Taking. If the whole of the Premises is taken, either permanently or temporarily, by eminent domain or condemnation, this Lease shall automatically terminate as of the date title vests in the condemning authority, and Tenant shall pay all Base Rent, Additional Rent, and other payments up to the date on which Tenant loses the right of possession and use of all or substantially all of the Premises. If any part of the Premises is permanently taken, or if access to the Premises by Tenant is, by virtue of a taking, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (to be exercised by written notice to the other within sixty (60) days after receipt of notice of said taking) to terminate this Lease from the date when possession is taken thereunder pursuant to such proceeding or purchase. If neither parry elects to terminate this Lease, as aforesaid, then Landlord shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises is taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises taken. If there is a temporary taking involving the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access to the Building and Premises, then this Lease shall not terminate, and Landlord shall repair and restore, at its own expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises was taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises taken.
Appears in 1 contract
Samples: Deed of Lease (NCI, Inc.)
Taking. If the whole all of the Premises is taken, either permanently or temporarily, are taken by eminent domain or condemnationEminent Domain, this Lease shall automatically terminate as of the date title vests in Tenant is required to vacate the condemning 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 Tenant shall pay all Base Rentany purchase or acquisition in lieu thereof, Additional Rent, and whether the damaging or taking is by government or any other payments up to the date on which Tenant loses the right of possession and use of all or substantially all of the Premisesperson. If a taking of any part of the Premises is permanently taken, by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or if access to the cost of restoration of the Premises by Tenant isis not commercially reasonable), by virtue the Lease may, at the option of a takingeither party, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (to be exercised terminated by written notice given to the other within sixty party not more than thirty (6030) days after receipt of Landlord gives Tenant written notice of said the taking) to terminate this Lease from , and such termination shall be effective as of the date when possession Tenant is taken thereunder pursuant required to such proceeding or purchasevacate the portion of the Premises so taken. If neither parry elects to terminate this LeaseLease is so terminated, as aforesaid, then Landlord all Base and Additional Rent shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole be paid to the fullest extent reasonably possible, and, if date of termination. Whenever any portion of the Premises is takentaken by Eminent Domain and this Lease is not terminated, thereafter 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 (on a per square foot basis) from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the portion total Rentable Area of the Premises takenprior to taking. If there is a temporary taking involving the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access to the Building and Premises, then this Lease shall not terminate, and Landlord shall repair and restore, at its own expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises was taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises taken.b.
Appears in 1 contract
Taking. If the whole there shall be a total taking of the Premises is taken, either permanently Building in condemnation proceedings or temporarily, by any right of eminent domain or condemnationdomain, this Lease and the Term and estate hereby granted shall automatically terminate as of the date title vests of taking of possession by the condemning authority and all Base Rent and Additional Rent under Article 4 shall be prorated and paid as of such termination date. If there shall be a taking of any material (in Landlord’s reasonable judgment) portion of the Land or the Building (whether or not the Premises are affected by such taking), then Landlord may terminate this Lease and the Term and estate granted hereby by giving notice to Tenant within 60 days after the date of taking of possession by the condemning authority, and Tenant . If there shall pay all Base Rent, Additional Rent, and other payments up to be a taking of the date on which Tenant loses the right Premises of possession and use of all or substantially all such scope (but in no event less than 25% of the Premises. If any ) that the untaken part of the Premises is permanently taken, or if access would in Tenant’s reasonable judgment be uneconomic to the Premises by Tenant is, by virtue of a taking, permanently denied, by eminent domain or condemnationoperate, then Tenant may terminate this Lease and the Term and estate granted hereby by giving notice to Landlord within 60 days after the date of taking of possession by the condemning authority. If either Landlord or Tenant shall have the right (to be exercised by written give a termination notice to the other within sixty (60) days after receipt of notice of said taking) to terminate this Lease from the date when possession is taken thereunder pursuant to such proceeding or purchase. If neither parry elects to terminate this Lease, as aforesaid, then Landlord this Lease and the Term and estate granted hereby shall within terminate as of the date of such notice and all Base Rent and Additional Rent under Article 4 shall be prorated and paid as of such termination date. In the event of a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion taking of the Premises is taken, thereafter which does not result in the Base Rent shall be reduced termination of this Lease (on a per square foot basisa) in proportion the Term and estate hereby granted with respect to the portion taken part of the Premises taken. If there is a temporary taking involving shall terminate as of the Premises or Building, if a date of taking of other portions of possession by the Building or Common Areas does not deny Tenant access condemning authority and all Base Rent and Additional Rent under Article 4 shall be appropriately abated for the period from such date to the Building Expiration Date and Premises, then this Lease shall not terminate, and (b) Landlord shall repair and restore, at its own expense, perform the portion not taken so as work required to render same into an architectural whole be performed by Landlord pursuant to the fullest extent reasonably possible, and, if any portion Section 23.04 of the Premises was taken, thereafter the Base Rent shall be reduced (on this Lease. “Condemnation” means a per square foot basis) total or partial taking in proportion to the portion condemnation or by right of the Premises takeneminent domain.
