Substantial Condemnation definition

Substantial Condemnation means any Condemnation that (a) takes the entire Premises; (b) in Tenant’s reasonable determination renders the remaining Premises Uneconomic; or (c) occurs less than two (2) years before the end of the Term.

Substantial Condemnation has the meaning assigned to such term in Section 7.07(c).

Substantial Condemnation means any Condemnation that affects all or a substantial portion of the Leased Premises or any Condemnation that has or is reasonably likely to have a materially adverse effect on any business operations then being conducted on the Leased Premises. Tenant may waive its right to treat as a Substantial Condemnation any Condemnation that would otherwise qualify as such.

Examples of Substantial Condemnation in a sentence

• After Tenant has completed and fully paid for Restoration, any remaining Condemnation Award shall be distributed to Landlord and Tenant as if it arose from a Substantial Condemnation that affected only the part of the Premises taken, with an equitable allocation of all elements taken into account in determining such distribution.

• To reimburse Landlord and Tenant for their respective actual costs and expenses, including Legal Costs, incurred in the Substantial Condemnation and determining and collecting the Condemnation Award.

• If a Substantial Condemnation occurs during the Term, then as of the Condemnation Effective Date the Expiration Date shall occur and the parties shall apportion Rent.

• The Union will not institute a grievance directly affecting an employee which such employee could themselves institute, by passing the provisions of steps 1 and 2 above.

• If a Substantial Condemnation occurs, then this Lease (except as it relates to allocation of the Condemnation Award) shall terminate on the Condemnation Effective Date.

More Definitions of Substantial Condemnation

Substantial Condemnation means any Condemnation that takes the entire Premises or so much thereof that the remainder, in Lessee’s reasonable judgment (with Leasehold Mortgagee’s consent), is not capable of being Restored to an economically viable whole for the conduct of the Permitted Use specified in Section 6.1.

Substantial Condemnation means any Condemnation that, in Tenant's reasonable judgment, renders the remaining portion of a Property unsuitable for the conduct of the then current use of the Property at the time of the Condemnation. Tenant may waive its right to treat as a Substantial Condemnation any Condemnation that would otherwise qualify as such.

Substantial Condemnation means a Condemnation of less than the entire Premises, or of less than Tenant’s entire leasehold estate therein, where such Condemnation results in any of the following:

Substantial Condemnation means the occurrence of: (a) the Condemnation of all of the Property; or (b) the Condemnation of part of the Property where the Estimated Costs of Restoration is 75% or more of the estimated Restored Value of the Property. “Partial Condemnation” means the occurrence of any Condemnation which is not a Substantial Condemnation.

Substantial Condemnation means any Condemnation that (a) takes the entire Sports Park; (b) in the Operator’s reasonable determination renders the remaining Sports Park Uneconomic; or (c) occurs less than six (6) months before the end of the Term.

Substantial Condemnation means any Condemnation that (a) takes the entire Premises; or (b) in Tenant’s reasonable determination (with Leasehold Mortgagee’s consent) renders the remaining Premises unsuitable for the Permitted Uses.

Substantial Condemnation means settled condemnation or eminent domain proceedings which result in a taking of (i) all or a portion of the Prospect Plains Road/Cranbury, Teterboro or Xxxxx Park Properties and which entitle one or more Tenants of any of such Properties which, in the aggregate, are obligated to pay rent in excess of $2,000,000 per annum, to terminate their Leases or (ii) all or a portion of two (2) or more other Properties and which entitle one or more Tenants of any of such Properties which, in the aggregate, are obligated to pay base rent in excess of $2,000,000 per annum, to terminate their Leases.