Partial Condemnation Without Termination Sample Clauses

Partial Condemnation Without Termination. Should Sublessee or Sublessor fail to exercise the termination option described in this Article, or should the portion of the Leased Premises taken under the power of eminent domain be insufficient to give rise to the option therein described, then, in that event: i. This Sublease shall terminate as to the portion of the Leased Premises taken by eminent domain as of the day (hereinafter called the “date of taking”), actual physical possession of that portion of the Leased Premises is taken by the agency or entity exercising the power of eminent domain; ii. Base Minimum Rent to be paid by Sublessee to Sublessor pursuant to the terms of this Sublease shall, after the date of taking, be reduced by an amount that bears the same ratio to the Base Minimum Rent specified in this Sublease as the square footage of the actual floor area of the Leased Premises taken under the power of eminent domain bears to the total square footage of floor area of the Leased Premises as of the date of this Sublease; and iii. Except to the extent the Master Lessor under the Master Lease is so obligated, Sublessee, at Sublessee's own cost and expense shall remodel and reconstruct the building remaining on the portion of the Leased Premises not taken by eminent domain into a single efficient architectural unit in accordance with plans mutually approved by the parties hereto as soon after the date of taking, or before, as can be reasonably done.

Partial Condemnation Without Termination. Should Lessee fail to exercise the option described in Section 7.06 of this lease, or should the portion of the Premises taken under the power of eminent domain be insufficient to give rise to the option described in Section 7.06 of this lease, then, in that event: A. This lease shall terminate as to the portion of the Premises taken by eminent domain as of 12:01 am on the day, herein called the "date of taking", actual physical possession of that portion of the Premises is taken by the agency or entity exercising the power of eminent domain. B. The rent specified in Article 2 of this lease shall, after the date of taking, be reduced by an amount that bears the same ratio to the rent specified in Article 2 of this lease as the square footage floor space of the prior of said premise taken under the power of eminent domain bears to the total square footage floor space of the Premises as of the date of this lease; and C. ▇▇▇▇▇▇, ▇▇ Lessor's own cost and expense, will remodel and reconstruct the building remaining on the portion of the Premises not taken by eminent domain into a single efficient architectural unit as soon after the date of taking, or before, as can be reasonable done; provided, however, that the rent specified in this lease shall not be abated or reduced, except as provided in subparagraph (B) of this section, during such remodeling or reconstruction.