Common use of Less Than Substantial Taking Clause in Contracts

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.

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 on or 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 's approval, which shall not be unreasonably withheld, delayed or conditioned.