PARTIAL. If twenty-five percent (25%) or more of the gross leasable area of the Demised Premises shall be so taken, then either Landlord or Tenant shall have the right to terminate this Lease by notice given to the other party within sixty (60) days after the date of title vesting in such proceeding. If any part of the Demised Premises shall be so taken and this Lease shall not be terminated, as aforesaid, then this Lease and all of the terms and provisions hereof shall continue in full force and effect, except that the Fixed Minimum Rent shall be reduced in the same proportion that the gross leasable area of the Demised Premises taken bears to the original gross leasable area of the Demised Premises, and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs and alterations (exclusive of Tenant's trade and lighting fixtures, furniture, furnishings, personal property, decorations, signs and contents) to restore the portion of the Demised Premises remaining to as near its former condition as the circumstances will permit, and to the building of which the Demised Premises form a part to the extent necessary to constitute the portion of the building not so taken a complete architectural unit; provided, however, that Landlord in any event, shall not be required to spend for such repairs and alterations an amount in excess of the respective amounts received by Landlord as damages for the taking of such part of the Demised Premises and of the building of which they form a part, and Tenant, at Tenant's expense, shall make all necessary repairs and alterations to Tenant's trade and lighting fixtures, furniture, furnishings, personal property, decorations, signs and contents.
Appears in 1 contract
Sources: Lease Agreement (Digital Cinema Destinations Corp.)
PARTIAL. If twenty-five percent (25%) or more of the gross leasable area GLA of the Demised Premises shall be so taken, then either Landlord or and Tenant shall each have the right to terminate this Lease by written notice given to the other party within sixty (60) days after the date of title vesting in such proceedingproceedings. If any part of the Demised Premises shall be so taken and this Lease shall not be terminated, as aforesaid, then this Lease and all of the terms and provisions hereof thereof shall continue in full force and effect, except that the Fixed Minimum Rent shall be reduced in the same proportion that the gross leasable area GLA of the Demised Premises taken bears to the original gross leasable area of the Demised PremisesGLA demised, and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs and or alterations (exclusive of Tenant's trade and lighting fixtures, furniture, furnishings, personal property, decorations, signs and contents) to restore the portion of the Demised Premises remaining to as near its former condition as the circumstances will permit, and to the building of which the Demised Premises form forms a part to the extent necessary to constitute the portion of the building not so taken to a complete architectural unit; provided, however, that Landlord Landlord, in any event, shall not be required to spend for such repairs repair and alterations alteration work an amount in excess of the respective amounts received by Landlord as damages for the taking of such part of the Demised Premises and of the building of which they form it forms a part, ; and Tenant, at Tenant's expense, shall make all necessary repairs and alterations to Tenant's trade and lighting fixtures, furniture, furnishings, personal property, decorationsdecoration, signs and contents.
Appears in 1 contract
PARTIAL. If twenty-five percent (25%) or more In the event that any portion of the gross leasable area Premises, the Allocated Parking, the Building, the Property, or COUNTY’s access thereto, is taken by Condemnation and COUNTY determines, in its commercially reasonable discretion, that COUNTY is unable to conduct its operations at the Premises as a result of such partial taking, COUNTY shall have right, at its option, to terminate the Lease by providing LANLDORD with notice to be given within thirty (30) days after COUNTY’s receipt of the Demised Premises shall be so takenCondemnation Notice from LANDLORD, then either Landlord or Tenant shall have the right if LANDLORD fails to terminate this Lease by notice given to the other party provide COUNTY with a Condemnation Notice, within sixty thirty (6030) days after the date of title vesting in such proceedingthe condemning authority takes possession. If any part of COUNTY does not exercise its right to terminate the Demised Premises shall be so taken and this Lease shall not be terminatedas