Eminent Domain. If the whole or any part of the Premises or Project (including parking areas) shall be taken for public or quasipublic use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal property.
Appears in 3 contracts
Sources: Lease (Wam Net Inc), Lease Agreement (Cray Inc), Conference Center Lease Agreement (Cray Inc)
Eminent Domain. A. If a portion of the whole Building, or the Premises, shall be lawfully taken or condemned for any public or quasi-public use or purpose, or conveyed under threat of such condemnation, and as a result thereof, the Premises cannot be used for the same purpose and with the same utility as before such taking or conveyance, the terms of this Lease shall end upon, and not before, the date of the taking of possession by the condemning authority, and without apportionment of the award. In such event, Tenant hereby assigns to Landlord, Tenant's interest in such award, if any. Current rent shall be apportioned as of the date of such termination. If any part of the Premises or Project (including parking areas) Building shall be so taken for public or quasipublic use so condemned, or, if the grade of any street or alley adjacent to the Building is changed by a governmental any government authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause change of grade makes it necessary or desirable to demolish, substantially remodel, or restore the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leasedBuilding, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from cancel this Lease upon not less than ninety (90) days' prior notice to Tenant.
B. If a portion of the governmental authorityPremises shall be lawfully taken or condemned or conveyed under threat of condemnation but thereafter the Premises can be used by Tenant for the same purpose and with substantially the same utility, but this Lease shall not from Landlordbe terminated and Landlord shall repair the Premises, such compensation as may Building, and/or common area (to the extent applicable), and the Lease shall be awarded amended, if applicable, to reduce Tenant's Proportion and Base Rent in the proportion of the amount of the Premises taken. No money or other consideration shall be payable by Landlord to Tenant on account for any right of the interruption cancellation or temporary taking and Tenant shall have no right to share in any condemnation award or in any judgment for damage caused by a change of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertygrade.
Appears in 3 contracts
Sources: Office Lease (Biotel Inc.), Asset Purchase Agreement (Biotel Inc.), Office Lease (Biotel Inc.)
Eminent Domain. If 22.1. In the event (a) the whole or any part of the Premises or Project (including parking areasb) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or shall be conveyed sold to a governmental authority in lieu of prevent such taking, and if such taking Tenant or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, Landlord may terminate this Lease effective as of the date Tenant possession is required to surrender possession be surrendered to such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of a partial taking of the Premises as a result for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sole to prevent such taking. If a part , then, without regard to whether any portion of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's useoccupied by Tenant was so taken, then Landlord may elect to terminate this Lease shall be terminated (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to the part taken or conveyed as make it uneconomical to continue use of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render unappropriated portion for purposes of renting space for the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyedPermitted Use.
22.3. Tenant shall not have be entitled to any award that is specifically awarded as compensation for (a) the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value taking of Tenant's leasehold interestpersonal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. All compensation awarded Except as set forth in the previous sentence, any award for such taking or conveyance shall be the property of Landlord without Landlord.
22.4. If, upon any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account taking of the interruption nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant's business.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, moving the parties hereby waive the provisions of any Applicable Laws (and relocation expenses and depreciation any successor statutes) permitting the parties to and removal terminate this Lease as a result of Tenant's trade fixtures and personal propertyany damage or destruction.
Appears in 3 contracts
Sources: Lease Agreement (Ascend Wellness Holdings, LLC), Lease Agreement (Ascend Wellness Holdings, LLC), Purchase and Sale Agreement
Eminent Domain. If In the event that the whole or any part substantially all of the Leased Premises shall be condemned or Project taken in any manner (including parking areasagreement between Landlord and any governmental authority authorized to exercise such right) shall be taken for any public or quasipublic use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such takingquasi-public use, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease shall forthwith cease and terminate as of the date of vesting of title and the Rent due from Tenant is required hereunder shall be apportioned and paid to surrender possession such date of vesting. In the Premises as a result of such taking. If event that only a part of the Leased Premises or Project consisting of less than substantially all thereof shall be taken so condemned or conveyed but the remaining part is tenantable and adequate for Tenant's usetaken, then this Lease shall be terminated as to the part taken or conveyed effective as of the date Tenant surrenders possession; of vesting of title, the Rent reserved hereunder for such part shall be equitably abated and this Lease shall continue as to such part not so taken. If a substantial part or the whole of the Leased Premises is taken for a term of less than twelve (12) months, the Lease shall remain in full force and effect, except that Rent shall ▇▇▇▇▇ during the term of such temporary taking as to the portion of the Leased Premises so taken. In the event of any condemnation or taking, Landlord shall make such repairsbe entitled to receive the entire award in the condemnation proceeding, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon including any award made for the value of the estate vested by this Lease in Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant , and Tenant hereby expressly assigns to Landlord any and all its right, title and interest of Tenant now or hereafter arising in and or to any such award or any part thereof, and Tenant shall be entitled to receive no part of such award. HoweverNotwithstanding the foregoing, the Tenant shall have the right to recover from the governmental authoritya separate award for its trade fixtures, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving equipment and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertycosts.
Appears in 3 contracts
Sources: Lease Agreement, Lease Agreement (CONTRAFECT Corp), Lease Agreement (CONTRAFECT Corp)
Eminent Domain. a. If during the whole Term all or any part substantially all of the Premises or Project (including parking areas) Land and the Improvements shall be taken for public or quasipublic use by a governmental authority under in the exercise of the power of eminent domain or shall be conveyed to a governmental authority by private purchase in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's usethereof, then this Lease shall terminate on the date of vesting of title in the taking authority. The award(s) for any such taking shall be terminated as to shared by the part taken Landlord and the Tenant based on the relative value of each of their interests in the Premises. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award.
b. If during the Term less than all or conveyed as substantially all of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; Land and the rent Improvements shall be reduced taken in proportion to the part exercise of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon or by private purchase in lieu thereof, but such portion taken has a material adverse impact on the value of Tenant's leasehold interest. All compensation awarded for such taking use or conveyance shall be intended use of the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its rightPremises, title and interest in and to any such award. However, then the Tenant shall have the right to recover from terminate this Lease by written notice to the governmental authority, but not from Landlord, Landlord within ninety (90) days following the date of such compensation as may be awarded to Tenant on account taking or purchase. In the case of all other takings of less than all or substantially all of the interruption Land and Improvements or such private purchases thereof, this Lease shall continue in full force and effect and the Tenant shall proceed with reasonable diligence following receipt of Tenant's businessthe condemnation award to carry out any necessary repair and restoration. Any award from a partial taking shall be paid in the following order of priority: first, moving to the Tenant for such restoration; and relocation expenses second, the balance to the Landlord and depreciation the Tenant in proportion to the value of their relative interests in the Premises so taken. Any costs reasonably incurred by the parties in pursuing the eminent domain award shall be a first charge against the award. If this Lease shall continue in full force and removal effect following such taking, the Rent shall be permanently abated on a pro rata basis based on the value of Tenant's trade fixtures and personal propertythe Premises immediately prior to such taking as compared to the value of the remaining Premises immediately after to such taking.
Appears in 3 contracts
Sources: Ground Lease, Ground Lease, Ground Lease
Eminent Domain. If (1) the whole or any part a material portion of the Premises or Project (including parking areas) shall be taken for public or quasipublic use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or condemned by a governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking), or (2) if the owner elects to convey title to the condemnor by a deed in lieu of condemnation, or (3) if all or any portion of the Property are so taken, condemned or conveyed but and as a result thereof, in Landlord’s reasonable judgment, the remaining part is tenantable and adequate Premises are rendered untenantable for Tenant's usethe Permitted Use, then this Lease shall be terminated as to the part taken or conveyed cease and terminate as of the earlier of the date as of which Tenant surrenders possession; Landlord shall make is required to vacate the Premises or the date when title vests in such repairsgovernmental or quasi-governmental authority and Base Rent, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; charges on account of Taxes and the rent Operating Expenses, shall be reduced in proportion to the part abated as of that date. If less than a material portion of the Premises so shall be taken or conveyed. Tenant shall not have the right to assert condemned by a claim against the governmental or quasi-governmental authority exercising its power for any public or quasi-public use or purpose (including sale under threat of eminent domain based upon the value such a taking), then this Lease shall continue in full force and effect; provided, however, that Base Rent, and charges on account of Tenant's leasehold interest. All compensation awarded for such taking or conveyance Taxes and Operating Expenses, shall be equitably abated on the property of Landlord without date when such title vests in such governmental or quasi-governmental authority. In any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. Howevercase, Tenant shall have no claim against Landlord for any portion of the right to recover from the governmental authority, but not from Landlord, such compensation as amount that may be awarded as damages as a result of any governmental or quasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all rights of Tenant to damages therefor are hereby assigned by Tenant on account to Landlord. The foregoing shall not, however, deprive Tenant of any separate award for Tenant’s personal property, moving expenses, dislocation damages or for any other award which would not reduce the award payable to Landlord and Landlord’s mortgagee (if any). As used herein, “material portion of the interruption Premises” shall mean such amount that, in Landlord’s reasonable judgment, would render more than fifty percent of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertythe Premises untenantable for the Permitted Use.
Appears in 2 contracts
Sources: Sublease (Larimar Therapeutics, Inc.), Office Lease Agreement (Zafgen, Inc.)
Eminent Domain. If the whole or any part more than twenty-five (25%) per cent of the Premises or Project (including parking areas) shall be taken for or appropriated by any public or quasipublic use by a governmental quasi-public authority under the power of eminent domain or domain, either party hereto shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause have the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant mayright, at its option, to terminate this Lease, and Landlord shall be entitled to any and all income, rent, award, or any interest therein whatsoever which may be paid or made in connection with such public or quasi-public use or purpose, and Tenant shall have no claim against Landlord for the value of any unexpired term of this Lease. If either less than or more than twenty-five (25%) per cent of the Premises is taken and neither party elects to terminate as herein provided, the rental thereafter to be paid shall be equitably reduced based upon the proportion of the Premises taken. If more than fifty percent (50%) of the Building other than the Premises may be so taken or appropriated, Landlord shall have the right at its option to terminate this Lease and shall be entitled to the entire award as above provided. Notwithstanding any of the date Tenant is required to surrender possession of foregoing in the Premises as a result of such taking. If a part of event that any taking under the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon shall affect the value Premises in such a manner that, in Tenant's reasonable opinion, such damage materially and adversely interferes with the conduct of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. Howeverbusiness, Tenant shall have the right to recover from terminate this Lease upon written notice thereof to Landlord. Notwithstanding the governmental authorityforegoing, but not from Landlord, such compensation as may Tenant shall be awarded entitled to that portion of any award which is separately stated which compensates Tenant on account of the interruption of for Tenant's business, moving and relocation expenses and depreciation to and removal loss of Tenant's trade fixtures fixtures, equipment and personal property.
Appears in 2 contracts
Sources: Lease (Quokka Sports Inc), Lease (Quokka Sports Inc)
Eminent Domain. Except as hereinafter provided, if the Premises, or such portion thereof as to render the balance (if reconstructed to the maximum extent practicable in the circumstances) unsuitable for continued occupancy for the purposes contemplated under this Lease, or if access to the Building or Premises, shall be taken by condemnation or right of eminent domain, the Landlord and the Tenant shall each have the right to terminate this Lease by notice to the other of its desire to do so, provided that such notice is given not later than thirty (30) days after receipt by the Tenant of notice of the effective date of such taking. If so much of the whole or Building shall be so taken that the Landlord reasonably determines, in good faith, that it would be necessary to substantially alter the Building so that a rebuilt Building will not be substantially similar to the Building before such taking, the Landlord shall have the right to terminate this Lease by giving notice to the Tenant of the Landlord’s desire to do so not later than thirty (30) days after the effective date of such taking. Should any part of the Premises be so taken or Project (including parking areas) shall be taken for public or quasipublic use by a governmental authority under condemned during the power of eminent domain or shall be conveyed to a governmental authority in lieu of such takingTerm, and if such taking or conveyance shall cause should this Lease be not terminated in accordance with the remaining part foregoing provisions, the Landlord agrees to use reasonable efforts to put what may remain of the Premises to be untenantable and inadequate into proper condition for use by Tenant for and occupation as nearly like the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession condition of the Premises prior to such taking as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable practicable, subject, however, to applicable laws and adequate for Tenant's use, codes then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; in existence. The Landlord shall make such repairs, alterations and improvements as may be necessary have no obligation to render expend in the part not taken aforesaid restoration more than the proceeds of any award received in any condemnation or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking proceeding, or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest sum paid in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertylieu thereof.
Appears in 2 contracts
Sources: Lease Agreement (Fulcrum Therapeutics, Inc.), Lease Agreement (Fulcrum Therapeutics, Inc.)
Eminent Domain. 21.1 If the whole Building, or any a substantial part thereof, or a substantial part of the Premises or Project (including parking areas) Common Areas, shall be lawfully taken for public or quasipublic use by a governmental authority condemned (or conveyed under the power threat of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance condemnation) for any public or quasi-public use or purpose, the Term of this Lease shall cause end upon, and not before, the remaining part date of the Premises to taking of possession by the condemning authority. Current Rent shall be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease apportioned as of the date Tenant is required to surrender possession of the Premises as a result of such takingtermination. If a any part of the Building, other than the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the constituting a substantial part of the Premises Premises, shall be so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power condemned (or conveyed under threat of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall condemnation), or if the grade of any street adjacent to the Building is changed by any competent authority and such taking or change of grade makes it necessary or desirable to substantially remodel or restore the Building, which could not be accomplished without the property total relocation of Tenant, Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover cancel this Lease upon not less than sixty (60) days' notice prior to the date of cancellation designated in the notice. No money or other consideration shall be payable by Landlord to Tenant for the right of cancellation, and Tenant shall have no right to share in any condemnation award, or in any judgment for damages, or in any proceeds of any sale made under any threat of condemnation or taking. Nothing in this Section shall prevent Tenant from making and pursuing a claim against the governmental authoritycondemning authority in its own right for termination of its leasehold interest, but not from Landlord, such compensation as moving costs and other amounts to which Tenant may be awarded entitled. If this Lease is not canceled, the Lease shall continue in full force and effect, and Rent shall be equitably abated in proportion to Tenant on account any reduction in the size and utility of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertyPremises.
Appears in 2 contracts
Sources: Lease Agreement (Chaparral Network Storage Inc), Lease Agreement (Chaparral Network Storage Inc)
Eminent Domain. If at any time during the whole term of this Lease the entire Premises or any part of the Premises or Project (including parking areas) thereof shall be taken for public or quasipublic use by as a governmental authority under result of the exercise of the power of eminent domain or shall be conveyed to a governmental authority by an agreement in lieu thereof, this Lease shall terminate as to the part so taken as of such taking, and if such taking the date possession is taken by the condemning authority. If all or conveyance shall cause the remaining part any substantial portion of the Premises to shall be untenantable and inadequate for use by Tenant for the purpose for which they were leasedtaken, then Tenant may, Landlord may terminate this Lease at its option, terminate this Lease as by giving Tenant written notice of the date Tenant is required to surrender possession of the Premises as a result such termination within thirty (30) days of such taking. If all or a part Portion of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for are so substantial that Tenant's useuse of the Premises is substantially impaired, then Tenant may terminate this Lease at its option, but giving landlord written notice of such termination within thirty (30) days of such taking. If neither party terminates this Lease pursuant this Article, this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairsremain in full force and effect, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and except that the rent payable by Tenant hereunder shall be reduced in the proportion to that the part area of the Premises so taken or conveyedbears to the total Premises. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance Landlord shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant entitled to and Tenant hereby assigns to Landlord all its right, title and the entire amount of any award in connection with such taking. Nothing in this Article shall give Landlord any interest in and or preclude Tenant from seeking, on its own account, any award attributable to any such award. Howeverthe taking of personal property or trade fixtures belonging to Tenant, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of or for the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal property.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement (A-Z South State Corp)
Eminent Domain. If 23.1 In the event the whole or any part of the Premises or Project (including parking areas) shall be taken for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or shall be conveyed sold to a governmental authority in lieu of prevent such taking, and Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority.
23.2 In the event of a partial taking of the Project for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sold to prevent such taking, then Landlord may elect to terminate this Lease if such taking or conveyance shall cause the remaining part is of a material nature such as to make it uneconomical to continue use of the Premises to be untenantable and inadequate for use by Tenant unappropriated portions for the purpose purposes for which they were leasedintended, then and Tenant may, at its option, may elect to terminate this Lease if such taking is of material detriment to, and substantially interferes with, Tenant’s use and occupancy of the Premises. In no event shall this Lease be terminated when such a partial taking does not have a material adverse effect upon Landlord or Tenant or both. Termination by either party pursuant to this section shall be effective as of the date Tenant possession is required to surrender possession be surrendered to said authority.
23.3 If upon any taking of the Premises as a result of such taking. If a part nature described in this Article 23 this Lease continues in effect, then Landlord shall promptly proceed to restore the remaining portion of the Premises or Project Project, including all improvements and fixtures located in the Premises, to substantially their same condition prior to such partial taking; provided, however, Landlord’s obligation hereunder shall be taken or conveyed but limited to the remaining part is tenantable and adequate for Tenant's use, then this Lease amount of the condemnation proceeds. Basic Annual Rent shall be terminated as to abated proportionately on the part taken or conveyed as basis of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part square feet of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account Rentable Area of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertyProject or Premises taken.
Appears in 2 contracts
Sources: Lease (Genelux Corp), Lease (Genelux Corp)
Eminent Domain. a. If the whole or any part portion of the Premises Premises, Building or Project (including parking areas) areas shall be taken or condemned by any competent authority for any public or quasipublic quasi-public use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, purpose and if such taking or conveyance shall cause substantially thwarts the remaining part intended use of the Premises to be untenantable and inadequate for use facility by Tenant for the purpose for which they were leasedTENANT, then Tenant may, at its option, terminate this Lease shall cease and terminate as of the date Tenant is on which title shall vest thereby in that authority.
b. If a portion of the Premises shall be taken or condemned by any competent authority for any public or quasi-public use or purpose and such taking does not negatively affect the ingress and egress to the Premises, or substantially thwart the intended use of the facility by TENANT, as reasonably determined by TENANT, this Lease and the terms hereof shall not cease or terminate, but the Rent payable after the date on which TENANT shall be required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent portion shall be reduced in proportion to the part decreased use suffered by TENANT as the parties may agree or as shall be determined by arbitration.
c. In the event of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such any taking or conveyance condemnation in whole or in part, the entire resulting award of damages shall be the property of Landlord belong to LANDLORD without any deduction therefrom for the value of the unexpired term of this Lease or for any present other estate or future estate of Tenant and Tenant hereby interest in the Premises now or later vested in TENANT. TENANT assigns to Landlord LANDLORD all its right, title title, and interest in any and all such awards, except any award for the TENANT’S business damages. TENANT shall not be prohibited from pursuing its own action for business damages against the condemning authority. LANDLORD shall not be responsible to the TENANT for any such award. However, Tenant shall have damages caused by the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertytaking.
Appears in 2 contracts
Sources: Lease Agreement (Trulieve Cannabis Corp.), Lease Agreement (Trulieve Cannabis Corp.)
Eminent Domain. If the whole or Either party may terminate this Lease if any material part of the Premises is taken or Project (including parking areas) shall be taken condemned for any public or quasipublic quasi-public use under Law, by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority conveyance in lieu of such taking, and if such taking or conveyance thereof (a “Taking”). Landlord shall cause also have the remaining part of the Premises right to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease if there is a Taking of any portion of the Building or Property that would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The terminating party shall provide written notice of termination to the other party within forty-five (45) days after it first receives notice of the Taking. The termination shall be effective as of the effective date Tenant of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is required not terminated, Base Rent and Tenant’s Share shall be appropriately adjusted to surrender possession account for any reduction in the square footage of the Premises as Building or Premises. All compensation awarded for a result Taking shall be the property of Landlord. The right to receive compensation or proceeds is expressly waived by Tenant, provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of such takingclaim does not diminish the amount of Landlord’s award. If only a part of the Premises or Project shall be taken or conveyed but is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part portion of the Premises so taken or conveyedas nearly as practicable to the condition immediately prior to the Taking. Tenant shall not hereby waives any and all rights it might otherwise have the right pursuant to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account Section 1265.130 of the interruption California Code of Tenant's businessCivil Procedure, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertyany similar or successor Laws.
