Common use of PARTIAL Clause in Contracts

PARTIAL. If any part of the Premises shall be taken by eminent domain and such partial taking shall render that portion not so taken unsuitable for the purposes for which the Premises were leased, then Landlord and Tenant shall each have the right to terminate this Lease by written notice given to the other within thirty (30) days after notice of such taking. If any part of the Premises shall be so taken and this Lease shall not be terminated as aforesaid, then this Lease and all of the terms and provisions hereof shall continue in full force and effect, except that the Fixed Minimum Rent and Tenant’s Proportionate Share of Common Area Costs and Tenant’s Proportionate Share of real estate taxes shall be reduced in the same proportion that the floor area of the Premises taken (including basement and mezzanine space, if any) bears to the original floor area demised, and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs or alterations (exclusive of Tenant’s trade fixtures, decorations, signs and contents) to restore the portion of the Premises remaining to as near its former condition as the circumstances will permit, and to the Shopping Center to the extent necessary to constitute the portion of the Shopping Center not so taken a complete architectural unit; provided, however, that Landlord, in any event, shall not be required to spend for such repair and alteration work an amount in excess of the respective amounts received by Landlord as damages for the taking of such part of the Premises and of the Shopping Center, and Tenant, at Tenant’s expense, shall make all necessary repairs and alterations to Tenant’s trade fixtures, decorations, signs and contents.

Appears in 1 contract

Samples: Shopping Center Lease (Carroll Bancorp, Inc.)

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PARTIAL. If any part of the Demised Premises shall be taken by eminent domain as aforesaid, and such partial taking shall render that portion not so taken unsuitable for the purposes for which the Premises were leased, then Landlord and Tenant shall each have the right to terminate this Lease by written notice given to the other within thirty (30) days after notice business of such taking. If any part of the Premises shall be so taken and this Lease shall not be terminated as aforesaidTenant, then this Lease and all 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 the terms and provisions hereof Tenant, then this Lease shall continue in full force and effect, effect except that the Fixed Minimum Rent and Tenant’s Proportionate Share of Common Area Costs and Tenant’s Proportionate Share of real estate taxes rent shall be reduced in the same proportion that the floor area of the Demised Premises taken (including basement and mezzanine space, if any) bears to the original floor area demised, demised and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs repair or alterations (exclusive of Tenant’s trade fixtures, decorations, signs and contents) to restore the portion of the Premises remaining to as near its former condition as the circumstances will permit, and to the Shopping Center to building in which the extent necessary Demised Premises are located so as to constitute the portion of the Shopping Center building not so taken a complete architectural unit; provided, however, that Landlord, 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, shall not event be required to spend for such repair and alteration work an amount in excess of the respective amounts amount received by Landlord as damages for the taking of such part of the Demised Premises and so taken. "Amount received by Landlord" shall mean that part of the Shopping Centeraward in condemnation which is free and clear to Landlord of any collection by mortgages for the value of the diminished fee; (c) if more than twenty (20%) percent of the floor area of the building in which the Demised Premises are located shall be taken as aforesaid, and Landlord may. by written notice to Tenant, at Tenant’s expenseterminate this Lease, such termination to be effective as aforesaid; (d) if this Lease Is terminated as provided In this paragraph, the rent shall be paid up to the day that possession is taken by public authority and Landlord shall make an equitable refund of any rent paid by Tenant in advance; (e) Award: Tenant shall not be entitled to and expressly waives all necessary repairs and alterations claim to Tenant’s trade fixtures, decorations, signs and contents.any

Appears in 1 contract

Samples: Lease Agreement (Rose Group of Nevada)

