EMINENT DOMAIN/CONDEMNATION. 7.1 Lessor to notify Lessee 7.2 Whole taking, rents prorated 7.3 Taking
EMINENT DOMAIN/CONDEMNATION. 7.1 - The Lessor shall notify the Lessee within ten (10) days of the commencement of eminent domain/condemnation proceedings against the Leased premises described in paragraphs 2.1 and 2.2 by a public agency authorized by law to condemn property. The Lessor shall timely notify the Lessee of the Lessor's intent to contest eminent domain/condemnation proceedings. The Lessor shall notify the Lessee within ten (10) days of acquisition by eminent domain/condemnation of the Leased premises described in paragraphs 2.1 and 2.2 by a public agency.
EMINENT DOMAIN/CONDEMNATION. 19.1 If the Premises or any portion thereof are taken under the power of eminent domain, or sold under the threat of the exercise of said power (all of which are therein are called "condemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of the floor area of the building or the Premises, or more than twenty-five percent (25%) of the land area of the Project which is not occupied by any building, is taken by condemnation, Lessee may at Lessee's option, to be exercised in writing only within thirty (30) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within thirty (30) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate the Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the rent shall be reduced in the proportion that the floor area of the Building or Premises taken bears to the total floor area of the Building or Premises, as the case may be. No reduction of rent shall occur if the only area taken is that which does not have a building located thereon, provided however, that the taking of such area does not interfere with Lessee's conduct of business on the Premises. Any reward for the taking of all or any part of the Premises or Project under the power of eminent domain or any payment made under threat of the exercise of such power shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold or for the taking of the fee, or as severance damages; provided, however, that Lessee shall be entitled to any award for loss of business, damage to Lessee's trade fixtures, Lessee's removable personal property, depreciation to, and cost of removal of stock and fixtures. In the event that this Lease is not terminated by reason of such condemnation, Lessor shall to the extent of severance damages received by Lessor in connection with such condemnation, repair any damage to the Premises caused by such condemnation except to the extent that Lessee has been reimbursed therefore by the condemning authority. Lessee shall pay any amount in excess of such severance damages required to complete such repair.
EMINENT DOMAIN/CONDEMNATION. If the whole or any substantial part of the Building taken or condemned by any competent authority for any public use or purpose, or if any adjacent property or street shall be so condemned or improved in such a manner as to require the use of any part of the Building, the term of this Lease shall, at the option of Landlord or the condemning authority, be terminated upon, and not before, the date when possession of the part so taken shall be required for such use or purpose, and Landlord shall be entitled to receive the entire award without apportionment with Tenant. Rent shall be apportioned as of the date of tenant's vacating as the result of said termination.
EMINENT DOMAIN/CONDEMNATION. In the event the whole or any part of the Demised Premises shall be taken under any power of eminent domain or condemnation; the Lessee hereby waives any claim to compensation for the Lessee’s loss of the fair market value of the Demised Premises.
EMINENT DOMAIN/CONDEMNATION. If the property or any part thereof wherein the demised premises are located shall be taken by public or quasi-public authority under any power of eminent domain or condemnation, this lease, at the option of the Landlord, shall forthwith terminate and the Tenant shall have no claim or interest in or to any award of damages for such taking. Notwithstanding the foregoing, Tenant shall have the right to make a separate claim for its expenses of relocating and for the value of its trade fixtures and equipment; provided, however, that such claims shall not reduce the Landlord’s award. Twenty-second - Security: Intentionally omitted. Twenty-third - Arbitration: Intentionally omitted.
EMINENT DOMAIN/CONDEMNATION. If, prior to Closing, the Property or any material part thereof is subject to an eminent domain or condemnation proceeding, Seller, immediately upon learning thereof, shall give written notice to Purchaser. Thereafter, Purchaser shall have a period of ten (10) days within which to elect, by written notice to Seller, to terminate the Agreement. In the event of such termination on or before Closing, all Xxxxxxx Money made pursuant to the Agreement shall be returned to Purchaser, and the Agreement shall become null and void. If no such election is timely made, Purchaser shall be deemed to have waived its rights under this paragraph, except that, if the transaction contemplated hereby closes, Purchaser shall be entitled to the proceeds or the right to negotiate, settle and collect the proceeds of such condemnation award, and Seller shall execute and deliver all documents reasonably requested of Seller in order to effectuate this section.
EMINENT DOMAIN/CONDEMNATION. If the property or any part thereof wherein the demised premises are located shall be taken by public or quasi-public authority under any power of eminent domain or condemnation, this Lease at the option of the Landlord shall forthwith terminate and the Tenant shall have no claim or interest in or to any award of damages for such taking. Notwithstanding the foregoing, Tenant shall have the right separately to pursue against the condemning authority an award in respect of the loss, if any, to leasehold improvements paid for by Tenant without any credit or allowance from Landlord and in respect to the loss of Tenant's leasehold interest.
EMINENT DOMAIN/CONDEMNATION. If all or any substantial part of the Building or Premises is taken or condemned by any competent authority for any public use or purpose, or if any adjacent property or street shall be condemned or improved in a manner that requires the use of any part of the Building, the Term of this Lease Agreement shall, at the option of Lessor, be terminated upon, and not before, the day when possession of the part taken shall be required for such use or purpose, and Lessor shall be entitled to receive the entire award without apportionment with Lessee.
EMINENT DOMAIN/CONDEMNATION. If the Premises or any part thereof are permanently taken or condemned, transferred, or taken through Eminent Domain or Condemnation proceedings, or by agreement in lieu of Eminent Domain or Condemnation, for any public or quasi-public use or purpose by any competent authority, and whether or not this Lease shall be terminated, the entire compensation award therefore shall belong to Landlord and upon such effective date, this Lease shall terminate by operation of law.
