Common use of Taking Clause in Contracts

Taking. In case the whole of the Premises, or such part thereof or of the Building Property as shall substantially interfere with Tenant’s use and occupancy thereof, shall be taken by any lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within ninety (90) days after receipt of notice of such taking, either Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority. If such portion of the Building Property is so taken or sold so as to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occur. Except as provided herein, Tenant shall not because of such taking assert any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for the value of any unexpired portion of the Term of this Lease, other than for prepaid Rent. If the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use of the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 3 contracts

Sources: Office Lease (New Century Financial Corp), Office Lease (New Century Financial Corp), Office Lease (New Century Financial Corp)

Taking. In case the whole If all of the PremisesPremises are taken by Eminent Domain, or such part thereof or this Lease shall terminate as of the Building Property as date Tenant is required to vacate the Premises and all Base and Additional Rent shall substantially interfere with Tenant’s use be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and occupancy any purchase or acquisition in lieu thereof, shall be taken whether the damaging or taking is by government or any lawful power or authority by exercise other person. If, in the reasonable judgment of Landlord, a taking of any part of the right Premises by Eminent Domain renders the remainder thereof unusable for the business of eminent domainTenant (or the cost of restoration of the Premises is not commercially reasonable), or sold the Lease may, at the option of either party, be terminated by written notice given to prevent such taking, within ninety the other party not more than thirty (9030) days after receipt of Landlord gives Tenant written notice of such the taking, either Tenant or Landlord may terminate this Lease and such termination shall be effective as of the date possession when Tenant is required to be surrendered to said authority. If such vacate the portion of the Building Property Premises so taken. If this Lease is so taken or sold so as terminated, all Base and Additional Rent shall be paid to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord termination. Whenever any portion of the date on which said vesting will occur. Except as provided hereinPremises is taken by Eminent Domain and this Lease is not terminated, Tenant Landlord shall not because at its expense proceed with all reasonable dispatch to restore, to the extent of such taking assert any claim against Landlord or available proceeds and to the taking authority for any compensation because extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be entitled reduced from the date Tenant is required to receive partially vacate the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for Premises in the value of any unexpired portion of same proportion that the Term of this Lease, other than for prepaid Rent. If Rentable Area taken bears to the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use total Rentable Area of the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 3 contracts

Sources: Lease Agreement (Helix Biomedix Inc), Lease Agreement (Auteo Media Inc), Lease Agreement (Helix Biomedix Inc)

Taking. In case the whole of the Premises, or such part thereof or of the Building Property as shall substantially interfere with Tenant’s 's use and occupancy thereof, shall be taken by any lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within ninety sixty (9060) days after of receipt of notice of such taking, either Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority. If such portion of the Building Property is so taken or sold so as to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable unviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occur. Except as provided herein, Tenant shall not because of such taking assert any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for In the value of any unexpired portion of the Term of this Lease, other than for prepaid Rent. If event the amount of property or the type of estate taken shall not substantially interfere with Tenant’s 's use of the Premises and this Lease has not been terminatedPremises, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in Tenant. In such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 3 contracts

Sources: Office Lease (Vestin Group Inc), Office Lease (Vestin Group Inc), Office Lease (Vestin Group Inc)

Taking. In case the whole of the Premises, or such part thereof or of the Building Property as shall substantially interfere with Tenant’s use and occupancy of the entirety thereof, shall be taken by any lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within ninety sixty (9060) days after receipt delivery of notice of such taking, either Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority. If such portion of the Building Property or Project is so taken or sold in lieu thereof so as to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property or Project economically inviable unviable for its use as presently intended, or any Landlord’s Mortgagee requires cancellation of substantially all tenant leases in the Buildingthat Landlord terminate this Lease, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occur. Except as provided herein, Tenant shall not because of such taking assert any claim against Landlord or the taking authority any Landlord’s Mortgagee for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenantmade to Landlord. Tenant shall have no claim against Landlord for In the value of any unexpired portion of the Term of this Lease, other than for prepaid Rent. If the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use of the Premises and event this Lease has is not been terminatedterminated pursuant to this Section 14.1, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises Building to substantially their condition prior to such partial taking, and the Base Rent and Tenant’s Pro Rata Share of Operating Expenses shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so is actually deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 Section shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any a separate award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or Tenant, for relocation or business interruption expenses recoverable from the taking authority, loss of business or goodwill, for the taking of Tenant’s trade fixtures, the Tenant Improvements, Tenant’s leasehold estate, the cost of relocating Tenant and/or disruption of Tenant’s business, so long as Tenant’s award does not diminish Landlord’s award.

Appears in 2 contracts

Sources: Office Lease (YETI Holdings, Inc.), Office Lease (YETI Holdings, Inc.)

Taking. In case the whole of the Premises, or such part thereof or of the Building Property as shall substantially interfere with Tenant’s use and occupancy thereof, shall be taken by any lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within ninety (90) 60 days after receipt of notice of such taking, either Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority. If such portion of the Building or Property is so taken or sold so as to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building or Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) 60 days following notice to Landlord of the date on which said vesting will occur. Except as provided herein, Tenant shall not because of such taking assert any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for the value of any unexpired portion of the Term of this Lease, other than for prepaid Rent. If the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use of the Premises and this Lease has not been terminatedPremises, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in Tenant. In such event, Landlord shall promptly proceed to restore the Premises and the Building to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority. Notwithstanding that the entire Premises are not condemned or taken for any public or quasi-public use or purpose, Tenant shall have the right to terminate this Lease in the event that (i) a portion of the Premises is taken such that the remaining portion of the Premises cannot be used for its intended purposes, as reasonably determined by Tenant; (ii) access to the Building is taken; (iii) vehicular access to the Garage is taken; or (iv) the existing parking spaces leased to Tenant are taken (unless Landlord replaces the lost parking spaces with new parking spaces within reasonable proximity to the Building).

Appears in 2 contracts

Sources: Loan Agreement (Thomas Properties Group Inc), Office Lease (Lincoln National Corp)

Taking. In case the whole If all of the PremisesPremises are taken by Eminent Domain, or such part thereof or this Lease shall terminate as of the Building Property as date Tenant is required to vacate the Premises and all Base and Additional Rent shall substantially interfere with Tenant’s use be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and occupancy any purchase or acquisition in lieu thereof, shall be taken whether the damaging or taking is by government or any lawful power or authority by exercise other person. If, in the reasonable judgment of Landlord, a taking of any part of the right Premises by Eminent Domain renders the remainder thereof unusable for the business of eminent domainTenant (or the cost of restoration of the Premises is not commercially reasonable), or sold the Lease may, at the option of either party, be terminated by written notice given to prevent such taking, within ninety the other party not more than thirty (9030) days after receipt of Landlord gives Tenant written notice of such the taking, either Tenant or Landlord may terminate this Lease and such termination shall be effective as of the date possession when Tenant is required to be surrendered to said authority. If such vacate the portion of the Building Property Premises so taken. If this Lease is so taken or sold so as terminated, all Base and Additional Rent shall be paid to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord termination. Whenever any portion of the date on which said vesting will occur. Except as provided hereinPremises is taken by Eminent Domain and this Lease is not terminated, Tenant Landlord shall not because at its expense proceed with all reasonable dispatch to restore, to the extent of such taking assert any claim against Landlord or available proceeds issued from the taking governmental authority for any compensation because and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be entitled reduced from the date Tenant is required to receive partially vacate the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for Premises in the value of any unexpired portion of same proportion that the Term of this Lease, other than for prepaid Rent. If Rentable Area taken bears to the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use total Rentable Area of the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 2 contracts

Sources: Office Lease Agreement (F5 Networks Inc), Office Lease Agreement (F5 Networks Inc)

Taking. (a) In case the whole of event that the PremisesParking Facility, or such any part thereof thereof, or of the Building Property as shall substantially interfere with Tenant’s use and occupancy thereofaccess thereto, shall be taken by any lawful power in condemnation proceedings or authority by exercise of the any right of eminent domain, domain or sold by agreement (such as deed in lieu of an eminent domain action) between Landlord and those authorized to prevent exercise such right (any such matters being hereinafter referred to as a “taking, within ninety (90) days after receipt of notice of such taking, either Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority. If such portion of the Building Property is so taken or sold so as to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occur. Except as provided herein”), Tenant shall not because of such taking assert any claim against Landlord or be deemed to have assigned to Landlord, immediately before the taking authority for any compensation because of such taking, and Landlord shall be entitled Tenant’s rights, if any, to receive the entire amount of participate in any award without deduction for such condemnation proceedings. (b) If at any estate or interest of Tenant. Tenant shall have no claim against Landlord for the value of any unexpired portion of time during the Term of this Lease, other than for prepaid Rent. If the amount of property or the type of estate taken Lease there shall not substantially interfere with Tenant’s use be a taking of the Premises and whole or substantially all of the Parking Facility, this Lease has not been terminated, Landlord shall be entitled to terminate and expire immediately before the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, taking and the Rent shall be abated in proportion apportioned and paid to the time during which, and to date of such taking. For the part purposes of this Article “substantially all of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 Parking Facility” shall be deemed to give have been taken if as a result of the taking, Tenant is unable to use for its intended purpose, in a commercially reasonable manner, any portion of the Parking Facility that Tenant has a right to use under this Lease. (c) If this Lease shall continue after any such taking, this Lease shall remain unaffected except that the Basic Rent shall be reduced proportionately in accordance with the number of Leased Spaces taken or which Tenant does not have use of in accordance with this Lease. If the Parking Facility is only partially usable after any such taking, then the Landlord any interest inshall have the authority to reallocate parking spaces throughout the Facility, or prevent Tenant from seeking any award against and to determine which parking spaces in the taking authority for, the taking of personal property and fixtures belonging to Tenant or Facility will be available for relocation or business interruption expenses recoverable from the taking authoritythose purposes.

