Partial Condemnation. If any portion of the Premises is taken by condemnation during the Lease Term, whether by exercise of governmental power or the sale for transfer by Lessor to an condemnor under threat of condemnation or while proceedings for condemnation are pending, this Lease shall remain in full force and effect except that in the event a partial taking leaves the Premises unfit for the conduct of the business of Lessee, then Lessee shall have the right to terminate this Lease effective upon the date transfer of possession is required. Moreover, Lessor shall have the right to terminate this Lease effective on the date transfer of possession is required if more than thirty-three percent (33%) of the total square footage of the Premises is taken by condemnation. Lessee and Lessor may elect to exercise their respective rights to terminate this Lease pursuant to this Section by serving written notice to the other within thirty (30) days after receipt of notice of condemnation. All rent shall be paid up to the date of termination, and Lessee shall have no claim against Lessor for the value of any unexpired portion of the Lease Term. If this Lease shall not be canceled, the rent after such partial taking shall be that percentage of the adjusted base rent specified herein, equal to the percentage which the square footage of the untaken part of the Premises, immediately after the taking, bears to the square footage of the entire Premises immediately before the taking. If Lessee's continued use of the Premises requires alterations and repair by reason of a partial taking, all such alterations and repair shall be made by Lessee at Lessee's expense. Lessee waives all rights it may have under California Code of Civil Procedure Section 1265.130 or otherwise, to terminate this Lease based on partial condemnation.
Appears in 7 contracts
Samples: Triple Net Building Lease (Broadvision Inc), Triple Net Building Lease (Informatica Corp), Triple Net Building Lease (Informatica Corp)
Partial Condemnation. If any portion of the Premises is taken by condemnation during the Lease Term, whether by exercise of governmental power or the sale for transfer by Lessor to an condemnor under threat of condemnation or while proceedings for condemnation are pending, this Lease shall remain in full force and effect except that in the event a partial taking leaves the Premises unfit for the conduct of the business of Lessee, then Lessee shall have the right to terminate this Lease effective upon the date transfer of possession is required. Moreover, Lessor shall have the right to terminate this Lease effective on the date transfer of possession is required if more than thirty-three percent (33%) of the total square footage of the Premises is taken by condemnation. Lessee and Lessor may elect to exercise their respective rights to terminate this Lease pursuant to this Section by serving written notice to the other within thirty (30) days after receipt of notice of condemnation. All rent shall be paid up to the date of termination, and Lessee shall have no claim against Lessor for the value of any unexpired portion of the Lease Term. If this Lease shall not be canceled, the rent after such partial taking shall be that percentage of the adjusted base rent specified herein, equal to the percentage which the square footage of the untaken part of the Premises, immediately after the taking, bears to the square footage of the entire Premises immediately before the taking. If Lessee's ’s continued use of the Premises requires alterations and repair by reason of a partial taking, all such alterations and repair shall be made by Lessee at Lessee's ’s expense. Lessee waives all rights it may have under California Code of Civil Procedure Section 1265.130 or otherwise, to terminate this Lease based on partial condemnation.
Appears in 5 contracts
Samples: Sublease Agreement (Openwave Systems Inc), Sublease (Supportsoft Inc), Sublease (PDL Biopharma, Inc.)
Partial Condemnation. If any portion of the Premises is ------------------------------------ taken by condemnation during the Lease Term, whether by exercise of governmental power or the sale for transfer by Lessor to an condemnor under threat of condemnation or while proceedings for condemnation are pending, this Lease shall remain in full force and effect except that in the event a partial taking leaves the Premises unfit for the conduct of the business of Lessee, then Lessee shall have the right to terminate this Lease effective upon the date transfer of possession is required. Moreover, Lessor shall have the right to terminate this Lease effective on the date transfer of possession is required if more than thirty-three percent (33%) of the total square footage of the Premises is taken by condemnation. Lessee and Lessor may elect to exercise their respective rights to terminate this Lease pursuant to this Section by serving written notice to the other within thirty (30) days after receipt of notice of condemnation. All rent shall be paid up to the date of termination, and Lessee shall have no claim against Lessor for the value of any unexpired portion of the Lease Term. If this Lease shall not be canceled, the rent after such partial taking shall be that percentage of the adjusted base rent specified herein, equal to the percentage which the square footage of the untaken part of the Premises, immediately after the taking, bears to the square footage of the entire Premises immediately before the taking. If Lessee's continued use of the Premises requires alterations and repair by reason of a partial taking, all such alterations and repair shall be made by Lessee at Lessee's expense. Lessee waives all rights it may have under California Code of Civil Procedure Section 1265.130 or otherwise, to terminate this Lease based on partial condemnation.
