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Common use of Taking Clause in Contracts

Taking. In case the whole of the Premises, or such part thereof as shall substantially interfere with Tenant's use and occupancy thereof, shall be taken by any 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 effective as of the date possession is required to be surrendered to said authority. If such portion of the Building 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 economically unviable for its use as presently intended, 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 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 be so deprived on account of such taking and restoration. 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 fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 3 contracts

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

Taking. In case the whole of the Premises, or such part thereof or of the Building Property as shall substantially interfere with Tenant's ’s use and occupancy thereof, shall be taken by any lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within sixty ninety (6090) days of after receipt of notice of such taking, either Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority. If such portion of the Building Property is so 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 unviable 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 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 Tenant shall have no claim against Landlord for the event 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 ’s use of the PremisesPremises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant. In 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 Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall 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 services and utilities provided to 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 fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking 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. In case the whole If all of the PremisesPremises 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 such part thereof as shall substantially interfere with Tenant's use damaging of property by, through or under any governmental or statutory authority, and occupancy 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 taken by any 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 effective as of the date possession when Tenant is required to be surrendered to said authority. If such vacate the portion of the Building Premises so taken. If this Lease is so taken or sold so as terminated, all Base and Additional Rent shall be paid 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 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 termination. Whenever any portion of the date on which said vesting will occur. Except as provided hereinPremises is taken by Eminent Domain and this Lease is not terminated, Tenant Landlord shall not because at its expense proceed with all reasonable dispatch to restore, to the extent of such taking assert any claim against Landlord or available proceeds and to the taking authority for any compensation because 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 Tenant 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 at its expense proceed 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 all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to substantially their the same condition they were in immediately prior to such partial taking, . The Base and the rent Additional Rent payable hereunder shall be abated reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the time during which, and to the part total Rentable Area of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Nothing contained in this Article 13 shall be deemed prior 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 authoritytaking.

Appears in 3 contracts

Samples: Lease Agreement (Helix Biomedix Inc), Lease Agreement (Auteo Media Inc), Lease Agreement (Helix Biomedix Inc)

Taking. (a) In case the whole of event that the PremisesParking Facility, or such any part thereof as shall substantially interfere with Tenant's use and occupancy thereof, or access thereto, shall be taken by any lawful power in condemnation proceedings or authority by exercise of the any right of eminent domain, domain or sold by agreement (such as deed in lieu of an eminent domain action) between Landlord and those authorized to prevent exercise such right (any such matters being hereinafter referred to as a “taking, within sixty (60) days of receipt of notice of such taking, either Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority. If such portion of the Building 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 economically unviable for its use as presently intended, 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 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 be so deprived on account deemed to have assigned to Landlord, immediately before the taking, Tenant’s rights, if any, to participate in any such condemnation proceedings. (b) If at any time during the Term of this Lease there shall be a taking of the whole or substantially all of the Parking Facility, this Lease shall terminate and expire immediately before the taking and the Rent shall be apportioned and paid to the date of such taking and restorationtaking. Nothing contained in For the purposes of this Article 13 “substantially all of the Parking Facility” shall be deemed to give have been taken if as a result of the taking, Tenant is unable to use for its intended purpose, in a commercially reasonable manner, any portion of the Parking Facility that Tenant has a right to use under this Lease. (c) If this Lease shall continue after any such taking, this Lease shall remain unaffected except that the Basic Rent shall be reduced proportionately in accordance with the number of Leased Spaces taken or which Tenant does not have use of in accordance with this Lease. If the Parking Facility is only partially usable after any such taking, then the Landlord any interest inshall have the authority to reallocate parking spaces throughout the Facility, or prevent Tenant from seeking any award against and to determine which parking spaces in the taking authority for, the taking of personal property and fixtures belonging to Tenant or Facility will be available for relocation or business interruption expenses recoverable from the taking authoritythose purposes.

