Substantial Portion. For all purposes of this Sublease, the term "SUBSTANTIAL PORTION" (i) any part of the building on the Subleased Premises, (ii) 10% OR MORE of the parking spaces on the Subleased Premises, (iii) 15% OR MORE of the land area demised as part of the Subleased Premises, (iv) any property which materially and adversely affects the direct access from the Subleased Premises to any adjacent street or highway, AND (iv) any portion of the land or improvements, the absence of which is reasonably likely to have a substantial impact on the business of Lessee conducted in, on, or from the Subleased Premises.
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Substantial Portion. In the event all or any portion of the Real Property is taken by condemnation or eminent domain or is the subject of a threatened or pending condemnation or eminent domain proceeding that has not been consummated prior to the Close of Escrow resulting in a decrease in the value of the Real Property in an amount in excess of One Hundred Thousand Dollars ($100,000), Buyer may elect to terminate this Agreement upon written notice to Seller given within ten (10) days after learning of such taking or proceeding, with the same effect as if terminated under Section 7.1.1. If Buyer elects not to terminate this Agreement as provided in the preceding sentence, the parties shall proceed to consummate this Agreement in which event Seller shall assign to Buyer at Close of Escrow its rights, if any, to all awards for such condemnation or taking.
Substantial Portion. For purposes of this Section 14, a Substantial Portion of the Property shall mean any taking or casualty loss which decreases the value of the Property by Fifty Thousand Dollars ($50,000.00) or more ("Substantial Portion"). If, within ten (10) business days after Seller's notice to Buyer described above, Seller and Buyer are unable to reasonably agree after good faith efforts upon whether the taking or casualty loss involves a Substantial Portion of the Property, then this Agreement shall be deemed null and void and the Earnest Money and all interest thereon shall be refunded to Buyex.
Substantial Portion. As used herein, the term “Substantial Portion” with respect to condemnation of or casualty loss to the Property shall mean and refer to a condemnation or casualty loss of all or a portion of the Property resulting in a material and adverse affect upon the development of the Property for commercial purposes consistent with the Draft Development Documents.
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