Common use of Condemnation Clause in Contracts

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 10 contracts

Sources: Standard Industrial/Commercial Single Tenant Lease (International Remote Imaging Systems Inc /De/), Standard Industrial/Commercial Single Tenant Lease Net (Bebe Stores Inc), Standard Industrial/Commercial Single Tenant Lease (Digitalthink Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisespremises, or more than twenty-five percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 9 contracts

Sources: Standard Industrial/Commercial Single Tenant Lease (Digital Entertainment Network Inc), Standard Industrial/Commercial Single Tenant Lease (Telocity Inc), Standard Industrial/Commercial Single Tenant Lease Net (TTM Technologies Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 9 contracts

Sources: Standard Industrial/Commercial Single Tenant Lease (Cii Financial Inc), Standard Industrial/Commercial Single Tenant Lease (Alphatec Holdings, Inc.), Standard Industrial/Commercial Single Tenant Lease (Alphatec Holdings, Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee’s Reserved Parking Spaces, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 9 contracts

Sources: Standard Industrial/Commercial Multi Tenant Lease (Organogenesis Holdings Inc.), Sublease Agreement (AltheaDx, Inc.), Sublease Agreement (AltheaDx, Inc.)

Condemnation. If In the event that State is unable to successfully contest the authority of any entity seeking to condemn the Premises or any portion thereof and if the entirety of the Premises are taken under by proper exercise of the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")domain, this Lease shall terminate as of the date possession was taken by said public authority pursuant to such condemnation. If any part of the Premises is so taken and, in the opinion of either State or Lessee, it is not economically feasible to continue this Lease, either party may terminate the lease. Such termination by either party shall be made by notice to the part taken other party given not later than thirty (30) days after possession is so taken, the termination to be effective as of the later of thirty (30) days after said notice or the date the condemning authority takes title or possession, whichever first occurspossession is so taken. If more than ten percent (10%) part of the Premises is so taken and neither State nor Lessee elects to terminate this Lease, or until termination is effective, as the case may be, the payment due under this Lease shall be abated in the same proportion as the portion of the Premises so taken bears to the whole of the Premises. All damages awarded for the taking or damaging of all or any building portion part of the Premises, or more than twentyState-five percent (25%) of the land area portion of the Premises not occupied by any buildingowned improvements thereon, is taken by Condemnation, Lessee may, at Lessee's option, shall belong to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be become the property of LessorState, whether and Lessee hereby disclaims and assigns to State any and all claims to such award shall be made as compensation for diminution in value of the leaseholdaward, the value of the part taken, or for severance damages; provided, however, that State will not claim any interest in any award for personal property or authorized improvements belonging to Lessee shall be entitled to as set forth in Section 3 and State will not claim a share of any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations award made to the Premises by Lessee, Lessee for purposes interruption of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any or damage to Lessee’s business or for moving expenses. The State may share in the Premises caused by such Condemnationvalue of crops in accordance with the crop division and/or additional payment set forth in Section 1.07.

Appears in 8 contracts

Sources: Lease Agreement, Dryland Cropshare Lease, Dryland Cropshare Lease

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisespremises, or more than twenty-five percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 8 contracts

Sources: Standard Industrial/Commercial Single Tenant Lease (Sugarmade, Inc.), Standard Industrial/Commercial Single Tenant Lease (Diversified Opportunities, Inc.), Standard Industrial/Commercial Single Tenant Lease Net (Troy Group Inc)

Condemnation. If the whole or any part of the Premises or any improvements thereon shall be taken or condemned by any competent authority for any public use or purpose during the term of this Lease, Tenant shall receive any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")any award allocable to crops on trees, this Lease shall terminate as its capital improvements, including orchards, to the part taken as cost or loss that Tenant may sustain in the removal and relocation of Tenant’s trade fixtures and other personal property, to Tenant’s anticipated or lost profits or damages because of detriment to Tenant’s business and to the date value of Tenant’s leasehold interest. Tenant reserves the condemning authority takes title right to claim and prosecute its claim in all appropriate courts and agencies for an award or possession, whichever first occurs. If more than ten percent (10%) damages based upon the foregoing without impairing any rights of any building portion Owner for the taking of or injury to its interest in the Premises, or more than twenty-five percent (25%) . The entire award for the fair market value of the land area portion taken shall be paid to Owner. No compromise or settlement shall be made of any condemnation award without the consent of, Owner, Tenant and any Mortgagee. If a part of the Premises not occupied by any buildingis taken or condemned which, in the sole judgment of Tenant, is taken by Condemnationsufficient to render the remaining portion unsuitable for continued use or occupancy, Lessee may, at Lessee's option, to be exercised in writing then Tenant may within ten sixty (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (1060) days after the date when possession of the Premises or portion thereof shall be required by the condemning authority shall have taken possession) authority, elect to terminate this Lease as of Lease. In the date the condemning authority takes such possession. If Lessee does not event that Tenant shall fail to exercise its option to terminate this Lease in accordance with the foregoingLease, then this Lease shall remain continue in full force and effect as with respect to the portion of the Premises remainingnot so taken, except that the Base Rent rent otherwise payable shall be reduced in proportion to the reduction percentage of planted acreage in utility of the Premises caused taken by such Condemnationthe condemning authority. Condemnation awards and/or payments If no planted acreage is taken then the rent shall not be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated reduced by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnationtaking.

Appears in 6 contracts

Sources: Agricultural Land Lease (Limoneira CO), Agricultural Land Lease (Limoneira CO), Agricultural Land Lease (Limoneira CO)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee▇▇▇▇▇▇'s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee▇▇▇▇▇▇, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 5 contracts

Sources: Industrial/Commercial Multi Tenant Lease (Liquidmetal Technologies Inc), Standard Multi Tenant Office Lease (America Great Health), Standard Multi Tenant Office Lease (America Great Health)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the PremisesBuilding, or more than twenty-five percent (25%) % of the land area that portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 5 contracts

Sources: Standard Industrial/Commercial Single Tenant Lease Net (Wesco Aircraft Holdings, Inc), Standard Industrial/Commercial Single Tenant Lease Net (Wesco Aircraft Holdings, Inc), Lease Agreement (Wesco Aircraft Holdings, Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the PremisesBuilding, or more than twenty-five percent (25%) % of the land area that portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 4 contracts

Sources: Standard Industrial/Commercial Single Tenant Lease Net (Glass House Brands Inc.), Lease Agreement (Hancock Jaffe Laboratories, Inc.), Standard Industrial/Commercial Single Tenant Lease Net (AutoGenomics, Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the PremisesBuilding, or more than twenty-five percent (25%) % of the land area that portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 4 contracts

Sources: Standard Industrial/Commercial Single Tenant Lease, Asset Purchase Agreement (Item 9 Labs Corp.), Industrial/Commercial Lease

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee's Reserved Parking Spaces, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 4 contracts

Sources: Standard Industrial/Commercial Multi Tenant Lease (Essxsport Corp), Standard Industrial/Commercial Multi Tenant Lease (Essxsport Corp), Lease Termination and New Lease Agreement (Amistar Corp)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after aGer Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after aGer the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 4 contracts

Sources: Lease Agreement, Standard Industrial/Commercial Multi Tenant Lease Net, Standard Industrial/Commercial Multi Tenant Lease Gross

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 3 contracts

Sources: Standard Industrial/Commercial Multi Tenant Lease Net (Cue Health Inc.), Lease Agreement (Cue Health Inc.), Standard Industrial/Commercial Multi Tenant Lease Gross (Vincera Pharma, Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion Premises, or more than thirty-five percent (35%) of the Premises not occupied by any building, parking is taken by Condemnation, Lessee Tenant may, at Lessee's Tenant’s option, to be exercised in writing within ten (10) days after Lessor Landlord shall have given Lessee Tenant written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee Tenant does not timely terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of LessorLandlord, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor Landlord shall repair any damage to the Premises caused by such CondemnationCondemnation to the extent of any proceeds actually received by Landlord.

