Substantial and Partial. 13.3.1. In the event of the acquisition by condemnation or eminent domain of a portion of interest in the Leased Premises, Xxxxxx’s obligation to pay rent shall cease and terminate as it pertains to the specific portion of the Leased Premises taken as of the date title of the Leased Premises is transferred to the governmental or other permitted Agency taking the Leased Premises for public use. 13.3.1.1. In the event of substantial condemnation or eminent domain which prevents or substantially impairs the conduct of Xxxxxx’s Activities and equates to 30% or more of the total Leased Premises, Lessee may, at Lessee’s option, terminate this Agreement. If terminating this Agreement, Lessee shall notify Lessor of termination within 30 days of notice to acquire a portion of the Leased Premises. 13.3.1.1.1. If Xxxxxx does not notify Lessor of termination, the condemnation or eminent domain shall be considered a partial acquisition. 13.3.1.2. In the event of partial condemnation or eminent domain, Exhibit B. Rent by Component Table shall be adjusted as applicable.
Appears in 4 contracts
Samples: Commercial Lease and Use Agreement, Commercial Lease and Use Agreement, Lease Agreement
Substantial and Partial.
13.3.1. In the event of the acquisition by condemnation or eminent domain of a portion of interest in the Leased Premises, XxxxxxLessee’s obligation to pay rent shall cease and terminate as it pertains to the specific portion of the Leased Premises taken as of the date title of the Leased Premises is transferred to the governmental or other permitted Agency taking the Leased Premises for public use.
13.3.1.1. In the event of substantial condemnation or eminent domain which prevents or substantially impairs the conduct of XxxxxxLessee’s Activities and equates to 30% or more of the total Leased Premises, Lessee may, at Lessee’s option, terminate this Agreement. If terminating this Agreement, Lessee shall notify Lessor of termination within 30 days of notice to acquire a portion of the Leased Premises.
13.3.1.1.1. If Xxxxxx Lessee does not notify Lessor of termination, the condemnation or eminent domain shall be considered a partial acquisition.
13.3.1.2. In the event of partial condemnation or eminent domain, Exhibit B. Rent by Component Table shall be adjusted as applicable.
Appears in 3 contracts
Samples: Non Commercial Lease and Use Agreement, Commercial Lease and Use Agreement, Non Commercial Lease and Use Agreement
Substantial and Partial.
13.3.1. In the event of the acquisition by condemnation or eminent domain of a portion of interest in the Leased Premises, Xxxxxx’s obligation to pay rent shall cease and terminate as it pertains to the specific portion of the Leased Premises taken as of the date title of the Leased Premises is transferred to the governmental or other permitted Agency taking the Leased Premises for public use.
13.3.1.1. In the event of substantial condemnation or eminent domain which prevents or substantially impairs the conduct of Xxxxxx’s Activities and equates to 30% or more of the total Leased Premises, Lessee may, at Lessee’s option, terminate this Agreement. If terminating this Agreement, Lessee shall notify Lessor of termination within 30 days of notice to acquire a portion of the Leased Premises.
13.3.1.1.1. If Xxxxxx does not notify Lessor of termination, the condemnation or eminent domain shall be considered a partial acquisition.
13.3.1.213.3.1.1.2. In the event of partial condemnation or eminent domain, Exhibit B. Rent by Component Table shall be adjusted as applicable.
Appears in 2 contracts
Samples: Non Commercial Lease and Use Agreement, Non Commercial Lease and Use Agreement
