Common use of Taking Clause in Contracts

Taking. If all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant is required to vacate the portion of the Premises so taken. If this Lease is so terminated, all Base and Additional Rent shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restore, to the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to taking.

Appears in 2 contracts

Sources: Office Lease Agreement (F5 Networks Inc), Office Lease Agreement (F5 Networks Inc)

Taking. If all the Premises, or such portion thereof as to render the balance (when reconstructed) unsuitable for the purposes of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment opinion of the Landlord, a taking shall be taken by condemnation or right of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable)eminent domain, the Lease may, at the option of either party, be terminated by upon written notice given to the other party other, shall be entitled to terminate this Lease, provided that such notice is given not more later than thirty (30) days after Landlord gives the Tenant written notice has been deprived of possession. For the purposes of this Article, any deed or other transfer of title in lieu of any such taking shall be treated as such a taking. Moreover, for the purposes of this Article, such a taking of the takingTenant's entire leasehold interest hereunder in the Premises (or assignment or termination in lieu thereof) shall be treated as a taking of the entire Premises, and in such termination event the Tenant shall be treated as having been deprived of possession on the effective as of the date when Tenant is required to vacate the portion thereof. Should any part of the Premises be so taken. If taken or condemned, and should this Lease is lease not be terminated in accordance with the foregoing provision, the Landlord covenants and agrees within a reasonable time after such taking or condemnation, and the determination of the Landlord's award therein, to expend so terminated, all Base and Additional Rent much as may be necessary of the net amount which may be awarded to the Landlord in such condemnation proceedings in restoring the Premises to an architectural unit as nearly like their condition prior to such taking as shall be paid practicable. Should the net amount so awarded to the date Landlord be insufficient to cover the cost of termination. Whenever any portion restoring the Premises, as estimated by the Landlord's architect, the Landlord may, but shall not be obligated to, supply the amount of such insufficiency and restore the Premises is taken by Eminent Domain and this Lease is not terminatedas above provided, Landlord shall at its expense proceed with all reasonable dispatch diligence, or terminate this lease. Where the Tenant has not already exercised any right of termination accorded to restoreit under the foregoing portion of this paragraph, the Landlord shall notify the Tenant of the Landlord's election not later than ninety (90) days after the final determination of the amount of the award. Further, if so much of the Commercial Unit shall be so taken that continued operation of the Commercial Unit as operated prior to the extent taking would be uneconomic in the Landlord's judgment or prohibited by zoning or other applicable law or by or pursuant to applicable provisions of available proceeds issued from the taking governmental authority and Condominium Documents or the Land Disposition Agreement, the Landlord shall have the right to terminate this lease by giving notice to the extent it is reasonably prudent Tenant of the Landlord's desire so to do so, not later than thirty (30) days after the remainder effective date of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to taking.

Appears in 2 contracts

Sources: Office Lease (Paratek Pharmaceuticals, Inc.), Office Lease (Paratek Pharmaceuticals, Inc.)

Taking. If all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base Rent and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, If a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or Tenant, in the cost reasonable judgment of restoration of the Premises is not commercially reasonable)Landlord, the Lease maythis Lease, at the option of either party, may be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant is required to vacate the portion of the Premises so taken. If this Lease is so terminated, all Base Rent and Additional Rent shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restore, to the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base Rent and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area rentable area taken bears to the total Rentable Area rentable area of the Premises prior to taking.

Appears in 1 contract

Sources: Office Lease (Interactive Objects Inc)

Taking. If all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant is required to vacate the portion of the Premises so taken. If this Lease is so terminated, all Base and Additional Rent shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restore, to the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to taking.,

Appears in 1 contract

Sources: Lease Agreement (Eden Bioscience Corp)

