Partial Condemnation. If more than twenty percent (20%) of the Premises is appropriated or condemned by eminent domain, or if such portion of the Land or Building is appropriated or condemned which materially affects the ability of Lessee physically to operate its business and Lessor is unable to remodel in such a way as to restore the Premises, then Lessor and Lessee both shall have the right to terminate this Lease upon notice to the other party within thirty (30) days after being notified of the appropriation or condemnation. This Lease shall be deemed terminated as of the date title or possession shall be transferred to the condemning authority, whichever shall first occur. If less than twenty percent (20%) of the Premises is appropriated or condemned or if such portion of the Land or Building is appropriated or condemned which does not affect Lessee's ability to operate its business, or if neither party elects to terminate the Lease as provided herein, then Lessor promptly shall restore the Premises to a condition comparable to its condition at the time of the appropriation or condemnation, less the portion lost in the appropriation or condemnation, and this Lease shall continue in full force and effect; provided, however, the Base Rent and Lessee's Share of Expenses due hereunder shall ▇▇▇▇▇, as of the date title or possession shall be transferred to the condemning authority, whichever shall first occur, to an amount equal to the base rent otherwise payable multiplied by a fraction, the numerator of which is the square footage of space remaining in the Premises and the denominator of which is the square footage of space originally part of the Premises.
Appears in 2 contracts
Sources: Lease (Infospace Inc), Lease Agreement (Go2net Inc)
Partial Condemnation. If more than twenty percent (20%) of the Premises is appropriated or condemned by eminent domain, or if such only a portion of the Land Leased Premises shall be so appropriated, but the remainder of the Leased Premises is not suitable for the use then being made thereof or Building is appropriated the appropriation would prevent or condemned materially interfere with the use of the Leased Premises for the purpose for which they are then being used or prevent or materially affects interfere with Tenant's business operations at the ability of Lessee physically to operate its business and Lessor is unable to remodel in such a way as to restore the Leased Premises, then Lessor and Lessee both either Landlord or Tenant shall have the right to terminate this Lease upon as of the date of appropriation by giving written notice to the other party within thirty (30) days after being notified of and this Lease shall terminate and the appropriation or condemnation. This Rental payable under this Lease shall be deemed terminated as abated for the unexpired portion of this Lease effective on the date physical possession is taken by the condemning authority or title or possession shall be transferred to vests in the condemning authority, whichever shall first occuroccurs first. If less than twenty percent (20%) of the Premises is appropriated or condemned neither Landlord nor Tenant elects to so terminate this Lease or if such only a portion of the Land or Building is Leased Premises shall be so appropriated or condemned which does but not affect Lessee's ability to operate its business, or if neither party elects to terminate the Lease as provided herein, then Lessor promptly shall restore extent that the Premises to a condition comparable to its condition at the time remainder of the appropriation or condemnationLeased Premises is unsuitable for the use then being made thereof, less the portion lost in the appropriation or condemnation, and this Lease shall continue in full force and effect; providedbut the Rental payable hereunder during the unexpired portion of this Lease will be reduced, howeverpro rata, based upon the Base Rent and Lessee's Share of Expenses due hereunder shall ▇▇▇▇▇, as portion of the date title or possession shall be transferred to Leased Premises taken by the condemning authority. If such appropriation occurs during the last year of the Primary Term or any Extension, whichever shall first occur, to an amount equal either Landlord or Tenant may terminate this Lease by delivering written notice of termination to the base rent otherwise payable multiplied by a fraction, the numerator of which is the square footage of space remaining in the Premises and the denominator of which is the square footage of space originally part of the Premisesother.
Appears in 2 contracts
Sources: Lease Agreement (Security Associates International Inc), Lease Agreement (Security Associates International Inc)
Partial Condemnation. If more than twenty percent (20%) any portion of the Premises is appropriated or condemned by eminent domain, or if such portion of the Land or Building is appropriated or condemned which and such partial condemnation materially affects impairs Tenant’s ability to use the ability of Lessee physically to operate its Premises for Tenant’s business and Lessor is unable to remodel in such a way as to restore the Premisesreasonably determined by Landlord, then Lessor and Lessee both Landlord shall have the right option in Landlord’s sole and absolute discretion of either (i) relocating Tenant to comparable space (including functionality and comparable improvements as the Tenant Improvements and any additional improvements made by Tenant as permitted in this Lease) within the Project; provided that if the partial condemnation occurs within the last two (2) years of the Term, Tenant may reject any such relocation and instead terminate this Lease upon by written notice to the other party within thirty Landlord; or (30ii) days after being notified terminate this Lease as of the appropriation earlier of the date title vests in the condemning authority or condemnation. This Lease shall be deemed terminated as of the date title or an order of immediate possession is issued and Rent shall be transferred adjusted to the condemning authority, whichever shall first occurdate of termination. If less than twenty percent (20%) of such partial condemnation does not materially impair Tenant’s ability to use the Premises is appropriated or condemned or if such portion for the business of the Land or Building is appropriated or condemned which does not affect Lessee's ability to operate its businessTenant, or if neither party elects to terminate the Lease as provided herein, then Lessor Landlord shall promptly shall restore the Premises to a condition comparable to its condition at the time extent of the appropriation or condemnationany condemnation proceeds recovered by Landlord, less excluding the portion thereof lost in the appropriation or such condemnation, and this Lease shall continue in full force and effect; provided, however, the Base Rent and Lessee's Share of Expenses due hereunder shall ▇▇▇▇▇, as of effect except that after the date of such title vesting or order of immediate possession Rent shall be transferred to the condemning authority, whichever shall first occur, to an amount equal to the base rent otherwise payable multiplied adjusted as reasonably determined by a fraction, the numerator of which is the square footage of space remaining in the Premises and the denominator of which is the square footage of space originally part of the PremisesLandlord.
