Taking of Demised Premises Sample Clauses

Taking of Demised Premises. If during the Term all of the Demised Premises shall be taken for any public or quasi-public use under any statute or by right of eminent domain, or sale-in-lieu of such taking, this Lease shall automatically terminate on the date on which the condemning authority takes possession of the Demised Premises (hereinafter called the “Date of Taking”). If so much of the Demised Premises (but less than all) is taken as shall render the Demised Premises unusable for Tenant’s business purposes, Tenant and Landlord shall each have the right to terminate this Lease by giving written notice to the other party of termination within 30 days after the Date of Taking.
Sample 1Sample 2See All (9)
AutoNDA by SimpleDocs
Taking of Demised Premises. (a) In the event of a Taking of the whole or a substantial part of the Building, other than a Taking for a temporary use, then as of the Taking Date, this Lease shall immediately cease and terminate, and the Base Rent and Additional Rent payable hereunder shall be adjusted as of the Taking Date and Tenant shall have no claim for the value of the unexpired term hereof or to any part of the Award or any claim against Landlord relating to the Taking, except as provided for in Section 13.04 hereof. (b) In the event of a Taking of all or any part of the Demised Premises, Landlord shall have the right to terminate this Lease and shall be entitled to the Award and Tenant shall have no claim for the value of the unexpired term of this Lease and or to any part of the Award or have any claim against Landlord relating to the Taking, except as provided for in Section 13.04 hereof. (c) In the event of a Taking of all of the Demised Premises or such a portion thereof as shall substantially impede or impair Tenant’s use and occupancy of the Demised Premises, then Tenant shall have the right to terminate this Lease as of the Taking Date and Landlord shall be entitled to the Award and Tenant shall have no claim for the value of the unexpired term of this Lease and or to any part of the Award or have any claim against Landlord relating to the Taking, except as provided for in Section 13.04 hereof. (d) In the event neither party shall elect to terminate this Lease as aforesaid, the Base Rent and Additional Rent payable hereunder shall be reduced in proportion to the ratio that the rentable square footage of the Demised Premises so taken bears to the total rentable square footage of the Demised Premises prior to the Taking.
Sample 1Sample 2See All (4)
Taking of Demised Premises. (a) In the event of a Taking of the whole of the Building, Land or Demised Premises, other than a Taking for temporary use, this Lease shall automatically terminate as of the Taking Date. (b) In the event of a Taking of 40% of the Building, 40% of the Land or 50% of the Demised Premises, Landlord, at its sole option, may terminate this Lease by giving written notice to the other party anytime between the period three (3) months prior to the Taking Date and three months after such date. The termination of the Lease shall be effective three months after such notice is received. In the event of a Taking of 50% of the Demised Premises or 50% of the Building which in Tenant's reasonable judgment materially interferes with Tenant's ability to conduct its business in the Demised Premises, or substantially denies or interferes with Tenant's access to the Building or Demised Premises, Tenant shall have the right to terminate this Lease by giving Landlord written notice of its election
Sample 1
Taking of Demised Premises. If all of the Demised Premises shall be taken or appropriated for public or quasi-public use by right of eminent domain with or without litigation or transferred by agreement in connection with such public or quasi-public use, this Lease shall terminate as of the date possession is taken by the condemning authority. If any part (but less than all) of the Demised Premises shall be taken or appropriated for public or quasi-public use by right of eminent domain with or without litigation or transferred by agreement in connection with such public or quasi-public use, Lessee shall have the right at its option exercisable within thirty (30) days of receipt of notice of such taking to terminate this Lease as of the date possession is taken by the condemning authority; provided, however, that before Lessee may terminate this Lease by reason of any partial taking or appropriation as provided hereinabove, such taking or appropriation shall be of such an extent and nature as to materially impair Lessee's use of the Demised Premises. No award for any partial or entire taking shall be apportioned; provided, however, that nothing contained herein shall be deemed to give Lessor any interest in or to require Lessee to assign to Lessor any award made to Lessee for: (i) the taking of personal property and fixtures belonging to Lessee; (ii) interruption of or damage to Lessee's business; or (iii) Lessee's unamortized cost of leasehold improvements. In the event of a partial taking which does not result in a termination of this Lease, upon the date possession is taken by the condemning authority rent shall be abated in the proportion which the part of the Demised Premises so made unusable bears to the area of the Demised Premises immediately prior to the taking.