Appears in 2 contracts
Sources: Office Lease Agreement (On24 Inc), Office Lease Agreement (Velti PLC)
Eminent Domain. If the whole or any part a material portion of the Premises (or Project (including parking areasuse or occupancy of the Premises) shall be taken for public or quasipublic use condemned by a governmental authority under the power of eminent domain or shall be conveyed to a quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking), or if the owner elects to convey title to the condemnor by a deed in lieu of such takingcondemnation, and or if such taking all or conveyance shall cause the remaining part any portion of the Premises to be untenantable Land or Building are so taken, condemned or conveyed and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of thereof, in Landlord’s judgment, the Premises or Project shall cannot be taken or conveyed but the remaining part is tenantable and adequate used for Tenant's use’s permitted use as set forth herein, then this Lease shall be terminated as to the part taken or conveyed cease and terminate as of the date Tenant surrenders possession; Landlord shall make when title vests in such repairs, alterations and improvements as may be necessary to render the part not taken governmental or conveyed tenantable; quasi-governmental authority and the rent Fixed Rent and Additional Rent shall be reduced abated on the date when such title vests in proportion to the part such governmental or quasi-governmental authority. If less than a material portion of the Premises so is taken or conveyed. Tenant shall not have the right to assert a claim against the condemned by any governmental or quasi-governmental authority exercising its power for any public or quasi-public use or purpose (including sale under threat of eminent domain based upon such a taking), the value of Fixed Rent and Tenant's leasehold interest. All compensation awarded for such taking or conveyance ’s proportionate share shall be equitably adjusted (on the property basis of Landlord without the number of square feet before and after such event) on the date when title vests in such governmental or quasi-governmental authority and this Lease shall otherwise continue in full force and effect. In any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. Howevercase, Tenant shall have no claim against Landlord for any portion of the right to recover from the governmental authority, but not from Landlord, such compensation as amount that may be awarded as damages as a result of any governmental or quasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all rights of Tenant to damages therefor are hereby assigned by Tenant on account to Landlord. The foregoing shall not, however, deprive Tenant of any separate award for moving expenses, dislocation damages or for any other award which would not reduce the interruption of Tenant's business, moving and relocation expenses and depreciation award payable to and removal of Tenant's trade fixtures and personal propertyLandlord.
Appears in 2 contracts
Sources: Lease Agreement (Histogenics Corp), Lease Agreement (Histogenics Corp)
Eminent Domain. If the whole or any part of the Premises or Project (including parking areas) shall be taken for public or quasipublic quasi-public use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such takingPremises. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's ’s use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant Tenant, and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant ▇▇▇▇▇▇ shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's ’s business, moving and relocation expenses and depreciation to and removal of Tenant's ▇▇▇▇▇▇’s trade fixtures and personal property, so long as such award does not reduce the Landlord’s award.
Appears in 2 contracts
Sources: Office Lease (MBX Biosciences, Inc.), Office Lease (MBX Biosciences, Inc.)
Eminent Domain. If In the event the whole or any part of the Premises Premises, Building or Project (including parking areas) Property, or such part thereof as shall substantially interfere with Tenant's use and occupation thereof, shall be taken for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or shall be conveyed to a governmental authority is sold in lieu of or to prevent such taking, either party shall have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, and if such taking Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or conveyance interest of Tenant in the Premises. Nothing contained in this Section 12.01 shall cause the remaining part of the Premises be deemed to be untenantable and inadequate for use by give Landlord any interest in any separate award made to Tenant for the purpose for which they were leased, then taking of personal property and fixtures belonging to Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to moving expenses. In the part event the amount of property or the type of estate taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have substantially interfere with the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption conduct of Tenant's business, moving and relocation expenses and depreciation Landlord shall be entitled to and removal the entire amount of the award without deduction for any estate or interest of Tenant's trade fixtures , Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation, and personal propertythe Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restoration.
Appears in 2 contracts
Sources: Lease (Eden Bioscience Corp), Lease Agreement (Data Critical Corp)
Eminent Domain. If 23.1 In the whole event the Premises or the Building or any part portion thereof 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, Tenant or Landlord may terminate this Lease upon the earlier of sixty (60) days after notice of such taking or the date possession is required to be surrendered to said authority.
23.2 In the event of a partial taking of the Premises or Project (including parking areas) shall be taken the Building for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under the power by exercise of right of appropriation, condemnation, or eminent domain domain, or shall be conveyed sold to a governmental authority in lieu of prevent such taking, and then Landlord may elect to terminate this Lease if such taking or conveyance shall cause the remaining part is of a material nature such as to make it uneconomical to continue use of the Premises to be untenantable and inadequate for use by Tenant unappropriated portions for the purpose purposes for which they were leasedintended, then and Tenant may, at its option, may elect to terminate this Lease if such taking is of material detriment to, and substantially interferes with, Tenant’s use and occupancy of the Premises. In no event shall this Lease be terminated when such a partial taking does not have a material adverse effect upon Landlord or Tenant or both. Termination by either party pursuant to this section shall be effective upon the earlier of sixty (60) days after notice of such partial taking or as of the date Tenant possession is required to surrender possession be surrendered to said authority.
23.3 If upon any taking of the nature described in this Article 23 this Lease continues in effect, then Landlord shall promptly proceed to restore the remaining portion of the Premises and the Building to substantially their same condition prior to such partial taking. Basic Annual Rent shall be abated proportionately on the basis of the rental value of the Premises as a result of restored after such taking. If a part taking compared to the rental value of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as prior to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertytaking.
Appears in 2 contracts
Sources: Lease (Biocept Inc), Lease (Biocept Inc)
Eminent Domain. If the whole or any part a material portion of the Premises (or Project (including parking areasuse or occupancy of the Premises) shall be taken for public or quasipublic use condemned by a governmental authority under the power of eminent domain or shall be conveyed to a quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking), or if the owner elects to convey title to the condemnor by a deed in lieu of such takingcondemnation, and or if such taking all or conveyance shall cause the remaining part any portion of the Premises to be untenantable Land or Building are so taken, condemned or conveyed and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of thereof, in Landlord’s reasonable but sole judgment, the Premises or Project shall cannot be taken or conveyed but the remaining part is tenantable and adequate used for Tenant's use’s Permitted Use as set forth herein, then this Lease shall be terminated as to the part taken or conveyed cease and terminate as of the date Tenant surrenders possession; Landlord shall make when title vests in such repairs, alterations governmental or quasi-governmental authority and improvements as may be necessary to render the part not taken or conveyed tenantable; Fixed Rent and the rent Additional Rent shall be reduced abated on the date when such title vests in proportion to the part such governmental or quasi-governmental authority. If less than a material portion of the Premises so is taken or conveyed. Tenant shall not have the right to assert a claim against the condemned by any governmental or quasi-governmental authority exercising its power for any public or quasi-public use or purpose (including sale under threat of eminent domain based upon such a taking), Landlord shall promptly restore the value remaining portion of the Premises to an architecturally and functionally complete unit, and Fixed Rent and Tenant's leasehold interest. All compensation awarded for such taking or conveyance ’s Proportionate Share shall be equitably adjusted (on the property basis of Landlord without the number of square feet before and after such event) on the date when title vests in such governmental or quasi-governmental authority and this Lease shall otherwise continue in full force and effect. In any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. Howevercase, Tenant shall have no claim against Landlord for any portion of the right to recover from the governmental authority, but not from Landlord, such compensation as amount that may be awarded as damages as a result of any governmental or quasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all rights of Tenant to damages therefor are hereby assigned by Tenant on account to Landlord. The foregoing shall not, however, deprive Tenant of any separate award for moving expenses, dislocation damages, value of furnishing and trade fixtures, or for any other award which would not reduce the interruption of Tenant's business, moving and relocation expenses and depreciation award payable to and removal of Tenant's trade fixtures and personal propertyLandlord.
Appears in 2 contracts
Sources: Lease Agreement (Spero Therapeutics, Inc.), Lease Agreement (Spero Therapeutics, Inc.)
Eminent Domain. (a) If the whole or any part less than substantially all of the Premises or Project (including parking areas) shall be taken for public or quasipublic use by quasi-public purposes, having a governmental authority under material impact on Tenant's operations, Tenant will promptly, at its sole cost and expense, restore, repair, replace or rebuild the power of eminent domain or shall be conveyed improvements so taken as nearly as practicable to a governmental authority in lieu of the condition, quality and class thereof immediately prior to such taking, or with such changes or alterations as Tenant shall elect to make in conformity with Paragraph 23 of this Lease. In performing its obligations, Tenant shall be entitled to condemnation proceeds under the same terms and if such taking or conveyance shall cause the remaining part conditions set forth for casualty proceeds in Paragraph 11 hereof. Any condemnation proceeds in excess of the Premises amount claimed by any lender of Landlord, and such amounts as are made available to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as restoration or repair of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's usePremises, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the sole and exclusive property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such awardLandlord. However, Tenant shall have the right to recover from the governmental authority, but not from participate in condemnation proceedings with Landlord, such compensation and shall be entitled to receive any separate award made by the condemning authority in respect of business interruption or business relocations.
(b) If the Landlord is entitled to condemnation proceeds as may describing the next to last sentence of Paragraph 13(a), each installment of Fixed Rent thereafter payable hereunder shall be awarded to Tenant on account reduced by a fraction thereof, the numerator of which shall be the proceeds retained by Landlord and the denominator of which shall be the Purchase Price specified in the Basic Lease Information.
(c) If all or substantially all of the interruption Premises shall be taken for public or quasi-public purposes, then the provisions of Tenant's business, moving and relocation expenses and depreciation to and removal Paragraph 14 of Tenant's trade fixtures and personal propertythis Lease shall apply.
Appears in 2 contracts
Sources: Lease Agreement (Caterair International Inc /Ii/), Lease Agreement (Caterair International Inc /Ii/)
Eminent Domain. If the whole Building, or any a substantial part thereof or a substantial part of the Premises or Project (including parking areas) Premises, shall be lawfully taken for public or quasipublic use by a governmental authority under the power of eminent domain condemned or shall be conveyed to a governmental authority in lieu thereof, (or conveyed under threat of such taking, and if such taking or conveyance shall cause condemnation), for any public or quasi-public use or purpose, the remaining part term of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to end upon and not before the part taken or conveyed as date of the date Tenant surrenders possession; Landlord shall make such repairs, alterations taking of possession by the condemning authority and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part without apportionment of the Premises so taken or conveyedaward. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right▇▇▇▇▇▇'s interest, title if any, in such award and interest in and to specifically agrees that any such awardaward shall be the entire property of Landlord in which Tenant shall not be entitled to share. HoweverTenant further waives any right to challenge the right of the condemning authority to proceed with such taking. Current rent shall be apportioned as of the date of such termination. If any part of the Building other than the Premises or not constituting a substantial part of the Premises, shall be so taken or condemned (or conveyed under threat of such taking or condemnation), or if the grade of any street adjacent to the Building is changed by any competent authority and such taking or change of grade makes it necessary or desirable to substantially remodel or restore the Building, Landlord shall have the right to cancel this Lease upon not less than ninety (90) days notice prior to the date of cancellation designated in the notice. No money or other consideration shall be payable by Landlord to Tenant for the right of cancellation, and Tenant shall have no right to share in any condemnation award or in any judgment for damages or in any proceeds of any sale made under any threat of condemnation or taking. Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and separately pursue its own award for relocation expenses and depreciation to and removal in the event of Tenant's trade fixtures and personal propertysuch condemnation proceedings.
Appears in 2 contracts
Sources: Lease Agreement (Alliance Data Systems Corp), Lease Agreement (Improvenet Inc)
Eminent Domain. If the whole all or any part of the Premises or Project (including parking areas) shall be is taken for public or quasipublic quasi-public use by a governmental authority under the power of eminent domain or shall be is conveyed to a governmental authority in lieu of such taking, and if such the taking or conveyance shall cause causes the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant mayTenant, at its optionoption and by giving notice within fifteen (15) days after the taking, may terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such takingPremises. If a part of the Premises or Project shall be is taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent Rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such the taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant Tenant, and Tenant hereby assigns to Landlord all its right, title and interest in and to any such the award. However, Tenant shall have the right right, however, to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to expenses; and removal of Tenant's trade fixtures and personal property.
Appears in 2 contracts
Sources: Sublease (Marvell Technology Group LTD), Lease (Pc Tel Inc)
Eminent Domain. If the whole of the Lease Premises shall be taken or condemned in any eminent domain, condemnation, compulsory acquisition or like proceeding by any competent authority, this Lease Agreement shall terminate as of the date of such taking or condemnation. The LESSOR shall refund to the LESSEE the Security Deposit, less any amount that may be properly deducted therefrom in accordance with the terms of this Lease Agreement. If only part of the Leased Premises or the RCBC Plaza Tenancy Areas shall be taken or condemned in any eminent domain, condemnation, compulsory acquisition or like proceeding, by any competent authority for any public or quasi-public use or purpose, then this Lease Agreement shall continue to be effective, subject to the proportionate reduction of the Rent due. In either of the foregoing events, the LESSEE shall not have any right or claim to any part of the Premises compensation or Project (including parking areas) shall be taken for public award granted or quasipublic use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate granted to the LESSOR as consideration for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of However, provided that the Premises or Project compensation to be received by the LESSOR shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to thereby, nothing contained herein shall preciude the part of LESSEE from claiming, proving and receiving from the Premises so taken or conveyed. Tenant shall not have the right to assert condemning authority a claim against the governmental authority exercising its power of eminent domain based upon separate award for the value of Tenantany of the LESSEE's leasehold interest. All compensation awarded for such taking or conveyance shall be property taken by the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall condemning authority which the LESSEE could have the right to recover rightfully removed from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertyLeased Premises hereunder.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement (Access Worldwide Communications Inc)
Eminent Domain. If 22.1. In the event (a) the whole or any part of the Premises or Project (including parking areasb) such part thereof as shall substantially interfere with Tenant’s use and occupancy of the Premises for the Permitted Use shall be taken for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or shall be conveyed sold to a governmental authority in lieu of prevent such taking, and if such taking Tenant or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, Landlord may terminate this Lease effective as of the date Tenant possession is required to surrender possession be surrendered to such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
22.2. In the event of a partial taking of the Premises as a result for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sold to prevent such taking. If a part , then, without regard to whether any portion of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's useoccupied by Tenant was so taken, then Landlord may elect to terminate this Lease shall be terminated (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to the part taken or conveyed as make it uneconomical to continue use of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render unappropriated portion for the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyedPermitted Use.
22.3. Tenant shall not have be entitled to any award that is specifically awarded as compensation for (a) the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value taking of Tenant's leasehold interest’s personal property or trade fixtures that were purchased or installed at Tenant’s expense, including without limitation, any crops or inventory at the Property and (b) the costs of Tenant moving to a new location. All compensation awarded Except as set forth in the previous sentence, any award for such taking or conveyance shall be the property of Landlord without Landlord.
22.4. If, upon any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account taking of the interruption nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant's business.
22.5. This Section 22 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, moving the parties hereby waive the provisions of any Applicable Laws (and relocation expenses and depreciation any successor statutes) permitting the parties to and removal terminate this Lease as a result of Tenant's trade fixtures and personal propertyany damage or destruction.
Appears in 2 contracts
Sources: Lease Agreement (Innovative Industrial Properties Inc), Lease Agreement (Innovative Industrial Properties Inc)
Eminent Domain. (a) If the whole or any part portion of the Premises Premises, Building or Project (including parking areas) areas shall be taken or condemned by any competent authority for any public or quasipublic quasi-public use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, purpose and if such taking or conveyance shall cause substantially thwarts the remaining part intended use of the Premises to be untenantable and inadequate for use facility by Tenant for the purpose for which they were leasedTenant, then Tenant may, at its option, terminate this Lease shall cease and terminate as of the date on which title shall vest thereby in that authority.
(b) If a portion of the Premises shall be taken or condemned by any competent authority for any public or quasi-public use or purpose and such taking does not negatively affect the ingress and egress to the Premises, or substantially thwart the intended use of the facility by Tenant, as reasonably determined by Tenant, this Lease and the terms hereof shall not cease or terminate, but the Rent payable after the date on which Tenant is shall be required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent portion shall be reduced in proportion to the part decreased use suffered by Tenant as the parties may agree or as shall be determined by arbitration.
(c) In the event of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such any taking or conveyance condemnation in whole or in part, the entire resulting award of damages shall be the property of belong to Landlord without any deduction therefrom for the value of the unexpired term of this Lease or for any present other estate or future estate of interest in the Premises now or later vested in Tenant and Tenant hereby assigns to Landlord all its right, title title, and interest in any and to all such awards, except any such awardaward for the Tenant’s business damages. However, Tenant shall have not be prohibited from pursuing its own action for business damages against the right condemning authority. Landlord shall not be responsible to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of for any damages caused by the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertytaking.
Appears in 2 contracts
Sources: Lease Agreement (Trulieve Cannabis Corp.), Lease Agreement (Trulieve Cannabis Corp.)
Eminent Domain. 20.1. If at any time during the whole term of this Lease or any part renewal, a portion of the Demised Premises or Project (including parking areas) shall be the Building and the Land of which the Demised Premises are a part, as would render Tenant’s use unprofitable or impractical, is taken or appropriated by virtue of eminent domain, or other similar proceedings, or condemned for any public or quasipublic use quasi-public use, Tenant will have the right and privilege of terminating this Lease, termination to be effective upon the earlier of the taking of possession by a governmental authority under or vesting of title to the power of eminent domain or shall be conveyed to a governmental authority Demised Premises in lieu the condemning authority. Tenant will give notice of such takingtermination as soon as practical but no later than ten (10) business days after it receives notice of the first to occur of: (a) the taking of possession by, or (b) vesting of title in the condemning authority. All of the Rent and if other charges and payments reserved herein will be permanently abated from the time of such taking or appropriation. In the event of any taking pursuant to this paragraph 20, or a conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leasedin lieu thereof, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the no right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and entitlement to any such awardportion of any award given to Landlord. However, Tenant shall have the right to recover pursue its own rights and remedies from the governmental condemning authority, but such right shall not from interfere with, abridge the rights of, nor substantially reduce the award payable to Landlord.
20.2. In the event the entire Demised Premises is taken or appropriated by virtue of eminent domain, such compensation as may be awarded to Tenant or other similar proceedings, or is condemned for any public or quasi-public use, then this Lease will terminate on account the earlier of: (i) the taking of possession by or (ii) vesting of title in the condemning authority.
20.3. In the event of a partial taking or appropriation of the interruption Demised Premises or the Building and the Land not resulting in a termination of Tenant's businessthis Lease, moving Tenant will be entitled to an abatement of rent, immediately upon the taking, in such manner as is just and relocation expenses equitable. In the event such amount cannot be agreed upon between the parties, the amount will be determined by arbitration in accordance with the rules and depreciation to and removal procedures of Tenant's trade fixtures and personal propertythe American Arbitration Association.
Appears in 2 contracts
Sources: Lease (Targacept Inc), Lease Agreement (Targacept Inc)
Eminent Domain. If 26.1. In the event the whole or any part of the Premises Premises, or Project (including parking areas) such part thereof as shall substantially interfere with Tenant’s use and occupancy thereof, shall be taken for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or shall be conveyed sold to a governmental authority in lieu of prevent such taking, and if Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority.
