Partial Taking; Common Areas Clause Samples

Partial Taking; Common Areas. 24.2.2.1 If any portion of the Premises is taken by Condemnation, this Lease shall remain in effect, except that Tenant shall have the right to elect to terminate this Lease if forty percent (40%) or more of the rentable square footage of the Premises is taken, or if the portion taken renders the remainder of the Premises economically unusable by Tenant, as determined by condemning authority. To be effective, such election to terminate must be made by written notice delivered to Landlord within twenty (20) days after Tenant's obtaining knowledge of the impending acquisition of such portion of the Premises by Condemnation. Tenant shall be deemed to have knowledge of such impending acquisition if Tenant enters into negotiations with the Condemnor's representatives, on receipt of service of complaint and summons or order for immediate possession, or on receipt of a letter of inquiry from Landlord advising Tenant of the impending acquisition and requesting notice of Tenant's resulting elections and contentions. Tenant's notice shall contain a clear and unequivocal statement of its election to terminate, and its reasons for this election. 24.2.2.2 If any part of the common areas of the Facility is taken by Condemnation, this Lease shall remain in full force and effect so long as there is no material interference with the access to the Premises. If such a Taking materially interferes with access to the Premises, either party shall have the election to terminate this Lease pursuant to this Section 24. 24.2.2.3 If forty percent (40%) or more of the Building or the Facility is taken by Condemnation (whether or not any Portion of the Premises shall have been taken), Landlord shall have the election to terminate this Lease in the manner prescribed herein.

Partial Taking; Common Areas. (a) If any portion of the Leased Premises is taken by Condemnation, this Lease shall remain in effect, except that Lessee can elect to terminate this Lease if thirty-three and one-third percent (33-1/3%) or more of the total number of square feet in the Leased Premises is taken. (b) If any part of the Common Areas of the Complex is taken by Condemnation and as a consequence thereof, the Complex is not in compliance with applicable governmental codes and requirements, then Lessor shall have the election to terminate this Lease pursuant to this Section. (c) If fifty percent (50%) or more of the Building in which the Leased Premises are located is taken, Lessor shall have the election to terminate this Lease in the manner prescribed herein.

Partial Taking; Common Areas