Taking. If all of In the Premises are taken by Eminent Domain, this Lease shall terminate as of event the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking whole or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises Parking Area shall be taken by Eminent Domain renders the remainder thereof unusable for the business right of Tenant eminent domain or any similar authority of law (or the cost of restoration of the Premises is not commercially reasonablea “Taking”), the Lease entire award for the value of the land and improvements so taken shall belong to the fee title owner of the subject property or portion thereof so taken or to such fee title owner’s mortgagees or tenants, as their interest may appear, and no other Owner shall have a right to claim any portion of such award by virtue of any interest created by this Agreement. Any Owner who is not the fee title owner of the property which is the subject of a Taking may, at however, file a collateral claim with the option condemning authority over and above the value of either party, be terminated by written notice given the land and improvements being so taken to the other party not more than thirty (30) days after Landlord gives Tenant written notice extent of any damage suffered by such Owner resulting from the severance of the takingland or improvements so taken if such claim shall not operate to reduce the award allocable to the property taken. Notwithstanding the foregoing, and such termination shall be effective as in the event of the date when Tenant is required to vacate the a Taking of a portion of the Premises so taken. If this Lease Parking Area and such portion is so terminatednot required for reasonable access to and use of the remaining Parking Area, all Base the Manager shall restore the improvements located on the Parking Area as nearly as possible to the condition existing prior to the Taking and Additional Rent any portion of any condemnation award necessary therefor shall be paid to the date Manager and held in trust and applied for such purpose, and the balance, if any, shall be paid to the Owner; provided, however, that the Manager shall in no event be obligated to undertake any restoration except to the extent that funding for such restoration is readily available from the proceeds of terminationany condemnation award. Whenever any In the event of a Taking of all or a portion of the Premises Parking Area and such portion is taken by Eminent Domain and this Lease is not terminated, Landlord shall at its expense proceed with all required for the reasonable dispatch to restore, to the extent use of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises Parking Area or such portion is required for reasonable access to the condition they were in immediately prior to such takingParking Area, and Tenant then this Agreement shall at its expense proceed with terminate effective as of the day possession of all reasonable dispatch to restore its personal property and all improvements made by it to or a portion of the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder Parking Area shall be reduced from taken by the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to takingcondemning authority.

Appears in 1 contract

Sources: Parking Easement Agreement

Taking. If all In case the whole of the Premises are taken by Eminent DomainPremises, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any such part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration Building as shall substantially interfere with Tenant’s use and occupancy of the Premises is not commercially reasonable)Premises, shall be taken (whether permanent or temporarily for a period that exceeds 30 days) by any lawful power or authority by exercise of the Lease mayright of eminent domain, at the option of either partyor sold to prevent such taking, be terminated by written notice given to the other party not more than thirty within sixty (3060) days after Landlord gives Tenant written receipt of notice of the such taking, and such termination shall be either Tenant or Landlord may terminate this Lease effective as of the date when Tenant possession is required to vacate the be surrendered to said authority. If a portion of the Premises Building or Property is so taken. If taken or sold in lieu thereof, which renders the Building or Property economically unviable for its use as presently intended, or requires cancellation of substantially all tenant leases in the Building, or any Landlord’s Mortgagee requires that Landlord terminate this Lease, this Lease is so terminatedmay be terminated by Landlord, all Base and Additional Rent shall be paid to as of the date of termination. Whenever any portion the vesting of title under such taking or sale, by written notice to Tenant within sixty (60) days following notice to Landlord of the Premises is taken by Eminent Domain date on which said vesting will occur. Tenant shall not because of such taking assert any claim against Landlord, any Landlord’s Mortgagee or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant. In the event this Lease is not terminatedterminated pursuant to this Section 14.1, Landlord shall at its expense proceed with all reasonable dispatch restore the Premises, the Building and the Property to restoresubstantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the extent time during which, and to the part of available proceeds issued the Premises, the Common Area and/or the Parking Facility of which, Tenant is actually deprived of normal and customary use on account of such taking and restoration in substantially the same manner as before the taking and restoration. Notwithstanding the foregoing, during any Rent abatement under this Lease, Tenant shall continue to be obligated to pay Landlord for all services and utilities provided to and used by Tenant, if any, during the period of the Rent abatement. Nothing contained in this Section shall be deemed to give Landlord any interest in, or prevent Tenant from seeking a separate award against the taking authority for, the taking of personal property and fixtures belonging to Tenant or for relocation or business interruption expenses recoverable from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to takingauthority.