26.2. In the event of a partial taking of the Building or the Project, or of drives, walkways or parking areas serving the Building or the Project for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sold to prevent such taking or conveyance shall cause the remaining part taking, then, without regard to whether any portion of the Premises to be untenantable and inadequate for use occupied by Tenant for the purpose for which they were leasedwas so taken, then Tenant may, at its option, Landlord may elect to terminate this Lease as of the date Tenant is required such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to surrender possession make it uneconomical to continue use of the Premises as a result unappropriated portion for purposes of such taking. If a part of the Premises renting office or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyedlaboratory space.
26.3. Tenant shall not have be entitled to any award that is specifically awarded as compensation for (a) the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value taking of Tenant's ’s personal property that was installed at Tenant’s expense, (b) the costs of Tenant moving to a new location and (c) lost profits, goodwill and leasehold interestimprovements paid for by Tenant. All compensation awarded Except as set forth in the previous sentence, any award for such taking or conveyance shall be the property of Landlord without Landlord.
26.4. lf, upon any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account taking of the interruption nature described in this Article 26, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises, the Building and the Project, as applicable, to substantially their same condition prior to such partial taking. To the extent such restoration is feasible, as determined by Landlord in its reasonable discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal property.
Appears in 2 contracts
Sources: Lease (Ardelyx, Inc.), Lease (Ardelyx, Inc.)
Eminent Domain. (a) If the whole or any part of the Premises (or Project (including parking areasif less than all, but, in the reasonable judgment of Tenant, the remaining portion cannot be feasibly operated as then used or intended to be used) shall be taken for any public or quasipublic quasi-public use under any statute or by a governmental authority under the power right of eminent domain or shall be conveyed to a governmental authority by private purchase in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's usethereof, then this Lease shall be terminated as to the part taken or conveyed automatically terminate as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render that possession has been taken.
(b) In the part not taken event of a partial taking or conveyed tenantable; condemnation which takes less than all of the Premises and the rent Lease is not terminated as set forth in Section 22(a) above, then Tenant, subject to the exceptions provided below, shall promptly restore the Premises to an architectural whole, and this Lease shall continue in full force and effect; provided, however, that the Base Rent shall thereafter be reduced decreased in proportion to the part amount of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of taken.
(c) Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns each covenant and agree to Landlord all its right, title and interest seek separate awards in any condemnation proceedings and to use their respective best efforts to see that such separate awards are made at all stages of all proceedings. If the order or decree in any such award. However, Tenant condemnation or similar proceeding shall have fail to separately state the right amount to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Landlord and Tenant on account by way of compensation, damages, rent, the costs of demolition, removal or restoration, or otherwise, then the award should be divided as follows:
(i) First, to the payment of all demolition and construction costs associated with restoration if the improvements are to be restored by Tenant and/or all costs of removal of rubble and debris if Tenant is obligated to remove the same; and then
(ii) The remaining proceeds shall be applied as follows:
(1) Landlord shall receive the fair market value of the interruption of Tenant's business, moving Land; and relocation expenses and depreciation (2) Tenant shall be entitled to and removal of Tenant's trade fixtures and personal propertyall remaining proceeds.
Appears in 2 contracts
Sources: Ground Lease Agreement (Campus Crest Communities, Inc.), Ground Lease Agreement (Campus Crest Communities, Inc.)
Eminent Domain. If the whole or any part more than fifty percent (50%) of the Demised Premises (or Project (including parking areasuse or occupancy of the Demised Premises) shall be taken or condemned by an governmental or quasi-governmental authority for any public or quasipublic quasi-public use or purpose (including sale under threat of such a taking), or if the owner elects to convey title to the condemnor by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority deed in lieu of such takingcondemnation, and or if such taking all or conveyance shall cause the remaining part any portion of the Premises to be untenantable Land or Building are so taken, condemned or conveyed and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of thereof, in Landlord’s judgment, the Demised Premises or Project shall cannot be taken or conveyed but the remaining part is tenantable and adequate used for Tenant's use’s permitted use as set forth herein, then this Lease shall be terminated as to the part taken or conveyed cease and terminate as of the date Tenant surrenders possession; Landlord when title vests in such governmental or quasi-governmental authority and the Fixed Rent and Additional Rent shall make be abated on the date when such repairs, alterations and improvements as may be necessary to render title vests in such governmental or quasi-governmental authority. If less than fifty percent (50%) of the part not Demised Premises is taken or conveyed tenantable; condemned by any governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking), the Fixed Rent and Tenant’s proportionate share shall be equitably adjusted )on the basis of the number of square feet before and after such event) on the date when title vests in such governmental or quasi-governmental authority and the rent Lease shall be reduced otherwise continue in proportion to the part of the Premises so taken or conveyedfull force and effect. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without In any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. Howevercase, Tenant shall have no claim against Landlord for any portion of the right to recover from the governmental authority, but not from Landlord, such compensation as amount that may be awarded as damages as a result of any governmental or quasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all rights of Tenant to damages therefore are hereby assigned by Tenant on account to Landlord. The foregoing shall not, however, deprive Tenant of any separate award for moving expenses, dislocation damages or for any other award which would not reduce the interruption of Tenant's business, moving and relocation expenses and depreciation award payable to and removal of Tenant's trade fixtures and personal propertyLandlord.
Appears in 1 contract
Eminent Domain. If the whole or any part a material portion of the Premises or Project (including parking areas) shall be taken for public or quasipublic use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or condemned by a governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking), or if the owner elects to convey title to the condemnor by a deed in lieu of condemnation, or if all or any portion of the Property are so taken, condemned or conveyed but and as a result thereof, in Landlord’s reasonable judgment, the remaining part is tenantable and adequate Premises cannot be used for Tenant's use’s Permitted Use as set forth herein, then this Lease shall be terminated as to the part taken or conveyed cease and terminate as of the date Tenant surrenders possession; Landlord shall make when title vests in such repairs, alterations governmental or quasi-governmental authority and improvements as may be necessary to render the part not taken or conveyed tenantable; Base Rent and the rent Additional Rent shall be reduced abated on the date when such title vests in proportion to the part such governmental or quasi-governmental authority. If less than a material portion of the Premises so shall be taken or conveyed. Tenant shall not have the right to assert condemned by a claim against the governmental or quasi-governmental authority exercising its power for any public or quasi-public use or purpose (including sale under threat of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance a taking), Base Rent and Additional Rent shall be equitably abated on the property of Landlord without date when such title vests in such governmental or quasi-governmental authority and this Lease shall otherwise continue in full force and effect. In any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. Howevercase, Tenant shall have no claim against Landlord for any portion of the right to recover from the governmental authority, but not from Landlord, such compensation as amount that may be awarded as damages as a result of any governmental or quasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all rights of Tenant to damages therefor are hereby assigned by Tenant on account to Landlord. The foregoing shall not, however, deprive Tenant of any separate award for moving expenses, dislocation damages or for any other award which would not reduce the award payable to Landlord. As used herein, “material portion of the interruption of Tenant's businessPremises” shall mean such amount that, moving and relocation expenses and depreciation in Landlord’s reasonable judgment, would render the Premises untenantable for the Permitted Use by Tenant as being conducted prior to and removal of Tenant's trade fixtures and personal propertysuch taking or condemnation.
Appears in 1 contract
Eminent Domain. If the whole Premises, any substantial part thereof, the land on which the Building stands, or any part of the Premises or Project (including parking areas) estate therein shall be taken for public or quasipublic use by a governmental any competent authority under the power of eminent domain domain, or shall be is conveyed to a governmental authority or leased in lieu of such taking, or is acquired for any public or quasi-public use or purpose, the Term of this Lease shall terminate upon the date when the possession of said Premises or the part thereof so taken, is taken, conveyed, or leased, without apportionment of the award, and if such taking Tenant shall have no claim against Landlord for the value of any unexpired Term. If any condemnation proceedings shall be instituted in which it is sought to take or conveyance shall cause the remaining damage any part of the Premises to be untenantable and inadequate for use by Tenant for Building or the purpose for which they were leasedland under it or contiguous thereto, then Tenant may, at its option, terminate this Lease as or if the grade of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises any street or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as alley adjacent to the part taken Building is changed by any competent authority, and such change of grade makes it necessary or conveyed as of desirable to remodel the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary Building to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion conform to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of changed grade, Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded cancel this Lease after having given written notice of cancellation to Tenant on account not less than ninety (90) days prior to the date of condemnation designated in the notice. In either of said events, rent at the then-current rate shall be apportioned as of the interruption date of Tenant's the termination. No money or other consideration shall be payable by Landlord to Tenant for the right of cancellation, and the Tenant shall have no right to share in the condemnation award or in any judgment for damages caused by the taking or the change of grade. Nothing in this Paragraph shall preclude an award being made to Tenant by the condemning authority for loss of business, moving or depreciation to, and relocation expenses and depreciation to and cost of removal of Tenant's trade fixtures and personal propertyof, equipment or fixtures.
Appears in 1 contract
Eminent Domain. If 21.1. In the event (a) the whole or any part of the Premises or Project (including parking areasb) such part thereof as shall substantially interfere with Tenant's use and occupancy of the Premises for the Permitted Use shall be taken for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or shall be conveyed sold to a governmental authority in lieu of prevent such taking, and if such taking Tenant or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, Landlord may terminate this Lease effective as of the date Tenant possession is required to surrender possession be surrendered to such authority, except with regard to (y) items occurring prior to the taking and (z) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof.
21.2. In the event of a partial taking of the Premises as a result for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sold to prevent such taking. If a part , then, without regard to whether any portion of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's useoccupied by Tenant was so taken, then Landlord may elect to terminate this Lease shall be terminated (except with regard to (a) items occurring prior to the taking and (b) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as of such taking if such taking is, in Landlord's sole opinion, of a material nature such as to the part taken or conveyed as make it uneconomical to continue use of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render unappropriated portion for the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyedPermitted Use.
21.3. Tenant shall not have be entitled to any award that is specifically awarded as compensation for (a) the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value taking of Tenant's leasehold interestpersonal property that was installed at Tenant's expense and (b) the costs of Tenant moving to a new location. All compensation awarded Except as set forth in the previous sentence, any award for such taking or conveyance shall be the property of Landlord without Landlord.
21.4. If, upon any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account taking of the interruption nature described in this Section, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is infeasible, as determined by Landlord in its sole and absolute discretion, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises no longer available to Tenant's business.
21.5. This Section 21 sets forth the terms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, moving the parties hereby waive the provisions of any Applicable Laws (and relocation expenses and depreciation any successor statutes) permitting the parties to and removal terminate this Lease as a result of Tenant's trade fixtures and personal propertyany damage or destruction.
Appears in 1 contract
Sources: Lease Agreement (Innovative Industrial Properties Inc)
Eminent Domain. If the whole or entire Premises are at any part time after execution of the Premises or Project (including parking areas) shall be this Lease taken for by public or quasipublic quasi-public use by a governmental authority or condemned under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's usedomain, then this Lease shall be terminated as to the part taken or conveyed as of terminate and expire effective the date Tenant surrenders possession; Landlord shall make of such repairs, alterations taking and improvements as may be necessary to render the part not taken or conveyed tenantable; any rent paid in advance and the rent any unearned charges shall be reduced in proportion refunded to the part of the Premises so taken or conveyedTenant by Lessor on such date. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover terminate this Lease and to receive from the Lessor an appropriate refund of rent paid in advance and unearned charges if, as a result of eminent domain proceeding or other governmental authorityor quasi-public action, but not from Landlord, such compensation as may be awarded to Tenant on account any portion of the interruption Premises or a material portion of the parking or access area serving the Premises is taken. Should Tenant elect to remain in the Premises after any partial taking, then rent and other charges shall be reduced for the remainder of the term thereafter in proportion to the floor area of the Premises taken, and/or reduced by a mutually agreeable equitable amount for any non-building area taken and Lessor shall promptly repair and restore the Premises as nearly as possible to their prior condition. Tenant shall not be entitled to damages for the taking of its leasehold estate or the diminution of the value thereof, provided, if Tenant has made any leasehold improvements to the Premises or material alterations, structural changes or repairs thereto at its own expenses, regardless of when made, Tenant shall be entitled to claim an award for the unamortized balance of Tenant's cost thereof provided the condemning authority makes a separate award therefor. In addition, Tenant shall be entitled to claim an award for loss of business, damage to merchandise and fixtures, removal and reinstallation costs and moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertyexpenses.
Appears in 1 contract
Eminent Domain. If the whole or Either party may terminate this Lease if any material part of the Premises is taken or Project (including parking areas) shall be taken condemned for any public or quasipublic quasi-public use under Law, by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority private purchase in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as thereof (a result of such taking“Taking”). If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not also have the right to assert terminate this Lease if there is a claim against Taking of any portion of the governmental authority exercising its power Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of eminent domain based upon the value Building or Project. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant's leasehold interest’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for such taking or conveyance a Taking shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the governmental authorityfiling of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, but not from Landlord, such compensation as may be awarded to Tenant on account with reasonable diligence, will restore the remaining portion of the interruption Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of Tenant's business, moving this Lease shall govern any Taking and relocation expenses and depreciation to and removal shall accordingly supersede any contrary statute or rule of Tenant's trade fixtures and personal propertylaw.
Appears in 1 contract
Sources: Lease Agreement (Netlist Inc)
Eminent Domain. (a) If the whole all or any part of the Premises or Project (including parking areas) shall be either taken or condemned for any public or quasipublic quasi-public use or purpose, or transferred by agreement in connection with any public or quasi-public use or purpose with or without any condemnation action or proceeding being instituted (either such event herein called a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking"TAKING"), and if such taking or conveyance Taking is permanent the Term shall cause automatically terminate with respect to the remaining part of the Premises so Taken as of the date when the possession of such part is required. If all or any portion of the Premises is subject to be untenantable a temporary Taking, this Lease shall remain in full force and inadequate for use by effect and Tenant for shall continue to perform all terms, conditions and covenants of this Lease. If a portion of the purpose for which they were leasedPremises or Building is taken so as to require, then Tenant mayin Landlord's reasonable judgment, a substantial alteration or reconstruction of the remaining portions, Landlord, at its optionsole election, may terminate this Lease as of the date Tenant is required to surrender when possession of the Premises part so Taken is required. Without obligation to Tenant, Landlord may agree to transfer to any condemnor all or any portion of the Building sought by such condemnor, free from this Lease and the rights of Tenant hereunder, without first requiring that any action or proceeding be instituted or, if instituted, pursued to a judgment.
(b) Landlord shall be entitled to the entire award made to it for any Taking, provided, however, that: (a) Landlord shall have no interest in any award made to Tenant specifically for its relocation expenses, the Taking of personal property or fixtures belonging to Tenant, or the interruption of or a damage to Tenants business, if any such award is made separately to Tenant and not as a result of such taking. If a part of the Premises an award or Project damages recoverable by Landlord, and (b) Tenant shall be taken or conveyed but entitled to receive the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as entire award made in connection with any temporary Taking allocable to the part taken or conveyed as period prior to the expiration of the date Tenant surrenders possession; Term
(c) Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns waive the provisions of California Code of Civil Procedure Section 1265.130 to Landlord all its right, title and interest in and to any the extent that such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertyprovisions are inconsistent with this Lease.
Appears in 1 contract
Eminent Domain. If the whole Building, or a substantial part thereof or a substantial part of the PREMISES, shall be lawfully taken or condemned or conveyed in lieu thereof, (or conveyed under threat of such taking or condemnation), for any public or quasi-public use or purpose, the term of this Lease shall end upon and not before the date of the taking of possession by the condemning authority and without apportionment of the award. TENANT hereby assigns to LANDLORD TENANT'S interest, if any, in such award and specifically agrees that any such award shall be the entire property of LANDLORD in which TENANT shall not be entitled to share. TENANT further waives any right to challenge the right of condemning authority to proceed with such taking. Current rent shall be apportioned as of the date of such termination. If any part of the Premises Building other than the PREMISES or Project (including parking areas) not constituting a substantial part of the PREMISES, shall be so taken for public or quasipublic use by a governmental authority condemned (or conveyed under the power threat of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause condemnation), or if the remaining part grade of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as any street adjacent to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations Building is changed by any competent authority and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be change of grade makes it necessary or desirable to substantially remodel or restore the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its rightBuilding, title and interest in and to any such award. However, Tenant LANDLORD shall have the right to recover from cancel this Lease upon not less than ninety (90) days notice prior to the governmental authoritydate of cancellation designated in the notice. No money or other consideration shall be payable by LANDLORD to TENANT for the right of cancellation, but not from Landlord, such compensation as may be awarded and TENANT shall have no right to Tenant on account share in any condemnation award or in any judgment for damages or in any proceeds of any sale made under any threat of condemnation or taking. TENANT shall have the interruption of Tenant's business, moving and right to separately pursue its own award for relocation expenses and depreciation to and removal loss of Tenant's trade fixtures and personal propertyin the event of such condemnation proceedings.
Appears in 1 contract
Sources: Sublease (Clark/Bardes Holdings Inc)
Eminent Domain. If the whole whole, or any part substantial (as reasonably determined by Landlord) portion, of the Property is taken or condemned for any public use under any Law or by right of eminent domain, or by private purchase in lieu thereof, and such taking would prevent or materially interfere with the Permitted Use of the Premises, this Lease shall terminate effective when the physical taking of said Premises occurs. Additionally, if any portion of the Premises or Project (including parking areas) shall be is taken or condemned for any public use under any Law or quasipublic use by a governmental authority under the power right of eminent domain domain, or shall be conveyed to a governmental authority by private purchase in lieu of such takingthereof, and if such taking or conveyance shall cause would materially interfere with the remaining part Permitted Use of the Premises to be untenantable and inadequate for use by Tenant Premises, in Tenant’s reasonable determination, or reduce the number of parking spaces below the applicable number of spaces required for the purpose for which they were leasedProperty by applicable Law, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from terminate this Lease by giving written notice to Landlord. If Tenant does not elect to terminate this Lease or if less than a substantial portion of the governmental authorityProperty is so taken or condemned, or if the taking or condemnation is temporary (regardless of the portion of the Property affected), this Lease shall not terminate, but not from Landlordthe Rent payable hereunder shall be proportionally abated to the extent of any actual loss of use of the Premises by Tenant and Landlord shall restore the Premises and Property as nearly as possible to the condition existing immediately prior to such taking. Landlord shall be entitled to any and all payment, such compensation as income, rent or award, or any interest therein whatsoever, which may be paid or made in connection with such a taking or conveyance, and Tenant shall have no claim against Landlord for the value of any unexpired portion of this Lease. Notwithstanding the foregoing, any compensation specifically and independently awarded to Tenant on account for loss of business or goodwill, relocation or moving expenses, or for its personal property, shall be the interruption property of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal property.
Appears in 1 contract
Eminent Domain. If 13.01 In the event that the whole or a substantial part of the Premises shall be condemned or taken in any manner for any public or quasi-public use (or sold under threat of such taking), and as a result thereof, the remainder of the Premises cannot be used for the same purpose as prior to such taking, this Lease shall terminate as of the date possession is taken; provided, however, if Landlord elects to make comparable space in the Building available to Tenant under the same Rent and terms as herein provided, Tenant shall accept such space and this Lease shall then apply to such space.
13.02 If less than a substantial part of the Premises shall be so condemned or taken (or sold under threat thereof) and after such taking the Premises can be used for the same purposes as prior thereto, this Lease shall cease only as to the part so taken as of the date possession shall be taken by such authority, and Tenant shall pay full Rent up to that date (with appropriate refund by Landlord of such Rent attributable to the part so taken as may have been paid in advance for any period subsequent to the date possession is taken) and thereafter Monthly Base Rent and Adjustments shall be equitably adjusted to reflect the reduction in the Premises by reason of such taking. Landlord shall, at its expense, make all necessary repairs or alterations to the Building so as to constitute the remaining Premises a complete architectural unit, provided that Landlord shall not be obligated to undertake any such repairs or alterations if the cost thereof exceeds the award resulting from such taking.
