain. If the whole all or any substantial part, in Lessor’s discretion part of the Premises should be is taken for any public or quasi-public use by a governmental authority under governmental law, ordinance or regulation, or by right the power of eminent domain, domain or by private purchase is conveyed to a governmental authority in lieu thereof of such taking, and if the taking or conveyance causes the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant, at its option and by giving notice within fifteen (15) days after the taking, may terminate this Lease as of the date Tenant is required to surrender possession of the Premises. If a “Taking”)part of the Premises is taken or convoyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall terminate 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; and the Rent shall be abated during reduced in proportion to the unexpired portion of this Lease, effective when the physical taking part of the Premises shall occurtaken or conveyed. If there is a Taking of less than a substantial part of All compensation awarded for the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease taking or conveyance shall be reduced the property of Landlord without any deduction therefrom for any estate of Tenant, and Tenant hereby assigns to such extent as may be fair Landlord all its right, title and reasonable under all of interest in and to the circumstancesaward. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right right, however, to claim and recover from the condemning governmental authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of (i) the then unamortized cost of any and all damage to alterations paid for by Tenant; (ii) the Terminal Facilities and/or Lessee’s business by reason value of the condemnation, including Tenant's trade fixtures; (iii) Tenant's loss of value goodwill (so long as such award does not reduce any award to Landlord); (iv) Tenant's relocation costs and (v) Tenant's loss of any unexpired portion of the Term, business and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesbusiness interruption.
Appears in 1 contract
Samples: Sub Sublease (Computer Literacy Inc)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Premises should be is taken for any public or quasi-public use appropriated under governmental law, ordinance or regulation, or by right the power of eminent domain, domain or by private purchase conveyed in lieu thereof (a hereinafter, “TakingTaken”), this Lease shall terminate and the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part which materially affects Tenant’s occupancy of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee either party shall have the right to terminate this Lease at its option. If any part of the Property shall be Taken so as to materially affect the normal operation of the Building, Landlord may terminate this Lease at its option. In either of such events, Landlord shall receive subject to the rights of Landlord’s first mortgagee (and Tenant shall assign to Landlord upon demand from Landlord), any income, rent, award or any interest thereon which may be paid in connection therewith. Tenant shall have no claim against Landlord for any part of the sums paid by virtue of such proceedings, whether or not attributable to the value of the unexpired Term. If a part of the Premises is Taken and recover from the condemning authorityneither party elects to terminate this Lease, but the Premises have been damaged as a consequence thereof, Landlord shall restore the remaining Premises at its cost. Landlord shall not from Lessorbe required to repair or restore any damage to Tenant’s property or any Alterations. Thereafter, such compensation as may the rent for the remainder of the Term shall be separately awarded proportionately reduced, based on the degree of interference with Tenant’s use of the Premises. If the temporary use or recoverable by Lessee in Lessee’s own right on account occupancy of any and all damage to the Terminal Facilities and/or Lessee’s business by reason part of the condemnationPremises is Taken, including loss of value this Lease shall be unaffected by such taking and Tenant shall continue to pay all rent payable hereunder; Tenant shall be entitled to receive that portion of any unexpired portion award which represents compensation for the use of or occupancy of the TermPremises, and for or on account Landlord shall be entitled to receive that portion which represents the cost of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from restoration of the Premises.
Appears in 1 contract
Samples: Lease Agreement (Gulfstream International Group Inc)
Eminent Domain. If the whole all or any substantial part, in Lessor’s discretion material part of the Premises should be or balance of the Real Property is taken for any public or quasi-public use by a governmental authority under governmental law, ordinance or regulation, or by right the power of eminent domain, or by private purchase domain is conveyed to a governmental authority in lieu thereof of such taking (a “Takingtaking”), Landlord may terminate this Lease shall terminate and by written notice to Tenant within thirty (30) days after the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking taking. If all or any material part of the Premises shall occur. If there is a Taking of less than a substantial taken, and if the taking causes the remaining part of the PremisesPremises to be untenantable an inadequate for use by Tenant for the purpose for which they were leased, then Tenant, at its option and by giving notice within fifteen (15) days after the taking, may terminate this Lease shall not terminate, as of the date Tenant is required to surrender possession of the Premises. If part of the Premises is taken but the Base Rent payable hereunder during the unexpired portion of remaining part is tenantable and adequate for Tenant’s use, then this Lease shall be reduced terminated as to the part taken as of the date Tenant is required to surrender possession, and, unless Landlord shall have terminated this Lease pursuant to the foregoing provisions, Landlord shall make such extent repairs, alterations and improvements as may be fair necessary to render the part not taken tenantable, and reasonable under all the Base Rent shall be reduced in proportion to the part of the circumstancesPremises taken. In All compensation awarded for the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor taking shall be entitled the property of Landlord without any deduction therefrom for any estate of Tenant, and Tenant hereby assigns to any award Landlord all its right, title and all damages payable as a result of any condemnation or taking of interest in and to the fee of the Premisesaward. Lessee Tenant shall have the right right, however, to claim and recover from the condemning governmental authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of the interruption of Tenant’s business, moving and relocation expenses and removal of Tenant’s Personal Property, provided that any and all damage such award to Tenant will not reduce the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss award which would otherwise be made to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the PremisesLandlord.
Appears in 1 contract
Samples: Net Lease (Renovis Inc)
Eminent Domain. a. If the whole or any substantial part, in Lessor’s discretion more than twenty-five percent (25%) of the Premises should shall be taken for or appropriated by any public or quasi-public use authority under governmental law, ordinance or regulation, or by right the power of eminent domain, or by private purchase in lieu thereof (a “Taking”)either party hereto shall have the right, at its option, to terminate this Lease shall terminate and the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor Landlord shall be entitled to any award and all income, rent, award, or any interest therein whatsoever which may be paid or made in connection with such public or quasi-public use or purpose, and Tenant shall have no claim against Landlord for the value of any unexpired term of this Lease. If either less than or more than twenty-five percent (25%) of the Premises is taken, and neither party elects to terminate as herein provided, the rental thereafter to be paid shall be equitably reduced. If any part of the Project other than the Premises may be so taken or appropriated, Landlord shall have the right, at its option to terminate this Lease without liability to Tenant and Landlord shall be entitled to the entire award as above provided.