Appears in 2 contracts
Sources: Lease Agreement (Talend SA), Lease Agreement (Talend SA)
Partial Condemnation. If more than twenty percent (20%) any portion of the Premises is appropriated or condemned by eminent domain, or if such portion of the Land or Building is appropriated or condemned which Condemned and such partial condemnation materially affects impairs Tenant's ability to use the ability of Lessee physically to operate its business and Lessor is unable to remodel in such a way as to restore the PremisesPremises for Tenant's business, then Lessor and Lessee both Landlord shall have the right option of either (i) relocating Tenant to terminate comparable space within the Project or (ii) terminating this Lease upon notice to the other party within thirty (30) days after being notified as of the appropriation earlier of the date title vests in the condemning authority or condemnation. This Lease shall be deemed terminated as of the date title or an order of immediate possession is issued and Rent shall be transferred adjusted to the date of termination. In the event of relocation, Landlord shall pay the cost of constructing tenant improvements in the new premises that are substantially equivalent to the improvements made pursuant to the Work Letter, provided that Landlord receive from the condemning authority, whichever shall first occurauthority proceeds sufficient to construct such improvements. If less than twenty percent (20%) of the Premises is appropriated or condemned or if such portion of the Land or Building is appropriated or condemned which partial condemnation does not affect Lesseematerially impair Tenant's ability to operate its businessuse the Premises for the business of Tenant, or if neither party elects to terminate the Lease as provided herein, then Lessor Landlord shall promptly shall restore the Premises to a condition comparable to its condition at the time extent of the appropriation or condemnationany condemnation proceeds recovered by Landlord, less excluding the portion thereof lost in the appropriation or such condemnation, and this Lease shall continue in full force and effect; provided, however, the Base Rent and Lessee's Share of Expenses due hereunder shall ▇▇▇▇▇, as of effect except that after the date of such title vesting or order of immediate possession Rent shall be transferred to the condemning authority, whichever shall first occur, to an amount equal to the base rent otherwise payable multiplied adjusted as reasonably determined by a fraction, the numerator of which is the square footage of space remaining in the Premises and the denominator of which is the square footage of space originally part of the PremisesLandlord.
Appears in 2 contracts
Sources: Multi Tenant Industrial Triple Net Lease (Brooks Automation Inc), Multi Tenant Industrial Triple Net Lease (Brooks Automation Inc)
Partial Condemnation. A. If more any buildings or improvements now or hereafter constructed on the Demised Premises shall be damaged or partially destroyed by any such taking of less than twenty percent (20%) of the Premises is appropriated whole or condemned by eminent domain, or if such portion of the Land or Building is appropriated or condemned which materially affects the ability of Lessee physically to operate its business and Lessor is unable to remodel in such a way as to restore the Premisesall thereof, then Lessor and Lessee both shall have the right to terminate this Lease upon notice to the other party within thirty (30) days except as herein above or after being notified of the appropriation or condemnation. This Lease shall be deemed terminated as of the date title or possession shall be transferred to the condemning authorityspecifically provided, whichever shall first occur. If less than twenty percent (20%) of the Premises is appropriated or condemned or if such portion of the Land or Building is appropriated or condemned which does not affect Lessee's ability to operate its business, or if neither party elects to terminate the Lease as provided herein, then Lessor promptly shall restore the Premises to a condition comparable to its condition at the time of the appropriation or condemnation, less the portion lost in the appropriation or condemnation, and this Lease shall continue in full force and effect; effect as to the part not so taken, and the Base Rent shall be reduced by mutual a-agreement of the parties, and if the parties fail to mutually agree upon a fair Base Rent, the matter shall be determined by arbitration in accordance with Article 34 hereof. Tenant shall give prompt notice thereof to Landlord, and shall proceed with reasonable diligence to conduct any necessary demolition and to repair and restore, at its own cost and expense, any remaining part of any building and improvements not so taken, so as to constitute such remaining part or parts thereof a complete, rentable building in good condition and repair, provided, however, that Tenant shall not be required to make any repairs or restoration hereunder until the Base Rent and Lessee's Share condemnation award shall have first been paid or disbursed in accordance with the terms of Expenses due hereunder this Article.
