Less Than Substantial Taking Sample Clauses

Less Than Substantial Taking. In the event of a less than Substantial Taking, the parties shall proceed to close this transaction without any delay and any proceeds actually received by Seller and attributable to the acquisition or condemnation, and any right Seller may have to receive proceeds attributable to the acquisition or condemnation shall be delivered or assigned to Purchaser at Closing (other than on account of business or rental interruption relating to the period prior to Closing but including all business or rental interruption relating to the period on or after Closing), and there shall be no reduction in the Purchase Price. Purchaser shall have the right to participate in any such proceedings, and Seller shall not settle any condemnation claim without obtaining Purchaser’s approval, which shall not be unreasonably withheld, delayed or conditioned.
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Less Than Substantial Taking. If any portion of the Demised Premises less than a substantial part thereof shall be taken or condemned or sold for public or quasi public use under any governmental law, ordinance or regulation, or by right of eminent domain or by purchase in lieu thereof, then this Lease shall not terminate except as to the part taken and shall terminate as to the part taken effective as of the date when title vests in any such authority. The Rent payable under this Lease during the unexpired portion of the Lease Term shall be adjusted to such an extent as may be fair and reasonable under the circumstances. Tenant shall have no claim to the condemnation award with respect to the leasehold estate but, in a subsequent, separate proceeding, may make a separate claim for trade fixtures installed in the Premises by and at the expense of Tenant and Tenant’s moving expense. In no event will Tenant have any claim for the value of the unexpired Lease Term.
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Less Than Substantial Taking. In the event a portion of the Premises shall be taken for any public or quasi-public use under any governmental law, ordinance or regulation, or by right of eminent domain or by purchase or exchange in lieu thereof, and the Term is not terminated as provided in subsection (a) above, Landlord may, at Landlord's option and at Landlord's expense, restore and reconstruct the Building and other improvements of which the Premises are a part to the extent necessary to make them reasonably tenantable, and the Rent for the remainder of the Term shall be abated to such extent as may be fair and reasonable considering all the circumstances.
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Less Than Substantial Taking. If less than substantially all of the Premises shall be so taken, this Lease and the Term shall continue as to the portion of the Premises remaining without diminution of any of Tenant’s obligations hereunder. Notwithstanding the immediately preceding sentence, Landlord and Tenant acknowledge and agree that, after any such taking of less than substantially all of the Premises, (i) the calculation of the Civic Facilities Payment pursuant to Section 26.05 shall take account of any change in the gross square feet of floor area in the Building that results from such taking and that is not reconstructed by Tenant and (ii) the calculation of PILOT pursuant to Section 3.02(b) shall take account of any change in the gross square footage of the Building or the assessed valuation of the Premises that results from such taking. Tenant, whether or not the award or awards, if any, shall be sufficient for the purpose, shall (subject to Unavoidable Delays) proceed diligently to Restore any remaining part of the Building not so taken so that the latter shall be a complete, operable, self-contained architectural unit in good condition and repair either (x) in accordance with the Design Guidelines (including any portion thereof relating to signage visible from the exterior of the Building but excluding any other portion thereof relating to the interior of the Building) and to the same primary use and to the same quality, height, bulk and setback of the Building existing immediately prior to such occurrence, based on plans and specifications prepared by Tenant and approved by Landlord in accordance with the provisions of Section 11.02 or (y) subject to Sections 11.02(e) and (f) and to the extent reasonably practicable, in accordance with the Construction Documents. In the event of any taking pursuant to this Section 9.03, the award shall be (i) first, made available to Tenant to the extent required for Restoration in accordance with the terms hereof; (ii) then, paid to Landlord to the extent attributable to the value of the Land so taken considered as unimproved and encumbered by, and taking into account the provisions of, this Lease (including the benefits accruing to Landlord herewith) and any improvements made by Landlord on the Premises so taken; (iii) then, paid to the Mortgagees, in accordance with the priority of their Mortgages, or to Tenant, if no Mortgage shall then exist, so much of the balance of such award as shall equal the lesser of (A) the unpaid principal ind...
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Less Than Substantial Taking 
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Related to Less Than Substantial Taking

  • Substantial Taking If the whole of the Premises, or such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises, as contemplated by this Lease, is taken for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or sold to prevent such taking, either party will have the right to terminate this Lease effective as of the date possession is required to be surrendered to such authority.

  • Partial Taking If any part of the Premises is taken and the remaining part after Landlord makes repairs and alterations is reasonably suitable, as reasonably determined by Landlord and Tenant, for Tenant’s continued occupancy for the purposes and uses permitted by this Lease, this Lease shall, as to the part so taken terminate as of the date that possession of such part of the Premises is taken and the Base Monthly Rental shall be reduced in the same proportion that the floor area of the portion of the Building so taken (less any addition thereto by reason of any reconstruction) bears to the original floor area of the Building. Tenant shall, at its sole cost and expense, make all necessary repairs or alterations to the Building so as to make the portion of the Building not taken a complete architectural unit in accordance with the terms and provisions of Section 19.4, Landlord shall make available to Tenant any condemnation proceeds it receives which are allocable to such portion of the Building in accordance with the terms and provisions of Section 19.4. Base Monthly Rental due and payable hereunder shall be temporarily abated during such restoration period in proportion to the degree to which Tenant’s use of Premises is impaired. Notwithstanding the foregoing, if more than twenty-five percent (25%) of the square footage of the Building is taken or sold under such threat, Landlord 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 Landlord has been notified of the taking or, in the absence thereof, within twenty (20) days after the condemning authority shall have taken possession.

  • Total Taking If the entire Building or Premises are taken by right of eminent domain or conveyed in lieu thereof (a “Taking”), this Lease shall terminate as of the date of the Taking.

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