PARTIAL. If any part twenty-five (25%) percent or more of the gross leasable area of the Premises shall be taken by eminent domain and such partial taking shall render that portion not so taken unsuitable for the purposes for which the Premises were leasedtaken, then Landlord and or Tenant shall each have the right to terminate this Lease by written notice given to the other within thirty sixty (3060) days after notice the date of title vesting in such takingproceeding. If any part of the Premises shall be so taken and this Lease shall not be terminated terminated, as aforesaid, then this Lease and all of the terms and provisions hereof shall continue in full force and effect, except that the Fixed Minimum Rent and Tenant’s Proportionate Share of Common Area Costs and Tenant’s Proportionate Share of real estate taxes shall be reduced in the same proportion that the floor rentable area of the Premises taken (including basement and mezzanine space, if any) bears to the original floor rentable area demisedof the Premises, and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs or and alterations (exclusive of Tenant’s 's property, including trade and lighting fixtures, furniture, furnishings, personal property, decorations, signs and contents) to restore the portion of the Premises remaining to as near to its former condition conditions as the circumstances will permit, and to the Shopping Center Building to the extent necessary to constitute the portion of the Shopping Center Building not so taken a complete architectural unit; provided, however, that Landlord, in any event, shall not be required to spend for such repair repairs and alteration work alterations an amount in excess of the respective amounts amount received by Landlord as damages for the taking of such part of the Premises and of the Shopping CenterPremises, and Tenant, at Tenant’s 's expense, shall make all necessary repairs and alterations to Tenant’s 's property, including trade and lighting fixtures, decorationsfurniture, furnishings, personal property, signs and contents. As used herein, the amount received by Landlord shall mean that portion of the award in condemnation received by Landlord as damages from the condemning authority which is free and clear of all ground or underlying lessors, and less reasonable attorneys' and appraisers' fees and expenses. If more than fifty (50%) percent of the rentable area of either the Building or the Commercial Center shall be taken as aforesaid, Landlord shall have the right, by notice given to Tenant, to terminate this Lease, such termination to be effective as of the date of title vesting in such proceedings. If, as a result of any taking, the remaining parking areas equal or exceed seventy-five (75%) percent of the parking areas as the same existed prior to such taking, Tenant shall not be entitled to compensation, diminution or abatement of any rents or other charges or sums reserved hereunder, nor shall the same be deemed an actual or construction evidence. If as a result of such taking the remaining parking areas are reduced below seventy-five (75%) percent of the parking areas as the same existed prior to such taking, Landlord shall have the right, to supply substitute parking facilities on the property of Landlord or within reasonable proximity to the Commercial Center. If Landlord shall be unable to replace or substitute any such parking facilities so taken to comply with the provisions of the preceding sentence, then Landlord or Tenant shall have the right and option to cancel and terminate this Lease within ninety (90) days after the taking by giving the other party thirty (30) days' written notice; and in such event, this Lease shall cease and terminate upon the expiration of said thirty (30) days and neither party thereafter shall have any further rights and obligations as against the other. If, pursuant to the preceding sentence, neither party shall have so cancelled and terminated this Lease, then Tenant shall not be entitled to compensation, diminution or abatement of any rents, charges or other sums reserved hereunder, nor shall the failure to replace or substitute any such parking facilities so taken be deemed an actual or constructive eviction.

Appears in 1 contract

Samples: Lease Agreement (Village Bancorp Inc)

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PARTIAL. (a) If any part the Leased Premises should be damaged by fire, tornado or other casualty but not to such an extent that rebuilding or repairs cannot reasonably be completed within 180 working days from the date of the Premises shall be taken by eminent domain and such partial taking shall render that portion not so taken unsuitable for the purposes for which the Premises were leased, then Landlord and Tenant shall each have the right to terminate this Lease by written notice given to the other within thirty (30) days after notice of such taking. If any part occurrence of the Premises shall be so taken and damage, this Lease shall not terminate, but Landlord shall, if the casualty has occurred prior to the final 180 days of the lease term, at its sole cost and risk, proceed forthwith to rebuild or repair the Leased Premises to substantially the condition existing prior to such damage. If the casualty occurs during the final 180 days of the Lease term, Landlord shall not be terminated required to rebuild or repair such damage unless Tenant notifies Landlord in writing within 60 days following the date of such damage that Tenant is exercising its right to renew this lease or its option to purchase the Leased Premises, as aforesaidthe case may be. If Tenant does not exercise its right to renew this Lease or its option to purchase the Leased Premises and if Landlord does not elect to rebuild or repair such damage, then this Lease and all lease shall terminate, effective as of the terms date of said damage. If the Leased Premises are to be rebuilt or repaired and provisions hereof are untenantable in whole or in part following such damage, the rents payable hereunder during the period in which it is untenantable shall continue be adjusted equitably. (b) Notwithstanding anything in full force and effectthis Section which might be deemed to be the contrary, except that the Fixed Minimum Rent and Tenant’s Proportionate Share of Common Area Costs and Tenant’s Proportionate Share of real estate taxes shall be reduced in the same proportion that the floor area of the Premises taken (including basement and mezzanine space, if any) bears to the original floor area demised, and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs or alterations (exclusive of Tenant’s trade fixtures, decorations, signs and contents) to restore the portion of the Premises remaining to as near its former condition as the circumstances will permit, and to the Shopping Center to the extent necessary to constitute the portion of the Shopping Center not so taken a complete architectural unit; hereinafter provided, however, that Landlord, in any event, Landlord shall not be required to spend for such repair and alteration work an any amount in excess of the respective amounts received by insurance proceeds made available to Landlord in connection with the rebuilding or repair of the Leased Premises. In the event the insurance proceeds available to Landlord are insufficient for such purpose, Landlord shall so notify Tenant in writing. In such event Landlord may elect not to rebuild or repair the Leased Premises and to terminate the lease effective as of the date of such damage unless, Tenant notifies Landlord in writing, within 30 days after Tenant's receipt of the notice from Landlord as damages for to the taking insufficient insurance proceeds, that Tenant will pay all of the repair costs in excess of such part of insurance proceeds. If Tenant so notifies Landlord, Landlord shall proceed with due diligence to rebuild and/or repair the Leased Premises and of to substantially the Shopping Center, and Tenant, at Tenant’s expense, shall make all necessary repairs and alterations condition existing prior to Tenant’s trade fixtures, decorations, signs and contentssuch damage.

Appears in 1 contract

Samples: Lease Agreement (Cavalier Homes Inc)

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