Appears in 1 contract

Sources: Office Lease (BigCommerce Holdings, Inc.)

Taking. If all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any substantial part of the Premises shall be taken for any public or quasi-public use under governmental law or by Eminent Domain renders right of eminent domain and such taking would materially interfere with the remainder thereof unusable for the business of Tenant (or the cost of restoration use of the Premises is not commercially reasonable)by Tenant for the purposes contemplated by this Lease, then the Lease may, at the option of either party, may be terminated by written notice given to either Landlord or Tenant. Landlord or Tenant shall make such election by giving the other party not more than written notice within sixty (60) days after the event giving rise to a right to terminate. Any such termination shall be effective thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant is required to vacate of notice thereof and in the portion case where all or substantially all of the Premises so taken. If this Lease is so terminated, all Base and Additional Rent shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and or when Landlord terminates this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restoreLease, to the extent that Landlord pays to each Mortgagee any amount necessary, when added to any condemnation award which Tenant is entitled to retain, will be sufficient to pay-off the then existing outstanding principal indebtedness then owed to such Mortgage. If any taking materially interferes with Tenant’s use and occupation of available proceeds issued any part of the Premises, a just portion of the rent shall be abated from the taking governmental authority date the Premises or such lesser part are rendered unusable until the date when the Premises (or in the case of a partial taking, what remains thereof) shall be put in proper condition for use and occupation. Tenant shall receive a permanent abatement of rent to the extent it is reasonably prudent to do so, the remainder that all or any part of the Premises cannot be so used and occupied for the balance of theTerm. Landlord reserves all rights to damages payable by reason of anything lawfully done in pursuance of any public or other authority and, by way of confirmation, Tenant grants to Landlord all of Tenant’s rights to such damages and agrees to execute and deliver such further instruments of assignment thereof as Landlord may from time to time request, provided, however, that Tenant reserves for itself any award specifically reimbursing Tenant for moving or relocation expenses and any other award the payment of which does not diminish the amount otherwise payable to Landlord. Tenant shall also be entitled to share in the award proportionately to the condition they were in immediately prior to such taking, and unamortized value of any lease improvements constructed by Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it pursuant to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area terms of the Premises prior to takingthis Lease.

Appears in 1 contract

Sources: Lease Agreement

Taking. If all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "“Eminent Domain" ” shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant is required to vacate the portion of the Premises so taken. If this Lease is so terminated, all Base and Additional Rent shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restore, to the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do soproceeds, the remainder of the Premises to the condition they were in immediately prior to such taking, including the Landlord’s Work and Tenant’s Work described in the Work Letter, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements and alterations other than the Tenant’s Work made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to taking.

Appears in 1 contract

Sources: Commercial Lease (Blue Nile Inc)

