Common use of LESSEE’S TERMINATION Clause in Contracts

LESSEE’S TERMINATION. If the whole of or any substantial part of the Premises is taken by any public authority under the power of eminent domain, or taken in any manner for any public or quasi-public use, so as to render (in Lessee's reasonable judgment) the remaining portion of the Premises unsuitable for the purposes intended hereunder, then the term of this Lease shall cease as of the day possession shall be taken by such public authority and Lessor shall make a pro rata refund of any prepaid rent. All damages awarded for such taking under the power of eminent domain or any like proceedings shall belong to and be the property of Lessor, Lessee hereby assigning to Lessor its interest, if any, in said award; provided, however, Lessor shall have no interest in any award made to Lessee for loss of business or goodwill. In the event that fifty percent (50%) or more of the building area or fifty percent (50%) or more of the value of the Office Complex is taken by public authority under the power of eminent domain, then either party may terminate this Lease by delivering, within sixty (60) days after possession is taken, written notice thereof to the other party, which termination shall be effective as of the date ninety (90) days after such termination notice is given.