Common use of Complete Taking Clause in Contracts

Complete Taking. If during the Term of this Lease, or any extension hereof, the whole or substantially all of the Premises shall be taken as a result of the exercise of power of eminent domain, this Lease shall terminate as of the date of vesting of title to the Premises or delivery possession, whichever shall first occur, pursuant to such proceeding. For the purpose of this Article 14, “substantially all of the Premises” shall be deemed to have been taken under any such proceeding that involves such an area, whether the area be improved with a building or be utilized for a parking area or for other use, that Lessee cannot reasonably operate in the remainder of the Premises the business being conducted on the Premises at the time of such proceeding.

Appears in 2 contracts

Samples: Lease Agreement (Scotts Liquid Gold Inc), Net Lease Agreement (Scotts Liquid Gold Inc)

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Complete Taking. If during the Term of this Lease, or any extension hereof, the whole or substantially all of the Premises shall be taken as a result of the exercise of power of eminent domain, this Lease shall terminate as of the date of vesting of title to the Premises or delivery possession, whichever shall first occur, pursuant to such proceeding. For the purpose of this Article 1415, “substantially all of the Premises” shall be deemed to have been taken under any such proceeding that involves such an area, whether the area be improved with a building or be utilized for a parking area or for other use, that Lessee cannot reasonably operate in the remainder of the Premises the business being conducted on the Premises at the time of such proceeding.

Appears in 2 contracts

Samples: Lease Agreement (Scotts Liquid Gold Inc), Lease Agreement (Scotts Liquid Gold Inc)

Complete Taking. If If, during the Term primary term of this Lease, Lease (or any extension hereofthereof), the whole or substantially all of the Premises shall be taken as a result of the exercise of the power of eminent domain, this Lease shall terminate as of the date of vesting of title to of the Premises or delivery of possession, whichever shall first occur, pursuant to such proceeding. For the purpose of this Article 14paragraph, “substantially all of the Premises” shall be deemed to have been taken if a taking under any such proceeding that involves shall involve such an area, whether the area be improved with a building or be utilized for a parking area or for other use, that Lessee Tenant cannot reasonably operate in the remainder of the Premises the business being conducted on the Premises at the time of such proceeding.

Appears in 2 contracts

Samples: Multi Tenant Lease Agreement (Global Casinos Inc), Multi Tenant Lease Agreement (AspenBio Pharma, Inc.)

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Complete Taking. If during the Term term of this Lease, or any extension hereof, hereof the whole or substantially all of the Premises property or the premises shall be taken as a result of the exercise of the power of eminent domain, this Lease shall terminate as of the date of vesting of title to of the Premises property or the premises or delivery of possession, whichever event shall first occur, pursuant to such proceeding. For the purpose of this Article 14Section, “substantially all of the Premisesproperty or the premises” shall be deemed to have been taken if a taking under any such proceeding that involves shall involve such an area, whether the area be improved with a building or be utilized for a parking area or for other use, such that Lessee cannot reasonably operate in the remainder of the Premises premises the business being conducted on the Premises premises at the time of such proceedingproceedings.

Appears in 2 contracts

Samples: Lease Agreement (SOS Hydration Inc.), Lease Agreement (SOS Hydration Inc.)

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