Common use of Partial Taking of Building Clause in Contracts

Partial Taking of Building. If during the Term only part of the Building is taken or purchased as set out in Article 15.01, then (a) if in the reasonable opinion of Landlord substantial alteration or reconstruction of the Building is necessary or desirable as a result thereof, whether or not the Premises are or may be affected, Landlord shall have the right to terminate this Lease by giving Tenant at least thirty (30) days' written notice of such termination, and (b) if more than one-third of the number of square feet in the Premises is included in such taking or purchase, Landlord and Tenant shall each have the right to terminate this Lease by giving the other at least thirty (30) days' written notice thereof. If either party exercises its right of termination hereunder, this Lease shall terminate on the date stated in the notice, provided, however, that no termination pursuant to notice hereunder may occur later than sixty (60) days after the date of such taking.

Appears in 2 contracts

Samples: Lease of Office Space (Eschelon Telecom Inc), Lease Agreement (Eschelon Telecom Inc)

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Partial Taking of Building. If during the Term only part of the Building is taken or purchased as set out in Article 15.01Section 16.1, then: (a) if in the reasonable opinion of the Landlord substantial alteration or reconstruction of the Building is necessary or desirable as a result thereof, whether or not the Premises are or may be affected, the Landlord shall have the right to terminate this Lease by giving the Tenant at least lease thirty (30) days' written notice of such termination, and (b) if more than one-third of the number of square feet in the Premises is included in such taking or purchase, the Landlord and the Tenant shall each have the right to terminate this Lease by giving the other at least thirty (30) days' written notice thereof. If either party exercises its right of termination hereunder, this Lease shall terminate on the date stated in the notice, provided, provided however, that no termination pursuant to notice hereunder may occur later than sixty (60) days after the date of such taking.

Appears in 2 contracts

Samples: Lease of Office Space (Zymeworks Inc.), Lease of Office Space (Zymeworks Inc.)

Partial Taking of Building. If during the Term only part of the Building is taken or purchased as set out in Article 15.01this Section 6.03, then; (ai) if in the reasonable opinion of Landlord substantial alteration or reconstruction of the Building is necessary or desirable as a result thereof, whether or not the Premises are or may be affected, Landlord shall have the right to terminate this Lease by giving the Tenant at least thirty (30) days' days written notice of such termination, ; and (bii) if more than one-one third (1/3) of the number of square feet in the Premises is included in such taking or purchase, Landlord and Tenant shall each have the right to terminate this Lease by giving the other Landlord at least thirty (30) days' written notice thereofthereof and this Lease shall terminate upon the Date of such Taking. If either party exercises its right of termination hereunder, this Lease shall terminate on the date stated in the notice, ; provided, however, that no termination pursuant to notice hereunder may occur later than sixty (60) days after the date Date of such takingTaking.

Appears in 1 contract

Samples: Office Building Lease (Oceanic Exploration Co)

Partial Taking of Building. If during the Term only part of the Building is taken or purchased as set out in Article 15.01Section 17.1, then: (a) if in the reasonable opinion of the Landlord substantial alteration or reconstruction of the Building is necessary or desirable as a result thereof, whether or not the Premises are or may be affected, the Landlord shall have the right to terminate this Lease by giving the Tenant at least lease thirty (30) days' written notice of such termination, and (b) if more than one-third of the number of square feet in the Premises is included in such taking or purchase, the Landlord and the Tenant shall each have the right to terminate this Lease by giving the other at least thirty (30) days' written notice thereof. If either party exercises its right of termination hereunder, this Lease shall terminate on the date stated in the notice, provided, provided however, that no termination pursuant to notice hereunder may occur later than sixty (60) days after the date of such taking.

Appears in 1 contract

Samples: Lease Agreement (Dirtt Environmental Solutions LTD)

Partial Taking of Building. If during the Term only part of the a Building is taken or purchased as set out in Article 15.01, then (a) if in the reasonable opinion of Landlord substantial alteration or reconstruction of the such Building is necessary or desirable as a result thereof, whether or not the Premises are or may be affected, Landlord shall have the right to terminate this Lease by giving Tenant at least thirty (30) days' written notice of such termination, and (b) if more than one-third of the number of square feet in the Premises is included in such taking or purchase, Landlord and Tenant shall each have the right to terminate this Lease by giving the other at least thirty (30) days' written notice thereof. If either party exercises its right of termination hereunder, this Lease shall terminate on the date stated in the notice, provided, however, that no termination pursuant to notice hereunder may occur later than sixty (60) days after the date of such taking.

Appears in 1 contract

Samples: Lease Agreement (Eschelon Telecom Inc)

Partial Taking of Building. If during the Term only part of the Building is taken or purchased as set out in Article 15.01, then (a) if in the reasonable opinion of Landlord substantial alteration or reconstruction of the Building is necessary or desirable as a result thereof, whether or not the Premises are or may be affected, Landlord shall have the right to terminate this Lease by giving the Tenant at least thirty (30) 30 days' written notice of such termination, and (b) if more than one-third of the number of square feet in the Premises is included in such taking or purchase, Landlord and Tenant shall each have the right to terminate this Lease by giving the other at least thirty (30) 30 days' written notice thereof. If either party exercises its right of termination hereunder, this Lease shall terminate on the date stated in the notice, provided, however, that no termination pursuant to notice hereunder may occur later than sixty (60) 60 days after the date of such taking.

