Common use of Taking Clause in Contracts

Taking. If all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant is required to vacate the portion of the Premises so taken. If this Lease is so terminated, all Base and Additional Rent shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restore, to the extent of available proceeds and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to taking.

Appears in 3 contracts

Samples: Work Letter Agreement (Auteo Media Inc), Basic Lease Terms (Helix Biomedix Inc), Basic Lease Terms (Helix Biomedix Inc)

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Taking. If all In case the whole of the Premises are Premises, or such part thereof as shall substantially interfere with Tenant's use and occupancy thereof, shall be taken by Eminent Domainany lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within sixty (60) days of receipt of notice of such taking, either Tenant or Landlord may terminate this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant possession is required to vacate the be surrendered to said authority. If such portion of the Premises Building is so taken. If taken or sold so as to require, in the opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building economically unviable for its use as presently intended, this Lease is so terminatedmay be terminated by Landlord, all Base and Additional Rent shall be paid to as of the date of termination. Whenever any portion the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the Premises is taken by Eminent Domain and this Lease is date on which said vesting will occur. Except as provided herein, Tenant shall not terminated, because of such taking assert any claim against Landlord shall at its expense proceed with all reasonable dispatch to restore, to or the extent taking authority for any compensation because of available proceeds and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. In the event the amount of property or the type of estate taken shall not substantially interfere with Tenant's use of the Premises, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant. In such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall at its expense proceed with all reasonable dispatch be so deprived on account of such taking and restoration. Nothing contained in this Article 13 shall be deemed to restore its give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and all improvements made by it fixtures belonging to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced Tenant or for relocation or business interruption expenses recoverable from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to takingtaking authority.

Appears in 3 contracts

Samples: Office Lease (Vestin Group Inc), Office Lease (Vestin Group Inc), Office Lease (Vestin Group Inc)

Taking. If all In case the whole of the Premises are Premises, or such part thereof or of the Building Property as shall substantially interfere with Tenant’s use and occupancy thereof, shall be taken by Eminent Domain, this Lease shall terminate as any lawful power or authority by exercise of the date Tenant is required right of eminent domain, or sold to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property byprevent such taking, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant within ninety (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (3090) days after Landlord gives Tenant written receipt of notice of the such taking, and such termination shall be either Tenant or Landlord may terminate this Lease effective as of the date when Tenant possession is required to vacate the be surrendered to said authority. If such portion of the Premises Building Property is so taken. If taken or sold so as to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease is so terminatedmay be terminated by Landlord, all Base and Additional Rent shall be paid to as of the date of terminationthe vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occur. Whenever Except as provided herein, Tenant shall not because of such taking assert any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for the value of any unexpired portion of the Term of this Lease, other than for prepaid Rent. If the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use of the Premises is taken by Eminent Domain and this Lease is has not been terminated, Landlord shall at its expense proceed with all reasonable dispatch to restore, be entitled to the extent entire amount of available proceeds the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the extent it is reasonably prudent to do so, the remainder part of the Premises to the condition they were in immediately prior to such takingof which, and Tenant shall at its expense proceed with be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all reasonable dispatch services and utilities provided to restore its and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and all improvements made by it fixtures belonging to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced Tenant or for relocation or business interruption expenses recoverable from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to takingtaking authority.

Appears in 3 contracts

Samples: Office Lease (New Century Financial Corp), Office Lease (New Century Financial Corp), Office Lease (New Century Financial Corp)