Appears in 3 contracts

Sources: Lease (Globeimmune Inc), Lease (Globeimmune Inc), Lease (Replidyne Inc)

Condemnation. If there shall be taken during the Lease Term any part of the Leased Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")Building, this Lease shall terminate as Lessor may elect to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate or to continue this Lease in accordance with effect. If Lessor elects to continue the foregoingLease, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility area of the Leased Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations so taken and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the remainder of the Leased Premises caused or the Building resulting from such taking, but in no event shall Lessor be required to spend thereon more than the amount of the award received by Lessor by reason of such Condemnationtaking and allocable thereto. All sums awarded or agreed upon between Lessor and the condemning authority for the taking of the interest of Lessor or Lessee, whether as damages or as compensation, shall be the property of Lessor. If, following any such condemnation, Lessee reasonably determines that the portion of the Leased Premises or the Building remaining after such condemnation is not sufficient to enable Lessee to continue the normal operation of its business as then conducted in the Leased Premises, Lessee shall have the right to terminate this Lease by giving written notice of termination to Lessor within thirty (30) days after Lessee receives notice of such condemnation, which notice shall be effective to terminate this Lease upon the date on which physical possession of the Leased Premises (or such portion thereof) is taken by the condemning authority. If this Lease is terminated under any provision of this Section 14, Rent shall be payable up to the date that possession is taken by the condemning authority and Lessor shall refund to Lessee any prepaid unaccrued Rent less any sums then owing by Lessee to Lessor.

Appears in 3 contracts

Sources: Lease Agreement (Skillsoft Public Limited Co), Lease Agreement (Skillsoft Public Limited Co), Lease Agreement (Skillsoft Public Limited Co)

Condemnation. If the Premises Premises, or any portion part thereof or the whole or any part of the building of which they are a part shall be taken under for any purpose by exercise of the power of eminent domain or sold under condemnation, or by action of the threat city or other authorities or shall receive any direct or consequential damages for which the Lessor or Lessee shall be entitled to compensation by reason of anything lawfully done in pursuance of any public authority after the execution hereof and during said Term, or any extension or renewal thereof, then at the option of either the Lessor or the Lessee, this Lease and said Term shall be terminated and such option may be exercised in the case or any such taking notwithstanding the entire interest of the Lessor and the Lessee may have been divested by such taking. Said option to terminate shall be exercised by either the Lessor or the Lessee, by giving written notice to exercise such option to terminate in the manner described in Section 26 of this Lease. Said option to terminate shall not be exercised by either party (a) earlier than the effective date of taking nor (b) later than thirty (30) days after the effective date of taking. The mailing of the notice of exercise as set forth hereinabove shall be deemed to be the exercise of said power (collectively "CONDEMNATION")option; and upon the giving of such notice, this Lease shall terminate as to the part taken be terminated as of the date of the condemning authority takes title or possession, whichever first occurstaking. If more than ten percent (10%) this Lease and said Term are not to be terminated, then in case of any building portion such taking or destruction or damage to the Premises, rendering the same or any part thereof unfit for use and occupation, a just proportion of the rent hereintofore reserved, according to the nature and extent of the damage to the Premises, shall be suspended or abated until in the case of such taking, what may remain of the Premises, shall have been put in proper condition for use and occupation. The Lessee hereby assigns to the Lessor any and all claims and demands for damages on account any such taking or more than twenty-five percent (25%) for compensation for anything lawfully done in pursuance of any public authority and covenants with the land area portion Lessor that the Lessee will from time to time execute and deliver to the Lessor such further instruments of assignment of any such claims and demands as the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; request provided, however, that the Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or does not this Lease is terminated pursuant assign to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises Lessor any claim based upon ▇▇▇▇▇▇'s personal property or other improvements installed by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnationwith ▇▇▇▇▇▇'s written permission.

Appears in 3 contracts

Sources: Residential Lease, Residential Lease, Residential Lease

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the rentable floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee's Reserved Parking Spaces, is if any, are taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 3 contracts

Sources: Standard Multi Tenant Office Lease (Newave Inc), Standard Multi Tenant Office Lease (Newave Inc), Standard Multi Tenant Office Lease (Eye Dynamics Inc)

Condemnation. If In the Premises event of any condemnation of all or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")Property, this Lease Agreement shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occursoccurs first. If more than ten percent (10%) as a result of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion a partial condemnation of the Premises not occupied by any buildingor Property, LESSEE, in LESSEE’s sole discretion, is taken by Condemnationunable to use the Premises for the purposes intended hereunder, Lessee or if such condemnation may reasonably be expected to disrupt LESSEE's operations at the Premises for more than forty-five (45) days, LESSEE may, at Lessee's LESSEE’s option, to be exercised in writing within ten fifteen (1015) days after Lessor LESSOR shall have given Lessee LESSEE written notice of such taking (or in the absence of such notice, within ten fifteen (1015) days after the condemning authority shall have taken possession) terminate this Lease Agreement as of the date the condemning authority takes such possession. LESSEE may on its own behalf make a claim in any condemnation proceeding involving the Premises for losses related to the equipment, conduits, fixtures, its relocation costs and its damages and losses (but not for the loss of its leasehold interest). Any such notice of termination shall cause this Agreement to expire with the same force and effect as though the date set forth in such notice were the date originally set as the expiration date of this Agreement and the Parties shall make an appropriate adjustment as of such termination date with respect to payments due to the other under this Agreement. If Lessee LESSEE does not terminate this Lease Agreement in accordance with the foregoing, this Lease Agreement shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in the same proportion to as the reduction in utility rentable area of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be taken bears to the property of Lessor, whether such award shall be made as compensation for diminution in value total rentable area of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforPremises. In the event that this Lease Agreement is not terminated by reason of the Condemnationsuch condemnation, Lessor LESSOR shall promptly repair any damage to the Premises caused by such Condemnationcondemning authority.

Appears in 3 contracts

Sources: Land Lease Agreement, Land Lease Agreement, Land Lease Agreement

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain domain, or sold under the threat of the exercise of said power (collectively "CONDEMNATION"all of which are herein called “condemnation”), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the floor area of the improvements on the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises which is not occupied by any buildingimprovements, is taken by Condemnationcondemnation, Lessee may, at Lessee's ’s option, to be exercised in writing only within ten (10) days after Lessor shall have given Lessee written notice of such taking (or nor in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in the proportion that the floor area taken bears to the reduction in utility total floor area of the building situated on the Premises. Any award for taking of all or any part of the Premises caused by under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, leasehold or for the value taking of the part takenfee, or for as severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnationsuch condemnation, Lessor shall shall, to the extent of severance damages received by Lessor in connection with such condemnation, repair any damage to the Premises caused by such Condemnationcondemnation except to the extent that Lessee has been reimbursed therefor by the condemning authority. Lessee shall pay any amount in excess of such severance damages required to complete such repair.