Appears in 2 contracts

Samples: Parking Lease Agreement, Parking Lease Agreement

Taking. In case 7.2.1 If a Taking shall occur during the Operating Term, as to the whole of the PremisesHotel, or such part thereof as shall substantially interfere with Tenantin Manager's reasonable opinion that makes it imprudent or unsuitable to use and occupancy thereof, shall be taken by any lawful power or authority by exercise operate the remaining portion of the right of eminent domainHotel in accordance with the Operating Standard, then either Owner or sold to prevent such taking, within sixty (60) days of receipt of notice of such taking, either Tenant or Landlord Manager may terminate this Lease effective as Contract upon ninety (90) days' notice to the other Party. If the Taking affects only a part of the date possession Hotel or the real property on which it is required erected and if the Taking of such part does not make it unsuitable or imprudent, in Manager's reasonable opinion, to be surrendered operate the remainder in accordance with the Operating Standard, this Contract shall not terminate, and Owner shall, subject to said authority. If such portion the applicable provisions of the Building is so taken Credit Agreement and any Succeeding Financing, undertake such alterations or sold so modifications to the Hotel, or any part thereof, as shall be reasonably necessary and practicable to require, in make the opinion of Landlord, Hotel a substantial alteration or reconstruction satisfactory architectural unit as a hotel of the remaining portions thereof, or which renders the Building economically unviable for its use as presently intended, this Lease may be terminated by Landlord, as of the date of the vesting of title under type and class immediately preceding such taking or salecondemnation. 7.2.2 Manager shall have the right in the case of a Taking either to institute or to intervene in any available administrative proceeding or judicial action intended to determine just compensation for such Taking, for the purpose of representing Manager's compensable interest in any award therefor arising from this Contract and more specifically from Manager's right of quiet enjoyment. Any award made to Owner that does not recognize the separate compensable interest of Manager shall be apportioned between the Parties in consideration, without limitation, of such factors as: (i) recoupment by written notice Owner of its investment, (ii) return on Owner's investment to Tenant date, (iii) actual loss of income (including Manager's fee income hereunder), (iv) loss of reasonably anticipated future income (including Manager's fee income hereunder), (v) length of the unexpired term (including any renewals) of this Contract, and/or (vi) the proportion that the Management Fee has historically borne to the return to Owner after payment of such fee. If the Parties cannot agree upon such apportionment within sixty ninety (6090) days following notice to Landlord of after 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 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 payable to Owner has been determined by settlement or a final judicial determination, either Party may submit the dispute for any estate or interest of Tenant. In such event, Landlord shall promptly proceed resolution pursuant 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 be so deprived on account of such taking and restoration. 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 fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority10.

Appears in 2 contracts

Samples: Management Contract (Bh Re LLC), Management Contract (Bh Re LLC)

Taking. In case the whole of the Premises, or such part thereof as shall substantially interfere with Tenant's ’s use and occupancy thereof, shall be taken by any lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within sixty (60) 60 days of after receipt of notice of such taking, either Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority. If such portion of the Building or Property 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 Property economically unviable 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 sixty (60) 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 If the amount of property or the type of estate taken shall not substantially interfere with Tenant's ’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 and the Building to substantially their condition prior to such partial taking, and the rent Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall 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 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 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 such that the remaining portion of the Premises cannot be used for its intended purposes, as reasonably determined by Tenant; (ii) access to the Building is taken; (iii) vehicular access to the 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 Building).

Appears in 2 contracts

Samples: Loan Agreement (Thomas Properties Group Inc), Office Lease (Lincoln National Corp)