Taking. 899 (a) In the event that the Parking Facility, or any part thereof, or access thereto, shall be taken 900 in condemnation proceedings or by exercise of any right of eminent domain or by agreement (such as 901 deed in lieu of an eminent domain action) between Landlord, Tenant, and those authorized to exercise 902 such right (any such matters being hereinafter referred to as a “taking”), Landlord and Tenant shall have 903 the right to participate in any such condemnation proceedings or agreement for the purpose of protecting 904 their interests hereunder. Each party so participating shall pay its own expenses and fees incurred therein. 905 906 (b) If all at any time during the Term of this Lease there shall be a taking of any of the Premises are taken by Eminent DomainParking 907 Facility, so that as a result of the taking, or condemnation or deed in lieu of such taking (the “Taking”), 908 Tenant is unable to use, in a commercially reasonable manner, any portion of the Parking Facility for its 909 intended purpose, this Lease shall terminate as of the date of the Taking. If the effect of a Taking event is 910 to cause Tenant to lose the right to use greater than thirty percent (30%) of the Leased Spaces, Tenant will 911 have the right to terminate this Lease or to keep this Lease in effect and to reduce Rent proportionately in 912 accordance with the number of Leased Spaces taken or which Tenant does not have use of relative to the 913 total number of Leased Spaces that existed just prior to the Taking. If the Parking Facility is required only 914 partially usable after any such taking, then the Landlord shall have the authority to vacate reallocate parking 915 spaces throughout the Premises and all Base and Additional Rent shall be paid Parking Facility subject to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authorityavailability, and any purchase to determine which parking spaces in 916 the Facility will be available for those purposes. Section 11.17(j) shall not apply with respect to an 917 amendment to effectuate the changes provided for in this subsection (b). 918 919 (c) If this Lease shall have terminated as a result of a Taking, or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking if Tenant loses use of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant is required to vacate the 920 portion of the Premises so taken. If this Lease is so terminatedLeased Spaces as a result of a Taking, all Base and Additional Rent then Tenant shall be paid entitled to assert and recover an 921 award from the date of termination. Whenever any portion condemnor for the loss of the Premises is taken by Eminent Domain value of Tenant’s leasehold estate and its other rights under 922 this Lease is not terminatedLease. Additionally, in that action Tenant shall be entitled to assert a claim against condemnor and 923 receive compensation from the condemnor for its other damages incurred as a result of such 924 condemnation. Landlord shall at its expense proceed with all reasonable dispatch be entitled to restore, to assert and recover an award from the extent condemnor for the loss 925 of available proceeds and to Landlord’s remainder interest in the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property fee estate and all improvements made other damages and amounts allowed by it to the Premises to the same condition they were in immediately prior to such takinglaw. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to taking.926

Appears in 2 contracts

Samples: Parking Lease Agreement, Parking Lease Agreement

Taking. If all In case the whole of the Premises are Premises, or such part thereof as shall substantially interfere with Tenant’s use and occupancy of the entirety thereof, shall be taken by Eminent Domain, this Lease shall terminate as any lawful power or authority by exercise of the date Tenant is required right of eminent domain, or sold to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property byprevent such taking, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant within sixty (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (3060) days after Landlord gives Tenant written delivery of notice of the such taking, and such termination shall be either Tenant or Landlord may terminate this Lease effective as of the date when Tenant possession is required to vacate the be surrendered to said authority. If such portion of the Premises Building or Project is so taken. If taken or sold in lieu thereof so as to require, in the opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building or Project economically unviable for its use as presently intended, or any Landlord’s Mortgagee requires that Landlord terminate this Lease, this Lease is so terminatedmay be terminated by Landlord, all Base and Additional Rent shall be paid to as of the date of termination. Whenever any portion the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the Premises is taken by Eminent Domain date on which said vesting will occur. Tenant shall not because of such taking assert any claim against Landlord or any Landlord’s Mortgagee for any compensation because of such taking, and Landlord shall be entitled to receive the amount of any award made to Landlord. In the event this Lease is not terminatedterminated pursuant to this Section 14.1, Landlord shall at its expense proceed with all reasonable dispatch restore the Building to restoresubstantially their condition prior to such partial taking, and the Base Rent and Tenant’s Pro Rata Share of Operating Expenses shall be abated in proportion to the extent of available proceeds time during which, and to the extent it is reasonably prudent to do so, the remainder part of the Premises to of which, Tenant is actually deprived on account of such taking and restoration. Notwithstanding the condition they were in immediately prior to such takingforegoing, and during any Rent abatement under this Lease, Tenant shall at its expense proceed with continue to be obligated to pay Landlord for all reasonable dispatch services and utilities provided to restore its and used by Tenant during the period of the Rent abatement. Nothing contained in this Section shall be deemed to give Landlord any interest in, or prevent Tenant from seeking a separate award against the taking authority for, the taking of personal property and all improvements made by it fixtures belonging to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced Tenant, for relocation or business interruption expenses recoverable from the date taking authority, loss of business or goodwill, for the taking of Tenant’s trade fixtures, the Tenant is required to partially vacate Improvements, Tenant’s leasehold estate, the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area cost of the Premises prior to takingrelocating Tenant and/or disruption of Tenant’s business, so long as Tenant’s award does not diminish Landlord’s award.