Appears in 3 contracts

Sources: Lease (Local Matters Inc.), Lease Agreement (Local Matters Inc.), Lease (Local Matters Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisesbuilding, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 3 contracts

Sources: Standard Industrial/Commercial Single Tenant Lease (Telocity Inc), Standard Industrial/Commercial Single Tenant Lease (Telocity Inc), Lease Agreement (Javelin Systems Inc)

Condemnation. If the Premises all or any portion thereof are taken of the Leased Premises is the subject of a taking under the power of eminent domain or sold under by any legally constituted authority, Landlord will give Client immediate notice thereof. In the threat event of the exercise a partial taking where there remains a sufficient amount of said power (collectively "CONDEMNATION")space to permit Client to carry on its business in a manner comparable to that which it has become accustomed, then this Lease shall terminate as continue, but the obligation to pay rent on the part of Client shall be reduced in an amount proportionate to the part taken as square footage of the date entire Leased Premises relative to the condemning authority takes title or possession, whichever first occurssquare footage taken by such condemnation. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, neither Client nor Landlord elects to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoingevent of a partial taking, this Lease shall remain in full force Landlord will make the repairs and effect as alterations to the Leased Premises necessary to constitute the remaining portion of the Premises remaining, except that Building as a whole architectural unit as soon as practicable and the Base Rent shall be reduced ▇▇▇▇▇ entirely during any period of such restoration and thereafter in proportion to the reduction in utility area of the Leased Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part so taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event all of the Leased Premises shall be taken, or so much of the Leased Premises taken that it is not feasible to continue a reasonably satisfactory operation of the business of Client, then Client shall have the option of terminating this Lease is not terminated by reason within thirty (30) days’ after the date of the Condemnation, Lessor such notice. Such termination shall repair any damage be without prejudice to the Premises rights of either Landlord or Client to recover compensation from the condemning authority for any loss or damage caused by such Condemnationcondemnation, and Client will not share in the proceeds of any condemnation award except as to an award made to Client for cost of moving, loss of business, and trade fixtures. Neither Landlord nor Client shall have any right in or to any award made to the other by the condemning authority.

Appears in 3 contracts

Sources: Master Lease, Master Lease, Master Lease

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 3 contracts

Sources: Sublease Agreement (Masimo Corp), Standard Industrial/Commercial Single Tenant Lease (Dolby Laboratories, Inc.), Lease Agreement (Dolby Laboratories, Inc.)

Condemnation. If In the event that all or any portion of the Premises shall be damaged or taken through condemnation (which term shall include any damage or taking by any governmental authority, quasi-governmental authority, any party having the power of condemnation, or any transfer by private sale in lieu thereof), or any such condemnation shall be threatened, Borrower shall give prompt written notice to Lender. Lender acknowledges that Owner’s rights to any condemnation award is subject to the terms of the Mortgage. Notwithstanding the foregoing, Borrower may not and shall not permit Owner to settle or compromise any claim, action or proceeding relating to such damage or condemnation without the prior written consent of Lender, which shall not be unreasonably withheld, delayed or denied; provided, further, that Owner may settle, adjust and compromise any such claim, action or proceeding which is of an amount less than $250,000 provided no Event of Default has occurred. Any proceeds remaining after the application of any award to reconstruct or repair the Premises or any portion thereof are taken under to the power of eminent domain or sold under the threat payment of the exercise of said power (collectively "CONDEMNATION"), this Lease Mortgage Loan shall terminate as be paid to Lender and applied to the part taken as payment of the date Debt whether or not then due. In the condemning authority takes title event that Owner is permitted pursuant to the terms of the Mortgage to reconstruct, restore or possession, whichever first occurs. If more than ten percent (10%) repair the Premises following a condemnation of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of Borrower shall cause Owner to promptly and diligently repair and restore the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, manner and within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of time periods required by the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leaseholdMortgage, the value of Leases and any other agreements affecting the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforPremises. In the event that this Lease Owner is not terminated by reason permitted pursuant to the terms of the CondemnationMortgage to elect not to reconstruct, Lessor shall restore or repair any damage to the Premises caused by such Condemnationfollowing a condemnation of any portion of the Premises, Borrower shall not permit Owner to elect not to reconstruct, restore or repair the Premises without the prior written consent of Lender.

Appears in 3 contracts

Sources: Loan and Security Agreement (Morgans Hotel Group Co.), Loan and Security Agreement (Morgans Hotel Group Co.), Loan and Security Agreement (Morgans Hotel Group Co.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain domain, or sold under the threat of the exercise of said power (collectively all of which are herein called "CONDEMNATIONcondemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the floor area of the improvements on the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises which is not occupied by any buildingimprovements, is taken by Condemnationcondemnation, Lessor or Lessee may, at Lesseeeither party's option, to be exercised in writing only within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date of the condemning authority takes such possession. If Lessee does not terminate neither party terminates this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in proportion that the floor area taken bears to the reduction in utility total floor area of the building situated on the Premises. Any award for the taking of all or any part of the Premises caused by under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, leasehold or for the value taking of the part takenfee, or for as severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnationsuch condemnation, Lessor shall shall, to the extent of severance damages received by Lessor in connection with such condemnation, repair any damage to the Premises caused by such Condemnationcondemnation except to the extent that Lessee has been reimbursed therefor by the condemning authority. Lessee shall pay any amount in excess of such severance damages required to complete such repair.

Appears in 2 contracts

Sources: Commercial Lease Agreement (Digital Domain), Commercial Lease Agreement (Digital Domain)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the this condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) 20% of the land area portion of the Premises not occupied by any buildingLessee's Reserved Parking Spaces, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused cause by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for LesseeLessor's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefortherefore. In IN the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Standard Industrial/Commercial Multi Tenant Lease (Ironclad Performance Wear Corp), Lease Agreement (Ironclad Performance Wear Corp)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the rentable floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee's Reserved Parking Spaces, is if any, are taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemner for Lessee▇▇▇▇▇▇'s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee▇▇▇▇▇▇, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefortherefore. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Standard Multi Tenant Office Lease (America Great Health), Standard Multi Tenant Office Lease (America Great Health)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"all of which are herein called “Condemnation”), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingCommon Areas designated for Tenant’s parking, is taken by Condemnationcondemnation, Lessee Tenant may, at Lessee's Tenant’s option, to be exercised in writing within ten (10) 10 days after Lessor Landlord shall have given Lessee Tenant written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) ), terminate this Lease as of the date the condemning authority takes such possession. If Lessee Tenant does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in the same proportion to as the reduction in utility rentable floor area of the Premises caused by taken bears to the total rentable floor area of the Premises. No reduction of Base Rent shall occur if the condemnation does not apply to any portion of the Premises. Any award for the taking of all or any part of the Premises under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damagesLandlord; provided, however, that Lessee Tenant shall be entitled to any compensation compensation, separately awarded to Tenant, for Lessee's Tenant’s relocation expenses, expenses and/or loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforTenant’s trade fixtures. In the event that this Lease is not terminated by reason of such condemnation, Landlord shall to the Condemnationextent of its net severance damages in the condemnation matter, Lessor shall repair any damage to the Premises caused by such Condemnationcondemnation authority.

Appears in 2 contracts

Sources: R&d Lease (Harmonic Inc), Industrial Lease (Foxhollow Technologies, Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisesbuilding, or more than twenty-five percent (25percent(25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Standard Industrial/Commercial Single Tenant Lease Net (Future Media Productions), Standard Industrial/Commercial Single Tenant Lease Net (Future Media Productions)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain domain, or sold under the threat of the exercise of said power (collectively "CONDEMNATION"all of which are herein called “condemnation”), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the floor area of the improvements on the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises which is not occupied by any buildingimprovements, is taken by Condemnationcondemnation, Lessor or Lessee may, at Lessee's either party’s option, to be exercised in writing only within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date of the condemning authority takes such possession. If Lessee does not terminate neither party terminates this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in proportion that the floor area taken bears to the reduction in utility total floor area of the building situated on the Premises. Any award for the taking of all or any part of the Premises caused by under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, leasehold or for the value taking of the part takenfee, or for as severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnationsuch condemnation, Lessor shall shall, to the extent of severance damages received by Lessor in connection with such condemnation, repair any damage to the Premises caused by such Condemnationcondemnation except to the extent that Lessee has been reimbursed therefore by the condemning authority. Lessee shall pay any amount in excess of such severance damages required to complete such repair.