Taking. In case the whole of the Premises, or such part thereof as shall substantially interfere with Tenant's ’s use and occupancy of the entirety thereof, shall be taken by any lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within sixty (60) days of receipt after delivery of notice of such taking, either Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority. If such portion of the Building or Project is so 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 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 any Landlord’s Mortgagee 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 Tenantmade to Landlord. In the event the amount of property or the type of estate taken shall this Lease is not substantially interfere with Tenant's use of the Premisesterminated pursuant to this Section 14.1, 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 Building to substantially their condition prior to such partial taking, and the rent Base Rent and Tenant’s Pro Rata Share of Operating Expenses shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so is actually 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 for all services and utilities provided to and used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 Section shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any a separate award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or Tenant, for relocation or business interruption expenses recoverable from the taking authority, loss of business or goodwill, for the taking of Tenant’s trade fixtures, the Tenant Improvements, Tenant’s leasehold estate, the cost of relocating 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. (a) In case the whole of the Premises, or such part thereof as shall substantially interfere with Tenant's use and occupancy thereofof the remainder of the Premises not so taken, shall be taken by any 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 effective as of the date possession is required to 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. In such eventSubject to Section 13.2, in the event of a taking of a ------------ portion of the Premises which does not result in the termination of this Lease, Landlord shall promptly proceed to restore the Premises substantially to substantially their condition prior to such partial taking, and the rent Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restorationrestoration (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 ------------ this Section 13.1, the 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 as the Premises were in immediately prior to such casualty, 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 continue to be obligated to pay Landlord Additional Rent (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 deemed to give Landlord any interest in, or prevent ---------- Tenant from seeking any award against the taking authority for, the taking of personal property property, tenant improvements and fixtures Tenant Alterations and FF&E belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority. (b) If this Lease is terminated as to all or any portion of the Premises pursuant to this Section 13.1, the award (including but not limited ------------ to compensation, damages and interest) shall be divided between Landlord and Tenant so that Tenant shall receive from the award:

Appears in 1 contract

Samples: Lease (Global Crossing LTD)

Taking. In case the whole of the Premises, or such part thereof as shall substantially interfere with Tenant's ’s use and occupancy thereof, shall be taken by any lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within sixty (60) days of after receipt of notice of such taking, either Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority. If such portion of the Building or 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 Project economically unviable 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 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 If the amount of property or the type of estate taken shall not substantially interfere with Tenant's ’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 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 services and utilities provided to 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 fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 1 contract

Samples: Office Lease (Genius Products Inc)

Taking. In case the whole of the Premises, or such part thereof as shall substantially interfere with Tenant's ’s use and occupancy thereof, shall be taken by any lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within sixty (60) days of after receipt of notice of such taking, either Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority. If such portion of the Building or 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 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 If the amount of property or the type of estate taken shall not substantially interfere with Tenant's ’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 be so deprived on account of such taking and restoration. Nothing contained in this Article 13 12 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.

Appears in 1 contract

Samples: Loan Agreement (MPG Office Trust, Inc.)

Taking. In case the whole (a) Tenant’s Rights. If any part of the Premises, or such part thereof as shall substantially interfere with Tenant's use and occupancy thereof, shall be Project (including parking) is taken by any lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within sixty domain for a period exceeding ninety (6090) days of receipt of notice of or conveyed in lieu thereof (a “Taking”), and such takingTaking prevents Tenant from conducting its business from the Premises in a manner reasonably comparable to that conducted immediately before such Taking, either then Tenant or Landlord may terminate this Lease effective by giving written notice to Landlord within thirty (30) days after such Taking. Upon the occurrence of a Taking, Rent shall be abated on a proportionate basis as to that portion of the date possession Premises rendered untenantable by the Taking from the first day of the Taking until such termination. If Tenant does not terminate this Lease, then Rent shall be abated on a proportionate basis as to that portion of the Premises rendered untenantable by the Taking. If a portion of the Premises or Building are subject to a Taking and such Taking does not prevent Tenant from conducting its business in a manner reasonably comparable to that conducted immediately before such Taking, the Lease shall remain in full force and effect and Rent shall be adjusted on a proportionate basis from the first day of the Taking. (b) Taking - Landlord’s Rights. If any material portion, but less than all, of the Project or related parking becomes subject to a Taking, or if Landlord is required to be surrendered to said authority. If such portion pay any of the Building is so taken proceeds received for a Taking to Landlord’s Mortgagee, then this Lease, at the option of Landlord or sold so as to requireTenant, 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 may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, exercised by written notice to Tenant the other party within sixty thirty (6030) days following notice to Landlord after such Taking, shall terminate and Rent shall be adjusted on a proportionate basis from the first day of the date on which said vesting will occurTaking until such termination. Except as provided hereinIf a partial Taking occurs and the Lease does not terminate, 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 Rent shall be entitled to receive adjusted on a proportionate basis from 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 first day 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 be so deprived on account of such taking and restoration. 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 fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 1 contract