Appears in 2 contracts

Samples: Office Lease (YETI Holdings, Inc.), Office Lease (YETI Holdings, Inc.)

Taking. If all In case the whole of the Premises are Premises, or such part thereof as shall substantially interfere with Tenant’s use and occupancy thereof, shall be taken by Eminent Domainany lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within 60 days after receipt of notice of such taking, either Tenant or Landlord may terminate this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant possession is required to vacate the be surrendered to said authority. If such portion of the Premises Building or Property is so takentaken or sold so as to require, in the opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building or Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within 60 days following notice to Landlord of the date on which said vesting will occur. Except as provided herein, Tenant shall not because of such taking assert any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. If this Lease is so terminatedthe amount of property or the type of estate taken shall not substantially interfere with Tenant’s use of the Premises, all Base Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant. In such event, Landlord shall promptly proceed to restore the Premises and Additional the Building to substantially their condition prior to such partial taking, and the Rent shall be paid abated in proportion to the date time during which, and to the part of terminationthe Premises of which, Tenant shall be so deprived on account of such taking and restoration. Whenever Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord for all services and utilities provided to and used by Tenant during the period of the Rent abatement. Nothing contained in this Article shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority. Notwithstanding that the entire Premises are not condemned or taken for any public or quasi-public use or purpose, Tenant shall have the right to terminate this Lease in the event that (i) a portion of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restore, to such that the extent of available proceeds and to the extent it is reasonably prudent to do so, the remainder remaining portion of the Premises cannot be used for its intended purposes, as reasonably determined by Tenant; (ii) access to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it Building is taken; (iii) vehicular access to the Premises Garage is taken; or (iv) the existing parking spaces leased to Tenant are taken (unless Landlord replaces the lost parking spaces with new parking spaces within reasonable proximity to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to takingBuilding).

Appears in 1 contract

Samples: Loan Agreement (Thomas Properties Group Inc)

Taking. If all In case the whole of the Premises are Premises, or such part thereof as shall substantially interfere with Tenant's use and occupancy thereof, shall be taken by Eminent Domainany lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within sixty (60) days of receipt of notice of such taking, either Tenant or Landlord may terminate this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant possession is required to vacate the be surrendered to said authority. If such portion of the Premises Building or Project is so taken. If taken or sold so as to require, in the opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building or Project economically unviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease is so terminatedmay be terminated by Landlord, all Base and Additional Rent shall be paid to as of the date of termination. Whenever any portion the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the Premises is taken by Eminent Domain and this Lease is date on which said vesting will occur. Except as provided herein, Tenant shall not terminated, because of such taking assert any claim against Landlord shall at its expense proceed with all reasonable dispatch to restore, to or the extent taking authority for any compensation because of available proceeds and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. In the event, the amount of property or the type of estate taken shall not substantially interfere with Tenant's use of the Premises, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant. In such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall at its expense proceed with all reasonable dispatch be so deprived on account of such taking and restoration. Nothing contained in this Article 11 shall be deemed to restore its give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and all improvements made by it fixtures belonging to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced Tenant or for relocation or business interruption expenses recoverable from the date taking authority. Nothing in this paragraph shall prohibit Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area from making a claim on its behalf against any public authority for damages Tenant incurs as a result of a taking or exercise of the Premises prior to takingright of eminent domain.

Appears in 1 contract

Samples: Lease Agreement (CLS Holdings USA, Inc.)