b. Although all damages payable as a result in the event of any condemnation or taking are to belong to Landlord, whether such damages are awarded as compensation for diminution in value of the leasehold or the fee of estate in the Premises. Lessee , Tenant shall have the right to claim and recover from the condemning authority, but not from LessorLandlord, such compensation as may be separately awarded to or recoverable by Lessee Tenant in Lessee’s Tenant's own right on account of any and all damage to the Terminal Facilities and/or Lessee’s Tenant's business by reason of the condemnationcondemnation and for, including loss of value of any unexpired portion of the Term, and for or on account of of, any cost or loss to which Lessee Tenant might be put in removing Lessee’s personal propertyTenant's merchandise, furniture, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Samples: Office Building Lease (Schimatic Cash Transactions Network Com Inc)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Premises should shall be taken for any public or quasi-public use under by a governmental law, ordinance or regulation, or by right other authority having the power of eminent domain, domain or by private purchase shall be conveyed to such authority in lieu thereof (a “Taking”)of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate of use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease shall terminate and as of the Rent shall be abated during date Tenant is required to surrender possession of the unexpired portion Premises by giving Landlord written notice of this Lease, effective when the physical taking such termination. If a part of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, be taken or conveyed but the Base Rent payable hereunder during the unexpired portion of remaining part is tenantable and adequate for Tenant's use, then this Lease shall be reduced terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such extent repairs, alterations and improvements as may be fair necessary to render the part not taken or conveyed tenantable; and reasonable under the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. All compensation awarded for any such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant, and Tenant hereby assigns to Landlord all of the circumstances. In the event of its right, title and interest in and to any such Takingaward. However, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right to claim and recover from the condemning such authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any moving and all damage relocation expenses and depreciation to the Terminal Facilities and/or Lessee’s business by reason and removal of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal Tenant's property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Eminent Domain. If during the Term (a) the whole or any substantial part, in Lessor’s discretion of the Premises should or the Building shall be taken for by any public governmental or quasi-public use under governmental law, ordinance or regulation, or by right other authority having powers of eminent domaindomain or conveyed to such entity under threat of the exercise of such power or (b) any part of the Premises or the Building including parking or access to the Building shall be so taken or conveyed and as a result, the remainder of the Premises or by private purchase the Building has been rendered impractical, in lieu thereof (a “Taking”)Landlord’s and Tenant’s mutual reasonable judgment, for the operation of Tenant’s business, this Lease shall terminate on the date of the taking or conveyance, and the Rent shall be abated during apportioned to the unexpired portion date thereof. Any award for the taking of this Leaseall or any part of the Premises or the Building under the power of eminent domain or any payment made under threat of the exercise of such power shall be the property of Landlord, effective when whether such award shall be made as compensation for diminution in value of the physical leasehold, for good will, for the taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premisesfee, this Lease shall not terminateas severance damages, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent or as may be fair and reasonable under all of the circumstances. In the event of any such Takingdamages for tenant improvements; provided, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor however, that Tenant shall be entitled to any separate award for loss of or damage to Tenant’s removable personal property and all for moving expenses, provided it does not reduce the amount payable to Landlord. In the event that this Lease is not terminated by reason of such condemnation, Landlord shall to the extent of severance damages payable as a result of received by Landlord in connection with such condemnation, repair any damage to the Building caused by such condemnation or taking of except to the fee of the Premises. Lessee shall have the right to claim and recover from extent that Tenant has been reimbursed therefor by the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Eminent Domain. If In the whole event that all or any substantial part, in Lessor’s discretion of the Premises should be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate and the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part of the PremisesPremises or its common areas is taken (other than for temporary use, hereafter described) by public authority under power of eminent domain (or by conveyance in lieu thereof), then Rent shall be proportionately abated and by notice given within three (3) months following the recording of such taking (or conveyance) in the appropriate registry of deeds, this Lease may be terminated at Landlord’s or Tenant’s election thirty (30) days after such notice, and Rent shall be apportioned as of the date of termination. If this Lease is not terminateterminated as aforesaid, Landlord shall within a reasonable time thereafter, diligently restore what may remain of the Premises (excluding any Tenant Property or other items installed or paid for by Tenant that Tenant is permitted or may be required to remove upon expiration but including any Initial Tenant Improvements and Tenant Work in the Base Rent payable hereunder during nature of leasehold improvements) to a tenantable condition. In the unexpired event some portion of rentable floor area of the Premises is taken (other than for temporary use) and this Lease is not terminated, Rent for the portion thereof not restored shall be reduced to such extent as may be fair and reasonable under all proportionally abated for the remainder of the circumstancesTerm. In the event of any such Takingtaking of the Premises or any part thereof for temporary use, Lessor (i) this Lease shall be and Lessee remain unaffected thereby and rent shall each not xxxxx, and (ii) Tenant shall be entitled to receive and retain for itself such separate awards and/or portion or portions of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking made for such use with respect to the period of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of taking that is within the Term. As used herein, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.a
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the floor area of the Leased Premises should hereby leased or access thereto shall be taken by public authority under the power of eminent domain, then the term of this Lease shall cease at the option of the Tenant as of the date possession thereof or title thereto shall be taken by such public authority, and the rent shall be paid up to that date with a proportionate refund by Landlord of such rent as shall have been paid in advance. In the event that as a result of any taking under the power of eminent domain the common areas and the parking area shall be reduced to less than Eighty Percent (80%) of its former area, or access thereto shall be materially reduced Tenant may, at Tenant's sole election, terminate the term of this Lease by giving Landlord notice of the exercise of its election within sixty (60) days after taking, and the termination shall be effective as of the time that possession of the part so taken shall be required for public use. Thereafter the parties shall be relieved of all subsequent obligations under the terms of this Lease. Landlord reserves to itself, and Tenant assigns to Landlord, all rights to damages accruing on account of any taking under the power of eminent domain or by reason of any act of any public or quasi-public use under governmental law, ordinance or regulation, or by right authority for which damages are payable. Tenant agrees to execute instruments of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate and the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent assignment as may be fair reasonably required by Landlord, and reasonable under all of the circumstances. In the event of to turn over to Landlord any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as damages that may be allocated to their respective interests recovered in any condemnation proceedings. Lessor shall be entitled It is agreed and understood, however, that Landlord does not reserve to itself, and Tenant does not assign to Landlord, any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including for loss of value of any unexpired portion of the Termbusiness or goodwill, and for or on account loss of any cost or loss favorable leasehold, depreciation to which Lessee might be put in removing Lessee’s personal propertyand costs of removal of stock and trade fixtures of Tenant and relocation of Tenant's signs, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesif any.
Appears in 1 contract
Samples: Lease (Leiner Health Products Inc)
Eminent Domain. If the whole all or any a substantial part, in Lessor’s discretion part of the Demised Premises should shall be taken for or acquired by any public or quasi-public use authority under governmental law, ordinance the power or regulation, or by right threat of eminent domain, or by private purchase in lieu thereof (a “Taking”), the Demised Term shall cease and this Lease shall terminate and as of the Rent later of (a) the day possession shall be abated during taken by such public or quasi-public authority or (b) 90 days following Tenant's election to terminate the unexpired portion of this Lease, effective when the physical taking which election shall be available to Tenant at any time after notice of the planned taking or acquisition is given. For purposes hereof, a substantial part of the Demised Premises shall occurbe deemed to have been taken if, in Landlord's and Tenant's reasonable judgment, the remainder of the Demised Premises not such taken is not reasonably useable or is not reasonably and economically repairable. If there is a Taking of less than a substantial part of the PremisesDemised Premises is taken, this Lease shall remain in force as regards to the portion of the Demised Premises not terminateso taken, but the Base Rent payable hereunder during shall not be reduced unless Tenant proves that the unexpired portion of expenses related to Landlord's obligations under this Lease are materially reduced as a result of such taking, in which case the Base Rent shall be equitably reduced to such extent as may reflect Landlord's reduced obligations. All compensation awarded or paid for any taking or acquiring under the power or threat of eminent domain, whether for the whole or a part of the Demised Premises, shall be fair the sole property of Landlord, and reasonable under Tenant hereby assigns to Landlord all of the circumstances. In the event of Tenant's right, title and interest in and to any and all such Takingcompensation; provided, Lessor and Lessee however, that Landlord shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall not be entitled to any award and all damages payable as a result of any condemnation or specifically made to Tenant for the taking of Tenant's furniture, furnishings, leasehold improvements, and diminution in the fee value of the Premises. Lessee shall have Tenant's leasehold estate in the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Demised Premises.
Appears in 1 contract
Samples: Lease Agreement
Eminent Domain. (a) If the whole all or any substantial part, in Lessor’s discretion part of the Premises should shall be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right as a result of the exercise of the power of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate and as to the Rent shall be abated during part so taken as of the unexpired portion date of this Lease, effective when taking. In the physical case of a partial taking of greater than fifty percent (50%) of the Premises shall occur. If there is a Taking of less than a substantial part rentable area of the Premises, either Landlord or Tenant shall have the right to terminate this Lease shall not terminate, but as to the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all balance of the circumstancesPremises by notice to the other within thirty (30) days after the date of the taking. In the event of any such Takinga partial taking of the Premises which does not result in a termination of this Lease, Lessor and Lessee shall each the monthly Base Rent thereafter to be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor paid shall be entitled equitably reduced on a square footage basis. If the continued occupancy of Tenant is materially interfered with for any time during the partial taking, notwithstanding the partial taking does not terminate this Lease as to any the part not so taken, the Base Rent shall proportionately abatx xx long as Tenant is not able to continuously occupy the part remaining and not so taken.