Appears in 2 contracts

Sources: Commercial Lease Agreement (Digital Domain Media Group, Inc.), Commercial Lease Agreement (Digital Domain)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for value of leasehold, Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Standard Industrial/Commercial Single Tenant Lease Net (Somnus Medical Technologies Inc), Standard Industrial/Commercial Single Tenant Lease (Graphon Corp/De)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the floor area of the Premises, Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemn or for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Lease Agreement (Social Capital Suvretta Holdings Corp. I), Standard Industrial/Commercial Multi Tenant Lease Gross (Social Capital Suvretta Holdings Corp. I)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain domain, or sold under the threat of the exercise of said power (collectively all of which are herein called "CONDEMNATIONcondemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any the floor area of the building portion of on the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises which is not occupied by any building, is taken by Condemnationcondemnation, Lessee may, at Lessee's option, to be exercised in writing only within ten (10910) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in the proportion that the floor area of the building taken bears to the reduction in utility total floor area of the building situation on the Premises. (#8) Any award for the taking of all or any part of the Premises caused by under the power of eminent domain or any payment made under the threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, leasehold or for the value taking of the part takenfee, or for as severance damages; provided, however, that Lessee shall be entitled to any compensation award for loss of or damage to Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations trade fixtures and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforremovable personal property. In the event that this Lease is not terminated by reason of the Condemnationsuch condemnation, Lessor shall to the extent of severance damages received by Lessor in connection with such condemnation, repair any damage to the Premises caused by such Condemnationcondemnation except to the extent that Lessee has been reimbursed therefor by the condemning authority. Lessee shall pay any amount in excess of such severance damages required to complete such repair.

Appears in 2 contracts

Sources: Standard Industrial Lease (Park Electrochemical Corp), Standard Industrial Lease (Park Electrochemical Corp)

Condemnation. If In the Premises event of any condemnation of all or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")Premises, this Lease Agreement shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occursoccurs first. If more than ten percent (10%) as a result of any building portion a partial condemnation of the Premises, Lessee, in Lessee’s discretion, is unable to use the Premises for the purposes intended hereunder, or if such condemnation may reasonably be expected to disrupt Lessee’s operations at the Premises for more than twentyforty-five percent (25%45) of the land area portion of the Premises not occupied by any building, is taken by Condemnationdays, Lessee may, at Lessee's ’s option, to be exercised in writing within ten fifteen (1015) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten fifteen (1015) days after the condemning authority shall have taken possession) terminate this Lease Agreement as of the date the condemning authority takes such possession. Lessee may on its own behalf make a claim in any condemnation proceeding involving the Premises for losses related to the equipment, conduits, fixtures, its relocation costs and its damages and losses. Any such notice of termination shall cause this Agreement to expire with the same force and effect as though the date set forth in such notice were the date originally set as the expiration date of this Agreement and the Parties shall make an appropriate adjustment as of such termination date with respect to payments due to the other under this Agreement. If Lessee does not terminate this Lease Agreement in accordance with the foregoing, this Lease Agreement shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in the same proportion to as the reduction in utility rentable area of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be taken bears to the property of Lessor, whether such award shall be made as compensation for diminution in value total area of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforPremises. In the event that this Lease Agreement is not terminated by reason of the Condemnationsuch condemnation, Lessor shall promptly repair any damage to the Premises caused by such Condemnationcondemning authority.

Appears in 2 contracts

Sources: Lease Agreement (ARC Group Worldwide, Inc.), Lease Agreement

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If , it more than ten percent (10%) of any building portion of the Premisesbuilding, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leaseholdhousehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for LesseeLessor's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or or, not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Standard Industrial/Commercial Single Tenant Lease Net (SMTC Corp), Lease Agreement (SMTC Corp)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, Building or more than twenty-five percent (25%) of the land area any portion of the parking area exclusively serving the Premises not occupied by any building, is taken by Condemnation, or if such taking renders the Premises unusable in Lessee’s reasonable discretion, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, (i) this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion by an amount bearing the same ratio to the reduction in utility total amount of Base Rent as the portion of the Building that is taken by such Condemnation bears to the entire Building and (ii) Lessor shall restore, at Lessor’s sole cost and expense, the portion of the Premises caused by that have not been taken to a condition such Condemnationthat Lessee can reasonably conduct its business in substantially the same manner as prior to such taking. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Lease (SeaSpine Holdings Corp), Lease Agreement (SeaSpine Holdings Corp)

Condemnation. If In the Premises event of any condemnation of all or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")Property, this Lease Agreement shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occursoccurs first. If more than ten percent (10%) as a result of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion a partial condemnation of the Premises not occupied by any buildingor Tower, LESSEE, in LESSEE’s sole discretion, is taken by Condemnationunable to use the Premises for the purposes intended hereunder, Lessee or if such condemnation may reasonably be expected to disrupt LESSEE's operations at the Premises for more than forty-five (45) days, LESSEE may, at Lessee's LESSEE’s option, to be exercised in writing within ten fifteen (1015) days after Lessor LESSOR shall have given Lessee LESSEE written notice of such taking (or in the absence of such notice, within ten fifteen (1015) days after the condemning authority shall have taken possession) terminate this Lease Agreement as of the date the condemning authority takes such possession. LESSEE may on its own behalf make a claim in any condemnation proceeding involving the Premises for losses related to the equipment, conduits, fixtures, its relocation costs and its damages and losses (but not for the loss of its leasehold interest). Any such notice of termination shall cause this Agreement to expire with the same force and effect as though the date set forth in such notice were the date originally set as the expiration date of this Agreement and the Parties shall make an appropriate adjustment as of such termination date with respect to payments due to the other under this Agreement. If Lessee LESSEE does not terminate this Lease Agreement in accordance with the foregoing, this Lease Agreement shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in the same proportion to as the reduction in utility rentable area of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be taken bears to the property of Lessor, whether such award shall be made as compensation for diminution in value total rentable area of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforPremises. In the event that this Lease Agreement is not terminated by reason of the Condemnationsuch condemnation, Lessor LESSOR shall promptly repair any damage to the Premises caused by such Condemnationcondemning authority.

