Partial Taking - Continuation. In the event of such taking or transfer of only a part of the Leased Premises leaving the remainder of the Leased Premises in such location and in such form, shape, or size as to be used effectively and practicably in the opinion of EDNC for the operation of the EDNC Baytown Plant, this Ground Lease shall terminate as to the portion of the Leased Premises so taken or transferred as of the date title to such portion vests in the condemning authority, but shall continue in full force and effect as to the portion of the Leased Premises not so taken or transferred. The proceeds of such partial taking shall first be distributed to EDNC (or, during the term of the Operative Agreements, the owner of the Leasehold Improvements) in an amount sufficient to compensate EDNC for the then-existing market value of the Leasehold Improvements taken and any relocation expenses for Leasehold Improvements not taken. All excess, if any, shall be distributed to Bayer.
Partial Taking - Continuation. In the event of such taking or transfer of only a part of the Premises and this Lease is not terminated pursuant to Section 8.3, this Lease shall terminate only as to the portion of the Premises so taken or transferred as of the date title to such portion vests in the condemning authority or the date possession of such portion is taken by the condemning authority, whichever occurs first, and shall continue in force and effect as to the portion of the Premises not so taken or transferred, and the rent and other obligations of Tenant hereunder shall be equitably abated.
Partial Taking - Continuation. In the event of such taking or transfer of only a part of the Ground Leased Premises leaving the remainder of the premises in such location and in such form, shape or size as to be used effectively and practicably in the good faith opinion of Lessee for the purpose of operation thereon of Lessee's business, this Lease shall terminate only as to the portion of the Ground Leased Premises so taken or transferred as of the date title to such portion vests in the condemning authority, and shall continue in full force and effect as to the portion of the Ground Leased Premises not so taken or transferred.
Partial Taking - Continuation. In the event of the taking or transfer of only a part of the Project Site leaving the remainder of the Project Site in such location and in such form, shape, or size as to be used effectively and practicably in the reasonable opinion of Ground Lessee for the purpose of operation of the Parking Improvements, as of the date title to such portion vests in the condemning authority, this Ground Lease shall continue. In the event of any such partial taking or transfer, the proceeds thereof shall first be made available to be used to restore the remaining portion of the Parking Improvements as an architectural unit adequate for its intended use as Parking Improvements as determined by Ground Lessee in its reasonable discretion. As long as no default of Ground Lessor shall have happened and be continuing after notice and an opportunity for Ground Lessor to cure the same as provided in Section 10 hereof, the balance of the proceeds of the partial taking or transfer, if any, after completion of such restoration, if any, shall be used in the following order of priority: first, amounts necessary to redeem all outstanding Series [ ] Bonds shall be deposited in the Debt Service Fund and used for such purpose, and second, any remaining amounts shall be transferred to Ground Lessor.
Partial Taking - Continuation. In the event of such taking of only a part of the Premises leaving the remainder of the Premises in such location and in such form, shape, or size as to be usable for the purpose of operation thereon of IPTLH’s business, in LCRDA’s reasonable discretion, this Ground Sublease shall terminate and end as to the portion of the Premises so taken as of the date title to such portion vests in the condemning authority, but shall continue in full force and effect as to the portion of the Premises not so taken. If the taking includes the buildings on the Property or a portion thereof, then from and after the date of taking, the rent paid by IPTLH shall be reduced in the proportion which the number of square feet in the affected building so taken bears to the title number of net rentable square feet in the buildings on the Property. In the event of taking which does not include any portion of the building(s) upon the Property, there shall be no abatement of rent hereunder.
