Taking Defined Sample Clauses
The "Taking Defined" clause establishes what constitutes a "taking" under the agreement, typically in the context of eminent domain or government acquisition of property. It clarifies the specific actions or events—such as the formal condemnation of property, physical appropriation, or regulatory actions—that will be considered a taking. By providing a clear definition, this clause ensures all parties understand when compensation or other contractual remedies may be triggered, thereby reducing ambiguity and potential disputes regarding property rights.
POPULAR SAMPLE Copied 1 times
Taking Defined. “Taking” shall mean any acquisition of or damage to all or any portion of the Premises, or any interest therein or right accruing thereto, pursuant to or in anticipation of the exercise of the power of condemnation or eminent domain, or by reason of the temporary requisition of the use or occupancy of the Premises, or any part thereof, by any governmental or quasi governmental authority, civil or military, or any other agency empowered by law to take property in the State of California under the power of eminent domain.
Taking Defined. The term “taking” or “taken” as used in this Article 11 shall mean any transfer or conveyance of all or any portion of the Property to a public or quasi-public agency or other entity having the power of eminent domain pursuant to or as a result of the exercise of such power by such an agency, including any inverse condemnation and/or any sale or transfer by Landlord of all or any portion of the Property to such an agency under threat of condemnation or the exercise of such power.
Taking Defined. For the purpose of this Article, all references to a taking, or to a taking having had occurred, shall include a negotiated sale or lease and transfer of possession to a condemning authority under bona fide threat of condemnation for public use. Landlord alone shall have the right to negotiate with the condemning authority and conduct and settle all litigation connected with the condemnation. As used in this Article, the words “award or damages” shall, in the event of such sale or settlement, include the purchase or settlement price.
Taking Defined. If there is any taking of all or any part of the -------------- Premises or Shopping Center or access roads, to Shopping Center because of the exercise of the power of eminent domain, whether by condemnation proceedings or otherwise, or any transfer of any part of the Premises or of Shopping Center or access roads to Shopping Center made in avoidance of the exercise of the power of eminent domain (all of the foregoing being hereinafter referred to as a "taking") during the Lease Term, the rights and obligations of the parties with respect to such taking shall be as provided in this Section 16.
Taking Defined. For the purposes of this Lease, all amounts payable pursuant to any agreement with any condemning authority which has been made in settlement of or under threat of any Big 5, Fontana, CA 2-12-96 (8) condemnation or other eminent domain proceeding affecting the Demised Premises shall be deemed to constitute an award made in such proceeding.