B. If there shall ▇▇▇▇▇, as be less than sixty (60) days remaining to the end of the date title Lease term hereunder (including any extensions thereto as to which Tenant shall have given Landlord the notice required by Article 2B, 2C or possession 2D), Tenant may, in lieu of making such repair and restoration tenant this Lease upon thirty (30) days prior written notice to Landlord without penalty and the otherwise applicable provisions of this Lease regarding terminations shall be transferred applied as if the Lease had otherwise terminated on such date. Tenant shall in such case promptly remit to the condemning authorityLandlord any insurance proceeds and payments received as a result of such damage, whichever shall first occur, to an amount equal to the base rent otherwise payable multiplied by a fraction, the numerator of which is the square footage of space remaining in the Premises and the denominator of which is the square footage of space originally part of the Premisesdestruction or taking.
Appears in 1 contract
Partial Condemnation. (a) If more than twenty percent (20%) any portion of the Leased Premises is appropriated or condemned by eminent domain, inversely condemned, or if sold in lieu of condemnation for any public or quasi-public use or purpose such portion of that, in Landlord’s reasonable opinion, the Land or Building is appropriated or condemned which materially affects the ability of Lessee physically to operate its business and Lessor is unable to remodel in such a way as to restore the Premisesethanol production facility located thereon cannot be operated for Tenant’s business, then Lessor and Lessee both Tenant shall have the right option to terminate this Lease upon Lease, by providing written notice thereof to the other party within thirty (30) days after being notified of the appropriation or condemnation. This Lease shall be deemed terminated Landlord, as of the date of vesting of title or possession shall be transferred to the condemning authority, whichever shall first occur. If less than twenty percent (20%) of the Premises is appropriated or condemned or if on such portion of the Land or Building is appropriated or condemned which does not affect Lessee's ability to operate its business, or if neither party elects to terminate the Lease as provided herein, then Lessor promptly shall restore the Premises to a condition comparable to its condition at the time of the appropriation or condemnation, less the portion lost in the appropriation or condemnation, taking and this Lease will terminate as of the date of title vesting or order of immediate possession in that proceeding and the Rent will be abated to the date of termination.
(b) If, in Landlord’s reasonable opinion, the partial condemnation does not render the Leased Premises unusable for the business of Tenant, then this Lease, only as to the portion or portions so taken, shall continue terminate as of the date possession thereof shall be delivered to the condemnor but otherwise this Lease shall remain in full force and effect; provided, however, the Base Rent . Tenant and Lessee's Share of Expenses due hereunder Landlord shall ▇▇▇▇▇, as of the date title or possession shall be transferred to the condemning authority, whichever shall first occur, to agree on an abatement in rent in an amount equal to the base rent otherwise payable multiplied by reduction in leasehold value resulting from such partial condemnation. In the event Tenant and Landlord cannot agree on such a fractionreasonable value, then the parties shall submit such dispute to the American Arbitration Association, the numerator decision of which is shall be binding on the square footage of space remaining in the Premises and the denominator of which is the square footage of space originally part of the Premisesparties.
Appears in 1 contract
Sources: Lease Agreement (AE Biofuels, Inc.)
Partial Condemnation. If more than twenty percent (20%) any portion of the Premises is appropriated taken by condemnation during the Term, whether by exercise of governmental power or condemned the sale or transfer by eminent domainLessor to any condemnor under threat of condemnation or while proceedings for condemnation are pending, or if such portion this Lease shall remain in full force and effect; except that in the event a partial taking leaves the Premises unfit for normal and proper conduct of the Land or Building is appropriated or condemned which materially affects the ability business of Lessee physically to operate its business and Lessor is unable to remodel in such a way as to restore the PremisesLessee, then Lessor and Lessee both shall have the right to terminate this Lease effective upon the date transfer of possession is required. Moreover, Lessor shall have the right to terminate this Lease effective on the date transfer of possession is required if more than 33% of the total square footage of the Premises or the Property is taken by condemnation. Lessee and Lessor may elect to exercise their respective rights to terminate this Lease pursuant to this Paragraph by serving written notice to the other party within thirty (30) 30 days after being notified of the appropriation or their receipt of notice of condemnation. This Lease All rent shall be deemed terminated as of paid up to the date title or possession of termination, and Lessee shall be transferred to have no claim against Lessor for the condemning authority, whichever shall first occurvalue of any unexpired term of this Lease. If less than twenty percent (20%) of the Premises is appropriated or condemned or if such portion of the Land or Building is appropriated or condemned which does not affect Lessee's ability to operate its business, or if neither party elects to terminate the Lease as provided herein, then Lessor promptly shall restore the Premises to a condition comparable to its condition at the time of the appropriation or condemnation, less the portion lost in the appropriation or condemnation, and this Lease shall continue in full force and effect; provided, howevernot be cancelled, the Base Rent and Lessee's Share of Expenses due hereunder rent after such partial taking shall ▇▇▇▇▇, as be that percentage of the date title or possession shall be transferred to the condemning authorityadjusted base rent specified herein, whichever shall first occur, to an amount equal to the base rent otherwise payable multiplied by a fraction, the numerator of percentage which is the square footage of space remaining in the Premises and untaken part of the denominator of which is Premises, immediately after the taking, bears to the square footage of space originally part the entire Premises immediately before the taking. Any sums owing hereunder which are calculated on the basis of Lessee's pro rata share (as set forth in Paragraph 1.4) shall also be adjusted to reflect the decreased square footage of the PremisesPremises due to the condemnation. If Lessee's continued use of the Premises requires alterations and repairs by reason of a partial taking, all such alterations and repairs shall be made by Lessee at Lessee's expense.