13.03 If part of the Building shall be so condemned or taken (or sold under threat thereof), or if any adjacent property or street shall be condemned or improved by a public or quasi-public authority in such a manner as to alter the use of any part of the Premises or Project (including parking areas) shall the Building and, in the opinion of Landlord, the Building or any part thereof should be taken for public altered, demolished or quasipublic use by restored in such a governmental authority under way as to materially alter the power of eminent domain or shall be conveyed to a governmental authority in lieu of such takingPremises, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, Landlord may terminate this Lease as of the date by notifying Tenant is required to surrender possession of the Premises as a result of such taking. If a part termination within sixty (60) days following the taking of the Premises possession by such public or Project shall be taken or conveyed but the remaining part is tenantable quasi-public authority, and adequate for Tenant's use, then this Lease shall expire on the date specified in the notice of termination, which shall be terminated not less than sixty (60) days after the giving of such notice, as fully and completely as if such date were the date hereinbefore set forth as the expiration of the Term, and the Monthly Base Rent and Adjustments hereunder shall be apportioned as of such date.
13.04 Landlord shall be entitled to receive the entire award, including the damages for the property taken and damages to the part taken or conveyed as of remainder, with respect to any condemnation proceedings affecting the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyedBuilding. Tenant shall agrees not have the right to assert a make any claim against Landlord or the governmental condemning authority exercising its power for any portion of eminent domain based upon such award or compensation, whether attributable to the value of Tenant's any unexpired portion of the Term, the loss of profits, goodwill, leasehold interest. All compensation awarded for such taking improvements or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. Howeverotherwise, Tenant shall have the right irrevocably assigning any and all such claims to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal property.
Appears in 1 contract
Sources: Office Space Lease (2 Infinity Inc)
Eminent Domain. (a) If the whole all or any part of the Premises or Project (including parking areas) shall be either taken or condemned for any public or quasipublic quasi-public use or purpose, or transferred by agreement in connection with any public or quasi-public use or purpose with or without any condemnation action or proceeding being instituted (either such event herein called a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking"Taking"), and if such taking or conveyance Taking is permanent, the Term shall cause automatically terminate with respect to the remaining part of the Premises so Taken as of the date when the possession of such part is required. If all or any portion of the Premises is subject to be untenantable a temporary Taking, this Lease shall remain in full force and inadequate for use by effect and Tenant for shall continue to perform all terms, conditions and covenants of this Lease. If a portion of the purpose for which they were leasedPremises or Building or Complex is taken so as to require, then Tenant mayin Landlord's reasonable judgment, a substantial alteration or reconstruction of the remaining portions, Landlord, at its optionsole election, may terminate this Lease as of the date Tenant is required to surrender when possession of the Premises as a result of such takingpart so Taken is required. If a part Without obligation to Tenant, Landlord may agree to transfer to any condemnor all or any portion of the Premises Building sought by such condemnor, free from this Lease and the rights of Tenant hereunder, without first requiring that any action or Project proceeding be instituted or, if instituted, pursued to a judgment.
(b) Landlord shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as entitled to the part taken or conveyed as of the date Tenant surrenders possession; entire award made to it for any Taking, provided, however, that: (a) Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and no interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded award made to Tenant on account specifically for its relocation expenses, the Taking of personal property or fixtures belonging to Tenant, or the interruption of or a damage to Tenant's business, moving if any such award is made separately to Tenant and relocation expenses not as a part of an award or damages recoverable by Landlord, and depreciation (b) Tenant shall be entitled to receive the entire award made in connection with any temporary Taking allocable to the period prior to the expiration of the Term.
(c) Landlord and removal Tenant hereby waive the provisions of Tenant's trade fixtures and personal propertyCalifornia Code of Civil Procedure Section 1265.130 to the extent that such provisions are inconsistent with this Lease.
Appears in 1 contract
Eminent Domain. If the whole or any part a material portion of the Premises or Project (including parking areas) shall be taken for public or quasipublic use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or condemned by a governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking), or if the owner elects to convey title to the condemnor by a deed in lieu of condemnation, or if all or any portion of the Property are so taken, condemned or conveyed but and as a result thereof, in Landlord’s reasonable judgment, the remaining part is tenantable and adequate Premises cannot be used for Tenant's use’s Permitted Use as set forth herein, then this Lease shall be terminated as to the part taken or conveyed cease and terminate as of the date Tenant surrenders possession; Landlord shall make when title vests in such repairs, alterations governmental or quasi-governmental authority and improvements as may be necessary to render the part not taken or conveyed tenantable; Base Rent and the rent Additional Rent shall be reduced abated on the date when such title vests in proportion to the part such governmental or quasi-governmental authority. If less than a material portion of the Premises so shall be taken or conveyed. Tenant shall not have the right to assert condemned by a claim against the governmental or quasi-governmental authority exercising its power for any public or quasi-public use or purpose (including sale under threat of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance a taking), Base Rent and Additional Rent shall be equitably abated on the property of Landlord without date when such title vests in such governmental or quasi-governmental authority and this Lease shall otherwise continue in full force and effect. In any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. Howevercase, Tenant shall have no claim against Landlord for any portion of the right to recover from the governmental authority, but not from Landlord, such compensation as amount that may be awarded as damages as a result of any governmental or quasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all rights of Tenant to damages therefor are hereby assigned by Tenant on account to Landlord. The foregoing shall not, however, deprive Tenant of any separate award for moving expenses, dislocation damages or for any other award which would not reduce the award payable to Landlord. As used herein, “material portion of the interruption of Tenant's businessPremises” shall mean such amount that, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertyin Landlord’s reasonable judgment, would render the Premises untenantable for the Permitted Use.
Appears in 1 contract
Eminent Domain. If the whole or any part more than twenty-five percent (25%) of the Demised Premises (or Project (including parking areasuse or occupancy of the Demised Premises) shall be taken or condemned by any governmental or quasi-governmental authority for any public or quasipublic quasi-public use or purpose (including sale under threat of such a taking), or if the owner elects to convey title to the condemnor by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority deed in lieu of such takingcondemnation, and or if such taking all or conveyance shall cause the remaining part any portion of the Premises to be untenantable Land or Building are so taken, condemned or conveyed and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of thereof, in Landlord's or Tenant's reasonable judgment, the Demised Premises or Project shall cannot be taken or conveyed but the remaining part is tenantable and adequate used for Tenant's usepermitted use as set forth in this Lease, then this Lease shall be terminated as to the part taken or conveyed cease and terminate as of the date Tenant surrenders possession; Landlord when title vests in such governmental or quasi-governmental authority and the Fixed Rent and Additional Rent shall make be abated on the date when such repairs, alterations and improvements as may be necessary to render title vests in such governmental or quasi-governmental authority. If less than twenty-five percent (25%) of the part not Demised Premises is taken or conveyed tenantable; condemned by any governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking), the Fixed Rent and Additional Rent shall be equitably adjusted (on the basis of the number of square feet before and after such event, and to the extent parking or other material Building features are taken, such taking shall also be adjusted for) on the date when title vests in such governmental or quasi-governmental authority and the rent Lease shall be reduced otherwise continue in proportion to the part of the Premises so taken or conveyedfull force and effect. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without In any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. Howevercase, Tenant shall have no claim against Landlord for any portion of the right to recover from the governmental authority, but not from Landlord, such compensation as amount that may be awarded as damages as a result of any governmental or quasi-governmental taking or condemnation (or sale under threat of such taking or condemnation); and all rights of Tenant to damages therefor are hereby assigned by Tenant on account to Landlord. The foregoing shall not, however, deprive Tenant of any separate award for moving expenses, dislocation damages or for any other award which would not reduce the interruption of Tenant's business, moving and relocation expenses and depreciation award payable to and removal of Tenant's trade fixtures and personal propertyLandlord.
Appears in 1 contract
Sources: Lease Agreement (Electronics Boutique Holdings Corp)
Eminent Domain. (a) If the whole or any part of the Premises or Project Premises, the Building, and/or the Land (including parking areasnot resulting in a total taking of the Premises, thereby causing a termination of this Lease) shall be is taken for public or quasipublic use by a governmental authority under the power of eminent domain domain, or shall be conveyed similar authority or power, or sold under imminent threat thereof, to a any public or quasi-governmental authority in lieu of such takingor entity, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated terminate as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyedsold, effective as of the date taking, or the date that delivery of possession is required, by such public or quasi-governmental authority or entity. The Rent for the remainder of the term under this Lease shall be reduced in the proportion that the Tenant’s total square footage of the Premises is reduced by the taking. Further, the Tenant shall be entitled to recover and keep for itself from the public or quasi-governmental authority or entity any amount(s) necessary to compensate the Tenant for any and all damages, loses, and for any other reason attributable as a result of such taking.
(b) If a total taking of the Premises, the Building, or the Land occurs, or if a partial taking or the sale of the Building, or the Land occurs, and it: (i) results in an inability of the Tenant to use the Premises for the Tenant’s intended purpose, as determined by the Tenant; or (ii) renders the Building unviable or useless to the Tenant, this Lease shall terminate, with such termination being made effective thirty (30) days after the Tenant receives notice of such taking, or when the taking occurs, whichever is sooner.
(c) All condemnation awards and similar payments shall be paid and belong to the Landlord, except any amounts otherwise described above in this Lease, in addition to any amounts awarded or paid specifically for Tenant’s trade fixtures, loss of business, relocation costs, and other benefits that the Tenant ADSLLP-00086836.8 is otherwise entitled to receive under the law (provided ▇▇▇▇▇▇’s award does not have reduce Landlord’s award or attribute any value to the remaining leasehold interest). Nothing contained herein shall prevent or diminish the Tenant’s right to assert a claim against deal on its own behalf with the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental condemning authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal property.
Appears in 1 contract
Sources: Lease Agreement
Eminent Domain. If If, prior to the whole Closing Date, any Seller receives notice that a material portion of one of its Properties (or any part access or other material rights in connection therewith) as would, in Purchaser’s reasonable judgment, materially adversely affect access to and from such Property, the operation of the Premises such Property or Project (including parking areas) shall be taken for public uses or quasipublic use value of such Property is, or has been threatened in writing by a governmental authority under of competent jurisdiction, to be taken by condemnation or eminent domain, such Seller shall promptly notify Purchaser, and at the power election of eminent domain Purchaser this Agreement shall upon the giving of Notice of such event or of the condemning authorities’ intention so to take such Property, terminate with respect only to the impacted Property, in which event as to such impacted Property the parties shall have no further rights or obligations hereunder, except those matters specifically surviving termination or Closing, but the Closing shall proceed with respect to the remaining Properties (with the Purchase Price reduced by the Allocated Purchase Price of the impacted Property). If Purchaser does not elect to terminate this Agreement prior to the Closing Date, on the Closing Date all of the proceeds of any award or payment made or to be made by reason of such taking shall be conveyed assigned by such Seller to a governmental authority in lieu of such takingPurchaser, and if any money theretofore received by such Seller in connection with such taking or conveyance shall cause be paid over to Purchaser, whereupon Purchaser shall pay the remaining part of the Premises to be untenantable and inadequate for use Purchase Price without abatement by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result reason of such taking. If Such Seller shall not settle, agree to, or accept any award or payment in connection with a part taking of less than all of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's useProperty without obtaining Purchaser’s prior written consent in each case, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant which consent shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking be unreasonably withheld or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertydelayed.
Appears in 1 contract
Sources: Purchase and Sale Agreement (First Potomac Realty Trust)
Eminent Domain. If 23.1. In the event the whole or any part of the Premises Demised Premises, or Project (including parking areas) such part thereof as shall substantially interfere with the Tenant's use and occupancy thereof, shall be taken for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or shall be conveyed sold to a governmental authority in lieu of prevent such taking, and if such taking Tenant or conveyance shall cause the remaining part Landlord may terminate this Lease effective as of the Premises date possession is required to be untenantable surrendered to said authority.
23.2. In the event of a partial taking of the Building or of drives, walkways, and inadequate parking areas serving the Building for use any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sold to prevent such taking, then without regard as to whether any portion of the Demised Premises occupied by Tenant for the purpose for which they were leasedwas so taken, then Tenant may, at its option, Landlord may elect to terminate this Lease as of such taking if such taking is, in the date Tenant is required sole opinion of Landlord, of a material nature such as to surrender possession make it uneconomical to continue use of the Premises as a result unappropriated portion for purposes of such taking. If a part of the Premises office rentals or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyedlaboratory space.
23.3. Tenant shall not have be entitled to any award which is specifically awarded as compensation for the right taking of Tenant's personal property, which was installed at Tenant's expense and for costs of Tenant moving to assert a claim against new location. Except as before set forth, any award for such taking shall belong to Landlord.
23.4. If, upon any taking of the governmental authority exercising nature described in this Article 23, this Lease continues in effect, the Landlord shall promptly proceed to restore the Demised Premises and the Building to substantially their same condition prior to such partial taking. To the extent such restoration is feasible, as determined by Landlord in its power of eminent domain reasonable discretion, the Rent shall be abated proportionately based upon the extent to which Tenant's use of the Demised Premises has decreased on the basis of the percentage of the rental value of Tenant's leasehold interest. All compensation awarded for the Demised Premises after such taking or conveyance shall be and the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account rental value of the interruption of Tenant's business, moving and relocation expenses and depreciation Demised Premises prior to and removal of Tenant's trade fixtures and personal propertysuch taking.
Appears in 1 contract
Eminent Domain. If In the case of the whole or any part of the Premises Premises, or Project (including parking areas) such part thereof as shall substantially interfere with Tenant's use and occupancy thereof, shall be taken for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or sold to prevent such taking, either party shall have the right to terminate this lease effective as of the date possession is required to be conveyed surrendered to a governmental said authority. Notice of such termination must be given thirty (30) days prior to the date possession is required to be surrendered. Tenant shall not assert any claim against Owner or the taking authority in lieu for any compensation because of such taking, and if such taking Owner shall be entitled to receive the entire amount of any award without deduction for any estate or conveyance interest of Tenant. In the event the amount of property or the type of estate taken shall cause not substantially interfere with the remaining part conduct of Tenant's business, Owner shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, and Landlord at his option may terminate this Lease. If Landlord does not so elect, Landlord shall promptly proceed to restore the Premises to substantially their same condition as prior to such partial taking, and a proportionate allowance shall be untenantable and inadequate for use by made to Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as rent corresponding to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairstime during which, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. Howeverwhich, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant so deprived on account of such taking and restoration. Nothing contained in this paragraph shall be deemed to give Landlord any interest in any award made to Tenant for the interruption taking of personal property and fixtures belonging to Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal property.
Appears in 1 contract
Eminent Domain. If In the event the whole or any part of the Premises Premises, Building, Property or Project (including parking areas) Common Areas, or such part thereof as shall substantially interfere with Tenant's use and occupation thereof, shall be taken for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or shall be conveyed to a governmental authority is sold in lieu of or to prevent such taking, either party shall have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, and if such taking Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or conveyance interest of Tenant granted in this Lease. Nothing contained in this Section 12.01 shall cause the remaining part of the Premises be deemed to be untenantable and inadequate for use by give Landlord any interest in any separate award made to Tenant for the purpose for which they were leased, then taking of personal property and fixtures belonging to Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to moving expenses. In the part event the amount of property or the type of estate taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have substantially interfere with the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption conduct of Tenant's business, moving and relocation expenses and depreciation Landlord shall be entitled to and removal the entire amount of the award without deduction for any estate or interest of Tenant's trade fixtures , Landlord shall promptly proceed to restore the affected areas to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation, and personal propertythe Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been unable to use in its business on account of said taking and restoration.
Appears in 1 contract
Sources: Lease Agreement (Microvision Inc)
Eminent Domain. If the whole or any part of the Demised Premises or Project (including parking areas) a substantial part thereof shall be taken for public or quasipublic use by a governmental authority under the power of in eminent domain or conveyed under threat of condemnation proceedings, then ▇▇▇▇▇▇ (but not Lessee) may terminate this Lease by giving ▇▇▇▇▇▇ written notice thereof within thirty (30) days after the date that the subject taking becomes final, and this Lease shall be conveyed deemed null and void when such notice is given, with the parties hereto being released from all further obligations and duties hereunder and with the rentals being apportioned to a governmental authority in lieu of such taking, and if such the date that said taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such takingbecomes final. If no such notice of termination is given for such a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's usesubstantial taking, then this Lease shall remain in full force and effect in accordance with its stated terms, except that the rentals due hereunder shall be terminated as abated in the proportion that the portion of the Demised Premises, if any, which is rendered effectively unusable by the taking, bears to the part taken or conveyed as totality of the date Tenant surrenders possession; Landlord Demised Premises. If the taking is insubstantial, then this Lease shall make such repairsnot terminate and shall remain in full force and effect in accordance with its stated terms with no abatement of rentals. Lessee hereby agrees that reducing or increasing the width or otherwise changing any sidewalk, alterations and improvements as may street or alley adjacent to or around the Demised Premises, changing parking regulations, or prohibiting parking, or changing bus stops, or anything else which in any manner affects pedestrian or vehicular traffic, shall be necessary deemed not to render the part not taken or conveyed tenantable; constitute a substantial taking, and the rent substantiality of a taking shall in any event be reduced determined by Lessor in proportion its good faith discretion. In no event shall Lessee be entitled to the part of the Premises so taken any award or conveyed. Tenant shall not have the right to assert consideration paid in connection with such a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom except for any present or future estate of Tenant moving expenses expressly and Tenant hereby assigns specifically granted to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertyLessee.
Appears in 1 contract
Sources: Lease Agreement
Eminent Domain. If the whole Building, the land underlying the Building or a substantial part of the Premises shall be lawfully taken or condemned for any public or quasi-public use or purpose, the Term shall end upon, and not before, the date of the taking of possession by the condemning authority, and without apportionment of the award. Tenant shall have the right to pursue an award for the value of its loss of its leasehold interest, alterations, and any moving costs, if applicable. The Total Rent shall be apportioned as of the date of such termination. If any part of the Premises Building, other than the Premises, or Project (including parking areas) shall be taken for public or quasipublic use by less than a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining substantial part of the Premises shall be taken or condemned, which taking materially interferes with Landlord’s operation of the Building, or if the grade of any street or alley adjacent to be untenantable the Building is changed by any competent authority and inadequate for use by Tenant for such taking or change of grade makes it necessary or desirable to substantially remodel or restore the purpose for which they were leasedBuilding, then Tenant may, at its option, terminate Landlord shall have the right to cancel this Lease as of upon not less than ninety (90) days’ notice prior to the date Tenant is required to surrender possession of cancellation designated in the Premises as a result of such takingnotice, but only if Landlord simultaneously terminates all other similarly affected tenancies and/or licenses in the Building. If a substantial part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for condemned, which taking materially interferes with Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part ’s use of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising for its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. Howeverbusiness purposes, Tenant shall have the right to recover cancel this Lease upon not less than ninety (90) days’ notice prior to the date of cancellation designated in the notice. No money or other consideration shall be payable by Landlord to Tenant for the right of cancellation, and, except as stated above, Tenant shall have no right to share in the condemnation award (or in any judgment for damages caused by the change of grade). In the event Landlord or Tenant does not cancel the Lease as aforesaid, Landlord shall rebuild the Building or the Premises, as the case may be, and in the event a portion of the Premises is taken or condemned, Total Rent shall ▇▇▇▇▇ on a proportionate basis from the governmental authority, but not from Landlord, date of such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertytaking or condemnation.
