Termination in Event of Taking. If all the Premises are taken by eminent domain this Lease shall terminate when Tenant is required to vacate the Premises. If by a taking (i) the floor area of the Premises is reduced by more than fifteen percent (15%) thereof, or (ii) all access to the Premises from the adjacent public right of way is taken and reasonably comparable alternative access is not made available within sixty (60) days of such taking, then, in either such case, this Lease may at the option of either party be terminated, as of the date when Tenant is required to vacate the portion of the Premises so taken or upon the expiration of said sixty (60) day period, as the case may be, by notice given to the other not more than thirty (30) days after the date on which the party desiring to terminate receives notice of the taking in the case of situation (i) above, or within thirty (30) days after the expiration of said sixty (60) day period in the case of situation (ii) above. If by a taking the floor area of the Unit in which the Premises are situated is reduced by more than twenty-five percent (25%), this Lease may at the option of Landlord or Tenant be terminated, as of the date when the tenants or occupants of the portion of said Unit so taken are required to vacate the same, by giving notice to the other not more than thirty (30) days after the date on which Landlord receives notice of the taking.
Termination in Event of Taking. If all the Premises are taken by eminent domain, this Lease shall terminate when Tenant is required to vacate the Premises. If by a taking the floor area of the Premises is reduced by more than Five (5%) Percent thereof, or if said taking materially interferes with Tenant’s use of the Premises, this Lease may, at the option of either party, be terminated, as of the date when Tenant is required to vacate the portion of the Premises so taken, by written notice given to the other not more than thirty (30) days after the date on which the party desiring to terminate receives notice of the taking. If any portion of the parking lot is taken by eminent domain such that Landlord’s obligation to provide parking under Section 12.23 is impaired, Landlord shall provide such parking in the parking lot in the Complex as close as reasonably possible to the Building or shall reimburse Tenant for any costs incurred in acquiring such parking. Notwithstanding the foregoing, in the event neither party elects to terminate this Lease, Landlord shall restore the Premises to an architectural whole within ninety (90) days after the date of such taking.
Termination in Event of Taking. If all the Leased Premises are taken by eminent domain, this Lease shall terminate when Tenant is required to vacate the Leased Premises. If by a taking the floor area of the Leased Premises is reduced by more than 20 percent thereof, this Lease may at the option of the Tenant be terminated,as of the date when Tenant is required to vacate the portion of the Leased Premises so taken, by written notice given to the Landlord not more than thirty (30) days after the date on which the Tenant receives notice of the taking. Floor area shall not include the loss of more than 25% of the parking area and parking spaces and material reduction in the traffic flow area for access to the drive up facility.
Termination in Event of Taking. If the entire Subleased Premises becomes subject to the exercise of the power of eminent domain (a "Taking"), this Sublease shall terminate when Subtenant is required to vacate the Subleased Premises. If by one or more Takings the floor area of the Subleased Premises is reduced by more than twenty percent (20%) this Sublease may, at the option of either Sublandlord or Subtenant, be terminated as of the date when Subtenant is required to vacate the portion of the Subleased Premises so taken. If by one or more Takings the floor area of the Building is reduced by more than twenty percent (20%) this Sublease may, at the option of Sublandlord, be terminated as of the date when Sublandlord is required to vacate the portion of the Building so taken or as of the date when the Sublandlord or any of the other tenants or occupants of the portion of the Building so taken are required to vacate the same, as the case may be. Any exercise of a right of termination pursuant to this Section of the Sublease shall be by written notice given from one party to the other not more than thirty (30) days after the date on which the party desiring to terminate receives notice of the Taking.
Termination in Event of Taking. If all the Demised Premises are taken by eminent domain, this Lease shall terminate when Tenant is required to vacate the Demised Premises. If by a taking the floor area of the Demised Premises is reduced by more than twenty percent (20%), or in case access to public highways is cut off or the parking spaces allocated are reduced by more than twenty-five percent (25%) by such taking, this Lease may at the option of either party be terminated as of the date when Tenant is required to vacate the portion of the Demised Premises so taken, by written notice given to the other not more than thirty (30) days after the date on which the party desiring to terminate received notice of the taking. If by a taking the floor area of the building in which the Demised Premises are situated is reduced by more than twenty percent (20%) or if access to public highways from the Commercial Building Land is cut off or if the parking area is reduced by more than twenty-five percent (25%), this Lease may at the option of either party be terminated within sixty (60) days after the date of the taking, by written notice to the other party, not more than thirty (30) days after the date on which the party desiring to terminate received notice of the taking. If neither party elects to terminate this Lease, then the Landlord, with all reasonable dispatch, shall restore the Demised Premises to as economically a viable unit as is practicable under the circumstances, shall restore access to a public highway and will provide substitute parking for that which has been taken.
Termination in Event of Taking. If all the Leased Premises are taken by eminent domain, this Lease shall terminate when Tenant is required to vacate the Leased Premises. If by a taking the floor area of the Leased Premises is reduced by more than 20 percent thereof, this Lease may at the option of the Tenant be terminated, as of the date when Tenant is required to vacate the portion of the Leased Premises so taken, by written notice given to the Landlord not more than thirty (30) days after the date on which the Tenant receives notice of the taking.