Appears in 2 contracts

Sources: Parking Lease Agreement, Parking Lease Agreement

Taking. In case If the whole Premises are taken by condemnation or right of eminent domain then this Lease shall terminate as of the Premisesdate that Tenant has been deprived of possession. If, or however, less than all the Premises has been taken by eminent domain but there has been taken such part portion thereof or as to render the balance (when reconstructed) unsuitable for the purposes of the Building Property as shall substantially interfere with Tenant’s use and occupancy thereof, Tenant shall be taken by any lawful power condemnation or authority by exercise of the right of eminent domain, or sold if access to prevent the Premises is materially, adversely and permanently affected by such a taking or if more than ten (10) parking spaces allocated to Tenant's use are taken by such condemnation or right of eminent domain and Landlord promptly does not provide alternative spaces to Tenant reasonably acceptable to Tenant, Tenant, upon written notice to the Landlord, shall be entitled to terminate this lease, provided that such notice is given not later than thirty (30) days after the Tenant has been deprived of possession. For the purposes of this Article, any deed or other transfer of title in lieu of any such taking shall be treated as such a taking. Moreover, for the purposes of this Article, such a taking of the Tenant's entire leasehold interest hereunder in the Premises (or assignment or termination in lieu thereof) shall be treated as a taking of the entire Premises, and in such event the Tenant shall be treated as having been deprived of possession on the effective date thereof. Should any part of the Premises be so taken or condemned, and should this Lease not be terminated in accordance with the foregoing provision, the Landlord covenants and agrees within a reasonable time after such taking or condemnation, and the determination of the Landlord's award therein, to expend so much as may be necessary of the net amount which may be awarded to the Landlord in such condemnation proceedings, in restoring the Premises to an architectural unit as nearly like their condition prior to such taking as shall be practicable. Should the net amount so awarded to the Landlord be insufficient to cover the cost of restoring the Premises, as estimated by the Landlord's architect, the Landlord may, but shall not be obligated to, supply the amount of such insufficiency and restore the Premises as above provided, with all reasonable diligence, or terminate this Lease. Where the Tenant has not already exercised any right of termination accorded to it under the foregoing portion of this paragraph, the Landlord shall notify the Tenant of the Landlord's election not later than ninety (90) days after receipt the final determination of notice of such taking, either Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority. If such portion of the Building Property is so taken or sold so as to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occur. Except as provided herein, Tenant shall not because of such taking assert any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for the value of any unexpired portion of the Term of this Lease, other than for prepaid Rent. If the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use of the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authorityaward.

Appears in 2 contracts

Sources: Office Lease (Keane Inc), Office Lease (Keane Inc)

Taking. In case the whole If all of the PremisesPremises are taken by Eminent Domain, or such part thereof or this Lease shall terminate as of the Building Property as date Tenant is required to vacate the Premises and all Minimum and Additional Rent shall substantially interfere with Tenant’s use be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and occupancy any purchase or acquisition in lieu thereof, shall be taken whether the damaging or taking is by government or any lawful power or authority by exercise other person. If, in the reasonable judgment of Landlord, a taking of any part of the right Premises by Eminent Domain renders the remainder thereof unusable for the business of eminent domainTenant (or the cost of restoration of the Premises is not commercially reasonable), or sold the Lease may, at the option of either party, be terminated by written notice given to prevent such taking, within ninety the other party not more than thirty (9030) days after receipt of Landlord gives Tenant written notice of such the taking, either Tenant or Landlord may terminate this Lease and such termination shall be effective as of the date possession when Tenant is required to be surrendered to said authority. If such vacate the portion of the Building Property Premises so taken. If this Lease is so taken or sold so as terminated, all Minimum and Additional Rent shall be paid to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord termination. Whenever any portion of the date on which said vesting will occur. Except as provided hereinPremises is taken by Eminent Domain and this Lease is not terminated, Tenant Landlord shall not because at its expense proceed with all reasonable dispatch to restore, to the extent of such taking assert any claim against Landlord or available proceeds and to the taking authority for any compensation because extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Minimum and Additional Rent payable hereunder shall be entitled reduced from the date Tenant is required to receive partially vacate the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for Premises in the value of any unexpired portion of same proportion that the Term of this Lease, other than for prepaid Rent. If Rentable Area taken bears to the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use total Rentable Area of the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 1 contract

Sources: Lease Agreement (Sonosight Inc)

Taking. In case the whole If all of the PremisesPremises are taken by Eminent Domain, this Lease shall terminate as of the date Lessee is required to vacate the Premises and all Rent and Additional Charges shall be paid to that date. The term "Eminent Domain" shall include the taking or such damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If a taking of any part thereof or of the Building Property as shall substantially interfere with Tenant’s use and occupancy thereof, shall be taken or the Premises by any lawful power or authority by exercise Eminent Domain renders the remainder of the right Premises unusable for the Permitted Use of eminent domainLessee, or sold the Lease may, at the option of either party, be terminated by written notice given to prevent such taking, within ninety the other party not more than thirty (9030) days after receipt of City gives Lessee written notice of such the taking, either Tenant or Landlord may terminate this Lease and such termination shall be effective as of the date possession when Lessee is required to be surrendered to said authority. If such vacate the portion of the Building Property Premises so taken. If this Lease is so taken or sold so as terminated, all Rent and Additional Charges shall be paid to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord taking. Whenever any portion of the date on which said vesting will occur. Except as provided hereinPremises is taken by Eminent Domain and this Lease is not terminated, Tenant City, at its expense, shall not because proceed with all reasonable dispatch to restore, to the extent of such taking assert any claim against Landlord or available proceeds and to the taking authority for any compensation because extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord Lessee, at its expense, shall proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking, to the extent award is available therefor. The Rent and Additional Charges payable hereunder shall be entitled reduced from the date Lessee is required to receive partially vacate the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for Premises in the value of any unexpired portion of same proportion that the Term of this Lease, other than for prepaid Rent. If Rentable Area taken bears to the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use total Rentable Area of the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 1 contract

Sources: Lease Agreement

Taking. In case the whole If all of the PremisesPremises are taken by Eminent Domain, or such part thereof or this Lease shall terminate as of the Building Property as date Tenant is required to vacate the Premises and all Base and Additional Rent shall substantially interfere with Tenant’s use be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and occupancy any purchase or acquisition in lieu thereof, shall be taken whether the damaging or taking is by government or any lawful power or authority by exercise other person. If, in the reasonable judgment of Landlord, a taking of any part of the right Premises by Eminent Domain renders the remainder thereof unusable for the business of eminent domainTenant (or the cost of restoration of the Premises is not commercially reasonable), or sold the Lease may, at the option of the either party, be terminated by written notice given to prevent such taking, within ninety the other party not more than thirty (9030) days after receipt of Landlord gives Tenant written notice of such the taking, either Tenant or Landlord may terminate this Lease and such termination shall be effective as of the date possession when Tenant is required to be surrendered to said authority. If such vacate the portion of the Building Property Premises so taken. If this Lease is so taken or sold so as terminated, all Base Monthly Rent and Additional Rent shall be paid to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord termination. Whenever any portion of the date on which said vesting will occur. Except as provided hereinPremises is taken by Eminent Domain and this Lease is not terminated, Tenant Landlord shall not because at its expense proceed with all reasonable dispatch to restore, to the extent of such taking assert any claim against Landlord or available proceeds and to the taking authority for any compensation because extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base Monthly Rent and Additional Rent payable hereunder shall be entitled reduced from the date Tenant is required to receive partially vacate the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for Premises in the value of any unexpired portion of same proportion that the Term of this Lease, other than for prepaid Rent. If rentable area taken bears to the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use total rentable area of the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 1 contract

Sources: Lease Agreement (Source Energy Corp /Ut/)

Taking. In case the whole If all of the PremisesPremises are taken by Eminent Domain, or such part thereof or this Lease shall terminate as of the Building Property as date Tenant is required to vacate the Premises and all Base and Additional Rent shall substantially interfere with Tenant’s use be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and occupancy any purchase or acquisition in lieu thereof, shall be taken whether the damaging or taking is by government or any lawful power or authority by exercise other person. If a taking of any part of the right Premises by Eminent Domain renders the remainder thereof reasonably unusable for the business of eminent domainTenant (or the cost of restoration of the Premises is not commercially reasonable), or sold the Lease may, at the option of either party, be terminated by written notice given to prevent such taking, within ninety the other party not more than thirty (9030) days after receipt of Landlord gives Tenant written notice of such the taking, either Tenant or Landlord may terminate this Lease and such termination shall be effective as of the date possession when Tenant is required to be surrendered to said authority. If such vacate the portion of the Building Property Premises so taken. If this Lease is so taken or sold so as terminated, all Base Monthly Rent and Additional Rent shall be paid to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord termination. Whenever any portion of the date on which said vesting will occur. Except as provided hereinPremises is taken by Eminent Domain and this Lease is not terminated, Tenant Landlord shall not because at its expense proceed with all reasonable dispatch to restore, to the extent of such taking assert any claim against Landlord or available proceeds and to the taking authority for any compensation because extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for the value of any unexpired portion of the Term of this Lease, other than for prepaid Rent. If the amount of property or the type of estate taken shall not substantially interfere at its expense proceed with Tenant’s use of the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to substantially their the same condition they were in immediately prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during if the Premises has been rendered unusable by Eminent Domain and Landlord elects for any Rent abatement under this Leasereason not to restore the same to a reasonably usable condition, Tenant shall continue be entitled to be obligated to pay Landlord terminate this Lease. The Base Monthly Rent and Additional Rent for all services and utilities provided payable hereunder shall be reduced from the date Tenant is required to and actually used by Tenant during partially vacate the period Premises in the same proportion that the rentable area taken bears to the total rentable area of the Rent abatement. Nothing contained in this Article 13 shall be deemed Premises prior to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authoritytaking.

