Common use of Permanent Taking Clause in Contracts

Permanent Taking. If (i) all of the Premises are covered by a condemnation, (ii) any part of the Premises is covered by a condemnation and the remainder thereof is insufficient for the reasonable operation therein of Tenant's business, (iii) as a result of the condemnation, Tenant no longer has. reasonable access to the Premises or Landlord is unable to provide the minimum number of parking spaces required by law or (iv) any of the part of the Premises is covered by a condemnation and, in Landlord's opinion, it would be impractical to restore the remainder thereof, then this Lease shall terminate and all obligations hereunder shall cease as of the date upon which possession is taken by the condemnor. If there is a condemnation and this Lease has not been terminated pursuant to this Section, the obligations of Landlord and Tenant shall be unaffected by such condemnation except that rent shall ▇▇▇▇▇ in proportion to the area, if any, of the Premises covered by such condemnation. Statutory provisions with respect to termination upon a partial taking of leased premises shall not be applicable to this Lease.

Permanent Taking. If (iI) all of the Premises are covered by a condemnation, (ii) any part pant of the Premises is covered by a condemnation and the remainder thereof is insufficient for the reasonable operation therein of Tenant's business, or (iii) as a result of the condemnation, Tenant no longer has. reasonable access to the Premises or Landlord is unable to provide the minimum number of parking spaces required by law or (iv) any of the part of the Premises Property is covered by a condemnation and, in Landlord's opinion, it would be impractical to restore the remainder thereof, then this Lease shall terminate and all obligations hereunder shall cease as of the date upon which possession is taken by the condemnor. If there is a condemnation and this Lease has not been terminated pursuant to this Section, the obligations of Landlord and Tenant shall be unaffected by such condemnation except that rent Rent shall ▇▇▇▇▇ in proportion to the area, if any, of the Premises covered by such condemnation. Statutory provisions with respect to termination upon a partial taking of leased premises shall not be applicable to this Lease.