provided herein, as aforesaid, then this the Lease and all of the terms and provisions hereof shall continue in full force and effect, except that if a portion of the Fixed Minimum Premises was taken, the Premises shall be reduced by the portion taken and the Monthly Rent and any other sums due under the Lease shall be reduced in the same proportion that as the gross leasable floor area of the Demised Premises taken bears to the original gross leasable floor area of the Demised PremisesPremises and if the Allocated Parking, and Landlord shallCOUNTY’s access, upon receipt or other portions of the award in condemnation, make all necessary repairs and alterations (exclusive of Tenant's trade and lighting fixtures, furniture, furnishings, personal property, decorations, signs and contents) to restore the portion Property affecting COUNTY’s use of the Demised Premises remaining to as near its former condition as was partially taken, the circumstances will permitMonthly Rent and other sums due shall be equitably adjusted. In addition, and to the building of which the Demised Premises form a part LANDLORD shall to the extent necessary to constitute the portion of proceeds of the building not condemnation award payable to Landlord are available and paid to Landlord, diligently restore the remainder of the improvements on the Premises so taken far as practicable to a complete architectural unit; provided, however, unit of like quality and condition to that Landlord in any event, shall not be required which existed immediately prior to spend for such repairs and alterations an amount in excess of the respective amounts received by Landlord as damages for the taking of such part of the Demised Premises and of the building of which they form a part, and Tenant, at Tenant's expense, shall make all necessary repairs and alterations to Tenant's trade and lighting fixtures, furniture, furnishings, personal property, decorations, signs and contentstaking.
Appears in 1 contract
Sources: Lease Agreement
PARTIAL. If twenty-five percent (25%) or more of the gross leasable area of the Demised Premises shall be so taken, then either Landlord or Tenant shall have the right to terminate this Lease by notice given to the other party within sixty (60) days after the date of title vesting in such proceeding. If any part of the Demised Premises shall be taken as aforesaid, and such partial taking shall render that portion not so taken and this Lease shall not be terminated, as aforesaidunsuitable for the business of Tenant, then this Lease and all the term herein shall cease and terminate as aforesaid. If such partial taking is not extensive enough to render the premises unsuitable for the business of the terms and provisions hereof Tenant, then this Lease shall continue in full force and effect, effect except that the Fixed Minimum Rent rent shall be reduced in the same proportion that the gross leasable floor area of the Demised Premises taken bears to the original gross leasable floor area of the Demised Premises, demised and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs and repair or alterations (exclusive of Tenant's trade and lighting fixtures, furniture, furnishings, personal property, decorations, signs and contents) to restore the portion of the Demised Premises remaining to as near its former condition as the circumstances will permit, and to the building of in which the Demised Premises form a part to the extent necessary are located so as to constitute the portion of the building not so taken a complete architectural unit; provided, however, that but such work shall not exceed the scope of the work to be done by Landlord in originally constructing said building. nor shall Landlord in any event, shall not event be required to spend for such repairs and alterations work an amount in excess of the respective amounts amount received by Landlord as damages for the taking of such part of the Demised Premises so taken. "Amount received by Landlord" shall mean that part of the award in condemnation which is free and clear to Landlord of any collection by mortgages for the value of the diminished fee; (c) if more than twenty (20%) percent of the floor area of the building of in which they form a partthe Demised Premises are located shall be taken as aforesaid, and Landlord may. by written notice to Tenant, at Tenant's expenseterminate this Lease, such termination to be effective as aforesaid; (d) if this Lease Is terminated as provided In this paragraph, the rent shall be paid up to the day that possession is taken by public authority and Landlord shall make an equitable refund of any rent paid by Tenant in advance; (e) Award: Tenant shall not be entitled to and expressly waives all necessary repairs and alterations claim to Tenant's trade and lighting fixtures, furniture, furnishings, personal property, decorations, signs and contents.any
