Common use of Partial Permanent Clause in Contracts

Partial Permanent. In the event of a taking of less than the entire Property or, in the judgment of Tenant, less than a substantial portion as would render the balance of the Property not suitable for Tenant's use, Tenant shall be entitled to a reduction of Rent in such amount as shall be just and equitable. In consideration of such reduction of Rent, Tenant waives any claim for damage to or loss of its leasehold estate, all of such award being payable to Landlord, who shall use so much thereof as may be necessary to restore the Property as nearly as possible to its condition immediately prior to the taking. Tenant shall have the option to perform such restoration and Landlord shall upon Tenant's election provide the whole of such award or such portion thereof as may be necessary for Tenant to accomplish the restoration. Should such award be insufficient to accomplish the restoration, such additional costs shall be paid by Landlord. Notwithstanding any provision of the Lease or by operation of law that leasehold improvements may be or shall become the property of Landlord at the termination of the Lease, the loss of the building or other improvements paid for by Tenant and such additional relief as may be provided by law shall be the basis of Tenant's damages against the condemning authority if a separate claim therefor is allowable under applicable law, or the basis of Tenant's damages to a portion of the total award if only one award is made.