Taking. If (a) In the event all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders Mortgaged Property shall be damaged or taken as a result of a Taking, either temporarily or permanently, Agency and Mortgagor shall assign, transfer and set over unto Mortgagee the remainder thereof unusable Taking Proceeds or any claim for the business of Tenant (or the cost of restoration damages for any of the Premises is not commercially reasonable), taken or damaged under the Lease may, at the option power of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the takingeminent domain, and such termination shall be effective as of agrees that in the date when Tenant is required to vacate event the portion of the Premises so taken. If this Lease is so terminated, all Base and Additional Rent shall be paid to the date of termination. Whenever whole or any portion part of the Premises is taken by Eminent Domain eminent domain proceedings, then all sums awarded as damages for the Taking shall be applied in reduction of the indebtedness secured by this Mortgage, but without imposition of the prepayment premium to such application. Any and this Lease is all costs and expenses, including, without limitation, reasonable attorneys' fees and expenses to the fullest extent not terminatedthen prohibited by applicable law, Landlord incurred by Mortgagee by reason of any condemnation, threatened condemnation or proceedings thereunder shall be secured hereby and Mortgagor shall reimburse Mortgagee therefor immediately, or Mortgagee shall have the right, at its expense proceed with all reasonable dispatch to restoreoption, to deduct such costs and expenses from any Taking Proceeds paid to Mortgagee hereunder. In the extent of available proceeds issued event that the Premises is wholly condemned, Mortgagee shall receive from Mortgagor and Agency and/or from the taking governmental authority and Taking Proceeds, payment of the entire amount of the indebtedness secured by this Mortgage. Notwithstanding anything in the foregoing to the extent it contrary, if there is reasonably prudent to do sono Event of Default, the remainder Mortgagor may repair or replace the Mortgaged Property with the replacement or repair to be conducted, and the proceeds to be disbursed, in accordance with the Mortgagee's customary construction loan practices and requirements. (b) Subject to paragraph (a) of this Section, Agency and Mortgagor will immediately notify Mortgagee of the Premises actual or threatened commencement of any Taking proceedings affecting all or any part of the Premises, including any easement therein or appurtenance thereof, including severance and consequential damage and change in grade of streets, and will deliver to Mortgagee copies of any and all papers served in connection with any such proceedings. Agency and Mortgagor further covenant and agree to make, execute and deliver to Mortgagee, from time to time upon request, free, clear and discharged of any encumbrances of any kind whatsoever, any and all further assignments or other instruments deemed necessary by Mortgagee for the purpose of validly and sufficiently assigning the Taking Proceeds and all other awards and compensation heretofore and hereafter to be made to Agency and Mortgagor, including the assignment of any award from the United States Government at any time after the allowance of the claim therefor, the ascertainment of the amount thereof and the issuance of the warrant for payment thereof, for any Taking, either permanent or temporary, under any such proceedings. In the event of a Taking, Mortgagee shall not be limited to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made rate of interest paid on the award by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder condemning authority but shall be reduced from entitled to receive out of the date Tenant Taking Proceeds interest on the entire unpaid principal sum under the Note and the other Loan Documents at the applicable rate(s) provided therein. Agency and Mortgagor hereby assigns to Mortgagee so much of the balance of the Taking Proceeds payable by the condemning authority as is required to partially vacate the Premises pay such interest. (c) Notwithstanding anything in the same proportion that the Rentable Area taken bears foregoing to the total Rentable Area contrary, if there is no Event of Default and provided that Mortgagor provides evidence satisfactory to Mortgagee showing that Mortgagor and the Mortgaged Property will be financially viable following repair or replacement, the Mortgagor may repair or replace the Mortgaged Property with the replacement or repair to be conducted, and the proceeds of the Premises prior insurance to takingbe disbursed, in accordance with the Mortgagee's customary construction loan practices and requirements.

Appears in 1 contract

Sources: Mortgage and Security Agreement (Mapinfo Corp)

