Common use of PARTIAL Clause in Contracts

PARTIAL. If any part of the Premises shall be taken as aforesaid, and such partial taking shall render that portion not so taken unsuitable for the business of Tenant, as determined by Landlord, then this Lease and the term herein shall cease and terminate as aforesaid. If such partial taking is not extensive enough to render the Premises unsuitable for the business of Tenant, then this Lease shall continue in effect, except that the Fixed Minimum Rent shall be reduced in the same proportion that the floor area of the Premises taken bears to the original floor area leased and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs or alterations to the building in which the Premises are located so as to constitute the portion of the building not taken a complete architectural unit, but such work shall not exceed the scope of the work to be done by Landlord in originally constructing said building, nor shall Landlord, in any event, be required to spend for such work an amount in excess of the amount received by Landlord as damages for the part of the Premises so taken. "Amount received by Landlord" shall mean that part of the award in condemnation which is free and clear to Landlord of any collection by mortgagee for the value of the diminished fee.

Appears in 2 contracts

Samples: Maxxis Group Inc, Maxxis Group Inc

AutoNDA by SimpleDocs

PARTIAL. If any part of the Premises shall be taken as aforesaid, and such partial taking shall render that portion Portion not so taken unsuitable for the business of Tenant, as reasonably determined by Landlord, then this Lease and the term herein shall cease and terminate as aforesaid. If such partial taking is not extensive enough to render the Premises unsuitable for the business of Tenant, then this Lease shall continue in effect, except that the Fixed Minimum Rent shall be reduced in the same proportion that the floor area of the Premises taken bears to the original floor area leased and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs or alterations to the building in which the Premises are located so as to constitute the portion of the building not taken take a complete architectural unit, but such work shall not exceed the scope of the work to be done by Landlord in originally constructing said building, nor shall Landlord, in any event, be required to spend for such work an amount in excess of the amount received by Landlord as damages for the part of the Premises so taken. "Amount received by Landlord" shall mean that part of the award in condemnation which that is free and clear to Landlord of any collection by mortgagee for the value of the diminished fee.

Appears in 1 contract

Samples: Biocryst Pharmaceuticals Inc

PARTIAL. If any part of the Premises shall be taken as aforesaid, aforesaid and such partial taking shall render that portion not so taken unsuitable for the business of Tenant, as reasonably determined by LandlordLandlord and Tenant, then this Lease and the term Term herein shall cease and terminate as aforesaid. If such partial taking is not extensive enough to render the Premises unsuitable for the business of Tenant, then this Lease shall continue in effect, except that the Fixed Minimum Rent shall be reduced in the same proportion that the floor area of the Premises taken bears to the original floor area leased and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs or alterations to the building in which the Premises are located so as to constitute the portion of the building not taken a complete architectural unit, but such work shall not exceed the scope of the work to be done by Landlord in originally constructing said building, nor shall Landlord, in any event, be required to spend for such work an amount in excess of the amount received by Landlord as damages for the part of the Premises so taken. "Amount received by Landlord" shall mean that part of the award in condemnation which is free and clear to Landlord of any collection by mortgagee for the value of the diminished fee.

Appears in 1 contract

Samples: Lease (Adma Biologics, Inc.)

PARTIAL. If any part of the Premises shall be taken as aforesaid, and such partial taking shall render that portion not so taken unsuitable for the business of Tenant, as determined by Landlord, then this Lease and the term herein shall cease and terminate as aforesaid. If such partial taking is not extensive enough to render the Premises unsuitable for the business of Tenant, then this Lease shall continue in effect, except that the Fixed Minimum Rent shall be reduced in the same proportion that the floor area of the Premises taken bears to the original floor area leased and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs or alterations to the building Building in which the Premises are located so as to constitute the portion of the building Building not taken a complete architectural unit, but such work shall not exceed the scope of the work to be done by Landlord in originally constructing said buildingBuilding, nor shall Landlord, in any event, be required to spend for such work an amount in excess of the amount received by Landlord as damages for the part of the Premises so taken. "Amount received by Landlord" shall mean that part of the award in condemnation which is free and clear to Landlord of any collection by mortgagee for the value of the diminished fee.. (c)

