Taking of Premises Clause Samples

Taking of Premises. If all or any part of the Premises or the ------------------ Building is taken by means of (i) any taking by the exercise of the power of eminent domain, whether by legal proceedings or otherwise, (ii) a voluntary sale or transfer by Landlord to any condemnor under threat of condemnation or while legal proceedings for condemnation are pending, or (iii) any taking by inverse condemnation (a "Condemnation"), and any portion of the Premises or the Building cannot be reconstructed within a reasonable period of time and thereby made reasonably suitable for Tenant's continued occupancy for the Permitted Use, then Tenant shall have the option to terminate this Lease. Any such option to terminate by Tenant must be exercised within a reasonable period of time, to be effective as of the date that possession of the Premises is taken by the condemnor.

Taking of Premises. If all or any part of the Premises is taken by any public or quasi public authority as a result of the exercise of the power of eminent domain, this Lease shall terminate as to the part so taken as of the date of taking, and, in the case of a partial taking, either Landlord or Tenant shall have the right to terminate this Lease as to the balance of the Premises by written notice to the other within thirty (30) days after the date of such taking, provided, however, that a condition to the exercise by Tenant of such right to terminate shall be that the portion of the Premises taken shall, in Landlord’s judgment, be of such extent and nature as substantially to handicap, impede and impair Tenant’s use of the balance of the Premises. If a material part of the Premises is condemned or taken or if substantial alteration or reconstruction of the Premises shall, in Landlord’s opinion, be necessary or desirable as a result of such condemnation or taking, Landlord may terminate this Lease by written notice to Tenant within thirty (30) days after the date of taking.

Taking of Premises. If the whole of the Premises or the Building is taken (which term, as used in this Article, shall include any conveyance in avoidance or settlement of eminent domain, condemnation or other similar proceedings) by any governmental authority, corporation or other entity under the right of eminent domain, condemnation or similar right, or if there shall occur any partial taking of the Premises or the Building such that Tenant cannot continue to conduct its business in a manner which Tenant deems desirable, then this Lease shall, at Tenant’s sole option, terminate as of the date of the taking of possession by the condemning authorities. Upon such termination, the net proceeds of any award received by reason of such taking shall, notwithstanding anything to the contrary in Section 10.2. be released first, to Tenant in an amount equal to the unamortized cost of the Improvements (assuming that the Improvements are amortized over the Term of the Lease). Except as otherwise provided herein, in the event of a taking, and whether or not this Lease is terminated, Tenant shall have no claim with respect to the award or payment for the value of the unexpired Term. Tenant may interpose and prosecute in any proceeding with respect to the taking (which, if permitted in the jurisdiction, shall be independent of any claim of Landlord) claims for the value of Tenant’s trade fixtures, damages for interruption or dislocation of business in the Premises and loss of goodwill, and moving and remodeling expenses. If such conditions to termination are not met, then this Lease shall continue in full force and effect, and in such event, the net proceeds of any award received by reason of such condemnation shall, notwithstanding any provision to the contrary in Section 10.2, be released first to Tenant to pay for the costs of repairing and reconstructing the Building and the Premises, including all other Improvements, alterations, fixtures and personal property of Tenant, with any balance of such award not needed by Tenant to repair and reconstruct released to Landlord. Following such a taking, the Base Rent shall be proportionally reduced to reflect the amount of the Premises so taken.

Taking of Premises. Landlord shall have the option to terminate this Lease if as a result of a taking by means of the exercise of the power of eminent domain (including a voluntary sale or transfer by Landlord to a condemnor under threat of condemnation), (i) all or any part of the Premises or any material portion of the Project is so taken, or (ii) more than ten percent (10%) of the Common Area is so taken. Tenant shall have the option to terminate this Lease if any material part of the Premises or parking area is taken by the exercise of the power of eminent domain (or conveyed by Landlord in lieu of that exercise), and the remaining portion cannot be made suitable for the continued use and operation of the Premises by Tenant for substantially the same purposes as immediately prior to such taking. Any such option to terminate by Landlord or Tenant must be exercised within a reasonable period of time after the condemnor has commenced judicial action or entered into a binding agreement to effect such taking. If Landlord or Tenant so exercises such option to terminate, such termination shall be effective as of the date possession is taken by the condemnor.