Sample 1Sample 2
Taking of Demised Premises. (a) If the entire Demised Premises is condemned or otherwise taken, or such portion thereof that, in the good faith judgment of Tenant, the remainder of the Demised Premises is not suitable for Tenant's business purposes, this Lease shall, at Tenant's sole option, terminate as of the date such taking occurs. Such termination shall, however, be without prejudice to the rights of Landlord and Tenant to recover from the condemnor compensation and damage caused by such condemnation or taking. (b) If a portion of the Demised Premises is condemned or otherwise taken and, in the good faith judgment of Tenant, the portion of the Demised Premises remaining after such taking is suitable for Tenant's purposes, the Base Rental thereafter payable by Tenant to Landlord shall be reduced to such extent as may be fair and reasonable to Landlord and Tenant under all of the circumstances. Any such reduction in the Base Rental shall become effective as of the first day of the calendar month following the month in which such condemnation or taking occurs. In the event of such partial condemnation or taking and such judgment by Tenant, then, Tenant shall restore, repair or replace the Building and other improvements on the remaining portion of the Demised Premises, with such changes in the use of the Demised Premises or in the design, type or character of the Building and improvements thereon as Tenant may reasonably deem desirable, to as complete a unit or units of quality and value as near as possible to that existing immediately prior to such taking.
Sample 1
Taking of Demised Premises. In the event any part or all of the Demised Premises are taken by condemnation or otherwise by any government, state or local authority, or in the event Tenant's use of said Demised Premises for the purpose leased is prohibited by reason of a change in zoning regulations or otherwise, then this Lease shall be terminated and canceled as of the time of taking possession by said authority or as of the time the use by Tenant of the Demised Premises is prohibited. All sums which may be payable on account of any condemnation shall belong to Landlord, and Tenant shall not be entitled to any part thereof, provided that Tenant shall be entitled to retain any amount awarded for its trade fixtures or relocation expenses, and the value of improvements made to the Demised Premises at Tenant's expense.
Sample 1
Taking of Demised Premises. If any part of the Demised Premises is taken or condemned for a public or quasi-public use and a part of the Demised Premises and access thereto remains susceptible of occupation under this Lease, this Lease shall, as to the part so taken, terminate as of the date title vests in the condemnor, and the Rent payable under this Lease will be equitably adjusted so that Tenant will be required to pay, for the remainder of the Term, only such portion of the Rent as the number of Rentable Square Feet of the Demised Premises in the part remaining after the condemnation bears to the Rentable Square Feet of the Demised Premises just before such condemnation. In the event of any such reduction in the Rentable Square Feet of the Demised Premises, Tenant's Employee Count shall be reduced by one (1) employee for each reduction of three hundred forty-five (345) in the Rentable Square Feet of the Demised Premises (with Tenant's parking spaces likewise being proportionately reduced).
Sample 1
AutoNDA by SimpleDocs
Taking of Demised Premises. (a) In the event of a Taking of the whole of the Building, Land or a substantial portion of the Demised Premises, other than a Taking for temporary use, this Lease shall automatically terminate as of the Taking Date. Temporary use shall be considered to be a use not exceeding, or not reasonably expected to exceed from the first day of Taking, one hundred eighty (180) days. (b) In the event of a Taking of 40% of the Building, 40% of the Land or 50% of the Demised Premises, Landlord, at its sole option, may terminate this Lease by giving written notice to the other party anytime between the period three (3) months prior to the Taking Date and three months after such date. The termination of the Lease shall be effective three months after such notice is received or such earlier date as mutually agreed to in writing between Landlord and Tenant. Tenant shall have no liability to Landlord for Rent with respect to periods subsequent to the termination of the Lease pursuant to this Section 13.02 (it being understood for purposes of clarification that the foregoing shall not affect those rights or obligations which by the terms of this Lease survive termination of this Lease).
Sample 1
Taking of Demised Premises. If any part of the Demised Premises is taken or condemned for a public or quasi-public use, but a part of the Demised Premises remains susceptible of occupation under this Lease, this Lease shall, as to the part so taken, terminate as of the date title vests in the condemnor, and the Rent payable under this Lease will be adjusted so that Tenant will be required to pay for the remainder of the Term such portion of the Fixed Rent and Additional Rent as the Rentable Area of the Demised Premises in the part remaining after the condemnation bears to the Rentable Area of the entire Demised Premises at the date of condemnation.
Sample 1

