Total Taking of the Property definition

Total Taking of the Property means a Condemnation either (i) of (a) the entire Property or (b) a portion thereof if, in Lessee’s commercially reasonable opinion, as a result thereof the Property cannot be restored to an economically viable office complex with a similar (within ten percent (10%)) of usable square feet of floor area; or (ii) as a result of which it will take in excess of (A) eighteen (18) months from the beginning of restoration to restore the Building to the same condition as existed immediately prior to the Condemnation and the Condemnation occurs at any time during the Lease Term or (B) three (3) months from the beginning of restoration to restore the Building to the same condition as existed immediately prior to the Condemnation and the Condemnation occurs during the last twelve (12) months of the then current Lease Term, such time periods to be determined as provided in Section 12.1 with respect to a Casualty; or (iii) as a result of which Lessee must either (A) cease its operations at the Building for a period of fifteen (15) months or more, (B) move a Substantial Portion of its operations from the Building or relocate a Substantial Percentage of its employees from the Building, in either case to another location not on the Property or (C) lay off a Substantial Percentage of its employees from the Building for a period of nine (9) months or more.
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Total Taking of the Property means a Condemnation either (i) of (a) the entire Property or (b) a portion thereof if, in Lessee’s commercially reasonable opinion, as a result thereof Ameritech Center or the Lakewood Building (or the related parking structures) cannot be restored to an economically viable office complex with a similar (within ten percent (10%)) of usable square feet of floor area; (ii) as a result of which it will take in excess of (A) twelve (12) months from the beginning of restoration to restore such Building to the same condition as existed immediately prior to the Condemnation and the Condemnation occurs at any time during the Lease Term or (B) three (3) months from the beginning of restoration to restore such Building to the same condition as existed immediately prior to the Condemnation and the Condemnation occurs during the last eighteen (18) months of the then current Lease Term, such time periods to be determined as provided in Section 12.1 with respect to a Casualty; or (iii) as a result of which Lessee must either (A) cease its operations at such Building for a period of six (6) months or more, (B) move a Substantial Portion of its operations from such Building or relocate a Substantial Percentage of its employees from such Building, in either case to another location not on the Property or (C) lay off a Substantial Percentage of its employees from such Building for a period of six (6) months or more.
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Examples of Total Taking of the Property in a sentence

  • The temporary turning area shall be constructed of chip and spray.

Related to Total Taking of the Property

  • Total Taking means the Taking of the fee title to all the Premises and the Improvements on the Premises, which shall be considered to include any offsite improvements effected by Tenant to serve the Premises or the improvements or the parking on the Premises.

  • Partial Taking means the taking of only a portion of the Premises which does not constitute a Total Taking; (4) "Date of Taking" means the date upon which the title to the Premises, or a portion thereof, passes to and vests in the condemnor or the effective date of any order for possession if issued prior to the date title vests in the condemnor; and (5) "Award" means the amount of any award made, consideration paid, or damages ordered as a result of a Taking.

  • Substantial Taking means a Taking of at least 15% of the Land or Improvements which, in Lessee’s and Lessor’s reasonable judgment, will materially and adversely interfere with any development or use of the Premises that Lessee is then conducting or intends in good faith to conduct in the future.

  • Material Taking shall have the meaning set forth in Section 6.4.

  • Child-occupied facility means a building or portion of a building constructed prior to 1978, visited regularly by the same child, age six years or younger on at least two different days within any week (Sunday through Saturday period), provided that each day’s visit lasts at least three hours and the combined weekly visit lasts at least six hours, and the combined annual visits last at least 60 hours. Child-occupied facilities may include, but are not limited to, day-care centers, preschools and kindergarten classrooms.

  • Single Room Occupancy or “SRO” means housing consisting of single room dwelling units that is the primary residence of its occupant or occupants. An SRO does not include facilities for students.

  • Date of commencement of the project means the date of the agreement.

  • Cost of the Project means and embraces the cost of construction; the cost of all

  • Rentable Area of the Premises The amount of square footage set forth in Section 1.01(10).

  • Date of Taking means the date the Condemnor has the right to possession of the property being condemned.

  • Owner-occupied means property that is the principal

  • Premises Building Total Destruction means if the Building of which the Premises are a part is damaged or destroyed to the extent that the cost to repair is fifty percent (50%) or more of the then Replacement Cost of the Building.

  • Premises Total Destruction means damage or destruction to the Premises, other than Lessee Owned Alterations and Utility Installations and Trade Fixtures, which cannot reasonably be repaired in six (6) months or less from the date of the damage or destruction. Lessor shall notify Lessee in writing within thirty (30) days from the date of the damage or destruction as to whether or not the damage is Partial or Total.

  • Occupancy Date means the date on which occupancy of all Units in a Project is permitted;

  • Clean-Up Period has the meaning specified in Section 8.02(b).

  • Prior Occupancy means Owner’s use of all or parts of the Project before Substantial Completion, as more fully set forth in Section 6.08 A.

  • Date of occurrence in these Regulations means the date of contract signing, date of payment, dates of boards of directors resolutions, or other date that can confirm the counterparty and monetary amount of the transaction, whichever date is earlier.

  • Related facilities means any ancillary facilities owned by the Company which are —

  • Permitted Occupier means if used in the Agreement, any person who is licensed or permitted by the Landlord to reside at the Property together with the Tenant and who does so as a rent free licensee of the Tenant.

  • Transient occupancy means occupancy in transient lodging that has all of the following

  • Permitted Facility means a facility authorized by the general permit to discharge total nitrogen or

  • Building, structure, facility, or installation means all of the pollutant-emitting activities which belong to the same industrial grouping, are located on one or more contiguous or adjacent properties, and are under the control of the same person (or persons under common control) except the activities of any vessel. Pollutant-emitting activities shall be considered as part of the same industrial grouping if they belong to the same major group (i.e., which have the same two-digit code) as described in the Standard Industrial Classification Manual, 1972, as amended by the 1977 Supplement (U.S. Government Printing Office stock numbers 4101-0066 and 003-005-00176-0, respectively).

  • Residence in foreclosure or “affected residence” means residential real property consisting of one to four family dwelling units, one of which the owner occupies as the owner’s principal place of residence, where a delinquency or default on any loan payment or debt is secured by or attached to the residential real property including but not limited to contract for deed payments, real estate contracts, or real estate taxes.

  • Residence premises means the unit where you reside shown as the "residence premises" in the Declarations.

  • Rehabilitation facility means a non-residential facility that provides therapy and training rehabilitation services at a single location in a coordinated fashion, by or under the supervision of a physician pursuant to the law of the jurisdiction in which treatment is provided. The center may offer occupational therapy, physical therapy, vocational training, and special training such as speech therapy. The facility may be either of the following:

  • Substantial Completion Date means the date on which Substantial Completion occurs.