Appears in 3 contracts
Samples: Triple Net Building Lease (At Home Corp), Triple Net Building Lease (Phone Com Inc), Triple Net Building Lease (At Home Corp)
Partial Condemnation. If Except as otherwise provided in this Section 13.02, if any portion of the Premises is taken by condemnation during the Lease Term, Term (whether by exercise of governmental power or the sale for or transfer by Lessor Landlord to an any condemnor under threat of condemnation or while proceedings for condemnation are pending), then this Lease shall remain in full force and effect except that in as to the event portion not taken. If more than thirty-three percent (33%) of the total Rentable Area of the Premises is taken by condemnation, or if a partial taking leaves the Premises unfit for the conduct of the business of LesseeTenant’s business, then Lessee Tenant shall have the right to terminate this Lease effective upon as of the date transfer of possession is required. MoreoverIn addition, Lessor shall have the right to terminate this Lease effective on the date transfer of possession is required if more than thirty-three percent (33%) of the total square footage Rentable Area of the Premises is taken by condemnation, then Landlord shall have the right to terminate this Lease effective as of the date transfer of possession is required. Lessee Tenant and Lessor Landlord may elect to exercise their respective rights to terminate this Lease pursuant to this Section 13.02, if at all, by serving delivering written notice to the other party within thirty (30) days after receipt of notice of such condemnation. All rent Rent shall be paid up to the date of termination, and Lessee Tenant shall have no claim against Lessor Landlord for the value of any the unexpired portion of the Lease Term. If this Lease shall not be canceledterminated, then the rent after such partial taking Rent reserved herein shall be that percentage prorated on the basis the of the adjusted base rent specified herein, equal Rentable Area of the portion of the Premises retained by Tenant in proportion to the percentage which Rentable Area contained in the square footage of the untaken part of the Premises, Premises immediately after the taking, bears prior to the square footage of the entire Premises immediately before the partial taking. If Lessee's Tenant’s continued use of the Premises requires alterations and repair by reason of a partial taking, all such alterations and repair shall be made by Lessee Tenant at Lessee's Tenant’s expense. Lessee Tenant waives all rights it may have under California Code of Civil Procedure Section Sections 1263.260 and 1265.130 or otherwise, to terminate this Lease based on partial condemnation.
Appears in 2 contracts
Samples: Triple Net Space Lease (Cloudera, Inc.), Triple Net Space Lease (Cloudera, Inc.)
Partial Condemnation. If Except as otherwise provided in this Section 13.02, if any portion of the Premises is taken by condemnation during the Lease Term, Term (whether by exercise of governmental power or the sale for or transfer by Lessor Landlord to an any condemnor under threat of condemnation or while proceedings for condemnation are pending), then this Lease shall remain in full force and effect except that in effect. If more than thirty-three percent (33%) of the event total Rentable Area of the Premises is taken by condemnation, or if a partial taking leaves the Premises unfit for the conduct of the business of LesseeTenant’s business, then Lessee Tenant shall have the right to terminate this Lease effective upon as of the date transfer of possession is required. MoreoverIn addition, Lessor shall have the right to terminate this Lease effective on the date transfer of possession is required if more than thirty-three percent (33%) of the total square footage Rentable Area of the Premises is taken by condemnation, then Landlord shall have the right to terminate this Lease effective as of the date transfer of possession is required. Lessee Tenant and Lessor Landlord may elect to exercise their respective rights to terminate this Lease pursuant to this Section 13.02, if at all, by serving delivering written notice to the other party within thirty (30) days after receipt of notice of such condemnation. All rent Rent shall be paid up to the date of termination, and Lessee Tenant shall have no claim against Lessor Landlord for the value of any the unexpired portion of the Lease Term. If this Lease shall not be canceledterminated, then the rent after such partial taking Rent reserved herein shall be that percentage prorated on the basis the of the adjusted base rent specified herein, equal Rentable Area of the portion of the Premises retained by Tenant in proportion to the percentage which Rentable Area contained in the square footage of the untaken part of the Premises, Premises immediately after the taking, bears prior to the square footage of the entire Premises immediately before the partial taking. If Lessee's Tenant’s continued use of the Premises requires alterations and repair by reason of a partial taking, all such alterations and repair shall be made by Lessee at Lessee's expenseLandlord to the extent of any award received by Landlord in connection with such partial taking. Lessee Tenant waives all rights it may have under California Code of Civil Procedure Section 1265.130 or otherwise, to terminate this Lease based on partial condemnation.