Related to Taking of Demised Premises

  • Demised Premises 2.01. Landlord leases to Tenant and Tenant leases from Landlord certain office space (hereinafter called the "Demised Premises") in a nine-story office building currently being renovated (the "Building") situated on certain land more particularly described by metes and bounds in Exhibit A attached hereto (the "Land") leased by Landlord at 0000 Xxx Xxxxx Xxxx in Raleigh, North Carolina. The Demised Premises consists of the square feet of rentable area in the Building disclosed on Schedule I attached to this Lease and made a part hereof (hereinafter called "Schedule I"), all of said space being shown on Exhibit B attached hereto. All calculations of the rentable area of the Demised Premises and the Building shall be made in accordance with the BOMA Standard of Measuring Floor Area of Office Buildings (reprinted in August, 1990). Rentable square feet for any tenant space which constitutes all of the available office space on any floor in the Building shall be as set forth in Exhibit X-x attached hereto. Landlord, at its expense, shall provide Tenant with the Base Building items set forth on Exhibit C-l 2.02. The Demised Premises consist of the unfinished interior office space in the Building. Landlord, at its expense, shall provide Tenant with the "Base Building" items set forth on Exhibit C-l. Landlord, at Tenant's cost, shall also install the items and perform the work (collectively "upfitting") specified in the plans and upfitting requirements set forth in Exhibit C; however, Landlord shall provide Tenant with an upfitting allowance to subsidize Tenant's upfitting cost as specified in Schedule I. All work shall be performed in accordance with the provisions of Article XVI 2.03. Prior to occupancy of the Demised Premises by the Tenant, Landlord and Tenant shall enter into a supplement of this Lease in the forth attached hereto as Exhibit D setting forth the exact measurements of the Demised Premises calculated as provided hereinabove, the Commencement Date and Expiration Date of the term of this Lease as provided in Article IV and the exact amount of the Annual Minimum Rent (hereinafter defined) and monthly installments of minimum rent required in accordance with Article V herein, with such terms, conditions and provisions being consistent with the terms set forth in this Lease as of the date hereof. 2.04. Exhibits A, B, X-x, C, X-x and D and Schedule I mentioned above and Exhibit E mentioned hereafter are attached hereto and incorporated herein by this reference.

  • Leased Premises Lessor hereby leases to Lessee, and Lessee leases and takes from Lessor, the Leased Premises subject to the conditions of this Lease.

  • The Premises Landlord hereby leases to Tenant and Tenant hereby leases from Landlord the premises set forth in Section 2.2 of the Summary (the “Premises”). The outline of the Premises is set forth in Exhibit A attached hereto. The outline of the “Building” and the “Project,” as those terms are defined in Section 1.1.2 below, are further depicted on the Site Plan attached hereto as Exhibit A. The parties hereto agree that the lease of the Premises is upon and subject to the terms, covenants and conditions herein set forth, and Tenant covenants as a material part of the consideration for this Lease to keep and perform each and all of such terms, covenants and conditions by it to be kept and performed. The parties hereto hereby acknowledge that the purpose of Exhibit A is to show the approximate location of the Premises only, and such Exhibit is not meant to constitute an agreement, representation or warranty as to the construction of the Premises, the precise area thereof or the specific location of the “Common Areas,” as that term is defined in Section 1.1.3, below, or the elements thereof or of the accessways to the Premises or the “Project,” as that term is defined in Section 1.1.2, below, and that the square footage of the Premises shall be as set forth in Section 2.1 of the Summary of Basic Lease Information. Except as specifically set forth in this Lease and in the Tenant Work Letter attached hereto as Exhibit B (the “Tenant Work Letter”), Landlord shall not be obligated to provide or pay for any improvement work or services related to the improvement of the Premises. Xxxxxx also acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty regarding the condition of the Premises, the Building or the Project or with respect to the suitability of any of the foregoing for the conduct of Xxxxxx’s business, except as specifically set forth in this Lease and the Tenant Work Letter. For purposes of Section 1938 of the California Civil Code, Landlord hereby discloses to Tenant, and Tenant hereby acknowledges, that the Building and Premises have not undergone inspection by a Certified Access Specialist (CASp). Landlord shall deliver the Premises to Tenant in good, vacant, broom clean condition, in compliance with all laws, with the roof water-tight and shall cause the plumbing, electrical systems, fire sprinkler system, lighting, and all other building systems serving the Premises in good operating condition and repair on or before the Lease Commencement Date, or such earlier date as Landlord and Tenant mutually agree. Landlord will be responsible for causing the exterior of the Building, the existing Building entrances, and all exterior Common Areas (including required striping and handicapped spaces in the parking areas) to be in compliance with ADA and parking requirements, to the extent required to allow the legal occupancy of the Premises or completion of the Tenant Improvements.