(b) All compensation awarded or paid upon a total or partial taking of the fee title shall belong to Landlord whether such compensation be awarded or paid as compensation for diminution in value of the leasehold or of the fee except: Tenant shall retain and have a claim for the following, to the extent specifically designated by the condemning authority: (i) the unamortized value over the Term of Tenant's leasehold improvements (to the extent Landlord has not contributed to the cost thereof); (ii) that portion (if any) of the award and all damages payable made to Landlord as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipmentremovable by Tenant herein, including, without limitation, under the Terminal Facilities, from terms of this Lease but which are required to be taken by the Premises.condemn or are so acquired by the condemn or; and
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion of the Premises should or the Project or so much thereof as to render the balance unusable by Tenant shall be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right power of eminent domain, or by private purchase is sold, transferred or conveyed in lieu thereof (a “Taking”)thereof, this Lease shall automatically terminate and as of the Rent date of such condemnation, or as of the date possession is taken by the condemning authority, at Landlord’s option. No award for any partial or entire taking shall be abated during apportioned, and Tenant hereby assigns to Landlord any award which may be made in such taking or condemnation, together with any and all rights of Tenant now or hereafter arising in or to the unexpired portion of this Leasesame or any part thereof; provided, effective when however, that nothing contained herein shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award made to Tenant for the physical taking of personal property and trade fixtures belonging to Tenant and removable by Tenant at the Premises shall occur. If there is a Taking of less than a substantial part expiration of the PremisesTerm hereof as provided hereunder or for the interruption of, this Lease shall or damage to, Tenant’s business, and provided, further, that Tenant may separately pursue a claim for compensation against the condemning authority for, among other things, Tenant’s moving and relocation expenses and Tenant’s leasehold interest, so long as same does not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstanceseffect Landlord’s award. In the event of any such Takinga partial taking described in this Article 22, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion or a sale, transfer or conveyance in lieu thereof, which does not result in a termination of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor this Lease, the rent shall be entitled apportioned according to any award and all damages payable as a result of any condemnation or taking the ratio that the part of the fee Premises remaining useable by Tenant bears to the total area of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of Tenant hereby waives any and all damage rights it might otherwise have pursuant to the Terminal Facilities and/or Lessee’s business by reason Section 1265.130 of the condemnation, including loss California Code of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the PremisesCivil Procedure.
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion a material portion of the Premises should shall be taken or condemned by a governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under governmental law, ordinance or regulationthreat of such a taking), or if the owner elects to convey title to the condemnor by right a deed in lieu of eminent domaincondemnation, or by private purchase if all or any portion of the Property are so taken, condemned or conveyed and as a result thereof, in lieu thereof (a “Taking”)Landlord’s reasonable judgment, the Premises cannot be used for Tenant’s Permitted Use as set forth herein, then this Lease shall cease and terminate as of the date when title vests in such governmental or quasi-governmental authority and the Base Rent and Additional Rent shall be abated during on the unexpired date when such title vests in such governmental or quasi-governmental authority. If less than a material portion of this Lease, effective when the physical taking of the Premises shall occur. If there is be taken or condemned by a Taking governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of less than such a substantial part of taking), Base Rent and Additional Rent shall be equitably abated on the Premises, date when such title vests in such governmental or quasi-governmental authority and this Lease shall not terminateotherwise continue in full force and effect. In any case, but the Base Rent payable hereunder during the unexpired Tenant shall have no claim against Landlord for any portion of this Lease shall be reduced to such extent as the amount that may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards awarded as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any governmental or quasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all rights of Tenant to damages therefor are hereby assigned by Tenant to Landlord. The foregoing shall not, however, deprive Tenant of any separate award for moving expenses, dislocation damages or for any other award which would not reduce the fee award payable to Landlord. As used herein, “material portion of the Premises. Lessee ” shall have mean such amount that, in Landlord’s or Tenant’s reasonable judgment, would render the right to claim and recover from Premises untenantable for the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lesseenormal conduct of Tenant’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesbusiness.
Appears in 1 contract
Eminent Domain. If the whole all or any substantial part, in Lessor’s discretion part of the Premises should be is taken for any public -------------- or quasi-public use by a governmental authority under governmental law, ordinance or regulation, or by right the power of eminent domain, domain or by private purchase is conveyed to a governmental authority in lieu thereof of such taking, and if the taking or conveyance causes the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant, at its option and by giving notice within fifteen (a “Taking”)15) days after the taking, may terminate this Lease as of the date Tenant is required to surrender possession of the Premises. If a part of the Premises is taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then the Lease shall terminate 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; and the Rent shall be abated during reduced in proportion to the unexpired portion of this Lease, effective when the physical taking part of the Premises shall occurtaken or conveyed. If there is a Taking of less than a substantial part of All compensation awarded for the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease taking or conveyance shall be reduced the property of Landlord without any deduction therefrom for any estate of Tenant, and Tenant hereby assigns to such extent as may be fair Landlord all its right, title and reasonable under all of interest in and to the circumstancesaward. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right right, however, to claim and recover from the condemning governmental authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any the interruption of Tenant's business, moving and all damage to the Terminal Facilities and/or Lessee’s business by reason relocation expenses; and removal of the condemnation, including loss of value of any unexpired portion of the Term, Tenant's trade fixtures and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Samples: Sublease (Ibeam Broadcasting Corp)
Eminent Domain. If the whole Building is totally taken by condemnation or any substantial part, in Lessor’s discretion of the Premises should be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate and as of the Rent date of such taking. If the Building, or such portion thereof as to render the balance (if reconstructed to the maximum extent practicable in the circumstances) physically unsuitable in the LESSEE's reasonable judgment for the LESSEE's purposes, shall be abated during taken by condemnation or right of eminent domain (including a temporary taking in excess of 180 days), the unexpired portion LESSEE or the LESSOR shall have the right to terminate this Lease by notice to the other of this Leaseits desire to do so, effective when provided that such notice is given not later than ten (10) days after the physical taking LESSEE has been deprived of the Premises shall occurpossession. If there is a Taking of less than a substantial Should any part of the Premises, Building be so taken or condemned or receive such damage and should this Lease shall not terminatebe terminated in accordance with the foregoing provisions, but the Base Rent payable hereunder during LESSOR shall, to the unexpired portion of this Lease shall be reduced extent condemnation proceeds are available to such extent as may be fair and reasonable under all LESSOR, promptly restore the Leased Premises to an architectural unit that is suitable to the uses of the circumstancesLESSEE permitted hereunder. In the event of any such Takinga taking described in this Paragraph 17A, Lessor the rent and Lessee shall each be entitled other charges payable hereunder, or a fair and just proportion thereof according to receive the nature and retain such separate awards and/or portion extent of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor the loss of use shall be entitled suspended or abated. The LESSOR reserves, and the LESSEE grants to the LESSOR, all rights which the LESSEE may have for damages or injury to the Leased Premises for any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authorityby eminent domain, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all except for damage to the Terminal Facilities and/or Lessee’s business by reason of LESSEE's trade fixtures, personal property or equipment, if any, the condemnationLESSEE's right to relocation expenses, including loss of value of any unexpired portion of the Termif any, and the LESSEE's right for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal propertybusiness interruption, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesif any.
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Premises should shall be taken for any public or quasi-public use by a governmental authority acting under governmental law, ordinance or regulation, or by right the power of eminent domain, domain or by private purchase shall be conveyed to a governmental authority in lieu thereof of such taking, and if such taking or conveyance shall cause the remaining part of the Premises (a “Taking”)if any) to be untenantable and inadequate for use by Tenant for the purposes for which they were Lease, then Tenant, at its option, may terminate this Lease shall terminate and as of the Rent shall be abated during date Tenant is required to surrender possession of the unexpired portion of this Lease, effective when the physical taking Premises. If a part of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, be so taken or conveyed but the Base Rent payable hereunder during the unexpired portion of remaining part is tenantable and adequate for Tenant’s use, then this Lease shall be reduced terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such extent repairs, alterations and improvements as may be fair necessary to render the part not taken or conveyed tenantable; and reasonable under all the rent shall be reduced in proportion to the part of the circumstancesPremises so taken or conveyed (as measured by Landlord). In All compensation awarded for such taking or conveyance shall be the event property of Landlord without any deduction therefrom for any present or future estate of Tenant, and Tenant hereby assigns to Landlord all its rights, title and interest in and to any such Takingaward. However, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right to claim and recover from the condemning governmental authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any the interruption of Tenant’s business, moving and all damage relocation expenses and depreciation to the Terminal Facilities and/or Lesseeand removal of Tenant’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, trade fixtures and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
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Eminent Domain. If 23.1 In the event the whole or any substantial part, in Lessor’s discretion of the Premises should Project shall be taken for any public or quasi-public use under governmental law, ordinance purpose by any lawful power or regulation, or authority by exercise of the right of appropriation, condemnation or eminent domain, or by private purchase in lieu thereof (a “Taking”)sold to prevent such taking, Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority.