Samples: Commercial Lease (Interphase Corp)

Taking. In case the whole of the Premises, or such part thereof as shall substantially interfere with Tenant's ’s use and occupancy thereof, shall be taken by any lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within sixty (60) days of after receipt of notice of such taking, either Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority. If such portion of the Building or 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 Project economically unviable for its use as presently intended, or requires cancellation of tenant leases representing substantially all of 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 If the amount of property or the type of estate taken shall not substantially interfere with Tenant's ’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 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 services and utilities provided to 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 fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 1 contract

Samples: Office Lease (Maguire Properties Inc)

Taking. In case If the whole or a substantial part (as hereinafter defined) of the Premises (or use or occupancy of the Premises, or such part thereof as shall substantially interfere with Tenant's use and occupancy thereof, ) shall be taken or condemned by any lawful power governmental or quasi-governmental authority by exercise for any public or quasi-public use or purpose (including sale under threat of such a taking), referred to herein as a “Taking”, then the terms of this Lease shall cease and terminate as of the right date when title vests in such governmental or quasi-governmental authority, and the rent and additional rent shall be abated on the date when such title vests in such governmental or quasi-governmental authority (the “Taking Date”). If less than a substantial part of eminent domain, the Premises is taken or sold to prevent such taking, within sixty condemned by any governmental or quasi-governmental authority for any public or quasi-public use or purpose (60) days of receipt of notice including sale under threat of such a taking), either the rent and additional rent shall be equitably adjusted (on the basis of the number of square feet before and after such event) on the date when title vests in such governmental or quasi-governmental authority, and the Lease shall otherwise continue in full force and effect. If the taking of a part of the Premises materially interferes with Tenant’s ability to continue its business operations in substantially the same manner and space, then Tenant or Landlord may terminate this Lease effective as of the date possession is required Taking Date. Tenant shall have no claim against Landlord (or otherwise) and hereby agrees to be surrendered to said authority. If such make no claim against the condemning authority for any portion of the Building 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 economically unviable for its use as presently intended, this Lease amount that may be terminated by Landlord, awarded as damage as a result of the date any governmental or quasi-governmental taking or condemnation (or sale under treat of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60condemnation) days following notice to Landlord or for the value of any unexpired term of the date on which said vesting will occurLease or for loss of profits or moving expenses or for any other claim or cause of action. Except as provided hereinNotwithstanding anything else in this Section 15(d), Tenant shall not because of such taking assert any may claim against Landlord or and recover from the taking condemning authority a separate award for any compensation because of such takingTenant’s moving expenses, 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 Premisesbusiness dislocation damages, 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 be so deprived on account of such taking and restoration. 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 fixtures belonging fixtures, the unamortized costs of leasehold improvements paid for by Tenant and any other award that would not substantially reduce the award payable to Tenant or for relocation or business interruption expenses recoverable from Landlord. Each party shall seek its own award, as limited above, at its own expense, and neither shall have any right to the taking authorityaward made to the other.

Appears in 1 contract

Samples: Lease Agreement (Opinion Research Corp)

Taking. In case the whole of the Premises, or such part thereof as shall substantially interfere with Tenant's ’s use and occupancy thereof, shall be taken by any 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 effective as of the date possession is required to be surrendered to said authority. If such portion of the Building or 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 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 event, the amount of property or the type of estate taken shall not substantially interfere with Tenant's ’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 be so deprived on account of such taking and restoration. Nothing contained in this Article 13 11 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. Nothing in this paragraph shall prohibit Tenant 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 right of eminent domain.