  • Subleased Premises Sublandlord hereby subleases to Subtenant and Subtenant hereby subleases from Sublandlord for the term, at the rental, and upon all of the conditions set forth herein, the Subleased Premises.

  • Use of Demised Premises (a) The Demised Premises shall be used for the Permitted Use set forth in Section 1(l) and for no other purpose. (b) Tenant will permit no liens to attach or exist against the Demised Premises, and shall not commit any waste. (c) The Demised Premises shall not be used for any illegal purposes, and Tenant shall not allow, suffer, or permit any vibration, noise, odor, light or other effect to occur within or around the Demised Premises that could constitute a nuisance or trespass for Landlord or any occupant of the Building or an adjoining building, its customers, agents, or invitees. Upon notice by Landlord to Tenant that any of the aforesaid prohibited uses are occurring, Tenant agrees to promptly remove or control the same. (d) Tenant shall not in any way violate any law, ordinance or restrictive covenant affecting the Demised Premises, and shall not in any manner use the Demised Premises so as to cause cancellation of, prevent the use of, or increase the rate of, the fire and extended coverage insurance policy required hereunder. Landlord makes no (and does hereby expressly disclaim any) covenant, representation or warranty as to the Permitted Use being allowed by or being in compliance with any applicable laws, rules, ordinances or restrictive covenants now or hereafter affecting the Demised Premises, and any zoning letters, copies of zoning ordinances or other information from any governmental agency or other third party provided to Tenant by Landlord or any of Landlord's agents or employees shall be for informational purposes only, Tenant hereby expressly acknowledging and agreeing that Tenant shall conduct and rely solely on its own due diligence and investigation with respect to the compliance of the Permitted Use with all such applicable laws, rules, ordinances and restrictive covenants and not on any such information provided by Landlord or any of its agents or employees. (e) In the event insurance premiums pertaining to the Demised Premises, the Building, or the Building Common Area, whether paid by Landlord or Tenant, are increased over the least hazardous rate available due to the nature of the use of the Demised Premises by Tenant, Tenant shall pay such additional amount as Additional Rent.

  • Surrender of Leased Premises 26.1 Tenant shall, at least ninety (90) days before the last day of the term hereof, give to Landlord a written notice of intention to surrender the leased premises on that date, but nothing contained herein shall be construed as an extension of the term hereof or as consent of Landlord to any holding over by Tenant. At the end of the term or any renewal thereof or other sooner termination of this Lease, Tenant will peaceably deliver up to the Landlords possession of the leased premises, together with all improvements or additions upon or belonging to the same, by whosoever made, in substantially the same condition as received, or first installed, ordinary wear and tear and damage by fire, earthquake, act of God or the elements alone excepted. Tenant may, upon the termination of this Lease, remove, at Tenants sole cost, all trade fixtures installed by Tenant, title to which shall be in Tenant until such termination, repairing any damage to the leased caused by such removal. Any of Tenants personal property and trade fixtures not removed by Tenant at the end of the term or other sooner termination of this Lease shall be deemed abandoned by the Tenant if Landlord so elects, and Landlord shall remove, store and disposing of Tenants abandoned personal property and trade fixtures. Tenant shall indemnify Landlord against any loss or liability resulting from delay by Tenant in so surrendering the leased premises, including without limitation, any claims made by any succeeding Tenant founded on such delay.