23.2 In the event of a partial taking of the Project for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sold to prevent such taking, then Landlord may elect to terminate this Lease if such taking is of a material nature such as to make it uneconomical to continue use of the unappropriated portions for the purposes for which they were intended, and Tenant may elect to terminate this Lease if such taking is of material detriment to, and substantially interferes with, Tenant's use and occupancy of the Premises. In no event shall terminate this Lease be terminated when such a partial taking does not have a material adverse effect upon Landlord or Tenant or both. Termination by either party pursuant to this section shall be effective as of the date possession is required to be surrendered to said authority.
23.3 If upon any taking of the nature described in this Article 23 this Lease continues in effect, then Landlord shall promptly proceed to restore the remaining portion of the Project, including all improvements and fixtures located in the Premises, to substantially their same condition prior to such partial taking; provided, however, Landlord's obligation hereunder shall be limited to the amount of the condemnation proceeds. Basic Annual Rent shall be abated during proportionately on the unexpired portion of this Lease, effective when the physical taking basis of the Premises shall occur. If there is a Taking of less than a substantial part square feet of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all Rentable Area of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation Project or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the PremisesPremises taken.
Appears in 1 contract
Eminent Domain. If Tenant agrees that if the Building, or so much of the Premises so as impair Tenant’s use of the Premises, shall be taken or condemned for public or quasi-public use or purpose by any competent authority, Tenant shall have no claim against the Landlord and shall not have any claim or right to any portion of the amount that may be awarded as damages or paid as a result of any such condemnation; and all rights of the Tenant to damages therefore, if any, are hereby assigned by the Tenant to the Landlord. Upon any condemnation or taking, affecting the whole or any substantial part, in Lessor’s discretion part of the Premises should be as provided above, the Term of this Lease shall cease and terminate unless the parties otherwise agree in writing. The Tenant shall have no claim for the value of any unexpected Term of this Lease. If less than the whole of the Building or substantial part of the Premises is taken or condemned by any governmental authority for any public or quasi-public use under governmental lawor purpose, ordinance or regulationand in the event neither Landlord not Tenant shall desire to terminate this Lease, or by right of eminent domain, or by private purchase then and in lieu thereof (a “Taking”), this Lease shall terminate and such event the Basic Rent shall be abated during equitably adjusted on the unexpired portion date when title vests in such governmental authority and the Lease shall otherwise continue in full force and effect. For purposes of this LeaseSection, effective when a substained part of the physical taking Building shall be considered to have been taken if twenty five percent (25%) or more is taken. A substained portion of the Premises shall occur. If there is a Taking of less be deemed taken if more than a substantial part twenty five percent (25%) of the Premises, this Lease shall not terminate, but areas of available for parking are taken. Notwithstanding anything to the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstancescontrary contained herein. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor Tenant shall be entitled to any award pursue a separate claim for the value or Tenant’s furnishings, equipment, movable trade fixtures which are not deemed pursuant to this Lease to be Landlord’s property and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage then only to the Terminal Facilities and/or Lessee’s business extent paid for by reason of Tenant and provided such claim shall in no manner diminish the condemnation, including loss of value of any unexpired portion of the Term, and for award or on account of any cost or loss other compensation to which Lessee might Landlord would otherwise be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesentitled.
Appears in 1 contract
Eminent Domain. If the whole Premises shall be lawfully taken or any substantial part, in Lessor’s discretion condemned (or conveyed under threat of the Premises should be taken such taking or condemnation) for any public or quasi-public use under governmental lawor purpose, ordinance except for temporary use, the Term of this Lease shall end upon, and not before, the date of the taking of possession by the condemning authority, and without apportionment of the award. Tenant hereby assigns to Landlord, Tenant's interest, if any, in such award. Current Rent shall be apportioned as of the date of such termination. If any part of the Premises is taken, Landlord or regulationTenant shall each have the option by giving the other party notice, to cancel this Lease and each party's obligations hereunder within two (2) months of the taking of possession by the condemning authority, except that if less than twenty (20%) of the Premises is taken and Tenant is able to operate its business in the Premises, to be determined in Tenant's reasonable discretion, Landlord's right to cancel this Lease shall be null and void. No money or other consideration shall be payable by Landlord or Tenant to the other for the right of cancellation, and Tenant shall have no right to share in any condemnation award, or by right of eminent domainin any judgment for damages, or by private purchase in lieu thereof (a “Taking”)any proceeds of any sale made under any threat of condemnation or taking. In the event this Lease is not canceled, this Lease shall terminate continue in full force and effect, without abatement or reduction of Rent due hereunder. Anything to the Rent contrary contained herein notwithstanding, Tenant shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of made to Tenant for the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value its leasehold interest and removal and relocation of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s its personal property, fixtures, leasehold improvements and equipment, including, without limitation, provided the Terminal Facilities, from same does not diminish the Premisesaward specifically made to Landlord.
Appears in 1 contract
Eminent Domain. If Tenant agrees that if the whole Leased Premises, or any substantial partpart thereof, in Lessor’s discretion of the Premises should shall be taken or condemned for any public or quasi-public use under governmental lawor purpose by any competent authority, ordinance Tenant shall have no claim against Landlord and shall not have any claim or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate and the Rent shall be abated during the unexpired to any portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as amount that may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards awarded as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable or paid as a result of any condemnation such condemnation, whether such amount be awarded for diminution in value to the leasehold or to the fee. It is agreed that the full amount of such award, if any, made by the taking authorities shall be paid to and retained by Landlord, free of any claim by Tenant to any portion thereof, and all rights of Tenant to damages therefor, if any, are hereby assigned by Tenant to Landlord. In the event that all or any part of the fee Leased Premises shall be taken or condemned by any governmental authority, the effect of which taking is such that the Leased Premises is rendered unusable by Tenant, in Tenant's reasonable discretion, for the operation of its normal business within the Leased Premises. Lessee , then the term of this Lease shall have the right to claim cease and recover terminate from the condemning date on which the Tenant is required, by such taking authority, but to surrender possession of said Leased Premises and the Tenant shall not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of have nor make any and all damage to claim against Landlord for the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired term of this Lease. In the event that a portion of the TermLeased Premises shall be taken or condemned by any governmental authority, and for or on account of any cost or loss to which Lessee might be put taking does not render the Leased Premises unusable by Tenant, in removing Lessee’s personal propertyTenant's reasonable discretion, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.then this Lease
Appears in 1 contract
Eminent Domain. a. If the whole Premises or any substantial part, in Lessor’s discretion of portion thereof are taken under the Premises should be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right power of eminent domain, or sold by private purchase in lieu thereof (a “Taking”)Landlord under the threat of the exercise of such power, this Lease shall terminate as to the part so taken as of the date that the condemning authority takes possession of the Premises. If more than twenty-five percent (25%) of the Premises is taken or sold under such threat, either Landlord or Tenant may terminate this Lease as of the date that the condemning authority takes possession by delivery of written notice of such election within twenty (20) days after such party has been notified of the taking or, in the absence thereof, within twenty (20) days after the condemning authority shall have taken possession.
b. If this Lease is not terminated by Landlord or Tenant, it shall remain in full force and effect as to the Rent portion of the Premises remaining, provided that, the monthly base rent shall be abated during reduced by that proportion which the unexpired portion floor area of this Leasethe Premises taken bears to the gross floor area of the Premises. In such event, effective when Landlord may, at Landlord's expense, restore the physical Premises (but not Tenant's improvements therein) to a complete unit of like quality and character, except as to size, as existed prior to the date on which the condemning authority took possession.
