Partial Taking. If, after a Taking, so much of the Leased Property remains that the Leased Property can be used for substantially the same purposes for which it was used immediately before the Taking, then [i] this Lease will end as to the part taken on the earlier of the vesting of title to the Leased Property in the condemning authority or the taking of possession of the Leased Property by the condemning authority; [ii] at its cost, Tenant shall restore so much of the Leased Property as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Taking, using good workmanship and new, first-class materials; [iii] upon completion of the restoration, Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking (after deducting from the total award, attorneys', appraisers', and other fees and costs incurred in connection with the obtaining of the award and amounts paid to the holders of mortgages secured by the Leased Property), or Tenant's actual out-of-pocket costs of restoring the Leased Property; and [iv] Landlord shall be entitled to the balance of the net award. The restoration shall be completed in accordance with Sections 9.4, 9.5, 9.7, 9.8 and 9.9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 3 contracts
Samples: Lease Agreement (Just Like Home Inc), Lease Agreement (Balanced Care Corp), Lease Agreement (Just Like Home Inc)
Partial Taking. If, after a Taking, so much of the Leased Property Premises remains that the Leased Property Premises can be used for substantially the same purposes for which it was used immediately before the Taking, then [i] this Lease will end as to the part taken on the earlier of the vesting of title to the Leased Property Premises in the condemning authority or the taking of possession of the Leased Property Premises by the condemning authority; [ii] at its cost, Tenant shall restore so much of the Leased Property Premises as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Taking, using good workmanship and new, first-class new materials; [iii] upon completion of the restoration, Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking (after deducting from the total award, attorneys', appraisers', and other fees and costs incurred in connection with the obtaining of the award and amounts paid to the holders of mortgages secured by the Leased PropertyPremises), or Tenant's actual out-of-pocket costs of restoring the Leased PropertyPremises; and [iv] Landlord shall be entitled to the balance of the net award. The restoration shall be completed in accordance with Sections 9.4, 9.5, 9.7, 9.8 Section 11.4 and 9.9 with such other provisions deemed to apply to condemnation instead of casualty.
Appears in 2 contracts
Samples: Lease Agreement (American Retirement Corp), Lease Agreement (American Retirement Corp)
Partial Taking. If, after a Taking, so much of the Leased Facility Property remains that the Leased Facility Property can be used for substantially the same purposes for which it was used immediately before the Taking, then [i] this Lease will end as to the part taken on the earlier of the vesting of title to the such Leased Property in the condemning authority or the taking of possession of the Leased Property by the condemning authorityauthority and the Rent will be adjusted accordingly; [ii] at its cost, Tenant shall restore so much of the Leased Facility Property as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Taking, using good workmanship and new, first-class materials; [iii] upon completion of the restoration, Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking (after deducting from the total award, reasonable attorneys'’, appraisers'’, and other fees and costs incurred in connection with the obtaining of the award and amounts paid to the holders of mortgages secured by the Leased Facility Property), or Tenant's ’s actual out-of-pocket costs of restoring the Leased Facility Property; and [iv] Landlord shall be entitled to the balance of the net awardaward except to the extent specifically allocated to the value of Tenant’s Property or any relocation costs or expenses incurred by Tenant as a result of such partial Taking. The restoration shall be completed in accordance with Sections §§9.4, 9.5, 9.7, 9.8 and 9.9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 2 contracts
Samples: Lease Agreement (Emeritus Corp\wa\), Lease Agreement (Emeritus Corp\wa\)
Partial Taking. If, after a Taking, so much of the Leased Facility Property remains that the Leased Facility Property can be used for substantially the same purposes for which it was used immediately before the Taking, then [i] this Lease will end as to the part taken on the earlier of the vesting of title to the such Leased Property in the condemning authority or the taking of possession of the such Leased Property by the condemning authorityauthority and the Rent will be adjusted accordingly; [ii] at its cost, Tenant shall restore so much of the Leased Facility Property as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Taking, using good workmanship and new, first-class materials; [iii] upon completion of the restoration, Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking (after deducting from the total award, reasonable attorneys'’, appraisers'’, and other fees and costs incurred in connection with the obtaining of the award and amounts paid to the holders of mortgages secured by the Leased Facility Property), or Tenant's ’s actual out-of-pocket costs of restoring the Leased Facility Property; and [iv] Landlord shall be entitled to the balance of the net awardaward except to the extent specifically allocated to the value of Tenant’s Property or any relocation costs or expenses incurred by Tenant as a result of such Partial Taking. The restoration shall be completed in accordance with Sections §§9.4, 9.5, 9.7, 9.8 and 9.9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 1 contract