Appears in 1 contract
Eminent Domain. A. If a portion of the whole Building or the demised premises shall be lawfully taken or condemned for any public or quasi-public use of purpose or conveyed under threat of such condemnation, and as a result thereof the premises cannot be used for the same purpose and with the same utility as before such taking or conveyance, the terms of this Lease shall end upon, and not before, the date of the taking of possession by the condemning authority and without apportionment of the award. Tenant hereby assigns to the Landlord, Tenant's interest in such award, if any. Nothing contained in this paragraph 14 shall prohibit Tenant from maintaining a separate cause of action against the condemning authority for loss of personal property or relocation expenses, provided that such action does not adversely affect Landlord's recovery against such condemning authority. Current rent shall be apportioned as of the date of such termination. If any part of the Premises or Project (including parking areas) Building shall be so taken for public or quasipublic use condemned, or if the grade of any street or alley adjacent to the Building is changed by a governmental any competent authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause change of grade makes it necessary or desirable to demolish, substantially remodel, or restore the remaining part of Building, the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from cancel this Lease upon not less than ninety (90) days prior notice to the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account date of cancellation designed in the notice.
B. If a portion of the interruption premises shall be lawfully taken or condemned or conveyed under threat of condemnation but thereafter the premises can be used by Tenant for the same purpose and with substantially the same utility, this Lease shall not be terminated at Tenant's businessoption and Landlord shall repair the premises, moving and relocation expenses and depreciation the Lease shall be amended to and removal of reduce the Tenant's trade fixtures Proportion and personal propertyBase Rent in the proportion of the amount taken. No money or other consideration shall be payable by the Landlord to the Tenant for any right of cancellation or temporary taking, and the Tenant shall have no right to share in any condemnation award or in any judgement for damages caused by a change of grade.
Appears in 1 contract
Sources: Industrial Space Lease (Griffith Micro Science International Inc)
Eminent Domain. If the whole or Either party may terminate this Lease if any material part of the Premises is taken or Project (including parking areas) shall be taken condemned for any public or quasipublic quasi-public use under Law, by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority private purchase in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as thereof (a result of such taking“Taking”). If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not also have the right to assert terminate this Lease if there is a claim against Taking of any portion of the governmental authority exercising its power Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of eminent domain based upon the value Building. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant's leasehold interest’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for such taking or conveyance a Taking shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses. If only a part of the governmental authorityPremises is subject to a Taking and this Lease is not terminated, but not from Landlord, such compensation as may be awarded to Tenant on account with reasonable diligence, will restore the remaining portion of the interruption Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of Tenant's business, moving this Lease shall govern any Taking and relocation expenses and depreciation to and removal shall accordingly supersede any contrary statute or rule of Tenant's trade fixtures and personal propertylaw.
Appears in 1 contract
Sources: Lease (Cambium Networks Corp)
Eminent Domain. If the whole or any part of the Premises or Project (including parking areas) shall be taken for public or quasipublic quasi-public use by a governmental authority acting under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises (if any) to be untenantable and inadequate for use by Tenant for the purpose purposes for which they were leasedLease, then Tenant mayTenant, at its option, may terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such takingPremises. If a part of the Premises or Project shall be so taken or conveyed but the remaining part is tenantable and adequate for Tenant's ’s use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interestconveyed (as measured by Landlord). All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant Tenant, and Tenant hereby assigns to Landlord all its rightrights, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's ’s business, moving and relocation expenses and depreciation to and removal of Tenant's ’s trade fixtures and personal property.
Appears in 1 contract
Eminent Domain. If 23.1 In the event the whole or any part of the Premises or Project (including parking areas) shall be taken for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or shall be conveyed sold to a governmental authority in lieu of prevent such taking, and Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority.
23.2 In the event of a partial taking of the Project for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sold to prevent such taking, then Landlord may elect to terminate this Lease if such taking or conveyance shall cause the remaining part is of a material nature such as to make it uneconomical to continue use of the Premises to be untenantable and inadequate for use by Tenant unappropriated portions for the purpose purposes for which they were leasedintended, then and Tenant may, at its option, may elect to terminate this Lease if such taking is of material detriment to, and substantially interferes with, Tenant's use and occupancy of the Premises. In no event shall this Lease be terminated when such a partial taking does not have a material adverse effect upon Landlord or Tenant or both. Termination by either party pursuant to this section shall be effective as of the date Tenant possession is required to surrender possession be surrendered to said authority.
23.3 If upon any taking of the Premises as a result of such taking. If a part nature described in this Article 23 this Lease continues in effect, then Landlord shall promptly proceed to restore the remaining portion of the Premises or Project Project, including all improvements and fixtures located in the Premises, to substantially their same condition prior to such partial taking; provided, however, Landlord's obligation hereunder shall be taken or conveyed but limited to the remaining part is tenantable and adequate for Tenant's use, then this Lease amount of the condemnation proceeds. Basic Annual Rent shall be terminated as to abated proportionately on the part taken or conveyed as basis of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part square feet of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account Rentable Area of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertyProject or Premises taken.
Appears in 1 contract
Eminent Domain. If a substantial portion of the whole building, or a substantial part of the demised premises, shall be lawfully taken or condemned for any public or quasi-public use or purpose, or conveyed under threat of such condemnation, the term of this Lease shall end upon, and not before, the date of the taking of possession by the condemning authority, and without apportionment of the award. Current rent shall be apportioned as of the date of such termination. If any part of the Premises or Project (including parking areas) building shall be so taken for public or quasipublic use condemned, or if the grade of any street or alley adjacent to the building is changed by a governmental any competent authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause change of grade makes it necessary or desirable to demolish, substantially remodel, or restore the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leasedbuilding, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from cancel this Lease upon not less than ninety (90) days notice prior to the governmental authoritydate of cancellation designated in the notice. No money or other consideration shall be payable by Landlord or Tenant for the right of cancellation, but and Tenant may not from share in the condemnation award (or in any judgment for damages caused by the change of grade). Tenant may proceed independently in such proceedings if it chooses. If an insubstantial portion of the premises shall be lawfully taken or condemned or conveyed under threat of condemnation so that the premises can be used by Tenant for the purposes set forth in this Lease, and this Lease is not terminated by Landlord, such compensation as may Landlord shall repair the premises, and the Lease shall be awarded amended to Tenant on account reduce Tenant's Proportion and Base Rent in the proportion of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertyamount taken.
Appears in 1 contract
Eminent Domain. If the whole or any part of the Premises or the Project or so much thereof as to render the balance unsuitable for the continued use and operation of the Premises by Tenant (including parking areasfor substantially the same purposes as immediately prior to the taking) shall be taken for public or quasipublic use by a governmental authority under the power of eminent domain domain, or shall be is sold, transferred or conveyed to a governmental authority in lieu of such takingthereof, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease shall automatically terminate as of the date Tenant possession is required to surrender possession of taken by the Premises as a result of such takingcondemning authority. If a part of the Premises No award for any partial or Project entire taking shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's useapportioned, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord any award which may be made in such taking or condemnation, together with any and all its rightrights of Tenant now or hereafter arising in or to the same or any part thereof; provided, title and however, that nothing contained herein shall be deemed to give Landlord any interest in and or to require Tenant to assign to Landlord any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded award made to Tenant on account for the taking of personal property and trade fixtures belonging to Tenant and removable by Tenant at the expiration of the Term hereof as provided hereunder or for the interruption of of, or damage to, Tenant's ’s business, or Tenant’s moving and relocation expenses costs. In the event of a partial taking described in this Article 18, or a sale, transfer or conveyance in lieu thereof, which does not result in a termination of this Lease, (i) the rent shall be apportioned according to the ratio that the part of the Premises remaining useable by Tenant bears to the total area of the Premises, and depreciation (ii) Landlord shall proceed with reasonable diligence to restore the remaining portion(s) of the Premises and removal Project substantially to their former condition to the extent feasible to constitute a complete and tenantable Premises. Tenant hereby waives any and all rights it might otherwise have pursuant to Section 1265.130 of Tenant's trade fixtures and personal propertythe California Code of Civil Procedure.
Appears in 1 contract
Eminent Domain. If the whole of the Lease Premises shall be taken or condemned in any eminent domain, condemnation, compulsory acquisition or like proceeding by any competent authority, this Lease Agreement shall terminate as of the date of such taking or condemnation. The LESSOR shall refund to the LESSEE the Security Deposit, less any amount that may be properly deducted therefrom in accordance with the terms of this Lease Agreement. If only part of the Leased Premises or the RCBC Plaza Tenancy Areas shall be taken or condemned in any eminent domain, condemnation, compulsory acquisition or like proceeding, by any competent authority for any public or quasi-public use or purpose, then this Lease Agreement shall continue to be effective, subject to the proportionate reduction of the Rent due. In either of the foregoing events, the LESSEE shall not have any right or claim to any part of the Premises compensation or Project (including parking areas) shall be taken for public award granted or quasipublic use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate granted to the LESSOR as consideration for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of However, provided that the Premises or Project compensation to be received by the LESSOR shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to thereby, nothing contained herein shall preclude the part of LESSEE from claiming, proving and receiving from the Premises so taken or conveyed. Tenant shall not have the right to assert condemning authority a claim against the governmental authority exercising its power of eminent domain based upon separate award for the value of Tenantany of the LESSEE's leasehold interest. All compensation awarded for such taking or conveyance shall be property taken by the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall condemning authority which the LESSEE could have the right to recover rightfully removed from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertyLeased Premises hereunder.
Appears in 1 contract
Sources: Lease Agreement (Access Worldwide Communications Inc)
Eminent Domain. If the whole or Either party may terminate this Lease if any material part of the Premises is taken or Project (including parking areas) shall be taken condemned for any public or quasipublic quasi-public use under Law, by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority conveyance in lieu of such taking, and if such taking or conveyance thereof (a “Taking”). Landlord shall cause also have the remaining part of the Premises right to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease if there is a Taking of any portion of the Building or Property that would have a material adverse effect on Landlord’s ability to profitably operate the remainder of the Building. The terminating party shall provide written notice of termination to the other party within forty-five (45) days after it first receives notice of the Taking. The termination shall be effective as of the effective date Tenant of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is required not terminated, Base Rent and Tenant’s Share shall be appropriately adjusted to surrender possession account for any reduction in the square footage of the Premises as Building or Premises. All compensation awarded for a result Taking shall be the property of Landlord. The right to receive compensation or proceeds is expressly waived by Tenant, provided, however, Tenant may file a separate claim for Tenant’s personal property and Tenant’s reasonable relocation expenses, provided the filing of such takingclaim does not diminish the amount of Landlord’s award. If only a part of the Premises or Project shall be taken or conveyed but is subject to a Taking and this Lease is not terminated, Landlord, with reasonable diligence, will restore the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part portion of the Premises so taken or conveyedas nearly as practicable to the condition immediately prior to the Taking. Tenant shall not hereby waives any and all rights it might otherwise have the right pursuant to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account Section 1265.130 of the interruption California Code of Tenant's businessCivil Procedure, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertyor any similar or successor Laws.
Appears in 1 contract
Sources: Office Lease Agreement (RPX Corp)
Eminent Domain. If 23.1 In the event the whole or any part of the Premises or Project (including parking areas) shall be taken for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or shall be conveyed sold to a governmental authority in lieu of prevent such taking, and if such taking Tenant or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, Landlord may terminate this Lease effective as of the date Tenant possession is required to surrender possession be surrendered to said authority.
23.2 In the event of a partial taking of the Premises as a result for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sold to prevent such taking. If a part , then Tenant may elect to terminate this Lease if such taking is of material detriment to, and substantially interferes with, Tenant’s use and occupancy of the Premises or Project Premises. In no event shall this Lease be terminated when such a partial taking does not have a material adverse effect upon Tenant. Termination by Tenant pursuant to this section shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed effective as of the date Tenant surrenders possession; possession is required to be surrendered to said authority.
23.3 If upon any taking of the nature described in this Article 23 this Lease continues in effect, then Landlord shall make promptly proceed to restore the remaining portion of the Premises, and all improvements and fixtures located thereon, to substantially their same condition prior to such repairspartial taking; provided, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent however, Landlord’s obligation hereunder shall be reduced in proportion limited to the part amount of the condemnation proceeds. Basic Annual Rent shall be abated proportionately on the basis of the rental value of the Premises, including improvements and fixtures, as restored after such taking compared to the rental value of the Premises so taken or conveyed. Tenant shall not have the right prior to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertytaking.
Appears in 1 contract
Sources: Lease (Icagen Inc)
Eminent Domain. If the whole Property or any part of the Premises Premises, or Project (including parking areas) such portion thereof shall be taken for public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation, or eminent domain domain, or shall be conveyed sold to a governmental authority in lieu of prevent such taking, and if such taking or conveyance either party shall cause have the remaining part of the Premises right to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease effective as of the date Tenant possession is required to surrender possession be surrendered to said authority.
14.3.1 Lessee shall not assert any claim against Lessor or the taking authority for any compensation because of such taking and Lessor shall be entitled to receive the entire amount of any award without deduction for any estate or interest of ▇▇▇▇▇▇. However, ▇▇▇▇▇▇ shall not be precluded from claiming from the condemning authority any compensation to which ▇▇▇▇▇▇ may otherwise lawfully be entitled in respect to personal property or fixtures belonging to ▇▇▇▇▇▇, or for relocating to new space, or for the unamortized portion of any Tenant Improvements installed in the Premises as a result to the extent they were paid for by Lessee or for the loss of such takinggoodwill.
14.3.2 In the event of taking of less than the entire Premises, Lessee may elect to terminate the Lease by giving thirty (30) days written advanced notice to Lessor. If a part of Lessee does not so elect, Lessor shall promptly proceed to restore the Premises or Project (including the Tenant Improvements and any Lessee’s alterations) to substantially their same condition prior to such partial taking and a proportionate allowance shall be taken or conveyed but made to Lessee for the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as rent corresponding to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairstime during which, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance which Lessee shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant so deprived on account of such taking and restoration. Notwithstanding the interruption foregoing, if the costs of Tenant's businessrestoration exceed the portion of the condemnation award allocated to restoration costs, moving and relocation expenses and depreciation Lessor may elect to and removal of Tenant's trade fixtures and personal propertyterminate this Lease unless Lessee elects to pay such excess.
Appears in 1 contract
Sources: Lease Agreement
Eminent Domain. If the whole or any part of the Premises or Project (including parking areas) shall be taken for public or quasipublic quasi-public use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such takingPremises. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's ’s use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant Tenant, and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's ’s business, moving and relocation expenses and depreciation to and removal of Tenant's ’s trade fixtures and personal property.
Appears in 1 contract
Sources: Lease Agreement (Vital Images Inc)
Eminent Domain. If In the event (a) the whole of all Affected Areas or any (b) such part thereof as shall substantially interfere with ▇▇▇▇▇▇’s use and occupancy of the Premises or Project (including parking areas) for the Permitted Use shall be taken for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or shall be conveyed sold to a governmental authority in lieu of prevent such taking, and if such taking Tenant or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, Landlord may terminate this Lease effective as of the date Tenant possession is required to surrender possession be surrendered to such authority, except with regard to (1) items occurring prior to the taking and (2) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof. In the event of a partial taking of (a) the Building or the Project or (b) drives, walkways or parking areas serving the Building or the Project for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sold to prevent such taking, then, without regard to whether any portion of the Premises occupied by Tenant was so taken, Landlord may elect to terminate this Lease (except with regard to (1) items occurring prior to the taking and (2) provisions of this Lease that, by their express terms, survive the expiration or earlier termination hereof) as a result of such taking if such taking is of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of renting office. Each party shall be entitled to pursue their own separate claims against the condemning authority as allowed by Applicable Law. However, Landlord shall assert no claims as to the value of the underlying real estate upon which the Building is located and Tenant shall assert no claims as to the value of the Building. If, upon any taking of the nature described in this Article, this Lease continues in effect, then Landlord shall promptly proceed to restore the Affected Areas to substantially their same condition prior to such partial taking. If a part To the extent such restoration is infeasible, the Rent shall be decreased proportionately to reflect the loss of any portion of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for no longer available to Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal property.
Appears in 1 contract
Sources: Lease
Eminent Domain. 23.1 If the whole or any part of the Premises Premises, or Project (including parking areas) such part thereof as shall materially and substantially interfere with Tenant's use and occupancy thereof, shall be taken for any public or quasipublic use quasi public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or shall be conveyed sold to a governmental authority in lieu of prevent such taking, and if such Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority.
23.2 Upon a partial taking or conveyance shall cause the remaining part of the Premises which does not materially and substantially interfere with Tenant's use of the Premises, Landlord may elect to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of such taking if such taking is, in the date sole opinion of Landlord, of a material nature such as to make it uneconomical to continue use of the unappropriated portion for purposes of leasing such space to Tenant.
23.3 Tenant shall be entitled to any award which is required specifically awarded as compensation for the taking of Tenant's personal property, which was installed at Tenant's expense and for costs of Tenant moving to surrender possession a new location. Except as set forth in the immediately preceding sentence, any award for such taking shall belong to Landlord.
23.4 If, upon any taking of the nature described in this Article 23, this Lease continues in effect, Landlord shall promptly proceed to restore the Premises to substantially the same condition prior to such partial taking. To the extent such restoration is feasible, as determined by Landlord in its sole discretion, the Rent shall be abated proportionately based upon the extent to which Tenant's use of the Premises as a result has decreased on the basis of such taking. If a part the percentage of the rental value of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make after such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; taking and the rent shall be reduced in proportion to the part rental value of the Premises so taken or conveyed. Tenant shall not have the right prior to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertytaking.
Appears in 1 contract
Eminent Domain. If the whole or any part of all the Premises are condemned or Project (including parking areas) shall be taken for public or quasipublic use by a governmental authority under the power of eminent domain exercised by any governmental or shall be conveyed to a quasi-governmental authority in lieu of such takingauthority, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease shall terminate as of the date that the Tenant is required to surrender possession vacate the Premises and all Base and Additional Rent shall be paid up to and until same date of termination. If only part of the Leased Premises shall be taken and the size of the Premises are proportionately reduced, then the Tenant is entitled to an equal and proportionate reduction in Base Rent and Additional Rent. Further, Landlord shall, as expeditiously as possible, repair the remaining portion of Leased Premises to the extent necessary to render the same suitable for which the Premises were leased. Tenant hereby waives any right that it may have to any condemnation award or sum paid under threat of condemnation as a result of such takinga complete or partial asking of the Leased Premises and/or any portion of the Building, or its Common Areas. If there is only a part partial taking of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's useBuilding and/or its Common Areas, then this Lease shall be terminated as not terminate and this Lease shall remain in full force and in effect. After partial taking of the Building or its common areas, the Landlord, within a reasonable time thereafter, shall repair or reconstruct the remaining portion of the Building and/or its Common Areas to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be extent necessary to render make the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert same a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertycomplete architectural unit.
Appears in 1 contract
Sources: Lease Agreement (ADS Tactical, Inc.)
Eminent Domain. If the whole or Either party may terminate this Lease if (i) any material part of the Premises Premises, (ii) any material points of vehicle access serving the Building, or Project (including iii) any material parking areas) shall be rights under this Lease are taken or condemned for any public or quasipublic quasi-public use under Law, by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority private purchase in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as thereof (a result of such taking“Taking”). If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not also have the right to assert terminate this Lease if there is a claim against Taking of any portion of the governmental authority exercising its power Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of eminent domain based upon the value Building. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant's leasehold interest’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for such taking or conveyance a Taking shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant's personal property and Tenant's reasonable relocation expenses, provided the governmental authorityfiling of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, but not from Landlord, such compensation as may be awarded to Tenant on account with reasonable diligence, will restore the remaining portion of the interruption Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of Tenant's business, moving this Lease shall govern any Taking and relocation expenses and depreciation to and removal shall accordingly supersede any contrary statute or rule of Tenant's trade fixtures and personal propertylaw.
