Entire Taking. In the event of an Entire Taking, this Lease shall terminate on the date of taking and each party shall have the right to make its own claim for any and all awards, compensation and damages for the taking. The parties agree that an element of Ranchcorp's claim will be the present value of its rental stream under this Lease.
Appears in 2 contracts
Sources: Ground Lease (Tejon Ranch Co), Option Agreement (Tejon Ranch Co)