Taking. If all In case the whole of the Premises are Premises, or such part thereof as shall substantially interfere with Tenant’s use and occupancy thereof, shall be taken by Eminent Domainany lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within 60 days after receipt of notice of such taking, either Tenant or Landlord may terminate this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant possession is required to vacate the be surrendered to said authority. If such portion of the Premises Building or Property is so takentaken or sold so as to require, in the opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building or Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within 60 days following notice to Landlord of the date on which said vesting will occur. Except as provided herein, Tenant shall not because of such taking assert any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. If this Lease is so terminatedthe amount of property or the type of estate taken shall not substantially interfere with Tenant’s use of the Premises, all Base Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant. In such event, Landlord shall promptly proceed to restore the Premises and Additional the Building to substantially their condition prior to such partial taking, and the Rent shall be paid abated in proportion to the date time during which, and to the part of terminationthe Premises of which, Tenant shall be so deprived on account of such taking and restoration. Whenever Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord for all services and utilities provided to and used by Tenant during the period of the Rent abatement. Nothing contained in this Article shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority. Notwithstanding that the entire Premises are not condemned or taken for any public or quasi-public use or purpose, Tenant shall have the right to terminate this Lease in the event that (i) a portion of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restore, to such that the extent of available proceeds and to the extent it is reasonably prudent to do so, the remainder remaining portion of the Premises cannot be used for its intended purposes, as reasonably determined by Tenant; (ii) access to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it Building is taken; (iii) vehicular access to the Premises Garage is taken; or (iv) the existing parking spaces leased to Tenant are taken (unless Landlord replaces the lost parking spaces with new parking spaces within reasonable proximity to the same condition they were in immediately prior to such takingBuilding). The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to taking.13.2

Appears in 1 contract

Samples: Office Lease (Lincoln National Corp)

Taking. If all In case the whole of the Premises are Premises, or such part thereof as shall substantially interfere with Tenant’s use and occupancy thereof, shall be taken by Eminent Domainany lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within sixty (60) days of receipt of notice of such taking, either Tenant or Landlord may terminate this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant possession is required to vacate the be surrendered to said authority. If such portion of the Premises Building is so taken. If taken or sold so as to require, in the opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building economically unviable for its use as presently intended, this Lease is so terminatedmay be terminated by Landlord, all Base and Additional Rent shall be paid to as of the date of termination. Whenever any portion the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the Premises is taken by Eminent Domain and this Lease is date on which said vesting will occur. Except as provided herein, Tenant shall not terminated, because of such taking assert any claim against Landlord shall at its expense proceed with all reasonable dispatch to restore, to or the extent taking authority for any compensation because of available proceeds and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. In the event the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use of the Premises, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant. In such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall at its expense proceed with all reasonable dispatch be so deprived on account of such taking and restoration. Nothing contained in this Article 13 shall be deemed to restore its give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and all improvements made by it fixtures belonging to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced Tenant or for relocation or business interruption expenses recoverable from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to takingtaking authority.

Appears in 1 contract

Samples: Office Lease (Vestin Fund Iii LLC)

Taking. If all In case the whole of the Premises are Premises, or such part thereof as shall substantially interfere with Tenant's use and occupancy thereof, shall be taken by Eminent Domainany lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within sixty (60) days of receipt of notice of such taking, either Tenant or Landlord may terminate this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant possession is required to vacate the be surrendered to said authority. If such portion of the Premises Building or Project is so taken. If taken or sold so as to require, in the opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building or Project economically unviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease is so terminatedmay be terminated by Landlord, all Base and Additional Rent shall be paid to as of the date of termination. Whenever any portion the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the Premises is taken by Eminent Domain and this Lease is date on which said vesting will occur. Except as provided herein, Tenant shall not terminated, because of such taking assert any claim against Landlord shall at its expense proceed with all reasonable dispatch to restore, to or the extent taking authority for any compensation because of available proceeds and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. In the event, the amount of property or the type of estate taken shall not substantially interfere with Tenant' s use of the Premises, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant. In such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall at its expense proceed with all reasonable dispatch be so deprived on account of such taking and restoration. Nothing contained in this Article 11 shall be deemed to restore its give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and all improvements made by it fixtures belonging to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced Tenant or for relocation or business interruption expenses recoverable from the date taking authority. Nothing in this paragraph shall prohibit Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area from making a claim on its behalf against any public authority for damages Tenant incurs as a result of a taking or exercise of the Premises prior to takingright of eminent domain.