Appears in 1 contract

Sources: Lease Agreement (Cellcyte Genetics Corp)

Taking. In case the whole If there is a taking by condemnation or similar proceedings or actions of the Premises, or such part thereof or of the Building Property as shall substantially interfere with Tenant’s use and occupancy thereof, shall be taken by any lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within ninety (90) days after receipt of notice of such taking, either Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority. If such only a portion of the Building Owned Real Property which is so taken or sold so as not material to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction use of the remaining portions thereof, or which renders remainder of the Building Owned Real Property economically inviable for its use (as presently intended, or requires cancellation of substantially all tenant leases mutually determined by Seller and Buyer in the Buildingtheir reasonable discretion), this Lease may be terminated Agreement will remain in full force and effect, and Seller must pay or assign to Buyer at Closing Seller’s interest in and to any condemnation awards or proceeds from any such proceedings or actions in lieu thereof to the extent such awards or proceeds relate to the Owned Real Property. If there is a taking by Landlord, as condemnation or similar proceedings or actions of all of the date Property or a portion of the vesting Owned Real Property which is material to the use of title under such taking the remainder of the Owned Real Property (as mutually determined by Seller and Buyer in their reasonable discretion or salein any event if more than thirty percent (30%) of the square footage of the Owned Real Property), by Buyer will have the option to terminate this Agreement upon written notice to Tenant Seller within sixty (60) 10 days following notice to Landlord of such condemnation, but in no event later than the Closing Date, in which event neither Buyer nor Seller will have any further rights or obligations hereunder except for obligations of the date on which said vesting will occur. Except as provided herein, Tenant shall not because of such taking assert any claim against Landlord or parties contained herein that survive the taking authority for any compensation because of such taking, and Landlord shall be entitled Closing pursuant to receive the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for the value of any unexpired portion of the Term of this Lease, other than for prepaid RentSection 8.01. If the amount of property Buyer does not exercise its option to terminate this Agreement, then this Agreement will remain in full force and effect and Seller must pay or the type of estate taken shall not substantially interfere with Tenant’s use of the Premises assign to Buyer at Closing Seller's interest in and this Lease has not been terminated, Landlord shall be entitled to any and all condemnation awards or proceeds from such proceedings or actions in lieu thereof or to the entire amount of the award without deduction for any estate extent such awards or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion proceeds relate to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authorityOwned Real Property.

Appears in 1 contract

Sources: Asset Purchase Agreement (Bassett Furniture Industries Inc)

Taking. In case the whole If all of the PremisesPremises are taken by Eminent Domain, or such part thereof or this Lease shall terminate as of the Building Property as date Tenant is required to vacate the Premises and all Base and Additional Rent shall substantially interfere with Tenant’s use be paid to that date. The term “Eminent Domain” shall include the taking or damaging of property by, through or under any governmental or statutory authority, and occupancy any purchase or acquisition in lieu thereof, shall be taken whether the damaging or taking is by government or any lawful power or authority by exercise other person. If, in the reasonable judgment of Landlord, a taking of any part of the right Premises by Eminent Domain renders the remainder thereof unusable for the business of eminent domainTenant (or the cost of restoration of the Premises is not commercially reasonable), or sold the Lease may, at the option of either party, be terminated by written notice given to prevent such taking, within ninety the other party not more than thirty (9030) days after receipt of Landlord gives Tenant written notice of such the taking, either Tenant or Landlord may terminate this Lease and such termination shall be effective as of the date possession when Tenant is required to be surrendered to said authority. If such vacate the portion of the Building Property Premises so taken. If this Lease is so taken or sold so as terminated, all Base and Additional Rent shall be paid to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occurtermination. Except as provided herein, Tenant shall not because of such taking assert Whenever any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for the value of any unexpired portion of the Term of this Lease, other than for prepaid Rent. If the amount of property or the type of estate Premises is taken shall not substantially interfere with Tenant’s use of the Premises by Eminent Domain and this Lease has is not been terminated, Landlord shall be entitled at its expense proceed with all reasonable dispatch to restore, to the entire amount extent of available proceeds, the award without deduction for any estate or interest remainder of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their the condition they were in immediately prior to such partial taking, including the Landlord’s Work and Tenant’s Work described in the Work Letter, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements and alterations other than the Tenant’s Work made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be abated reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the time during which, and to the part total Rentable Area of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue prior to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authoritytaking.

Appears in 1 contract

Sources: Commercial Lease (Blue Nile Inc)

Taking. In case the whole If all of the PremisesPremises are taken by Eminent Domain, or such part thereof or this Lease shall terminate as of the Building Property as date Tenant is required to vacate the Premises and all Base Rent and Additional Rent shall substantially interfere with Tenant’s use be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and occupancy any purchase or acquisition in lieu thereof, shall be taken whether the damaging or taking is by government or any lawful power or authority by exercise other person. If a taking of any part of the right Premises by Eminent Domain renders the remainder thereof unusable for the business of eminent domainTenant, or sold in the reasonable judgment of Landlord, this Lease, at the option of either party, may be terminated by written notice given to prevent such taking, within ninety the other party not more than thirty (9030) days after receipt of Landlord gives Tenant written notice of such the taking, either Tenant or Landlord may terminate this Lease and such termination shall be effective as of the date possession when Tenant is required to be surrendered to said authority. If such vacate the portion of the Building Property Premises so taken. If this Lease is so taken or sold so as terminated, all Base Rent and Additional Rent shall be paid to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occurtermination. Except as provided herein, Tenant shall not because of such taking assert Whenever any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for the value of any unexpired portion of the Term of this Lease, other than for prepaid Rent. If the amount of property or the type of estate Premises is taken shall not substantially interfere with Tenant’s use of the Premises by Eminent Domain and this Lease has is not been terminated, Landlord shall be entitled at its expense proceed with all reasonable dispatch to restore, to the entire amount extent of available proceeds and to the award without deduction for any estate or interest extent it is reasonably prudent to do so, the remainder of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their the condition they were in immediately prior to such partial taking, . The Base Rent and the Additional Rent payable hereunder shall be abated reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the rentable area taken bears to the time during which, and to the part total rentable area of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue prior to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authoritytaking.

Appears in 1 contract

Sources: Office Lease (Interactive Objects Inc)

Taking. In case the whole of the Subleased Premises, or such part thereof or of the Building Property as shall substantially interfere with TenantSubtenant’s use and occupancy thereof, shall be taken by any lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within ninety (90) days after receipt of notice of such taking, either Tenant and if the Prime Lease is terminated pursuant to its terms or Landlord may terminate this Lease effective as the terms of the date possession is required Prime Landlord’s Consent with respect to be surrendered to said authority. If such the portion of the Building Property is so taken or sold so as to requirePrime Lease Premises that includes the Subleased Premises, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, then this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occurSublease shall thereupon terminate. Except as provided hereinexpressly permitted by the terms of this Sublease or the Prime Landlord’s Consent, Tenant (i) Subtenant shall not because of such taking assert any claim against Sublandlord, Prime Landlord or the taking authority for any compensation because of such taking, and Landlord (ii) Sublandlord or Prime Landlord, in accordance with the Prime Lease, shall be entitled to receive the entire amount of any award without deduction for any estate or interest of TenantSubtenant. Tenant Subtenant shall have no claim against Sublandlord or Prime Landlord for the value of any unexpired portion of the Term of this LeaseSublease, other than for prepaid Rent. If the amount of property or the type of estate taken shall not substantially interfere with TenantSubtenant’s use of the Subleased Premises and neither this Sublease or the Prime Lease has not been is terminated, Landlord Sublandlord or Prime Landlord, in accordance with the Prime Lease, shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant Subtenant and in such event, Landlord Sublandlord or Prime Landlord, in accordance with the Prime Lease and Prime Landlord’s Consent, shall promptly proceed to restore the Subleased Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Subleased Premises of which, Tenant Subtenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Sublandlord or Prime Landlord any interest in, or prevent Tenant Subtenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant Subtenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 1 contract

Sources: Sublease (New Century Financial Corp)

Taking. In case the whole (a) If all or substantially all of the PremisesDemised Premises and Improvements are taken or transferred as described in Section 9.1, or such part thereof or this Lease and all of the Building Property as rights, title and interest under this Lease shall substantially interfere with Tenant’s use cease on the date title to the Demised Premises and occupancy thereofImprovements vests in the condemning authority, and the proceeds of the condemnation shall be taken paid to Lessor. In the event of any such taking or condemnation, of all or any part of the Demised Premises or the Improvements, Lessee shall have no claim against Lessor and shall not have any claim or right to any portion of the amount that may be awarded as damages or paid as a result of such taking or condemnation; and all rights of Lessee to damages therefore are hereby assigned by any lawful power Lessee to Lessor, and Lessee shall have no claim against Lessor or authority by exercise the condemnor for the value of the unexpired Term of this Lease. However, the foregoing provisions of this section shall not be construed to deprive Lessee of the right to claim and receive payment from the condemnor or taking authority for moving and related expenses or for the taking of eminent domain, Lessee’s personal property or sold fixtures as long as such claim or the payment thereof does not reduce the award which Lessor would otherwise be entitled to prevent receive. In the event of any such taking, within ninety (90) days after receipt taking or condemnation of notice of such taking, either Tenant or Landlord may terminate this Lease effective as part of the Demised Premises, the Basic Rent shall be proportionately reduced from the date that possession of the Demised Premises is required to be surrendered to said the condemnor or taking authority. . (b) If such less than all or substantially all of the Demised Premises and Improvements is taken or transferred as described in Section 9.1, and if in Lessee’s opinion the remainder of the Demised Premises and Improvements is in a location, or in a form, shape, or reduced size that Lessee is in its commercially reasonable opinion unable to effectively and practicably operate Lessee’s business on the remaining Demised Premises and Improvements, then this Lease shall terminate on the date title to the portion of the Building Property is so Demised Premises and Improvements taken or sold so as to require, transferred vests in the reasonable opinion of Landlord, a substantial alteration or reconstruction condemning authority. The proceeds of the remaining portions thereofcondemnation shall be payable as set forth in Section 9.2(a). (c) If less than all or substantially all of the Demised Premises and Improvements is taken or transferred as described in Section 9.1, and if in Lessee’s opinion the remainder of the Demised Premises and Improvements is in a location and a form, shape, or which renders size that makes it possible for Lessee to effectively and practicably operate Lessee’s business on the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Buildingremaining Demised Premises and Improvements, this Lease may be terminated by Landlord, shall terminate as to the portion of the Demised Premises and Improvements taken or transferred as of the date title to the portion vests in the condemning authority. However, this Lease shall continue in full force and effect as to that portion of the vesting Demised Premises and Improvements not taken or transferred. From and after the date of title under such taking or saletransfer, the rental required to be paid by written notice Lessee to Tenant within sixty (60) days following notice to Landlord Lessor shall be reduced during the unexpired portion of this Lease by that proportion of the date on which said vesting will occur. Except as provided herein, Tenant shall not because of such taking assert any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for annual rent that the value of any unexpired portion of the Term of this Lease, other than for prepaid Rent. If the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use of the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Demised Premises and Improvements taken or transferred bears to the value of which, Tenant the total Demised Premises and Improvements. These values shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period determined as of the Rent abatementdate immediately before any actual taking. Nothing contained The proceeds of the condemnation shall be payable as set forth in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authoritySection 9.2(a).

