Taking Date definition

Taking Date means, with respect to any Taking, the date on which physical possession of the portion of the Premises that is the subject of such Taking is transferred to the condemning authority.

Taking Date means: the date on which the condemning authority shall have the right to possession of all or part of the Premises.

Taking Date means the first date on which the condemning authority has the right to possession of the Land or Improvements which have been Taken.

Examples of Taking Date in a sentence

• If less than the whole of the Premises, or less than such portion thereof as will make the Premises unusable as of the Taking Date, is taken, Base Rent and other charges payable to Landlord shall be reduced in proportion to the amount of the Premises taken.

• If a Substantial Taking occurs but Lessee does not exercise its termination option this Lease will remain in full force and effect according to its terms, except that effective as of the Taking Date this Lease will terminate automatically as to the portion of the Premises that is the subject of such Taking and Base Rent after the Taking Date will be adjusted to reflect the reduced Land remaining after the Taking.

• Rent, and any other charges due hereunder, shall be paid only to the Taking Date.

• If a Taking occurs during the Term of this Agreement that, in the reasonable commercial judgment of Landlord, makes the use of the Premises for a parking facility no longer possible (a “Substantial Taking”), Landlord may, at its option, terminate this Agreement as of the date physical possession of any of the Premises subject to such Taking is transferred to the condemning authority (the “Taking Date”) by giving notice to Tenant within thirty (30) days following the Taking Date.

• In the event of a partial taking or transfer, a pro rata abatement of rent and any other charges due hereunder shall be effected as of the Taking Date for the balance of the term of the Lease.

More Definitions of Taking Date

Taking Date means the later of (i) the date on which the condemning authority takes actual physical possession of the Leased Premises or any portion thereof, as the case may be, or (ii) the date on which the right to compensation and damages accrues under the law applicable to the Leased Premises.

Taking Date. With respect to any Taking, the date on which the condemning authority or purchaser under threat shall have the right to possession of the Demised Premises, the Building or the Land or any portion thereof.

Taking Date is defined in Section 10.2 of the Standard Lease Provisions.

Taking Date means the date of the vesting of title to all or part of the Premises in a condemning authority, or the date upon which construction commences to effectuate a change of grade of any street abutting the Premises.

Taking Date means the earlier of the date that title to the property taken is vested in the Condemning Authority or the date the Condemning Authority has the right to possession of the property being condemned.

Taking Date shall have the meaning set forth in Section 14.1 hereof.

Taking Date is defined in Section 8.01.