Landlord’s Termination Right – Partial Taking Clause Samples
The 'Landlord’s Termination Right – Partial Taking' clause gives the landlord the right to terminate the lease if a portion of the leased property is taken by eminent domain or similar government action. Typically, this clause applies when the partial taking significantly impairs the landlord’s ability to operate or lease the remaining premises, such as when essential access points or a substantial portion of the building are affected. Its core function is to protect the landlord from being bound to a lease for a property that can no longer be used as intended, thereby allocating risk and providing a clear exit mechanism in the event of a partial taking.
Landlord’s Termination Right – Partial Taking. If the part of the Building or the Property that is taken or condemned as part of the Taking contains a part of the Tenant Space, the Building or the Property that, in Landlord’s reasonable discretion, is material to the operation of the Tenant Space, Landlord may terminate this Lease by notice to Tenant given within sixty (60) days following the date upon which Landlord received notice of such Taking. If Landlord so notifies Tenant, this Lease shall terminate upon the date set forth in the notice, which date shall not be more than thirty (30) days following the giving of such notice.
Landlord’s Termination Right – Partial Taking. If the part of the Building or the Property that is taken or condemned as part of the Taking contains a part of the Tenant Space, the Building or the Property that, in Landlord's reasonable discretion, is material to Landlord's ability to provide services to, or otherwise satisfy Landlord's obligations with respect to, the Tenant Space as provided for herein, Landlord may terminate this Lease by notice to Tenant given within [*****] following the date upon which Landlord received notice of such Taking. If Landlord so notifies Tenant, this Lease shall terminate upon the date set forth in the notice, which date shall not be more than [*****] following the giving of such notice.