Common use of Partial Taking - Termination Clause in Contracts

Partial Taking - Termination. If a taking or transfer of only a part of the Premises or the appurtenant easement areas occurs and the remainder of the Premises may not be used practicably (in the good faith opinion of Tenant) for the operation thereon of Tenant's operations, either Landlord or Tenant may terminate this Lease within sixty (60) days after the occurrence of such taking or transfer by delivering written notice to the other party. The Lease shall terminate effective on the thirtieth (30th) day after the date of such notice in which case this Lease shall be null and void and of no force and effect.

Appears in 3 contracts

Samples: Sub Lease, Sub Lease, Sub Lease

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Partial Taking - Termination. If a taking or transfer of only a part of the Premises or the appurtenant easement areas occurs and the remainder of the Premises may not be used practicably (in the good faith opinion of Tenant) for the operation thereon of Tenant's operations, either Landlord or Tenant may terminate this Lease Secondary Sublease within sixty (60) days after the occurrence of such taking or transfer by delivering written notice to the other party. The Lease Prime Sublease shall terminate th effective on the thirtieth (30th30 ) day after the date of such notice in which case this Lease Secondary Sublease shall be null and void and of no force and effect.

Appears in 2 contracts

Samples: Secondary Sub Lease, Secondary Sub Lease

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