Total Condemnation definition
Total Condemnation has the meaning set forth in Section 11.02.
Total Condemnation means a Condemnation that involves a taking of Lessor's entire title to a Property.
Total Condemnation means a Condemnation of all or substantially all of any Property, including a Condemnation (other than for a temporary use) of such a substantial part of such Property resulting in the portion of the Property remaining after such Condemnation being unsuitable for use as a Permitted Facility, as determined by Tenant in the exercise of good faith business judgment.
Examples of Total Condemnation in a sentence
If the date of such Total Condemnation is other than the first day of a month, the Base Monthly Rental for the month in which such Total Condemnation occurs shall be apportioned based on the date of the Total Condemnation.
Subject to Section 11.07 below, Lessor shall be entitled to receive the entire Net Award in connection with a Total Condemnation without deduction for any estate vested in Lessee by this Lease, and Lessee hereby expressly assigns to Lessor all of its right, title and interest in and to every such Net Award and agrees that Lessee shall not be entitled to any Net Award or other payment for the value of Lessee’s leasehold interest in this Lease.
Any Net Award relating to a Total Condemnation or a Partial Condemnation shall be adjusted by Lessor or, at Lessor’s election, Lessee.
Subject to the terms and provisions of the Mortgages, any Net Award relating to a Total Condemnation or a Partial Condemnation shall be adjusted by Lessor or, at Lessor’s election, Lessee.
On the date of the Total Condemnation, all obligations of either party hereunder shall cease; provided, however, that Lessee’s obligations to the Indemnified Parties under any indemnification provisions of this Lease and Lessee’s obligation to pay Rental and all other Monetary Obligations (whether payable to Lessor or a third party) accruing under this Lease prior to the date of termination shall survive such termination.
More Definitions of Total Condemnation
Total Condemnation. As defined in Section 12.8(c).
Total Condemnation means any condemnation or eminent domain proceeding or action (including but not limited to any transfer made in lieu of or in anticipation of the exercise of such taking) by any Governmental Authority, whether for any permanent or temporary use, occupancy or other interest affecting such portion of the Mortgaged Property as, when so taken or condemned, would leave, in the Agent’s reasonable determination, a balance of the Mortgaged Property that, due either to the area so taken or the location of the part so taken in relation to the part not taken, would not, under economic conditions, physical constraints, zoning laws, building regulations and other Laws and Regulations then existing, readily accommodate a new or reconstructed building or buildings and other improvements of a type comparable to the Improvements existing as of the date of such taking or condemnation.
Total Condemnation as used in this Article shall mean the taking by eminent domain (“Condemnation”) by a public or quasi-public agency or entity having the power of eminent domain (“Condemner”) of:
(1) More than fifty percent (50%) of the total ground area or the Premises; or
(2) Less than fifty percent (50%) of the ground area of the Premises at a time when the remaining buildings or improvements on the Premises cannot reasonably be restored to a condition suitable for Tenant’s occupancy for the uses permitted by this Lease within ninety (90) normal eight-hour working days under all laws and regulations then applicable; or
(3) Less than fifty percent (50%) of the ground area of the Premises in such a manner that Tenant is materially prevented from carrying on its then current operations on the remaining portion of the Premises at no material additional costs than were incurred immediately prior to the taking.
Total Condemnation means (a) Condemnation of all or substantially all of any Property or (b) a Condemnation (other than a Temporary Taking) of such a substantial part of such Property that results in the portion of the Property remaining after such Condemnation being unsuitable for use as a Permitted Facility, as determined by Tenant in the exercise of good faith business judgment, provided that Tenant provides to Landlord an officer’s certificate executed by an officer of Tenant certifying to the same within sixty (60) days of such Condemnation (the “Tenant Certificate”). If Tenant does not provide the Tenant Certificate within such period, the Condemnation shall not be considered a Total Condemnation. The date upon which a Total Condemnation occurs shall be, in the case of a Total Condemnation described in clause (a) of the immediately preceding sentence, the date of the Condemnation and, in the case of a Total Condemnation described in clause (b) of the immediately preceding sentence, thirty (30) days following the latest of (i) the date of the Condemnation, (ii) the date Tenant provides the Tenant Certificate or (iii) the date Tenant ceases operation of the Property as a Permitted Facility. In the event of a Total Condemnation, Tenant may propose that Landlord accept a Substitute Property acceptable to Landlord for the condemned Property pursuant to Section 14.05 below and this Section 11.02. If the substitution is effected pursuant to Section 14.05 below and this Section 11.02, then the Net Award shall be paid to Tenant at the closing of the substitution and there shall be no reduction of Base Annual Rental payable under this Lease and no abatement of Base Annual Rental for any period. In the event of a Total Condemnation and no substitution has been made therefor pursuant to Section 14.05 below and this Section 11.02, then Landlord shall retain the Net Award unless and until a substitution for such Property occurs pursuant to Section 14.05 and this Section 11.02 and there shall be no reduction of Base Annual Rental payable under this Lease and no abatement of Base Annual Rental for any period. Notwithstanding Section 14.05 below, in no event shall the Tenant have a right to make a substitution for the condemned Property more than six months after the date upon which the Total Condemnation occurs.
Total Condemnation. DEFINED: As used in this Lease, the terms "total condemnation" and "total taking" mean the taking of the entire Leased Premises
Total Condemnation as used in this Article shall mean the taking by eminent domain, herein called "condemnation," by a public or quasi-public agency or entity having the power of eminent domain, herein called "condemnor," of either:
Total Condemnation means any condemnation or eminent domain proceeding or action (including but not limited to any transfer made in lieu of or in anticipation of the exercise of such taking) by any Governmental Instrumentality, whether for any permanent or temporary use, occupancy or other interest affecting such portion of the Property or the Improvements as, when so taken or condemned, would leave, in the Administrative Agent’s good faith determination, a balance of the Property or Improvements that, due either to the area so taken or the location of the part so taken in relation to the part not taken, would not, under economic conditions, physical constraints, zoning laws, building regulations and other Legal Requirements then existing, readily accommodate a new or reconstructed building or buildings and other improvements of a type fully comparable to the Improvements prior to giving effect to of such taking or condemnation.