Common use of Restoration After Partial Taking Clause in Contracts

Restoration After Partial Taking. If there is a Condemnation which does not result in a termination of this lease, Landlord shall, to the extent of any funds received from the condemning authority for repair or restoration, restore the Project or Premises substantially to their condition prior to such partial Condemnation and Rent shall be abated in the proportion which the square footage of the part of the Premises so made unusable bears to the amount of useable square footage immediately prior to the Condemnation. No temporary taking of a part of the Premises or of the Project shall give Tenant any right to terminate this Lease or to any abatement of Rent.

Appears in 3 contracts

Samples: Lease (Genesis Media Group Inc /De/), Lease (GTC Telecom Corp), Lease (GTC Telecom Corp)

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Restoration After Partial Taking. If there is a Condemnation which does not result in a termination of this lease, Landlord shall, to the extent of any funds received from the condemning authority for repair or restoration, restore the Project or Premises substantially to their condition prior to such partial Condemnation and Rent shall be abated in the proportion which the square footage of the part of the Premises so made unusable bears to the amount of useable square footage immediately prior to the Condemnation. No temporary taking of a part of the Premises or of the Project shall give Tenant any right to terminate this Lease or to any abatement of Rent. 14.

Appears in 2 contracts

Samples: Lease (GTC Telecom Corp), Lease (GTC Telecom Corp)

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