Appears in 2 contracts
Samples: Triple Net Space Lease, Triple Net Space Lease (Imprivata Inc)
Partial Condemnation. If any portion of the Premises is taken by condemnation Condemnation during the Lease Term, whether by exercise of governmental power or the sale for transfer by Lessor to an condemnor under threat of condemnation or while proceedings for condemnation are pending, this Lease shall remain in full force and effect effect; except that in the event if a partial taking leaves the Premises unfit unsuitable for the conduct of the business of Lesseeoccupation, then Lessee shall have the right to Tenant may terminate this Lease effective upon on the date transfer of possession is requiredrequired unless Landlord makes other comparable arrangements for Tenant's space. Moreover, Lessor Landlord and Tenant shall each have the right to terminate this Lease effective on the date transfer of possession is required if in the event of Condemnation of more than thirty-three percent (33%) 25% of the total square footage floor area of the Premises is taken by condemnationPremises. Lessee and Lessor The parties may elect to exercise their respective rights to terminate this Lease pursuant to this Section by serving written notice to the other within thirty (30) days after 30 Days of their receipt of notice of condemnation, except that Tenant's notice shall be ineffective if Landlord serves notice upon Tenant of Landlord's election to provide alternate space equivalent to that condemned within 10 Days of Tenant's delivery of notice to Landlord pursuant to this paragraph. Tenant shall have the right of approval of replacement space. All rent and other obligations of Tenant under this Lease shall be paid up to the date of termination, and Lessee Termination; Tenant shall have no claim against Lessor Landlord for the value of any unexpired portion of the Lease Term. If this Lease shall is not be canceled, the rent canceled after such partial taking shall be that percentage of the adjusted base rent specified herein, equal to the percentage which the square footage of the untaken part of the Premises, immediately after the taking, bears to the square footage of the entire Premises immediately before the taking. If Lessee's continued use of the Premises requires alterations and repair by reason of a partial taking, all such alterations Base Monthly Rent and repair Tenant's Pro Rata Share shall be made by Lessee at Lessee's expenseadjusted to reflect the net change in the floor area of the Premises. Lessee Tenant waives all rights it may have under California Code of Civil Procedure Section 1265.130 or otherwise, to terminate this Lease based on partial condemnation1265.
Appears in 1 contract
Samples: Industrial Gross Lease (Pixar \Ca\)
Partial Condemnation. If any portion of the Premises is taken by condemnation during the Lease Term, whether by exercise of governmental power or the sale for transfer by Lessor to an condemnor under threat of condemnation or while proceedings for condemnation are pending, this Lease shall remain in full force and effect except that in the event a partial taking (i) is more than thirty-three percent (33%) of the total square footage of the Premises or more than twenty-five percent (25%) of the available parking for Lessee; or (ii) leaves the Premises unfit for the conduct of the business of Lessee, then Lessee shall have the right to terminate this Lease effective upon the date transfer of possession is required. Moreover, Lessor shall have the right to terminate this Lease effective on the date transfer of possession is required if more than thirty-three percent (33%) of the total square footage of the Premises is taken by condemnation. Lessee and Lessor may elect to exercise their respective rights to terminate this Lease pursuant to this Section by serving written notice to the other within thirty (30) days after receipt of notice of condemnation. All rent shall be paid up to the date of termination, and Lessee shall have no claim against Lessor for the value of any unexpired portion of the Lease Term. If this Lease shall not be canceledterminated, , the rent after such partial taking shall be that percentage of the adjusted base rent Base Rent specified herein, equal to the percentage which the square footage of the untaken part of the Premises, immediately after the taking, bears to the square footage of the entire Premises immediately before the taking. If Lessee's ’s continued use of the Premises requires alterations and repair by reason of a partial taking, all such alterations and repair shall be made by Lessee at Lessee's ’s expense. Lessee waives all rights it may have under California Code of Civil Procedure Section 1265.130 or otherwise, to terminate this Lease based on partial condemnation.
