Taking: Lease to Continue. In the event only a part of the Premises shall be taken as a result of the exercise of the power of eminent domain or condemned for a public or quasi-public use or purpose by any competent authority or sold to the condemning authority under threat of condemnation, and as a result thereof the balance of the Premises can be used for the same purpose as before such taking, sale or condemnation, this Lease shall not terminate and Landlord, at its sole cost and expense, shall promptly repair and restore the Premises, subject to any Extension Events and the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such condemnation. Any Award paid as a consequence of such taking, sale, or condemnation, shall be paid to Landlord. Any sums not so disbursed shall be retained by Landlord.
Taking: Lease to Continue. In the event that only a part of a Property Location shall be taken as a result of a Condemnation, and Tenant reasonably estimates in the exercise of good faith business judgment that, as a result thereof, the remainder of such Property Location can be used for the same purpose and with substantially the same utility as before such Condemnation, this Lease shall not be modified and Tenant shall promptly repair and restore the remainder of such Property Location, subject to Force Majeure. In the event the proceeds of the Condemnation after deduction of any reasonable costs and expenses, if any, incurred by Tenant, Landlord or a Mortgagee in collecting the same (collectively, “Net Condemnation Proceeds”) are less than the Restoration Threshold, Landlord shall disburse, or cause to be disbursed, the Net Condemnation Proceeds to Tenant. In the event the Net Condemnation Proceeds are greater than the Restoration Threshold, Landlord shall use commercially reasonable efforts to disburse and/or cause Mortgagee to expeditiously disburse such Net Condemnation Proceeds upon Landlord being furnished with (a) evidence satisfactory to Landlord of the estimated cost of completion of the repair or restoration, (b) such architect’s certificates, waivers of lien, contractor’s sworn statements, mortgagee’s title insurance endorsements, bonds, plats of survey, permits, approvals, licenses and such other documents and items as Landlord may reasonably require and approve in Landlord’s reasonable discretion, and (c) all plans and specifications for such repair or restoration, such plans and specifications to be approved by Landlord prior to commencement of any work, which approval shall not be unreasonably withheld, conditioned or delayed; provided, that, in any event, Landlord shall use commercially reasonable efforts to diligently provide or cause Mortgagee to diligently provide its written approval or disapproval (with reasons of sufficient specificity to allow Tenant to correct the reasonable objection) following Landlord’s receipt of such plans and specifications. Landlord may, at Tenant’s reasonable expense, retain a consultant to review and approve all requests for disbursements, which approval shall not be unreasonably withheld, conditioned or delayed; provided, that, in any event, Landlord shall use commercially reasonable efforts to cause the consultant to diligently provide its written approval or disapproval (with reasons of sufficient specificity to allow Tenant to ...
Taking: Lease to Continue. Except as provided in Section 13.1, in the event only a part of the Premises shall be taken as a result of the exercise of the power of eminent domain or condemned for a public or quasi-public use or purpose by any competent authority or sold to the condemning authority under threat of condemnation, and as a result thereof the balance of the Premises can be used for the same purpose as before such taking, sale or condemnation, this Lease shall not terminate and Landlord shall promptly repair and restore the Premises, subject to Force Majeure Delays; provided that in no event shall Landlord be obligated to spend in excess of the amount of the Award in restoring the Premises. In the event of a minor taking for road widening (or similar) no restoration shall be required. Any award paid as a consequence of such taking, sale or condemnation, shall be paid to Landlord. Any sums not so disbursed shall be retained by Landlord. In the event of a partial taking of the Building there shall be an equitable adjustment of the Base Rent.
Taking: Lease to Continue. In the event only a part of the Premises shall be taken as a result of the exercise of the power of eminent domain or condemned for a public or quasi public use or purpose by any competent authority or sold to the condemning authority under threat of condemnation, and, as a result thereof, the balance of the Premises can be used for the same purpose and with substantially the same utility as before such taking, sale or condemnation, this Lease shall not terminate and Tenant shall, to the extent practical, promptly repair and restore the Premises, subject to Force Majeure. Landlord shall make the condemnation proceeds available to Tenant for such repair and restoration upon the same terms and conditions as Restoration Funds are made available under Article 14 above. Any award paid as a consequence of such taking, sale or condemnation, shall be paid to Landlord and any sums not disbursed by Landlord to Tenant in connection with the repair or restoration of the Premises shall be retained by Landlord. In the event of such a partial taking where the Lease is not terminated as provided in Section 15.01, Rent shall be adjusted on a fair and equitable basis.
Taking: Lease to Continue. If a portion of the Project shall be lawfully taken or condemned for any public or quasi public use or purpose or conveyed under threat of such condemnation and neither Landlord nor Tenant terminates this Lease (nor has the Lease terminated on its terms) as permitted by Section 13.1 or as a result of such taking, sale or condemnation, the 992596_11 15 remainder of the Premises can be used for the same purpose as before such taking, sale or condemnation, this Lease shall not terminate. However, in the event the cost of restoring the Premises for such use will exceed the condemnation award, Landlord will advise Tenant of the estimated amount of such excess cost, and Tenant shall have fifteen (15) days to elect whether to terminate this Lease or pay the excess amount for restoration of the Premises. If Tenant elects to continue this Lease, Tenant shall deposit such excess funds with Landlord and Landlord shall promptly (subject to Force Majeure Delay and Landlord's receipt of condemnation proceeds) repair and restore the remainder of the Premises. Tenant hereby assigns to Landlord, Tenant's interest, if any, in such award for the value of the Premises; provided that Tenant shall have the right to pursue compensation for any costs of renovating or reconfiguring its operations within the Premises.
