Common use of TERMINATION OF LEASEHOLD Clause in Contracts

TERMINATION OF LEASEHOLD. In the event that there is a total condemnation of the Leased Premises during the lease term or any extension hereof, the leasehold estate hereby created shall cease and terminate as of the date title to the property is taken by the condemnor or at the time the condemnor is authorized to take possession of the property as stated in an order for possession, whichever is earlier.

TERMINATION OF LEASEHOLD. In the event that there is a total partial condemnation of the Leased Premises during the lease term or any extension hereof, the leasehold estate hereby created this Lease shall cease and terminate as to the portion of the Leased Premises so taken on the date title to the property is taken by the condemnor or at the time the condemnor is authorized to take possession of the property as stated in an order for possession, whichever is earlier.