Common use of Less Than a Certain Percentage Taken Clause in Contracts

Less Than a Certain Percentage Taken. In the event of a partial taking of less than thirty percent (30%) of the area of the demised premises, Lessor shall, with reasonable diligence, proceed at its own expense to reconstruct or repair the demised premises and place the same in a rentable condition within sixty (60) days after the date of the actual physical taking; provided, however, that if thirty percent (30%) or more of the area of the building as a whole is taken. Lessor alternatively may elect to terminate this Lease notwithstanding that less than thirty percent (30%) of the area of the demised premises were taken. In the event of such termination the parties hereto shall be released from any and all further liability under this Lease.

Less Than a Certain Percentage Taken. In the event of a partial taking of less than thirty percent twenty-five (3025%) of the area of the demised premises, Lessor shall, with reasonable diligence, proceed at its own expense to reconstruct or repair the demised premises and place the same in a rentable tenantable condition within sixty ninety (6090) days after the date of the actual physical taking; , provided, however, that if thirty fifty percent (3050%) or more of the area of the building commercial center as a whole is taken. , Lessor alternatively may elect to terminate this Lease notwithstanding that less than thirty twenty-five percent (3025%) of the area of the demised premises were taken. In the event of such termination the parties hereto shall be released from any and all further liability under this Lease.