Appears in 1 contract
Sources: Building E Lease (Xoma Corp /De/)
Partial Condemnation. If more than twenty percent (20%) only a part of the Leased Premises is appropriated or condemned taken by any public authority under the power of eminent domain, or if such portion of the Land or Building is appropriated or condemned which materially affects the ability of Lessee physically to operate its business and Lessor is unable to remodel in such a way as to restore the Premisesthen, then Lessor and Lessee both shall have the right to Landlord may (i) immediately terminate this Lease upon notice to the other party within thirty (30) days after being notified of the appropriation or condemnation. This Lease shall be deemed terminated as of the date title or possession shall be transferred to the condemning authority, whichever shall first occur. If less than twenty percent (20%) of the Premises is appropriated or condemned or if such portion of the Land or Building is appropriated or condemned which does not affect Lessee's ability to operate its businessLease, or if neither party elects to terminate the Lease as provided herein, then Lessor promptly shall restore the Premises to a condition comparable to its condition at the time of the appropriation or condemnation, less the portion lost in the appropriation or condemnation, and (ii) permit this Lease shall continue to remain in full force and effect; provided, however, that from and after the date possession is actually delivered to such public authority, the Base Rent shall be reduced in the proportion which the building floor area of the part of the Leased Premises so taken bears to the total floor area of the building immediately prior to such condemnation. Notwithstanding the foregoing, if more than twenty five percent (25%) by useable floor area of the building or value of the Leased Premises is taken under Eminent Domain, and Lessee's Share Landlord decides not to terminate this Lease or relocate Tenant as provided above, then, in such event, Tenant shall have the right to terminate this Lease and declare the same null and void, by written notice of Expenses due hereunder such intention to Landlord on or before the actual date of such taking. In the event neither party exercises said right of termination, the Lease Term shall ▇▇▇▇▇, cease only on the part of the Leased Premises so taken as of the day possession is actually delivered to such public authority and Tenant shall pay Base Rent and Additional Rent up to that day, with appropriate refund by Landlord of such rent as may have been paid in advance for a period subsequent to the date title or possession of the taking, and thereafter all the terms herein provided shall continue in effect, except that the Base Rent shall be transferred reduced in proportion to the condemning authority, whichever amount of the Leased Premises taken and Landlord shall first occur, to an amount equal make all the necessary repairs or alterations to the base rent otherwise payable multiplied by remaining Leased Premises and/or the building wherein same are located so as to create a fraction, the numerator of which is the square footage of space remaining in the Premises and the denominator of which is the square footage of space originally part of the Premisescomplete architectural unit.
Appears in 1 contract
Sources: Lease Agreement (Rockwell Medical Technologies Inc)
Partial Condemnation. If more than twenty percent (20%) any portion of the Premises is appropriated taken by condemnation during the Term, whether by exercise of governmental power or condemned the sale or transfer by eminent domainLessor to any condemnor under threat of condemnation or while procee▇▇▇▇▇ for condemnation are pending, or if such portion this Lease shall remain in full force and effect; except that in the event a partial taking leaves the Premises unfit for normal and proper conduct of the Land or Building is appropriated or condemned which materially affects the ability business of Lessee physically to operate its business and Lessor is unable to remodel in such a way as to restore the PremisesLessee, then Lessor and Lessee both shall have the right to terminate this Lease effective upon notice the date transfer of possession is required. Moreover, Lessor shall have the right to terminate this Lease effective on the other party within thirty (30) days after being notified date transfer of possession is required if more than 33% of the appropriation or condemnation. This Lease shall be deemed terminated as of the date title or possession shall be transferred to the condemning authority, whichever shall first occur. If less than twenty percent (20%) total square footage of the Premises or the Property is appropriated or condemned or if such portion of the Land or Building is appropriated or condemned which does not affect Lessee's ability taken by condemnation. Lessee and Lessor may elect to operate its business, or if neither party elects exercise their respective rights to terminate the Lease as provided herein, then Lessor promptly shall restore the Premises to a condition comparable to its condition at the time of the appropriation or condemnation, less the portion lost in the appropriation or condemnation, and this Lease shall continue in full force and effect; provided, however, the Base Rent and Lessee's Share of Expenses due hereunder shall t▇▇▇▇▇▇te this Lease pursuant to this Paragraph by serving written notice to the other within 30 days of their receipt of notice of condemnation. All rent shall be paid up to the date of termination, as and Lessee shall have no claim against Lessor for the value of any unexpired term of this Lease. If this Lease shall not be cancelled, the rent after such partial taking shall be that percentage of the date title or possession shall be transferred to the condemning authorityadjusted base rent specified herein, whichever shall first occur, to an amount equal to the base rent otherwise payable multiplied by a fraction, the numerator of percentage which is the square footage of space remaining in the Premises and untaken part of the denominator of which is Premises, immediately after the taking, bears to the square footage of space originally part the entire Premises immediately before the taking. Any sums owing hereunder which are calculated on the basis of Lessee's pro rata share (as set forth in Paragraph 1.4) shall also b▇ ▇▇▇▇sted to reflect the decreased square footage of the PremisesPremises due to the condemnation. If Lessee's continued use of the Premises requires alterations and repa▇▇▇ ▇▇ reason of a partial taking, all such alterations and repairs shall be made by Lessee at Lessee's expense.
