PARTIAL TAKING; NO TERMINATION; RECONSTRUCTION Clause Samples

PARTIAL TAKING; NO TERMINATION; RECONSTRUCTION. If a taking shall occur which does not result in termination of this Lease as provided in Paragraphs 31.1 and 31.2 above, but which requires the portion of the Premises not so taken to be reconstructed and restored so as to be constituted an architecturally complete unit suitable for use by Lessee, all compensation and damages payable for or on account of such taking shall be payable to Lessee and shall be used to reconstruct and restore the portion of the Premises not so taken to an architecturally complete unit suitable for use by Lessee; provided, however, that the Lessee's and/or Lender's obligation so to reconstruct and restore the Premises shall be limited solely to the amount of such compensation and damages made available to them pursuant to this Paragraph 31.3, and the Monthly Rent payable by Lessee hereunder shall be equitably reduced during the time Lessee does not have full use of the Premises as a result of such taking to account for the reduced economic value to Lessee, if any, occasioned by reason of such taking. The balance of any compensation and damages remaining after the reconstruction and restoration contemplated by this Paragraph 31.3 shall be distributed to the Port, except that Lessee shall be entitled to receive an amount therefrom equal to the fair market value of Lessee's leasehold interest in the portion of the Premises taken.