Appears in 1 contract
Taking. If the whole all of the Premises is taken, either permanently or temporarily, are taken by eminent domain or condemnationEminent Domain, this Lease shall automatically terminate as of the date title vests in Tenant is required to vacate the condemning Premises and all Base Rent 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 Tenant shall pay all Base Rentany purchase or acquisition in lieu thereof, Additional Rent, and whether the damaging or taking is by government or any other payments up to the date on which Tenant loses the right of possession and use of all or substantially all of the Premisesperson. If a taking of any part of the Premises is permanently takenby Eminent Domain renders the remainder thereof unusable for the business of Tenant, or if access to in the Premises by Tenant isreasonable judgment of Landlord, by virtue this Lease, at the option of a takingeither party, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (to may be exercised terminated by written notice given to the other within sixty party not more than thirty (6030) days after receipt of Landlord gives Tenant written notice of said the taking) to terminate this Lease from , and such termination shall be effective as of the date when possession Tenant is taken thereunder pursuant required to such proceeding or purchasevacate the portion of the Premises so taken. If neither parry elects to terminate this LeaseLease is so terminated, as aforesaid, then Landlord all Base Rent and Additional Rent shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole be paid to the fullest extent reasonably possible, and, if date of termination. Whenever any portion of the Premises is takentaken by Eminent Domain and this Lease is not terminated, thereafter 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. The Base Rent and Additional Rent payable hereunder shall be reduced (on a per square foot basis) from the date Tenant is required to partially vacate the Premises in the same proportion that the rentable area taken bears to the portion total rentable area of the Premises taken. If there is a temporary taking involving the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access prior to the Building and Premises, then this Lease shall not terminate, and Landlord shall repair and restore, at its own expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises was taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises takentaking.
Appears in 1 contract
Taking. If the whole all of the Premises is taken, either permanently or temporarily, are taken by eminent domain or condemnationEminent Domain, this Lease shall automatically terminate as of the date title vests in Tenant is required to vacate the condemning 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 Tenant shall pay all Base Rentany purchase or acquisition in lieu thereof, Additional Rentwhether the damaging or taking is by government or any other person. If, and other payments up to in the date on which Tenant loses the right reasonable judgment of possession and use Landlord, a taking of all or substantially all of the Premises. If any part of the Premises is permanently taken, by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or if access to the cost of restoration of the Premises by Tenant isis not commercially reasonable), by virtue the Lease may, at the option of a takingeither party, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (to be exercised terminated by written notice given to the other within sixty party not more than thirty (6030) days after receipt of Landlord gives Tenant written notice of said the taking) to terminate this Lease from , and such termination shall be effective as of the date when possession Tenant is taken thereunder pursuant required to such proceeding or purchasevacate the portion of the Premises so taken. If neither parry elects to terminate this LeaseLease is so terminated, as aforesaid, then Landlord all Base and Additional Rent shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole be paid to the fullest extent reasonably possible, and, if date of termination. Whenever any portion of the Premises is takentaken by Eminent Domain and this Lease is not terminated, thereafter the Base Rent Landlord shall be reduced (on a per square foot basis) in proportion at its expense proceed with all reasonable dispatch to restore, to the portion extent of available proceeds and to the extent it is reasonably prudent to do so, the remainder of the Premises taken. If there is a temporary taking involving the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access to the Building and Premises, then this Lease shall not terminate, and Landlord shall repair and restore, at its own expense, the portion not taken so as condition they were in immediately prior to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises was taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises taken.such taking,
Appears in 1 contract
Samples: Eden Bioscience Corp
Taking. If the whole all of the Premises is taken, either permanently or temporarily, are taken by eminent domain or condemnationEminent Domain, this Lease shall automatically terminate as of the date title vests in Tenant is required to vacate the condemning 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 Tenant shall pay all Base Rentany purchase or acquisition in lieu thereof, Additional Rentwhether the damaging or taking is by government or any other person. If, and other payments up to in the date on which Tenant loses the right reasonable judgment of possession and use Landlord, a taking of all or substantially all of the Premises. If any part of the Premises is permanently taken, by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or if access to the cost of restoration of the Premises by Tenant isis not commercially reasonable), by virtue the Lease may, at the option of a takingeither party, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (to be exercised terminated by written notice given to the other within sixty party not more than thirty (6030) days after receipt of Landlord gives Tenant written notice of said the taking) to terminate this Lease from , and such termination shall be effective as of the date when possession Tenant is taken thereunder pursuant required to such proceeding or purchasevacate the portion of the Premises so taken. If neither parry elects to terminate this LeaseLease is so terminated, as aforesaid, then Landlord all Base and Additional Rent shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole be paid to the fullest extent reasonably possible, and, if date of termination. Whenever any portion of the Premises is takentaken by Eminent Domain and this Lease is not terminated, thereafter Landlord shall at its expense proceed with all reasonable dispatch to restore, to the extent of available proceeds, the remainder of the Premises to the condition they were in immediately prior to such taking, including the Landlord’s Work and Tenant’s Work described in the Work Letter, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements and alterations other than the Tenant’s Work 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 (on a per square foot basis) from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the portion total Rentable Area of the Premises taken. If there is a temporary taking involving the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access prior to the Building and Premises, then this Lease shall not terminate, and Landlord shall repair and restore, at its own expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises was taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises takentaking.
