Common use of Partial Condemnation of Parking Area Clause in Contracts

Partial Condemnation of Parking Area. If any part of the Parking Area shall be acquired or condemned by eminent domain for any public or quasi-public use or purpose and if, as the result of such partial taking the ratio of square feet of Parking Area to square feet of the sales floor area of the Entire Premises is reduced to a ratio below that permitted by law, then the Lease shall cease and terminate from the date possession or title is given to such condemning authority in such proceeding, unless Landlord shall provide reasonable evidence of its ability to increase the parking ratio to a permitted ratio or Landlord can provide substitute parking either in or outside the Entire Premises, in which event this Lease shall be unaffected and remain in full force and effect as between the parties.

Appears in 4 contracts

Samples: Union Landing Entertainment Center Lease (Cinemark Holdings, Inc.), Promenade Lease (Cinemark Holdings, Inc.), Union Landing Entertainment Center Lease (Cinemark Holdings, Inc.)

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