Common use of Condemnation of Property Clause in Contracts

Condemnation of Property. If any part of the Premises shall be taken by eminent domain, then the Term of this Lease shall terminate as to the portion of the Premises taken as of the date possession shall be adjusted as of the date of such termination. In the event a partial taking is not so extensive as to render the Premises unsuitable for the business of Tenant, this lease shall continue in effect as to such portion. In the event of any taking of the Premise, Tenant shall not be entitled to any part of the condemnation award, whether paid as compensation for diminution in value to the leasehold or to award. To the extent the amount recoverable by Owner is not diminished thereby, Tenant shall have the right to claim and recover from the condemning authority (but not from Owner) such compensation as may be separately awarded to Tenant in Tenant's own name and right on account on any damage to Tenant's business by reason of such taking.