Common use of Effect of Condemnation Clause in Contracts

Effect of Condemnation. (A) If (i) all of the Leased Premises are covered by a Condemnation, or (ii) if any part of the Leased Premises is covered by a Condemnation and the remainder thereof is insufficient for the reasonable operation therein of the Tenant's business, or (iii) any of the Leased Premises is covered by a Condemnation and, in the Landlord's reasonable opinion, it would be impractical to restore the remainder thereof, then, in any such event, the Lease shall terminate on the date upon which possession of so much of the Leased Premises as is covered by such Condemnation is taken by the condemning authority thereunder, and all rent (including, by way of example rather then of limitation, any Additional Rent payable pursuant to any Addendum regarding Additional Rent), taxes, and other charges payable hereunder shall be prorated and paid to such date.

Appears in 4 contracts

Samples: Lease Agreement (Genesis Financial Group Inc \Va\), Lease (Access Integrated Technologies Inc), Lease (Genesis Financial Group Inc \Va\)

AutoNDA by SimpleDocs

Effect of Condemnation. (Aa) If (i) all of the Leased Premises or parking lot, are covered by a Condemnation, or (ii) if any part of the Leased Premises is covered by a Condemnation and the remainder thereof is insufficient for the reasonable operation therein of the Tenant's ’s business, or (iii) any of the Leased Premises Building is covered by a Condemnation and, in the Landlord's ’s reasonable opinion, reasonably concurred in by Tenant, it would be impractical to restore the remainder thereof, then, in any such event, the Lease Term shall terminate on the date upon which possession of so much of the Leased Premises as is covered by such Condemnation is taken by the condemning authority thereunder, and all rent Rent (including, by way of example rather then than of limitation, any Additional Rent Operating Costs payable pursuant to any Addendum regarding Additional Rentthe provisions of Paragraph 11), taxes, and other charges payable hereunder shall be prorated and paid to such date.

Appears in 2 contracts

Samples: Deed of Lease (Maravai Lifesciences Holdings, Inc.), Deed of Lease (Maravai Lifesciences Holdings, Inc.)

Effect of Condemnation. (Aa) If (i) all of the Leased Premises are covered by a Condemnation, or (ii) if any part of the Leased Premises is covered by a Condemnation and the remainder thereof is insufficient for the reasonable operation therein of the Tenant's business, or (iii) any of the Leased Premises Building is covered by a Condemnation and, in the Landlord's reasonable opinion, reasonably concurred in by Tenant, it would be impractical to restore the remainder thereof, then, in any such event, the Lease Term shall terminate on the date upon which possession of so much of the Leased Premises as is covered by such Condemnation is taken by the condemning authority thereunder, and all rent Rent (including, by way of example rather then than of limitation, any Additional Rent Operating Costs payable pursuant to any Addendum regarding Additional Rentthe provisions of Paragraph 11), taxesTax, and other charges payable hereunder shall be prorated and paid to such date.

Appears in 1 contract

Samples: Lease (Electronic Arts Inc)

Effect of Condemnation. (Aa) If (i) all of the Leased Premises are covered by a Condemnation, or (ii) if any part of the Leased Premises is covered by a Condemnation and the remainder thereof is insufficient for the reasonable operation therein of the Tenant's business, or (iii) any of the Leased Premises Building is covered by a Condemnation and, in the Landlord's reasonable opinion, it would be impractical to restore the remainder thereof, then, in any such event, event the Lease Term shall terminate on the date upon which possession of so much of the Leased Premises or the Building, as the case may be, as is covered by such Condemnation is taken by the condemning authority thereunder, and all rent Rent (including, by way of example rather then than of limitation, any Additional Rent payable pursuant to any Addendum regarding Additional Rentthe provisions of subsection 3.2), taxes, and other charges payable hereunder shall be prorated and paid to such date.

Appears in 1 contract

Samples: Salem Community Bankshares Inc

Effect of Condemnation. (Aa) If (i) all of the Leased Premises are covered by a Condemnation, or (ii) if any part of the Leased Premises is covered by a Condemnation and the remainder thereof is insufficient for the reasonable operation therein of the Tenant's business, or (iii) any of the Leased Premises Building is covered by a Condemnation and, in the Landlord's reasonable opinion, reasonably concurred in by Tenant, it would be impractical to restore the remainder thereof, then, in any such event, the Lease Term shall terminate on the date upon which possession of so much of the Leased Premises as is covered by such Condemnation is taken by the condemning authority thereunder, and all rent Rent (including, by way of example rather then than of limitation, any Additional Rent Operating Costs payable pursuant to any Addendum regarding Additional Rentthe provisions of Paragraph 11), taxes, and other charges payable hereunder shall be prorated and paid to such date.

Appears in 1 contract

Samples: Confidentiality Agreement (Network Access Solutions Corp)

AutoNDA by SimpleDocs

Effect of Condemnation. (Aa) If (i) all of the Leased Premises or parking areas are covered by a Condemnation, or (ii) if any part of the Leased Premises is covered by a Condemnation and the remainder thereof is insufficient for the reasonable operation therein of the Tenant's Tenants business, or (iii) any of the Leased Premises Building is covered by a Condemnation and, in the Landlord's reasonable opinion, reasonably concurred in by Tenant, it would be impractical to restore the remainder thereof, then, in any such event, the Lease Term shall terminate on the date upon which possession of so much of the Leased Premises as is covered by such Condemnation is taken by the condemning authority thereunder, and all rent Rent (including, by way of example rather then than of limitation, any Additional Rent Operating Costs payable pursuant to any Addendum regarding Additional Rentthe provisions of Paragraph 11), taxes, and other charges payable hereunder shall be prorated and paid to such date.

Appears in 1 contract

Samples: Confidentiality Agreement (Homegrocer Com Inc)

Effect of Condemnation. (A) If (i) all of the Leased Premises are covered by a Condemnation, or (ii) if any part of the Leased Premises is covered by a Condemnation and the remainder thereof is insufficient for the reasonable operation therein of the Tenant's business, or (iii) any of the Leased Premises is covered by a Condemnation and, in the Landlord's reasonable opinion, it would be impractical to restore the remainder thereof, then, in any such event, the Lease shall terminate on the date upon which possession of so much of the Leased Premises as is covered by such Condemnation is taken by the condemning authority thereunder, and all rent (including, by way of example rather then than of limitation, any Additional Rent payable pursuant to any Addendum regarding Additional Rent), taxes, and other charges payable hereunder shall be prorated and paid to such date.

Appears in 1 contract

Samples: Lease (Innotech Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.