Appears in 1 contract
Samples: Letter Agreement (Blue Nile Inc)
Taking. If the whole all of the Premises is taken, either permanently or temporarily, are taken by eminent domain or condemnationEminent Domain, this Lease shall automatically terminate as of the date title vests in Tenant is required to vacate the condemning 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 Tenant shall pay all Base Rentany purchase or acquisition in lieu thereof, Additional Rentwhether the damaging or taking is by government or any other person. If, and other payments up to in the date on which Tenant loses the right reasonable judgment of possession and use Landlord, a taking of all or substantially all of the Premises. If any part of the Premises is permanently taken, by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or if access to the cost of restoration of the Premises by Tenant isis not commercially reasonable), by virtue the Lease may, at the option of a takingthe either party, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (to be exercised terminated by written notice given to the other within sixty party not more than thirty (6030) days after receipt of Landlord gives Tenant written notice of said the taking) to terminate this Lease from , and such termination shall be effective as of the date when possession Tenant is taken thereunder pursuant required to such proceeding or purchasevacate the portion of the Premises so taken. If neither parry elects to terminate this LeaseLease is so terminated, as aforesaid, then Landlord all Base Monthly Rent and Additional Rent shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole be paid to the fullest extent reasonably possible, and, if date of termination. Whenever any portion of the Premises is takentaken by Eminent Domain and this Lease is not terminated, thereafter 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 Monthly Rent and Additional Rent payable hereunder shall be reduced (on a per square foot basis) from the date Tenant is required to partially vacate the Premises in the same proportion that the rentable area taken bears to the portion total rentable area of the Premises taken. If there is a temporary taking involving the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access prior to the Building and Premises, then this Lease shall not terminate, and Landlord shall repair and restore, at its own expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises was taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises takentaking.
Appears in 1 contract
Samples: Lease (Source Energy Corp /Ut/)
Taking. If the whole all of the Premises is taken, either permanently or temporarily, are taken by eminent domain or condemnationEminent Domain, this Lease shall automatically terminate as of the date title vests in Tenant is required to vacate the condemning 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 Tenant shall pay all Base Rentany purchase or acquisition in lieu thereof, Additional Rent, and whether the damaging or taking is by government or any other payments up to the date on which Tenant loses the right of possession and use of all or substantially all of the Premisesperson. If a taking of any part of the Premises is permanently taken, by Eminent Domain renders the remainder thereof reasonably unusable for the business of Tenant (or if access to the cost of restoration of the Premises by Tenant isis not commercially reasonable), by virtue the Lease may, at the option of a takingeither party, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (to be exercised terminated by written notice given to the other within sixty party not more than thirty (6030) days after receipt of Landlord gives Tenant written notice of said the taking) to terminate this Lease from , and such termination shall be effective as of the date when possession Tenant is taken thereunder pursuant required to such proceeding or purchasevacate the portion of the Premises so taken. If neither parry elects to terminate this LeaseLease is so terminated, as aforesaid, then Landlord all Base Monthly Rent and Additional Rent shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole be paid to the fullest extent reasonably possible, and, if date of termination. Whenever any portion of the Premises is takentaken by Eminent Domain and this Lease is not terminated, thereafter 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. Notwithstanding the foregoing, if the Premises has been rendered unusable by Eminent Domain and Landlord elects for any reason not to restore the same to a reasonably usable condition, Tenant shall be entitled to terminate this Lease. The Base Monthly Rent and Additional Rent payable hereunder shall be reduced (on a per square foot basis) from the date Tenant is required to partially vacate the Premises in the same proportion that the rentable area taken bears to the portion total rentable area of the Premises taken. If there is a temporary taking involving the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access prior to the Building and Premises, then this Lease shall not terminate, and Landlord shall repair and restore, at its own expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises was taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises takentaking.
Appears in 1 contract
Taking. If the whole all of the Premises is taken, either permanently or temporarily, are taken by eminent domain or condemnationEminent Domain, this Lease shall automatically terminate as of the date title vests in Tenant is required to vacate the condemning 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 Tenant shall pay all Base Rentany purchase or acquisition in lieu thereof, Additional Rentwhether the damaging or taking is by government or any other person. If, and other payments up to in the date on which Tenant loses the right reasonable judgment of possession and use Landlord, a taking of all or substantially all of the Premises. If any part of the Premises is permanently taken, by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or if access to the cost of restoration of the Premises by Tenant isis not commercially reasonable), by virtue the Lease may, at the option of a takingeither party, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (to be exercised terminated by written notice given to the other within sixty party not more than thirty (6030) days after receipt of Landlord gives Tenant written notice of said the taking) to terminate this Lease from , and such termination shall be effective as of the date when possession Tenant is taken thereunder pursuant required to such proceeding or purchasevacate the portion of the Premises so taken. If neither parry elects to terminate this LeaseLease is so terminated, as aforesaid, then Landlord all Base and Additional Rent shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole be paid to the fullest extent reasonably possible, and, if date of termination. Whenever any portion of the Premises is takentaken by Eminent Domain and this Lease is not terminated, thereafter Landlord shall at its expense proceed with all reasonable dispatch to restore, to the extent of available proceeds issued from the taking governmental authority 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 (on a per square foot basis) from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the portion total Rentable Area of the Premises taken. If there is a temporary taking involving the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access prior to the Building and Premises, then this Lease shall not terminate, and Landlord shall repair and restore, at its own expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises was taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises takentaking.