Appears in 1 contract

Samples: Lease Agreement (CLS Holdings USA, Inc.)

Taking. (a) If all the whole or a material portion of the Premises Facility or any Colocation Space is taken under the power of eminent domain, or sold to a governmental authority to prevent the exercise thereof (collectively, a “Taking”), the applicable Agreement or Agreements (that are taken affected by Eminent Domain, this Lease such Taking) shall automatically terminate as of the earlier of the date Tenant is required to vacate of transfer of title resulting from such Taking or the Premises and all Base and Additional Rent shall be paid to that datedate of transfer of possession resulting from such Taking (the “Taking Date”). The term "Eminent Domain" shall include (b) In the taking or damaging event of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether a Taking of: (i) such portion of the damaging or taking is by government or any other person. IfFacility as shall, in the reasonable judgment opinion of LandlordSupplier, substantially interfere with Supplier’s operation thereof for a taking period of time in excess of one hundred eighty (180) days, Supplier may terminate the applicable Agreement or Agreements (that are affected by such Taking) upon the Taking Date by delivery of written notice to Customer given at any part time prior to the Taking Date or (ii) such portion of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant Facility or any Colocation Space as shall prevent Customer (or its sublicensee) from conducting Customer’s (or its sublicensee’s) business in any portion of a Colocation Space, for a period of time in excess of one hundred eighty (180) days. Customer shall have the option to terminate the applicable Agreement or Agreements (that are affected by such Taking) upon the Taking Date by delivery of written notice to Supplier given at any time prior to the Taking Date. (c) If a portion of a Colocation Space is so taken and the applicable Agreement is not terminated: (i) Supplier shall, with reasonable diligence and at Supplier’s cost of restoration (to the extent of the Premises is not commercially reasonablecondemnation award received by Supplier), the Lease may, at the option of either party, be terminated by written notice given proceed to restore (to the extent permitted by applicable Laws) the applicable Colocation Space and the Facility (other party not more than thirty Customer Equipment) to a complete, functioning unit and (30ii) days after Landlord gives Tenant written notice of the taking, and such termination Charges payable hereunder shall be effective as of the date when Tenant is required to vacate equitable reduced based on the portion of the Premises so takenColocation Space that Customer is prevented from using for the Permitted Use as a result of such Taking. If (d) Except as expressly provided otherwise in this Lease is so terminatedSection 10.2, all Base and Additional Rent the entire award for any Taking shall belong to Supplier (without deduction for any estate or interest of Customer), except that Customer shall be paid entitled to independently pursue a separate award for the date loss of, or damage to, Customer Equipment and Customer’s relocation costs directly associated with the Taking (but Customer shall not otherwise assert any claim against Supplier or the condemning authority). No temporary Taking (for less than one hundred eighty (180) days days) of termination. Whenever the Facility of any Customer (or any portion thereof) shall terminate any Agreement or entitle Customer to any abatement or reduction of the Premises is taken Charges payable by Eminent Domain and this Lease is not terminatedCustomer hereunder; provided that any award for any such temporary Taking shall belong to Customer, Landlord shall at its expense proceed with all reasonable dispatch to restore, but only to the extent that the award applies to any time period during the Term of available proceeds the applicable Agreement. (e) This Section 10.2 shall be Customer’s sole and exclusive remedy in the event of a Taking, and each of Supplier and Customer hereby waives the provisions of any Laws to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such takingcontrary. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to taking11.

Appears in 1 contract

Samples: Master Colocation Services Agreement (Super Micro Computer, Inc.)