Appears in 1 contract

Sources: Lease Agreement (LIVE VENTURES Inc)

Taking. In case the whole If all of the PremisesPremises are taken by Eminent Domain, or such part thereof or this Lease shall terminate as of the Building Property as date Tenant is required to vacate the Premises and all Base and Additional Rent shall substantially interfere with Tenant’s use be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and occupancy any purchase or acquisition in lieu thereof, shall be taken whether the damaging or taking is by government or any lawful power or authority by exercise other person. If a taking of any part of the right Premises by Eminent Domain renders the remainder thereof unusable for the business of eminent domainTenant (or the cost of restoration of the Premises is not commercially reasonable), or sold the Lease may, at the option of either party, be terminated by written notice given to prevent such taking, within ninety the other party not more than thirty (9030) days after receipt of Landlord gives Tenant written notice of such the taking, either Tenant or Landlord may terminate this Lease and such termination shall be effective as of the date possession when Tenant is required to be surrendered to said authority. If such vacate the portion of the Building Property Premises so taken. If this Lease is so taken or sold so as terminated, all Base and Additional Rent shall be paid to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord termination. Whenever any portion of the date on which said vesting will occur. Except as provided hereinPremises is taken by Eminent Domain and this Lease is not terminated, Tenant Landlord shall not because at its expense proceed with all reasonable dispatch to restore, to the extent of such taking assert any claim against Landlord or available proceeds and to the taking authority for any compensation because extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be entitled reduced from the date Tenant is required to receive partially vacate the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for Premises in the value of any unexpired portion of same proportion that the Term of this Lease, other than for prepaid Rent. If Rentable Area taken bears to the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use total Rentable Area of the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 1 contract

Sources: Lease Agreement (Applied Microsystems Corp /Wa/)

Taking. In case the whole If any material portion of the Premises, or such part thereof or of the Building Property as shall substantially interfere with Tenant’s use and occupancy thereof, Project shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or sold to prevent such taking, within ninety (90) days after receipt taking to such an extent as to render untenantable the entirety of notice the Premises or such a material portion of such takingthe Premises that Tenant's operation from the remainder of the Premises is not reasonably practicable as reasonably determined by the parties, either Tenant or Landlord may party shall have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. If such portion of the Building Property is so taken or sold so as to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, authority by written notice to Tenant within sixty (60) days following notice to Landlord the other party by the effective date of the date on which said vesting will occursuch taking. Except as provided herein, Tenant shall not because of such taking assert any claim against Landlord or the taking authority for any compensation because of such taking, other than a claim for any separate award attributable to the value of any personal property or trade fixtures of Tenant which are taken, costs of Tenant's relocation, and Tenant hereby assigns to Landlord all of Tenant's interest in, and Landlord shall be entitled to receive receive, the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for the value of any unexpired portion of the Term of this Lease, other than for prepaid Rent. If the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use of the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event(including, without limitation, any award attributable to the value of the remaining Lease Term of this Lease). If neither Tenant nor Landlord so elects to terminate, Landlord shall promptly proceed shall, to the extent of proceeds received, commence to restore the Premises to substantially their same condition prior to such partial taking, and the Rent a proportionate allowance shall be abated in proportion made to Tenant for the Monthly Base Rent and Tenant's obligation for payment of Tenant's Expenses Excess corresponding to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 Section 12.1 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking in any award against the taking authority for, made to Tenant for the taking of Tenant's personal property and trade fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authorityTenant's costs of relocation.

Appears in 1 contract

Sources: Office Lease (Raptor Pharmaceutical Corp)

Taking. a. In case the event all or any part of the Mortgaged Property shall be damaged or taken as a result of a Taking, either temporarily or permanently, Mortgagor shall assign, transfer and set over unto Mortgagee the Taking Proceeds or any claim for damages for any of the Premises taken or damaged under the power of eminent domain, and agrees that in the event the whole or any part of the Premises is taken by eminent domain proceedings, then all sums awarded as damages for the Taking shall be applied in reduction of the indebtedness secured by this Mortgage, but without imposition of the prepayment premium to such application. Any and all costs and expenses, including, without limitation, reasonable attorneys’ fees and expenses to the fullest extent not then prohibited by applicable law, incurred by Mortgagee by reason of any condemnation, threatened condemnation or proceedings thereunder shall be secured hereby and Mortgagor shall reimburse Mortgagee therefor immediately, or Mortgagee shall have the right, at its option, to deduct such costs and expenses from any Taking Proceeds paid to Mortgagee hereunder. In the event that the Premises is wholly condemned, Mortgagee shall receive from Mortgagor and/or from the Taking Proceeds payment of the entire amount of the indebtedness secured by this Mortgage. b. Subject to paragraph (a) of this Section, Mortgagor will immediately notify Mortgagee of the actual or threatened commencement of any Taking proceedings affecting all or any part of the Premises, including any easement therein or appurtenance thereof, including severance and consequential damage and change in grade of streets, and will deliver to Mortgagee copies of any and all papers served in connection with any such part thereof proceedings. Mortgagor further covenants and agrees to make, execute and deliver to Mortgagee, from time to time upon request, free, clear and discharged of any encumbrances of any kind whatsoever, any and all further assignments or other instruments deemed necessary by Mortgagee for the purpose of validly and sufficiently assigning the Taking Proceeds and all other awards and compensation heretofore and hereafter to be made to Mortgagor, including the assignment of any award from the United States Government at any time after the allowance of the Building Property as shall substantially interfere with Tenant’s use claim therefor, the ascertainment of the amount thereof and occupancy the issuance of the warrant for payment thereof, shall be taken by for any lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within ninety (90) days after receipt of notice of such takingTaking, either Tenant permanent or Landlord may terminate this Lease effective as temporary, under any such proceedings. In the event of the date possession is required to be surrendered to said authority. If such portion of the Building Property is so taken or sold so as to requirea Taking, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occur. Except as provided herein, Tenant Mortgagee shall not because be limited to the rate of such taking assert any claim against Landlord or interest paid on the taking award by the condemning authority for any compensation because of such taking, and Landlord but shall be entitled to receive out of the Taking Proceeds interest on the entire amount of any award without deduction for any estate or interest of Tenantunpaid principal sum under the Note and the other Loan Documents at the applicable rate(s) provided therein. Tenant shall have no claim against Landlord for the value of any unexpired portion Mortgagor hereby assigns to Mortgagee so much of the Term balance of the Taking Proceeds payable by the condemning authority as is required to pay such interest. c. Subject to paragraph (a) of this LeaseSection, other than for prepaid Rent. If Mortgagor hereby irrevocably authorizes and appoints Mortgagee its attorney-in-fact, coupled with an interest, to collect and receive any such Taking Proceeds from the amount of property or authorities making the type of estate taken shall not substantially interfere with Tenant’s use of the Premises same, to appear in any proceeding therefor, to give receipts and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during whichacquittances therefor, and to apply the part of the Premises of which, Tenant shall be so deprived same to payment on account of the indebtedness secured hereby whether then matured or not. Mortgagor shall execute and deliver to Mortgagee on demand such taking assignments and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent other instruments as Mortgagee may require for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authoritysuch purposes.

Appears in 1 contract

Sources: Mortgage and Security Agreement (Document Security Systems Inc)

Taking. In case the whole of the Premises, or such part thereof or If there shall be a total taking of the Building Property as shall substantially interfere with Tenant’s use and occupancy thereof, shall be taken in condemnation proceedings or by any lawful power or authority by exercise of the right of eminent domain, this Lease and the Term and estate hereby granted shall terminate as of the date of taking of possession by the condemning authority and all Base Rent and Additional Rent under Article 4 shall be prorated and paid as of such termination date. If there shall be a taking of any material (in Landlord’s reasonable judgment) portion of the Land or sold to prevent the Building (whether or not the Premises are affected by such taking), within ninety (90) days after receipt of notice of such taking, either Tenant or then Landlord may terminate this Lease effective as of and the Term and estate granted hereby by giving notice to Tenant within 60 days after the date of taking of possession is required to be surrendered to said by the condemning authority. If such portion there shall be a taking of the Building Property is so taken or sold so as to require, Premises of such scope (but in the reasonable opinion of Landlord, a substantial alteration or reconstruction no event less than 25% of the remaining portions thereofPremises) that the untaken part of the Premises would in Tenant’s reasonable judgment be uneconomic to operate, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, then Tenant may terminate this Lease may be terminated and the Term and estate granted hereby by Landlordgiving notice to Landlord within 60 days after the date of taking of possession by the condemning authority. If either Landlord or Tenant shall give a termination notice as aforesaid, then this Lease and the Term and estate granted hereby shall terminate as of the date of the vesting of title such notice and all Base Rent and Additional Rent under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occur. Except Article 4 shall be prorated and paid as provided herein, Tenant shall not because of such termination date. In the event of a taking assert any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for the value of any unexpired portion of the Term of this Lease, other than for prepaid Rent. If the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use of the Premises and which does not result in the termination of this Lease has not been terminated, Landlord shall be entitled (a) the Term and estate hereby granted with respect to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the taken part of the Premises shall terminate as of which, Tenant the date of taking of possession by the condemning authority and all Base Rent and Additional Rent under Article 4 shall be so deprived on account appropriately abated for the period from such date to the Expiration Date and (b) Landlord shall perform the work required to be performed by Landlord pursuant to Section 23.04 of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used . “Condemnation” means a total or partial taking in condemnation or by Tenant during the period right of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authorityeminent domain.

Appears in 1 contract

Sources: Lease Agreement (Monotype Imaging Holdings Inc.)

Taking. In case the whole If all of the Premises, or such part thereof or of the Building Property as shall substantially interfere with Tenant’s use and occupancy thereof, shall be Premises arc taken by any lawful power or authority by exercise of the right of eminent domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all rentals shall be paid to that date. The term “eminent domain” shall include the taking or sold damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If a taking of any part of the Premises by eminent domain renders the remainder thereof unusable for the business of Tenant, in the reasonable judgment of Landlord, this Lease, at the option of either party, may be terminated by written notice given to prevent such taking, within ninety the other party not more than thirty (9030) days after receipt of Landlord gives Tenant written notice of such the taking, either Tenant or Landlord may terminate this Lease and such termination stall be effective as of the date possession when Tenant is required to be surrendered to said authority. If such vacate the portion of the Premises so taken. If the whole or any material part of the Building Property is so shall be taken or sold so as to requireby eminent domain, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereofat its option, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, may terminate this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice Tenant. If this Lease is so terminated, all rent shall be paid to Landlord the date of termination. Whenever any portion of the date on which said vesting will occur. Except as provided hereinPremises is taken by eminent domain and this Lease is not terminated, Tenant Landlord shall not because at its expense proceed with all reasonable dispatch to restore, to the extent of such taking assert any claim against Landlord available condemnation or insurance proceeds and to the taking authority for any compensation because extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The base rent payable hereunder shall be entitled reduced from the date Tenant is required to receive partially vacate the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for Premises in the value of any unexpired portion of same proportion that the Term of this Lease, other than for prepaid Rent. If rentable area taken bears to the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use total rentable area of the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 1 contract

Sources: Lease Agreement (iVOW, Inc.)

