Taking of Premises. If during the Term all of the Premises shall be taken for any public or quasi-public use under any statute or by right of eminent domain, or purchased under threat of such taking, this Lease shall automatically terminate on the date on which the condemning authority takes possession of the Premises (hereinafter called the "date of such taking").
Taking of Premises. If all or any portion of the Premises shall be taken by any public or quasi-public authority as a result of the exercise of the power of eminent domain (which shall include a voluntary sale or transfer by Landlord of all or any portion of the Premises under threat of condemnation), this Lease shall terminate as to the part so taken as of the date of taking, and, in the case of a partial taking which, in the reasonable judgment of Tenant, materially impairs Tenant's ability to conduct its business on the remainder of the Premises, Tenant shall have the right to terminate this Lease as to the remainder of the Premises by written notice given to Landlord within thirty (30) days after the date of such taking. If a material portion of the Building or the Project is taken or if substantial alteration or reconstruction of the Premises, the Building and/or the Project will, in Landlord's reasonable judgment, be necessary or desirable as a result of such condemnation or taking, Landlord may terminate this Lease by written notice given to Tenant within thirty (30) days after the date of such taking.
Taking of Premises. If all or any part of the Premises or the ------------------- Common Area is taken by means of (i) any taking by the exercise of the power of eminent domain, whether by legal proceedings or otherwise, (ii) a voluntary sale or transfer by Landlord to any condemnor under threat of condemnation or while legal proceedings for condemnation are pending, or (iii) any taking by inverse condemnation (a "Condemnation"), and the Premises and the Common Area cannot be reconstructed within a reasonable period of time and thereby made reasonably suitable for Tenant's continued occupancy for Tenant's intended use, then Tenant shall have the option of terminating this Lease. Any such option to terminate by Tenant must be exercised within a reasonable period of time, and will be effective as of the date that possession of the Premises is taken by the condemnor.
Taking of Premises. If all or any part of the Premises shall be taken by any public or quasi-public authority as a result of the exercise of the power of eminent domain, this Lease shall terminate as to the part so taken as of the date of taking, and, in the case of partial taking, either Landlord or Tenant shall have the right to terminate this Lease as to the balance of the Premises by written notice to the other within thirty (30) days after the date of such taking; provided, however, that a condition to the exercise by Landlord or Tenant of such right to terminate shall be that the portion of the Premises taken shall, in Tenant’s and Landlord’s commercially reasonable judgment, be of such extent and nature as substantially to handicap, impede and impair Tenant’s use of the balance of the Premises. If a material part of the Building or the Common Areas are condemned or taken, or if substantial alteration or reconstruction of the Building or Common Areas shall, in Landlord’s reasonable opinion, be necessary as a result of such condemnation or taking, Landlord may terminate this Lease by written notice to Tenant within thirty (30) days after the date of taking. If a material part of the Building or the Common Areas are condemned or taken, and Tenant reasonably determines that it is unable to continue to operate the Premises in the same manner following such condemnation or taking, Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the date of taking.
Taking of Premises. If all or any part of the Premises shall be taken as a result of the exercise of the power of eminent domain or any agreement in lieu thereof, this Lease shall terminate as to the part so taken as of the date of taking and, in the case of a partial taking, Tenant shall have the right to terminate this Lease as to the balance of the Premises by giving written notice to Landlord within thirty (30) days after such date; provided, however, that a condition to the exercise by Tenant of such right to terminate is that not less than twenty-five percent (25%) of the Premises shall have been taken and the portion of the Premises remaining is not reasonably suitable for Tenant's continued occupancy for the uses permitted under this Lease, taking into account the business operations conducted by Tenant on the Premises. If Landlord and Tenant cannot agree on whether the portion of the Premises remaining is not reasonably suitable for Tenant's continued occupancy, then either party shall have the right to refer such matter to arbitration in accordance with the provisions of Section 20.24 of this Lease. The proceeds of any xxxii TABLE OF CONTENTS (CONTINUED) PAGE condemnation award or any conveyance in lieu thereof shall belong to and be paid to Landlord, except that Tenant shall be entitled to petition or apply for and to receive from the condemning authority a separate award (provided that such separate award does not reduce the amount of Landlord's award) including any or all of the following:
Taking of Premises. Landlord shall have the option to terminate this Lease if as a result of a taking by means of the exercise of the power of eminent domain (including a voluntary sale or transfer by Landlord to a condemnor under threat of condemnation),
Taking of Premises. (a) If any portion of the Premises shall be taken under the power of eminent domain by any public or quasi-public authority (a “taking”) and the Premises shall thereafter not be usable for the Permitted Use, either party shall have the right to terminate this Lease as of the date physical possession of the property taken is delivered to the condemning authority (hereinafter referred to as the “effective date of the taking”) by giving notice to the other party of such election within thirty (30) days after the effective date of the taking.
Taking of Premises. If all or a material portion of the Premises shall be taken or condemned permanently for any public purpose, this Lease shall automatically terminate on the date of such taking.
Taking of Premises. 7 12.2 Restoration Following the Taking.................................... 7 12.3
Taking of Premises. A. If, by or through condemnation proceedings, (i.e., a taking under the power of eminent domain or a sale under a threat of condemnation), more than fifteen (15%) percent of the Property or any buildings built thereon is permanently taken or access to and from the Property from and to either N.W. 000xx Xxxxxx xx X.X. 00xx Xxxxxx is taken or ten (10%) percent or more of the parking area of the Property is taken or if any portion of the common area of the Property is taken which materially and substantially impairs access to the Property, then the Tenant shall have the right to terminate this Ground Lease upon giving the Landlord written notice thereof within thirty (30) days from the entry of an appropriate order of taking in such condemnation proceeding.