Partial Taking. If, after a Taking, so much of the Leased Property remains that the Leased Property can be used for substantially the same purposes for which it was used immediately before the Taking, then [i] this Lease will end as to the part taken on the earlier of the vesting of title to the Leased Property in the condemning authority or the taking of possession of the Leased Property by the condemning authority; [ii] at its cost, Tenant shall restore so much of the Leased Property as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Taking, using good workmanship and new, first-class materials; [iii] upon completion of the restoration, Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking (after deducting from the total award, attorneys', appraisers', and other reasonable fees and costs incurred in connection with the obtaining of the award and amounts paid to the holders of mortgages secured by the Leased Property), or Tenant's actual out-of-pocket costs of restoring the Leased Property; and [iv] Landlord shall be entitled to the balance of the net award. The restoration shall be completed in accordance with Sections 9.4, 9.5, 9.7, 9.8 and 9.9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 1 contract
Partial Taking. If, after a Taking, so much of the Leased Property remains that the Leased Property can be used for substantially the same purposes for which it was used immediately before the Taking, then [i] this Lease will end as to the part taken on the earlier of the vesting of title to the Leased Property in the condemning authority or the taking of possession of the Leased Property by the condemning authority; [ii] at its cost, Tenant shall restore so much of the Leased Property as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Taking, using good workmanship and new, first-class materials; [iii] upon completion of the restoration, Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking (after deducting from the total award, attorneys', appraisers', and other fees and costs incurred in connection with the obtaining of the award and amounts paid to the holders of mortgages secured by the Leased Property), or Tenant's actual out-of-pocket costs of restoring the Leased Property; and [iv] Landlord shall be entitled to the balance of the net award. The restoration shall be completed in accordance with Sections 9.4ss.ss.9.4, 9.5, 9.7, 9.8 and 9.9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 1 contract
Samples: Lease Agreement (Balanced Care Corp)
Partial Taking. If, after a Taking, so much of the Leased -------------- Property remains that the Leased Property can be used for substantially the same purposes for which it was used immediately before the Taking, then [i] this Lease will end as to the part taken on the earlier of the vesting of title to the Leased Property in the condemning authority or the taking of possession of the Leased Property by the condemning authority; [ii] at its cost, Tenant shall restore so much of the Leased Property as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Taking, using good workmanship and new, first-class materials; [iii] upon completion of the restoration, Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking (after deducting from the total award, attorneys', appraisers', and other fees and costs incurred in connection with the obtaining of the award and amounts paid to the holders of mortgages secured by the Leased Property), or Tenant's actual out-of-pocket costs of restoring the Leased Property; and [iv] Landlord shall be entitled to the balance of the net award. The restoration shall be completed in accordance with Sections 9.4(S)(S)9.4, 9.5, 9.7, 9.8 and 9.9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 1 contract
Samples: Lease Agreement (Just Like Home Inc)
Partial Taking. If, after a Taking, so much of the Leased Facility Property remains that the Leased Facility Property can be used for substantially the same purposes for which it was used immediately before the Taking, then [i] this Lease will end terminate as to the part taken on the earlier of the vesting of title to the such Leased Property in the condemning authority or the taking of possession of the such Leased Property by the condemning authorityauthority and the Rent will be adjusted accordingly; [ii] at its cost, Tenant shall restore so much of the Leased Facility Property as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Taking, using good workmanship and new, first-class materials; [iii] upon completion of the restoration, Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking (after deducting from the total award, attorneys', appraisers', and other reasonable fees and costs incurred in connection with the obtaining of the award and amounts paid to the holders of mortgages granted by Tenant, and consented to by Landlord, secured by the Leased Facility Property), or Tenant's actual out-of-pocket costs of restoring the Leased Facility Property; and [iv] Landlord shall be entitled to the balance of the net award. The restoration shall be completed in accordance with Sections 9.4ss.ss.9.4, 9.5, 9.7, 9.8 and 9.9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 1 contract
Samples: Master Lease Agreement (Brookdale Senior Living Inc.)
