Common use of Taking of the Premises Clause in Contracts

Taking of the Premises. If the whole of the Premises shall be so condemned and taken, then this Lease shall terminate upon such taking. If greater than one-third (1/3) of the floor space of the Premises is condemned or taken or if by reason of any condemnation or taking the remainder of the Premises will not be reasonably adequate for the operation of Tenant's business after Landlord completes such repairs or alterations as Landlord elects to make, either Landlord or Tenant shall have the option to terminate this Lease by notifying the other party hereto of such election in writing within forty-five (45) days after such taking. If by such condemnation and taking one-third (1/3) or less of the Premises has been taken or if a part only of the Premises is taken and the remaining part thereof is suitable for the purposes for which Tenant has leased said Premises, this Lease shall continue in full force and effect. In the event a partial taking does not terminate this Lease, Tenant shall make repairs and restorations to the remaining premises of the nature of Tenant's Work required by Exhibit B, Landlord shall make the proceeds of any condemnation award available to Tenant for such purposes and if Tenant has closed Tenant shall reopen for business promptly after completion of the restoration.

Taking of the Premises. If the whole of the Premises shall be so condemned and taken, then this Lease shall terminate upon such taking. If greater than one-third (1/3) of the floor space of the Premises is condemned or taken or if by reason of any condemnation or taking the remainder of the Premises will not be reasonably adequate for the operation of Tenant's business after Landlord completes such repairs or alterations as Landlord elects to makemake (subject to the limitations which are set forth in Section 1.3), either Landlord or Tenant shall have the option to terminate this Lease by notifying the other party hereto of such election in writing within forty-five (45) days after such taking. If by such condemnation and taking one-third (1/3) or less of the Premises has been taken or if a part only of the Premises is taken and the remaining part thereof is suitable for the purposes for which Tenant has leased said Premises, this Lease shall continue in full force and effect. In the event a partial taking does not terminate this Lease, Tenant shall make repairs and restorations to the remaining premises of the nature of Tenant's Work required by Exhibit B, Landlord shall make the proceeds of any condemnation award available to Tenant for such purposes B and if Tenant has closed Tenant shall promptly reopen for business promptly after completion of the restorationbusiness.