c. All awards for the taking of any part of the Premises or proceeds from the sale made under the threat of the exercise of the power of eminent domain shall be the property of Landlord, whether made as compensation for diminution of value of the leasehold estate, for the taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premisesfee, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent or as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor severance damages; provided that Tenant shall be entitled to any award and all damages payable as a result which is made for loss of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, Tenant's trade fixtures and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s removable personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Eminent Domain. If the whole all or any substantial part, in Lessor’s discretion material part of the Premises should be or the parking lot is taken for any public or quasi-public use by a governmental authority under governmental law, ordinance or regulation, or by right the power of eminent domain, domain or by private purchase is conveyed to a governmental authority in lieu thereof of such taking (a “Takingtaking”), Landlord may terminate this Lease by written notice to Tenant within thirty (30) days after the taking. If all or any material part of the Premises is taken, and if in any such case the taking causes the remaining part of the Premises to be materially untenantable and inadequate for use by Tenant for the purpose for which they were leased, in Tenant’s reasonable opinion, then Tenant, at its option and by giving notice within thirty (30) days after the taking, may terminate this Lease as of the date Tenant is required to surrender possession of the Premises. If part of the Premises is taken but the remaining part is tenantable and adequate for Tenant’s use, then this Lease shall terminate be terminated as to the part taken as of the date Tenant is required to surrender possession, and, unless Landlord shall have terminated this Lease pursuant to the foregoing provisions, Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken tenantable, and the Rent shall be abated during reduced in proportion to the unexpired portion of this Lease, effective when the physical taking part of the Premises shall occurtaken. If there is a Taking of less than a substantial all or any material part of the PremisesPremises is taken, and if in any such case the taking causes the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant, at its option and by giving notice within thirty (30) days after the taking, may terminate this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled date Tenant is required to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee surrender possession of the Premises. Lessee All compensation awarded for the taking shall be the property of Landlord without any deduction therefrom for any estate of Tenant, and Tenant hereby assigns to Landlord all its right, title and interest in and to the award. Tenant shall have the right right, however, to claim and recover from the condemning governmental authority, but not from LessorLandlord, only such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any and all damage improvements made to the Terminal Facilities and/or LesseePremises at Tenant’s business by reason of the condemnationcost, including moving and relocation expenses, loss of value good will and the business as a going concern and removal of Tenant’s Personal Property, provided that any unexpired portion of such award to Tenant will not reduce the Term, and for or on account of any cost or loss award which would otherwise be made to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the PremisesLandlord.
Appears in 1 contract
Samples: Stock Purchase Agreement (Simpson Manufacturing Co Inc /Ca/)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion material part of the Premises should Building shall be taken for any public or quasi-public use under by a governmental law, ordinance or regulation, or by right other authority having the power of eminent domain, or by private purchase shall be conveyed to such authority in lieu thereof (a “Taking”)of such taking, and if such taking or conveyance shall cause the remaining part of the Building to be untenantable and inadequate for use by Tenant for the purpose for which it was leased, then Tenant may, at its option, terminate this Lease as of the date Landlord is required to surrender possession of the Building. In such event, all Rent due under this Lease shall terminate be apportioned to and shall cease as of the Rent date Landlord is required to surrender possession of the Building, and Landlord and Tenant shall be abated during the unexpired portion of this Lease, effective when the physical taking released from all further obligations and liability hereunder (except for any obligations previously incurred hereunder). If a part of the Premises Building shall occurbe taken or conveyed, but the remaining part is tenantable and adequate for Tenant's use, Landlord shall make such repairs, alterations and improvements (exclusive of repairs, alterations or improvements to tenant improvements, if any, installed by Tenant pursuant to Section 8.03) as may be necessary to render the part not taken or conveyed tenantable. If there is a Taking of less than a substantial such taking or conveyance includes any part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced in proportion to the part of the Premises so taken or conveyed. All compensation awarded for such extent as may taking or conveyance shall be fair the property of Landlord, without any deduction therefrom for any present or future estate of Tenant, and reasonable under Tenant hereby assigns to Landlord all of the circumstances. In the event of its right, title and interest in and to any such Takingaward. However, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right to claim and recover from the condemning such authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any moving and all damage relocation expenses and depreciation to the Terminal Facilities and/or Lessee’s business and removal of Tenant's trade fixtures and personal property and alterations or tenant improvements, if any, installed by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss Tenant pursuant to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the PremisesSection 8.03.
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion a material portion of the Premises should (or use or occupancy of the Premises) shall be taken or condemned by a governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under governmental law, ordinance or regulationthreat of such a taking), or if the owner elects to convey title to the condemnor by right a deed in lieu of eminent domaincondemnation, or by private purchase if all or any portion of the Land or Building are so taken, condemned or conveyed and as a result thereof, in lieu thereof (a “Taking”)Landlord’s reasonable but sole judgment, the Premises cannot be used for Tenant’s permitted use as set forth herein, then this Lease shall cease and terminate as of the date when title vests in such governmental or quasi-governmental authority and the Fixed Rent and Additional Rent shall be abated during on the unexpired date when such title vests in such governmental or quasi-governmental authority. If less than a material portion of this Lease, effective when the physical taking of the Premises shall occur. If there is taken or condemned by any governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a Taking of less than a substantial part of taking) such that Tenant is still able to conduct its business operations in the Premises, as diminished, without undue interruption or difficulty, Fixed Rent and Tenant’s Proportionate Share shall be equitably adjusted (on the basis of the number of square feet before and after such event) on the date when title vests in such governmental or quasi-governmental authority and this Lease shall not terminateotherwise continue in full force and effect. In any case, but the Base Rent payable hereunder during the unexpired Tenant shall have no claim against Landlord for any portion of this Lease shall be reduced to such extent as the amount that may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards awarded as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any governmental or quasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all rights of the fee of the PremisesTenant to damages therefor are hereby assigned by Tenant to Landlord. Lessee The foregoing shall have the right to claim and recover from the condemning authoritynot, but not from Lessorhowever, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account deprive Tenant of any and all damage separate award for moving expenses, dislocation damages or for any other award which would not reduce the award payable to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the PremisesLandlord.
Appears in 1 contract
Samples: Sublease (Solid Biosciences Inc.)
Eminent Domain. If the whole or any a substantial part, in Lessor’s discretion part of the Premises should be Demised Premises, the Buildings or the Complex is taken or condemned for any a public or quasi-public use under governmental law, ordinance or regulation, any statute or by right of eminent domain, domain by any competent authority or by private purchase sold in lieu thereof of such taking or condemnation, such that in the opinion of an architect (a “Taking”who shall be selected by both Tenant and Landlord), the Demised Premises, the Buildings and/or the Complex are not economically operable as before without substantial alteration or reconstruction, this Lease shall automatically terminate on the date that the right to possession shall vest in the condemning authority (the "Taking Date"), with rent being adjusted to said Taking Date, and Tenant shall have no claim against Landlord for the Rent shall be abated during the value of any unexpired portion term of this Lease, effective when the physical taking of the Premises . Tenant shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired have no claim against Landlord and no claim or right to any portion of this Lease shall be reduced to such extent as any amount that may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards awarded as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable or paid as a result of any taking, condemnation or taking of the fee of the Premises. Lessee purchase in lieu thereof; except that Tenant shall have the right to claim and recover from a separate award for moviing expenses or any other award which woould not reduce the condemning authorityaward payable to Landlord. If any part of the Demised Premises is so taken or condemned, but this Lease is not from Lessor, such compensation automatically terminated as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage aforesaid this Lease shall automatically terminate as to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the TermDemised Premises so taken or condemned, as of the Taking Date, and this Lease shall continue in full force as to the remainder of the Demised Premises, with rent abating only to the extent of the Demised Premises so taken or condemned; provided, however, that if the remaining portion of the Demised Premises is no longer suitable for or on account of any cost or loss the Permitted Use, then Tenant shall have the right to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, terminate this Lease by providing written notice thereof to Landlord within thirty (30) days after the Terminal Facilities, from the PremisesTaking Date.