Appears in 1 contract
Samples: Triple Net Space Lease (Threshold Pharmaceuticals Inc)
Partial Condemnation. If any portion of the Premises is taken by condemnation during the Lease Term, whether by exercise of governmental power or the sale for transfer by Lessor to an condemnor under threat of condemnation or while proceedings for condemnation are pending, this Lease shall remain in full force and effect except that in the event a partial taking leaves the Premises unfit for the conduct of the business of Lessee, then Lessee shall have the right to terminate this Lease effective upon the date transfer of possession is required. Moreover, Lessor shall have the right to terminate this Lease effective on the date transfer of possession is required if more than thirty-three percent (33%) of the total square footage of the Premises is taken by condemnation. Lessee and Lessor may elect to exercise their respective rights to terminate this Lease pursuant to this Section by serving written notice to the other within thirty (30) days after receipt of notice of condemnation. All rent shall be paid up to the date of termination, and Lessee shall have no claim against Lessor for the value of any unexpired portion of the Lease Term. If this Lease shall not be canceled, the rent after such partial taking shall be that percentage of the adjusted base rent Base Rent specified herein, equal to the percentage which the square footage of the untaken part of the Premises, immediately after the taking, bears to the square footage of the entire Premises immediately before the taking. If Lessee's ’s continued use of the Premises requires alterations and repair by reason of a partial taking, all such alterations and repair shall be made by Lessee at Lessee's ’s expense. Lessee waives all rights it may have under California Code of Civil Procedure Section 1265.130 or otherwise, to terminate this Lease based on partial condemnation.
Appears in 1 contract
Partial Condemnation. If any portion of the Premises is taken by condemnation Condemnation during the Lease Term, whether by exercise of governmental power or the sale for transfer by Lessor to an condemnor under threat of condemnation or while proceedings for condemnation are pending, this Lease shall remain in full force and effect effect; except that in the event if a partial taking leaves the Premises unfit unsuitable for the conduct of the business of Lesseeoccupation, then Lessee shall have the right to Tenant may terminate this Lease effective upon on the date transfer of possession is requiredrequired unless Landlord makes other comparable arrangements for Tenant's space. Moreover, Lessor Landlord and Tenant shall each have the right to terminate this Lease effective on the date transfer of possession is required if in the event of Condemnation of more than thirty-three percent (33%) 25% of the total square footage floor area of the Premises is taken by condemnationPremises. Lessee and Lessor The parties may elect to exercise their respective rights to terminate this Lease pursuant to this Section by serving written notice to the other within thirty (30) days after 30 Days of their receipt of notice of condemnation, except that Tenant's notice shall be ineffective if Landlord serves notice upon Tenant of Landlord's election to provide alternate space equivalent to that condemned within 10 Days of Tenant's delivery of notice to Landlord pursuant to this paragraph. Tenant shall have the right of approval of replacement space. All rent and other obligations of Tenant under this Lease shall be paid up to the date of termination, and Lessee Termination; Tenant shall have no claim against Lessor Landlord for the value of any unexpired portion of the Lease Term. If this Lease shall is not be canceled, the rent canceled after such partial taking shall be that percentage of the adjusted base rent specified herein, equal to the percentage which the square footage of the untaken part of the Premises, immediately after the taking, bears to the square footage of the entire Premises immediately before the taking. If Lessee's continued use of the Premises requires alterations and repair by reason of a partial taking, all such alterations Base Monthly Rent and repair Tenant's Pro Rata Share shall be made by Lessee at Lessee's expenseadjusted to reflect the net change in the floor area of the Premises. Lessee Tenant waives all rights it may have under California Code of Civil Procedure Section 1265.130 or otherwise, to terminate this Lease based on partial condemnation1265.130.
Appears in 1 contract
Samples: Triple Net Laboratory Lease (Sangamo Biosciences Inc)
Partial Condemnation. If any portion of the Premises is ------------------------------------ taken by condemnation during the Lease Term, whether by exercise of governmental power or the sale for transfer by Lessor to an condemnor under threat of condemnation or while proceedings for condemnation are pending, this Lease shall remain in full force and effect except that in the event a partial taking leaves the Premises unfit for the conduct of the business of Lessee, then Lessee shall have the right to terminate this Lease effective upon the date transfer of possession is required. Moreover, Lessor shall have the right to terminate this Lease effective on the date transfer of possession is required if more than thirty-three percent (33%) of the total square footage of the Premises is taken by condemnation. Lessee and Lessor may elect to exercise their respective rights to terminate this Lease pursuant to this Section by serving written notice to the other within thirty (30) days after receipt of notice of condemnation. All rent shall be paid up to the date of termination, and Lessee shall have no claim against Lessor for the value of any , unexpired portion of the Lease Term. If this Lease shall not be canceled, the rent after such partial taking shall be that percentage of the adjusted base rent specified herein, equal to the percentage which the square footage of the untaken part of the Premises, immediately after the taking, bears to the square footage of the entire Premises immediately before the taking. If Lessee's continued use of the Premises requires alterations and repair by reason of a partial taking, all such alterations and repair shall be made by Lessee at Lessee's expense. Lessee waives all rights it may have under California Code of Civil Procedure Section 1265.130 or otherwise, to terminate this Lease based on partial condemnation.