Partial Taking. If, after a Taking, so much of the Leased a Facility Property remains that the Leased Facility Property can be used for substantially the same purposes for which it was used immediately before the Taking, then [i] this Lease will end as to the part taken on the earlier of the vesting of title to the such Leased Property in the condemning authority or the taking of possession of the such Leased Property by the condemning authorityauthority and the Rent will be adjusted accordingly; [ii] at its cost, Tenant shall restore so much of the Leased Facility Property as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Taking, using good workmanship and new, first-class materials; [iii] upon completion of the restoration, Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking (after deducting from the total award, attorneys'’, appraisers'’, and other fees and costs incurred in connection with the obtaining of the award and amounts paid to the holders of mortgages secured by the Leased Facility Property), or Tenant's ’s actual out-of-pocket costs of restoring the Leased Facility Property; and [iv] Landlord shall be entitled to the balance of the net award. The restoration shall be completed in accordance with Sections 9.4, 9.5, 9.7, 9.8 and 9.9 Article 9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 1 contract
Partial Taking. If, after a Taking, so much of the Leased Facility Property remains that the Leased Facility Property can be used for substantially the same purposes for which it was used immediately before the Taking, then [i] this Lease will end as to the part taken on the earlier of the vesting of title to the such Leased Property in the condemning authority or the taking of possession of the such Leased Property by the condemning authorityauthority and the Rent will be adjusted accordingly; [ii] at its cost, Tenant shall restore so much of the Leased Facility Property as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Taking, using good workmanship and new, first-class materials; [iii] upon completion of the restoration, Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking (after deducting from the total award, attorneys'’, appraisers'’, and other fees and costs incurred in connection with the obtaining of the award and amounts paid to the holders of mortgages secured by the Leased Facility Property), or Tenant's ’s actual out-of-pocket costs of restoring the Leased Facility Property; and [iv] Landlord shall be entitled to the balance of the net award. The restoration shall be completed in accordance with Sections §§9.4, 9.5, 9.7, 9.8 and 9.9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 1 contract
Samples: Master Lease Agreement (Capital Senior Living Corp)
Partial Taking. If, after a Taking, so much of the Leased Facility Property remains that the Leased Facility Property can be used for substantially the same purposes for which it was used immediately before the Taking, then [i] this Lease will end as to the part taken on the earlier of the vesting of title to the such Leased Property in the condemning authority or the taking of possession of the such Leased Property by the condemning authorityauthority and the Rent will be adjusted accordingly; [ii] at its cost, Tenant shall restore so much of the Leased Facility Property as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Taking, using good workmanship and new, first-class materials; [iii] upon completion of the restoration, Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking (after deducting from the total award, attorneys'’, appraisers'’, and other fees and costs incurred in connection with the obtaining of the award and amounts paid to the holders of mortgages secured by the Leased Facility Property), or Tenant's ’s actual out-of-pocket costs of restoring the Leased Facility Property; and [iv] Landlord shall be entitled to the balance of the net award. The restoration shall be completed and the condemnation award/proceeds advanced to Tenant in accordance with Sections §§9.4, 9.5, 9.7, 9.8 and 9.9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 1 contract
Partial Taking. If, after a Taking, so much of the Leased Property remains that the Leased Property can be used for substantially the same purposes for which it was used immediately before the Taking, then [(i] ) this Lease will end as to the part taken on the earlier of the vesting of title to the Leased Property in the condemning authority or the taking of possession of the Leased Property by the condemning authority; [(ii] ) Base Rent for so much of the Leased Property as remains will be reduced in the proportion of the floor area of the building remaining after the Taking to the floor area of the building before the Taking; (iii) at its cost, Tenant shall restore so much of the Leased Property as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Taking, using good workmanship and new, first-class materials; [iii] (iv) upon completion of the restoration, Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking (after deducting from the total award, attorneys', appraisers', and 27 other fees and costs incurred in connection with the obtaining of the award and amounts paid to the holders of mortgages secured by the Leased Property), or Tenant's actual out-of-pocket costs of restoring the Leased Property; and [iv] (v) Landlord shall be entitled to the balance of the net award. The restoration shall be completed in accordance with Sections 9.4, 9.5, 9.7, 9.8 and 9.9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 1 contract