Taking. In case the whole If all of the PremisesPremises are taken by Eminent Domain, or such part thereof or this Lease shall terminate as of the Building Property as date Tenant is required to vacate the Premises and all Base Rent and Additional Rent shall substantially interfere with Tenant’s use be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and occupancy any purchase or acquisition in lieu thereof, shall be taken whether the damaging or taking is by government or any lawful power or authority by exercise other person. If a taking of any part of the right Premises by Eminent Domain renders the remainder thereof unusable for the business of eminent domainTenant, or sold in the reasonable judgment of Landlord, this Lease, at the option of either party, may be terminated by written notice given to prevent such taking, within ninety the other party not more than thirty (9030) days after receipt of Landlord gives Tenant written notice of such the taking, either Tenant or Landlord may terminate this Lease and such termination shall be effective as of the date possession when Tenant is required to be surrendered to said authority. If such vacate the portion of the Building Property Premises so taken. If this Lease is so taken or sold so as terminated, all Base Rent and Additional Rent shall be paid to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord termination. Whenever any portion of the date on which said vesting will occur. Except as provided hereinPremises is taken by Eminent Domain and this Lease is not terminated, Tenant Landlord shall not because at its expense proceed with all reasonable dispatch to restore, to the extent of such taking assert any claim against Landlord or available proceeds and to the taking authority for any compensation because extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base Rent and Additional Rent payable hereunder shall be entitled reduced from the date Tenant is required to receive partially vacate the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for Premises in the value of any unexpired portion of same proportion that the Term of this Lease, other than for prepaid Rent. If rentable area taken bears to the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use total rentable area of the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 1 contract

Sources: Lease (Photoworks Inc /Wa)

Taking. In case If the whole of the PremisesPremises is taken, either permanently or such part thereof temporarily, by eminent domain or condemnation, this Lease shall automatically terminate as of the Building Property as date title vests in the condemning authority, and Tenant shall substantially interfere with Tenant’s use pay all Base Rent, Additional Rent, and occupancy thereof, shall be taken by any lawful power or authority by exercise of other payments up to the date on which Tenant loses the right of eminent domainpossession and use of all or substantially all of the Premises. If any part of the Premises is permanently taken, or sold if access to prevent such the Premises by Tenant is, by virtue of a taking, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the right (to be exercised by written notice to the other within ninety sixty (9060) days after receipt of notice of such said taking, either Tenant or Landlord may ) to terminate this Lease effective as of from the date when possession is required taken thereunder pursuant to be surrendered to said authoritysuch proceeding or purchase. If such neither parry elects to terminate this Lease, as aforesaid, then Landlord shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion not taken so as to render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Building Property Premises is so taken or sold so as taken, thereafter the Base Rent shall be reduced (on a per square foot basis) in proportion to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction portion of the remaining Premises taken. If there is a temporary taking involving the Premises or Building, if a taking of other portions thereof, or which renders of the Building Property economically inviable for its use as presently intendedor Common Areas does not deny Tenant access to the Building and Premises, or requires cancellation of substantially all tenant leases in the Building, then this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occur. Except as provided herein, Tenant shall not because of such taking assert any claim against Landlord or the taking authority for any compensation because of such takingterminate, and Landlord shall be entitled repair and restore, at its own expense, the portion not taken so as to receive render same into an architectural whole to the entire amount of fullest extent reasonably possible, and, if any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for the value of any unexpired portion of the Term of this LeasePremises was taken, other than for prepaid Rent. If thereafter the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use of the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Base Rent shall be abated reduced (on a per square foot basis) in proportion to the time during which, and to the part portion of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authoritytaken.

Appears in 1 contract

Sources: Deed of Lease (NCI, Inc.)

Taking. (a) In case the event all or any part of the Mortgaged Property shall be damaged or taken as a result of a Taking, either temporarily or permanently, Agency and Mortgagor shall assign, transfer and set over unto Mortgagee the Taking Proceeds or any claim for damages for any of the Premises taken or damaged under the power of eminent domain, and agrees that in the event the whole or any part of the Premises is taken by eminent domain proceedings, then all sums awarded as damages for the Taking shall be applied in reduction of the indebtedness secured by this Mortgage, but without imposition of the prepayment premium to such application. Any and all costs and expenses, including, without limitation, reasonable attorneys' fees and expenses to the fullest extent not then prohibited by applicable law, incurred by Mortgagee by reason of any condemnation, threatened condemnation or proceedings thereunder shall be secured hereby and Mortgagor shall reimburse Mortgagee therefor immediately, or Mortgagee shall have the right, at its option, to deduct such costs and expenses from any Taking Proceeds paid to Mortgagee hereunder. In the event that the Premises is wholly condemned, Mortgagee shall receive from Mortgagor and Agency and/or from the Taking Proceeds, payment of the entire amount of the indebtedness secured by this Mortgage. Notwithstanding anything in the foregoing to the contrary, if there is no Event of Default, the Mortgagor may repair or replace the Mortgaged Property with the replacement or repair to be conducted, and the proceeds to be disbursed, in accordance with the Mortgagee's customary construction loan practices and requirements. (b) Subject to paragraph (a) of this Section, Agency and Mortgagor will immediately notify Mortgagee of the actual or threatened commencement of any Taking proceedings affecting all or any part of the Premises, including any easement therein or appurtenance thereof, including severance and consequential damage and change in grade of streets, and will deliver to Mortgagee copies of any and all papers served in connection with any such part thereof proceedings. Agency and Mortgagor further covenant and agree to make, execute and deliver to Mortgagee, from time to time upon request, free, clear and discharged of any encumbrances of any kind whatsoever, any and all further assignments or other instruments deemed necessary by Mortgagee for the purpose of validly and sufficiently assigning the Taking Proceeds and all other awards and compensation heretofore and hereafter to be made to Agency and Mortgagor, including the assignment of any award from the United States Government at any time after the allowance of the Building Property as shall substantially interfere with Tenant’s use claim therefor, the ascertainment of the amount thereof and occupancy the issuance of the warrant for payment thereof, shall be taken by for any lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within ninety (90) days after receipt of notice of such takingTaking, either Tenant permanent or Landlord may terminate this Lease effective as temporary, under any such proceedings. In the event of the date possession is required to be surrendered to said authority. If such portion of the Building Property is so taken or sold so as to requirea Taking, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occur. Except as provided herein, Tenant Mortgagee shall not because be limited to the rate of such taking assert any claim against Landlord or interest paid on the taking award by the condemning authority for any compensation because of such taking, and Landlord but shall be entitled to receive out of the Taking Proceeds interest on the entire amount of any award without deduction for any estate or interest of Tenantunpaid principal sum under the Note and the other Loan Documents at the applicable rate(s) provided therein. Tenant shall have no claim against Landlord for the value of any unexpired portion Agency and Mortgagor hereby assigns to Mortgagee so much of the Term of this Lease, other than for prepaid Rent. If the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use balance of the Premises and this Lease has not been terminated, Landlord shall be entitled Taking Proceeds payable by the condemning authority as is required to pay such interest. (c) Notwithstanding anything in the foregoing to the entire amount contrary, if there is no Event of Default and provided that Mortgagor provides evidence satisfactory to Mortgagee showing that Mortgagor and the award without deduction for any estate Mortgaged Property will be financially viable following repair or interest of Tenant and in such eventreplacement, Landlord shall promptly proceed the Mortgagor may repair or replace the Mortgaged Property with the replacement or repair to restore the Premises to substantially their condition prior to such partial takingbe conducted, and the Rent shall be abated in proportion to the time during which, and to the part proceeds of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue insurance to be obligated to pay Landlord Additional Rent for all services disbursed, in accordance with the Mortgagee's customary construction loan practices and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authorityrequirements.

Appears in 1 contract

Sources: Mortgage and Security Agreement (Mapinfo Corp)

