Common use of PARTIAL TAKING AND TERMINATION Clause in Contracts

PARTIAL TAKING AND TERMINATION. In the event of a partial taking or transfer, as provided in Section 18.01, if the remaining portion of the Premises is of such reduced shape or area as to, in Tenant's sole opinion, restrict the use, possession or operation of the Premises, then Tenant reserves the right to terminate this Lease, at Tenant's sole and reasonable discretion, without liability therefor, at any time after the Taking Date, by thirty (30) days written notice to Landlord, and upon such termination date, this Lease shall cease and terminate.

Appears in 2 contracts

Sources: Lease Agreement (Petro Stopping Centers Holdings Lp), Lease Agreement (Petro Stopping Centers L P)

PARTIAL TAKING AND TERMINATION. In the event of a partial taking or transfer, as provided in Section 18.01, if the remaining portion of the Premises is of such reduced shape or area as to, in Tenant's sole opinion, to materially restrict the use, possession or operation of the Premises, then Tenant reserves the right to terminate this Lease, at Tenant's sole and reasonable discretion, without liability therefor, at any time after the Taking Date, by thirty (30) days written notice to Landlord, and upon such termination date, this Lease shall cease and terminate.

Appears in 2 contracts

Sources: Lease Agreement (Petro Stopping Centers L P), Lease Agreement (Petro Stopping Centers Holdings Lp)

PARTIAL TAKING AND TERMINATION. In the event of a partial taking or transfer, as provided in Section 18.01, if the remaining portion of the Premises is of such reduced shape or area as to, in Tenant's sole opinion, to materially restrict the use, possession or operation of the Premises, then Tenant reserves the right to terminate this Lease, at Tenant's ’s sole and reasonable discretion, without liability therefor, at any time after the Taking Date, by thirty ninety (3090) days written notice to Landlord, and upon such termination date, this Lease shall cease and terminate.

Appears in 1 contract

Sources: Lease Agreement (Petro Stopping Centers L P)

PARTIAL TAKING AND TERMINATION. In the event of a partial taking or transfer, as provided in Section 18.01, if the remaining portion of the Premises is of such reduced shape or area as to, in Tenant's sole opinion, to materially restrict the use, possession or operation of the Premises, then Tenant reserves the right to terminate this Lease, at Tenant's ’s sole and reasonable discretion, without liability therefor, at any time within one hundred and eighty (180) days after the Taking Date, by thirty ninety (3090) days written notice to Landlord, and upon such termination date, this Lease shall cease and terminate.

Appears in 1 contract

Sources: Sublease Agreement (Petro Stopping Centers L P)