Common use of Permanent Taking - When Lease Can Be Terminated Clause in Contracts

Permanent Taking - When Lease Can Be Terminated. If the whole of the Premises, or so much of the Premises or Project as to render the balance unusable by Tenant, shall be taken under the power of eminent domain, this Lease shall automatically terminate as of the date of final judgment in such condemnation, or as of the date possession is taken by the condemning authority, whichever is earlier. A sale by Landlord under threat of condemnation shall constitute a “taking” for the purpose of this Article 15. No award for any partial or entire taking shall be apportioned and Tenant assigns to Landlord any award which may be made in such taking or condemnation, together with all rights of Tenant to such award, including, without limitation, any award or compensation for the value of all or any part of the leasehold estate; provided that nothing contained in this Article 15 shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award made to Tenant for (a) the taking of Tenant's Personal Property, (b) interruption of or damage to Tenant's business, or (c) Tenant's unamortized cost of the Tenant Improvements to the extent paid for by Tenant. Furthermore, Tenant is granted the right to recover from the condemning authority one hundred percent(100%) (less applicable legal costs related to the recovery of same) of the value (if any) of the leasehold estate, which shall be equal to the difference between the rental rate payable under this Lease and the rate established by the condemning authority as an award for compensation purposes, together with any amount Tenant is able to obtain from the condemning authority attributable to Tenant's relocation expenses and to any other amounts specifically allocated or available to owners of leasehold estates under Applicable Laws. Further, no such taking of all or any portion of the Parking Garage and/or Xxxx’x Parking Deck shall entitle Tenant to terminate this Lease, if Landlord provides reasonable replacement parking within a reasonable period of time, not to exceed three (3) months from the date of taking or six (6) months after Landlord receives notice of the pending taking, whichever shall first occur.

Permanent Taking - When Lease Can Be Terminated. If the whole of the ----------------------------------------------- Premises, or so much of the Premises or Project as to render the balance unusable by Tenant, shall be taken under the power of eminent domain, this or if any such taking substantially impairs access to the Premises, then (a) in the case of total taking, the Lease shall automatically terminate as of the date of final judgment in such condemnation, or as of the date possession is taken by the condemning authority, whichever is earlier, and (b) in the case of partial taking, Tenant shall have he option to terminate this Lease upon one hundred eighty (180) days' notice, provided such notice is given no later than thirty days after the date of such taking. A sale by Landlord under threat of condemnation shall constitute a “"taking” " for the purpose of this Article 15Paragraph 16. No award for any partial or entire taking Landlord shall be apportioned and Tenant assigns entitled to Landlord any award which may be made in such taking or condemnation, together with all rights of Tenant to such award, including, without limitation, any the entire award or compensation for payment in connection with the value taking of all or any part of the Building and the leasehold estate; provided , except that nothing contained in this Article 15 (i) Tenant shall be deemed have the right to give Landlord file any interest in or to require Tenant to assign to Landlord any award made separate claim available to Tenant for (a) the any taking of Tenant's Personal Property, (b) for interruption of or damage to Tenant's business, or (c) for Tenant's unamortized cost of the Tenant Improvements to the extent paid for by Tenant. Furthermore, so long as such claim is separately payable to Tenant, and (ii) Tenant is granted the right shall be entitled to recover from the condemning authority one hundred percent(100receive fifty percent (50%) (less applicable legal costs related to the recovery of same) of the value (if any) "Bonus Value" of the leasehold estateestate in connection with this Lease, which Bonus Value shall be equal to the difference between the rental rate payable under this Lease and the rate established sum paid by the condemning authority as an the award for compensation purposes, together with any amount Tenant is able to obtain from for taking the condemning authority attributable to Tenant's relocation expenses and to any other amounts specifically allocated or available to owners of leasehold estates under Applicable Laws. Further, no such taking of all or any portion of the Parking Garage and/or Xxxx’x Parking Deck shall entitle Tenant to terminate created by this Lease, if Landlord provides reasonable replacement parking within a reasonable period . All Rent shall be apportioned as of time, not to exceed three (3) months from the date of taking such termination, or six (6) months after Landlord receives notice the date of such taking, as appropriate. If any part of the pending takingPremises shall be taken, whichever and this Lease shall first occurnot be so terminated, the Rent shall be proportionately abated.

