Exercise of Eminent Domain Sample Clauses
Exercise of Eminent Domain. The Owner and the Holder shall use their best efforts against any attempt to exercise the power of eminent domain or other involuntary attempt to extinguish, limit, or impair this Covenant. In the event of a valid exercise of eminent domain, the Owner, Holder and Ohio EPA, may collectively agree to a settlement of terms that includes but is not limited to location of any easement, construction practices related thereto, or the fair market value of said interest in the Property. Such settlement shall be incorporated into the Covenant or the Plan upon the approval of Ohio EPA.
Exercise of Eminent Domain. In the event such portion as would render the Premises unsuitable for the Tenant's intended use shall be appropriated or taken under the power of eminent domain by any public or quasi-public authority, this Lease shall terminate if agreed by the parties and expire as of the date of such taking, and Tenant shall thereupon be released from all liability thereafter accruing. In the event of the termination of this Lease by reason of the total or partial taking of the Premises by eminent domain as aforesaid, then in any such condemnation proceeding Landlord and Tenant shall be free to make claim against the condemning authority for the amount of any damage done to them, respectively as a result thereof.
Exercise of Eminent Domain. An appropriation or taking under the power of eminent domain of all, or a portion, of the property described in Exhibit A, or the sale by private sale of all, or a portion of the property described in Exhibit A in lieu thereof, are sometimes hereinafter called a "taking".
14.1 If twenty-five percent (25%) or more of the Premises shall be taken, this Lease shall terminate and expire as of the date of taking of actual physical possession of such portion of the Premises by the condemnor or purchaser and the parties hereto shall thereupon be released from any and all further liability hereunder; in such event Tenant shall be entitled to participate in any condemnation award or in the sale price paid so as to be compensated for the cost of removal and decrease in value, as a result of such taking of Tenant's fixtures, equipment and stock-in-trade located in the Premises and the value of the leasehold of which it is deprived for the remainder of the term hereof; provided that nothing in the Article 14 shall be construed as a waiver by Owner of any rights vested in it by law to recover damages from a condemnor for the taking of its right, title, or interest in the property described in Exhibit A.
14.2 In the event of the taking of:
(a) any portion of the Premises so that the remainder thereof is not one undivided parcel of property;
(b) any portion of the Premises, or of the property described in Exhibit A hereto, so that the remainder thereof is not reasonably adapted to the continued leasing of the Premises by Tenant;
(c) any portion of the common area on the real property described in Exhibit A hereto so that a portion of said common area is so separated from the remainder thereof that in Tenant's opinion the common area available to customers of Tenant is so limited that the continued leasing of the Premises by Tenant is impracticable or unprofitable; or
(d) access, whether by a taking or otherwise, of the property described on Exhibit A hereto to adjoining thoroughfares so that such accessibility is so limited and reduced that, in Tenant's opinion, business on the Premises by Tenant will become impracticable or unprofitable; then Tenant shall have the right to cancel and terminate this Lease as hereinafter provided. Within ninety (90) days after receipt by Tenant from Owner of written notice that an action has been commenced in either the state or federal courts for the condemnation of any portion of the real property described in Exhibit A hereto, or of Own...
Exercise of Eminent Domain. A. Taking. An appropriation or taking under the power of eminent domain of ad. or a portion, of the Building. are sometimes hereinafter called a "taking."
Exercise of Eminent Domain. 8 9.1 Taking..........................................8 9.2 Partial Taking..................................9 9.3
Exercise of Eminent Domain. Neither Party shall exercise their eminent domain power to acquire any interest in the Property from the other. Damage and destruction and condemnation shall not be considered causes shall allow Buyer to recover Rent from Seller.
Exercise of Eminent Domain. The municipality acquiring real property should make every reasonable effort to settle amicably by negotiations as described above. If municipal officials determine after sufficient contacts that settlement based on negotiations is not feasible, and the project schedule requires immediate taking of property interests, title should be acquired by filing a condemnation order in the manner specified in 23 MRSA Chapter 304, Section 3023. The municipality will issue a check in the full amount of determined damages, fair market value, for delivery with the service of record copy of the condemnation order. Service on any one of multiple owners will be considered service on all owners. Title will pass to the municipality on service of the order of condemnation and check, or recordation of the deed or certificate as specified in 23 MRSA Section 3024, whichever occurs first. A property owner who is not satisfied with the determination of damages that are awarded in the process of eminent domain as described above may appeal to the Superior Court in the county where the property lies. The owner’s appeal to the Superior Court must be made within 60 days after the day of taking as specified in 23 MRSA Section 3029.
Exercise of Eminent Domain. An appropriation or taking under the power of eminent domain of any portion of the Land, Improvements and/or Fixtures, or the sale of any portion thereof in lieu thereof, are sometimes hereinafter called a “taking.” In the event of the taking of any portion of the Land, Improvements and/or Fixtures, then whether or not this lease shall continue thereafter through the end of the term hereof shall be determined as follows. Landlord and Tenant shall within twenty (20) days of the occurrence of the taking of possession by the condemning authority determine the Repair Cost. If Tenant does not wish to contribute Tenant’s share of the Repair Cost as hereinafter provided, then Tenant may terminate this lease by written notice to Landlord within ten (10) days after the date of determination of the Repair Cost. If Tenant does not terminate this lease, then Landlord shall with reasonable diligence effect the repair work necessary to cause Tenant to be able lawfully to use the Premises hereunder, and Landlord and Tenant shall share the Repair Cost, Tenant shall pay to Landlord in cash, and Landlord and Tenant shall adjust overpayment and underpayment in the same manner and at the same times as provided in Section 7(a) hereof. In any event Tenant shall have no interest in any condemnation award or the sale price paid, and Tenant hereby assigns to Landlord any and all right or interest Tenant may have in such award or sale price or other right to compensation, except that Tenant may seek compensation for moving and relocation expenses as a result of such taking so long as the granting thereof to Tenant shall not reduce the sum paid or payable to Landlord.
Exercise of Eminent Domain