Appears in 1 contract
Taking. If the whole all of the Premises is taken, either permanently or temporarily, are taken by eminent domain or condemnationEminent Domain, this Lease shall automatically terminate as of the date title vests in Tenant is required to vacate the condemning Premises and all Base Rent 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 Tenant shall pay all Base Rentany purchase or acquisition in lieu thereof, Additional Rent, and whether the damaging or taking is by government or any other payments up to the date on which Tenant loses the right of possession and use of all or substantially all of the Premisesperson. If a taking of any part of the Premises is permanently takenby Eminent Domain renders the remainder thereof unusable for the business of Tenant, or if access to in the Premises by Tenant isreasonable judgment of Landlord, by virtue this Lease, at the option of a takingeither party, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (to may be exercised terminated by written notice given to the other within sixty party not more than thirty (6030) days after receipt of Landlord gives Tenant written notice of said the taking) to terminate this Lease from , and such termination shall be effective as of the date when possession Tenant is taken thereunder pursuant required to such proceeding or purchasevacate the portion of the Premises so taken. If neither parry elects to terminate this LeaseLease is so terminated, as aforesaid, then Landlord all Base Rent and Additional Rent shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole be paid to the fullest extent reasonably possible, and, if date of termination. Whenever any portion of the Premises is takentaken by Eminent Domain and this Lease is not terminated, thereafter 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 Rent and Additional Rent payable hereunder shall be reduced (on a per square foot basis) from the date Tenant is required to partially vacate the Premises in the same proportion that the rentable area taken bears to the portion total rentable area of the Premises taken. If there is a temporary taking involving the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access prior to the Building and Premises, then this Lease shall not terminate, and Landlord shall repair and restore, at its own expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises was taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises takentaking.
Appears in 1 contract
Samples: Lease (Photoworks Inc /Wa)
Taking. If the whole a material portion of the Premises is taken, either permanently or temporarily, by eminent domain or condemnationcondemnation and as a result of such taking the Tenant can no longer reasonably use the Premises for its intended purpose, this Lease shall automatically terminate as of the date title vests in the condemning authority, and Tenant shall pay all Base Rent, Additional Rent, and other payments up to the date on which Tenant loses the right of possession and use of all or substantially all of the Premisesthat date. If any part of the Premises is permanently taken, or if access to the Premises by Tenant is, by virtue of a taking, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (to be exercised by written notice to the other within sixty (60) days after receipt of notice of said taking) to terminate this Lease from the date when possession is taken thereunder pursuant to such proceeding or purchase. If neither parry party elects to terminate this Lease, as aforesaid, then Landlord shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises is taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises taken. If there is a temporary taking involving the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access to the Building and Premises, then this Lease shall not terminate, and Landlord shall repair and restore, at its own expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises was taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises taken.
Appears in 1 contract
Taking. If the whole there is a taking by condemnation or similar proceedings or actions of the Premises is taken, either permanently or temporarily, by eminent domain or condemnation, this Lease shall automatically terminate as of the date title vests in the condemning authority, and Tenant shall pay all Base Rent, Additional Rent, and other payments up to the date on which Tenant loses the right of possession and use of all or substantially all of the Premises. If any part of the Premises is permanently taken, or if access to the Premises by Tenant is, by virtue of only a taking, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (to be exercised by written notice to the other within sixty (60) days after receipt of notice of said taking) to terminate this Lease from the date when possession is taken thereunder pursuant to such proceeding or purchase. If neither parry elects to terminate this Lease, as aforesaid, then Landlord shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises Owned Real Property which is taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion not material to the portion use of the Premises takenremainder of the Owned Real Property (as mutually determined by Seller and Buyer in their reasonable discretion), this Agreement will remain in full force and effect, and Seller must pay or assign to Buyer at Closing Seller’s interest in and to any condemnation awards or proceeds from any such proceedings or actions in lieu thereof to the extent such awards or proceeds relate to the Owned Real Property. If there is a temporary taking involving the Premises by condemnation or Building, if a taking similar proceedings or actions of other portions all of the Building Property or Common Areas a portion of the Owned Real Property which is material to the use of the remainder of the Owned Real Property (as mutually determined by Seller and Buyer in their reasonable discretion or in any event if more than thirty percent (30%) of the square footage of the Owned Real Property), Buyer will have the option to terminate this Agreement upon written notice to Seller within 10 days of such condemnation, but in no event later than the Closing Date, in which event neither Buyer nor Seller will have any further rights or obligations hereunder except for obligations of the parties contained herein that survive the Closing pursuant to Section 8.01. If Buyer does not deny Tenant access exercise its option to the Building and Premisesterminate this Agreement, then this Lease shall not terminate, Agreement will remain in full force and Landlord shall repair effect and restore, Seller must pay or assign to Buyer at its own expense, the portion not taken so as Closing Seller's interest in and to render same into an architectural whole any and all condemnation awards or proceeds from such proceedings or actions in lieu thereof or to the fullest extent reasonably possible, and, if any portion of the Premises was taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion such awards or proceeds relate to the portion of the Premises takenOwned Real Property.
