Common use of Portion of Premises Clause in Contracts

Portion of Premises. In the event of a Taking of thirty percent (30%) or more of the Premises, if Tenant determines in good faith that the Taking will have a permanent, material, adverse effect on Tenant’s operations at the Premises, Tenant may, at any time either prior to or within sixty (60) days after the date the condemning authority takes possession of the applicable portion of the Premises, elect to terminate this Lease by delivering a written termination notice to Landlord. If Tenant fails to exercise such termination option, or if such option does not apply to a Taking, (i) Landlord shall, subject to Section 18.4, cause Restoration to be completed as soon as reasonably practicable, but in no event later than ninety (90) days after the date the condemning authority takes possession of the applicable portion of the Premises (subject to an extension for Excusable Delays, not to exceed sixty (60) days), and (ii) the Basic Rent and Additional Rent payable will be equitably prorated during the time Landlord is performing any Restoration, based upon the rentable square footage of the Premises that is untenantable at such time; and thereafter based upon the rentable square footage of the Premises actually taken.