Appears in 2 contracts

Sources: Water Tower Lease Agreement, Lease Agreement

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after aGer Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after aGer the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Lease Agreement, Standard Industrial/Commercial Multi Tenant Lease Net

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the rentable floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee’s Reserved Parking Spaces, is if any, are taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Standard Multitenant Office Lease (Unico American Corp), Standard Multi Tenant Office Lease (Genoptix Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the rentable floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee’s Reserved Parking Spaces, is if any, are taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Standard Multi Tenant Office Lease (1st Century Bancshares, Inc.), Standard Multi Tenant Office Lease (Coast Bancorp/Ca)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion 25% of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee Tenant may, at Lessee's Tenant’s option, to be exercised in writing within ten (10) days after Lessor Landlord shall have given Lessee Tenant written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee Tenant does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of LessorLandlord, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee Tenant shall be entitled to any compensation paid by the condemnor for Lessee's Tenant’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this ParagraphArticle 14. All Alterations and Utility Installations made to the Premises by LesseeTenant, for purposes of Condemnation only, shall be considered the property of the Lessee Tenant and Lessee Tenant shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor Landlord shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Commercial Lease (NantKwest, Inc.), Commercial Lease (NantKwest, Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at LesseeL▇▇▇▇▇'s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee L▇▇▇▇▇ does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for LesseeL▇▇▇▇▇'s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by LesseeL▇▇▇▇▇, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Lease Agreement (Ceribell, Inc.), Lease Agreement (Ceribell, Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisespremises, or more than twenty-five percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixturesfixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Standard Industrial/Commercial Single Tenant Lease (Dippy Foods Inc), Standard Industrial/Commercial Single Tenant Lease (Dippy Foods Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisespremises, or more than twenty-five percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Lease Agreement (Equinix Inc), Lease Agreement (Equinix Inc)

Condemnation. If the Premises Premises, or any portion part thereof or the whole or any part of the building of which they are a part shall be taken under for any purpose by exercise of the power of eminent domain or sold under condemnation, or by action of the threat city or other authorities or shall receive any direct or consequential damages for which the Lessor of Lessee shall be entitled to compensation by reason of anything lawfully done in pursuance of any public authority after the execution hereof and during said Term, or any extension or renewal thereof, then at the option of either the Lessor or the Lessee, this Lease and said Term shall be terminated and such option may be exercised in the case or any such taking notwithstanding the entire interest of the Lessor and the Lessee may have been divested by such taking. Said option to terminate shall be exercised by either the Lessor or the Lessee, by giving written notice to exercise such option to terminate in the manner described in Section 26 of this Lease. Said option to terminate shall not be exercised by either party (a) earlier than the effective date of taking nor (b) later than thirty (30) days after the effective date of taking. The mailing of the notice of exercise as set forth hereinabove shall be deemed to be the exercise of said power (collectively "CONDEMNATION")option; and upon the giving of such notice, this Lease shall terminate as to the part taken be terminated as of the date of the condemning authority takes title or possession, whichever first occurstaking. If more than ten percent (10%) this Lease and said Term are not to be terminated, then in case of any building portion such taking or destruction or damage to the Premises, rendering the same or any part thereof unfit for use and occupation, a just proportion of the rent hereintofore reserved, according to the nature and extent of the damage to the Premises, shall be suspended or abated until in the case of such taking, what may remain of the Premises, shall have been put in proper condition for use and occupation. The Lessee hereby assigns to the Lessor any and all claims and demands for damages on account any such taking or more than twenty-five percent (25%) for compensation for anything lawfully done in pursuance of any public authority and covenants with the land area portion Lessor that the Lessee will from time to time execute and deliver to the Lessor such further instruments of assignment of any such claims and demands as the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; request provided, however, that the Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or does not this Lease is terminated pursuant assign to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises Lessor any claim based upon ▇▇▇▇▇▇'s personal property or other improvements installed by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnationwith ▇▇▇▇▇▇'s written permission.

Appears in 2 contracts

Sources: Residential Lease, Residential Lease

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's L▇▇▇▇▇’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by LesseeL▇▇▇▇▇, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Lease Agreement (Brownie's Marine Group, Inc), Lease Agreement (Brownie's Marine Group, Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and end Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Standard Industrial/Commercial Multi Tenant Lease Gross, Standard Industrial/Commercial Multi Tenant Lease Gross (Zoned Properties, Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the PremisesBuilding, or more than twenty-five percent (25%) % of the land area that portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Standard Industrial/Commercial Single Tenant Lease (Amistar Corp), Purchase and Sale Agreement (Amistar Corp)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the rentable floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee’s Reserved Parking Spaces, is if any, are taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation or for diminution in value of the leasehold, the value of the part taken, taken or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expensesexpense, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Standard Multi Tenant Office Lease, Office Lease

Condemnation. If the Premises shall be condemned or taken in its entirety for a public or quasi-public use, all compensation therefore shall be paid to Mortgagee to be used to pay the Mortgage as provided in the Mortgage and any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")remaining funds will be divided between Lessor and Lessee, and this Lease and all obligations hereunder shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occursof taking. If more than ten percent only a portion of the Premises shall be condemned or taken for a public or quasi-public use, any and all awards or compensation arising from such condemnation or taking shall be paid to Mortgagee subject to the terms of the Mortgage, and this Lease shall continue without modification, unless and except that if so much or such portion of the Premises be taken that the taking shall materially interfere with the efficient operation of its business by Lessee on the Premises, the judgment of Lessee as to the materiality of such interference being conclusive, then at any time within sixty (10%60) days after the taking of any building such portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied Lessee may terminate this Lease by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after serving upon Lessor shall have given Lessee written notice of such taking (or in its intention to do so. In the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate event this Lease is so terminated, then any and all awards or compensation arising from such condemnation or taking shall be paid jointly to Lessor and Lessee subject to the terms of the Mortgage, and all obligations hereunder shall cease as of the date of such termination and any funds remaining after the payment of the Mortgage shall be divided between the Lessor and Lessee. Nothing contained herein shall be construed to preclude Lessee from prosecuting any claim directly against the condemning authority takes in such possession. If Lessee does not terminate this Lease in accordance with the foregoingcondemnation proceedings for loss of business, this Lease shall remain in full force and effect as to the portion or depreciation to, damage to, or cost of the Premises remainingremoval of, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation or for diminution in value of the leasehold, the value of the part takenits leasehold interest, or for severance damages; providedstock, howevertrade fixtures, that Lessee shall be entitled furniture and other personal property belonging to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Lease Agreement (Centennial Healthcare Corp), Lease Agreement (Centennial Healthcare Corp)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Standard Industrial/Commercial Multi Tenant Lease Net (International Stem Cell CORP), Standard Industrial/Commercial Multi Tenant Lease Gross

Condemnation. Notwithstanding anything contained in this Lease to the contrary, if the whole or any part of the Demised Premises is taken or condemned by any competent authority for any public use or purpose during the term or any extension of this Lease, Landlord reserves unto itself the right to claim and prosecute its claim in all appropriate courts and agencies for an award or damages for such taking based upon its sole interest and ownership of buildings, alterations and improvements on the Demised Premises without Tenant participating in the award. If (a) access to the Demised Premises or any portion thereof are taken under the power of eminent domain or sold under the threat (b) more than 25% of the exercise of said power (collectively "CONDEMNATION")Demised Premises, this Lease shall terminate be taken or condemned so as to render the part taken as remaining portion unsuitable for the continued use or occupancy of the date the condemning authority takes title or possessionTenant, whichever first occurs. If more than ten percent then Tenant may within a period thirty (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (1030) days after the date when possession of the Demised Premises shall be required by the condemning authority shall have taken possession) authority, elect to terminate this Lease as of Lease. In the date the condemning authority takes such possession. If Lessee does not event that Tenant shall fail to exercise this option to terminate this Lease in accordance with the foregoingLease, then this Lease shall remain continue in full force and effect as with respect to the portion of the Demised Premises remaining, except that the Base Rent not so taken and such remaining portion shall be reduced in proportion deemed to be the reduction in utility Demised Premises for the balance of the term of the Lease. Tenant will, with all due diligence and at its own cost and expense, repair and restore the Demised Premises caused by or what may remain of it to its former condition, provided that such Condemnationtaking or condemnation does not occur within the last nine (9) months of the Term of the Lease or any renewal term thereof. Condemnation awards and/or payments There shall be no abatement in the property payment of Lessor, whether such award shall be made as compensation Rent for diminution in value of the leasehold, period prior to Tenant’s election to terminate and vacating the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such CondemnationPremises.