Appears in 1 contract
Samples: Asset Purchase Agreement (Bassett Furniture Industries Inc)
Taking. If the whole of the Premises is taken, either permanently or temporarily, by eminent domain or condemnation, this Lease shall automatically terminate as of the date title vests in the condemning authority, and Tenant shall pay all Base Rent, Additional Rent, and other payments up to the date on which Tenant loses the right of possession and use of all or substantially all of the Premisesthat date. If any part of the Premises is permanently taken, or if access to the Premises by Tenant is, by virtue of a taking, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (to be exercised by written notice to the other Tenant within sixty (60) days after receipt of notice of said taking) to terminate this Lease from the date when possession is taken thereunder pursuant to such proceeding or purchase. If neither parry elects In the event fifteen percent (15%) or more of the rentable area of the Premises is taken, then Tenant shall have the right, exercisable upon written notice to Landlord within thirty (30) days after the date that the area so taken vests with the condemning authority, to terminate this Lease. Despite the foregoing, in the event Tenant so delivers a termination notice to Landlord, and Landlord, in its sole discretion, elects to lease other comparable space in the Building that is located on a floor that is adjacent to the floor upon which the Premises is located to Tenant to replace a portion of the area so taken, such that the rentable area of the remaining portion of the Premises which was not taken, when aggregated with the additional space that Landlord elects to lease to Tenant in the Building, equals at least eighty five percent (85%) of the rentable area of the Premises that existed prior to the taking, then Tenant’s notice of termination shall be deemed automatically rescinded. If this Lease is not terminated, as aforesaid, then Landlord shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises is taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises taken. If there is a temporary taking involving the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access to the Building and Premises, then this Lease shall not terminate, and Landlord shall repair and restore, at its own expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises was taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises taken.
Appears in 1 contract
Taking. If the whole all of the Premises is taken, either permanently or temporarily, are taken by eminent domain or condemnationEminent Domain, this Lease shall automatically terminate as of the date title vests in Lessee is required to vacate the condemning Premises and all Rent and Additional Charges 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 Tenant shall pay all Base Rentany purchase or acquisition in lieu thereof, Additional Rent, and whether the damaging or taking is by government or any other payments up to the date on which Tenant loses the right of possession and use of all or substantially all of the Premisesperson. If a taking of any part of the Premises is permanently taken, Building or if access to the Premises by Tenant isEminent Domain renders the remainder of the Premises unusable for the Permitted Use of Lessee, by virtue the Lease may, at the option of a takingeither party, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (to be exercised terminated by written notice given to the other within sixty party not more than thirty (6030) days after receipt of City gives Lessee written notice of said the taking) to terminate this Lease from , and such termination shall be effective as of the date when possession Lessee is taken thereunder pursuant required to such proceeding or purchasevacate the portion of the Premises so taken. If neither parry elects to terminate this LeaseLease is so terminated, as aforesaid, then Landlord all Rent and Additional Charges shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole be paid to the fullest extent reasonably possible, and, if date of the taking. Whenever any portion of the Premises is takentaken by Eminent Domain and this Lease is not terminated, thereafter City, at its expense, shall proceed with all reasonable dispatch to restore, to the Base 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 Lessee, at its expense, shall 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, to the extent award is available therefor. The Rent and Additional Charges payable hereunder shall be reduced (on a per square foot basis) from the date Lessee is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the portion total Rentable Area of the Premises taken. If there is a temporary taking involving the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access prior to the Building and Premises, then this Lease shall not terminate, and Landlord shall repair and restore, at its own expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises was taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises takentaking.