Appears in 1 contract
Samples: Sublease (Interwoven Inc)
Partial Condemnation. If any portion Except as otherwise provided in this Section 23(b), if less than all of the Premises is taken by condemnation during the Lease Term, Term (whether by exercise of governmental power or the sale for or transfer by Lessor Landlord to an any condemnor under threat of condemnation or while proceedings for condemnation are pending), then this Lease shall remain in full force and effect except that in and the event a partial taking leaves Rent reserved herein shall be prorated on the basis of the rentable area of the portion of the Premises unfit not taken by the condemning authority in proportion to the rentable area of the Premises immediately prior to the partial taking. Notwithstanding the foregoing, if fifteen percent (15%) or more of the rentable area of the Premises is taken and if the Premises remaining after such condemnation and any repairs by Landlord would render the remaining portion of the Premises unsuitable for the conduct use being made of the business of LesseePremises immediately prior the partial taking, then Lessee Landlord and Tenant both shall have shall have the right to terminate this Lease effective upon the date transfer of possession is required. Moreover, Lessor shall have the right to terminate this Lease effective on the date transfer of possession is required if more than thirty-three percent (33%) of the total square footage of the Premises is taken by condemnation. Lessee and Lessor may elect to exercise their respective rights to terminate this Lease pursuant to this Section by serving written notice to the other party given within the period which begins on the date effective title vests in the condemning party and ends thirty (30) days after receipt of notice of condemnation. All rent shall be paid up to the date of termination, and Lessee shall have no claim against Lessor for the value of any unexpired portion of the Lease Termthereafter. If this Lease shall not be canceled, the rent after such partial taking shall be that percentage of the adjusted base rent specified herein, equal to the percentage which the square footage of the untaken part of the Premises, immediately after the taking, bears to the square footage of the entire Premises immediately before the taking. If Lessee's Tenant’s continued use of the Premises requires alterations and or repair by reason of a partial taking, all such alterations and repair shall be made by Lessee Landlord at Lessee's Landlord’s expense. Lessee Tenant waives all rights it may have under California Code of Civil Procedure Section 1265.130 or otherwise, to terminate this Lease based on partial condemnation.
Appears in 1 contract
Samples: Lease Agreement (Synopsys Inc)
Partial Condemnation. If any portion less than the whole of the Premises is so taken, this Lease shall be unaffected by such taking, except that (a) Landlord and Tenant shall each have the right to terminate this Lease by notice to the other given within ninety (90) days after the date of such taking if twenty-five percent (25%) or more of the Premises is taken by condemnation during and the Lease Term, whether by exercise remaining area of governmental power or the sale for transfer by Lessor to an condemnor under threat of condemnation or while proceedings for condemnation are pending, this Lease shall remain in full force and effect except that in the event a partial taking leaves the Premises unfit is not reasonably sufficient for the conduct Tenant to continue operation of the business of Lessee, then Lessee its business; and (b) Landlord shall have the right to terminate this Lease effective upon by notice to Tenant given within ninety (90) days after the date transfer of possession is requiredsuch taking if such taking renders the remainder of the Project unusable as a multi-tenant office park. Moreover, Lessor shall have the right If either Landlord or Tenant so elects to terminate this Lease, this Lease effective shall terminate on the thirtieth (30th) day after either such notice. Rent shall be prorated to the date transfer of possession is required if more than thirty-three percent (33%) of such termination. If this Lease continues in force upon such partial taking, the total square footage Base Rent and Tenant’s Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the Premises is taken by condemnationand the Project. Lessee This Lease shall be considered an express agreement governing any condemnation of the Premises, the Building or the Project, and Lessor may elect to exercise their respective Tenant agrees that its rights to terminate this Lease pursuant to are governed by this Section by serving written notice to the other within thirty (30) days after receipt of notice of condemnationArticle. All rent shall be paid up to the date of terminationTenant hereby waives, releases and Lessee shall have no claim against Lessor for the value of any unexpired portion of the Lease Term. If this Lease shall not be canceled, the rent after such partial taking shall be that percentage of the adjusted base rent specified herein, equal to the percentage which the square footage of the untaken part of the Premises, immediately after the taking, bears to the square footage of the entire Premises immediately before the taking. If Lessee's continued use of the Premises requires alterations and repair by reason of a partial taking, all such alterations and repair shall be made by Lessee at Lessee's expense. Lessee waives relinquishes all rights it may have to terminate this Lease following a condemnation under Section 1265.130 of the California Code of Civil Procedure Section 1265.130 Procedure, or otherwise, to terminate this Lease based on partial condemnationany similar Laws now or hereafter in effect.