Appears in 2 contracts

Sources: Lease Agreement (Bway Corp), Lease Agreement (Bway Corp)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Temporary Library Lease Agreement, Lease Agreement

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%25I) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 2 contracts

Sources: Standard Industrial/Commercial Single Tenant Lease (Nextest Systems Corp), Standard Industrial/Commercial Single Tenant Lease (Nextest Systems Corp)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first first occurs. If more than ten percent (10%) % of any building portion the rentable floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee's Reserved Parking Spaces, is if any, are taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after aGer Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after aGer the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Standard Multi Tenant Office Lease Net

Condemnation. If the Premises or any portion Portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease (Variflex Inc)

Condemnation. If In the event of any condemnation proceeding in which all or any part of the Premises or is taken (by a condemner other than the Landlord), Tenant and Landlord shall have the right to participate in any portion thereof are taken under such condemnation proceedings and all compensation from such proceeding shall be shared by T▇▇▇▇▇ and Landlord as follows: Landlord shall be entitled to claim and recover from the power of eminent domain or sold under condemning authority the threat value of the exercise fee estate, Tenant shall receive that portion of said power (collectively "CONDEMNATION")the award as represents the value of the leasehold estate created by this Agreement and Landlord shall be entitled to receive the remainder of the award. In the event of a partial taking that leaves Tenant with a sufficient remaining portion such that Tenant can utilize the Premises for the Permitted Use, Landlord shall reduce the Rent payable by Tenant on a pro rata basis for the portions of the Premises taken. If, however, the Premises is rendered unusable for the Permitted Use, in Tenant’s reasonable discretion, Tenant may terminate this Lease by giving Landlord a written notice of termination, and this Lease shall terminate as to at the part taken as of time specified in the notice (which shall not be less than thirty (30) days after the date the condemning authority takes title or possession, whichever first occursof such notice). If more than ten percent (10%) of a partial taking does not include any building portion of the Premises, Improvements or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any buildingreasonably necessary for the conduct of Tenant’s operations, is taken by Condemnation, Lessee may, at Lessee's option, to the entire award shall be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as paid to the portion Landlord and Landlord shall reduce the Rent payable by Tenant on a pro rata basis for the portions of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Lease Agreement (Sky Harbour Group Corp)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the rentable floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee's Reserved Parking Spaces, is if any, are taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemner for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Standard Multi Tenant Office Lease (America Great Health)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee’s Reserved Parking Spaces, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such CondemnationCondemnation within a commercially reasonable period of time.

Appears in 1 contract

Sources: Standard Industrial/Commercial Multi Tenant Lease (Quantum Fuel Systems Technologies Worldwide Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisespremises, or more than twenty-five percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises Promises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnationcondemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Lease Agreement (Etoys Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the rentable floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee's Reserved Parking Spaces, is if any, are taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemner for Lessee▇▇▇▇▇▇'s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee▇▇▇▇▇▇, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Standard Multi Tenant Office Lease (America Great Health)

Condemnation. If the Premises or any portion thereof are taken under by the power of eminent domain domain, or sold by Landlord under the threat of the exercise of said power (collectively all of which is herein referred to as "CONDEMNATIONcondemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occursoccurs first. If more than ten twenty percent (1020%) of the floor area of any building portion of on the Premises, or more than twenty-five twenty percent (2520%) of the land area portion of the Premises not occupied by any building, covered with buildings is taken by Condemnationcondemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (either Landlord or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) Tenant may terminate this Lease as of the date the condemning authority takes possession, by notice in writing of such election within twenty (20) days after Landlord shall have notified Tenant of such taking or, in the absence of such notice, then within twenty (20) days after the condemning authority shall have taken possession. If Lessee does not terminate this Lease in accordance with the foregoingis not terminated by either Landlord or Tenant as provided hereinabove, this Lease then it shall remain in full force and effect as to the portion of the Premises remaining, except provided that the Base Rent rental shall be reduced in proportion to the reduction in utility floor area of the building taken within the Premises caused by such Condemnationas bears to the total floor area of all buildings located on the Premises to a complete unit of like quality and character as existed prior to the condemnation. Condemnation awards and/or payments Rent shall be abated or reduced during the property period from the date of Lessortaking until the completion of restoration by Landlord, whether such award but all other obligations of Tenant under this Lease shall remain in full force and effect. The abatement or reduction of the rent shall be made as compensation for diminution in value based on the extent to which the restoration interferes with Tenant's use of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such CondemnationPremises.

Appears in 1 contract

Sources: Lease (Herbst Gaming Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisespremises, or more than twenty-five percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in the same proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage damages to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease (Burke Flooring Products Inc)

Condemnation. a. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"collectively, “Condemnation”), this the Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this The Lease shall otherwise remain in full force and effect as to the portion of the Premises remainingremaining (the “Remaining Premises”); provided, except however, that the Base Remaining Premises is, in Lessee’s sole and absolute judgment, fit and suitable for the Agree Use by Lessee; provided, further, that the Rent shall be reduced in proportion adjusted based on the square footage of the Remaining Premises, such adjustment to be effective as of the date the condemning authority takes title or possession to the reduction in utility Condemned portion of the Premises caused by such CondemnationPremises, whichever first occurs. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages. b. Lessee may file a separate claim with the condemning authority for moving expenses and damage or loss of Lessee’s business, if any, as a result of the Condemnation; provided, however, that Lessee such claim shall not, in Lessor’s reasonable judgment, in any way diminish or lessen the value of the condemnation awards and/or payments payable to Lessor under Paragraph 14(a). Notwithstanding anything to the contrary stated or implied herein, in no event shall Lessor be entitled to liable for, or be held on account of, any compensation for Lessee's relocation expenses, damage or loss of Lessee’s business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property as a result of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. Condemnation. c. In the event that this the Lease is not terminated by reason of the Condemnation, Lessor shall promptly repair any damage to the Remaining Premises caused by such Condemnation. Lessee may terminate the Lease upon ninety (90) day written notice to Lessor if (i) Lessor does not commence repairs within forty-five (45) days after Lessor receives written notice of the occurrence of such damage or (ii) Lessor commences but does not complete such repairs within six (6) months thereafter.

Appears in 1 contract

Sources: Lease Agreement (Transdigm Holding Co)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of building the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Lease Agreement (Fox Factory Holding Corp)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively all of which are herein called "CONDEMNATIONcondemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion the floor area of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any buildingCommon Areas designated for Lessee's parking, is taken by Condemnationcondemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in the same proportion to as the reduction in utility rentable floor area of the Premises caused by taken bears to the total rentable floor area of the Premises. No reduction of Base Rent shall occur if the condemnation does not apply to any portion of the Premises. Any award for the taking of all or any part of the Premises under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, whether such award shall be made as compensation for diminution in of value of the leasehold, the value of the part taken, leasehold or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss the taking of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.the

Appears in 1 contract

Sources: Standard Industrial/Commercial Multi Tenant Lease (DCH Technology Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 business days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 business days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall promptly and diligently after receiving condemnation proceeds repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Standard Industrial/Commercial Multi Tenant Lease (Nexsan Corp)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"all of which are herein called “condemnation”), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingCommon Areas designated for Tenant’s parking, is taken by Condemnationcondemnation, Lessee Tenant may, at Lessee's Tenant’s option, to be exercised in writing within ten (10) 10 days after Lessor Landlord shall have given Lessee Tenant written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) ), terminate this Lease as of the date the condemning authority takes such possession. If Lessee Tenant does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in the same proportion to as the reduction in utility rentable floor area of the Premises caused by taken bears to the total rentable floor area of the Premises. No reduction of Base Rent shall occur if the condemnation does not apply to any portion of the Premises. Any award for the taking of all or any part of the Premises under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damagesLandlord; provided, however, that Lessee Tenant shall be entitled to any compensation compensation, separately awarded to Tenant, for Lessee's Tenant’s relocation expenses, expenses and/or loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforTenant’s trade fixtures. In the event that this Lease is not terminated by reason of such condemnation, Landlord shall to the Condemnationextent of its net severance damages in the condemnation matter, Lessor shall repair any damage to the Premises caused by such Condemnationcondemnation authority.