Appears in 1 contract
Samples: Seattle Waldorf School
Taking. If any material portion of the whole Project shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or sold to prevent such taking to such an extent as to render untenantable the entirety of the Premises or such a material portion of the Premises that Tenant's operation from the remainder of the Premises is takennot reasonably practicable as reasonably determined by the parties, either permanently or temporarily, by eminent domain or condemnation, party shall have the right to terminate this Lease shall automatically terminate effective as of the date title vests in the condemning authority, and Tenant shall pay all Base Rent, Additional Rent, and other payments up to the date on which Tenant loses the right of possession and use of all or substantially all of the Premises. If any part of the Premises is permanently taken, or if access to the Premises by Tenant is, by virtue of a taking, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (required to be exercised surrendered to said authority by written notice to the other within sixty (60) days after receipt party by the effective date of notice such taking. Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of said such taking) to terminate this Lease from the date when possession is taken thereunder pursuant to such proceeding or purchase. If neither parry elects to terminate this Lease, as aforesaid, then Landlord shall within other than a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole claim for any separate award attributable to the fullest extent reasonably possible, and, if value of any portion personal property or trade fixtures of the Premises is Tenant which are taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion costs of Tenant's relocation, and Tenant hereby assigns to the portion Landlord all of the Premises taken. If there is a temporary taking involving the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access to the Building and Premises, then this Lease shall not terminateTenant's interest in, and Landlord shall repair and restore, at its own expensebe entitled to receive, the portion not taken so as to render same into an architectural whole entire amount of any other award without deduction for any estate or interest of Tenant (including, without limitation, any award attributable to the fullest value of the remaining Lease Term of this Lease). If neither Tenant nor Landlord so elects to terminate, Landlord shall, to the extent reasonably possibleof proceeds received, andcommence to restore the Premises to substantially their same condition prior to such partial taking, if any portion and a proportionate allowance shall be made to Tenant for the Monthly Base Rent and Tenant's obligation for payment of Tenant's Expenses Excess corresponding to the time during which, and to the part of the Premises was takenof which, thereafter the Base Rent Tenant shall be reduced (so deprived on a per square foot basis) account of such taking and restoration. Nothing contained in proportion this Section 12.1 shall be deemed to give Landlord any interest in any award made to Tenant for the portion taking of the Premises takenTenant's personal property and trade fixtures or for Tenant's costs of relocation.
Appears in 1 contract
Taking. If the whole all of the Premises is taken, either permanently or temporarily, are taken by eminent domain or condemnationEminent Domain, this Lease shall automatically terminate as of the date title vests in Lessee is required to vacate the condemning Premises and all Rent and Additional Charges 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 Tenant shall pay all Base Rentany purchase or acquisition in lieu thereof, Additional Rent, and whether the damaging or taking is by government or any other payments up to the date on which Tenant loses the right of possession and use of all or substantially all of the Premisesperson. If a taking of any part of the Premises is permanently takenby Eminent Domain renders the remainder thereof unusable for the business of Lessee, or if access to in the Premises by Tenant isreasonable judgment of City, by virtue the Lease may, at the option of a takingeither party, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (to be exercised terminated by written notice given to the other within sixty party not more than thirty (6030) days after receipt of City gives Lessee written notice of said the taking) to terminate this Lease from , and such termination shall be effective as of the date when possession Lessee is taken thereunder pursuant required to such proceeding or purchasevacate the portion of the Premises so taken. If neither parry elects to terminate this LeaseLease is so terminated, as aforesaid, then Landlord all Rent and Additional Charges shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole be paid to the fullest extent reasonably possible, and, if date of termination. Whenever any portion of the Premises is takentaken by Eminent Domain and this Lease is not terminated, thereafter City, at its expense, shall proceed with all reasonable dispatch to restore, to the Base 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 Lessee, at its expense, shall 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, to the extent award is available therefor. The Rent and Additional Charges payable hereunder shall be reduced (on a per square foot basis) from the date Lessee is required to partially vacate the Premises in the same proportion that the Lease area taken bears to the portion total Lease Area of the Premises taken. If there is a temporary taking involving the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access prior to the Building and Premises, then this Lease shall not terminate, and Landlord shall repair and restore, at its own expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises was taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises takentaking.
Appears in 1 contract
Samples: Example Use Agreement
Taking. If the whole all of the Premises is taken, either permanently or temporarily, are taken by eminent domain or condemnationEminent Domain, this Lease shall automatically terminate as of the date title vests in Tenant is required to vacate the condemning Premises and all Minimum 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 Tenant shall pay all Base Rentany purchase or acquisition in lieu thereof, Additional Rentwhether the damaging or taking is by government or any other person. If, and other payments up to in the date on which Tenant loses the right reasonable judgment of possession and use Landlord, a taking of all or substantially all of the Premises. If any part of the Premises is permanently taken, by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or if access to the cost of restoration of the Premises by Tenant isis not commercially reasonable), by virtue the Lease may, at the option of a takingeither party, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (to be exercised terminated by written notice given to the other within sixty party not more than thirty (6030) days after receipt of Landlord gives Tenant written notice of said the taking) to terminate this Lease from , and such termination shall be effective as of the date when possession Tenant is taken thereunder pursuant required to such proceeding or purchasevacate the portion of the Premises so taken. If neither parry elects to terminate this LeaseLease is so terminated, as aforesaid, then Landlord all Minimum and Additional Rent shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole be paid to the fullest extent reasonably possible, and, if date of termination. Whenever any portion of the Premises is takentaken by Eminent Domain and this Lease is not terminated, thereafter Landlord shall at its expense proceed with all reasonable dispatch to restore, to the Base 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 Minimum and Additional Rent payable hereunder shall be reduced (on a per square foot basis) from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the portion total Rentable Area of the Premises taken. If there is a temporary taking involving the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access prior to the Building and Premises, then this Lease shall not terminate, and Landlord shall repair and restore, at its own expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises was taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises takentaking.