Appears in 1 contract

Samples: Lease of Office Space (Clark/Bardes Holdings Inc)

Partial Taking of Building. If during the Term only part of the Building is taken or purchased as set out in Article 15.01Section 17.1, then: (a) if in the reasonable opinion of the Landlord substantial alteration or reconstruction of the Building is necessary or desirable as a result thereof, whether or not the Premises are or may be affected, the Landlord shall have the right to terminate this Lease by giving the Tenant at least lease thirty (30) days' written notice of such termination, and (b) if more than one-third of the number of square feet in the Premises is included in such taking or purchase, Landlord and the Tenant shall each have the right to terminate this Lease by giving the other at least thirty (30) days' written notice thereof. If either party exercises its right of termination hereunder, this Lease shall terminate on the date stated in the notice, provided, provided however, that no termination pursuant to notice hereunder may occur later than sixty ninety (6090) days after the date of such taking.

Appears in 1 contract

Samples: Lease of Industrial Space (Lululemon Corp.)

Partial Taking of Building. If during the Term only part of the Building is taken or purchased as set out in Article 15.01Section 17.1, then: (a) if in the reasonable opinion of the Landlord substantial alteration or reconstruction of the Building is necessary or desirable as a result thereof, whether or not the Premises are or may be affected, the Landlord shall have the right to terminate this Lease by giving the Tenant at least thirty (30) days' written notice of such termination, and (b) if more than one-third of the number of square feet in the Premises is included in such taking or purchase, the Landlord and the Tenant shall each have the right to terminate this Lease by giving the other at least thirty (30) days' written notice thereof. If either party exercises its right of termination hereunder, this Lease shall terminate on the date stated in the notice, provided, provided however, that no termination pursuant to notice hereunder may occur later than sixty (60) days after the date of such taking.

Appears in 1 contract

Samples: Lease of Industrial Space (Above Food Ingredients Inc.)

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Partial Taking of Building. If during the Term only part of the Building is taken or purchased as set out in Article 15.01, then: (a) if in the reasonable opinion of Landlord substantial alteration or reconstruction of the Building is necessary or desirable as a result thereof, whether or not the Premises are or may be affected, the Landlord shall have the right to terminate this Lease by giving the Tenant at least thirty (30) days' days written notice of such termination, and, (b) if more than one-third (1/3) of the number of square feet in the Premises is included in such taking or purchase, Landlord and Tenant shall each have the right to terminate this Lease by giving the other at least thirty (30) days' days written notice thereof. If either party exercises its right of termination hereunder, this Lease shall terminate on the date stated in the notice, provided, however, that no termination pursuant to notice hereunder may occur later than sixty (60) days after the date of such taking.

Appears in 1 contract

Samples: Lease Agreement (Imi International Medical Innovations Inc)

Partial Taking of Building. If If, during the Term Term, only part of the Building is taken or purchased as set out in Article 15.01, then: (a) if if, in the reasonable opinion of Landlord Landlord, substantial alteration or reconstruction of the Building is necessary or desirable as a result thereof, whether or not the Premises are or may be affected, Landlord shall have the right to terminate this Lease by giving the Tenant at least thirty (30) 30 days' written notice of such termination, ; and (b) if more than one-third of the number of square feet Square Feet in the Premises is included in such taking or purchasepurchase or if the Premises shall be deprived of suitable means of access on a permanent basis, Landlord and Tenant shall each have the right to terminate this Lease by giving the other at least thirty (30) 30 days' written notice thereof. If either party exercises its right of termination hereunder, this Lease shall terminate on the date stated in the notice, provided, however, however that no termination pursuant to notice hereunder may occur later than sixty (60) 60 days after the date of such taking.

Appears in 1 contract

Samples: Lease Agreement (Safety Insurance Group Inc)

Partial Taking of Building. If during the Term only part of the Building is taken or purchased as set out in Article 15.0115.1, then: (a) if in the reasonable opinion of Landlord substantial alteration or reconstruction of the Building is necessary or desirable as a result thereof, whether or not the Premises are or may be affected, Landlord shall have the right to terminate this Lease by giving Tenant at least thirty (30) days' 30 days written notice of such termination, and (b) if more than one-third of the number of square feet in the Premises is included in such taking or purchase, Landlord and Tenant shall each have the right to terminate this Lease by giving the other at least thirty (30) days' 30 days written notice thereof. If either party exercises its right of termination hereunder, this Lease shall terminate on the date stated in the notice, provided, provided however, that no termination pursuant to notice hereunder may occur later than sixty (60) 60 days after the date of such taking.

Appears in 1 contract

Samples: Lease of Office Space (Securac Corp)

Partial Taking of Building. If If, during the Term Term, only part of the Building is taken or purchased as set out in Article 15.01, then: (a) if in the reasonable opinion of Landlord Landlord, substantial alteration or reconstruction of the Building is necessary or desirable as a result thereof, whether or not the Premises are or may be affected, Landlord shall have the right to terminate this Lease by giving the Tenant at least thirty (30) days' written notice of such termination, ; and (b) if more than one-third (1/3) of the number of square feet in the Premises is included in such taking or purchase, Landlord and Tenant shall each have the right to terminate this Lease by giving the other at least thirty (30) days' written notice thereof. If either party exercises its right of termination hereunder, this Lease shall terminate on the date stated in the notice, ; provided, however, that no termination pursuant to notice hereunder may occur later than sixty (60) days after the date of such taking.

Appears in 1 contract

Samples: Lease Agreement (Amr Research Inc)

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