Appears in 1 contract

Sources: Industrial Lease (Mips Technologies Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the . The value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraphparagraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee Lessee, and Lessee shall be entitled to any .any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease (Entech Environmental Technologies Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisesbuilding, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expensesexpense, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Sublease Agreement (Xoma Corp /De/)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any building, parking spaces is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after alter the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to a the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to of the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee▇▇▇▇▇▇'s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee▇▇▇▇▇▇, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. therefor In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Lease Agreement (Oculus Innovative Sciences, Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the rentable floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee’s Reserved Parking Spaces, is if any, are taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If , if Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefortherefore. In the event that this Lease is not terminated by reason of the Condemnation, . Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Standard Multi Tenant Office Lease Gross (Ventyx Biosciences, Inc.)

Condemnation. If all of the Premises or any portion thereof are taken by any public authority under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")domain, this Lease shall terminate as of the date possession is taken by said public authority pursuant to such condemnation. If any part of the Premises is so taken and, in the opinion of either Lessor or Lessee, it is not economically feasible to continue this Lease in effect, either party may terminate this Lease. If any substantial part of the Building is so taken and, in the opinion of Lessor, it is not economically feasible to continue this Lease in effect, Lessor may terminate this Lease. Such termination by either party shall be made by notice to the part taken other given not later than 30 days after possession is so taken, the termination to be effective as of the later of 30 days after said notice or the date the condemning authority takes title or possession, whichever first occurspossession is so taken. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion part of the Premises not occupied by any buildingor part of the Building is so taken, and neither Lessor or Lessee elects to terminate this Lease, or until termination is taken by Condemnationeffective, Lessee mayas the case may be, at Lessee's option, to the rental shall be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or abated in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease same proportion as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion so taken bears to the reduction in utility whole of the Premises, and Lessor shall make such repairs or alterations, if any, as are required to render the remainder of the Premises caused by such Condemnationtenantable. Condemnation awards and/or payments All damages awarded for the taking or damaging of all or any part of the Building or the Premises shall belong to and be the property of the Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled hereby assigns to Lessor any and all compensation which is payable therefor. In claims to such award, but nothing herein contained shall be construed as precluding Lessee from asserting any claim Lessee may have against such public authority for disruption or relocation of Lessee's business on the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such CondemnationPremises.

Appears in 1 contract

Sources: Sublease (Cypress Bioscience Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. , If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, leasehold the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Condemnation Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease (Intest Corp)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If , if more than ten percent (10%) of any building portion % of the PremisesBuilding, or more than twenty-five percent (25%) % of the land area that portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in In proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemn nor for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease (BridgeBio Pharma, Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten thirty (1030) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate terminates this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefortherefore. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation. See Addendum, Paragraph 59.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease Net (United Defense Industries Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisespremises, or more than twenty-five percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations alterations and Utility Installations installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease Net (Imaging Technologies Corp/Ca)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisespremises, or more than twenty-five percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possessionposession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility 246 Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease Net (North Valley Bancorp)

Condemnation. If the lie Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee’s Reserved Parking Spaces, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnationcondemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Lease Agreement (Nextest Systems Corp)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain domain, or sold under the threat of the exercise of said power (collectively all of which are herein called "CONDEMNATIONcondemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premises, or more than twenty-five percent (25%) floor area of the land area portion Property of which the Premises are a part is taken by condemnation and Lessee's use of the Premises not occupied by any building, is taken by Condemnationshall be materially interfered with as a result thereof, Lessee or Lessor may, at Lessee's its option, to be exercised in writing only within ten (10) days after Lessor shall have received, or have given Lessee Lessee, written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate neither part terminates this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion Premises. Any award for the taking of all or any part of the Premises remaining, except that under the Base Rent shall be reduced in proportion to the reduction in utility power of eminent domain or any payment made under threat of the Premises caused by exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, leasehold or for the value taking of the part takenfee, or for as severance damages; provided, however, however that Lessee shall be entitled to any compensation award for loss of or damage to Lessee's trade fixtures and removable personal property or for any sums allocated for Lessee's relocation costs and expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnationsuch condemnation, Lessor shall to the extent of proceeds received by Lessor in connection with such condemnation, repair or replace any damage to the Premises caused by such Condemnationcondemnation except to the extent that Lessee has been reimbursed therefor by the condemning authority.

Appears in 1 contract

Sources: Lease Agreement (California Culinary Academy Inc)

Condemnation. If the whole or a substantial part of the Premises shall be taken for any public or quasi-public use, under any portion statute or by right of eminent domain or private purchase in lieu thereof are taken under by a public body vested with the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")domain, this Lease then, when possession shall terminate as to the part be taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion thereunder of the Premises, or more than twenty-five percent (25%) any part thereof, the term herein demised and all rights of Tenant hereunder shall immediately cease and terminate, and the rent shall be adjusted as of the land area portion time of such termination. The termination shall be without prejudice to the rights of either Landlord or Tenant to recover compensation from the condemning authority for any loss or damage caused by the condemnation. Neither Landlord nor Tenant shall have any rights in or to any award made to the other by the condemning authority. If, after any condemnation and taking of a part of the Premises, the remainder of the Premises not occupied by any buildingis suitable, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence reasonable opinion of such noticeTenant, within ten (10) days after for continuation of the condemning authority business of Tenant, this Lease shall not terminate but the rent and additional rent payable shall ▇▇▇▇▇ to the extent to which the Premises have taken possession) been reduced by the taking. If the remainder is not so suitable, then Tenant may terminate this Lease by notice effective as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefortaking. In the event that this Lease any repair or rebuilding is not terminated necessary to restore the Premises to a proper condition for the Tenant's use, the costs of such repair or rebuilding shall be paid by reason the Landlord, except for costs of replacing trade fixtures, equipment, furnishings and other elements of the CondemnationPremises not originally famished the Tenant by Landlord, Lessor which costs shall repair any damage to the Premises caused be paid by such CondemnationTenant.

Appears in 1 contract

Sources: Lease Agreement (Naviant Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. , Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the the, value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade FixturesFixture, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease (Napster Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), . this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the PremisesBuilding, or more than twenty-five percent (25%) % of the land area that portion of the Premises not occupied by any building, is taken by Condemnation, . Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Lease Agreement (Trimedyne Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the PremisesBuilding, or more than twenty-five percent (25%) % of the land area that portion of the Premises not occupied by any buildingthe Building, is taken by Condemnation, Lessee Tenant may, at Lessee's Tenant’s option, to be exercised in writing within ten (10) 10 days after Lessor Landlord shall have given Lessee Tenant written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee Tenant does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of LessorLandlord, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee Tenant shall be entitled to any compensation paid by the condemnor for Lessee's Tenant’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this ParagraphArticle 14. All Alterations and Utility Installations made to the Premises by LesseeTenant, for purposes of Condemnation only, shall be considered the property of the Lessee Tenant and Lessee Tenant shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor Landlord shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Commercial Lease (NantKwest, Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the PremisesBuilding, or more than twenty-five percent (25%) % of the land area that portion of the Premises not occupied by any buildingthe Building, is taken by Condemnation, Lessee Tenant may, at Lessee's Tenant’s option, to be exercised in writing within ten (10) days after Lessor Landlord shall have given Lessee Tenant written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee Tenant does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of LessorLandlord, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee Tenant shall be entitled to any compensation paid by the condemnor for Lessee's Tenant’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this ParagraphArticle 14. All Alterations and Utility Installations made to the Premises by LesseeTenant, for purposes of Condemnation only, shall be considered the property of the Lessee Tenant and Lessee Tenant shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor Landlord shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Commercial Lease Agreement (ImmunityBio, Inc.)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%100/o) of any building portion of the Premisespremises, or more than twenty-five percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease (Laser Pacific Media Corporation)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), ) this Lease shall terminate as to the part taken as of the date data the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease Net (Converse Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) % of any building portion the rentable floor area of the Premises, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee's Reserved Parking Spaces, is if any, are taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefortherefore. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Office Lease

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first first occurs. If more than ten percent (10%) of any building portion % of the PremisesBuilding, or more than twenty-five percent (25%) % of the land area that portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease Net (ImmunityBio, Inc.)