Appears in 1 contract
Partial Condemnation. If any portion of the Premises is ----------------------------------- taken by condemnation during the Lease Term, whether by exercise of governmental power or the sale for transfer by Lessor to an condemnor under threat of condemnation or while proceedings for condemnation are pending, this Lease shall remain in full force and effect except that in the event a partial taking leaves the Premises unfit for the conduct of the business of Lessee, then Lessee shall have the right to terminate this Lease effective upon the date transfer of possession is required. Moreover, Lessor shall have the right to terminate this Lease effective on the date transfer of possession is required if more than thirty-three percent (33%) of the total square footage of the Premises is taken by condemnation. Lessee and Lessor may elect to exercise their respective rights to terminate this Lease pursuant to this Section by serving written notice to the other within thirty (30) days after receipt of notice of condemnation. All rent shall be paid up to the date of termination, and Lessee shall have no claim against Lessor for the value of any unexpired portion of the Lease Term. If this Lease shall not be canceled, the rent after such partial taking shall be that percentage of the adjusted base rent specified herein, equal to the percentage which the square footage of the untaken part of the Premises, immediately after the taking, bears to the square footage of the entire Premises immediately before the taking. If Lessee's continued use of the Premises requires alterations and repair by reason of a partial taking, all such alterations and repair shall be made by Lessee at Lessee's expense. Lessee waives all rights it may have under California Code of Civil Procedure Section 1265.130 or otherwise, to terminate this Lease based on partial condemnation.
Appears in 1 contract
Partial Condemnation. If any portion less than the whole of the Premises is so taken, this Lease shall be unaffected by such taking, except that (a) Landlord and Tenant shall each have the right to terminate this Lease by notice to the other given within ninety (90) days after the date of such taking if twenty-five percent (25%) or more of the Premises is taken by condemnation during and the Lease Term, whether by exercise remaining area of governmental power or the sale for transfer by Lessor to an condemnor under threat of condemnation or while proceedings for condemnation are pending, this Lease shall remain in full force and effect except that in the event a partial taking leaves the Premises unfit is not reasonably sufficient for the conduct Tenant to continue operation of the business of Lessee, then Lessee its business; and (b) Landlord shall have the right to terminate this Lease effective upon by notice to Tenant given within ninety (90) days after the date transfer of possession is requiredsuch taking if such taking renders the remainder of the Project unusable as a multi-tenant office park. Moreover, Lessor shall have the right If either Landlord or Tenant so elects to terminate this Lease, this Lease effective shall terminate on the thirtieth (30th) day after either such notice. Rent shall be prorated to the date transfer of possession is required if more than thirty-three percent (33%) of such termination. If this Lease continues in force upon such partial taking, the total square footage Base Rent and Tenant’s Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the Premises is taken by condemnationand the Project. Lessee This Lease shall be considered an express agreement governing any condemnation of the Premises, any Building or the Project, and Lessor may elect to exercise their respective Tenant agrees that its rights to terminate this Lease pursuant to are governed by this Section by serving written notice to the other within thirty (30) days after receipt of notice of condemnationArticle. All rent shall be paid up to the date of terminationTenant hereby waives, releases and Lessee shall have no claim against Lessor for the value of any unexpired portion of the Lease Term. If this Lease shall not be canceled, the rent after such partial taking shall be that percentage of the adjusted base rent specified herein, equal to the percentage which the square footage of the untaken part of the Premises, immediately after the taking, bears to the square footage of the entire Premises immediately before the taking. If Lessee's continued use of the Premises requires alterations and repair by reason of a partial taking, all such alterations and repair shall be made by Lessee at Lessee's expense. Lessee waives relinquishes all rights it may have to terminate this Lease following a condemnation under Section 1265.130 of the California Code of Civil Procedure Section 1265.130 Procedure, or otherwise, to terminate this Lease based on partial condemnationany similar Laws now or hereafter in effect.
Appears in 1 contract