Taking. (a) In case the event all or any part of the Mortgaged Property shall be damaged or taken as a result of a Taking, either temporarily or permanently, Agency and Mortgagor shall assign, transfer and set over unto Mortgagee the Taking Proceeds or any claim for damages for any of the Premises taken or damaged under the power of eminent domain, and agrees that in the event the whole or any part of the Premises is taken by eminent domain proceedings, then all sums awarded as damages for the Taking shall be applied in reduction of the indebtedness secured by this Mortgage, but without imposition of the prepayment premium to such application. Any and all costs and expenses, including, without limitation, reasonable attorneys' fees and expenses to the fullest extent not then prohibited by applicable law, incurred by Mortgagee by reason of any condemnation, threatened condemnation or proceedings thereunder shall be secured hereby and Mortgagor shall reimburse Mortgagee therefor immediately, or Mortgagee shall have the right, at its option, to deduct such costs and expenses from any Taking Proceeds paid to Mortgagee hereunder. In the event that the Premises is wholly condemned, Mortgagee shall receive from Mortgagor and Agency and/or from the Taking Proceeds, payment of the entire amount of the indebtedness secured by this Mortgage. Notwithstanding anything in the foregoing to the contrary, if there is no Event of Default, the Mortgagor may repair or replace the Mortgaged Property with the replacement or repair to be conducted, and the proceeds to be disbursed, in accordance with the Mortgagee's customary construction loan practices and requirements. (b) Subject to paragraph (a) of this Section, Agency and Mortgagor will immediately notify Mortgagee of the actual or threatened commencement of any Taking proceedings affecting all or any part of the Premises, including any easement therein or appurtenance thereof, including severance and consequential damage and change in grade of streets, and will deliver to Mortgagee copies of any and all papers served in connection with any such part thereof proceedings. Agency and Mortgagor further covenant and agree to make, execute and deliver to Mortgagee, from time to time upon request, free, clear and discharged of any encumbrances of any kind whatsoever, any and all further assignments or other instruments deemed necessary by Mortgagee for the purpose of validly and sufficiently assigning the Taking Proceeds and all other awards and compensation heretofore and hereafter to be made to Agency and Mortgagor, including the assignment of any award from the United States Government at any time after the allowance of the Building Property as shall substantially interfere with Tenant’s use claim therefor, the ascertainment of the amount thereof and occupancy the issuance of the warrant for payment thereof, shall be taken by for any lawful power or authority by exercise of the right of eminent domain, or sold to prevent such taking, within ninety (90) days after receipt of notice of such takingTaking, either Tenant permanent or Landlord may terminate this Lease effective as temporary, under any such proceedings. In the event of the date possession is required to be surrendered to said authority. If such portion of the Building Property is so taken or sold so as to requirea Taking, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occur. Except as provided herein, Tenant Mortgagee shall not because be limited to the rate of such taking assert any claim against Landlord or interest paid on the taking award by the condemning authority for any compensation because of such taking, and Landlord but shall be entitled to receive out of the Taking Proceeds interest on the entire amount of any award without deduction for any estate or interest of Tenantunpaid principal sum under the Note and the other Construction Loan Documents at the applicable rate(s) provided therein. Tenant shall have no claim against Landlord for the value of any unexpired portion Agency and Mortgagor hereby assigns to Mortgagee so much of the Term of this Lease, other than for prepaid Rent. If the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use balance of the Premises and this Lease has not been terminated, Landlord shall be entitled Taking Proceeds payable by the condemning authority as is required to pay such interest. (c) Notwithstanding anything in the foregoing to the entire amount contrary, if there is no Event of Default and provided that Mortgagor provides evidence satisfactory to Mortgagee showing that Mortgagor and the award without deduction for any estate Mortgaged Property will be financially viable following repair or interest of Tenant and in such eventreplacement, Landlord shall promptly proceed the Mortgagor may repair or replace the Mortgaged Property with the replacement or repair to restore the Premises to substantially their condition prior to such partial takingbe conducted, and the Rent shall be abated in proportion to the time during which, and to the part proceeds of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue insurance to be obligated to pay Landlord Additional Rent for all services disbursed, in accordance with the Mortgagee's customary construction loan practices and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authorityrequirements.

Appears in 1 contract

Sources: Mortgage and Security Agreement (Mapinfo Corp)

Taking. In case the whole If all of the PremisesPremises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of ▇▇▇▇▇▇▇▇, a taking of any part of the Premises by Eminent Domain, or such a taking of part thereof or all of the Building Property as shall substantially interfere with Tenant’s use and occupancy thereofparking for the Project, shall be taken by renders the Premises or any lawful power remainder thereof unusable for the business of Tenant (or authority by exercise the cost of restoration of the right Premises or the parking is not commercially reasonable), the Lease may, at the option of eminent domaineither party, or sold be terminated by written notice given to prevent such taking, within ninety the other party not more than thirty (9030) days after receipt of Landlord gives Tenant written notice of such the taking, either Tenant or Landlord may terminate this Lease and such termination shall be effective as of the date possession when Tenant is required to be surrendered to said authority. If such vacate the portion of the Building Property Premises so taken. If this Lease is so taken or sold so as terminated, all Base and Additional Rent shall be paid to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord termination. Whenever any portion of the date on which said vesting will occur. Except as provided hereinPremises is taken by Eminent Domain and this Lease is not terminated, Tenant Landlord shall not because at its expense proceed with all reasonable dispatch to restore, to the extent of such taking assert any claim against Landlord or available proceeds and to the taking authority for any compensation because extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be entitled reduced from the date Tenant is required to receive partially Vacate the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for Premises in the value of any unexpired portion of same proportion that the Term of this Lease, other than for prepaid Rent. If Rentable Square Footage taken bears to the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use total Rentable Square Footage of the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 1 contract

Sources: Master Lease (Tripath Imaging Inc)

Taking. In case (i) If prior to the whole of the PremisesClosing Date any Material Taking occurs, or such part thereof or of the Building Property as shall substantially interfere with Tenant’s use and occupancy thereof, shall be taken then Purchaser may terminate this Agreement by any lawful power or authority by exercise of the right of eminent domain, or sold written notice given to prevent such taking, Seller within ninety twenty (9020) days after receipt of Seller has given Purchaser the notice of such taking, either Tenant or Landlord may terminate this Lease effective the Material Taking (and the Closing Date shall be so extended as of the date possession is required to be surrendered to said authority. If such portion of the Building Property is so taken or sold so as to requireapplicable), in which case the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occur. Except as provided herein, Tenant shall not because of such taking assert any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. Tenant parties shall have no claim against Landlord for further obligations to each other hereunder except as specifically provided herein. (ii) If prior to Closing, any Non-Material Taking occurs, then the value Closing shall take place without abatement of the Purchase Price, but Seller shall assign to Purchaser at the Closing all of Seller’s interest in any condemnation award which may be payable to Seller on account of any unexpired portion of the Term of this Leasesuch Non-Material Taking and at Closing, other than for prepaid Rent. If Seller shall credit to the amount of property or the type Purchase Price payable by Purchaser the amount, if any, of estate taken shall not substantially interfere with Tenant’s use of condemnation proceeds received by Seller between the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, Effective Date and the Rent shall be abated Closing less (x) any amounts reasonably expended by Seller in proportion collecting such sums; (y) any amounts reasonably expended by Seller to repair the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account Property as a result of such taking Non-Material Taking; and restoration. Notwithstanding the foregoing, during (z) any Rent abatement under this Lease, Tenant shall continue amounts which are reasonably allocated to be obligated lost earnings or other damages or losses (other than unrepaired property damages) reasonably allocated or attributed to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatementtime prior to Closing. Nothing contained in this Article 13 For purposes of Section 12.2 hereof, estimates of costs and time required for restoration or repair shall be deemed made by an architect or engineer, as appropriate, designated by Seller and reasonably acceptable to give Landlord Purchaser. The provisions of Section 12.2 hereof constitute an express agreement to the contrary of Section 5-1311 of the New York General Obligations Law. All risk of loss or damage to the Property, including loss or damage resulting from casualty, condemnation, eminent domain and any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from resulting therefrom, attributable to any acts or occurrences on or after the taking authorityClosing Date shall be borne solely by Purchaser.

Appears in 1 contract

Sources: Asset Purchase and Sale Agreement (Marriott International Inc /Md/)

Taking. In case the whole (a) If all or part of the PremisesLeased Premises is proposed to be taken as a result of any action or proceeding in eminent domain or is proposed to be transferred in lieu of condemnation to any authority entitled to exercise the power of eminent domain (collectively, a “Taking”), Landlord shall provide Tenant with reasonable advance notice of any and all impending proceedings or meetings related to such part thereof Taking, and Leasehold Mortgagee shall have the right to participate in any such meetings and proceedings. Should title or possession of all of the Building Property as shall substantially interfere with Tenant’s use and occupancy thereof, shall Leased Premises be taken in condemnation proceedings by any lawful power a Governmental Entity or authority by private party under the exercise of the right of eminent domain, or sold to prevent such taking, within ninety (90) days after receipt of notice of such taking, either Tenant or Landlord may terminate this Lease effective as of should a partial Taking render the date possession is required to be surrendered to said authority. If such remaining portion of the Building Property is so taken or sold so as to requireLeased Premises unsuitable for Tenant’s use (in Tenant’s reasonable discretion), in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, then this Lease may be terminated by Landlord, as of the date of the shall terminate upon such vesting of title under or taking of possession. (b) All payments made on account of any Taking by eminent domain shall be deposited with Leasehold Mortgagee and such taking payments shall first be allocated to either restore the Leased Premises in accordance with the Leasehold Mortgagee’s loan documents or saleto the Leasehold Mortgagee in the amount equal to the outstanding indebtedness secured by the Leasehold Mortgage and, thereafter, such payments shall be made to the Parties in accordance with their respective interests hereunder (and, for avoidance of doubt, any allocation to the Leased Premises, the Rolling Mill and any other improvements or fixtures thereon or therein shall be allocated exclusively to Tenant), and Tenant, at its sole discretion, shall be entitled seek a separate award for any damages allowable by written notice law, including those damages for (a) the removal and relocation Tenant’s business, (b) the loss or damage to any property that Tenant within sixty elects or is required not to remove, and (60c) days following notice to Landlord the loss of use of the date on which said vesting will occurLeased Premises by Tenant; and Landlord shall have no right, title or interest in or to any separate award made therefor. Except as provided herein, Tenant shall not because of such taking assert have the right to participate in any claim against Landlord or the taking authority for any compensation because of such takingsettlement proceedings, and Landlord shall be entitled to receive not enter into any binding settlement agreement without the entire amount of any award without deduction for any estate or interest prior written consent of Tenant. Tenant shall have no claim against Landlord for the value of any unexpired portion of the Term of this Lease, other than for prepaid Rent. If the amount of property or the type of estate taken which consent shall not substantially interfere with Tenant’s use of the Premises and this Lease has not been terminatedbe unreasonably withheld, Landlord shall be entitled to the entire amount of the award without deduction for any estate conditioned or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authoritydelayed.

