Common use of Taking of Whole Clause in Contracts

Taking of Whole. If the whole of the Leased Premises shall be taken or condemned for a public or quasipublic use or purpose by any competent authority or if such a portion of the Leased Premises including, however, a portion of the improvements, shall be so taken that as a result thereof the balance cannot be used for the same purpose as expressed in Article III, then in either of such events, the Lease term shall terminate upon delivery of possession to the condemning authority, and any award, compensation or damages (hereinafter sometimes called the “award”), shall be paid to and be the sole property of Landlord whether such award shall be made as compensation for diminution of the value of the leasehold or the fee of the Leased Premises or otherwise and Tenant hereby assigns to Landlord all of Tenant’s right, title and interest in and to any and all such award. Tenant shall continue to pay rent until the Lease term is terminated and any taxes and/or insurance premiums paid by Tenant, or any tax and insurance premium deposits with Landlord, shall be adjusted between the parties.

Appears in 6 contracts

Samples: Industrial Building Lease (Fenix Parts, Inc.), Agreement (Fenix Parts, Inc.), Combination Agreement (Fenix Parts, Inc.)

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Taking of Whole. If the whole of the Leased Premises shall be taken or condemned for a public or quasipublic quasi-public use or purpose by any a competent authority authority, or if such a portion of the Leased Premises including, however, a portion of the improvements, shall be so taken that as a result thereof the balance cannot be used for the same purpose and with substantially the same utility to Tenant as expressed in Article IIIimmediately prior to such taking, then in either of such events, the Lease term shall terminate upon delivery of possession to the condemning authority, and any award, compensation or damages (hereinafter sometimes called the "award”), ") shall be paid to and be the sole property of Landlord whether such the award shall be made as compensation for diminution of the value of the leasehold estate or the fee of the Leased Premises Real Estate or otherwise and Tenant hereby assigns to Landlord all of Tenant’s 's right, title and interest in and to any and all such award. Tenant shall continue to pay rent and other charges hereunder until the Lease term is terminated and any taxes and/or insurance excess Impositions and excess premiums paid prepaid by Tenant, or any tax and insurance premium deposits with Landlordwhich accrue prior to the termination, shall be adjusted between the parties.

Appears in 2 contracts

Samples: Industrial Space Lease (Tekgraf Inc), Lease (Nelnet Inc)

Taking of Whole. If the whole of the Leased Premises shall be taken or condemned for a public or quasipublic quasi-public use or purpose by any a competent authority authority, or if such a portion of the Leased Premises including, however, a portion of the improvements, shall be so taken that as a result thereof the balance cannot be used for the same purpose and with substantially the same utility to Tenant as expressed in Article IIIimmediately prior to such taking, then in either of such events, the Lease term shall terminate upon delivery of possession to the condemning authority, and any award, compensation or damages (hereinafter sometimes called the “award”), "Award") shall be paid to and be the sole property of Landlord whether such award the Award shall be made as compensation for diminution of the value of the leasehold estate or the fee of the Leased Premises Real Estate or otherwise and Tenant hereby assigns to Landlord all of Tenant’s 's right, title and interest in and to any and all such awardof the Award. Tenant shall continue to pay rent and other charges hereunder until the Lease term is terminated and any taxes and/or insurance Impositions and premiums paid prepaid by Tenant, or any tax and insurance premium deposits with Landlordwhich accrue prior to the termination, shall be adjusted between the parties.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Acacia Automotive Inc), Value City Department Stores Inc /Oh

Taking of Whole. If the whole of the Leased Premises shall be taken or condemned for a public or quasipublic quasi-public use or purpose by any a competent authority authority, or if such a portion of the Leased Premises including, however, a portion of the improvements, shall be so taken that as a result thereof the balance cannot be used for the same purpose and with substantially the same utility to Tenant as expressed in Article IIIimmediately prior to such taking, then in either of such events, the Lease term shall terminate upon delivery of possession to the condemning authority, and any award, compensation or damages (hereinafter sometimes called the “awardAward), ) shall be paid to and be the sole property of Landlord whether such award the Award shall be made as compensation for diminution of the value of the leasehold estate or the fee of the Leased Premises Real Estate or otherwise and Tenant hereby assigns to Landlord all of Tenant’s right, title and interest in and to any and all such awardotherwise. Tenant shall continue to pay rent and other charges hereunder until the Lease term is terminated and any taxes and/or insurance Impositions and premiums paid prepaid by Tenant, or any tax and insurance premium deposits with Landlordwhich accrue prior to the termination, shall be adjusted between the parties.

Appears in 2 contracts

Samples: www.sec.gov, Industrial Lease (DSW Inc.)