Partial Taking. If, after a Taking, so much of the Leased Facility Property remains that the Leased Facility Property can be used for substantially the same purposes for which it was used immediately before the Taking, then [i] this Lease will end as to the part taken on the earlier of the vesting of title to the such Leased Property in the condemning authority or the taking of possession of the such Leased Property by the condemning authority; [ii] at its cost, Tenant shall restore so much of the Leased Facility Property as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Taking, using good workmanship and new, first-class materials; [iii] upon completion of the restoration, Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking (after deducting from the total award, attorneys', appraisers', and other fees and costs incurred in connection with the obtaining of the award and amounts paid to the holders of mortgages secured by the Leased Facility Property), or Tenant's actual out-of-pocket costs of restoring the Leased Facility Property; and [iv] Landlord shall be entitled to the balance of the net award. The restoration shall be completed in accordance with Sections subsection 9.4, 9.5, 9.7, 9.8 and 9.9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 1 contract
Partial Taking. If, after a Taking, so much of the Leased Facility Property remains that the Leased Facility Property can be used for substantially the same purposes for which it was used immediately before the Taking, then [i] this Lease will end as to the part taken on the earlier of the vesting of title to the such Leased Property in the condemning authority or the taking of possession of the such Leased Property by the condemning authorityauthority and the Rent will be adjusted accordingly; [ii] at its cost, Tenant shall restore so much of the Leased Facility Property as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Taking, using good workmanship and new, first-class materials; [iii] upon completion of the restoration, Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking (after deducting from the total award, attorneys', appraisers', and other fees and costs incurred in connection with the obtaining of the award and amounts paid to the holders of mortgages secured by the Leased Facility Property), or Tenant's actual out-of-pocket costs of restoring the Leased Facility Property; and [iv] Landlord shall be entitled to the balance of the net award. The restoration shall be completed in accordance with Sections §§9.4, 9.5, 9.7, 9.8 and 9.9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 1 contract
Partial Taking. If, after a Taking, so much of the Leased Property remains that the Leased Property can be used for substantially the same purposes for which it was used immediately before the Taking, then [i] this Lease will end as to the part taken on the earlier of the vesting of title to the Leased Property in the condemning authority or the taking of possession of the Leased Property by the condemning authority; [ii] at its cost, Tenant shall restore so much of the Leased Property as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Taking, using good workmanship and new, first-class materials; [iii] upon completion of the restoration, Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking (after deducting from the total award, attorneys', appraisers', and other fees and costs incurred in connection with the obtaining of the award and amounts paid to the holders of mortgages secured by the Leased Property), or Tenant's actual out-of-pocket costs of restoring the Leased Property; and [iv] Landlord shall be entitled to the balance of the net award. The restoration shall be completed in accordance with Sections 9.4, 9.5, 9.7, 9.8 and 9.9 with such provisions deemed to apply to condemnation instead of casualty. casualty.
Appears in 1 contract
Partial Taking. If, after a Takingtaking, so much of the Leased Property Premises remains that the Leased Property Premises can be used for substantially the same purposes for which it was they were used immediately before the Taking, then [i] taking:
(a) this Lease will end on the ending date as to the part of the Premises which is taken;
(b) prepaid rent will be appropriately allocated to the part of the Premises which is taken and prorated to the ending date;
(c) beginning on the earlier day after the ending date, rent for so much of the vesting Premises as remains will be reduced in the proportion of title the floor area of the building remaining after the taking to the Leased Property in the condemning authority or the taking of possession floor area of the Leased Property by building before the condemning authoritytaking; [ii] Landlord Initials _____ Tenant Initials _____
(d) at its cost, Tenant shall will restore so much of the Leased Property Premises as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Takingtaking, using good workmanship and new, first-new first class materials; [iii] , all according to Section 13;
(e) upon the completion of the restorationrestoration according to Section 16.2(d), Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking taking (after deducting from the total award, award attorneys', appraisers', and other fees and costs incurred in connection with obtaining the obtaining of the award award, and amounts paid to the holders of mortgages secured by affecting the Leased PropertyPremises), or for Tenant's actual out-of-of- pocket costs cost of restoring the Leased PropertyPremises; and [iv] and