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Taking. If all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any substantial part of the Premises shall be taken for any public or quasi-public use under governmental law or by Eminent Domain renders right of eminent domain and such taking would materially interfere with the remainder thereof unusable for the business of Tenant (or the cost of restoration use of the Premises is not commercially reasonable)by Tenant for the purposes contemplated by this Lease, then the Lease may, at the option of either party, may be terminated by written notice given to either Landlord or Tenant. Landlord or Tenant shall make such election by giving the other party not more than written notice within sixty (60) days after the event giving rise to a right to terminate. Any such termination shall be effective thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant is required to vacate of notice thereof and in the portion case where all or substantially all of the Premises so taken. If this Lease is so terminated, all Base and Additional Rent shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and or when Landlord terminates this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restoreLease, to the extent that Landlord pays to each Mortgagee any amount necessary, when added to any condemnation award which Xxxxxx is entitled to retain, will be sufficient to pay-off the then existing outstanding principal indebtedness then owed to such Mortgage. If any taking materially interferes with Xxxxxx’s use and occupation of available proceeds any part of the Premises, a just portion of the rent shall be abated from the date the Premises or such lesser part are rendered unusable until the date when the Premises (or in the case of a partial taking, what remains thereof) shall be put in proper condition for use and occupation. Tenant shall receive a permanent abatement of rent to the extent it is reasonably prudent to do so, the remainder that all or any part of the Premises cannot be so used and occupied for the balance of theTerm. Landlord reserves all rights to damages payable by reason of anything lawfully done in pursuance of any public or other authority and, by way of confirmation, Tenant grants to Landlord all of Tenant’s rights to such damages and agrees to execute and deliver such further instruments of assignment thereof as Landlord may from time to time request, provided, however, that Tenant reserves for itself any award specifically reimbursing Tenant for moving or relocation expenses and any other award the payment of which does not diminish the amount otherwise payable to Landlord. Tenant shall also be entitled to share in the award proportionately to the condition they were in immediately prior to such taking, and unamortized value of any lease improvements constructed by Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it pursuant to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area terms of the Premises prior to takingthis Lease.

Appears in 1 contract

Samples: Lease

Taking. If all In case the whole of the Premises are Premises, or such part thereof as shall substantially interfere with Tenant’s use and occupancy thereof, shall be taken by Eminent Domain, this Lease shall terminate as any lawful power or authority by exercise of the date Tenant is required right of eminent domain, or sold to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property byprevent such taking, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant within sixty (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (3060) days after Landlord gives Tenant written receipt of notice of the such taking, and such termination shall be either Tenant or Landlord may terminate this Lease effective as of the date when Tenant possession is required to vacate the be surrendered to said authority. If such portion of the Premises Building or Project is so taken. If taken or sold so as to require, in the opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building or Project economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease is so terminatedmay be terminated by Landlord, all Base and Additional Rent shall be paid to as of the date of termination. Whenever any portion the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the Premises is taken by Eminent Domain and this Lease is date on which said vesting will occur. Except as provided herein, Tenant shall not terminated, because of such taking assert any claim against Landlord shall at its expense proceed with all reasonable dispatch to restore, to or the extent taking authority for any compensation because of available proceeds and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. If the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use of the Premises, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant. In such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall at its expense proceed with be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all reasonable dispatch services and utilities provided to restore its and used by Tenant during the period of the rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and all improvements made by it fixtures belonging to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced Tenant or for relocation or business interruption expenses recoverable from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to takingtaking authority.

Appears in 1 contract

Samples: Office Lease (Genius Products Inc)

Taking. If all In case the whole of the Premises are Premises, or such part thereof as shall substantially interfere with Tenant’s use and occupancy thereof, shall be taken by Eminent Domain, this Lease shall terminate as any lawful power or authority by exercise of the date Tenant is required right of eminent domain, or sold to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property byprevent such taking, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant within sixty (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (3060) days after Landlord gives Tenant written receipt of notice of the such taking, and such termination shall be either Tenant or Landlord may terminate this Lease effective as of the date when Tenant possession is required to vacate the be surrendered to said authority. If such portion of the Premises Building or Project is so taken. If taken or sold so as to require, in the opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building or Project economically unviable for its use as presently intended, or requires cancellation of tenant leases representing substantially all of the Building, this Lease is so terminatedmay be terminated by Landlord, all Base and Additional Rent shall be paid to as of the date of termination. Whenever any portion the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the Premises is taken by Eminent Domain and this Lease is date on which said vesting will occur. Except as provided herein, Tenant shall not terminated, because of such taking assert any claim against Landlord shall at its expense proceed with all reasonable dispatch to restore, to or the extent taking authority for any compensation because of available proceeds and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. If the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use of the Premises, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant. In such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall at its expense proceed with be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all reasonable dispatch services and utilities provided to restore its and used by Tenant during the period of the rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and all improvements made by it fixtures belonging to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced Tenant or for relocation or business interruption expenses recoverable from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to takingtaking authority.