Taking of Whole. If the whole of the Leased Premises shall be taken or condemned for a public or quasipublic quasi-public use or purpose by any competent authority or if such a portion of the Leased Premises including, however, a portion of the improvements, shall be so taken that as an a result thereof the balance cannot be used for the same some purpose as expressed in Article IIIIll, then in either of such events, the Lease term shall terminate upon delivery of possession to the condemning authority, and any award, compensation or damages (hereinafter sometimes called the "award"), shall be paid to and be the sole property of Landlord whether such award shall be made as compensation for diminution of the value of the leasehold or the fee of the Leased Premises or otherwise and Tenant hereby assigns to Landlord all of Tenant’s 's right, title and interest in and to any and all such award. Tenant shall continue to pay rent until the Lease term is terminated and any taxes and/or insurance premiums paid by Tenant, or any tax and insurance premium deposits with Landlord, shall be adjusted between the parties.

Appears in 1 contract

Samples: Mfri Inc

Taking of Whole. If the whole of the Leased Premises shall be taken or condemned for a public or quasipublic use or purpose by any competent authority or if such a portion of the Leased Premises including, however, a portion of the improvements, shall be so taken that as a result thereof the balance cannot be used for the same purpose as expressed in Article III, then in either of such events, the Lease term shall terminate upon delivery of possession to the condemning authority, and any award, compensation or damages (hereinafter sometimes called the “award”), shall be paid to and be the sole property of Landlord whether such award shall be made as compensation for diminution of the value of the leasehold or the fee of the Leased Premises or otherwise and Tenant hereby assigns to Landlord all of Tenant’s right, title and interest in and to any and all such award. Tenant shall continue to pay rent until the Lease term is terminated and any taxes and/or insurance premiums paid by Tenant, or any tax and insurance premium deposits with Landlord, shall be adjusted between the parties.

Appears in 1 contract

Samples: Combination Agreement (Fenix Parts, Inc.)

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Taking of Whole. If the whole of the Leased Premises shall be taken or condemned for a public or quasipublic quasi-public use or purpose by any a competent authority authority, or if such a portion of the Leased Premises including, however, a portion of the improvements, shall be so taken that as a result thereof the balance cannot be used for the same purpose and with substantially the same utility to Tenant as expressed in Article IIIimmediately prior to such taking, then in either of such events, the Lease term Term shall terminate upon delivery of possession to the condemning authority, and any award, compensation or damages (hereinafter sometimes called the “award”), "Award") shall be paid to and be the sole property of Landlord whether such award the Award shall be made as compensation for diminution of the value of the leasehold estate or the fee of the Leased Premises Real Estate or otherwise and Tenant hereby assigns to Landlord all of Tenant’s 's right, title and interest in and to any and all such awardof the Award. Tenant shall continue to pay rent and other charges hereunder until the Lease term is terminated and any taxes and/or insurance impositions and premiums paid prepaid by Tenant, or any tax and insurance premium deposits with Landlordwhich accrue prior to the termination, shall be adjusted between the partiesparties except tenant shall have the right to pursue a separate claim for relocation expenses and for its personal property to the extent it does not diminish the award to Landlord for its interest in the premises.

Appears in 1 contract

Samples: Lease Agreement (Norcross Capital Corp)

Taking of Whole. If the whole of the Leased Premises shall be taken or condemned for a public or quasipublic use or purpose by any competent authority or if such a portion of the Leased Premises including, however, a portion of the improvements, shall be so taken that as a result thereof the balance cannot be used for the same purpose as expressed in Article III, then in either of such events, the Lease term shall terminate upon delivery of possession to the condemning authority, and any award, compensation or damages (hereinafter sometimes called the “award”), shall be paid to and be the sole property of Landlord whether such award shall be made as compensation for diminution of the value of the leasehold or the fee fee, or of the Leased Premises or otherwise and Tenant hereby assigns to Landlord all of Tenant’s right, title and interest in and to any and all such award. Tenant shall continue to pay rent until the Lease term is terminated and any taxes and/or insurance premiums paid by Tenant, or any tax and insurance premium deposits with Landlord, shall be adjusted between the parties.

Appears in 1 contract

Samples: Combination Agreement (Fenix Parts, Inc.)

Taking of Whole. If the whole of the Leased Premises leased Premises, or so much thereof, including a portion of the improvements, shall be taken or condemned for a public or quasipublic use or purpose by any competent authority or if such a portion of the Leased Premises including, however, a portion of the improvements, shall be so taken that and as a result thereof the balance of the leased Premises cannot be used for the same purpose as expressed in Article III2, then then, and in either of such events, the Lease term shall terminate upon delivery when possession of possession to the condemning authorityleased Premises shall be so taken and surrendered, and any award, compensation compensation, or damages (hereinafter sometimes called the “hereafter award), shall be paid to and be the sole property of Landlord Lessor, whether such award shall be made as compensation for diminution of the value of the leasehold or the fee of the Leased leased Premises or otherwise otherwise, and Tenant Lessee hereby assigns to Landlord Lessor all of TenantLessee’s right, title title, and interest in and to any and all such award. Tenant Lessee shall continue to pay rent until the Lease term is terminated and any taxes and/or insurance premiums paid by TenantLessee, or any tax and insurance premium deposits with LandlordLessor, shall be adjusted between the parties.. pg. 44

Appears in 1 contract

Samples: Asset Purchase Agreement (Workhorse Group Inc.)

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