Appears in 1 contract
PARTIAL. If twenty-five percent (25%) or more any part of the gross leasable area of the Demised Premises leased premises shall be so takentaken and such partial taking shall render that portion not so taken unsuitable for the purposes for which the leased premises were leased, then either Landlord or Tenant LANDLORD and TENANT shall each have the right to terminate this Lease lease by written notice given to the other party within sixty (60) days after the date of title vesting in such proceeding. If any part of the Demised Premises leased premises shall be so taken and this Lease lease shall not be terminated, as aforesaid, then this Lease lease and all of the terms and provisions hereof thereof shall continue in full force and effect, except that the Fixed Minimum Rent maximum guaranteed annual rent shall be reduced in the same proportion that the gross leasable area of the Demised Premises leased premises taken bears to the original gross leasable area of the Demised Premisesleased and, and Landlord LANDLORD shall, upon receipt of the award in condemnation, make all necessary repairs and alterations (exclusive of Tenant's trade and lighting TENANT'S furnishings, fixtures, furniture, furnishings, personal property, decorations, signs equipment and contentssigns) to restore the portion of the Demised Premises leased premises remaining to as near its former condition as the circumstances will permit, and to the building of which the Demised Premises form leased premises forms a part to the extent necessary to constitute the portion of the building not so taken a complete architectural unit; provided, however, that Landlord in any event, shall not be required to spend for such repairs and alterations an amount in excess of the respective amounts received by Landlord as damages for the taking of such part of the Demised Premises and of the building of which they form a part, and TenantTENANT, at Tenant's TENANT'S expense, shall make all necessary repairs and alterations to Tenant's trade and lighting TENANT'S furnishings, fixtures, furniture, furnishings, personal property, decorations, signs equipment and contents.signs. LANDLORD_______________ TENANT ________________
Appears in 1 contract
PARTIAL. If twenty-five percent (25%) or more any part of the gross leasable area of the Demised Premises shall be taken by eminent domain and such partial taking shall render that portion not so takentaken unsuitable for the purposes for which the Premises were leased, then either Landlord or and Tenant shall each have the right to terminate this Lease by written notice given to the other party within sixty thirty (6030) days after the date notice of title vesting in such proceedingtaking. If any part of the Demised Premises shall be so taken and this Lease shall not be terminated, terminated as aforesaid, then this Lease and all of the terms and provisions hereof shall continue in full force and effect, except that the Fixed Minimum Rent and Tenant’s Proportionate Share of Common Area Costs and Tenant’s Proportionate Share of real estate taxes shall be reduced in the same proportion that the gross leasable floor area of the Demised Premises taken (including basement and mezzanine space, if any) bears to the original gross leasable floor area of the Demised Premisesdemised, and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs and or alterations (exclusive of Tenant's ’s trade and lighting fixtures, furniture, furnishings, personal property, decorations, signs and contents) to restore the portion of the Demised Premises remaining to as near its former condition as the circumstances will permit, and to the building of which the Demised Premises form a part Shopping Center to the extent necessary to constitute the portion of the building Shopping Center not so taken a complete architectural unit; provided, however, that Landlord Landlord, in any event, shall not be required to spend for such repairs repair and alterations alteration work an amount in excess of the respective amounts received by Landlord as damages for the taking of such part of the Demised Premises and of the building of which they form a partShopping Center, and Tenant, at Tenant's ’s expense, shall make all necessary repairs and alterations to Tenant's ’s trade and lighting fixtures, furniture, furnishings, personal property, decorations, signs and contents.