Taking. If all In case the whole of the Premises are Subleased Premises, or such part thereof or of the Building Property as shall substantially interfere with Subtenant’s use and occupancy thereof, shall be taken by Eminent Domain, this Lease shall terminate as any lawful power or authority by exercise of the date Tenant is required right of eminent domain, or sold to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the prevent such taking, and such termination shall be effective as if the Prime Lease is terminated pursuant to its terms or the terms of the date when Tenant is required Prime Landlord’s Consent with respect to vacate the portion of the Prime Lease Premises so takenthat includes the Subleased Premises, then this Sublease shall thereupon terminate. If Except as expressly permitted by the terms of this Lease is so terminatedSublease or the Prime Landlord’s Consent, all Base and Additional Rent (i) Subtenant shall be paid to the date not because of termination. Whenever such taking assert any portion of the Premises is taken by Eminent Domain and this Lease is not terminatedclaim against Sublandlord, Prime Landlord shall at its expense proceed with all reasonable dispatch to restore, to the extent of available proceeds issued from or the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder for any compensation because of the Premises to the condition they were in immediately prior to such taking, and Tenant (ii) Sublandlord or Prime Landlord, in accordance with the Prime Lease, shall at its expense be entitled to receive the entire amount of any award without deduction for any estate or interest of Subtenant. Subtenant shall have no claim against Sublandlord or Prime Landlord for the value of any unexpired portion of the Term of this Sublease, other than for prepaid Rent. If the amount of property or the type of estate taken shall not substantially interfere with Subtenant’s use of the Subleased Premises and neither this Sublease or the Prime Lease is terminated, Sublandlord or Prime Landlord, in accordance with the Prime Lease, shall be entitled to the entire amount of the award without deduction for any estate or interest of Subtenant and in such event, Sublandlord or Prime Landlord, in accordance with the Prime Lease and Prime Landlord’s Consent, shall promptly proceed with all reasonable dispatch to restore its the Subleased Premises to substantially their condition prior to such partial taking, and the Rent shall be abated in proportion to the time during which, and to the part of the Subleased Premises of which, Subtenant shall be so deprived on account of such taking and restoration. Nothing contained in this Article 13 shall be deemed to give Sublandlord or Prime Landlord any interest in, or prevent Subtenant from seeking any award against the taking authority for, the taking of personal property and all improvements made by it fixtures belonging to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced Subtenant or for relocation or business interruption expenses recoverable from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to takingtaking authority.

Appears in 1 contract

Sources: Sublease (New Century Financial Corp)

Taking. If all any material portion of the Project shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or sold to prevent such taking to such an extent as to render untenantable the entirety of the Premises are taken or such a material portion of the Premises that Tenant's operation from the remainder of the Premises is not reasonably practicable as reasonably determined by Eminent Domainthe parties, either party shall have the right to terminate this Lease shall terminate effective as of the date Tenant possession is required to vacate be surrendered to said authority by written notice to the Premises and other party by the effective date of such taking. If all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders shall be taken, and if such taking is permanent, the remainder thereof unusable for term of this Lease shall automatically terminate with respect to the business of Tenant (or the cost of restoration part of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective so taken as of the date when the possession of such part is required. Tenant is required shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, other than a claim for any separate award attributable to vacate the portion value of any personal property or trade fixtures of Tenant which are taken, costs of Tenant's relocation, and Tenant hereby assigns to Landlord all of Tenant's interest in, and Landlord shall be entitled to receive, the entire amount of any other award without deduction for any estate or interest of Tenant (including, without limitation, any award attributable to the value of the remaining Term of this Lease). If neither Tenant nor Landlord so elects to terminate, Landlord shall, to the extent of proceeds received, commence to restore the Premises to substantially their same condition prior to such partial taking, and a proportionate abatement shall be made to Tenant for the Monthly Base Rent and Tenant's obligation for payment of Tenant's Expenses Excess corresponding to the time during which, and to the part of the Premises so taken. If this Lease is so terminatedof which, all Base and Additional Rent Tenant shall be paid to so deprived on account of such taking and restoration; provided that if during the date progress of termination. Whenever any Landlord's restoration work the balance of the Premises cannot reasonably be used by Tenant for the operation of its business, then Monthly Base Rent and Tenant's Expenses Excess shall abate until that remaining portion of the Premises is taken again u▇▇▇▇▇ by Eminent Domain and Tenant. Nothing contained in this Lease is not terminated, Section 12.1 shall be deemed to give Landlord shall at its expense proceed with all reasonable dispatch any interest in any award made to restore, to the extent of available proceeds issued from Tenant for the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its Tenant's personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area trade fixtures or for Tenant's costs of the Premises prior to takingrelocation.

Appears in 1 contract

Sources: Office Lease (Spatialight Inc)

Taking. If all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord▇▇▇▇▇▇▇▇, a taking of any part of the Premises by Eminent Domain Domain, or a taking of part or all of the parking for the Project, renders the Premises or any remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises or the parking is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant is required to vacate the portion of the Premises so taken. If this Lease is so terminated, all Base and Additional Rent shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restore, to the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate Vacate the Premises in the same proportion that the Rentable Area Square Footage taken bears to the total Rentable Area Square Footage of the Premises prior to taking.