Appears in 1 contract
Partial Condemnation. If more than twenty percent (20%) any portion of the Premises is appropriated or condemned by eminent domain, or if such portion of the Land or Building is appropriated or condemned which and such partial condemnation materially affects impairs Tenant’s ability to use the ability of Lessee physically to operate its business and Lessor is unable to remodel in such a way as to restore the PremisesPremises for Tenant’s business, then Lessor and Lessee both Landlord shall have the right option in Landlord’s sole and absolute discretion of either (i) relocating Tenant to comparable space within the Project or (ii) terminate this Lease upon notice to the other party within thirty (30) days after being notified as of the appropriation earlier of the date title vests in the condemning authority or condemnation. This Lease shall be deemed terminated as of the date title or an order of immediate possession is issued and Rent shall be transferred adjusted to the condemning authority, whichever shall first occurdate of termination. If less than twenty percent (20%) of Landlord relocates Tenant pursuant to this Section 20.2, that relocation shall be at Landlord’s sole cost and expense; provided that Tenant will pay to Landlord any relocation assistance or award Tenant receives from the condemning authority as and when received. If such partial condemnation does not materially impair Tenant’s ability to use the Premises is appropriated or condemned or if such portion for the business of the Land or Building is appropriated or condemned which does not affect Lessee's ability to operate its businessTenant, or if neither party elects to terminate the Lease as provided herein, then Lessor Landlord shall promptly shall restore the Premises to a condition comparable to its condition at the time extent of the appropriation or condemnationany condemnation proceeds recovered by Landlord, less excluding the portion thereof lost in the appropriation or such condemnation, and this Lease shall continue in full force and effect; provided, however, the Base Rent and Lessee's Share of Expenses due hereunder shall ▇▇▇▇▇, as of effect except that after the date of such title vesting or order of immediate possession Rent shall be transferred to the condemning authority, whichever shall first occur, to an amount equal to the base rent otherwise payable multiplied adjusted as reasonably determined by a fraction, the numerator of which is the square footage of space remaining in the Premises and the denominator of which is the square footage of space originally part of the PremisesLandlord.
Appears in 1 contract
Sources: Lease Agreement (Model N Inc)
Partial Condemnation. If more than twenty percent (20%) any portion of the Premises is appropriated taken by condemnation during the Term, whether by exercise of governmental power or condemned the sale or transfer by eminent domainLessor to any condemnor under threat of condemnation or while proceedings for condemnation are pending, or if such portion this Lease shall remain in full force and effect; except that in the event a partial taking leaves the Premises unfit for normal and proper conduct of the Land or Building is appropriated or condemned which materially affects the ability business of Lessee physically to operate its business and Lessor is unable to remodel in such a way as to restore the PremisesLessee, then Lessee shall have the right to terminate this lease effective on the date transfer of possession is required. Lessee may elect to exercise its right to terminate this Lease pursuant to this paragraph by serving written notice to Lessor within thirty (30) days of Lessee's receipt of notice of condemnation. All rent shall be paid up to the date of termination; and Lessee both shall have no claim against Lessor for the value of any unexpired term of this Lease. If this Lease shall not be canceled, the rent after such partial taking shall be that percentage of the adjusted base rent specified herein, equal to the percentage which the square footage of the untaken part of the Premises immediately after the taking bears to the square footage of the entire Premises immediately before the taking. If Lessee's continued use of the Premises requires alterations and repairs by reason of a partial taking, Lessor shall make and pay for such alterations and repairs, but only to the extent of proceeds received by Lessor for the condemning authority relating to the improvements to be altered and repaired, and Lessee shall pay the balance of such alterations and repairs. If Lessee is not willing to pay the balance of such alterations and repairs, Lessor shall have the right to terminate this Lease upon notice to the other party within thirty (30) days after being notified of the appropriation or condemnation. This Lease shall be deemed terminated as of the date title or possession shall be transferred to the condemning authority, whichever shall first occur. If less than twenty percent (20%) of the Premises is appropriated or condemned or if such portion of the Land or Building is appropriated or condemned which does not affect Lessee's ability to operate its business, or if neither party elects to terminate the Lease as provided herein, then Lessor promptly shall restore the Premises to a condition comparable to its condition at the time of the appropriation or condemnation, less the portion lost in the appropriation or condemnation, and this Lease shall continue in full force and effect; provided, however, the Base Rent and Lessee's Share of Expenses due hereunder shall ▇▇▇▇▇, as of the date title or possession shall be transferred to the condemning authority, whichever shall first occur, to an amount equal to the base rent otherwise payable multiplied by a fraction, the numerator of which is the square footage of space remaining in the Premises and the denominator of which is the square footage of space originally part of the Premisestaking.