(f) Landlord shall be entitled to will keep the balance of the net award. The restoration shall be completed in accordance with Sections 9.4, 9.5, 9.7, 9.8 and 9.9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 1 contract
Samples: Single Tenant Building Lease (Sri Surgical Express Inc)
Partial Taking. If, after a Taking, so much of the Leased Property remains that the Leased Property can be used for substantially the same purposes for which it was used immediately before the Taking, then [i] this Lease will end as to the part taken on the earlier of the vesting of title to the Leased Property in the condemning authority or the taking of possession of the Leased Property by the condemning authority; [ii] at its cost, Tenant shall restore so much of the Leased Property as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Taking, using good workmanship and new, first-class materials; [iii] upon completion of the restoration, Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking (after deducting from the total award, attorneys', appraisers', and other reasonable fees and costs incurred in connection with the obtaining of the award and amounts paid to the holders of mortgages secured by the Leased Property), or Tenant's actual out-of-pocket costs of restoring the Leased Property; and [iv] Landlord shall be entitled to the balance of the net award. The restoration shall be completed in accordance with Sections Section 9.4, 9.5, 9.7, 9.8 and 9.9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 1 contract
Partial Taking. If, after a Taking, so much of the Leased a Facility Property remains that the Leased Facility Property can be used for substantially the same purposes for which it was used immediately before the Taking, then [i] this Lease will end as to the part taken on the earlier of the vesting of title to the such Leased Property in the condemning authority or the taking of possession of the such Leased Property by the condemning authorityauthority and the Rent will be adjusted accordingly; [ii] at its cost, Tenant shall restore so much of the Leased Facility Property as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Taking, using good workmanship and new, first-class materials; [iii] upon completion of the restoration, Landlord will pay Tenant [the lesser of the net award made to Landlord on the account of the Taking (after deducting from the total award, attorneys'’, appraisers'’, and other fees and costs incurred in connection with the obtaining of the award and amounts paid to the holders of mortgages secured by the Leased Facility Property), or Tenant's ’s actual out-of-pocket costs of restoring the Leased Facility Property]; and [iv] Landlord shall be entitled to the balance of the net award. The restoration shall be completed in accordance with Sections 9.4, 9.5, 9.7, 9.8 and 9.9 Article 9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 1 contract
Partial Taking. If, after a Takingtaking, so much of the Leased Property premises remains that the Leased Property premises can be used for substantially the same purposes for which it was they were used immediately before the Taking, then [i] taking:
(1) this Lease will end on the ending date as to the part of the premises which is taken;
(2) prepaid rent will be appropriately allocated to the part of the premises which is taken and prorated to the ending date;
(3) beginning on the earlier day after the ending date, rent for so much of the vesting premises as remains will be reduced in the proportion of title the floor area of the building remaining after the taking to the Leased Property in the condemning authority or the taking of possession floor area of the Leased Property by building before the condemning authority; [ii] taking;
(4) at its cost, Tenant shall will restore so much of the Leased Property premises as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Takingtaking, using good workmanship and new, first-new first class materials; [iii] , all according to paragraph 12;
(5) upon the completion of the restorationrestoration according to clause (6), Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking taking (after deducting from the total award, award attorneys', appraisers', and other fees and costs incurred in connection with obtaining the obtaining of the award award, and amounts paid to the holders of mortgages secured by affecting the Leased Propertypremises), or Tenant's actual out-of-pocket costs cost of restoring the Leased Propertypremises; and [iv] and
(6) Landlord shall be entitled to will keep the balance of the net award. The restoration shall be completed in accordance with Sections 9.4, 9.5, 9.7, 9.8 and 9.9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 1 contract
Samples: Building Lease (Partsbase Com Inc)
Partial Taking. If, after a Takingtaking, so much of the Leased Property premises remains that the Leased Property premises can be used for substantially the same purposes for which it was they were used immediately before the Taking, then [i] taking:
(1) this Lease lease will end on the ending date as to the part of the premises which is taken;
(2) prepaid rent will be appropriately allocated to the part of the premises which is taken and prorated to the ending date;
(3) beginning on the earlier day after the ending date, rent for so much of the vesting premises as remains will be reduced in the proportion of title the floor area of the building remaining after the taking to the Leased Property in the condemning authority or the taking of possession floor area of the Leased Property by building before the condemning authority; [ii] taking;