Appears in 1 contract

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

Taking. In case (a) If the whole or a material portion of the Premises, Facility or such part thereof as shall substantially interfere with Tenant's use and occupancy thereof, shall be any Colocation Space is taken by any lawful under the power or authority by exercise of the right of eminent domain, or sold to a governmental authority to prevent the exercise thereof (collectively, a “Taking”), the applicable Agreement or Agreements (that are affected by such taking, within sixty (60Taking) days of receipt of notice of such taking, either Tenant or Landlord may shall automatically terminate this Lease effective as of the earlier of the date of transfer of title resulting from such Taking or the date of transfer of possession is required to be surrendered to said authority. If resulting from such Taking (the “Taking Date”). (b) In the event of a Taking of: (i) such portion of the Building is so taken or sold so Facility as to requireshall, in the opinion of LandlordSupplier, substantially interfere with Supplier’s operation thereof for a substantial alteration period of time in excess of one hundred eighty (180) days, Supplier may terminate the applicable Agreement or reconstruction Agreements (that are affected by such Taking) upon the Taking Date by delivery of the remaining portions thereof, or which renders the Building economically unviable for its use as presently intended, 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 Customer given at any time prior to the Taking Date or (60ii) days following such portion of the 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 Landlord 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 (to the extent of the date condemnation award received by Supplier), proceed to restore (to the extent permitted by applicable Laws) the applicable Colocation Space and the Facility (other than Customer Equipment) to a complete, functioning unit and (ii) the Charges payable hereunder shall be equitable reduced based on which said vesting will occur. the portion of the Colocation Space that Customer is prevented from using for the Permitted Use as a result of such Taking. (d) Except as expressly provided hereinotherwise in this Section 10.2, Tenant shall not because of such taking assert any claim against Landlord or the taking authority entire award for any compensation because of such taking, and Landlord Taking shall be entitled belong to receive the entire amount of any award Supplier (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 PremisesCustomer), Landlord except that Customer shall be entitled to independently pursue a separate award for the entire amount 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 the Facility of any Customer (or any portion thereof) shall terminate any Agreement or entitle Customer to any abatement or reduction of the Charges payable by Customer hereunder; provided that any award without deduction for any estate or interest such temporary Taking shall belong to Customer, but only to the extent that the award applies to any time period during the Term of Tenant. In such event, Landlord the applicable Agreement. (e) This Section 10.2 shall promptly proceed to restore be Customer’s sole and exclusive remedy in the Premises to substantially their condition prior to such partial takingevent of a Taking, and each of Supplier and Customer hereby waives the rent shall be abated in proportion provisions of any Laws to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restorationcontrary. 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 fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority11.

Appears in 1 contract

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

Taking. In case the whole of the Premises, or such part thereof as shall substantially interfere with Tenant's use and occupancy thereof, shall be taken by any 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 effective as of the date possession is required to be surrendered to said authority. If such portion of the Building or 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 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 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 be so deprived on account of such taking and restoration. Nothing contained in this Article 13 11 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. Nothing in this paragraph shall prohibit Tenant 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 right of eminent domain.

Appears in 1 contract

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

Taking. In case the whole of the Premises, or such part thereof as shall substantially interfere with Tenant's use and occupancy thereof, shall be taken by any 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 effective as of the date possession is required to be surrendered to said authority. If such portion of the Building or 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 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 event, the amount of property or the type of estate taken shall not substantially interfere with Tenant's ' 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 be so deprived on account of such taking and restoration. Nothing contained in this Article 13 11 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. Nothing in this paragraph shall prohibit Tenant 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 right of eminent domain.

Appears in 1 contract

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

Taking. In case the whole of the Premises, or such part thereof as shall substantially interfere with Tenant's ’s use and occupancy thereof, shall be taken by any 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 effective as of the date possession is required to be surrendered to said authority. If such portion of the Building 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 economically unviable for its use as presently intended, 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 the amount of property or the type of estate taken shall not substantially interfere with Tenant's ’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 be so deprived on account of such taking and restoration. 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 fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 1 contract

Samples: Office Lease (Vestin Fund Iii LLC)