Appears in 1 contract
Partial Condemnation. If more than twenty percent (20%) any portion of the Premises is appropriated or condemned taken by eminent domainCondemnation during the Term, or this Lease shall remain in full force and effect; except that if such portion a partial taking leaves the Premises unsuitable for occupancy, Tenant may terminate this Lease effective on the date transfer of the Land or Building possession is appropriated or condemned which materially affects the ability of Lessee physically to operate its business required unless Landlord makes other comparable arrangements for Tenant's space. Landlord and Lessor is unable to remodel in such a way as to restore the Premises, then Lessor and Lessee both Tenant shall each have the right to terminate this Lease upon effective on the date transfer of possession is required in the event of Condemnation of more than 25% of the Usable Square Feet in the Premises. Either party may exercise its right to terminate this Lease by serving written notice to the other party within thirty (30) days after being notified 30 Days of their receipt of notice of condemnation, except that Tenant's notice shall be ineffective if Landlord serves notice upon Tenant of Landlord's election to provide alternate space equivalent to that condemned within 10 Days of Tenant's delivery of notice to Landlord pursuant to this Paragraph. Tenant shall have the appropriation or condemnationright of approval of replacement space. This All rent and other obligations of Tenant under this Lease shall be deemed terminated as of paid to the date title or possession of Termination; Tenant shall be transferred to the condemning authority, whichever shall first occur. If less than twenty percent (20%) of the Premises is appropriated or condemned or if such have no claim against Landlord for any unexpired portion of the Land or Building Term. If this Lease is appropriated or condemned which does not affect Lesseecanceled after a partial taking, Base Monthly Rent and Tenant's ability Pro Rata Share shall be adjusted to operate its business, or if neither party elects to terminate reflect the Lease as provided herein, then Lessor promptly shall restore the Premises to a condition comparable to its condition at the time of the appropriation or condemnation, less the portion lost net change in the appropriation or condemnation, and this Lease shall continue in full force and effect; provided, however, the Base Rent and Lessee's Share number of Expenses due hereunder shall ▇▇▇▇▇, as of the date title or possession shall be transferred Rentable Square Feet allocable to the condemning authority, whichever shall first occur, to an amount equal to the base rent otherwise payable multiplied by a fraction, the numerator of which is the square footage of space remaining in the Premises and the denominator of which is the square footage of space originally part of the Premises. TENANT WAIVES CALIFORNIA CODE OF CIVIL PROCEDURE SECTION 1265.130.
Appears in 1 contract
Sources: Lease Agreement (Quadramed Corp)
Partial Condemnation. If more than twenty percent (20%) any part of the Leased Premises is appropriated shall be acquired or condemned by eminent domaindomain for any public or quasi-public use or purpose, and in the event that such partial taking or if such portion condemnation shall render the Leased Premises unsuitable for the business of the Land or Building is appropriated or condemned which materially affects the ability of Lessee physically to operate its business and Lessor is unable to remodel in such a way as to restore the PremisesTenant, then Lessor and Lessee both shall have the right to terminate term of this Lease upon notice to the other party within thirty (30) days after being notified of the appropriation or condemnation. This Lease shall be deemed terminated cease and terminate as of the date title or on which possession shall of the Demised Premises is required to be transferred surrendered to the condemning authority, whichever authority and Tenant shall first occurhave no claim against Landlord nor the condemning authority for the value of any unexpired term of this Lease. If less than twenty percent (20%) In the event of a partial taking or condemnation which is not extensive enough to render the Premises is appropriated or condemned or if such portion premises unsuitable for the business of the Land or Building is appropriated or condemned which does not affect Lessee's ability to operate its business, or if neither party elects to terminate the Lease as provided hereinTenant, then Lessor Landlord shall promptly shall restore the Leased Premises to the extent of condemnation proceeds available for such purpose to a condition comparable to its their condition at the time of the appropriation or condemnation, such condemnation less the portion lost in the appropriation or condemnationtaking, and this Lease shall continue in full force and effect; provided, however, effect and the Base Fixed Minimum Rent and Lessee's Share all additional rent shall abate proportionately. For purposes of Expenses due hereunder shall determining the amount of fun▇▇ ▇▇▇▇▇, as ailable for restoration of the date title or possession shall Leased Premises from the condemnation award said amount will be transferred deemed to the condemning authority, whichever shall first occur, to an amount equal to the base rent otherwise payable multiplied by a fraction, the numerator of which is the square footage of space remaining in the Premises and the denominator of which is the square footage of space originally be that part of the award which remains after payment of Landlord's reasonable expenses incurred in recovering same and of any amounts due to any mortgagee of Landlord, and which represents a portion of the total sum so available (excluding any award or other compensation for land) which is equitably allocable to the Leased Premises.