Appears in 1 contract
Sources: Lease Agreement (Lantronix Inc)
Eminent Domain. If the whole all or any part of the Premises or Project (including parking areas) shall be is taken for public or quasipublic quasi-public use by a governmental authority under the power of eminent domain or shall be is conveyed to a governmental authority in lieu of such taking, and if such the taking or conveyance shall cause causes the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant mayTenant, at its optionoption and by giving notice within fifteen (15) days after the taking, may terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such takingPremises. If a part of the Premises or Project shall be is taken or conveyed but the remaining part is tenantable and adequate for Tenant's ’s use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such the taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant Tenant, and Tenant hereby assigns to Landlord all its right, title and interest in and to any such the award. However, Tenant shall have the right right, however, to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's ’s business, moving and relocation expenses and depreciation to and removal of Tenant's ▇▇▇▇▇▇’s trade fixtures and personal property.
Appears in 1 contract
Sources: Lease Agreement
Eminent Domain. If In case the whole or any part of the Premises Premises, or such part thereof as, in the reasonable determination of Landlord, shall substantially interfere with Tenant's use and occupation thereof, or such portion of the Building or Project (including parking areas) as, in the reasonable determination of Landlord, shall substantially interfere with Landlord's ability to perform its obligations under this Lease, shall be taken for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or shall be conveyed to a governmental authority sold in lieu of or to prevent such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant either party shall have the right to recover from terminate this Lease effective as of the governmental date possession is required to be surrendered to said authority. In the case of a taking of a portion of the Premises, but not from in the event the amount of property or the type of estate taken shall not, in the reasonable determination of Landlord, such compensation as may be awarded to Tenant on account of substantially interfere with the interruption conduct of Tenant's business, moving Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking (less the portion thereof lost in such condemnation), and relocation expenses the Base Rent and depreciation to and removal of Tenant's trade fixtures Share shall be proportionately reduced by the portion of the Premises which Tenant shall have been deprived of on account of said taking, effective as of the date possession is required to be surrendered to the condemning authority. In the event, however, that such taking is for temporary use only for a period of less than ninety (90) days, this Lease shall continue in full force and personal propertyeffect, and Tenant shall continue to comply with all of the provisions hereof, except as such compliance shall be rendered impossible or impracticable by reason of such temporary taking. Rent shall ▇▇▇▇▇ during the course of a temporary taking of the Premises or a portion thereof to the extent and for the period of time that the Premises or portion thereof so taken shall have been rendered untenantable.
Appears in 1 contract
Sources: Lease (Sedona Corp)
Eminent Domain. If the whole Building, or any a substantial part thereof, or a substantial part of the Premises or Project (including parking areas) Premises, shall be lawfully taken for public or quasipublic use by a governmental authority condemned (or conveyed under the power threat of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause condemnation) for any public or quasi-public use or purpose, the remaining part Term of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to end upon, and not before, the part taken or conveyed as date of the date Tenant surrenders possession; Landlord shall make such repairstaking of possession by the condemning authority, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part without apportionment of the Premises so taken or conveyedaward. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its rightTenant's interest, title and interest if any, in and to any such award. HoweverCurrent Rent shall be apportioned as of the date of such termination. If any part of the Building, other than the Premises or not constituting a part of the Premises, shall be so taken or condemned (or conveyed under threat of such taking or condemnation), or if the grade of any street adjacent to the Building is changed by any competent authority and such taking or change of grade makes it necessary or desirable to substantially remodel or restore the Building, Landlord shall have the right to cancel this Lease upon not less than ninety (90) days' notice prior to the date of cancellation designated in the notice. No money or other consideration shall be payable by Landlord to Tenant for the right of cancellation, and Tenant shall have no right to share in any condemnation award, or in any judgment for damages, or in any proceeds of any sale made under any threat of condemnation or taking. In the event this Lease is not canceled, the Lease shall continue in full force and effect, without abatement or reduction of rental due hereunder. Notwithstanding the above, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, make a separate claim for any moving and or relocation expenses and depreciation associated with any eminent domain proceedings relating to and removal of Tenant's trade fixtures and personal propertythe Premises.
Appears in 1 contract
Sources: Standard Building Lease (Bourbon Brothers Holding Corp)
Eminent Domain. If In the event that the whole of the Demised Premises or access thereto, shall be lawfully condemned or taken in any manner for any public or quasi-public use, this Lease and the term and estate hereby granted shall forthwith cease and terminate as of the date of vesting of title. In the event that a material part of the Demised Premises shall be so condemned or Project taken, then effective as of the date of vesting of title, rent and Additional Rent hereunder shall be abated in an amount thereof apportioned according to the area of the Demised Premises so condemned or taken. In the event that a material part of the Building (including parking areasin excess of 25%) shall be taken for public so condemned or quasipublic use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leasedtaken, then Tenant Landlord (whether or not the Demised Premises be affected) may, at its option, option terminate this Lease and the term and estate hereby granted as of the date Tenant is required to surrender possession of the Premises as a result of such takingvesting of title by notifying Tenant in writing of such termination within forty-five (45) days following date on which Landlord shall have received notice of vesting of title. If In the event that only a part of the Demised Premises or Project shall be so condemned or taken or conveyed and this Lease and the term and estate hereby granted is not terminated as hereinbefore provided, Landlord will, at its expense, promptly (but in all events in less than 120 days) restore the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated portion of the Demised Premises as nearly as practicable to the part taken same condition as it was in prior to such condemnation or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertytaking.
Appears in 1 contract
Eminent Domain. If the whole Building, or a substantial part thereof or a substantial part of the PREMISES, shall be lawfully taken or condemned or conveyed in lieu thereof, (or conveyed under threat of such taking or condemnation), for any public or quasi-public use or purpose, the term of this Lease shall end upon and not before the date of the taking of possession by the condemning authority and without apportionment of the award. TENANT hereby assigns to LANDLORD TENANT'S interest, if any, in such award and specifically agrees that any such award shall be the entire property of LANDLORD in which TENANT shall not be entitled to share. TENANT further waives any right to challenge the right of the condemning authority to proceed with such taking. Current rent shall be apportioned as of the date of such termination. If any part of the Premises Building other than the PREMISES or Project (including parking areas) not constituting a substantial part of the PREMISES, shall be so taken for public or quasipublic use by a governmental authority condemned (or conveyed under the power threat of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause condemnation), or if the remaining part grade of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as any street adjacent to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations Building is changed by any competent authority and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be change of grade 14 makes it necessary or desirable to substantially remodel or restore the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its rightBuilding, title and interest in and to any such award. However, Tenant LANDLORD shall have the right to recover from cancel this Lease upon not less than ninety (90) days notice prior to the governmental authoritydate of cancellation designated in the notice. No money or other consideration shall be payable by LANDLORD to TENANT for the right of cancellation, but not from Landlord, such compensation as may be awarded and TENANT shall have no right to Tenant on account share in any condemnation award or in any judgment for damages or in any proceeds of any sale made under any threat of condemnation or taking. TENANT shall have the interruption of Tenant's business, moving and right to separately pursue its own award for relocation expenses and depreciation to and removal in the event of Tenant's trade fixtures and personal propertysuch condemnation proceedings.
Appears in 1 contract
Sources: Lease Agreement (Quotesmith Com Inc)
Eminent Domain. If the whole or any part of the Premises or Project (including parking areas) shall be taken for public or quasipublic quasi-public use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such takingPremises. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be he reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. , All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant Tenant, and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal property.
Appears in 1 contract
Sources: Lease (Early Detect)
Eminent Domain. If In case the whole of the Premises, or any such part thereof that substantially interferes with the reasonable use of the Premises or Project (including for storage and parking areas) purposes, shall be taken for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or shall be conveyed sold to a governmental authority in lieu of prevent such taking, and if such taking or conveyance either party shall cause have the remaining part of the Premises right to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease effective as of the date Tenant possession is required to surrender possession be surrendered to said authority. Tenant shall not 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. In the event the amount of property or the type of estate taken shall not substantially interfere with the reasonable use of the Premises as a result for storage and parking purposes, Landlord shall be entitled to the entire amount of such takingthe award without deduction for any estate or interest of Tenant. If a part there is no substantial interference or if there is substantial interference, but neither party elects to terminate, Landlord shall promptly proceed to restore the Premises to substantially the same condition as the Premises existed prior to such partial taking, to the extent possible by application of the Premises or Project condemnation proceeds only, and a proportionate allowance shall be taken or conveyed but made to Tenant for the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as rent corresponding to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairstime during which, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. of which Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant so deprived on account of such taking and restoration. Nothing contained in this Section shall be deemed to give Landlord any interest in any award made to Tenant for the interruption taking of personal property and fixtures belonging to Tenant's business, moving and relocation expenses and depreciation to and removal . Each party waives the provisions of Tenant's trade fixtures and personal property.California Code
Appears in 1 contract
Sources: Commercial Lease Agreement
Eminent Domain. If (1) the whole or any part a material portion of the Premises or Project (including parking areas) shall be taken for public or quasipublic use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or condemned by a governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking), or (2) if the owner elects to convey title to the condemnor by a deed in lieu of condemnation, or (3) if all or any portion of the Property are so taken, condemned or conveyed but and as a result thereof, in Landlord’s reasonable judgment, the remaining part is tenantable and adequate Premises are rendered untenantable for Tenant's usethe Permitted Use, then this Lease shall be terminated as to the part taken or conveyed cease and terminate as of the date Tenant surrenders possession; Landlord shall make when title vests in such repairsgovernmental or quasi-governmental authority and Base Rent, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; charges on account of Taxes and the rent Operating Expenses, shall be reduced abated on the date when such title vests in proportion to the part such governmental or quasi-governmental authority. If less than a material portion of the Premises so shall be taken or conveyed. Tenant shall not have the right to assert condemned by a claim against the governmental or quasi governmental authority exercising its power for any public or quasi-public use or purpose (including sale under threat of eminent domain based upon the value such a taking), then this Lease shall continue in full force and effect; provided, however, that Base Rent, and charges on account of Tenant's leasehold interest. All compensation awarded for such taking or conveyance Taxes and Operating Expenses, shall be equitably abated on the property of Landlord without date when such title vests in such governmental or quasi-governmental authority. In any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. Howevercase, Tenant shall have no claim against Landlord for any portion of the right to recover from the governmental authority, but not from Landlord, such compensation as amount that may be awarded as damages as a result of any governmental or quasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all rights of Tenant to damages therefor are hereby assigned by Tenant on account to Landlord. The foregoing shall not, however, deprive Tenant of any separate award for moving expenses, dislocation damages or for any other award which would not reduce the award payable to Landlord. As used herein, “material portion of the interruption of Tenant's businessPremises” shall mean such amount that, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertyin Landlord’s reasonable judgment, would render the Premises untenantable for the Permitted Use.
Appears in 1 contract
Sources: Office Lease Agreement (Tufin Software Technologies Ltd.)
Eminent Domain. If the whole or any part of the Premises or Project (including parking areas) shall be taken for public or quasipublic use by a governmental authority under the power of eminent domain or acquired in lieu thereof, then this Lease shall terminate as to the part so taken on the day when Tenant is required to yield possession thereof to the condemning authority, and, subject to the rights of mortgagees and further subject to the sufficiency in amount of the award or price paid on account of the taking or acquisition in lieu thereof, Landlord shall make such repairs and alterations as may be necessary in order to restore the part not taken to useful condition; and the Basic Rent and Tenant's Proportionate Share shall be conveyed reduced, proportionately, as to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part portion of the Premises so taken. If the amount of the Premises so taken or acquired is such as to be untenantable and inadequate for use by Tenant impair substantially the usefulness of the Premises for the purpose purposes for which they were the same are hereby leased, then Tenant may, at its option, either party shall have the option to terminate this Lease as of the date when Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders yield possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded or paid for such taking or conveyance acquisition shall belong to and be the property of Landlord without except to the extent that any deduction therefrom such compensation is specifically designated for the leasehold interest. Anything herein to the contrary notwithstanding, if a substantial part of the Building and/or of Landlord's Tract is taken or acquired in the manner aforesaid, whether or not the Premises are so taken or acquired to any present or future estate extent and irrespective of Tenant and Tenant hereby assigns the extent of any award of proceeds to Landlord all its rightby virtue of the taking or acquisition in lieu thereof, title and interest in and to any such award. However, Tenant Landlord shall have the right to recover from the governmental authorityright, but not from Landlord, such compensation as may be awarded upon written notice to Tenant on account of the interruption of Tenant's businesswithin sixty (60) days after such taking or acquisition, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertyterminate this Lease.
Appears in 1 contract
Eminent Domain. If all or any material part of the whole Premises shall be taken or condemned by any competent authority for any public purpose, or if any adjacent property or street shall be condemned or improved in a manner that unreasonably interferes with or prevents the use of any material part of the Premises, the Term of this Lease shall, at the option of Landlord or Tenant exercised upon written notice to the other party, end as of the date of the actual taking, without apportionment to Tenant of any portion of the award or damages, other than any amount for Tenant’s moving expenses, business information, and the unamortized portion of Tenant’s leasehold improvements. Otherwise, this Lease shall remain in full force and effect, Base Rent shall be equitably reduced to the extent Tenant’s use and enjoyment of the Premises is affected, without apportionment to Tenant of any portion of the award or damages, other than any amount for Tenant’s moving costs, business interruption, and the unamortized portion of Tenant’s leasehold improvements. For purposes of this Section 19, “material” shall mean any part of the Premises which reasonably interferes or Project (including parking areas) shall be taken for public or quasipublic prevents that use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises in substantially the same manner as the Premises was used immediately prior to such taking. In the event of a termination pursuant to this Section 19, current Rent, both Base and Additional, shall be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of apportioned to the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then leasehold interest vested in Tenant by this Lease shall be terminated as to the part condemned or taken or conveyed in any manner, Landlord’s and Tenant’s obligations under this Lease shall terminate as of the date Tenant surrenders possession; Landlord shall make of such repairs, alterations and improvements as may be necessary to render the part not taken condemnation or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertytaking.
Appears in 1 contract
Eminent Domain. If the whole or any part more than twenty percent (20%) of the Demised Premises (or Project (including parking areasuse or occupancy of the Demised Premises) shall be taken or condemned by any governmental or quasi-governmental authority for any public or quasipublic quasi-public use or purpose (including sale under threat of such a taking), or if the Landlord elects to convey title to the condemnor by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority deed in lieu of such takingcondemnation, and or if such taking all or conveyance shall cause the remaining part any portion of the Premises to be untenantable Land or Building are so taken, condemned or conveyed and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of thereof, in Landlord's or Tenant's judgment, the Demised Premises or Project shall cannot be taken or conveyed but the remaining part is tenantable and adequate used for Tenant's usepermitted use as set forth herein, then this Lease shall be terminated as to the part taken or conveyed cease and terminate as of the date Tenant surrenders possession; Landlord when title vests in such governmental or quasi-governmental authority and the Fixed Rent and Additional Rent shall make be abated on the date when such repairs, alterations and improvements as may be necessary to render title vests in such governmental or quasi-governmental authority. If less than twenty percent (20%) of the part not Demised Premises is taken or conveyed tenantable; condemned by any governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking), the Fixed Rent and Tenant's proportionate share shall be equitably adjusted (on the basis of the number of square feet before and after such event) on the date when title vests in such governmental or quasi-governmental authority and the rent Lease shall be reduced otherwise continue in proportion to the part of the Premises so taken or conveyedfull force and effect. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without In any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. Howevercase, Tenant shall have no claim against Landlord for any portion of the right to recover from the governmental authority, but not from Landlord, such compensation as amount that may be awarded as damages as a result of any governmental or quasi-governmental taking or condemnation (or sale under threat of such taking or condemnation); and all rights of Tenant to damages therefor are hereby assigned by Tenant on account to Landlord. The foregoing shall not, however, deprive Tenant of any separate award for moving expenses, dislocation damages or for any other award which would not reduce the interruption of Tenant's business, moving and relocation expenses and depreciation award payable to and removal of Tenant's trade fixtures and personal propertyLandlord.
Appears in 1 contract
Eminent Domain. A. If a portion of the whole Building or the Premises shall be lawfully taken or condemned for any public or quasi-public use or purpose, or conveyed under threat of such condemnation and as a result thereof the Premises cannot be used for the same purpose and with the same utility as before such taking or conveyance, the terms of this Lease shall end upon, and not before, the date of the taking of possession by the condemning authority, and without apportionment of the award. Tenant hereby assigns to the Landlord, Tenant’s interest in such award, if any. Current rent shall be apportioned as of the date of such termination. If any part of the Premises or Project (including parking areas) Building shall be so taken for public or quasipublic use condemned, or if the grade of any street or alley adjacent to the Building is changed by a governmental any competent authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause change of grade makes it necessary or desirable to demolish, substantially remodel, or restore the remaining part of Building, the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from cancel this Lease upon not less than ninety (90) days’ prior notice to the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account date of cancellation designed in the notice.
B. If a portion of the interruption Premises shall be lawfully taken or condemned or conveyed under threat of Tenant's businesscondemnation but thereafter the Premises can be used by Tenant for the same purpose and with substantially the same utility, moving this Lease shall not be terminated and relocation expenses Landlord shall repair the Premises (but Landlord shall not be required to expend more on such repair than the amount of the condemnation award), and depreciation the Lease shall be amended to equitably reduce the Base Rent. No money or other consideration shall be payable by the Landlord to the Tenant for any right of cancellation or temporary taking, and removal the Tenant shall have no right to share in any condemnation award or to share in any judgment for damages caused by a change of Tenant's trade fixtures and personal propertygrade.
Appears in 1 contract
Eminent Domain. If the whole or any part of the Premises or Project (including parking areas) shall be taken for public or quasipublic quasi- public use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such takingPremises. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent Rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant Tenant, and Tenant hereby assigns to Landlord all its right, title and interest in In and to any such award. However, Tenant ▇▇▇▇▇▇ shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant▇▇▇▇▇▇'s trade fixtures and personal property.
Appears in 1 contract
Sources: Office Lease
Eminent Domain. If In case the whole Premises, Building, land or any Common Areas, or such part of any thereof, as shall substantially interfere with the Premises or Project (including parking areas) Tenant's use and occupancy of the Premises, shall be taken for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or sold to prevent such taking, this Lease shall terminate on the earlier of the date of such sale or the date possession is required to be conveyed surrendered to a governmental authority in lieu said authority. Tenant shall not, because of such taking, and if assert any claim against the Landlord, for any compensation because of such taking of any interest in this Lease, the land, Building, Premises or conveyance Common Areas and Landlord shall cause be entitled to receive the remaining part entire amount of any award without deduction for any estate or interest of Tenant, except as is separately awarded to Tenant by the condemning authority. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant's business, Landlord shall be entitled to the entire amount of the Premises to be untenantable award, without deduction for any estate or interest of Tenant, and inadequate for use by Tenant for the purpose for which they were leased, then Tenant mayLandlord, at its option, may terminate this Lease as of the date Tenant is required Lease. If Landlord does not so elect, Landlord shall promptly proceed to surrender possession of restore the Premises as to substantially its same condition prior to such partial taking, and a result of such taking. If a part of the Premises or Project proportionate allowance shall be taken or conveyed but made to Tenant for the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as rent corresponding to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairstime during which, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. of which, Tenant shall not have the right to assert a claim against the governmental authority exercising its power be so deprived on account of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and restoration, and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have waives the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account provisions of the interruption Code of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertyCivil Procedure Section 1265.
Appears in 1 contract
Sources: Office Lease (Retix)
Eminent Domain. (a) If a portion of the whole Building, or the Premises, shall be lawfully taken or condemned for any public or quasi-public use or purpose, or conveyed under threat of such condemnation, and as a result thereof, the Premises cannot be used for the same purpose and with the same utility as before such taking or conveyance, the Term of this Lease shall end upon, and not before, the date of the taking of possession by the condemning authority, and without apportionment of the award. Tenant hereby assigns to the Landlord Tenant’s interest in such award, if any. Current rent shall be apportioned as of the date of such termination. If any part of the Premises or Project (including parking areas) Building shall be so taken for public or quasipublic use condemned, or if the grade of any street or alley adjacent to the Building is changed by a governmental any competent authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause change of grade makes it necessary or desirable to demolish, substantially remodel, or restore the remaining part of Building, the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from cancel this Lease upon not less than ninety (90) days’ prior notice to the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account date of cancellation designated in the notice.