Appears in 1 contract
PARTIAL. If twenty-five percent (25%) or more In the event that any portion of the gross leasable area Premises, the Allocated Parking, the Building, the Property, or COUNTY’s access thereto, is taken by Condemnation and COUNTY determines, in its sole discretion, that COUNTY is unable to conduct its operations at the Premises as a result of such partial taking, COUNTY shall have right, at its option, to terminate the Lease by providing LANLDORD with notice to be given within thirty (30) days after COUNTY’s receipt of the Demised Premises shall be so takenCondemnation Notice from LANDLORD, then either Landlord or Tenant shall have the right if LANDLORD fails to terminate this Lease by notice given to the other party provide COUNTY with a Condemnation Notice, within sixty thirty (6030) days after the date of title vesting in such proceedingthe condemning authority takes possession. If any part of COUNTY does not exercise its right to terminate the Demised Premises shall be so taken and this Lease shall not be terminatedas provided herein, as aforesaid, then this the Lease and all of the terms and provisions hereof shall continue in full force and effect, except that if a portion of the Fixed Minimum Premises was taken, the Premises shall be reduced by the portion taken and the Monthly Rent and any other sums due under the Lease shall be reduced in the same proportion that as the gross leasable floor area of the Demised Premises taken bears to the original gross leasable floor area of the Demised Premises and if the Allocated Parking, COUNTY’s access, or other portions of the Property affecting COUNTY’s use of the Premises was partially taken, the Monthly Rent and other sums due shall be equitably adjusted. In addition, LANDLORD shall within thirty (30) days make all repairs or alterations to the Premises, Building, and Landlord shall, upon receipt Property required as a result of the award in condemnation, make all necessary repairs and alterations (exclusive of Tenant's trade and lighting fixtures, furniture, furnishings, personal property, decorations, signs and contents) Condemnation to restore the portion remaining portions thereof to substantially the same conditions as existing immediately prior to the Condemnation and in accordance with the provisions of the Demised Premises remaining to as near its former condition as the circumstances will permit, and to the building of which the Demised Premises form a part to the extent necessary to constitute the portion of the building not so taken a complete architectural unit; provided, however, that Landlord in any event, shall not be required to spend for such repairs and alterations an amount in excess of the respective amounts received by Landlord as damages for the taking of such part of the Demised Premises and of the building of which they form a part, and Tenant, at Tenant's expense, shall make all necessary repairs and alterations to Tenant's trade and lighting fixtures, furniture, furnishings, personal property, decorations, signs and contentsLease.
Appears in 1 contract
Sources: Lease Agreement
PARTIAL. (a) If twenty-five percent (25%) the Leased Premises should be damaged by fire, tornado or more of the gross leasable area of the Demised Premises shall other casualty but not to such an extent that rebuilding or repairs cannot reasonably be so taken, then either Landlord or Tenant shall have the right to terminate this Lease by notice given to the other party completed within sixty (60) 180 working days after from the date of title vesting in such proceeding. If any part the occurrence of the Demised Premises shall be so taken and damage, this Lease shall not terminate, but Landlord shall, if the casualty has occurred prior to the final 180 days of the lease term, at its sole cost and risk, proceed forthwith to rebuild or repair the Leased Premises to substantially the condition existing prior to such damage. If the casualty occurs during the final 180 days of the Lease term, Landlord shall not be terminatedrequired to rebuild or repair such damage unless Tenant notifies Landlord in writing within 60 days following the date of such damage that Tenant is exercising its right to renew this lease or its option to purchase the Leased Premises, as aforesaidthe case may be. If Tenant does not exercise its right to renew this Lease or its option to purchase the Leased Premises and if Landlord does not elect to rebuild or repair such damage, then this Lease and all lease shall terminate, effective as of the terms date of said damage. If the Leased Premises are to be rebuilt or repaired and provisions hereof are untenantable in whole or in part following such damage, the rents payable hereunder during the period in which it is untenantable shall continue be adjusted equitably.
(b) Notwithstanding anything in full force and effectthis Section which might be deemed to be the contrary, except that the Fixed Minimum Rent shall be reduced in the same proportion that the gross leasable area of the Demised Premises taken bears to the original gross leasable area of the Demised Premises, and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs and alterations (exclusive of Tenant's trade and lighting fixtures, furniture, furnishings, personal property, decorations, signs and contents) to restore the portion of the Demised Premises remaining to as near its former condition as the circumstances will permit, and to the building of which the Demised Premises form a part to the extent necessary to constitute the portion of the building not so taken a complete architectural unit; hereinafter provided, however, that Landlord in any event, shall not be required to spend for such repairs and alterations an any amount in excess of the respective amounts received by insurance proceeds made available to Landlord in connection with the rebuilding or repair of the Leased Premises. In the event the insurance proceeds available to Landlord are insufficient for such purpose, Landlord shall so notify Tenant in writing. In such event Landlord may elect not to rebuild or repair the Leased Premises and to terminate the lease effective as of the date of such damage unless, Tenant notifies Landlord in writing, within 30 days after Tenant's receipt of the notice from Landlord as damages for to the taking insufficient insurance proceeds, that Tenant will pay all of the repair costs in excess of such part of insurance proceeds. If Tenant so notifies Landlord, Landlord shall proceed with due diligence to rebuild and/or repair the Demised Leased Premises and of to substantially the building of which they form a part, and Tenant, at Tenant's expense, shall make all necessary repairs and alterations condition existing prior to Tenant's trade and lighting fixtures, furniture, furnishings, personal property, decorations, signs and contentssuch damage.