Appears in 1 contract
Samples: Sonosight Inc
Taking. If the whole all of the Premises is taken, either permanently or temporarily, are taken by eminent domain or condemnationEminent Domain, this Lease shall automatically terminate as of the date title vests in Tenant is required to vacate the condemning 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 Tenant shall pay all Base Rentany purchase or acquisition in lieu thereof, Additional Rentwhether the damaging or taking is by government or any other person. If, and other payments up to in the date on which Tenant loses the right reasonable judgment of possession and use Xxxxxxxx, a taking of all or substantially all of the Premises. If any part of the Premises is permanently takenby Eminent Domain, or if access to a taking of part or all of the parking for the Project, renders the Premises by or any remainder thereof unusable for the business of Tenant is(or the cost of restoration of the Premises or the parking is not commercially reasonable), by virtue the Lease may, at the option of a takingeither party, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (to be exercised terminated by written notice given to the other within sixty party not more than thirty (6030) days after receipt of Landlord gives Tenant written notice of said the taking) to terminate this Lease from , and such termination shall be effective as of the date when possession Tenant is taken thereunder pursuant required to such proceeding or purchasevacate the portion of the Premises so taken. If neither parry elects to terminate this LeaseLease is so terminated, as aforesaid, then Landlord all Base and Additional Rent shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole be paid to the fullest extent reasonably possible, and, if date of termination. Whenever any portion of the Premises is takentaken by Eminent Domain and this Lease is not terminated, thereafter 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 (on a per square foot basis) from the date Tenant is required to partially Vacate the Premises in the same proportion that the Rentable Square Footage taken bears to the portion total Rentable Square Footage of the Premises taken. If there is a temporary taking involving the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access prior to the Building and Premises, then this Lease shall not terminate, and Landlord shall repair and restore, at its own expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises was taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises takentaking.
Appears in 1 contract
Samples: Lease (Tripath Imaging Inc)
Taking. If the whole all of the Premises is taken, either permanently or temporarily, are taken by eminent domain or condemnationEminent Domain, this Lease shall automatically terminate as of the date title vests in Tenant is required to vacate the condemning authority, Premises and Tenant shall pay all Base Rent, Additional Rent, and Percentage Rent (if applicable) 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 payments up person who under applicable law has the power to exercise the date on which Tenant loses power of condemnation or eminent domain. If, in the right reasonable judgment of possession and use Landlord, a taking of all or substantially all of the Premises. If any part of the Premises is permanently takenby Eminent Domain renders the remainder thereof unusable for the business of Tenant this Lease, or if access to at the Premises by Tenant isoption of either party, by virtue of a taking, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (to may be exercised terminated by written notice given to the other within sixty party not more than thirty (6030) days after receipt of Landlord gives Tenant written notice of said the taking) to terminate this Lease from , and such termination shall be effective as of the date when possession Tenant is taken thereunder pursuant required to such proceeding or purchasevacate the portion of the Premises so taken. If neither parry elects to terminate this LeaseLease is so terminated, as aforesaidall Base Rent, then Landlord Additional Rent, and Percentage Rent (if applicable) shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole be paid to the fullest extent reasonably possible, and, if date of termination. Whenever any portion of the Premises is takentaken by Eminent Domain and this Lease is not terminated, thereafter 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 Rent payable hereunder shall be equitably reduced based on (on a per i) the square foot basisfootage of the Premises so taken compared to the square footage of the entire Premises, and (ii) in proportion to the relative gross revenue from operations generated at such time by the portion of the Premises takentaken compared to the gross revenue from operations generated at such time by the remainder of the Premises. If there this Lease is a temporary taking involving terminated pursuant to this Subsection 8.2(a), Landlord shall pay Tenant the Lease Termination Fee provided that Tenant has delivered to Landlord any Casino Personal Property and Casino Personal Property Additions that are not taken and all condemnation proceeds relating to the taken Casino Personal Property, the taken Casino Personal Property Additions, any Alterations to the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access and any and all damages relating to the Building Casino Business and PremisesTenant’s leasehold interest under this Lease. Tenant shall deliver such items to Landlord free and clear of liens, then this Lease shall not terminateencumbrances, and defects of title, except any such matters arising through Prime Landlord shall repair for the benefit of its Mortgagee and restore, at its own expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises was taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises takenexcept for Casino Personal Property Additions Capital Leases then outstanding.
Appears in 1 contract
Taking. If the whole all of the Premises is taken, either permanently or temporarily, are taken by eminent domain or condemnationEminent Domain, this Lease shall automatically terminate as of the date title vests in Tenant is required to vacate the condemning 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 Tenant shall pay all Base Rentany purchase or acquisition in lieu thereof, Additional Rentwhether the damaging or taking is by government or any other person. If, and other payments up to in the date on which Tenant loses the right reasonable judgment of possession and use Landlord, a taking of all or substantially all of the Premises. If any part of the Premises is permanently taken, by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or if access to the cost of restoration of the Premises by Tenant isis not commercially reasonable), by virtue the Lease may, at the option of a takingeither party, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (to be exercised terminated by written notice given to the other within sixty party not more than thirty (6030) days after receipt of Landlord gives Tenant written notice of said the taking) to terminate this Lease from , and such termination shall be effective as of the date when possession Tenant is taken thereunder pursuant required to such proceeding or purchasevacate the portion of the Premises so taken. If neither parry elects to terminate this LeaseLease is so terminated, as aforesaid, then Landlord all Base and Additional Rent shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole be paid to the fullest extent reasonably possible, and, if date of termination. Whenever any portion of the Premises is takentaken by Eminent Domain and this Lease is not terminated, thereafter Landlord shall at its expense proceed with all reasonable dispatch to restore, to the extent of available proceeds, the remainder of the Premises to the condition they were in immediately prior to such taking, including the Landlord's Work and Xxxxxx's Work described in the Work Letter, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements and alterations other than the Tenant's Work 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 (on a per square foot basis) from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the portion total Rentable Area of the Premises taken. If there is a temporary taking involving the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access prior to the Building and Premises, then this Lease shall not terminate, and Landlord shall repair and restore, at its own expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises was taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises takentaking.
