Common use of Taking of Common Area Clause in Contracts

Taking of Common Area. Tenant shall have the option to terminate this Lease if there is a taking of any part of the Common Area which serves the Building and, as a result of such taking: (i) Landlord cannot provide Tenant with access to the Property and the non-exclusive right to use parking spaces within a reasonable walking distance of the Leased Premises, equal in number to at least eighty percent (80%) of the number of spaces allocated to Tenant’s use by section 2.1 of this Lease, whether by rearrangement of the remaining parking areas in the Common Area (including re-stripping for compact cars where permitted by Law), or by alternative parking facilities on other land of Landlord within reasonable walking distance of the Leased Premises; or (ii) Tenant’s use of the Leased Premises is materially and adversely affected by reason of a taking of loading docks or loading areas serving the Leased Premises. Tenant must exercise such option within a reasonable period of time, to be effective on the date that possession of that portion of the Common Area that is condemned is taken by the condemnor. Neither party shall have any further obligations under this Lease after such termination, except for Landlord’s obligation to return the Prepaid Rent (if applicable) and the Security Deposit (less any permitted deductions) to Tenant.

Taking of Common Area. Tenant shall have the option to terminate this Lease if there is a taking of any part of the Common Area which serves the Building and, as a result of such taking: (i) Landlord cannot provide Tenant with access to the Property and the non-exclusive right to use parking spaces within a reasonable walking distance of the Leased Premises, equal in number to at least eighty percent (80%) of the number of spaces allocated to Tenant’s use by section 2.1 of this Lease, whether by rearrangement of the remaining parking areas in the Common Area (including re-stripping for compact cars where permitted by Law), or by alternative parking facilities on other land of Landlord within reasonable walking distance of the Leased Premises; or (ii) Tenant’s use of the Leased Premises is materially and adversely affected by reason of a taking of loading docks or loading areas serving the Leased Premises. Tenant must exercise such option within a reasonable period of time, to be effective on the date that possession of that portion of the Common Area that is condemned is taken by the condemnor. Neither party shall have any further obligations under this Lease after such termination, except for Landlord’s obligation to return the Prepaid Rent (if applicable) and the Security Deposit (less any permitted deductions) to Tenant.