Appears in 1 contract
Partial Condemnation. (a) Lessee shall provide to Lessor promptly after receipt notice of any eminent domain or condemnation action asserted or threatened by any Governmental Authority and affecting all or any part of the Premises. Lessor and Lessee shall cooperate in good faith with respect to any such eminent domain or condemnation action. If more than twenty percent (20%) any material part of the Premises is appropriated or condemned by eminent domain, or if such portion (but less than the whole of the Land Premises) is acquired or Building condemned, and if in Lessee’s reasonable opinion such partial taking or condemnation renders the Premises unsuitable for the business of Lessee, then Lessee shall notify Lessor of the same. Following receipt of such notice, Lessor and Lessee shall cooperate in good faith to determine whether there is appropriated or condemned which materially affects another part of the ability of Salt Lake Refinery Site that can be used by Lessee physically to operate conduct its business with the Facilities. If Lessor and Lessor is unable Lessee reach an agreement regarding any such replacement location, then the Parties shall execute an amendment to remodel this Lease which substitutes such new location in lieu of the Premises. If within 60 days following Lessor’s receipt of such notice the Parties have not reached an agreement regarding a way as location to restore substitute for the Premises, then Lessor and Lessee both shall have the right to may terminate this Lease upon by giving written notice to the Lessor. All rentals and other party within thirty (30) days after being notified of the appropriation or condemnation. This Lease charges owing hereunder shall be deemed terminated prorated as of the date title or possession shall be transferred to the condemning authority, whichever shall first occur. If less than twenty percent (20%) of the Premises is appropriated or condemned or if such portion of the Land or Building is appropriated or condemned which does not affect Lessee's ability to operate its business, or if neither party elects to terminate the Lease as provided herein, then Lessor promptly shall restore the Premises to a condition comparable to its condition at the time of the appropriation or condemnation, less the portion lost in the appropriation or condemnation, and this Lease shall continue in full force and effect; provided, however, the Base Rent and Lessee's Share of Expenses due hereunder shall ▇▇▇▇▇, as of the date title or possession shall be transferred to the condemning authority, whichever shall first occur, to an amount equal to the base rent otherwise payable multiplied by a fraction, the numerator of which is the square footage of space remaining in the Premises and the denominator of which is the square footage of space originally part of the Premisestermination date.
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Partial Condemnation. If more than twenty percent (20%) any part of the Leased Premises is appropriated shall be acquired or condemned by eminent domainas aforesaid or sold in anticipation thereof, and in the event that such partial sale, taking or if such portion condemnation shall render the remainder of the Land or Building is appropriated or condemned which materially affects Leased Premises unsuitable for the ability business of Lessee physically to operate its business and Lessor is unable to remodel in such a way as to restore the PremisesTenant, then Lessor and Lessee both shall have the right to terminate term of this Lease upon notice to the other party within thirty (30) days after being notified of the appropriation or condemnation. This Lease shall be deemed terminated cease and terminate as of the date of title vesting in such proceeding or possession delivery of possession, whichever is sooner. Tenant shall have no claim against Landlord for the value of any unexpired term of this Lease, and rent shall be transferred adjusted to the condemning authoritydate of such termination. In the event of a partial taking, whichever shall first occur. If less than twenty percent (20%) sale or condemnation which does not render the remainder of the Premises is appropriated or condemned or if such portion unsuitable for the business of the Land or Building is appropriated or condemned which does not affect Lessee's ability to operate its business, or if neither party elects to terminate the Lease as provided hereinTenant, then Lessor Landlord shall promptly shall restore the Leased Premises to a condition comparable to its condition at the time of the appropriation or condemnation, such condemnation less the portion lost in the appropriation or condemnationtaking, and this Lease shall continue in full force and effect; provided, however, that
(A) the Base Rent and Lessee's Share of Expenses due hereunder fixed minimum rent shall ▇▇▇▇▇be abated proportionately as to the Premises taken,
(B) in making such restoration, as Landlord shall not be obligated to expend any amount in excess of the date title or possession amount of the condemnation improvement award received by Landlord, and
(C) the term hereof shall be transferred to the condemning authority, whichever shall first occur, to an amount extended for a period equal to the base rent otherwise payable multiplied by a fraction, the numerator period of which is the square footage of space remaining in the Premises and the denominator of which is the square footage of space originally part restoration under all of the Premisesterms, covenants and conditions of this Lease, including without limitation Tenant's obligation to pay rent and additional rent. The proportionate abatement of rental shall be based upon square feet of leased area.
