Common use of Condemnation of Part Clause in Contracts

Condemnation of Part. In the event of a Condemnation Action affecting less than the whole or less than Substantially All of the Leased Premises, Tenant shall have the option to terminate this Lease by providing Landlord written notice thereof, within 90 days of receipt of such notice of the applicable Condemnation Action. To the extent Tenant does not take action to terminate this Lease, then the Term shall not be reduced or affected in any way, and the following provisions shall apply:

Appears in 2 contracts

Sources: Ground Lease Agreement, Economic Development Agreement