Appears in 1 contract

Samples: Office Lease (Maguire Properties Inc)

Taking. If all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any substantial part of the Premises shall be taken for any public or quasi-public use under governmental law or by Eminent Domain renders right of eminent domain and such taking would materially interfere with the remainder thereof unusable for the business of Tenant (or the cost of restoration use of the Premises is not commercially reasonable)by Tenant for the purposes contemplated by this Lease, then the Lease may, at the option of either party, may be terminated by written notice given to either Landlord or Tenant. Landlord or Tenant shall make such election by giving the other party not more than written notice within sixty (60) days after the event giving rise to a right to terminate. Any such termination shall be effective thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant is required to vacate of notice thereof and in the portion case where all or substantially all of the Premises so taken. If this Lease is so terminated, all Base and Additional Rent shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and or when Landlord terminates this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restoreLease, to the extent that Landlord pays to each Mortgagee any amount necessary, when added to any condemnation award which Tenant is entitled to retain, will be sufficient to pay-off the then existing outstanding principal indebtedness then owed to such Mortgage. If any taking materially interferes with Tenant’s use and occupation of available proceeds any part of the Premises, a just portion of the rent shall be abated from the date the Premises or such lesser part are rendered unusable until the date when the Premises (or in the case of a partial taking, what remains thereof) shall be put in proper condition for use and occupation. Tenant shall receive a permanent abatement of rent to the extent it is reasonably prudent to do so, the remainder that all or any part of the Premises cannot be so used and occupied for the balance of theTerm. Landlord reserves all rights to damages payable by reason of anything lawfully done in pursuance of any public or other authority and, by way of confirmation, Tenant grants to Landlord all of Tenant’s rights to such damages and agrees to execute and deliver such further instruments of assignment thereof as Landlord may from time to time request, provided, however, that Tenant reserves for itself any award specifically reimbursing Tenant for moving or relocation expenses and any other award the payment of which does not diminish the amount otherwise payable to Landlord. Tenant shall also be entitled to share in the award proportionately to the condition they were in immediately prior to such taking, and unamortized value of any lease improvements constructed by Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it pursuant to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area terms of the Premises prior to takingthis Lease.

Appears in 1 contract

Samples: Lease

Taking. If all (a) In case the whole of the Premises, or such part thereof as shall substantially interfere with Tenant's use and occupancy of the remainder of the Premises are not so taken, shall be taken by Eminent Domainany lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within sixty (60) days of receipt of notice of such taking, either Tenant or Landlord may terminate this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant possession is required to vacate be surrendered to said authority. If such portion of the Building or the Project is so taken or sold so as to require, in the opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building or the Project economically unviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occur. Except as provided herein, Tenant shall not because of such taking assert any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. In the event that the amount of property or the type of estate taken shall not substantially interfere with Tenant's use of the Premises, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant. Subject to Section 13.2, in the event of a taking of a ------------ portion of the Premises so taken. If which does not result in the termination of this Lease is so terminatedLease, all Base Landlord shall promptly proceed to restore the Premises substantially to their condition prior to such taking, and Additional the Rent shall be paid abated in proportion to the date of termination. Whenever any portion time during which, and to the part of the Premises is taken by Eminent Domain of which, Tenant shall be so deprived on account of such taking and this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restore, restoration (including the restoration of tenant improvements to the extent that funds are available from the condemning authority or Tenant) in accordance with Section 12.3. For purposes of available proceeds and to the extent it is reasonably prudent to do so------------ this Section 13.1, the remainder of Premises shall be deemed to have been restored to ------------ substantially their condition prior to such partial taking when Landlord has repaired or restored the Premises to substantially the same (or better) condition they as the Premises were in immediately prior to such takingcasualty, and Landlord has given Tenant sufficient time (but in no event more than two (2) weeks) and access to reinstall and reconnect Tenant's personal property, furniture, fixtures and equipment in the Premises. Notwithstanding the foregoing, during any rent abatement under this Lease, Tenant shall at its expense proceed with all reasonable dispatch continue to restore its personal property and all improvements made by it be obligated to the Premises to the same condition they were in immediately prior to such taking. The Base and pay Landlord Additional Rent payable hereunder (including, without limitation, Additional Rent under Article 5) for all services and utilities provided to and used by Tenant during the period of the rent abatement. Nothing contained in this Article 13 shall be reduced deemed to give Landlord any interest in, or prevent ---------- Tenant from seeking any award against the taking authority for, the taking of personal property, tenant improvements and Tenant Alterations and FF&E belonging to Tenant or for relocation or business interruption expenses recoverable from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to takingtaking authority.