Taking: Lease to Continue. In the event only a part -------------------------- of the Premises shall be taken as a result of the exercise of the power of eminent domain or condemned for a public or quasi-public use or purpose by any competent authority or sold to the condemning authority under threat of condemnation, and as a result thereof the balance of the Premises can be used for the same purpose as before such taking, sale or condemnation, this Lease shall not terminate and Landlord, at its sole cost and expense up to the amount of any condemnation award, shall, to the extent practical, promptly repair and restore the Premises, subject to extension due to delay because of changes, deletion or additions, acts of Tenant, strikes, lockouts, casualties, acts of God, war, fuel or energy shortages, material or labor shortages, governmental regulation or control, severe weather conditions or other causes beyond the actual control of Landlord and Landlord's receipt of insurance proceeds. Any award paid as a consequence of such taking, sale or condemnation, shall be paid to Landlord. Any sums not so disbursed shall be retained by Landlord. In the event of a taking of land only, this Lease shall not terminate and Landlord shall not be obligated to repair or restore the Premises.
Taking: Lease to Continue. In the event only a part of the Premises shall be taken as a result of the exercise of the power of eminent domain or condemned for a public or quasi-public use or purpose by any competent authority or sold to the condemning authority under threat of condemnation, and as a result thereof the balance of the Premises can be used for the same purpose as before such taking, sale or condemnation, this Lease shall not terminate and Landlord, at its sole cost and expense, shall, to the extent practical, promptly repair and restore the Premises, subject to any Extension Events. Any Award paid as a consequence of such taking, sale, or condemnation, shall be paid to Landlord. Any sums not so disbursed shall be retained by Landlord. In the event of a taking of land only, this Lease shall not terminate and Landlord shall not be obligated to repair or restore the Premises.
Taking: Lease to Continue. In the event only a part -------------------------- of the Premises shall be taken as a result of the exercise of the power of eminent domain or condemned for a public or quasi-public use or purpose by any competent authority or sold to the condemning authority under threat of condemnation, and as a result thereof the balance of the Premises can be used for the same purpose as before such taking, sale or condemnation, this Lease shall not terminate and Landlord, at its sole cost and expense up to the amount of any condemnation Award, shall promptly repair and restore the Premises, subject to extension due to delay because of changes, deletion or additions, acts of Tenant, strikes, lockouts, casualties, acts of God, war, fuel or energy shortages, material or labor shortages, governmental regulation or control, severe weather conditions or other causes beyond the actual control of Landlord and Landlord's receipt of insurance proceeds. Any Award paid as a consequence of such taking, sale or condemnation, shall be paid to Landlord. Any sums not so disbursed shall be retained by Landlord.
Taking: Lease to Continue. If a portion of the Premises shall be lawfully i I taken or condemned for any public or quasi public use or pUipose or conveyed under threat ofsuch i condemnation and Landlord or Tenant does not terminate the Lease as permitted by Section 13.1 or !.. as a result of such taking, sale or condemnation, the Premises can be used for the same purpose as before such talcing, sale or condemnation, this Lease shall not terminate. In such event, Landlord., at its sole cost and expense up to the amount of any award, shall, to the extent practical, promptly (subject to extension due to delay because ofmatters beyond the control ofLandlord and Landlord's receipt of condemnation proceeds) repair and restore the Premises. Any award paid as a consequence of such taking, sale or condemnation, shall be paid to Landlord and any sums not disbursed by Landlord in connection with the repair or restoration ofthe Premises shall be retained by Landlord; provided, however, any compensation specifically and independently awarded to Tenant for loss ofbusiness or goodwill, relocation expenses or for its personal property shall be the property of Tenant. In the event of a talcing of any portion of land only that does not materially adversely affect Tenant's operations in the Premises, this Lease shall not terminate and Landlord ·shall not be obligated to repair or restore the Premises. Rent shall xxxxx based upon the portion of the Premises subject to condemnation. ARTICLE XIV -
Taking: Lease to Continue. In the event that less than twenty-five percent (25%) of the usable square footage of the building located on the Premises shall be taken as a result of the exercise of the power of eminent domain or condemned for a public or quasi-public use or purpose by any competent authority or sold to the condemning authority under threat of condemnation, and as a result thereof the balance of the Premises can be used for the same purpose as before such taking, sale or condemnation, this Lease shall not terminate and Landlord, at its sole cost and expense, shall, to the extent practical, promptly repair and restore the Premises, subject to any Extension Events. Any Award paid as a consequence of such taking, sale, or condemnation, shall be paid to Landlord. Any sums not so disbursed shall be retained by Landlord. In the event of a taking of land only, this Lease shall not terminate and Landlord shall not be obligated to repair or restore the Premises. In the event that more than twenty-five (25%) percent of the usable square footage of the building located on the Premises shall be taken as a result of the exercise of the power of eminent domain or condemned for a public or quasi-public use or purpose by any competent authority or sold to the condemning authority under threat of condemnation, then Tenant shall have the right to terminate this Lease. Tenant's right to terminate shall be exercised by written notice to Landlord given not less than ten (10) days after Landlord shall have given Tenant written notice of the actual occurrence of an event giving rise to Tenant's right to terminate the Lease under this Section 14.2 and the effective date of such Lease termination shall be the date upon which the transferee of the condemned portion of said building has the right to possession thereof.
