Taking of Leasehold. Upon the total taking, Xxxxxx’s obligation to pay rent and other charges hereunder shall terminate on the date of taking, or possession given, whichever is earlier, but Xxxxxx’s interest in the leasehold shall continue until the taking is completed by deed, contract or final order of condemnation.
Taking of Leasehold. Upon the total taking, Lessee’s obligation to pay rent and other charges hereunder shall terminate on the date of taking, or possession given, whichever is earlier, but Lessee’s interest in the leasehold shall continue until the taking is completed by deed, contract or final order of condemnation.
Taking of Leasehold. Upon a Total Taking, Lessee's obligation to pay Rent and other charges hereunder shall terminate on the Date of Taking, but Lessee's interest in the leasehold shall continue until the Taking is completed by deed, contract or final order of condemnation. If the Taking is a Substantial Taking under the aforementioned definition, Lessee may, by notice to Lessor within ninety (90) days after Lessee receives notice of the Intended Taking, elect to treat the Taking as a Total Taking. If Lessee does not so notify Lessor, the Taking shall be deemed a Partial Taking. Upon a Partial Taking, this Lease shall remain in full force and effect covering the balance of the Premises not so taken, except that the Rent payable hereunder by Lessee shall be reduced in the same ratio as the percentage of the area of the Premises taken bears to the total area of the Premises.
Taking of Leasehold. Upon a total taking, Tenant’s obligation to pay rent and other charges hereunder shall terminate on the Date of Taking, but Xxxxxx’s interest in the leasehold shall continue until the taking is completed by deed, contract or final order of condemnation. If the taking is substantial under the aforementioned definition, Tenant may, by notice to Landlord within ninety (90) days after Xxxxxx receives notice of the intended taking, elect to treat the taking as a total taking. If Tenant does not so notify Landlord, the taking shall be deemed a partial taking. Upon a partial taking, this Lease shall remain in full force and effect covering the balance of the Premises not so taken, except that the rent payable hereunder by Tenant shall be reduced in the same ratio as the percentage of the area of the Premises taken bears to the total area of the Premises.
Taking of Leasehold. Upon a Taking of the entire Land, Rail Company’s interest in this Agreement shall cease on the first to occur of the date on which Rail Company is denied use of the Land as such use is contemplated hereunder or the date on which such Taking is completed by deed, contract or final order of condemnation; unless otherwise specified by court order. If the Taking is of substantially all of the Land, or substantially all of the access to the Land, or if those portions of the Land that are necessary for Rail Company’s use of the Land as contemplated herein, Rail Company shall be entitled to (i) terminate this Agreement without any penalty or liability (except for matters expressly surviving termination of this Agreement) or (ii) provide the Authority with written notice within ninety (90) day after Rail Company receives notice of the Taking that it will continue performing under the this Agreement with respect to the balance of the Land not so taken, except that Annual Rent payable hereunder by the Rail Company shall be equitably adjusted (a “Partial Taking”) .
Taking of Leasehold. Upon a Taking of the entire Premises, Xxxxxx’s interest in this Lease shall cease on the first to occur of the date on which Xxxxxx is denied use of the Premises as such use is contemplated hereunder or the date on which such Taking is completed by deed, contract, or final order of condemnation, unless otherwise specified by court order. If the Taking is of fifty percent (50%) or more of the Premises, or substantially all of the access to the Premises, or of those portions of the Premises that are necessary for Xxxxxx’s use of the Premises as contemplated herein, Lessee may, by notice to Authority within ninety (90) days after Xxxxxx receives notice of the Taking, elect to treat the taking in accordance with the preceding sentence. If Xxxxxx does not so notify Authority, this Lease shall remain in full force and effect covering the balance of the Premises not so taken, except that the Annual Rent payable hereunder by Xxxxxx shall be equitably adjusted (a “Partial Taking”).
Taking of Leasehold. Upon a Total Taking, Sublessee's obligation to pay Rent and any other charges hereunder together with Sublessee's interest in the leasehold and all rights given hereunder shall terminate on the Date of Taking. Upon a Substantial Taking, Sublessee may, by notice to Sublessor within forty-five (45) days after Sublessee receives notice of the intended Taking, elect to treat the Taking as a Total Taking. If Sublessee does not so notify Sublessor, the Taking shall be deemed a Partial Taking. Upon a Partial Taking, this Sublease shall remain in full force and effect covering the balance of the Subleased Premises not so taken, except that the Rent payable hereunder shall be proportionately reduced to account for the impact of the Taking on the business and operations of the Sublessee at and from the Subleased Premises.
Taking of Leasehold. Upon a Taking of the entire Premises, Lessee’s interest in this Agreement shall continue until the Taking is completed by deed, contract or final order of condemnation; unless otherwise specified by court order. If the Taking is of substantially all of the Premises, Lessee may, by notice to District within ninety (90) days after Lessee receives notice of the Taking, elect to treat the taking in accordance with the preceding sentence. All awards for a taking paid for loss of the amount of the fair market value of the Improvements as of the date of the final, non-appealable order of condemnation is entered (or upon the execution of a voluntary agreement to convey in lieu of condemnation) shall be belong solely to the Lessee, and all of the remaining value of the leasehold shall belong solely to District. If Lessee does not so notify District, this Agreement shall remain in full force and effect covering the balance of the Premises not so taken, except that the Rent payable hereunder by Lessee shall be equitably adjusted (a “Partial Taking”).