Appears in 1 contract

Sources: Master Lease (Tripath Imaging Inc)

Taking. If all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "“Eminent Domain" ” shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant is required to vacate the portion of the Premises so taken. If this Lease is so terminated, all Base and Additional Rent shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restore, to the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to taking.

Appears in 1 contract

Sources: Office Lease Agreement (F5 Networks Inc)

Taking. If all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base Minimum and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant is required to vacate the portion of the Premises so taken. If this Lease is so terminated, all Base Minimum and Additional Rent shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restore, to the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base Minimum and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to taking.

Appears in 1 contract

Sources: Lease Agreement (Sonosight Inc)

Taking. If all any material portion of the Project shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or sold to prevent such taking to such an extent as to render untenantable the entirety of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, such a taking of any part material portion of the Premises by Eminent Domain renders that Tenant's operation from the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable)reasonably practicable as reasonably determined by the parties, either party shall have the right to terminate this Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant possession is required to vacate be surrendered to said authority by written notice to the portion other party by the effective date of such taking. Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, other than a claim for any separate award attributable to the value of any personal property or trade fixtures of Tenant which are taken, costs of Tenant's relocation, and Tenant hereby assigns to Landlord all of Tenant's interest in, and Landlord shall be entitled to receive, the entire amount of any other award without deduction for any estate or interest of Tenant (including, without limitation, any award attributable to the value of the Premises so takenremaining Lease Term of this Lease). If this Lease is neither Tenant nor Landlord so terminated, all Base and Additional Rent shall be paid elects to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and this Lease is not terminatedterminate, Landlord shall at its expense proceed with all reasonable dispatch to restoreshall, to the extent of available proceeds issued from received, commence to restore the taking governmental authority Premises to substantially their same condition prior to such partial taking, and a proportionate allowance shall be made to Tenant for the Monthly Base Rent and Tenant's obligation for payment of Tenant's Expenses Excess corresponding to the time during which, and to the extent it is reasonably prudent to do so, the remainder part of the Premises to the condition they were in immediately prior to such takingof which, and Tenant shall at its expense proceed with all reasonable dispatch be so deprived on account of such taking and restoration. Nothing contained in this Section 12.1 shall be deemed to restore its give Landlord any interest in any award made to Tenant for the taking of Tenant's personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area trade fixtures or for Tenant's costs of the Premises prior to takingrelocation.

Appears in 1 contract

Sources: Office Lease (Raptor Pharmaceutical Corp)

Taking. If all a material portion of the Premises are taken is taken, either permanently or temporarily, by Eminent Domaineminent domain or condemnation and as a result of such taking the Tenant can no longer reasonably use the Premises for its intended purpose, this Lease shall automatically terminate as of the date title vests in the condemning authority, and Tenant is required to vacate the Premises and shall pay all Base Rent, Additional Rent, and Additional Rent shall be paid other payments up to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of If any part of the Premises is permanently taken, or if access to the by Eminent Domain renders Tenant is, by virtue of a taking, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the remainder thereof unusable for the business of Tenant right (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, to be terminated exercised by written notice given to the other party not more than thirty within sixty (3060) days after Landlord gives Tenant written receipt of notice of the said taking, and such termination shall be effective as of ) to terminate this Lease from the date when Tenant possession is required taken thereunder pursuant to vacate such proceeding or purchase. If neither party elects to terminate this Lease, as aforesaid, then Landlord shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion of the Premises not taken so taken. If this Lease is so terminated, all Base and Additional Rent shall be paid as to render same into an architectural whole to the date of termination. Whenever fullest extent reasonably possible, and, if any portion of the Premises is taken by Eminent Domain and this Lease is not terminatedtaken, Landlord thereafter the Base Rent shall at its expense proceed with all reasonable dispatch to restore, be reduced (on a per square foot basis) in proportion to the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder portion of the Premises taken. If there is a temporary taking involving the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access to the condition they were in immediately prior to such takingBuilding and Premises, then this Lease shall not terminate, and Tenant Landlord shall repair and restore, at its expense proceed with all reasonable dispatch own expense, the portion not taken so as to restore its personal property and all improvements made by it render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises to was taken, thereafter the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises (on a per square foot basis) in the same proportion that the Rentable Area taken bears to the total Rentable Area portion of the Premises prior to takingtaken.

