Common use of Taking of Premises Clause in Contracts

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.