Appears in 1 contract
Eminent Domain. 12.01 If the whole ten percent (10%) or any substantial part, in Lessor’s discretion more of the Premises should be Improvements are condemned or taken in any manner (including without limitation any conveyance in lieu thereof) for any public or quasi-public use under governmental lawuse, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking”), Tenant may terminate this Lease shall terminate and if it determines, in the Rent shall exercise of its discretion, that the restoration or continued operation of the Improvements would not be abated during the unexpired economic. If a portion of the Land (but not the Improvements) is condemned or taken resulting in that the use of the Improvements is significantly and adversely affected thereby, then Tenant may terminate this Lease, effective when . Tenant shall notify Landlord of Tenant's election to terminate the physical taking Lease as provided herein within sixty (60) days after being notified of the Premises shall occur. such condemnation or taking.
12.02 If there is a Taking of less than a substantial part of the Premises, this Lease shall is not terminateterminated following such a condemnation or taking, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to Tenant, as soon as reasonably practicable after such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking and the determination and payment to Tenant of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right award on account thereof, shall restore the Improvements to an architectural unit as nearly like its condition prior to such taking as shall be practicable.
12.03 The whole of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of award or compensation for any unexpired portion of the TermImprovements taken, condemned or conveyed in lieu of taking or condemnation, shall be solely the property of and payable to Tenant, and for or on account the whole of any cost award or loss compensation for any portion of the Land taken, condemned or conveyed in lieu of taking or condemnation, shall be solely the property of and payable to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the PremisesLandlord.
Appears in 1 contract
Eminent Domain. If the whole all or any substantial part, in Lessor’s discretion part of the Premises should be is taken for any public or -------------- quasi-public use by a governmental authority under governmental law, ordinance or regulation, or by right the power of eminent domain, domain or by private purchase is conveyed to a governmental authority in lieu thereof of such taking, and if the taking or conveyance causes the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant, at its option and by giving notice within fifteen (15) days after the taking, may terminate this Lease as of the date Tenant is required to surrender possession of the Premises. If a “Taking”)part of the Premises is taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall terminate 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; and the Rent shall be abated during reduced in proportion to the unexpired portion of this Lease, effective when the physical taking part of the Premises shall occurtaken or conveyed. If there is a Taking of less than a substantial part of All compensation awarded for the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease taking or conveyance shall be reduced the property of Landlord without any deduction therefrom for any estate of Tenant, and Tenant hereby assigns to such extent as may be fair Landlord all its right, title and reasonable under all of interest in and to the circumstancesaward. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right right, however, to claim and recover from the condemning governmental authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any the interruption of Tenant's business, moving and all damage to the Terminal Facilities and/or Lessee’s business by reason relocation expenses; and removal of the condemnation, including loss of value of any unexpired portion of the Term, Tenant's trade fixtures and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Samples: Lease (Consilium Inc)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion of the Premises should be entire Building is taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof (this lease Agreement shall automatically terminate as of the date of taking. If a “Taking”), this Lease shall terminate and the Rent shall be abated during the unexpired portion of this Leasethe Building is taken by eminent domain, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Landlord shall have the right to claim and recover from the condemning authorityterminate this lease Agreement, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage provided it gives written notice therefore to the Terminal Facilities and/or Lessee’s business by reason Tenant within thirty (30) days after the date of the condemnation, including loss of value of any unexpired taking. If a portion of the TermPremises is taken by eminent domain and this lease Agreement is not terminated by Landlord, or if parking is taken such that the remaining parking would not comply with the City of Edina's ordinances, or if all material access to the Building is taken, then in any of such events Tenant shall have the right to terminate this Lease Agreement, provided it gives written notice thereof to the Landlord within thirty (30) days after the date of taking. If this Lease Agreement is not terminated by either Landlord or Tenant, then the Landlord shall, at its expense, restore the Premises to as near the condition which existed immediately prior to the date of taking as reasonably possible, and the rentals shall xxxxx during such period of time as the Premises are untenantable, in the proportion that the untenantable portion of the Premises bears to the entire Premises. All damages awarded for or on account such taking under the power of any cost or loss eminent domain shall belong to and be the sole property of Landlord, irrespective of the basis upon which Lessee might be put in removing Lessee’s personal propertythey are awarded, provided, however, that nothing contained herein shall prevent Tenant from making a separate claim to the condemning authority for its moving expenses and trade fixtures. For purposes of this Article, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesa taking by eminent domain shall include Landlord's giving of a deed under threat of condemnation.
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion of the Premises should or so much thereof as to render the balance unusable by Tenant shall be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right power of eminent domain, or by private purchase is sold, transferred or conveyed in lieu thereof (a “Taking”)thereof, this Lease shall automatically terminate and as of the Rent date of such condemnation, or as of the date possession is taken by the condemning authority, at Landlord's option. No award for any partial or entire taking shall be abated during apportioned, and Tenant hereby assigns to Landlord any award which may be made in such taking or condemnation, together with any and all rights of Tenant now or hereafter arising in or to the unexpired portion of this Leasesame or any part thereof; provided, effective when however, that nothing contained herein shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award made to Tenant for relocation costs, the physical taking of personal property and fixtures belonging to Tenant and removable by Tenant at the Premises shall occur. If there is a Taking of less than a substantial part expiration of the Premisesterm hereof as provided hereunder or for the interruption of, this Lease shall not terminateor damage to, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstancesTenant's business. In the event of any such Takinga partial taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion or a sale, transfer or conveyance in lieu thereof, which does not result in a termination of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor this Lease, the rent shall be entitled apportioned according to any award and all damages payable as a result of any condemnation or taking the ratio that the part of the fee Premises remaining useable by Tenant bears to the total area of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Samples: Standard Office Lease (Netgear Inc)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion of the Premises should or so much thereof as to render the balance unusable by Tenant shall be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right power of eminent domain, or by private purchase is sold, transferred or conveyed in lieu thereof (a “Taking”"taking"), this Lease shall automatically terminate and as of the Rent date of such condemnation, or as of the date possession is taken by the condemning authority, at Landlord's option. No award for any partial or entire taking shall be abated during apportioned, and Tenant hereby assigns to Landlord any award which may be made in such taking or condemnation, together with any and all rights of Tenant now or hereafter arising in or to the unexpired portion same of this Leaseany part thereof-, effective when provided, however, that nothing contained herein shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award made to Tenant for the physical taking of personal property and trade fixtures belonging to Tenant and removable by Tenant at the Premises shall occur. If there is a Taking of less than a substantial part expiration of the Premisesterm hereof as provided hereunder or for the interruption of, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced or damage to such extent as may be fair and reasonable under all of the circumstancesTenant's business. In the event of any such Takinga partial taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion which does not result in a termination of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor this Lease, the rent shall be entitled apportioned according to any award and all damages payable as a result of any condemnation or taking the ratio that the part of the fee Premises remaining usable by Tenant bears to the total area of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Eminent Domain. If In the event that the whole or any substantial part, in Lessor’s discretion of the Premises should shall be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right the power of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall thereupon terminate and as of the Rent date possession shall be abated during the unexpired so taken. If any portion of this Lease, effective when the physical taking of the Premises shall occurbe taken as aforesaid, then Landlord may, by written notice to Tenant, terminate this Lease and termination of the Lease shall be effective as of the date possession is taken. If there In the event that this Lease is not so terminated, Landlord shall, upon receipt of the award in condemnation, make all necessary repairs or alterations to the building in which the Premises are located, but Landlord shall not be required to spend for such repairs an amount in excess of the Amount Received by Landlord as damages for the part of the Premises so taken. "Amount received by Landlord" shall mean that part of the award in condemnation which is free and clear to Landlord of any collection by mortgagees and after payment of all costs involved in collection, including but not limited to attorney's fees. In the event that Landlord does not terminate this Lease upon a Taking of less than a substantial part partial taking of the Premises, this Lease shall not terminate(i) Tenant, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair at its own cost and reasonable under expense shall, restore all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal propertyexterior signs, fixtures, equipment, leasehold improvements and equipment, including, without limitation, other installations of personality of Tenant which are not taken to as near its former condition as the Terminal Facilities, from the Premises.circumstance will permit; and
Appears in 1 contract
Samples: Lease (Ziplink Inc)
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Premises should shall be taken for any public or quasi-public use under by a governmental law, ordinance or regulation, or by right other authority having the power of eminent domain, domain or by private purchase shall be conveyed to such authority in lieu thereof (a “Taking”)of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then either Landlord or Tenant may, at their respective option, terminate this Lease shall terminate and as of the Rent shall be abated during date Tenant is required to surrender possession of the unexpired portion Premises by giving written notice of this Lease, effective when such termination to the physical taking other party. If a part of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, be taken or conveyed but the Base Rent payable hereunder during the unexpired portion of remaining part is tenantable and adequate for Tenant’s use, then this Lease shall be reduced terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such extent repairs, alterations and improvements as may be fair necessary to render the part not taken or conveyed tenantable to the extent the condemnation award proceeds received by Landlord are sufficient therefore; and reasonable under all the rent shall be reduced in proportion to the part of the circumstancesPremises so taken or conveyed. In All compensation awarded for such taking or conveyance shall be the event property of Landlord without any deduction therefrom for any present or future estate of Tenant, and Tenant hereby assigns to Landlord all its right, title and interest in and to any such Takingaward. However, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right to claim and recover from the condemning such authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any moving and all damage relocation expenses and depreciation to the Terminal Facilities and/or Lesseeand removal of Tenant’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesso long as such award to Tenant does not reduce any award payable to Landlord.
