Common use of Temporary Takings Clause in Contracts

Temporary Takings. Notwithstanding anything to contrary in this Section, if a Taking occurs with respect to all or any part of the Premises for a limited period of time not in excess of sixty (60) consecutive days, this Lease shall remain unaffected thereby, and Tenant shall continue to pay Rent and to perform all of the terms, conditions and covenants of this Lease. In the event of such temporary Taking, Tenant shall be entitled to receive that portion of any Award representing compensation for the use or occupancy of the Premises during the Term up to the total Rent owing by Tenant for the period of the Taking, and City shall be entitled to receive the balance of any Award.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

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Temporary Takings. Notwithstanding anything to contrary in this Section, if a Taking occurs with respect to all or any part of the Premises for a limited period of time not in excess of sixty (60) consecutive days, this Lease shall remain unaffected thereby, and Tenant Lessee shall continue to pay Rent and to perform all of the terms, conditions and covenants of this Lease. In the event of such temporary Taking, Tenant Lessee shall be entitled to receive that portion of any Award representing compensation for the use or occupancy of the Premises during the Term up to the total Rent owing by Tenant Lessee for the period of the Taking, and City shall be entitled to receive the balance of any Award.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

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Temporary Takings. Notwithstanding anything to the contrary in this Section, if there is a Taking occurs with respect to of all or any part of the Premises or Common Areas for a limited period of time not in excess of sixty less than one hundred eighty (60180) consecutive days, then (a) this Lease shall remain unaffected thereby, and will not be affected by the temporary Taking; (b) Tenant shall will continue to pay Rent and to perform all of the terms, conditions conditions, and covenants of this Lease. In the event of such temporary Taking, ; (c) Tenant shall will be entitled to receive that portion of any Award representing compensation for the use or occupancy of the Premises during the Term up to the total Rent owing by Tenant for the period of the Taking, ; and (d) City shall will be entitled to receive the balance balance, if any, of any the Award.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

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