Common use of Termination or Abatement Due to Eminent Domain Clause in Contracts

Termination or Abatement Due to Eminent Domain. If the Leased Property is taken permanently under the power of eminent domain or sold to a government threatening to exercise the power of eminent domain, the Term of this Lease will cease with respect thereto as of the day possession is so taken. If less than all of the Leased Property is taken permanently, or if the Leased Property is taken temporarily, under the power of eminent domain, (a) this Lease will continue in full force and effect with respect thereto and will not be terminated by virtue of such taking and the parties waive the benefit of any law to the contrary, and (b) there will be a partial abatement of Lease Payments allocated thereto, in an amount to be determined by the District such that the resulting Lease Payments represent fair consideration for the use and occupancy of the remaining usable portions of the Leased Property. Notwithstanding the foregoing, the Lease Payments will not be abated under this Section to the extent that amounts in the Reserve Fund are available to pay Lease Payments which would otherwise be abated under this Section, it being hereby declared that such proceeds and amounts constitute a special fund for the payment of the Lease Payments.

Termination or Abatement Due to Eminent Domain. If the Leased Property is shall be taken permanently under the power of eminent domain or sold to a government threatening to exercise the power of eminent domain, the Term of this Lease will shall cease with respect thereto as of the day possession is shall be so taken. If less than all of the Leased Property is shall be taken permanently, or if the Leased Property is shall be taken temporarily, under the power of eminent domain, (a) this Lease will shall continue in full force and effect with respect thereto and will shall not be terminated by virtue of such taking and the parties waive the benefit of any law to the contrary, and (b) there will shall be a partial abatement of Lease Payments allocated thereto, in an amount to be determined agreed upon by the District County and the Corporation such that the resulting Lease Payments represent fair consideration for the use and occupancy of the remaining usable portions of the Leased Property. Notwithstanding the foregoing, the there shall be no abatement of Lease Payments will not be abated under this Section 6.2 to the extent that rental interruption insurance proceeds or amounts in the Reserve Fund are available to pay Lease Payments which would otherwise be abated under this SectionSection 6.2, it being hereby declared that such proceeds and amounts constitute a special fund for the payment of the Lease Payments.