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Partial Condemnation. If more than twenty percent (20%) any portion of the Premises is appropriated shall be taken for a public or condemned by quasi-public use or purpose under the power of eminent domain, or transferred under threat thereof, and such partial taking may reasonably be construed to render the remainder of the Premises unsuitable for the business of Tenant, Tenant shall be entitled either to elect to cancel and terminate this lease as of the date actual physical possession of said portion shall be so taken by the condemning authority, or to remain in possession of the remainder of the Premises not so taken; provided, however, that Tenant shall give Landlord written notice of its election within ten (10) days after the date of Landlord's notification to Tenant of the pending partial condemnation, and failing to do so, Tenant shall be deemed to have elected to remain in possession. In the event Tenant shall elect or be deemed to have elected to remain in possession, or if the portion of the Premises so taken shall not be so extensive as may reasonably be construed to render the remainder of the Premises unsuitable for the business of Tenant, then and in either such event, if any portion of the total award is made for a taking of any portion of the Premises, Landlord shall (but only out of and not exceeding such portion of the Land award received by Landlord for or Building is appropriated on account of such taking) repair, reconstruct or condemned which materially affects the ability of Lessee physically to operate its business and Lessor is unable to remodel in such a way as to restore the Premises, then Lessor and Lessee both shall have the right to terminate this Lease upon notice to the other party within thirty (30) days after being notified of the appropriation or condemnation. This Lease shall be deemed terminated as of the date title or possession shall be transferred to the condemning authority, whichever shall first occur. If less than twenty percent (20%) remainder of the Premises (including the building which is appropriated or condemned or if such portion of the Land or Building is appropriated or condemned which does not affect Lessee's ability to operate its business, or if neither party elects to terminate the Lease as provided herein, then Lessor promptly shall restore the Premises to a condition comparable part thereof) to its condition at the time as it existed immediately prior to such taking (and tenant shall not be entitled to any damages by reason of the appropriation any inconvenience or condemnationloss sustained by Tenant as a result thereof) and, less the portion lost in the appropriation or condemnationexcept as otherwise herein provided, and this Lease shall continue in all respects in full force and effect; provided, however, the Base Rent and Lessee's Share of Expenses due hereunder shall ▇▇▇▇▇, as of the date title or possession shall be transferred to the condemning authority, whichever shall first occur, to an amount equal to the base rent otherwise payable multiplied by a fraction, the numerator of which is the square footage of space remaining in the Premises and the denominator of which is the square footage of space originally part of the Premises.
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Sources: Office Building Lease (Colorado Business Bankshares Inc)
Partial Condemnation. If more than twenty percent (20%) of the Premises this Sublease is appropriated or condemned by eminent domainnot terminated following any such Condemnation as set forth above, or if such portion of the Land or Building is appropriated or condemned which materially affects the ability of Lessee physically to operate its business and Lessor is unable to remodel in such a way as to restore the Premises, then Lessor and Lessee both this Sublease shall have the right to terminate this Lease upon notice to the other party within thirty (30) days after being notified of the appropriation or condemnation. This Lease shall be deemed terminated as of the date title or possession shall be transferred to the condemning authority, whichever shall first occur. If less than twenty percent (20%) of the Premises is appropriated or condemned or if such portion of the Land or Building is appropriated or condemned which does not affect Lessee's ability to operate its business, or if neither party elects to terminate the Lease as provided herein, then Lessor promptly shall restore the Premises to a condition comparable to its condition at the time of the appropriation or condemnation, less the portion lost in the appropriation or condemnation, and this Lease shall continue remain in full force and effect; provided. In such event, howeverSublessor shall use its best efforts to cause Master Lessor to comply with its obligation to repair, alter or restore the Sublease Premises under Article XI of the Master Lease. Subject to Master Lessor's obligations under the Master Lease, Sublessee shall repair, restore or rebuild the Sublease Premises as nearly as practicable to substantially the condition in which the Sublease Premises existed immediately prior to such Condemnation, provided that Sublessor shall make available to Sublessee for such purpose that portion of the Condemnation award allowed for physical damage to that portion of the Sublease Premises not taken in such Condemnation. Sublessee hereby waives the provisions of any applicable statute or principal of law or equity permitting termination this Sublease upon Condemnation. To the extent Sublessor receives any rental reduction under the Master Lease attributable to the Sublease Premises, the Monthly Base Rent and Lessee's Share of Expenses due hereunder shall ▇▇▇▇▇, as of the date title or possession shall be transferred reduced in the same proportion (i.e., the proportion which the reduction attributable to the condemning authority, whichever shall first occur, to an amount equal Sublease Premises bears to the base total rent otherwise attributable to the Sublease Premises under the Master Lease). Unless this Sublease shall terminate as a result of any Condemnation, there shall be no abatement of Rent payable multiplied by Sublessee hereunder as a fraction, the numerator result of which is the square footage of space remaining in the Premises and the denominator of which is the square footage of space originally part of the Premisesany Condemnation.
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