Taking of Premises. If during the Term all of the Premises shall be taken for any public use under any statute or by right of eminent domain, or purchased under threat of each taking, this Lease shall automatically terminate on the date on which the condemning authority takes possession of the Premises (hereinafter called the “date of such taking”).
Taking of Premises. If all or any part of the Premises shall be taken by any public or quasi public authority as a result of the exercise of the power of eminent domain, this Lease shall terminate as to the part so taken as of the date of taking, and, in the case of partial taking, either Landlord or Tenant shall have the right to terminate this Lease as to the balance of the Premises by written notice to the other within thirty (30) days after the date of such taking; provided, however, that a condition to the exercise by Landlord or Tenant of such right to terminate shall be that the portion of the Premises taken shall, in Tenant's and Landlord's commercially reasonable judgment, be of such extent and nature as substantially to handicap, impede and impair Tenant's use of the balance of the Premises. If a material part of the Building or the Common Areas are condemned or taken, or if substantial alteration or reconstruction of the Building or Common Areas shall, in Landlord's reasonable opinion, be necessary as a result of such condemnation or taking, Landlord may terminate this Lease by written notice to Tenant within thirty (30) days after the date of taking. If a material part of the Building or the Common Areas are condemned or taken, and Tenant reasonably determines that it is unable to continue to operate the Premises in the same manner following such condemnation or taking, Tenant may terminate this Lease by written notice to Landlord within thirty (30) days after the date of taking.
Taking of Premises. If all or any portion of the Premises shall be taken by any public or quasi-public authority as a result of the exercise of the power of eminent domain (which shall include a voluntary sale or transfer by Landlord of all or any portion of the Premises under threat of condemnation), this Lease shall terminate as to the part so taken as of the date of taking, and, in the case of a partial taking which, in the reasonable judgment of Tenant, materially impairs Tenant's ability to conduct its business on the remainder of the Premises, Tenant shall have the right to terminate this Lease as to the remainder of the Premises by written notice given to Landlord within thirty (30) days after the date of such taking. If a material portion of the Building or the Project is taken or if substantial alteration or reconstruction of the Premises, the Building and/or the Project will, in Landlord's reasonable judgment, be necessary or desirable as a result of such condemnation or taking, Landlord may terminate this Lease by written notice given to Tenant within thirty (30) days after the date of such taking.
Taking of Premises. If all or any part of the Premises or the ------------------ Building is taken by means of (i) any taking by the exercise of the power of eminent domain, whether by legal proceedings or otherwise, (ii) a voluntary sale or transfer by Landlord to any condemnor under threat of condemnation or while legal proceedings for condemnation are pending, or (iii) any taking by inverse condemnation (a "Condemnation"), and any portion of the Premises or the Building 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 Tenant must be exercised within a reasonable period of time, to be effective as of the date that possession of the Premises is taken by the condemnor.
Taking of Premises. If the whole of the Premises or the Building is taken (which term, as used in this Article, shall include any conveyance in avoidance or settlement of eminent domain, condemnation or other similar proceedings) by any governmental authority, corporation or other entity under the right of eminent domain, condemnation or similar right, or if there shall occur any partial taking of the Premises or the Building such that Tenant cannot continue to conduct its business in a manner which Tenant deems desirable, then this Lease shall, at Tenant’s sole option, terminate as of the date of the taking of possession by the condemning authorities. Upon such termination, the net proceeds of any award received by reason of such taking shall, notwithstanding anything to the contrary in Section 10.2. be released first, to Tenant in an amount equal to the unamortized cost of the Improvements (assuming that the Improvements are amortized over the Term of the Lease). Except as otherwise provided herein, in the event of a taking, and whether or not this Lease is terminated, Tenant shall have no claim with respect to the award or payment for the value of the unexpired Term. Tenant may interpose and prosecute in any proceeding with respect to the taking (which, if permitted in the jurisdiction, shall be independent of any claim of Landlord) claims for the value of Tenant’s trade fixtures, damages for interruption or dislocation of business in the Premises and loss of goodwill, and moving and remodeling expenses. If such conditions to termination are not met, then this Lease shall continue in full force and effect, and in such event, the net proceeds of any award received by reason of such condemnation shall, notwithstanding any provision to the contrary in Section 10.2, be released first to Tenant to pay for the costs of repairing and reconstructing the Building and the Premises, including all other Improvements, alterations, fixtures and personal property of Tenant, with any balance of such award not needed by Tenant to repair and reconstruct released to Landlord. Following such a taking, the Base Rent shall be proportionally reduced to reflect the amount of the Premises so taken.
Taking of Premises. Landlord shall have the option to terminate this Lease if as a result of a taking by means of the exercise of the power of eminent domain (including a voluntary sale or transfer by Landlord to a condemnor under threat of condemnation),
Taking of Premises. (a) If any portion of the Premises shall be taken under the power of eminent domain by any public or quasi-public authority (a “taking”) and the Premises shall thereafter not be usable for the Permitted Use, 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 thirty (30) days after the effective date of the taking.
Taking of Premises. If the whole of the Premises shall be taken under the power of eminent domain, the Term shall cease as of the day possession shall be so taken. If any part of the Premises shall be taken under the power of eminent domain, and the portion remaining after the taking will not be adequate, in Lessee's reasonable judgment, for the operation of Lessee's business, Lessee shall have the right to elect either to terminate this Lease or to remain in possession of the remainder of the Premises not so taken.
Taking of Premises. 20 15.2 Partial Taking of Building.........................................................................20 15.3 Surrender..........................................................................................20 15.4
Taking of Premises. If the fee in the whole or any part of the demised premises shall be taken for any public or any quasi-public use under any statute or by right of eminent domain, or by conveyance to such public or quasi-public authority in liew thereof, then Landlord or Tenant may terminate this lease as of the date that title shall be so taken.