Appears in 1 contract

Samples: Lease (Global Crossing LTD)

Taking. If all In case the whole of the Premises are Premises, or such part thereof as shall substantially interfere with Tenant’s use and occupancy thereof, shall be taken by Eminent Domain, this Lease shall terminate as any lawful power or authority by exercise of the date Tenant is required right of eminent domain, or sold to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property byprevent such taking, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant within sixty (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (3060) days after Landlord gives Tenant written receipt of notice of the such taking, and such termination shall be either Tenant or Landlord may terminate this Lease effective as of the date when Tenant possession is required to vacate the be surrendered to said authority. If such portion of the Premises Building or Project is so taken. If taken or sold so as to require, in the opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building or Project economically unviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease is so terminatedmay be terminated by Landlord, all Base and Additional Rent shall be paid to as of the date of termination. Whenever any portion the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the Premises is taken by Eminent Domain and this Lease is date on which said vesting will occur. Except as provided herein, Tenant shall not terminated, because of such taking assert any claim against Landlord shall at its expense proceed with all reasonable dispatch to restore, to or the extent taking authority for any compensation because of available proceeds and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. If the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use of the Premises, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant. In such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall at its expense proceed with all reasonable dispatch be so deprived on account of such taking and restoration. Nothing contained in this Article 12 shall be deemed to restore its give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and all improvements made by it fixtures belonging to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced Tenant or for relocation or business interruption expenses recoverable from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to takingtaking authority.

Appears in 1 contract

Samples: Work Letter Agreement (MPG Office Trust, Inc.)

Taking. If all In case the whole of the Premises are Premises, or such part thereof as shall substantially interfere with Tenant’s use and occupancy thereof, shall be taken by Eminent Domainany lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within sixty (60) days of receipt of notice of such taking, either Tenant or Landlord may terminate this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant possession is required to vacate the be surrendered to said authority. If such portion of the Premises Building or Project is so taken. If taken or sold so as to require, in the opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building or Project economically unviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease is so terminatedmay be terminated by Landlord, all Base and Additional Rent shall be paid to as of the date of termination. Whenever any portion the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the Premises is taken by Eminent Domain and this Lease is date on which said vesting will occur. Except as provided herein, Tenant shall not terminated, because of such taking assert any claim against Landlord shall at its expense proceed with all reasonable dispatch to restore, to or the extent taking authority for any compensation because of available proceeds and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. In the event, the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use of the Premises, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant. In such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall at its expense proceed with all reasonable dispatch be so deprived on account of such taking and restoration. Nothing contained in this Article 11 shall be deemed to restore its give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and all improvements made by it fixtures belonging to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced Tenant or for relocation or business interruption expenses recoverable from the date taking authority. Nothing in this paragraph shall prohibit Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area from making a claim on its behalf against any public authority for damages Tenant incurs as a result of a taking or exercise of the Premises prior to takingright of eminent domain.

Appears in 1 contract

Samples: Lease Agreement (CLS Holdings USA, Inc.)

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