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.
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Samples: www.sec.gov, Industrial Building Lease (Phoenix Container, Inc.), Industrial Building Lease (Phoenix Container, Inc.)
Taking: Lease to Continue. In the event only a part of the Premises shall be taken as a as 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.
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