Appears in 1 contract

Sources: Ground Lease Agreement (Kaiser Aluminum Corp)

Taking. In case If the whole of the Premises, Premises or such part any portion thereof or of the Building Property as shall substantially interfere with Tenant’s use and occupancy thereof, shall be condemned or taken by any lawful public authority or by any other person or entity with the power of condemnation, by eminent domain or authority by exercise of purchase in lieu thereof, and such condemnation or taking renders the right of eminent domainPremises unsuitable for Tenant's business operation therein, or sold to prevent such taking, within ninety (90) days after receipt of notice of such taking, either then Tenant or Landlord may terminate this Lease by giving notice thereof to Landlord, such termination being effective as of the date possession is required to be surrendered to said authorityspecified in such notice. If such portion of Tenant so terminates this Lease, Minimum Annual Rent and Additional Rent shall be paid to the Building Property is so taken or sold so as to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the effective date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occur. Except as provided herein, Tenant shall not because of such taking assert any claim against Landlord or the taking authority for any compensation because of such takingtermination, and Landlord Tenant shall be entitled to receive the entire amount an appropriate refund of any award without deduction Minimum Annual Rent and Additional Rent and any other amounts paid by Tenant hereunder for any estate period after the effective date of termination. If this Lease is not so terminated, this Lease and the Term thereof shall continue, except that if Tenant is deprived of the use of any portion of the Premises or interest any rights under this Lease as a result of Tenantsuch condemnation or taking, Minimum Annual Rent, Additional Rent and any other amounts payable by Tenant hereunder shall be abated or reduced according to the extent to which Tenant is deprived of the use or benefit of the Premises or any rights under this Lease. Whether or not this Lease is terminated by Tenant shall have no claim against Landlord as a result of any condemnation or taking, all damages awarded as a result of the condemnation or taking for the value of Tenant's leasehold interest, for the cost of any unexpired portion leasehold improvements paid for by Tenant and for the cost of the Term of this LeaseTenant's equipment, machinery, furniture, fixtures and other than for prepaid Rentpersonal property shall belong to Tenant. If the amount of property or the type of estate taken All other damages awarded shall not substantially interfere with Tenant’s use of the Premises and this Lease has not been terminated, Landlord shall be entitled belong to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of whichLandlord. In addition, Tenant shall be so deprived on account have the right to claim, prove, collect and retain any other damages awarded and any other damages compensable under the applicable laws of the jurisdiction in which the Premises are located as a result of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, condemnation or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authoritytaking.

Appears in 1 contract

Sources: Lease Agreement (Dura Products International Inc)

Taking. In case the whole If all of the PremisesPremises are taken by Eminent Domain, or such part thereof or this Lease shall terminate as of the Building Property as date Lessee is required to vacate the Premises and all Rent and Additional Charges shall substantially interfere with Tenant’s use be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and occupancy any purchase or acquisition in lieu thereof, shall be taken whether the damaging or taking is by government or any lawful power or authority by exercise other person. If a taking of any part of the right Premises by Eminent Domain renders the remainder thereof unusable for the business of eminent domainLessee, or sold in the reasonable judgment of City, the Lease may, at the option of either party, be terminated by written notice given to prevent such taking, within ninety the other party not more than thirty (9030) days after receipt of City gives Lessee written notice of such the taking, either Tenant or Landlord may terminate this Lease and such termination shall be effective as of the date possession when Lessee is required to be surrendered to said authority. If such vacate the portion of the Building Property Premises so taken. If this Lease is so taken or sold so as terminated, all Rent and Additional Charges shall be paid to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord termination. Whenever any portion of the date on which said vesting will occur. Except as provided hereinPremises is taken by Eminent Domain and this Lease is not terminated, Tenant City, at its expense, shall not because proceed with all reasonable dispatch to restore, to the extent of such taking assert any claim against Landlord or available proceeds and to the taking authority for any compensation because extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord Lessee, at its expense, shall proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking, to the extent award is available therefor. The Rent and Additional Charges payable hereunder shall be entitled reduced from the date Lessee is required to receive partially vacate the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for Premises in the value of any unexpired portion of same proportion that the Term of this Lease, other than for prepaid Rent. If Rentable Area taken bears to the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use total Rentable Area of the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 1 contract

Sources: Lease Agreement

Taking. In case the whole If a substantial part of the Premises, or such part thereof or of the Building Property as shall substantially interfere with Tenant’s use and occupancy thereof, Premises shall be taken for any public or quasi-public use under governmental law or by any lawful power or authority by exercise of the right of eminent domain, or sold to prevent domain and such taking, within ninety (90) days after receipt of notice of such taking, either Tenant or Landlord may terminate this Lease effective as taking would materially interfere with the use of the date possession is required to be surrendered to said authority. If such portion of Premises by Tenant for the Building Property is so taken or sold so as to requirepurposes contemplated by this Lease, in then the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of either Landlord or Tenant. Landlord or Tenant shall make such election by giving the date of the vesting of title under such taking or sale, by other party written notice to Tenant within sixty (60) days following after the event giving rise to a right to terminate. Any such termination shall be effective thirty (30) days after the date of notice to Landlord thereof and in the case where all or substantially all of the date on which said vesting will occur. Except as provided herein, Tenant shall not because of such taking assert any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord Premises shall be entitled to receive the entire amount of any award without deduction for any estate taken or interest of Tenant. Tenant shall have no claim against when Landlord for the value of any unexpired portion of the Term of terminates this Lease, other than for prepaid Rentto the extent that Landlord pays to each Mortgagee any amount necessary, when added to any condemnation award which Tenant is entitled to retain, will be sufficient to pay-off the then existing outstanding principal indebtedness then owed to such Mortgage. If the amount of property or the type of estate taken shall not substantially interfere any taking materially interferes with Tenant’s use and occupation of any part of the Premises and this Lease has not been terminatedPremises, Landlord a just portion of the rent shall be entitled to abated from the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore date the Premises to substantially their condition prior to or such lesser part are rendered unusable until the date when the Premises (or in the case of a partial taking, and the Rent what remains thereof) shall be abated put in proportion proper condition for use and occupation. Tenant shall receive a permanent abatement of rent to the time during which, and to the extent that all or any part of the Premises cannot be so used and occupied for the balance of whichtheTerm. Landlord reserves all rights to damages payable by reason of anything lawfully done in pursuance of any public or other authority and, by way of confirmation, Tenant grants to Landlord all of Tenant’s rights to such damages and agrees to execute and deliver such further instruments of assignment thereof as Landlord may from time to time request, provided, however, that Tenant reserves for itself any award specifically reimbursing Tenant for moving or relocation expenses and any other award the payment of which does not diminish the amount otherwise payable to Landlord. Tenant shall also be so deprived on account entitled to share in the award proportionately to the unamortized value of such taking and restoration. Notwithstanding any lease improvements constructed by Tenant pursuant to the foregoing, during any Rent abatement under terms of this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 1 contract

Sources: Lease Agreement

Taking. In case the whole If all of the PremisesPremises are taken by Eminent Domain, or such part thereof or this Lease shall terminate as of the Building Property as date Tenant is required to vacate the Premises and all Base and Additional Rent shall substantially interfere with Tenant’s use be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and occupancy any purchase or acquisition in lieu thereof, shall be taken whether the damaging or taking is by government or any lawful power or authority by exercise other person. If, in the reasonable judgment of Landlord, a taking of any part of the right Premises by Eminent Domain renders the remainder thereof unusable for the business of eminent domainTenant (or the cost of restoration of the Premises is not commercially reasonable), or sold the Lease may, at the option of either party, be terminated by written notice given to prevent such taking, within ninety the other party not more than thirty (9030) days after receipt of Landlord gives Tenant written notice of such the taking, either Tenant or Landlord may terminate this Lease and such termination shall be effective as of the date possession when Tenant is required to be surrendered to said authority. If such vacate the portion of the Building Property Premises so taken. If this Lease is so taken or sold so as terminated, all Base and Additional Rent shall be paid to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occurtermination. Except as provided herein, Tenant shall not because of such taking assert Whenever any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for the value of any unexpired portion of the Term of this Lease, other than for prepaid Rent. If the amount of property or the type of estate Premises is taken shall not substantially interfere with Tenant’s use of the Premises by Eminent Domain and this Lease has is not been terminated, Landlord shall be entitled at its expense proceed with all reasonable dispatch to restore, to the entire amount extent of available proceeds, the award without deduction for any estate or interest remainder of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their the condition they were in immediately prior to such partial taking, including the Landlord's Work and ▇▇▇▇▇▇'s Work described in the Work Letter, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements and alterations other than the Tenant's Work made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be abated reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the time during which, and to the part total Rentable Area of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue prior to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authoritytaking.

Appears in 1 contract

Sources: Lease Agreement (Blue Nile Inc)

Taking. In case the whole If all of the PremisesPremises are taken by Eminent Domain, or such part thereof or this Lease shall terminate as of the Building Property as date Tenant is required to vacate the Premises and all Base and Additional Rent shall substantially interfere with Tenant’s use be paid to that date. The term “Eminent Domain” shall include the taking or damaging of property by, through or under any governmental or statutory authority, and occupancy any purchase or acquisition in lieu thereof, shall be taken whether the damaging or taking is by government or any lawful power or authority by exercise other person. If, in the reasonable judgment of Landlord, a taking of any part of the right Premises by Eminent Domain renders the remainder thereof unusable for the business of eminent domainTenant (or the cost of restoration of the Premises is not commercially reasonable), or sold the Lease may, at the option of either party, be terminated by written notice given to prevent such taking, within ninety the other party not more than thirty (9030) days after receipt of Landlord gives Tenant written notice of such the taking, either Tenant or Landlord may terminate this Lease and such termination shall be effective as of the date possession when Tenant is required to be surrendered to said authority. If such vacate the portion of the Building Property Premises so taken. If this Lease is so taken or sold so as terminated, all Base and Additional Rent shall be paid to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord termination. Whenever any portion of the date on which said vesting will occur. Except as provided hereinPremises is taken by Eminent Domain and this Lease is not terminated, Tenant Landlord shall not because at its expense proceed with all reasonable dispatch to restore, to the extent of such taking assert any claim against Landlord or available proceeds issued from the taking governmental authority for any compensation because and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be entitled reduced from the date Tenant is required to receive partially vacate the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for Premises in the value of any unexpired portion of same proportion that the Term of this Lease, other than for prepaid Rent. If Rentable Area taken bears to the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use total Rentable Area of the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 1 contract

Sources: Office Lease Agreement (F5 Networks Inc)

Taking. In case the whole If all of the PremisesPremises are taken by Eminent Domain, or such part thereof or this Lease shall terminate as of the Building Property as date Lessee is required to vacate the Premises and all Rent and Additional Charges shall substantially interfere with Tenant’s use be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and occupancy any purchase or acquisition in lieu thereof, shall be taken whether the damaging or taking is by government or any lawful power or authority by exercise other person. If a taking of any part of the right Premises by Eminent Domain renders the remainder thereof unusable for the business of eminent domainLessee, or sold in the reasonable judgment of City, the Lease may, at the option of either party, be terminated by written notice given to prevent such taking, within ninety the other party not more than thirty (9030) days after receipt of City gives Lessee written notice of such the taking, either Tenant or Landlord may terminate this Lease and such termination shall be effective as of the date possession when Lessee is required to be surrendered to said authority. If such vacate the portion of the Building Property Premises so taken. If this Lease is so taken or sold so as terminated, all Rent and Additional Charges shall be paid to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord termination. Whenever any portion of the date on which said vesting will occur. Except as provided hereinPremises is taken by Eminent Domain and this Lease is not terminated, Tenant City, at its expense, shall not because proceed with all reasonable dispatch to restore, to the extent of such taking assert any claim against Landlord or available proceeds and to the taking authority for any compensation because extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Landlord Lessee, at its expense, shall proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking, to the extent award is available therefor. The Rent and Additional Charges payable hereunder shall be entitled reduced from the date Lessee is required to receive partially vacate the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for Premises in the value of any unexpired portion of same proportion that the Term of this Lease, other than for prepaid Rent. If Lease area taken bears to the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use total Lease Area of the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.