Appears in 1 contract

Samples: Office Lease (Coastal BHC Inc)

PARTIAL. If any part of the Demised Premises shall be taken as aforesaid, and such partial taking shall render that portion not so taken unsuitable for the business of Tenant, as determined by LandlordTenant (except for the amount of floor space), then this Lease and the term herein hereof shall cease and terminate as aforesaid. If such partial taking is not extensive enough to render the Demised Premises unsuitable for the business of Tenant, then this Lease shall continue in effect, effect except that the Fixed Minimum Rent minimum rent and additional rentals shall be reduced in the same proportion that the floor area of the Demised Premises taken bears to the original floor area leased demised and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs or alterations to the building in which the Entire Premises are located so as to constitute the portion of the building Entire Premises not taken a complete architectural unit, but such work shall not exceed the scope of the work to be done by Landlord in originally constructing said buildingEntire Premises, nor shall Landlord, Landlord in any event, event be required to spend for such work an amount in excess of the net amount received by Landlord as damages for the part of the Demised Premises so taken. "Net Amount received by Landlord" shall mean that part of the award in condemnation after deducting all expenses in connection with the condemnation proceedings, together with reasonable attorney's fees, which is free and clear to Landlord of any collection by mortgagee mortgagees for the value of the diminished fee.

Appears in 1 contract

Samples: Lease Modification Agreement (Mdi Entertainment Inc)

AutoNDA by SimpleDocs

PARTIAL. If any part of the Premises shall be taken as aforesaid, and such partial taking shall render that portion not so taken unsuitable for the business of Tenantthe Lessee, as reasonably determined by LandlordLessor, then this Lease and the term herein shall cease and terminate as aforesaid. If such partial taking is not extensive enough to render the Premises unsuitable for the business of TenantLessee, then this Lease shall continue in effect, except that the Fixed Minimum Rent Base rent payable pursuant to paragraph 1 shall be reduced in the same proportion that the floor area of the Premises taken bears to the original floor area leased and Landlord Lessor shall, upon and subject to receipt of the award in condemnation, make all necessary repairs or alterations to the building in which the Premises are located so as to constitute the portion of the building not taken a complete architectural unit, but such work shall not exceed the scope of the work to be done by Landlord Lessor in originally constructing said building, nor shall LandlordLessor, in any event, be required to spend for such work an amount in excess of the amount received by Landlord Lessor as damages for the part of the Premises so taken. "Amount received by Landlord" Lessor” shall mean that part of the award in condemnation which is free and clear to Landlord Lessor of any collection by mortgagee for the value of Lessor’s diminished fee interest in the diminished feeproperty upon which the Premises are situated.

Appears in 1 contract

Samples: Rubicon Technology, Inc.

PARTIAL. If any part less than all or substantially all of the Demised Premises shall be taken subject to a Taking as aforesaid, and such partial taking Taking shall render that portion not so taken unsuitable for the business of Tenant, as determined by Landlord, then this Lease and the term herein hereof shall cease and terminate as aforesaid. If such partial taking Taking is not extensive enough to render the Demised Premises unsuitable for the business of Tenant, then in the reasonable opinion of Landlord, this Lease shall continue in effect, effect except that the Fixed Minimum Annual Base Rent shall be reduced in the same proportion that the floor area of the Demised Premises taken bears to the original floor gross leasable area leased leased, and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs or alterations to the building in which the Shopping Center and Demised Premises are located so as to constitute the portion of the building Demised Premises and Shopping Center not taken a complete architectural unit, but such work ; provided that in no event shall not exceed the scope of the work to be done by Landlord in originally constructing said building, nor shall Landlord, in any event, be required to spend for such work an amount in excess of the net amount received by Landlord as damages for the part of the Demised Premises so taken. "Amount received by Landlord" shall mean that part of the award in condemnation which is free and clear to Landlord of any collection by mortgagee for the value of the diminished fee.

Appears in 1 contract

Samples: Retail Lease

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!