Appears in 1 contract
Sources: Lease Agreement (Cavalier Homes Inc)
PARTIAL. If twenty-five percent (25%) percent or more of the gross leasable area of the Demised Premises shall be so taken, then either Landlord or Tenant shall have the right to terminate this Lease by notice given to the other party within sixty (60) days after the date of title vesting in such proceeding. If any part of the Demised Premises shall be so taken and this Lease shall not be terminated, as aforesaid, then this Lease and all of the terms and provisions hereof shall continue in full force and effect, except that the Fixed Minimum Rent shall be reduced in the same proportion that the gross leasable rentable area of the Demised Premises taken bears to the original gross leasable rentable area of the Demised Premises, and Landlord shall, upon receipt of the award in condemnation, make all necessary repairs and alterations (exclusive of Tenant's property, including trade and lighting fixtures, furniture, furnishings, personal property, decorations, signs and contents) to restore the portion of the Demised Premises remaining to as near to its former condition conditions as the circumstances will permit, and to the building of which the Demised Premises form a part Building to the extent necessary to constitute the portion of the building Building not so taken a complete architectural unit; provided, however, that Landlord Landlord, in any event, shall not be required to spend for such repairs and alterations an amount in excess of the respective amounts amount received by Landlord as damages for the taking of such part of the Demised Premises and of the building of which they form a partPremises, and Tenant, at Tenant's expense, shall make all necessary repairs and alterations to Tenant's property, including trade and lighting fixtures, furniture, furnishings, personal property, decorations, signs and contents. As used herein, the amount received by Landlord shall mean that portion of the award in condemnation received by Landlord as damages from the condemning authority which is free and clear of all ground or underlying lessors, and less reasonable attorneys' and appraisers' fees and expenses. If more than fifty (50%) percent of the rentable area of either the Building or the Commercial Center shall be taken as aforesaid, Landlord shall have the right, by notice given to Tenant, to terminate this Lease, such termination to be effective as of the date of title vesting in such proceedings. If, as a result of any taking, the remaining parking areas equal or exceed seventy-five (75%) percent of the parking areas as the same existed prior to such taking, Tenant shall not be entitled to compensation, diminution or abatement of any rents or other charges or sums reserved hereunder, nor shall the same be deemed an actual or construction evidence. If as a result of such taking the remaining parking areas are reduced below seventy-five (75%) percent of the parking areas as the same existed prior to such taking, Landlord shall have the right, to supply substitute parking facilities on the property of Landlord or within reasonable proximity to the Commercial Center. If Landlord shall be unable to replace or substitute any such parking facilities so taken to comply with the provisions of the preceding sentence, then Landlord or Tenant shall have the right and option to cancel and terminate this Lease within ninety (90) days after the taking by giving the other party thirty (30) days' written notice; and in such event, this Lease shall cease and terminate upon the expiration of said thirty (30) days and neither party thereafter shall have any further rights and obligations as against the other. If, pursuant to the preceding sentence, neither party shall have so cancelled and terminated this Lease, then Tenant shall not be entitled to compensation, diminution or abatement of any rents, charges or other sums reserved hereunder, nor shall the failure to replace or substitute any such parking facilities so taken be deemed an actual or constructive eviction.
Appears in 1 contract