Common use of Entire or Substantial Taking Clause in Contracts

Entire or Substantial Taking. If the Premises or the Shopping Center, or any portion of or interest in either, is taken for any public or quasi-public use under any statute or by right of eminent domain, or by purchase in lieu thereof, so that in Landlord’s judgment a reasonable amount of reconstruction of the Premises and/or Shopping Center will not result in the Premises being reasonably suited for Tenant’s continued occupancy for the uses and purposes for which the Premises are leased, then this Lease shall terminate as of the date that possession of the Premises or Shopping Center, or part thereof, or interest therein is taken.

Appears in 1 contract

Sources: Lease Agreement (Central Coast Bancorp)

Entire or Substantial Taking. If the Premises or the Shopping Center, or any portion of or interest in either, is taken for any public or quasi-public use under any statute or by right of eminent domain, or by purchase in lieu thereof, so that in Landlord’s 's or Tenant's judgment a reasonable amount of reconstruction of the Premises and/or Shopping Center will not result in the Premises being reasonably suited for Tenant’s 's continued occupancy for the uses and purposes for which the Premises are leased, then written notice shall be given by the other party and this Lease shall terminate as of the date that possession of the Premises or Shopping Center, or part thereof, or interest therein is taken.

Appears in 1 contract

Sources: Shopping Center Lease (North Valley Bancorp)

Entire or Substantial Taking. If the Premises Building or the Shopping Center, or any portion of or interest in either, is taken for any public or quasi-public use under any statute or by right of eminent domain, or by purchase in lieu thereof, so that in Landlord’s the reasonable judgment of Landlord and Tenant a reasonable amount of reconstruction of the Premises Building and/or Shopping Center will not result in the Premises being reasonably suited for Tenant’s 's continued occupancy for the uses and purposes for which the Premises are leased, then this Lease shall terminate as of the date that possession of the Premises Building or Shopping Center, or part thereof, or interest therein is taken.

Appears in 1 contract

Sources: Lease (Gi Joes Inc)