Common use of Less Than Substantial Taking Clause in Contracts

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.

Appears in 1 contract

Samples: Lease Agreement (Secured Financial Network, Inc.)

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Less Than Substantial Taking. If any In the event a portion of the Demised Premises less than a substantial part thereof shall be is taken or condemned or sold for any public or quasi quasi-public use under any governmental law, ordinance or regulation, or by right of eminent domain or by purchase in lieu thereof, then and this Lease shall is not terminate except terminated as provided in paragraph A above, Landlord may, at Landlord’s expense, restore the Premises to the part taken and shall terminate as extent necessary to the part taken effective as of the date when title vests in any such authoritymake them reasonably tenantable. 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.

Appears in 1 contract

Samples: Office Lease (Universal Insurance Holdings, Inc.)

Less Than Substantial Taking. If any In the event a portion of the Demised Premises less than a substantial part thereof shall be is taken or condemned or sold for any public or quasi quasi-public use under any governmental law, ordinance or regulation, or by right of eminent domain or by purchase in lieu thereof, then and this Lease shall is not terminate except terminated as provided in paragraph A above, Landlord may, at Landlord's expense, restore the Premises to the part taken and shall terminate as extent necessary to the part taken effective as of the date when title vests in any such authoritymake them reasonably tenantable. 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 's moving expense. In no event will Tenant have any claim for the value of the unexpired Lease Term.

Appears in 1 contract

Samples: Office Lease (Talk Com)

Less Than Substantial Taking. If any In the event a portion of the Demised Premises less than a substantial part thereof shall be is taken or condemned or sold for any public or quasi quasi-public use under any governmental law, ordinance or regulation, or by right of eminent domain or by purchase in lieu thereof, then and this Lease shall is not terminate except terminated as provided in paragraph A above, Landlord may, at Landlord's expense, restore the Premises to the part taken and shall terminate as extent necessary to the part taken effective as of the date when title vests in any such authoritymake them reasonably tenantable. The Base Rent and Other 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 Tenants moving expense. In no event will Tenant have any claim for the value of the unexpired Lease Term.

Appears in 1 contract

Samples: Office Lease (Colonial Direct Financial Group Inc)

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Less Than Substantial Taking. If any In the event a portion of the Demised Premises less than a substantial part thereof shall be is taken or condemned or sold for any public or quasi quasi-public use under any governmental law, ordinance or regulation, or by right of eminent domain or by purchase in lieu thereof, then and this Lease shall is not terminate except terminated as provided in paragraph A above, Landlord may, at Landlord's expense, restore the Premises to the part taken and shall terminate as extent necessary to the part taken effective as of the date when title vests in any such authoritymake them reasonably tenantable. The Base Rent and Other 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 's moving expense. In no event will Tenant have any claim for the value of the unexpired Lease Term.

Appears in 1 contract

Samples: Office Lease (Vfinance Inc)

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