Common use of Insubstantial Taking Clause in Contracts

Insubstantial Taking. If a portion of the Premises is taken and Section 10.2 does not apply, then this Lease will automatically terminate on the date of the Taking only as to the portion of the Premises taken and this Lease will continue in full force and effect with respect to the remaining portion of the Premises with Base Rent proportionately reduced. In such event, any partial Taking award shall be paid first to the Tenant in an amount equal to the greater of (i) the unamortized cost of any Improvements constructed by Tenant on the portion of the Premises subject to the Taking; or (ii) the amount necessary to discharge or, if such amount is insufficient, to reduce any Permitted Institutional Mortgage. The balance, if any, of the Taking award shall be paid to Landlord.

Insubstantial Taking. If a portion of the Premises is taken and Section 10.2 12.2 does not apply, then this Lease will automatically terminate on the date of the Taking only as to the portion of the Premises taken Taken and this Lease will continue in full force and effect with respect to the remaining portion of the Premises with Base Rent proportionately reduced. In such event, any partial Taking award and any relocation benefits, if any, shall be paid first to the Tenant in an amount equal to the greater of (i) the unamortized cost of any Improvements constructed by Tenant on the portion of the Premises subject to the Taking; or (ii) the amount necessary to discharge or, if such amount is insufficient, to reduce any Permitted Institutional Mortgage. The balance, if any, of the Taking award shall be paid to Landlord.

Insubstantial Taking. If a portion of the Premises is taken and Section 10.2 does not apply, then this Lease will automatically terminate on the date of the Taking only as to the portion of the Premises taken Taken and this Lease will continue in full force and effect with respect to the remaining portion of the Premises with Base Rent proportionately reducedPremises. In such event, any partial Taking award shall be paid first to the Tenant in an amount equal to the greater of (i) the unamortized cost of any Improvements constructed by Tenant on the portion of the Premises subject to the Taking; or (ii) the amount necessary to discharge or, if such amount is insufficient, to reduce any Permitted Institutional Mortgage. The balance, if any, of the Taking award shall be paid to Landlordthe Town.

Insubstantial Taking. If a portion of the Premises is taken and Section 10.2 does 11.does not apply, then this Lease will automatically terminate on the date of the Taking only as to the portion of the Premises taken Taken and this Lease will continue in full force and effect with respect to the remaining portion of the Premises with Base Rent proportionately reduced. In such event, any partial Taking award shall be paid first to the Tenant in an amount equal to the greater of (i) the unamortized cost of any Improvements constructed by Tenant on the portion of the Premises subject to the Taking; or (ii) the amount necessary to discharge or, if such amount is insufficient, to reduce any Permitted Institutional Mortgage. The balance, if any, of the Taking award shall be paid to the Landlord.