Common use of Taking Affecting Building Clause in Contracts

Taking Affecting Building. Notwithstanding the foregoing, even if the Premises are not affected in whole or in part by a taking, Landlord will have the right to terminate this Lease upon ten (10) days prior written notice to Tenant if a material portion of the Building is taken by condemnation or eminent domain proceedings. Upon any such termination, Landlord and Tenant will each be released from all further liability under this Lease.

Appears in 3 contracts

Samples: Office Lease (Talk Com), Office Lease (Colonial Direct Financial Group Inc), Office Lease (Vfinance Inc)

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Taking Affecting Building. Notwithstanding the foregoing, even if the Premises are not affected in whole or in part by a taking, Landlord either party will have the right to terminate this Lease upon ten (10) days prior written notice to Tenant if a material portion of the Building is taken by condemnation or eminent domain proceedings. Upon any such termination, Landlord and Tenant will each be released from all further liability under this Lease.

Appears in 1 contract

Samples: Office Lease (Universal Insurance Holdings, Inc.)

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