Permanent Taking. If the whole or any part of the Premises, Building or Project shall be taken by power of eminent domain or condemned by any competent authority for any public or quasi-public use or purpose, or if any adjacent property or street shall be so taken or condemned, or reconfigured or vacated by such authority in such manner as to require the use, reconstruction or remodeling of any part of the Premises, Building or Project, or if Landlord shall grant a deed or other instrument in lieu of such taking by eminent domain or condemnation, Landlord shall have the option to terminate this Lease upon ninety (90) days’ notice, provided such notice is given no later than one hundred eighty (180) days after the date of such taking, condemnation, deed or other instrument. If more than twenty-five percent (25%) of the rentable square feet of the Premises is taken, or if access to the Premises is substantially impaired, Tenant shall have the option to terminate this Lease upon ninety (90) days’ notice, provided such notice is given no later than one hundred eighty (180) days after the date of such taking. Landlord shall be entitled to receive the entire award or payment in connection therewith, except that Tenant shall have the right to file any separate claim available to Tenant for any taking of Tenant’s personal property and fixtures belonging to Tenant and removable by Tenant upon expiration of the Lease Term pursuant to the terms of this Lease, and for moving expenses, so long as such claim does not diminish the award available to Landlord, or its ground lessor or mortgagee with respect to the Project, and such claim is payable separately to Tenant. All Rent shall be apportioned as of the date of such termination, or the date of such taking, whichever shall first occur. If any part of the Premises shall be taken, and this Lease shall not be so terminated, the Base Rent and Tenant’s Share of Operating Expenses, Tax Expenses and Utilities Costs shall be proportionately abated. Tenant hereby waives any and all rights it might otherwise have pursuant to Section 1265.130 of The California Code of Civil Procedure.
Permanent Taking. If all of the Premises, or such part thereof as shall substantially interfere with Tenant’s Permitted Use and occupancy thereof, shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or sold to prevent such taking (a “Taking”), either party shall have the right to terminate this Lease by Notice to the other effective as of the date possession is required to be surrendered to said authority. Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such Taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. If the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall restore the Premises to substantially their same condition prior to such partial Taking, and Basic Rent shall be reduced, effective as of the date the condemning authority takes possession, in the same proportion which the Rentable Square Feet of the portion of the Premises so taken bears to the Rentable Square Feet of the entire Premises before the Taking. Nothing contained in this Section 24.1 shall be deemed to give Landlord any interest in any award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for relocation costs and expenses.
Permanent Taking. If all or any part of the Premises, Complex or the Building is permanently taken or condemned by any competent authority for any public use or purpose (including a deed given in lieu of condemnation) which renders the Premises substantially untenantable, this Lease shall terminate as of the date title vests in such authority, and Monthly Base Rental shall be apportioned as of such date.
Permanent Taking. (a) In the event of a Taking of an entire Facility, this Lease shall terminate as of the date of such Taking with respect to such Facility.
(b) In the event of a Taking of less than the entire portion of a Facility, if Lessee or Lessor reasonably determines that the remaining land and building or buildings, after necessary repairs, cannot economically and feasibly be operated as a hotel as contemplated in this Lease, then either Lessor or Lessee may terminate this Lease with respect to such Facility.
(c) Upon any Taking of a Facility, whether or not this Lease is terminated with respect to such Facility, Lessee shall, if applicable law permits, undertake separate proceedings with respect to the determination of its loss resulting from the Taking. If such separate proceedings cannot be undertaken, Lessee shall nonetheless be entitled to a fair and equitable share of the award or other proceeds of the Taking paid to Lessor to the extent of Lessee's loss; provided, however, that Lessor shall receive the entire proceeds attributable to the Taking of all land, the Facility, the Furniture, Fixtures and Equipment, and Capital Improvements.
(d) If this Lease is not terminated with respect to a Facility following a partial Taking under this Section 15.2, then this Lease shall remain in full force and effect with respect to the remainder of the Facility so taken, and Lessor shall repair, restore, replace or rebuild the remainder of such Facility to the extent condemnation proceeds are made available to Lessor for such repair, restoration, replacement or rebuilding as nearly as possible to its value, condition and character immediately prior to the Taking. Lessor shall commence the work promptly after the date of the Taking and shall complete the same with diligence.
Permanent Taking. 38 8.2 Taking for Temporary Use................................................. 38 ARTICLE IX
Permanent Taking. 7.5.1 Upon a Taking of either the fee interest in, or a perpetual easement on, all or a part of the Resort, if Owner’s architect reasonably determines that the part not so taken may not be repaired, restored, replaced or rebuilt so as to constitute a first-class golf resort facility as contemplated by this Agreement, then this Agreement shall terminate as of the Date of Taking.