(b) If a portion of the interruption Premises shall be lawfully taken or condemned or conveyed under threat of condemnation but thereafter the Premises can be used by Tenant for the same purpose and with substantially the same utility, this Lease shall not be terminated by Landlord and Landlord shall repair the Premises, and the Lease shall be amended to reduce the Tenant's business’s Proportion and Base Rent in the proportion of the amount of the Premises taken. No money or other consideration shall be payable by the Landlord to the Tenant for any right of cancellation or temporary taking, moving and relocation expenses and depreciation the Tenant shall have no right to and removal share in any condemnation award or in any judgment for damages caused by a change of Tenant's trade fixtures and personal propertygrade.
Appears in 1 contract
Eminent Domain. A. If the whole all or any part a material or significant portion of the Premises or Project (including parking areas) shall be taken for any public or quasipublic quasi-public use under any governmental law, ordinance, or regulation or by a governmental authority under the power right of eminent domain or shall be conveyed sold to a governmental the condemning authority in lieu under threat of such takingcondemnation, and or if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be is so taken or conveyed but sold so that the remaining part is Premises cannot, after restoration, be economically used for its current uses, or if the Premises cannot be restored within one hundred twenty (120) days after such a taking or sale to make the same tenantable and adequate economically suitable for Tenant's the current use, then this Lease shall be terminated as to the part taken or conveyed terminate as of the date of such taking or sale, and Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion liable hereunder only for Rent and other amounts hereunder due and payable prior to the time of such taking or sale.
B. If less than a material or significant part of the Premises so shall be taken for any public or conveyed. Tenant shall not have the quasi-public use under any governmental law, ordinance, or regulation or by right to assert a claim against the governmental authority exercising its power of eminent domain based upon or shall be sold to the value condemning authority under threat of Tenant's leasehold interest. All compensation awarded condemnation and the Premises can be economically used for the current use, then this Lease shall continue in full force and effect, and Landlord shall, at its sole cost and expense, restore and reconstruct the Premises in all reasonable promptness, to the extent of available proceeds from such eminent domain action and, in any event, within one hundred twenty (120) days from the date of such taking or conveyance sale, subject to extension for Force Majeure, to make the same tenantable and economically suitable for the current use of the Premises. Rent payable for the unexpired portion of the Lease term shall be adjusted equitably.
C. For any condemnation that occurs during the property of Term, Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns shall each be entitled to Landlord all its right, title receive such separate awards and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation portions of lump-sum awards as may be awarded allocated to Tenant on account their respective interests in such condemnation proceedings. The termination of this Lease shall not affect the rights of the interruption of Tenant's business, moving and relocation expenses and depreciation respective parties to and removal of Tenant's trade fixtures and personal propertythose awards.
Appears in 1 contract
Eminent Domain. If the whole Building, or a substantial part thereof, or a substantial part of the Leased Premises, shall be lawfully taken or condemned (or conveyed under threat of such taking or condemnation) for any public or quasi-public use or purpose, the Term of this Lease shall end upon, and not before, the date of the taking of possession by the condemning authority, and without apportionment of the award. Tenant hereby assigns to Landlord Tenant's interest, if any, in such award. Current Rent shall be apportioned as of the date of such termination. If any part of the Premises or Project (including parking areas) Building, other than the Leased Premises, not constituting a substantial part of the Building, shall be so taken for public or quasipublic use by a governmental authority condemned (or conveyed under the power threat of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause condemnation), or if the remaining grade of any street adjacent to the Building Complex is changed by any competent authority and such taking or change of grade makes it necessary or desirable to substantially remodel, replace or restore any part of the Premises Building Complex, Landlord shall have the right to cancel this Lease upon not less than ninety (90) calendar days' notice prior to the date of cancellation designated in the notice. No money or other consideration shall be untenantable and inadequate for use payable by Landlord to Tenant for the purpose right of cancellation, and Tenant shall have no right to share in any condemnation award, or in any judgment for which they were leaseddamages, then Tenant may, at its option, terminate or in any proceeds of any sale made under any threat of condemnation or taking. In the event this Lease as is not canceled, the Lease shall continue in full force and effect, without abatement or reduction of rental due hereunder. Notwithstanding the date foregoing, nothing contained herein shall prevent Tenant is required from commencing a separate proceeding against the condemning authority to surrender possession of the Premises recover any award it may be entitled to as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertycondemnation.
Appears in 1 contract
Eminent Domain. (a) If the whole or any substantial part of the Premises or Project (including parking areas) shall Building should be taken for any public or quasipublic quasi-public use under governmental law, ordinance or regulation, or by a governmental authority under the power right of eminent domain or shall be conveyed to a governmental authority in lieu of such takingdomain, and if such the taking would prevent or conveyance shall cause materially interfere with the remaining part use of the Premises to be untenantable and inadequate for use by Tenant or Building for the purpose for which they were leasedare then being used, then Tenant may, at its option, terminate this Lease shall terminate effective when the legal taking shall occur as if the date of such taking were the date originally fixed in the Lease for the expiration of the date Tenant is required to surrender possession of the Premises as a result of such taking. Term.
(b) If a part of the Building or Premises or Project shall be taken for any public or conveyed quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, and this Lease is not terminated as provided above, this Lease shall not terminate but the remaining part is tenantable and adequate for Tenant's use, then rent payable hereunder during the unexpired portion of this Lease shall be terminated reduced to reflect Tenant’s proportionate share, and Landlord shall undertake to restore the Premises to a condition suitable for Tenant’s use, as near to the part taken or conveyed condition thereof immediately prior to such taking as is reasonably feasible.
(c) In the event of the date any such taking, Landlord and Tenant surrenders possession; Landlord shall make each be entitled to receive and retain such repairs, alterations and improvements separate awards and/or portion of lump sum awards as may be necessary allocated to render the part not taken or conveyed tenantabletheir respective interests in any condemnation proceedings; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. provided that Tenant shall not have be entitled to receive any award for the loss of any improvements paid for by Landlord, the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of award being hereby assigned by Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal property.
Appears in 1 contract
Eminent Domain. (a) If the whole or any part all of the Premises Project, Building, or Project (including parking areas) Premises, or such part thereof as shall materially and adversely interfere with Tenant’s use and occupancy thereof, shall be taken for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or sold to prevent such taking, either party shall have the right to terminate this Lease effective as of the date possession is required to be surrendered to such authority. In addition, if such part of the Project as shall, in Landlord’s sole discretion, materially affect the continuing viability of the Project as an industrial project shall be conveyed 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 a governmental prevent such taking, the Landlord shall have the right to terminate this Lease effective as of the date possession is required to be surrendered to such authority. Tenant shall not assert any claim against Landlord or the taking authority in lieu for any compensation because of such taking, and if such taking Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or conveyance interest of Tenant. If the amount of property or the type of estate taken does not substantially interfere with the conduct of Tenant’s business, Landlord shall cause be entitled to the remaining part entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall restore the Premises to substantially their same condition before the partial taking to the extent Landlord receives condemnation proceeds (with any deficiency to be untenantable and inadequate for use paid by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such takingcondition to Landlord’s obligation to restore). If a part of Notwithstanding the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. Howeverforegoing, Tenant shall have the right to recover from proceed against the governmental authoritycondemning authority for any damages, but not from including rent paid to Landlord, such compensation as may be awarded to during the time Tenant is deprived of the use of the Premises on account of such taking and restoration, and nothing contained in this Paragraph shall be deemed to give Landlord any interest in any award made to Tenant for the interruption taking of personal property and fixtures belonging to Tenant. Rent during any such taking and restoration shall ▇▇▇▇▇ only to the proportionate extent of Tenant's business’s inability to use the Premises and only to the extent Landlord receives proceeds from any rent abatement insurance that may be carried by Landlord or business interruption insurance carried by Tenant.
(b) In the event of taking of the Premises or any part thereof for temporary use, moving (i) this Lease shall be and relocation expenses remain unaffected thereby and depreciation rent shall not ▇▇▇▇▇ except to and removal the proportionate extent of Tenant's trade fixtures ’s inability to use the Premises and personal propertyonly to the extent Landlord receives proceeds from any rent abatement insurance that may be carried by Landlord or business interruption insurance carried by Tenant, and (ii) Tenant shall be entitled to receive for itself such portion or portions of any award made for such use with respect to the period of the taking which is within the Term, provided that if such taking shall remain in force at the expiration or earlier termination of this Lease, Tenant shall then pay to Landlord a sum equal to the reasonable cost of performing Tenant’s obligations under Subparagraph 14(c) with respect to surrender of the Premises and upon such payment shall be excused from such obligations. For purpose of this Subparagraph 24(b), a temporary taking shall be defined as a taking for a period of 270 days or less.
Appears in 1 contract
Sources: Lease Agreement (Synbiotics Corp)
Eminent Domain. If the whole or Either party may terminate this Lease if any material part of the Premises is taken or Project (including parking areas) shall be taken condemned for any public or quasipublic quasi- public use under Law, by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority private purchase in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as thereof (a result of such taking“Taking”). If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not also have the right to assert terminate this Lease if there is a claim against Taking of any portion of the governmental authority exercising its power Building or Project which would have a material adverse effect on Landlord’s ability to profitably operate the remainder of eminent domain based upon the value Building or Project. The termination shall be effective as of the effective date of any order granting possession to, or vesting legal title in, the condemning authority. If this Lease is not terminated, Basic Rent and Tenant's leasehold interest’s Share of Operating Expenses shall be appropriately adjusted to account for any reduction in the square footage of the Building or Premises. All compensation awarded for such taking or conveyance a Taking shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from receive compensation or proceeds in connection with a Taking are expressly waived by Tenant; provided, however, Tenant may file a separate claim for Tenant's personal property and Tenant's reasonable relocation expenses, provided the governmental authorityfiling of the claim does not diminish the amount of Landlord’s award. If only a part of the Premises is subject to a Taking and this Lease is not terminated, but not from Landlord, such compensation as may be awarded to Tenant on account with reasonable diligence, will restore the remaining portion of the interruption Premises as nearly as practicable to the condition immediately prior to the Taking. Tenant agrees that the provisions of Tenant's business, moving this Lease shall govern any Taking and relocation expenses and depreciation to and removal shall accordingly supersede any contrary statute or rule of Tenant's trade fixtures and personal propertylaw.
Appears in 1 contract
Sources: Lease (Tandem Diabetes Care Inc)
Eminent Domain. 12.01 If the whole or any part material portion of the Premises or Project (including parking areas) shall be is taken for public or quasipublic use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such takingdomain, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its optionoption and in its sole discretion, at any time after the entry of the verdict or order for such taking, terminate this Lease upon at least ninety (90) days prior written notice to Landlord. If the entire Premises is taken under the power of eminent domain, then the Term of this Lease will cease as of the day actual possession will be taken by such power; and the Rent will be paid up to that date Tenant is required to surrender possession with a prorata refund by Landlord of any prepaid Rent.
12.02 If a material portion of the Premises is taken by eminent domain and Tenant does not elect to terminate this Lease, this Lease will terminate only as a result to the parts so taken as of the day possession will be taken by such public authority; thereafter, all of the Terms herein will continue in effect, except the Basic Rent will be reduced equitably to reflect the configuration of the Premises following the taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be is not terminated following such a condemnation or taking, Landlord, as to soon as is reasonably practicable after such condemnation or taking and the part taken or conveyed determination and payment of Landlord’s award on account thereof, will expend as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements much as may be necessary of the net amount awarded to render Landlord (and released by the part not taken Mortgagee) to restore (consistent, however, with zoning laws and building codes then in existence) so much of the Improvements to as nearly like its condition prior to such taking as will be economically practicable.
12.03 The whole of any award or conveyed tenantable; and the rent shall be reduced in proportion to the part compensation for any portion of the Premises so taken taken, condemned, or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power conveyed in lieu of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall condemnation will be solely the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns payable to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded except that portion attributable to Tenant on account Tenant’s loss of the interruption of Tenant's business, business and moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertyexpenses.
Appears in 1 contract
Sources: Net Lease (A123 Systems, Inc.)
Eminent Domain. If the whole or any part of the Premises or Project (including parking areas) shall be taken for public or quasipublic use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's ’s use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's ’s leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's ’s business, moving and relocation expenses and depreciation to and removal of Tenant's ’s trade fixtures and personal property.
Appears in 1 contract
Sources: Lease Agreement (Cray Inc)
Eminent Domain. If 11.2.1. In the whole event of any condemnation or taking in any part of the Premises or Project (including parking areas) shall be taken manner for public or quasipublic use by a governmental authority under the power of eminent domain or quasi-public use, which shall be conveyed deemed to include a governmental authority voluntary conveyance in lieu of such a taking (a "taking, and if such taking or conveyance shall cause the remaining part ") of the Premises to be untenantable and inadequate for use by Tenant for whole of the purpose for which they were leasedProperty, then Tenant may, at its option, terminate this Lease shall forthwith terminate as of the date when Tenant is required to surrender possession vacate the Premises.
11.2.2. Unless this Lease is terminated as provided herein, the Landlord, at its own expense, and proceeding with due diligence and all reasonable dispatch, but subject to delays beyond the reasonable control of Landlord, shall restore the remaining portion of the Premises (but, not any alterations or improvements made by or for Tenant, or any trade fixtures, equipment or personal property of Tenant or the Modular Furniture) and the necessary portions of the Property as a result of nearly as practicable to the same condition as it was prior to such taking, subject to zoning and building laws then in effect. If Notwithstanding the foregoing, Landlord's obligation to restore the remaining portion of the Premises shall be limited to the extent of the condemnation proceeds (net of all reasonable costs and expenses incurred in connection with same) received by Landlord on account thereof. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in restoring the Premises.
11.2.3. In the event that only a part of the Premises or Project the Property shall be taken taken, then, if such taking is a substantial taking (as hereinafter defined), either Landlord or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as Tenant may by delivery of notice in writing to the part taken or conveyed other within 60 days following the date on which Landlord's title has been divested by such authority, terminate this Lease, effective as of the date when Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary is required to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without vacate any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal property.portion
Appears in 1 contract
Sources: Lease (Soundbite Communications Inc)
Eminent Domain. If the whole all or any part more than 33-1/3% of the Premises or Project (including parking areas) all or a material portion of the Common Areas shall be taken for or appropriated by any public or quasipublic use by a governmental quasi-public authority under the power of eminent domain domain, or shall be conveyed to a governmental authority transfer in lieu of such takingthereof, and if such taking or conveyance either party hereto shall cause have the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant mayright, at its option, to terminate this Lease as of the date Tenant is required title vests in the condemning entity. Landlord shall be entitled to surrender possession any award, or other payment made in connection with such condemnation. Tenant, however, shall have the right to pursue a claim in any condemnation proceeding against the condemning authority (but not against Landlord) for compensation for any resulting damages to Tenant's business, trade fixtures and personal property (but not for any diminution or loss of the Premises as a result of such takingTenant's leasehold estate). If a part of the Premises or Project shall be so taken or conveyed but the remaining part is tenantable appropriated and adequate for Tenant's use, then this Lease shall is not thereafter terminated, the rental thereafter to be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent paid shall be reduced in the proportion to that the part area of the Premises so taken bears to the entire Premises. Notwithstanding the foregoing, however, before Tenant may terminate this Lease by reason of a taking or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for appropriation as described above, such taking or conveyance appropriation shall be of such an extent and nature as to substantially handicap, impede or impair Tenant's use of the property Premises for a period in excess of ninety (90) days (assuming Landlord without shall promptly commence any deduction therefrom for repairs necessary to restore the remaining Premises to a complete architectural unit). If any present material part of the Building other than the Premises shall be so taken or future estate of Tenant and Tenant hereby assigns to appropriated, Landlord all its shall have the right, title and interest in and at its option, to terminate this Lease. Landlord shall be entitled to the entire condemnation award or payment attributable to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account taking of the interruption Building or to any taking of Tenant's business, moving and relocation expenses and depreciation to and removal any portion of Tenant's trade fixtures and personal propertythe Common Areas.
Appears in 1 contract
Sources: Assignment and Assumption of Leases (Meadow Valley Corp)
Eminent Domain. If 23.1. In the event the whole or any part of the Premises Demised Premises, or Project (including parking areas) such part thereof as shall substantially interfere with the Tenant's use and occupancy thereof, shall be taken for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or shall be conveyed sold to a governmental authority in lieu of prevent such taking, Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority.
23.2. In the event of a partial taking of the Building, the Common Areas or of drives, walkways, and if parking areas serving the Building or the Project for any public or quasi-public 24 purpose by any lawful power of or authority by exercise of right of appropriation, condemnation, or eminent domain, or sold to prevent such taking or conveyance shall cause the remaining part then without regard as to whether any portion of the Demised Premises to be untenantable and inadequate for use occupied by Tenant for the purpose for which they were leased, then was so taken. Tenant may, at its option, may elect to terminate this Lease as of such taking if such taking is, in the date Tenant is required reasonable opinion of Tenant, of a material nature such as to surrender possession make it uneconomical to continue use of the Premises as a result unappropriated portion for purposes of such taking. If a part of the Premises office rentals or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyedlaboratory space.
23.3. Tenant shall not have be entitled to any award which is specifically awarded as compensation for the right taking of Tenant's Property and for costs of Tenant moving to assert a claim against new location. Except as before set forth, any award for such taking shall belong to Landlord.
23.4. If upon any taking of the governmental authority exercising nature described in this Article 23 this Lease continues in effect, the Landlord shall promptly proceed to restore the Demised Premises to substantially its power of eminent domain same condition prior to such partial taking. The Rent shall be abated proportionately based upon the extent to which Tenant's use of the Demised Premises has decreased on the basis of the percentage of the rental value of Tenant's leasehold interest. All compensation awarded for the Demised Premises after such taking or conveyance shall be and the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account rental value of the interruption of Tenant's business, moving and relocation expenses and depreciation Demised Premises prior to and removal of Tenant's trade fixtures and personal propertysuch taking.
Appears in 1 contract
Eminent Domain. If the whole or any part a material portion of the Premises or Project (including parking areas) shall be taken for public or quasipublic use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or condemned by a governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking), or if the owner elects to convey title to the condemner by a deed in lieu of condemnation, or if all or any portion of the Property are so taken, condemned or conveyed but and as a result thereof, in Landlord’s reasonable judgment, the remaining part is tenantable and adequate Premises cannot be used for Tenant's use’s Permitted Use as set forth herein, then this Lease shall be terminated as to the part taken or conveyed cease and terminate as of the date Tenant surrenders possession; Landlord shall make when title vests in such repairs, alterations governmental or quasi-governmental authority and improvements as may be necessary to render the part not taken or conveyed tenantable; Base Rent and the rent Additional Rent shall be reduced abated on the date when such title vests in proportion to the part such governmental or quasi-governmental authority. If less than a material portion of the Premises so shall be taken or conveyed. Tenant shall not have the right to assert condemned by a claim against the governmental or quasi-governmental authority exercising its power for any public or quasi-public use or purpose (including sale under threat of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance a taking), Base Rent and Additional Rent shall be equitably abated on the property of Landlord without date when such title vests in such governmental or quasi-governmental authority and this Lease shall otherwise continue in full force and effect. In any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. Howevercase, Tenant shall have no claim against Landlord for any portion of the right to recover from the governmental authority, but not from Landlord, such compensation as amount that may be awarded as damages as a result of any governmental or quasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all rights of Tenant to damages therefor are hereby assigned by Tenant on account to Landlord. The foregoing shall not, however, deprive Tenant of any separate award for moving expenses, dislocation damages or for any other award which would not reduce the award payable to Landlord. As used herein, “material portion of the interruption of Tenant's businessPremises” shall mean such amount that, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertyin Landlord’s reasonable judgment, would render the Premises untenantable for the Permitted Use.