(4) at its cost, Tenant shall tenant will restore so much of the Leased Property premises as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Takingtaking, using good workmanship and new, first-new first class materials; [iii] , all according to paragraph 13;
(5) upon the completion of the restorationrestoration according to clause (6), Landlord landlord will pay Tenant tenant the lesser of the net award made to Landlord landlord on the account of the Taking taking (after deducting from the total award, award attorneys', appraisers', and other fees and costs incurred in connection with obtaining the obtaining of the award award, and amounts paid to the holders of mortgages secured by affecting the Leased Propertypremises), or Tenanttenant's actual out-of-pocket costs cost of restoring the Leased Propertypremises; and [iv] Landlord shall be entitled to and
(6) landlord will keep the balance of the net award. The restoration shall be completed in accordance with Sections 9.4, 9.5, 9.7, 9.8 and 9.9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 1 contract
Samples: Single Tenant Building Lease (Gulf State Credit LLP)
Partial Taking. If, after a Taking, so much of the Leased a Facility Property remains that the Leased Facility Property can be used for substantially the same purposes for which it was used immediately before the Taking, then [i] this Lease will end as to the part taken on the earlier of the vesting of title to the such Leased Property in the condemning authority or the taking of possession of the such Leased Property by the condemning authorityauthority and the Rent will be adjusted accordingly; [ii] at its cost, Tenant shall restore so much of the Leased Facility Property as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Taking, using good workmanship and new, first-class materials; [iii] upon completion of the restoration, Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking (after deducting from the total award, attorneys', appraisers', and other fees and costs incurred in connection with the obtaining of the award and amounts paid to the holders of mortgages secured by the Leased Facility Property), or Tenant's actual out-of-pocket costs of restoring the Leased Facility Property; and [iv] Landlord shall be entitled to the balance of the net awardaward and the Lease Amount shall be reduced by the amount retained by Landlord. The restoration shall be completed in accordance with Sections 9.4, 9.5, 9.7, 9.8 and 9.9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 1 contract
Partial Taking. If, after a Taking, so much of the Leased Facility Property remains that the Leased Facility Property can be used for substantially the same purposes for which it was used immediately before the Taking, then [i] this Lease will end terminate as to the part taken on the earlier of the vesting of title to the such Leased Property in the condemning authority or the taking of possession of the such Leased Property by the condemning authorityauthority and the Rent will be adjusted accordingly; [ii] at its cost, Tenant shall restore so much of the Leased Facility Property as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Taking, using good workmanship and new, first-class materials; [iii] upon completion of the restoration, Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking (after deducting from the total award, attorneys', appraisers', and other reasonable fees and costs incurred in connection with the obtaining of the award and amounts paid to the holders of mortgages granted by Tenant, and consented to by Landlord, secured by the Leased Facility Property), or Tenant's actual out-of-pocket costs of restoring the Leased Facility Property; and [iv] Landlord shall be entitled to the balance of the net award. The restoration shall be completed in accordance with Sections 9.4, 9.5, 9.7, 9.8 and 9.9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 1 contract
Samples: Master Lease Agreement (Brookdale Senior Living Inc.)
Partial Taking. If, after a Taking, so much of the Leased Facility Property remains that the Leased Facility Property can be used for substantially the same purposes for which it was used immediately before the Taking, then [i] this Lease will end terminate as to the part taken on the earlier of the vesting of title to the such Leased Property in the condemning authority or the taking of possession of the such Leased Property by the condemning authorityauthority and the Rent will be adjusted accordingly; [ii] at its cost, Tenant shall restore so much of the Leased Facility Property as remains to a sound architectural unit substantially suitable for the purposes for which it was used immediately before the Taking, using good workmanship and new, first-class materials; [iii] upon completion of the restoration, Landlord will pay Tenant the lesser of the net award made to Landlord on the account of the Taking (after deducting from the total award, attorneys', appraisers', and other reasonable fees and costs incurred in connection with the obtaining of the award and amounts paid to the holders of mortgages granted by Tenant, and consented to by Landlord, secured by the Leased Facility Property), or Tenant's actual out-of-pocket costs of restoring the Leased Facility Property; and [iv] Landlord shall be entitled to the balance of the net award. The restoration shall be completed in accordance with Sections §§9.4, 9.5, 9.7, 9.8 and 9.9 with such provisions deemed to apply to condemnation instead of casualty.
Appears in 1 contract