Appears in 1 contract

Sources: Lease Agreement

Taking. In case the whole If all of the PremisesPremises are taken by Eminent Domain, or such part thereof or this Lease shall terminate as of the Building Property as date Tenant is required to vacate the Premises and all Base Rent, Additional Rent, and Percentage Rent (if applicable) shall substantially interfere with Tenant’s use be paid to that date. The term “Eminent Domain” shall include the taking or damaging of property by, through or under any governmental or statutory authority, and occupancy any purchase or acquisition in lieu thereof, shall be taken whether the damaging or taking is by government or any lawful other person who under applicable law has the power to exercise the power of condemnation or authority by exercise eminent domain. If, in the reasonable judgment of Landlord, a taking of any part of the right Premises by Eminent Domain renders the remainder thereof unusable for the business of eminent domainTenant this Lease, or sold at the option of either party, may be terminated by written notice given to prevent such taking, within ninety the other party not more than thirty (9030) days after receipt of Landlord gives Tenant written notice of such the taking, either Tenant or Landlord may terminate this Lease and such termination shall be effective as of the date possession when Tenant is required to be surrendered to said authority. If such vacate the portion of the Building Property Premises so taken. If this Lease is so taken or sold so as terminated, all Base Rent, Additional Rent, and Percentage Rent (if applicable) shall be paid to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord termination. Whenever any portion of the date on which said vesting will occur. Except as provided hereinPremises is taken by Eminent Domain and this Lease is not terminated, Tenant Landlord shall not because at its expense proceed with all reasonable dispatch to restore, to the extent of such taking assert any claim against Landlord or available proceeds and to the taking authority for any compensation because extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base Rent payable hereunder shall be equitably reduced based on (i) the square footage of the Premises so taken compared to the square footage of the entire Premises, and (ii) the relative gross revenue from operations generated at such time by the portion of the Premises taken compared to the gross revenue from operations generated at such time by the remainder of the Premises. If this Lease is terminated pursuant to this Subsection 8.2(a), Landlord shall be entitled pay Tenant the Lease Termination Fee provided that Tenant has delivered to receive Landlord any Casino Personal Property and Casino Personal Property Additions that are not taken and all condemnation proceeds relating to the entire amount of taken Casino Personal Property, the taken Casino Personal Property Additions, any award without deduction for Alterations to the Premises and any estate or and all damages relating to the Casino Business and Tenant’s leasehold interest of Tenantunder this Lease. Tenant shall have no claim against deliver such items to Landlord free and clear of liens, encumbrances, and defects of title, except any such matters arising through Prime Landlord for the value benefit of any unexpired portion of the Term of this Lease, other than its Mortgagee and except for prepaid Rent. If the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use of the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authorityCasino Personal Property Additions Capital Leases then outstanding.

Appears in 1 contract

Sources: Casino Sublease Agreement (OCM HoldCo, LLC)

Taking. In case the whole If any material portion of the Premises, or such part thereof or of the Building Property as shall substantially interfere with Tenant’s use and occupancy thereof, Project shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or sold to prevent such taking, within ninety (90) days after receipt taking to such an extent as to render untenantable the entirety of notice the Premises or such a material portion of such takingthe Premises that Tenant's operation from the remainder of the Premises is not reasonably practicable as reasonably determined by the parties, either Tenant or Landlord may party shall have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authorityauthority by written notice to the other party by the effective date of such taking. If such portion all or any part of the Building Property Premises shall be taken, and if such taking is permanent, the term of this Lease shall automatically terminate with respect to the part of the Premises so taken or sold so as to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date when the possession of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occurpart is required. Except as provided herein, Tenant shall not because of such taking assert any claim against Landlord or the taking authority for any compensation because of such taking, other than a claim for any separate award attributable to the value of any personal property or trade fixtures of Tenant which are taken, costs of Tenant's relocation, and Tenant hereby assigns to Landlord all of Tenant's interest in, and Landlord shall be entitled to receive receive, the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for the value of any unexpired portion of the Term of this Lease, other than for prepaid Rent. If the amount of property or the type of estate taken shall not substantially interfere with Tenant’s use of the Premises and this Lease has not been terminated, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant and in such event(including, without limitation, any award attributable to the value of the remaining Term of this Lease). If neither Tenant nor Landlord so elects to terminate, Landlord shall promptly proceed shall, to the extent of proceeds received, commence to restore the Premises to substantially their same condition prior to such partial taking, and the Rent a proportionate abatement shall be abated in proportion made to Tenant for the Monthly Base Rent and Tenant's obligation for payment of Tenant's Expenses Excess corresponding to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding ; provided that if during the foregoing, during any Rent abatement under this Lease, Tenant shall continue to progress of Landlord's restoration work the balance of the Premises cannot reasonably be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during for the period operation of its business, then Monthly Base Rent and Tenant's Expenses Excess shall abate until that remaining portion of the Rent abatementPremises is again u▇▇▇▇▇ by Tenant. Nothing contained in this Article 13 Section 12.1 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking in any award against the taking authority for, made to Tenant for the taking of Tenant's personal property and trade fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authorityTenant's costs of relocation.

Appears in 1 contract

Sources: Office Lease (Spatialight Inc)

Taking. In case the whole If all of the PremisesPremises are taken by Eminent Domain, or such part thereof or this Lease shall terminate as of the Building Property as date Tenant is required to vacate the Premises and all Base and Additional Rent shall substantially interfere with Tenant’s use be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and occupancy any purchase or acquisition in lieu thereof, shall be taken whether the damaging or taking is by government or any lawful power or authority by exercise other person. If, in the reasonable judgment of Landlord, a taking of any part of the right Premises by Eminent Domain renders the remainder thereof unusable for the business of eminent domainTenant (or the cost of restoration of the Premises is not commercially reasonable), or sold the Lease may, at the option of either party, be terminated by written notice given to prevent such taking, within ninety the other party not more than thirty (9030) days after receipt of Landlord gives Tenant written notice of such the taking, either Tenant or Landlord may terminate this Lease and such termination shall be effective as of the date possession when Tenant is required to be surrendered to said authority. If such vacate the portion of the Building Property Premises so taken. If this Lease is so taken or sold so as terminated, all Base and Additional Rent shall be paid to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occurtermination. Except as provided herein, Tenant shall not because of such taking assert Whenever any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for the value of any unexpired portion of the Term of this Lease, other than for prepaid Rent. If the amount of property or the type of estate Premises is taken shall not substantially interfere with Tenant’s use of the Premises by Eminent Domain and this Lease has is not been terminated, Landlord shall be entitled at its expense proceed with all reasonable dispatch to restore, to the entire amount extent of available proceeds and to the award without deduction for any estate or interest extent it is reasonably prudent to do so, the remainder of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their the condition they were in immediately prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord Additional Rent for all services and utilities provided to and actually used by Tenant during the period of the Rent abatement. Nothing contained in this Article 13 shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking authority.,

Appears in 1 contract

Sources: Lease Agreement (Eden Bioscience Corp)

Taking. In case the event the whole or any part of the Premises, or such part thereof or of the Building Property as shall substantially interfere with Tenant’s use and occupancy thereof, Parking Area shall be taken by any lawful power or authority by exercise of the right of eminent domaindomain or any similar authority of law (a “Taking”), or sold to prevent such taking, within ninety (90) days after receipt of notice of such taking, either Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority. If such portion of the Building Property is so taken or sold so as to require, in the reasonable opinion of Landlord, a substantial alteration or reconstruction of the remaining portions thereof, or which renders the Building Property economically inviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, this Lease may be terminated by Landlord, as of the date of the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the date on which said vesting will occur. Except as provided herein, Tenant shall not because of such taking assert any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. Tenant shall have no claim against Landlord for the value of the land and improvements so taken shall belong to the fee title owner of the subject property or portion thereof so taken or to such fee title owner’s mortgagees or tenants, as their interest may appear, and no other Owner shall have a right to claim any unexpired portion of such award by virtue of any interest created by this Agreement. Any Owner who is not the Term fee title owner of this Leasethe property which is the subject of a Taking may, other than for prepaid Rent. If however, file a collateral claim with the amount condemning authority over and above the value of property the land and improvements being so taken to the extent of any damage suffered by such Owner resulting from the severance of the land or the type of estate improvements so taken if such claim shall not substantially interfere with Tenant’s use of operate to reduce the Premises and this Lease has not been terminated, Landlord shall be entitled award allocable to the entire amount of the award without deduction for any estate or interest of Tenant and in such event, Landlord shall promptly proceed to restore the Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Premises of which, Tenant shall be so deprived on account of such taking and restorationproperty taken. Notwithstanding the foregoing, during in the event of a Taking of a portion of the Parking Area and such portion is not required for reasonable access to and use of the remaining Parking Area, the Manager shall restore the improvements located on the Parking Area as nearly as possible to the condition existing prior to the Taking and any Rent abatement under this Leaseportion of any condemnation award necessary therefor shall be paid to the Manager and held in trust and applied for such purpose, Tenant and the balance, if any, shall continue be paid to the Owner; provided, however, that the Manager shall in no event be obligated to pay Landlord Additional Rent undertake any restoration except to the extent that funding for such restoration is readily available from the proceeds of any condemnation award. In the event of a Taking of all services and utilities provided to and actually used by Tenant during the period or a portion of the Rent abatement. Nothing contained in Parking Area and such portion is required for the reasonable use of the remainder of the Parking Area or such portion is required for reasonable access to the Parking Area, then this Article 13 Agreement shall terminate effective as of the day possession of all or a portion of the Parking Area shall be deemed to give Landlord any interest in, or prevent Tenant from seeking any award against taken by the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking condemning authority.

Appears in 1 contract

Sources: Parking Easement Agreement