Common use of Condemnation of Entire Premises Clause in Contracts

Condemnation of Entire Premises. If all of the Premises is taken or condemned for a public or quasi-public use, this Lease shall terminate as of the date title to the condemned real estate vests in the condemnor and the rent herein reserved shall be apportioned and paid in full by Tenant to Landlord to that date and all rent prepaid for periods beyond that date shall forthwith be repaid by Landlord to Tenant and neither party shall thereafter have any liability hereunder.

Appears in 1 contract

Sources: Lease Amendment and Novation Agreement (Maxtor Corp)

Condemnation of Entire Premises. If all of the Premises --------------------------------- is taken or condemned for a public or quasi-public useuse (a sale in lieu of condemnation to be deemed a taking or condemnation), this Lease shall terminate as of the date title to the condemned real estate vests in the condemnor and the rent herein reserved shall be apportioned and paid in full by Tenant to Landlord to that date and all rent prepaid for periods beyond that date shall forthwith be repaid by Landlord to Tenant and neither party shall thereafter have any liability hereunderTenant.

Appears in 1 contract

Sources: Lease Agreement (Measurement Specialties Inc)