Taking of Leased Premises. A. If more than twenty-five percent (25%) of the Floor Area of the Leased Premises shall be appropriated or taken under the power of eminent domain, or conveyance shall be made in anticipation or in lieu thereof (“Taking”), either party may terminate this Lease as of the effective date of the Taking by giving notice to the other party of such election within thirty (30) days prior to the date of such Taking.
Taking of Leased Premises. If all or any part of the Leased Premises exceeding twenty-five percent (25%) of such Leased Premises are taken by means of:
Taking of Leased Premises. If during the Term, all or a substantial part of the Leased Premises are taken for any public or any quasi-public use under any statute or by right of expropriation, or purchased under threat of such taking, this Lease shall, at the option of the Landlord, automatically terminate on the date on which the condemning authority takes possession of the Leased Premises (the “date of taking”).
Taking of Leased Premises. If all or any part of the Leased Premises is taken by means of (a) any taking by the exercise of the power of eminent domain, whether by legal proceedings or otherwise, (b) a voluntary sale or transfer by Landlord to any condemnor under threat of condemnation or while legal proceedings for condemnation are pending, or (c) any taking by inverse condemnation (a "Condemnation"), then Landlord shall have the option to terminate this Lease. If all or any part of the Leased Premises are taken by Condemnation and the Leased Premises cannot be reconstructed within a reasonable period of time and thereby made reasonably suitable for Tenant's continued occupancy for the Permitted Use, then Tenant shall have the option to terminate this Lease. Any such option to terminate by either Landlord or Tenant must be exercised within a reasonable period of time, not to exceed 20 days after notice of the taking, to be effective as of the date that possession of the Leased Premises is taken by the condemnor.
Taking of Leased Premises. If the whole of the Leased Premises shall be taken or condemned by any competent authority for any public use or purpose under any statute or by right of eminent domain, or by a private purchase in lieu thereof under threat of such eminent domain proceedings (any such matter being hereinafter referred to as a “Taking”), then in either of such events, this Land Lease shall expire on the date Lessee is required to vacate the Leased Premises either by the condemning authority or by Operation of Law and the Rent shall be prorated as of that date (subject to all obligations of Lessee which survive the termination of the Lease). If part of the Leased Premises shall be taken or condemned and the part so taken includes or any material portions of the Leased Premises or Improvements or as a result of such partial taking, the Leased Premises are not suitable for the operation of the Lessee Business, then, and in any such event, Lessee may elect to terminate this Land Lease as of the date possession shall be taken by such condemning authority (subject to all obligations of Lessee which survive the termination of the Lease). Such notice of election to terminate shall be given in writing to Lessor within sixty (60) days of notice to Lessee of such Taking. If Lessee shall not terminate this Land Lease, or if such partial Taking does not provide Lessee with such option, the Fixed Rent for the balance of the term of this Land Lease and Lessee’s Share of Pass Through Costs shall be reduced in an equitable manner and Lessee shall be entitled to reimbursement for the costs required to restore the Leased Premises and Improvements and Equipment only from Lessee’s portion of the condemnation award as provided under Section 13.2 below; provided, however, any insufficiency of such reimbursement shall not limit or affect any of Lessee’s obligations under the Land Lease.
Taking of Leased Premises. In the event of a taking of the whole or any part of the Leased Premises, so as to render the Leased Premises economically unsuitable for the permitted uses, the Tenant shall have the right to terminate this Lease upon written notice to the other party within forty (40) days after receiving knowledge of the taking. Should the Tenant elect to terminate this Lease, the Lease term shall cease as of the day the public authority takes physical possession of the Leased Premises. If, following a taking, this Lease shall continue in effect as to any portion of the Leased Premises, the Tenant's rent shall be reduced by the proportion which the floor area of the Leased Premises taken bears to the initial floor area of the Leased Premises. Any compensation award for any taking shall be the property of Landlord.
Taking of Leased Premises. If all of the Leased Premises ------------------------- shall be taken for any public or quasi-public use under any statute or by right of eminent domain, or purchased under threat of such taking, this Lease shall automatically terminate on the date on which the condemning authority takes possession of the Leased Premises (the "Date of Taking"). If so much of the Leased Premises (but less than all) is taken as shall render the Leased Premises untenantable, Tenant shall have the right to terminate within thirty (30) days after the Date of Taking.
Taking of Leased Premises. (a) If more than fifty percent (50%) of the floor space of the Premises shall be appropriated or taken under the power of eminent domain by any public or quasi-public authority, or conveyance shall be made in anticipation thereof, (each being hereinafter referred to as a "taking"), either party shall have the right to terminate the Lease as of the date physical possession of the property taken is delivered to the condemning authority (hereinafter referred to as the "effective date of the taking") by giving notice to the other party of such election within thirty (30) days after the effective date of the taking.
Taking of Leased Premises. A. If (i) any portion of the Leased Premises or (ii) any portion of the Common Areas which is necessary to provide access to visibility of or parking for the Leased Premises, shall be taken under the power of eminent domain by any public or quasi-public authority (a "taking"), either party shall have the right to terminate this Lease as of the date physical possession of the property taken is delivered to the condemning authority (hereinafter referred to as the "effective date of the taking") by giving notice to the other party of such election within forty-five (45) days after the receipt of notice of the taking.
Taking of Leased Premises. If all or any part of the Leased Premises or more than twenty-five percent (25%) of the Common Area is taken by means of (a) any taking by the exercise of the power of eminent domain, whether by legal proceedings or otherwise, (b) a voluntary sale or transfer by Landlord to any condemnor under threat of condemnation or while legal proceedings for condemnation are pending, or (c) any taking by inverse condemnation (a “Condemnation”), then Landlord shall have the option to terminate this Lease. If all or any part of the Leased Premises or Common Area are taken by Condemnation and the Leased Premises or Common Area cannot be reconstructed within one hundred and eighty (180) days and thereby made reasonably suitable for Tenant’s continued occupancy for the Permitted Use, then Tenant shall have the option to terminate this Lease. Any such option to terminate by either Landlord or Tenant must be exercised within a reasonable period of time, not to exceed 20 days after notice of the taking, to be effective as of the date that possession of the Leased Premises is taken by the condemnor.