Taking of Premises. If all or any portion of the Premises shall be taken by any public or quasi-public authority as a result of the exercise of the power of eminent domain (which shall include a voluntary sale or transfer by Landlord of all or any portion of the Premises under threat of condemnation), this Lease shall terminate as to the part so taken as of the date of taking, and, in the case of a partial taking which, in the reasonable judgment of Tenant, materially impairs Tenant's ability to conduct its business on the remainder of the Premises, Tenant shall have the right to terminate this Lease as to the remainder of the Premises by written notice given to Landlord within thirty (30) days after the date of such taking. If a material portion of the Building or the Project is taken or if substantial alteration or reconstruction of the Premises, the Building and/or the Project will, in Landlord's reasonable judgment, be necessary or desirable as a result of such condemnation or taking, Landlord may terminate this Lease by written notice given to Tenant within thirty (30) days after the date of such taking.

Taking of Premises. If all or any part of the Premises shall be taken by any public or quasi public authority as a result of the exercise of the power of eminent domain, this Lease shall terminate as to the part so taken as of the date of taking, and, in the case of partial taking, either Landlord or Tenant shall have the right to terminate this Lease as to the balance of the Premises by written notice to the other within thirty (30) days after the date of such taking; provided, however, that a condition to the exercise by Landlord or Tenant of such right to terminate shall be that the portion of the Premises taken shall, in Tenant's and Landlord's commercially reasonable judgment, be of such extent and nature as substantially to handicap, impede and impair Tenant's use of the balance of the Premises. If a material part of the Building or the Common Areas are condemned or taken, or if substantial alteration or reconstruction of the Building or Common Areas shall, in Landlord's reasonable opinion, be necessary as a result of such condemnation or taking, Landlord may terminate this Lease by written notice to Tenant within thirty (30) days after the date of taking. If a material part of the Building or the Common Areas are condemned or taken, and Tenant reasonably determines that it is unable to continue to operate the Premises in the same manner following such condemnation or taking, Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the date of taking.

Taking of Premises. If all or any part of the Premises is taken by any public or quasi public authority as a result of the exercise of the power of eminent domain, this Lease shall terminate as to the part so taken as of the date of taking, and, in the case of a partial taking, either Landlord or Tenant shall have the right to terminate this Lease as to the balance of the Premises by written notice to the other within thirty (30) days after the date of such taking, provided, however, that a condition to the exercise by Tenant of such right to terminate shall be that the portion of the Premises taken shall, in Tenant’s judgment, be of such extent and nature as substantially to handicap, impede and impair Tenant’s use of the balance of the Premises. If a material part of the Building is condemned or taken or if substantial alteration or reconstruction of the Building shall, in Landlord’s opinion, be necessary or desirable as a result of any condemnation or taking, Landlord may terminate this Lease by written notice to Tenant within thirty (30) days after the date of taking. Notwithstanding any of the provisions hereof to the contrary, if all of the Premises shall be temporarily condemned or taken for governmental occupancy for a period of more than one year, this Lease shall terminate as of the date of taking and Landlord shall be entitled to any and all compensation, damages, income, rent and awards in connection therewith.

Taking of Premises. A. If any portion of the Premises shall be taken under the power of eminent domain by any public or quasi-public authority (a "taking"), either party shall have the right to terminate this Lease as of the date physical possession of the property taken is delivered to the condemning authority (hereinafter referred to as the "effective date of the taking") by giving notice to the other party of such election within thirty (30) days after the effective date of the taking. B. Subject to the provisions of the Air Rights Lease as described in Section 14.6, if there is a taking of a portion of the Premises and this Lease shall not be terminated pursuant to Section 12.1 (A), then (i) as of the effective date of the taking, this Lease shall terminate only with respect to the portion taken; (ii) after the effective date of the taking and during the balance of the Term, the Minimum Rent, and the Full and Partial Year Breakpoints, if any, shall be reduced by multiplying the same by a fraction, the numerator of which shall be the floor space not so taken and the denominator of which shall be the floor space of the Premises immediately prior to the taking; (iii) as soon as reasonably possible after the effective date of the taking, Landlord shall, at its expense and to the extent feasible, restore the remaining portion of the Premises to a complete Unit; provided, however, that Landlord shall not be required to expend more on such alteration or restoration work than an amount equal to the net proceeds of the condemnation award actually received and retained by Landlord which is allocable to the Premises.

Taking of Premises. If the fee in the whole or any part of the demised premises shall be taken for any public or any quasi-public use under any statute or by right of eminent domain, or by conveyance to such public or quasi-public authority in liew thereof, then Landlord or Tenant may terminate this lease as of the date that title shall be so taken.