Permanent Taking definition
Examples of Permanent Taking in a sentence
If there is a Permanent Taking of a portion of the Leased Property, or if there is a temporary Taking of all or a portion of the Leased Property, this Lease shall remain in effect so long as the Leased Property is not thereby rendered permanently Unsuitable For Its Primary Intended Use or temporarily Unsuitable For Its Primary Intended Use for a period not likely to, or which does not, exceed two hundred and seventy (270) days.
If a party shall have an option to terminate with respect to the Permanent Taking, then Owner may delay the beginning of the restoration until the option is waived or until the time within which the option may be exercised expires.
SECTION LINE 38TH STREET 17003 18 17 19 2220.59' 19 20 Owner: Parcel: County Parcel No. State Parcel No. Road: Hatched Area is the Approximate Permanent Taking The City of Noblesville and The Town of Fishers 811 8033304 49-07-18-107-004.000-801 ▇▇▇▇ ▇▇▇▇▇▇ 811 = Parcel Designation on Location Control Route Survey Plat Drawn By: TJN Checked By: RJK County: Section: Township: Range: ▇▇▇▇▇▇ 16 N 4 E Instrument: 1995-0066899 Dated: November 9, 1994 Dimensions Shown Are From The Above Listed Record Documents.
If there is a Permanent Taking of a portion of the Leased Property, or if there is a temporary Taking of all or a portion of the Leased Property, this Lease shall remain in effect so long as the Leased Property is not thereby rendered permanently Unsuitable For Its Primary Intended Use or temporarily Unsuitable For Its Primary Intended Use for a period not likely to, or which does not, exceed three hundred and sixty-five (365) days.
If part of the Project is taken pursuant to a Permanent Taking and this Agreement is not terminated, then Owner shall restore the Project to an architectural unit as near as possible to its function and condition immediately prior to the Permanent Taking.
If there is a Permanent Taking of a portion of the Leased Property, or if there is a temporary Taking of all or a portion of the Leased Property, this Lease shall remain in effect so long as the Leased Property is not thereby rendered permanently Unsuitable For Its Primary Intended Use or, from and after the Conversion Date, temporarily Unsuitable For Its Primary Intended Use for a period not likely to, or which does not, exceed three hundred and sixty-five (365) days.
Finally, if there is a Partial Permanent Taking and it requires restructuring and repairs to part of the Premises, the cost of such restructuring and repair shall be paid pro rata out of any award given to Landlord and Tenant.
If the whole of the Premises is taken by condemnation or by exercise of the right of eminent domain, or by voluntary transfer made under threat of condemnation or exercise of right of eminent domain (a "Taking"), and such Taking is permanent (a "Permanent Taking"), this Lease shall automatically terminate as of the date (the "Vesting Date") that title vests in the condemning authority, and Tenant shall pay all Rent due under this Lease up to the Vesting Date.
Permanent Taking - When Lease Can Be Terminated.........................................
If any portion of the Project is taken pursuant to a Permanent Taking or a Temporary Taking and the parties in good faith reasonably agree that the taking of such portion of the Project could have a material adverse effect on the continued operation of the Project, then the parties may agree to terminate this Agreement.