Condemnation. a. If the Premises whole or any portion thereof are part of the Premises shall be taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")domain, this Lease shall terminate as to the part so taken as of on the date Tenant is required to yield possession thereof to the condemning authority takes title or possessionauthority. Landlord may, whichever first occursbut shall have no obligation to make such repairs and alterations as may be necessary in order to restore the part not taken to useful condition. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, Landlord elects to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of make such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoingrepairs, this Lease shall remain in full force and effect as and Landlord shall make an equitable adjustment in the rent to reflect the portion reduction, if any, in Tenant's ability to utilize the Premises for greenhouse operations resulting from such taking. If the aforementioned taking renders the remainder of the Premises remainingunsuitable for the permitted use and Landlord does not elect to make repairs necessary to restore the part not taken to useful condition, except either party may terminate this Lease as of the date when Tenant is required to yield possession by giving notice to that effect within thirty (30) days after such date. In the Base Rent shall be reduced event that Tenant remains in proportion to the reduction in utility possession of the Premises caused by after such Condemnation. Condemnation awards and/or payments taking, Tenant shall continue to pay rent through the date of termination of this Lease. b. All compensation awarded for any taking of the Premises or any interest therein shall belong to and be the property of LessorLandlord, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damagesand Tenant hereby assigns to Landlord all rights with respect thereto; provided, however, that Lessee nothing contained herein shall be entitled to any compensation prevent Tenant from applying for Lessee's relocation reimbursement from the condemning authority (if permitted by law) for moving expenses, or the expense of removal of Tenant's trade fixtures, or loss of Tenant's business goodwill and/or Trade Fixturesgoodwill, without regard to whether or but only if such action shall not this Lease is terminated pursuant to reduce the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property amount of the Lessee and Lessee shall be entitled to any and all award or other compensation which is payable therefor. In otherwise recoverable from the event that this Lease is not terminated condemning authority by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such CondemnationLandlord.

Appears in 1 contract

Sources: Cogeneration and Greenhouse Lease Agreement (Colorado Greenhouse Holdings Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisespremises, or more than twenty-five twentyfive percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10i 0) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Standard Industrial Commercial Single Tenant Lease Gross (Modacad Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisespremises, or more than twenty-five percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in In the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in In full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in In utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made -made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is Is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is Is payable therefor. In the event that this Lease is not riot terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease (Tangible Asset Gallaries Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisespremises, or more than twenty-five percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, . Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after Lessee obtains knowledge that the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Lease Agreement (Exodus Communications Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the of condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any and building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to file a separate claim for any compensation for Lessee's relocation expenses, loss of 9 business goodwill goodwill, the Clean Room and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Lease Agreement (Luminent Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisespremises, or more than twenty-five percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.condemnation. (See Addendum Paragraph 73)

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease (Capstone Turbine Corp)

Condemnation. If In the Premises event of condemnation of all or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION")Site, this Lease License shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occursoccurs first. If more than ten percent (10%) as a result of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion a partial condemnation of the Premises not occupied by any buildingor CITY’s tower, LICENSEE, in LICENSEE’s sole discretion, is taken by Condemnationunable to use the Premises for the purposes intended hereunder, Lessee or if such condemnation disrupts LICENSEE’s operations at the Premises for more than forty-five (45) days, LICENSEE may, at Lessee's LICENSEE’s option, to which must be exercised in writing within ten fifteen (1015) days after Lessor CITY shall have given Lessee LICENSEE written notice of such taking (or in the absence of such notice, within ten fifteen (1015) days after the condemning authority shall have taken possession) terminate this Lease License as of the date the condemning authority takes such possession. LICENSEE may on its own behalf make a claim in any condemnation proceeding involving the Premises for its losses related to the equipment, conduits, fixtures, its relocation costs and its damages and losses (but not for the loss of any possessory interest). The parties shall make an appropriate adjustment to payments due to the other under this License for the time of the LICENSEE is unable to use the Premises. If Lessee LICENSEE does not terminate this Lease License in accordance with the foregoing, this Lease License shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in the same proportion to as the reduction in utility rentable area of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be taken bears to the property of Lessor, whether such award shall be made as compensation for diminution in value total rentable area of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such CondemnationPremises.

Appears in 1 contract

Sources: License Agreement

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"“Condemnation”), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premisespremises, or more than twenty-five percent (25%) of the land area portion of the Premises premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's ’s option, to be exercised in writing within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's ’s relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Sublease (Digirad Corp)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively all of which are herein called "CONDEMNATIONCondemnation"), this Lease shall terminate as to the part so taken as of the date the condemning Condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) 10.00% of any building portion the floor area of the Premises, or more than twenty-five percent (25%) 25.00% of the land area portion of the Premises not occupied by any buildingCommon Areas designated for Tenant's parking, is taken by Condemnation, Lessee Tenant may, at LesseeTenant's option, to be exercised in writing within ten (10) 10 days after Lessor Landlord shall have given Lessee Tenant written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning Condemning authority shall have taken possession) terminate this Lease as of the date the condemning Condemning authority takes such possession. If Lessee Tenant does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in the same proportion to as the reduction in utility square footage of the Premises caused by taken bears to the total square footage of the Premises. No reduction of Base Rent shall occur if the Condemnation does not apply to any portion of the Premises. Any award for the taking of all or any part of the Premises under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of LessorLandlord, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee Tenant shall be entitled to any compensation compensation, separately awarded to Tenant for LesseeTenant's relocation expenses, expenses and/or loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable thereforTenant's trade fixtures. In the event that this Lease is not terminated by reason of the such Condemnation, Lessor Landlord shall to the extent of its net severance damages in the Condemnation matter, repair any damage to the Premises caused by such CondemnationCondemning authority.

Appears in 1 contract

Sources: Lease Agreement (Carrollton Bancorp)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "CONDEMNATION"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion of the Premises, or more than twenty-five percent (25%) of the land area portion of the Premises not occupied by any building, is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing in within ten (10) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Lease Agreement (Sync Research Inc)

Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said Said power (collectively "CONDEMNATIONCondemnation"), . this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than ten percent (10%) of any building portion % of the Premisesfloor area of the Unit, or more than twenty-five percent (25%) % of the land area portion of the Premises not occupied by any buildingLessee's Reserved Parking Spaces, is Is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing within ten (10) 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within ten (10) 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. , If Lessee does not terminate this Lease in In accordance with the foregoing, this Lease shall remain in full force and effect affect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in In proportion to the reduction in In utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is Is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.

Appears in 1 contract

Sources: Standard Industrial/Commercial Multi Tenant Lease (Motorcar Parts America Inc)