EFFECT OF TAKING definition

EFFECT OF TAKING. In the event of any taking of the Building or the land upon which it stands under circumstances whereby this lease shall not terminate under the provisions of Section XVII, then for the purposes of determining Tax Excess, in the event the valuation of Parcel 20G is lowered to reflect the taking, the Tax Base shall be lowered proportionately in relation to the reduced valuation. In the event the taking includes a portion of the demised premises or the building which it is a part, Tenant's Proportionate Share shall be adjusted pro-rata to reflect the proportion of the premises and/or Property remaining after such taking.
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Examples of EFFECT OF TAKING in a sentence

  • EFFECT OF TAKING: In the event of any taking of the Building or the land upon which it stands under circumstances whereby this Lease shall not terminate under the provisions of Section XVII, and in the event the taking includes a portion of the premises or the Building, Tenant's Proportionate Share for taxes shall be adjusted pro-rata to reflect the proportion of the premises and/or Building remaining after such taking.

Related to EFFECT OF TAKING

  • Date of Taking means the date the Condemnor has the right to possession of the property being condemned.

  • Eminent Domain means the taking of title to, or the temporary use of, the Project or any part thereof pursuant to eminent domain or condemnation proceedings, or any voluntary conveyance of any part of the Project during the pendency of, or as a result of a threat of, such proceedings.

  • Taking Over means the Employer’s written acceptance of the Facilities under the Contract, after successful Trial – Operation for the specified period in accordance with the Contract, as provided in GCC Sub-Clause 20.1.5.

  • Has a record of such an impairment means has a history of, or has been misclassified as having, a mental or physical impairment that substantially limits one or more major life activities.

  • 13 Initial Purchasers"....................................................................13 "Interest Payment Date".................................................................13 "Interest Rate Agreements"..............................................................13 "Inventory Facility"....................................................................14 "Investment"............................................................................14 "Issue Date"............................................................................14 "Lien"..................................................................................14 "Liquidated Damages"....................................................................14 "Manufacturer"..........................................................................15 "Maturity"..............................................................................15 "Moody's"...............................................................................15 "Net Cash Proceeds".....................................................................15 "Non-U.S. Person".......................................................................16 "Officers' Certificate".................................................................16 "Opinion of Counsel"....................................................................16 "Opinion of Independent Counsel"........................................................16 "Outstanding"...........................................................................16 "Pari Passu Indebtedness"...............................................................17 "Paying Agent"..........................................................................17 "Permitted Guarantor Junior Payment"....................................................17 "Permitted Holders".....................................................................17 "Permitted Investment"..................................................................18 "Permitted Junior Payment"..............................................................19 "Permitted Subsidiary Preferred Stock"..................................................19 "Person"................................................................................19 "