Coliseum and Sports Arena Sample Clauses

Coliseum and Sports Arena. If all or any part of the Property, or USC’s leasehold interest in the Property as described in the USC Lease (as modified by this Agreement), or any part thereof, is taken for any public or quasi-public use, or by right or threat of eminent domain, under applicable Laws (a “Taking” or “Taken”, or “to Take”), and the Taking is either a total Taking or a partial Taking which would render the Property unusable for the purposes for which such property was intended for a period of more than two years, then upon written notice by USC to District and Commission, USC in its sole and absolute discretion, may elect to terminate the USC Lease in accordance with Section 15.12 of the USC Lease. Without limiting the foregoing, the Property shall be deemed to be unusable for the purposes for which they were intended if more than thirty (30%) of the seats in the Coliseum are unusable after the partial Taking and cannot be replaced within the remaining area of the Coliseum. If the Sports Arena is Taken but the Taking does not render the Coliseum unusable for the purposes for which it is intended pursuant to this Section, USC, in its sole and absolute discretion, may elect to terminate the USC Lease with respect to the Sports Arena and may elect not to terminate the USC Lease with respect to the Coliseum. If the Coliseum is Taken but the Taking does not render the Sports Arena unusable, USC, in its sole and absolute discretion, may elect to either (i) terminate the USC Lease with respect to the entire Property or (ii) terminate the USC Lease with respect to the Coliseum only.
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Coliseum and Sports Arena. If all or any part of the Premises, or Tenant’s leasehold interest as described in this Agreement, or any part thereof, is taken for any public or quasi-public use, or by right or threat of eminent domain, under applicable Laws (a “Taking” or “Taken”, or “to Take”), and the Taking is either a total Taking or a partial Taking which would render the Premises unusable for the purposes for which such property was intended for a period of more than two years, then upon written notice by Tenant to Landlord this Agreement shall terminate on the date such Taking is deemed effective. Without limiting the foregoing, (a) the Premises shall be deemed to be “unusable for the purposes for which they were intended” and thereby deemed to be Taken if more than thirty percent (30%) of the parking spaces in the Landlord Parking Areas available as of the Prior Agreement Commencement Date are, for any reason or cause, whether by operation of law or by court order, or otherwise, terminated, nullified, reduced, made more expensive to exercise in a manner inconsistent with this Agreement, or otherwise modified or altered in an manner adverse to Tenant without Tenant’s written consent thereto (any of the foregoing, an “Adverse Parking Event”), and such parking spaces cannot or have not been replaced at no cost to Tenant within the remaining area of Exposition Park; and (b) the Premises shall be deemed to be unusable for the purposes for which they were intended if more than thirty (30%) of the seats in the Coliseum Property are unusable after the partial Taking and cannot be replaced within the remaining area of the Coliseum Property. If the Sports Arena Property is Taken but the Taking does not render the Coliseum Property unusable for the purposes for which it is intended pursuant to this Section, the Tenant, in its sole and absolute discretion, may elect to terminate the Agreement with respect to the Sports Arena Property but may not elect to terminate the Agreement with respect to the Coliseum Property. If the Coliseum Property is Taken but the Taking does not render the Sports Arena Property unusable, the Tenant, in its sole and absolute discretion, may elect to either (i) terminate the Agreement with respect to the entire Premises or (ii) terminate the Agreement with respect to the Coliseum Property only. In addition to the foregoing, if more than thirty percent (30%) of the parking spaces in the Landlord Parking Areas available as of the Prior Agreement Commencement Date ar...
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