Permanent Taking - When Lease Can Be Terminated. If the whole of the Premises, or so much of the Premises or Project as to render the balance unusable by Tenant, shall be taken under the power of eminent domain, this Lease shall automatically terminate as of the date of final judgment in such condemnation, or as of the date possession is taken by the condemning authority, whichever is earlier. A sale by Landlord under threat of condemnation shall constitute a “taking” for the purpose of this Article 15. No award for any partial or entire taking shall be apportioned and Tenant assigns to Landlord any award which may be made in such taking or condemnation, together with all rights of Tenant to such award, including, without limitation, any award or compensation for the value of all or any part of the leasehold estate; provided that nothing contained in this Article 15 shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award made to Tenant for (a) the taking of Tenant's ’s Personal Property, (b) interruption of or damage to Tenant's ’s business, or (c) Tenant's ’s unamortized cost of the Tenant Improvements to the extent paid for by Tenant. Furthermore, Tenant is granted the right to recover from the condemning authority one hundred percent(100%) (less applicable legal costs related to the recovery of same) of the value (if any) of the leasehold estate, which shall be equal to the difference between the rental rate payable under this Lease and the rate established by the condemning authority as an award for compensation purposes, together with any amount Tenant is able to obtain from the condemning authority attributable to Tenant's ’s relocation expenses and to any other amounts specifically allocated or available to owners of leasehold estates under Applicable Laws. Further, no such taking of all or any portion of the Parking Garage and/or Xxxx’x Parking Deck shall entitle Tenant to terminate this Lease, if Landlord provides reasonable replacement parking within a reasonable period of time, not to exceed three (3) months from the date of taking or six (6) months after Landlord receives notice of the pending taking, whichever shall first occur.

Permanent Taking - When Lease Can Be Terminated. If the whole of the Premises, or so much of the Premises or Project as to render the balance unusable by TenantXxxxxx, shall be taken under the power of eminent domain, this Lease shall automatically terminate as of the date of final judgment in such condemnation, or as of the date possession is taken by the condemning authority, whichever is earlier. A sale by Landlord under threat of condemnation shall constitute a “taking” for the purpose of this Article 1514. No Except as provided below, no award for any partial or entire taking shall be apportioned and Tenant assigns to Landlord any award which may be made in such taking or condemnation, together with all rights of Tenant to such award, including, without limitation, excluding any award or compensation for the value of all or any part of the leasehold estateestate (“Bonus Value”); provided that nothing contained in this Article 15 14 shall be deemed to give Landlord any interest in or to require Tenant to assign to Landlord any award award, and Tenant shall be able to retain any award, made to Tenant for (a) the taking of Tenant's Personal Property’s personal property, (b) interruption of or damage to Tenant's ’s business, (c) the Bonus Value, or (cd) Tenant's Xxxxxx’s unamortized cost of the Tenant Improvements (or applicable portion thereof) to the extent paid for by TenantXxxxxx. Furthermore, Tenant is granted the right to recover from the condemning authority one hundred percent(100%) (less applicable legal costs related to the recovery of same) of the value (if any) “Bonus Value” of the leasehold estate, which estate shall be equal to the difference between the rental rate payable under this Lease and the rate established by the condemning authority as an award for compensation purposes, together with any amount Tenant is able to obtain from the condemning authority attributable to Tenant's Xxxxxx’s relocation expenses and to any other amounts specifically allocated or available to owners of leasehold estates under Applicable Laws. Further, no such taking of all or any portion of the Parking Garage and/or Xxxx’x Parking Deck shall entitle Tenant to terminate this Lease, if Landlord provides reasonable replacement parking within a reasonable period of time, not to exceed three (3) months from the date of taking or six (6) months after Landlord receives notice of the pending taking, whichever shall first occurexpenses.