Appears in 1 contract
Sources: Lease (Flywire Corp)
Eminent Domain. If In case the whole or any part of the Premises Premises, or Project (including parking areas) such part thereof as shall substantially interfere with the reasonable use of the premises as office space, shall be taken for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or shall be conveyed sold to a governmental authority in lieu of prevent such taking, and if such taking or conveyance either party shall cause have the remaining part of the Premises right to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease effective as of the date Tenant possession is required to surrender possession be surrendered to said authority. Tenant shall not 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. In the event the amount of property or the type of estate taken shall not substantially interfere with the reasonable use of the Premises as a result office space, Landlord shall be entitled to the entire amount of such takingthe award without deduction for any estate or interest of Tenant. If a part there is no substantial interference or if there is substantial interference, but neither party elects to terminate, Landlord shall promptly proceed to restore the Premises to substantially the same condition as the Premises existed prior to such partial taking, to the extent possible by application of the Premises or Project condemnation proceeds only, and a proportionate allowance shall be taken or conveyed but made to Tenant for the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as rent corresponding to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairstime during which, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. of which Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant so deprived on account of such taking and restoration. Nothing contained in this Paragraph shall be deemed to give Landlord any interest in any award made to Tenant for the interruption taking of personal property and fixtures belonging to Tenant's business, moving and relocation expenses and depreciation . Each party waives the provisions of California Code of Civil Procedure Section 1265.130 allowing either party to and removal petition the Superior Court to terminate this Lease in the event of Tenant's trade fixtures and personal propertya partial taking of the premises.
Appears in 1 contract
Sources: Office Lease (Solar Power, Inc.)
Eminent Domain. If the whole all or any part of the Premises or Project (including parking areas) shall be is taken for public or quasipublic quasi-public use by a governmental authority under the power of eminent domain or shall be is conveyed to a governmental authority in lieu of such taking, and if such the taking or conveyance shall cause causes the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant mayTenant, at its optionoption and by giving notice within thirty (30) days after the taking, may terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such takingPremises. If a part of the Premises or Project shall be is taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent Rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such the taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant Tenant, and Tenant hereby assigns to Landlord all its right, title and interest in and to any such the award. However, Tenant shall have the right right, however, to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures t▇▇▇▇ ▇ixtures and personal property.
Appears in 1 contract
Eminent Domain. If the whole or any part of the Premises or Project (including parking areas) shall be taken for public or quasipublic quasi-public use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such takingPremises. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant Tenant, and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal property.
Appears in 1 contract
Sources: Purchase and Sale Agreement (Behringer Harvard Reit I Inc)
Eminent Domain. If the whole Building, or any a substantial part thereof, or a substantial part of the Premises or Project (including parking areas) Premises, shall be lawfully taken for public or quasipublic use by a governmental authority condemned (or conveyed under the power threat of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause condemnation) for any public or quasi-public use or purpose, the remaining part Term of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to end upon, and not before, the part taken or conveyed as date of the date Tenant surrenders possession; Landlord shall make such repairstaking of possession by the condemning authority, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part without apportionment of the Premises so taken or conveyedaward. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its rightTenant's interest, title and interest if any, in and to any such award. HoweverCurrent Rent shall be apportioned as of the date of such termination. If any part of the Building, other than the Premises or not constituting a substantial part of the Premises, shall be so taken or condemned (or conveyed under threat of such taking or condemnation), or if the grade of any street adjacent to the Building is changed by any competent authority and such taking or change of grade makes it necessary or desirable to substantially remodel or restore the Building, Landlord shall have the right to cancel this Lease upon not less than ninety (90) days' notice prior to the date of cancellation designated in the notice. No money or other consideration shall be payable by Landlord to Tenant for the right of cancellation, and Tenant shall have no right to share in any condemnation award, or in any judgment for damages, or in any proceeds of any sale made under any threat of condemnation or taking. In the event this Lease is not canceled, the Lease shall continue in full force and effect, without abatement or reduction of rental due hereunder. Notwithstanding the above, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, make a separate claim for any moving and or relocation expenses and depreciation associated with any eminent domain proceedings relating to and removal of Tenant's trade fixtures and personal propertythe Premises.
Appears in 1 contract
Sources: Standard Building Lease (Integrated Information Systems Inc)
Eminent Domain. If the whole Premises, the Building, or such a substantial part thereof, which in Landlord's reasonable judgment renders the remainder unfit for the intended uses, shall be taken by any competent authority under the power of the eminent domain or be acquired for any public or quasi-public uses or purpose, the term of the Lease shall cease and terminate upon the effective date of the taking and Tenant shall have no claim against Landlord for the value of any unexpired term of the Lease. If any part of the Premises or Project (including parking areas) shall be Building is taken for public or quasipublic use by a governmental any competent authority under the power of eminent domain or shall be conveyed is acquired for any public or quasi-public uses or purpose, or if the configuration or grade of any street or alley or other improvement or structure adjacent to a governmental authority in lieu of the Building is changed and such taking, and if such taking or conveyance shall cause acquisition, or change of grade or configuration makes it necessary or desirable in Landlord's judgment to remodel the remaining part of the Premises Building to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as conform to the part taken taking, acquisition, or conveyed as of the date Tenant surrenders possession; changed grade or configuration, Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover terminate this Lease after having given written notice of termination to Tenant not less than ninety (90) days prior to the date of termination designated in the notice. In either of said events, Rent at the then current rate shall be apportioned as of the date of the termination. If any portion of the Premises is so taken and the Lease is not terminated, then Base Rent and Tenant's Proportionate Share shall be equitably reduced to reflect the new rentable square footage of the Premises. No money or other consideration shall be payable by Landlord to Tenant for the right of termination and Tenant shall have no right to share in the condemnation award or in any judgment for damages caused by the taking or the change of grade. However, nothing in this paragraph shall preclude Tenant from independently seeking an award from the governmental authorityauthority for any damages or relocation benefits which Tenant is entitled to under governing law, but provided that such separate award shall not from reduce the award or judgment recoverable by Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal property.
Appears in 1 contract
Sources: Office Lease (Ebix Com Inc)
Eminent Domain. If during the whole or Term of this Lease any part of the Leased Premises or Project (including parking areas) shall be the Building is taken for public by condemnation or quasipublic use by a governmental authority under conveyed to an entity having the power of eminent domain or shall be conveyed to a governmental authority in lieu take property by condemnation under threat of such a taking, and if such taking or conveyance shall cause the remaining part of the Premises Landlord may elect to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such takingLease. If a part of Landlord elects to continue the Premises or Project shall be taken or conveyed but Lease, the remaining part is tenantable Rental and adequate for Tenant's useAdditional Rental, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairsif any, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part area of the Leased Premises so taken or conveyed. Tenant conveyed and Landlord shall not have repair any damage to the right to assert a claim against Leased Premises or the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interestBuilding resulting from such taking. All compensation sums awarded or agreed upon between Landlord and the condemning authority for such the taking or conveyance of the interest of Landlord and Tenant, whether as damages or as compensation, shall be the property of Landlord without only. If this Lease is terminated pursuant to the provisions of this Paragraph 19, such termination shall be effective on and the Rental and Additional Rental, if any, shall be payable up to the date that possession is taken by the authority condemning or threatening to condemn and Landlord shall refund to Tenant any deduction therefrom for prepaid unaccrued Rental and Additional Rental, if any, less any present or future estate of sums then owing by Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such awardLandlord. HoweverThe above notwithstanding, Tenant shall have be able to make a separate claim for the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account value of the interruption of Tenant's business, moving its Leasehold Improvements and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertyits Leasehold Interest.
Appears in 1 contract
Eminent Domain. If Except as hereinafter provided, if the whole Building, or any part of such portion thereof as to render the Premises or Project balance (including parking areasif reconstructed to the maximum extent practicable in the circumstances) unsuitable for Tenant's purposes, shall be taken for public by condemnation or quasipublic use by a governmental authority under the power right of eminent domain domain, or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall parking privileges should be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be substantially reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. Howeverthereby, Tenant shall have the right to recover terminate this Lease by notice to Landlord of its desire to do so, provided that such notice is given not later than thirty (30) days after the effective date of such taking. If so much of the Building shall be so taken that Landlord (i) terminates all of the leases in the Building (except that during the last three (3) years of the Term, Landlord shall be required to terminate only leases covering an aggregate of 80% of the rentable floor area of the Building), and (ii) determines that it would be appropriate to raze or substantially alter the Building, Landlord shall have the right to terminate this Lease by giving notice to Tenant of Landlord's desire to do so not later than thirty (30) days after the effective date of such taking. Should any part of the Premises be so taken or condemned during the Term, and should this Lease be not terminated in accordance with the foregoing provisions, Landlord agrees to use reasonable efforts to put what may remain of the Premises into proper condition for use and occupation as nearly like the condition of the Premises prior to such taking as shall be practicable, and furnish or cause to be furnished parking privileges to Tenant consistent with the terms of this Lease subject, however, to applicable laws and codes then in existence and to the availability of sufficient proceeds from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertyeminent domain taking.
Appears in 1 contract
Sources: Sublease (Viacell Inc)
Eminent Domain. Section 1: If any portion of the whole or any part rentable area of the Premises or Project (including parking areas) shall be taken for public or quasipublic use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate condemned by any governmental or quasi-governmental authority for Tenant's useany public or quasi-public use or purpose or sold under threat of such a taking or condemnation (collectively, “condemned”), then this Lease shall be terminated as to the part taken or conveyed as of terminate on the date Tenant surrenders possession; Landlord shall make title vests in such repairs, alterations authority and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion apportioned as of such date. Notwithstanding anything herein to the part contrary, if any portion of the Premises so taken Land or conveyedthe Building is condemned, and the nature, location or extent of such condemnation is such that Landlord elects, in its sole and absolute discretion, to demolish the Building (in whole or in part), then Landlord may terminate this Lease by giving one hundred twenty (120) days prior written notice of such termination to Tenant at any time after such condemnation and this Lease shall terminate on the date specified in such notice and rent shall be adjusted to such date. · · Section 2: All awards, damages and other compensation paid by such authority on account of such condemnation shall belong to Landlord, and Tenant assigns to Landlord all rights to such awards, damages and compensation. Tenant shall not have make any claim against Landlord or the right authority for any portion of such award, damages or compensation attributable to assert damage to the Premises, value of the unexpired portion of the Lease Term, loss of profits or goodwill, leasehold improvements or severance damages. Nothing contained herein, however, shall prevent Tenant from pursuing a separate claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for relocation expenses, provided that such taking or conveyance shall be the property of Landlord without claim is stated separately from any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns award to Landlord all its rightand provided further that such claim shall in no way diminish the award, title and interest damages or compensation otherwise payable to Landlord in and to any connection with such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertycondemnation.
Appears in 1 contract
Sources: Lease Agreement (Lucid Inc)
Eminent Domain. If 23.1 In the event the whole or any part of the Premises or Project (including parking areas) shall be taken for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or shall be conveyed sold to a governmental authority in lieu of prevent such taking, and Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority.
23.2 In the event of a partial taking of the Premises for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sold to prevent such taking, then Landlord may elect to terminate this Lease if such taking or conveyance shall cause the remaining part is of a material nature such as to make it uneconomical to continue use of the Premises to be untenantable and inadequate for use by Tenant unappropriated portions for the purpose purposes for which they were leasedintended, then and Tenant may, at its option, may elect to terminate this Lease if such taking is of material detriment to, and substantially interferes with, Tenant's use and occupancy of the Premises. In no event shall this Lease be terminated when such a partial taking does not have a material adverse effect upon Landlord or Tenant or both. Termination by either party pursuant to this section shall be effective as of the date Tenant possession is required to surrender possession be surrendered to said authority.
23.3 If upon any taking of the Premises as a result of such taking. If a part nature described in this Article 23 this Lease continues in effect, then Landlord shall promptly proceed to restore the remaining portion of the Premises or Project Premises, and all improvements and fixtures located thereon, to substantially their same condition prior to such partial taking; provided, however, Landlord's obligation hereunder shall be taken or conveyed but limited to the remaining part is tenantable and adequate for Tenant's use, then this Lease amount of the condemnation proceeds. Basic Annual Rent shall be terminated as to abated proportionately on the part taken or conveyed as basis of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal property.rental
Appears in 1 contract
Eminent Domain. If the whole Building, or any a substantial part of the Premises or Project (including parking areas) thereof, shall be lawfully taken for public or quasipublic use by a governmental authority under the power of eminent domain condemned or shall be conveyed to a governmental authority in lieu thereof (or conveyed under threat of such taking, and if such taking or conveyance shall cause condemnation), for any public or quasi-public use or purpose, the remaining part Term of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises or Project shall be taken or conveyed but the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to end upon and not before the part taken or conveyed as date of the date Tenant surrenders possession; Landlord shall make such repairs, alterations taking of possession by the condemning authority and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part without apportionment of the Premises so taken or conveyedaward. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value of Tenant's leasehold interest. All compensation awarded for such taking or conveyance shall be the property of Landlord without any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its rightTenant’s interest, title if any, in such award and interest in and to specifically agrees that any such awardaward shall be the entire property of Landlord in which Tenant shall not be entitled to share. HoweverTenant further waives any right to challenge the right of the condemning authority to proceed with such taking. Rent shall be apportioned as of the date of such termination. If any part of the Building not constituting a substantial part thereof, shall be so taken or condemned (or conveyed under threat of such taking or condemnation), or if the grade of any street adjacent to the Building is changed by any competent authority and such taking or change of grade makes it necessary or desirable to substantially remodel or restore the Building, Landlord shall have the right to cancel this Lease upon not less than ninety (90) days’ notice prior to the date of cancellation designated in the notice. No money or other consideration shall be payable by Landlord to Tenant for the right of cancellation, and Tenant shall have no right to share in any condemnation award or in any judgment for damages or in any proceeds of any sale made under any threat of condemnation or taking, In the event of such condemnation proceedings, Tenant shall have the right to recover from separately pursue its own award for the governmental authoritytaking of any of Tenant’s personal property, but not from Landlord, such compensation as may be awarded to Tenant on account of the interruption of Tenant's business, moving ’s business and relocation expenses and depreciation to and removal of Tenant's trade fixtures and personal propertyexpenses.
Appears in 1 contract
Eminent Domain. If 23.1 In the event the whole or any part of the Premises Premises, or Project (including parking areas) such part thereof as shall substantially interfere with the Tenant’s use and occupancy thereof, shall be taken for any public or quasipublic use quasi-public purpose by a governmental any lawful power or authority under by exercise of the power right of appropriation, condemnation or eminent domain domain, or shall be conveyed sold to a governmental authority in lieu of prevent such taking, and if Tenant or Landlord may terminate this Lease effective as of the date possession is required to be surrendered to said authority.
23.2 In the event of a partial taking of the Premises, or of drives, walkways or parking areas serving the Premises for any public or quasi-public purpose by any lawful power or authority by exercise of right of appropriation, condemnation, or eminent domain, or sold to prevent such taking or conveyance shall cause the remaining part taking, then, without regard to whether any portion of the Premises to be untenantable and inadequate for use occupied by Tenant for the purpose for which they were leasedwas so taken, then Tenant may, at its option, Landlord may elect to terminate this Lease as of the date Tenant is required such taking if such taking is, in Landlord’s sole opinion, of a material nature such as to surrender possession make it uneconomical to continue use of the Premises as a result unappropriated portion for purposes of such taking. If a part of the Premises renting office or Project laboratory space.
23.3 Tenant shall be taken or conveyed but entitled to any award that is specifically awarded as compensation for (a) the remaining part is tenantable and adequate for Tenant's use, then this Lease shall be terminated as to the part taken or conveyed as of the date Tenant surrenders possession; Landlord shall make such repairs, alterations and improvements as may be necessary to render the part not taken or conveyed tenantable; and the rent shall be reduced in proportion to the part of the Premises so taken or conveyed. Tenant shall not have the right to assert a claim against the governmental authority exercising its power of eminent domain based upon the value taking of Tenant's ’s personal property that was installed at Tenant’s expense and (b) the costs of Tenant moving to a new location and (c) lost profits, goodwill, and leasehold interestimprovements paid for by Tenant. All compensation awarded Except as set forth in the previous sentence, any award for such taking or conveyance shall be the property of Landlord without Landlord.
23.4 If, upon any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. However, Tenant shall have the right to recover from the governmental authority, but not from Landlord, such compensation as may be awarded to Tenant on account taking of the interruption nature described in this Section 23, this Lease continues in effect, then Landlord shall promptly proceed to restore the Premises to substantially their same condition prior to such partial taking. To the extent such restoration is feasible, as determined by Landlord in its reasonable discretion, the Rent shall be decreased by a number, the numerator of Tenant's businesswhich is the rental value of the Premises prior to such taking, moving and relocation expenses and depreciation to and removal the denominator of Tenant's trade fixtures and personal propertywhich is the value of the Premises after such taking.
Appears in 1 contract
Sources: Lease (Zosano Pharma Corp)
Eminent Domain. If the whole or any part a material portion of the Premises (or Project (including parking areas) shall be taken for public use or quasipublic use by a governmental authority under the power of eminent domain or shall be conveyed to a governmental authority in lieu of such taking, and if such taking or conveyance shall cause the remaining part occupancy of the Premises to be untenantable and inadequate for use by Tenant for the purpose for which they were leased, then Tenant may, at its option, terminate this Lease as of the date Tenant is required to surrender possession of the Premises as a result of such taking. If a part of the Premises Premises) or Project access thereto shall be taken or condemned by a governmental or quasi-governmental authority for any public or quasi-public use or purpose (including sale under threat of such a taking), or if the owner elects to convey title to the condemnor by a deed in lieu of condemnation, or if all or any portion of the Land or Building are so taken, condemned or conveyed but and as a result thereof, in Landlord’s reasonable judgment, the remaining part is tenantable and adequate Premises cannot be used for Tenant's use’s permitted use as set forth herein, then this Lease shall be terminated as to the part taken or conveyed cease and terminate as of the date Tenant surrenders possession; Landlord shall make when title vests in such repairs, alterations governmental or quasi-governmental authority and improvements as may be necessary to render the part not taken or conveyed tenantable; Fixed Rent and the rent Additional Rent shall be reduced abated on the date when such title vests in proportion to the part such governmental or quasi-governmental authority. If less than a material portion of the Premises so is taken or conveyed. Tenant shall not have the right to assert a claim against the condemned by any governmental or quasi-governmental authority exercising its power for any public or quasi-public use or purpose (including sale under threat of eminent domain based upon the value of such a taking), Fixed Rent and Tenant's leasehold interest. All compensation awarded for such taking or conveyance ’s Proportionate Share shall be equitably adjusted (on the property basis of Landlord without the number of square feet before and after such event) on the date when title vests in such governmental or quasi-governmental authority and this Lease shall otherwise continue in full force and effect. In any deduction therefrom for any present or future estate of Tenant and Tenant hereby assigns to Landlord all its right, title and interest in and to any such award. Howevercase, Tenant shall have no claim against Landlord for any portion of the right to recover from the governmental authority, but not from Landlord, such compensation as amount that may be awarded as damages as a result of any governmental or quasi-governmental taking or condemnation (or sale under threat or such taking or condemnation); and all rights of Tenant to damages therefor are hereby assigned by Tenant on account to Landlord. The foregoing shall not, however, deprive Tenant of any separate award for moving expenses, dislocation damages or for any other award which would not reduce the interruption of Tenant's business, moving and relocation expenses and depreciation award payable to and removal of Tenant's trade fixtures and personal propertyLandlord.
Appears in 1 contract
Sources: Lease Agreement (Repligen Corp)