Appears in 1 contract
Samples: Lease Agreement (First Indiana Corp)
Eminent Domain. If the whole Premises, any substantial part thereof, the land on which the Building stands, or any substantial part, in Lessor’s discretion of the Premises should estate therein shall be taken by any competent authority under the power of eminent domain, or is conveyed or leased in lieu of such taking, or is acquired for any public or quasi-public use under governmental lawor purpose, ordinance or regulation, or by right the Term of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate upon the date when the possession of said Premises or the part thereof so taken, is taken, conveyed, or leased, without apportionment of the award, and Tenant shall have no claim against Landlord for the Rent value of any unexpired Term. If any condemnation proceedings shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there instituted in which it is a Taking of less than a substantial sought to take or damage any part of the PremisesBuilding or the land under it or contiguous thereto, this Lease shall not terminate, but or if the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event grade of any street or alley adjacent to the Building is changed by any competent authority, and such Takingchange of grade makes it necessary or desirable to remodel the Building to conform to the changed grade, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Landlord shall have the right to claim cancel this Lease after having given written notice of cancellation to Tenant not less than ninety (90) days prior to the date of condemnation designated in the notice. In either of said events, rent at the then-current rate shall be apportioned as of the date of the termination. No money or other consideration shall be payable by Landlord to Tenant for the right of cancellation, and recover from the Tenant shall have no right to share in the condemnation award or in any judgment for damages caused by the taking or the change of grade. Nothing in this Paragraph shall preclude an award being made to Tenant by the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including authority for loss of value of any unexpired portion of the Termbusiness, or depreciation to, and for cost of removal of, equipment or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
Appears in 1 contract
Eminent Domain. If the whole all or any substantial part, in Lessor’s discretion material part of the Premises should be or the balance of the Property is taken for any public or quasi-public use by a governmental authority under governmental law, ordinance or regulation, or by right the power of eminent domain, domain or by private purchase is conveyed to a governmental authority in lieu thereof of such taking (a “Taking”itakingi), Landlord may terminate this Lease shall terminate and by written notice to Tenant within thirty (30) days after the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking taking. If all or any material part of the Premises shall occur. If there or the balance of the Property is a Taking of less than a substantial taken, and if the taking causes the remaining part of the PremisesPremises to be untenantable or inaccessible, and inadequate for use by Tenant for the purpose for which they were leased, then Tenant, at its option and by giving notice within thirty (30) days after the taking, may terminate this Lease shall not terminateas of the date Tenant is required to surrender possession of the Premises or the date such other portion of the Property is taken, as applicable. If part of the Premises is taken but the Base Rent payable hereunder during the unexpired portion of remaining part is tenantable and accessible, and adequate for Tenant's use, then this Lease shall be reduced terminated as to the part taken as of the date Tenant is required to surrender possession, and, unless Landlord shall have terminated this Lease pursuant to the foregoing provisions, Landlord shall make such extent repairs, alterations and improvements as may be fair necessary to render the part not taken tenantable, and reasonable under all the Base Rent shall be reduced in proportion to the part of the circumstancesPremises taken. In All compensation awarded for the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor taking shall be entitled the property of Landlord without any deduction therefrom for any estate of Tenant, and Tenant hereby assigns to any award Landlord all its right, title and all damages payable as a result of any condemnation or taking of interest in and to the fee of the Premisesaward. Lessee Tenant shall have the right right, however, to claim and recover from the condemning governmental authority, but not from LessorLandlord, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right to Tenant on account of any the interruption of Tenant's business, moving and all damage to relocation expenses, removal of Tenant's Personal Property, and the Terminal Facilities and/or Lessee’s business by reason value of the condemnationTenant Improvements, including loss Built-In Trade Fixtures, Removable Trade Fixtures and other Alterations in Tenant's proportionate share, based on the proportionate share of value of costs for such items paid by Tenant, provided that any unexpired portion of such award to Tenant will not reduce the Term, and for or on account of any cost or loss award which would otherwise be made to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the PremisesLandlord.
Appears in 1 contract
Eminent Domain. If the whole or any substantial part, in Lessor’s discretion of the Premises should be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate and the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a permanent Taking of less than a substantial part (i) 15% or more of the total Square Feet of the Building, or (ii) 15% or more of the total number of parking spaces in the Premises, either party may terminate this Lease as of the date the public authority takes possession, by written notice to the other party within 30 days after the Taking provided, however, in the case of a Taking resulting in a loss of parking spaces, Tenant shall not terminate, but the Base Rent payable hereunder during the unexpired portion of have no right to terminate this Lease shall be reduced to such extent as may be fair and reasonable under all if Lessor provides Tenant with reasonably comparable parking not materially more distant or less accessible than the parking spaces which were the subject of the circumstancesTaking. In If this Lease is so terminated, any rents and other payments will be prorated as of the event termination and will be proportionately refunded to Tenant, or paid to Lessor, as the case may be. All damages, awards and payments for the Taking will belong to Lessor irrespective of any such Takingthe basis upon which they were made or awarded, Lessor and Lessee shall each provided that Tenant will be entitled to receive bring a separate claim and retain recover any amounts specifically awarded for Tenant's trade fixtures or equipment or as a relocation payment or allowance, so long as such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedingsaward does not reduce Lessor's award. Lessor shall be entitled to any award and all damages payable If this Lease is not terminated as a result of any condemnation or taking the Taking, Lessor will restore the remainder of the fee Premises to a condition as near as reasonably possible to the condition prior to the Taking, and the rent will be abated for the period of time the space is untenantable in proportion to the square foot area untenantable and this Lease will be amended appropriately to reflect the deletion of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesspace taken.
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Eminent Domain. If the whole or any substantial part, in Lessor’s discretion part of the Premises should shall be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right the power of eminent domain, domain or by private purchase acquired in lieu thereof (a “Taking”)thereof, then this Lease shall terminate as to the part so taken on the day when Tenant is required to yield possession thereof to the condemning authority, and, subject to the rights of mortgagees and further subject to the sufficiency in amount of the award or price paid on account of the taking or acquisition in lieu thereof, Landlord shall make such repairs and alterations as may be necessary in order to restore the part not taken to useful condition; and the Basic Rent and Tenant's Proportionate Share shall be abated during reduced, proportionately, as to the unexpired portion of this Lease, effective when the physical taking of the Premises shall occurso taken. If there the amount of the Premises so taken or acquired is a Taking such as to impair substantially the usefulness of less than the Premises for the purposes for which the same are hereby leased, then either party shall have the option to terminate this Lease as of the date when Tenant is required to yield possession. All compensation awarded or paid for such taking or acquisition shall belong to and be the property of Landlord except to the extent that any such compensation is specifically designated for the leasehold interest. Anything herein to the contrary notwithstanding, if a substantial part of the PremisesBuilding and/or of Landlord's Tract is taken or acquired in the manner aforesaid, this Lease shall whether or not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced Premises are so taken or acquired to such any extent as may be fair and reasonable under all irrespective of the circumstances. In the event extent of any such Taking, Lessor and Lessee shall each be entitled award of proceeds to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking Landlord by virtue of the fee of the Premises. Lessee taking or acquisition in lieu thereof, Landlord shall have the right right, upon written notice to claim and recover from the condemning authorityTenant within sixty (60) days after such taking or acquisition, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesterminate this Lease.