7.5.2 Upon a Taking of either the fee interest in, or a perpetual easement on, less than all of the Resort, and if this Agreement has not been terminated in accordance with Section 7.5.1, this Agreement shall remain in full force and effect with respect to the remainder of the Resort, and the awards or other proceeds on account of the Taking (including any interest included or paid with respect to such awards or proceeds) shall be retained by Owner and applied as necessary to the restoration of the Resort or to the payment of any amounts required to be paid to any Mortgagee in connection with such Taking; provided that any portion of such awards or proceeds in excess of the amount (if any) necessary to restore the Resort or required to be paid to a Mortgagee in connection with such Taking shall not be included in Gross Operating Revenue or Incentive Income and shall be paid directly to Owner. Owner shall repair, restore, replace, or rebuild the remainder of the Resort as nearly as possible to its value, condition, and character immediately prior to the Taking. Owner shall commence the work as promptly as reasonably practicable after the Date of Taking and shall complete the same with reasonable diligence. The costs of any such work in excess of the award or proceeds retained by Owner in connection with such Taking, if any, shall constitute Capital Expenditures.
Permanent Taking. If ten percent (10%) or more of the Premises or Building Complex shall be taken by power of eminent domain or condemned by any competent authority for any public or quasi-public use or purpose, or if Landlord shall grant a deed or other instrument in lieu of such taking by eminent domain or condemnation, Landlord and Tenant shall each have the option to terminate this Lease upon ninety (90) days’ notice to Tenant, provided such notice is given no later than one hundred eighty (180) days after the date of such taking, condemnation, reconfiguration, vacation, deed or other instrument. Landlord shall be entitled to receive the entire award or payment in connection therewith, except that Tenant shall have the right to file any separate claim available to Tenant for any taking of Tenant’s personal property and fixtures belonging to Tenant and removable by Tenant upon expiration of the Lease Term pursuant to the terms of this Lease, and for moving expenses and any other awards and expenses to which Tenant may be entitled under law. All Rent shall be apportioned as of the date of such termination, or the date of such taking, whichever shall first occur. If any part of the Premises shall be taken, and this Lease shall not be so terminated, the Base Rent shall be proportionately abated.
Permanent Taking. In the event of a taking by an entity of competent jurisdiction of all or materially all of the Leased Premises, or the determination of the Landlord that all or materially all of the Leased Premises is necessary for a public purpose, this Lease shall terminate on the earlier of vesting of title in, or the taking of possession by the condemner, or the written determination of the Landlord. If less than materially all of the Leased Premises are taken or if the Landlord determines that it needs less than materially all of the Leased Premises for a public purpose (herein called a "partial taking"), this Lease shall continue in effect except as to the portion so taken or condemned, but the rent to be paid by Tenant shall thereafter be reduced by a percentage equal to the proportion that the number of square feet in the Leased Premises so taken bears to the number of square feet of Leased Premises before the partial taking.
Permanent Taking a. In the event of a Taking of an entire Hotel, this Agreement shall terminate as of the date of Taking with respect to such Hotel.
b. In the event of a Taking of less than the entire portion of a Hotel, if Manager or Westboy reasonably determines that the remaining land and building or buildings, after necessary repairs, cannot economically and feasibly be operated as a hotel as contemplated in this Agreement, then either Westboy or Manager may terminate this Agreement with respect to such Hotel.
c. Upon any Taking of a Hotel, whether or not this Agreement is terminated with respect to such Hotel, Manager shall, if applicable law permits, undertake separate proceedings with respect to the determination of its loss resulting from the Taking. If such separate proceedings cannot be undertaken, Manager shall nonetheless be entitled to a fair and equitable share of the award or other proceeds of the Taking paid to Westboy to the extent of Manager's loss; provided, however, that Westboy shall receive the entire proceeds attributable to the Taking of all land, the Hotel, the Furniture, Fixtures and Equipment, Operating Supplies, Inventories and Capital Improvements.
d. If this Agreement is not terminated with respect to a Hotel following a partial Taking under this Section 8.1, then this Agreement shall remain in full force and effect with respect to the remainder of the Hotel so taken, and Westboy shall repair, restore, replace or rebuild the remainder of such Hotel to the extent condemnation proceeds are made available to Westboy for such repair, restoration, replacement or rebuilding as nearly as possible to its value, condition and character immediately prior to the Taking. Westboy shall commence the work promptly after the date of the Taking and shall complete the same with diligence.
Permanent Taking. 32 13.2 Temporary Taking. . . . . . . . . . . . . . . . . . . . . . . . . 33