  • Condition of Leased Premises Tenant hereby acknowledges that Xxxxxx has examined the leased premises prior to the signing of this Lease, or knowingly waived said examination. Tenant acknowledges that Tenant has not relied on any representations made by Landlord or Landlord’s agents regarding the condition of the leased premises and that Tenant takes premises in its AS-IS condition with no express or implied warranties or representations beyond those contained herein or required by applicable Georgia law. Xxxxxx agrees not to damage the premises through any act or omission, and to be responsible for any damages sustained through the acts or omissions of Tenant, Xxxxxx’s family or Xxxxxx’s invitees, licensees, and/or guests. If such damages are incurred, Tenant is required to pay for any resulting repairs at the same time and in addition to the next month’s rent payment, with consequences for non-payment identical to those for non- payment of rent described herein. At the expiration or termination of the Lease, Tenant shall return the leased premises in as good condition as when taken by Tenant at the commencement of the lease, with only normal wear-and-tear excepted. Any modification of this lease shall not be binding upon Landlord unless in writing and signed by Landlord or Landlord’s authorized agent. No oral representation shall be effective to modify this Lease. If, as per the terms of this paragraph, any provision of this lease is newly added, modified, or stricken out, the remainder of this Lease shall remain in full force and effect.

  • DAMAGE TO LEASED PREMISES In the event the building housing the Premises shall be destroyed or damaged as a result of any fire or other casualty which is not the result of the intentional acts or neglect of Lessee and which precludes or adversely affects the Lessee’s occupancy of the Premises, then in every such cause, the rent herein set forth shall be abated or adjusted according to the extent to which the leased Premises have been rendered unfit for use and occupation by the Lessee and until the demised Premises have been put in a condition at the expense of the Lessor, at least to the extent of the value and as nearly as possible to the condition of the Premises existing immediately prior to such damage. It is understood, however, in the event of total or substantial destruction to the Premises that in no event shall the Lessor's obligation to restore, replace or rebuild exceed an amount equal to the sum of the insurance proceeds available for reconstruction with respect to said damage.

  • Use of the Leased Premises (a) Lessor, in consideration of the rents to be paid and covenants herein contained, hereby leases to Lessee the Leased Premises. (b) Lessee may use the Leased Premises for the operation of the station, and, in connection therewith, for the installation, repair, maintenance, operation, housing and removal of its Improvements and other related broadcasting equipment (together comprising the “Installations”). Lessee is fully familiar with the physical condition of the Land and has received the same in good order and condition, and agrees that the Land complies in all respects with all requirements of this Agreement. Lessee shall use the Land exclusively for purposes associated with the operation of the station. (c) Lessee shall have the right from time to time to substitute Installations of similar kind and character for those hereinabove specified, including without limitation, the rebuilding and reconfiguring of the towers on the Real Property, provided such changes shall be approved in advance by Lessor, and Lessor shall not unreasonably delay or withhold its approval. In the event Lessee submits any such changes for Lessor’s approval and Lessor does not respond within thirty (30) days after Lessor’s receipt thereof, then such changes shall be deemed approved by Lessor, so long as such changes otherwise comply with this Agreement. (d) Lessee shall have access to the Leased Premises twenty-four (24) hours per day, seven (7) days per week, for the purpose of installing, maintaining and repairing its Installations, provided that the contractors performing such work are reasonably acceptable to Lessor. (e) Lessor shall not be responsible for repairs or maintenance to the Installations, except for repairs occasioned by the negligence of Lessor, its agents, employees or contractors. (f) Lessee shall not use or permit the Leased Premises to be used by any dangerous, toxic, noxious or offensive trade or business, or for any unlawful purpose. (g) Lessee shall not directly or indirectly create or permit to be created or to remain, and will discharge any mortgage, lien, security interest, encumbrance or charge on, pledge of or conditional sale or other title retention agreement with respect to the Real Property or any part thereof or Lessee’s interest therein other than (i) this Agreement, (ii) any lien, including a mortgage on the leasehold interest of Lessee, which may be approved by the Lessor in writing, which approval shall not be unreasonably withheld, (iii) liens for impositions not yet payable, or payable without the addition of any fine, penalty, interest or cost for non-payment, or being contested as permitted by Paragraph 3(d), below, and (iv) liens of mechanics, materialmen, suppliers or vendors, or rights thereto, incurred in the ordinary course of business for sums which under the terms of the related contracts are not at the time due, provided that adequate provision for the payment thereof shall have been made.

  • Condition of the Premises Tenant has examined the Premises, including the appliances and fixtures ( and furnishings), and acknowledges that they are in good condition and repair, normal wear and tear excepted, and accepts them in its current condition, except for:

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!