Appears in 1 contract
Taking. If the whole Premises or any portion thereof shall be condemned or taken by any public authority or by any other person or entity with the power of the Premises is taken, either permanently or temporarilycondemnation, by eminent domain or condemnationby purchase in lieu thereof, and such condemnation or taking renders the Premises unsuitable for Tenant's business operation therein, then Tenant may terminate this Lease shall automatically terminate by giving notice thereof to Landlord, such termination being effective as of the date title vests specified in such notice. If Tenant so terminates this Lease, Minimum Annual Rent and Additional Rent shall be paid to the condemning authorityeffective date of such termination, and Tenant shall pay all Base be entitled to an appropriate refund of any Minimum Annual Rent and Additional Rent and any other amounts paid by Tenant hereunder for any period after the effective date of termination. If this Lease is not so terminated, this Lease and the Term thereof shall continue, except that if Tenant is deprived of the use of any portion of the Premises or any rights under this Lease as a result of such condemnation or taking, Minimum Annual Rent, Additional Rent, Rent and any other payments up amounts payable by Tenant hereunder shall be abated or reduced according to the date on extent to which Tenant loses the right of possession and use of all or substantially all is deprived of the Premises. If any part use or benefit of the Premises or any rights under this Lease. Whether or not this Lease is permanently takenterminated by Tenant as a result of any condemnation or taking, all damages awarded as a result of the condemnation or if access taking for the value of Tenant's leasehold interest, for the cost of any leasehold improvements paid for by Tenant and for the cost of Tenant's equipment, machinery, furniture, fixtures and other personal property shall belong to Tenant. All other damages awarded shall belong to the Premises by Tenant isLandlord. In addition, by virtue of a taking, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (to be exercised by written notice to claim, prove, collect and retain any other damages awarded and any other damages compensable under the other within sixty (60) days after receipt of notice of said taking) to terminate this Lease from the date when possession is taken thereunder pursuant to such proceeding or purchase. If neither parry elects to terminate this Lease, as aforesaid, then Landlord shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion applicable laws of the Premises is taken, thereafter the Base Rent shall be reduced (on a per square foot basis) jurisdiction in proportion to the portion of which the Premises taken. If there is are located as a temporary taking involving the Premises result of such condemnation or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access to the Building and Premises, then this Lease shall not terminate, and Landlord shall repair and restore, at its own expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises was taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises takentaking.
Appears in 1 contract
Samples: Dura Products International Inc
Taking. If the whole all of the Premises is taken, either permanently or temporarily, arc taken by eminent domain or condemnationdomain, this Lease shall automatically terminate as of the date title vests in Tenant is required to vacate the condemning Premises and all rentals 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 Tenant shall pay all Base Rentany purchase or acquisition in lieu thereof, Additional Rent, and whether the damaging or taking is by government or any other payments up to the date on which Tenant loses the right of possession and use of all or substantially all of the Premisesperson. If a taking of any part of the Premises is permanently taken, or if access to the Premises by Tenant is, by virtue of a taking, permanently denied, by eminent domain renders the remainder thereof unusable for the business of Tenant, in the reasonable judgment of Landlord, this Lease, at the option of either party, may 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 stall be effective as of the date when Tenant is required to vacate the portion of the Premises so taken. If the whole or condemnationany material part of the Building shall be taken by eminent domain, then Landlord or Tenant shall have the right (to be exercised Landlord, at its option, may terminate this Lease by written notice to the other within sixty (60) days after receipt of notice of said taking) to terminate Tenant. If this Lease from is so terminated, all rent shall be paid to the date when possession is taken thereunder pursuant to such proceeding or purchaseof termination. If neither parry elects to terminate this Lease, as aforesaid, then Landlord shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if Whenever any portion of the Premises is takentaken by eminent domain and this Lease is not terminated, thereafter Landlord shall at its expense proceed with all reasonable dispatch to restore, to the Base Rent extent of available condemnation or insurance 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 rent payable hereunder shall be reduced (on a per square foot basis) from the date Tenant is required to partially vacate the Premises in the same proportion that the rentable area taken bears to the portion total rentable area of the Premises taken. If there is a temporary taking involving the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access prior to the Building and Premises, then this Lease shall not terminate, and Landlord shall repair and restore, at its own expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises was taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to the portion of the Premises takentaking.
Appears in 1 contract