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Eminent Domain. (Total Condemnation): If the DOMAIN whole or any substantial part, in Lessor’s discretion of the Premises should premises hereby leased shall be taken for by any public or quasi-public use authority under governmental law, ordinance or regulation, or by right the power of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate and then the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion term of this Lease shall cease as of the day possession shall be reduced taken by such public authority and the rent shall be paid up to that day with a proportionate refund by the Landlord of such extent rent as may be fair and reasonable under all have been paid in advance. (Partial Condemnation): If less than the whole but more than twenty (20%) percent of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor leased premises shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee taken under eminent domain, Tenant shall have the right to claim either terminate this Lease and recover from declare the condemning authoritysame null and void, but not from Lessoror, continue in possession of the remainder of the leased premises, and shall notify Landlord in writing prior to any such compensation as may taking of Tenant's intention. In the event Tenant elects to remain in possession, all of the terms herein provided shall continue in effect, except that the minimum rent shall be separately awarded or recoverable by Lessee reduced in Lessee’s own right on account of any and all damage proportion to the Terminal Facilities and/or Lessee’s business by reason amount of the condemnationpremises taken, including and Landlord shall, at its own cost and expense, make all necessary repairs or alterations to the basic building, store front, so as to constitute the remaining premises as a complete architectural unit. (Landlord's and Tenant's Damages): All damages awarded for such taking under power of eminent domain, whether for a whole or a part of the leased premises shall belong to and be the property of Landlord whether such damages shall be awarded as compensation for diminution in value to the leasehold or to the fee of the premises; provided, however, that Landlord shall not be entitled to the award made to Tenant for loss of value of any unexpired portion of the Termbusiness, depreciation to, and for or on account cost of any cost or loss to which Lessee might be put in removing Lessee’s personal property, removal of stock and fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premises.
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Eminent Domain. If the whole all or any substantial part, in Lessor’s discretion substantially all of the Premises should Building or Site, or the use and occupancy thereof, shall be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right the power of eminent domain, or if so much of the Building is taken under the power of eminent domain that Tenant is prevented from effectively using the Building for its intended purpose (ie., Tenant must relocate its heavy equipment or is otherwise prevented from using the laboratory area for its intended purpose), Landlord or Tenant may, at any time after the entry of the verdict or order for such taking, terminate this Lease by private purchase not less than thirty (30) days notice in lieu thereof (writing to the other. All damages and compensation awarded for any taking under the power of eminent domain shall belong to and be the property of Landlord, whether such damages or compensation be awarded for the leasehold or the fee or other interest of Landlord or Tenant in the Premises; provided, however, that Landlord shall not be entitled to any award made for Tenant’s loss of business, the removal of Tenant’s property or Tenant’s relocation costs. If all the Building and Site shall be taken under the power of eminent domain, then the term of this Lease shall cease as of the day actual possession shall be taken by such power and the rent shall be paid up to that day with a “Taking”)pro rata refund by Landlord of any prepaid rent. If a portion of the Premises is taken by eminent domain, this Lease shall terminate only as to that part so taken as of the day possession shall be taken by such public authority, and thereafter, all the terms herein shall continue in effect, except the Base Annual Rent shall be abated during reduced in proportion to the unexpired portion amount of this Lease, effective when the physical taking Building area of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisesso taken.
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Eminent Domain. If the whole or any substantial part, in Lessor’s discretion of the Premises should be taken Leased Property is condemned for any public use or quasi-public use under governmental law, ordinance or regulation, or purpose by right of eminent domain, or by private purchase in lieu thereof (a “Taking”)any legally constituted authority, this Lease shall terminate cease from the date of such taking and rental shall be accounted for between the Landlord and the Rent shall be abated during Tenant as of the unexpired date of the surrender of possession. If any portion of this Leasethe Leased Property is so condemned and the property so taken shall make the Leased Property unsuitable for the purposes contemplated hereunder, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances. In the event of any such Taking, Lessor and Lessee shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings. Lessor shall be entitled to any award and all damages payable as a result of any condemnation or taking of the fee of the Premises. Lessee Tenant shall have the right to claim and recover from the condemning authorityterminate this Lease, but not from Lessor, such compensation effective as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss date of value of any unexpired such taking and the rental shall be similarly accounted for. If a portion of the TermLeased Property shall be taken and Tenant shall not so elect to terminate this Lease, the rental shall, from and after the date of taking be proportionately reduced in an amount equal to the portion of the Leased Property so taken and Landlord shall forthwith restore the remaining portion of the Leased Property to a complete architectural unit provided that the award received by Landlord as a result of such partial condemnation is sufficient for such restoration. Unless the condemnation award specifically allows or clearly implies that a portion thereof be allocated to Tenant for trade fixtures, alterations, additions, and improvements, moving expenses or other consequential damages, Tenant shall have no right of recovery against Landlord for or on account any portion of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the Premisessuch condemnation award.
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Eminent Domain. If the whole The Beneficiary is hereby authorized and empowered to settle, adjust or compromise any substantial part, in Lessor’s discretion of the Premises should be taken for and all claims and rights arising from any public eminent domain or quasi-public use under governmental law, ordinance condemnation action relating to part or regulation, or by right of eminent domain, or by private purchase in lieu thereof (a “Taking”), this Lease shall terminate and the Rent shall be abated during the unexpired portion of this Lease, effective when the physical taking of the Premises shall occur. If there is a Taking of less than a substantial part of the Premises, this Lease shall not terminate, but the Base Rent payable hereunder during the unexpired portion of this Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstancesProperty (or any interest therein) and to collect and receive the proceeds relating to or arising therefrom (collectively, the “Condemnation Proceeds”). Each entity which may hereafter exercise a power of eminent domain or condemnation with respect to part or all of the Property is hereby authorized and directed to pay Condemnation Proceeds directly to the Beneficiary, for the ratable benefit of the Secured Parties, instead of to the Grantor and the Beneficiary jointly. In the event any entity which may hereafter exercise a power of any eminent domain or condemnation with respect to part or all of the Property fails to disburse Condemnation Proceeds directly and solely to the Beneficiary but disburses such TakingCondemnation Proceeds instead either solely to the Grantor or to the Grantor and the Beneficiary jointly, Lessor the Grantor agrees to immediately endorse and Lessee shall each be entitled transfer such Condemnation Proceeds to receive the Beneficiary. Upon the failure of the Grantor to immediately endorse and retain transfer such separate awards and/or portion Condemnation Proceeds as aforesaid, the Beneficiary may execute such endorsements or transfers for and in the name of lump sum awards the Grantor, and the Grantor hereby irrevocably appoints the Beneficiary as may be allocated the Grantor’s agent and attorney-in-fact (such appointment being coupled with an interest) so to their respective interests in any condemnation proceedingsdo. Lessor The Condemnation Proceeds shall be entitled applied to any award the Loan Obligations to the extent required by, and all damages payable as a result of any condemnation or taking in the manner set forth in, Section 2.05(c)(iii) of the fee of the Premises. Lessee shall have the right to claim and recover from the condemning authority, but not from Lessor, such compensation as may be separately awarded or recoverable by Lessee in Lessee’s own right on account of any and all damage to the Terminal Facilities and/or Lessee’s business by reason of the condemnation, including loss of value of any unexpired portion of the Term, and for or on account of any cost or loss to which Lessee might be put in removing Lessee’s personal property, fixtures, leasehold improvements and equipment, including, without limitation, the Terminal Facilities, from the PremisesCredit Agreement.
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Samples: Amendment Agreement (Consolidated Communications Holdings, Inc.)