Appears in 1 contract

Sources: Deed of Lease (Alliance Bankshares Corp)

Taking. If all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, If a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant is required to vacate the portion of the Premises so taken. If this Lease is so terminated, all Base and Additional Rent shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restore, to the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to taking.

Appears in 1 contract

Sources: Lease Agreement (Applied Microsystems Corp /Wa/)

Taking. (i) If all of prior to the Premises are taken by Eminent DomainClosing Date any Material Taking occurs, then Purchaser may terminate this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated Agreement by written notice given to the other party not more than thirty Seller within twenty (3020) days after Landlord gives Tenant written Seller has given Purchaser the notice of the taking, Material Taking (and such termination the Closing Date shall be effective so extended as applicable), in which case the parties shall have no further obligations to each other hereunder except as specifically provided herein. (ii) If prior to Closing, any Non-Material Taking occurs, then the Closing shall take place without abatement of the date when Tenant is required Purchase Price, but Seller shall assign to vacate Purchaser at the portion Closing all of Seller’s interest in any condemnation award which may be payable to Seller on account of any such Non-Material Taking and at Closing, Seller shall credit to the amount of the Premises so takenPurchase Price payable by Purchaser the amount, if any, of condemnation proceeds received by Seller between the Effective Date and the Closing less (x) any amounts reasonably expended by Seller in collecting such sums; (y) any amounts reasonably expended by Seller to repair the Property as a result of such Non-Material Taking; and (z) any amounts which are reasonably allocated to lost earnings or other damages or losses (other than unrepaired property damages) reasonably allocated or attributed to the period of time prior to Closing. If this Lease is so terminatedFor purposes of Section 12.2 hereof, all Base estimates of costs and Additional Rent time required for restoration or repair shall be paid made by an architect or engineer, as appropriate, designated by Seller and reasonably acceptable to Purchaser. The provisions of Section 12.2 hereof constitute an express agreement to the date contrary of termination. Whenever any portion Section 5-1311 of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restore, New York General Obligations Law. All risk of loss or damage to the extent of available proceeds issued Property, including loss or damage resulting from casualty, condemnation, eminent domain and any business interruption resulting therefrom, attributable to any acts or occurrences on or after the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder Closing Date shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to takingborne solely by Purchaser.

Appears in 1 contract

Sources: Asset Purchase and Sale Agreement (Marriott International Inc /Md/)

Taking. If all there shall be a total taking of the Premises are taken Building in condemnation proceedings or by Eminent Domainany right of eminent domain, this Lease and the Term and estate hereby granted shall terminate as of the date Tenant is required to vacate of taking of possession by the Premises condemning authority and all Base Rent and Additional Rent under Article 4 shall be prorated and paid to that as of such termination date. The term "Eminent Domain" If there shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, be a taking of (x) at least forty percent (40%) of the Building or (y) any material (in Landlord’s reasonable judgment) portion of the Land or the Building, including at least forty percent (40%) of the Premises, then in either such case Landlord may terminate this Lease and the Term and estate granted hereby by giving notice to Tenant within sixty (60) days after the date of taking of possession by the condemning authority, provided that Landlord shall concurrently terminate the leases covering at least 75% of the rentable area of the Building (including the Premises). If there shall be a taking of the Premises of such scope (but in no event less than forty percent (40%) of the Premises) that the untaken part of the Premises would in Tenant’s reasonable judgment be uneconomic to operate, then Tenant may terminate this Lease and the Term and estate granted hereby by Eminent Domain renders the remainder thereof unusable for the business of Tenant giving notice to Landlord within sixty (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (3060) days after the date of taking of possession by the condemning authority. If either Landlord gives or Tenant written shall give a termination notice of as aforesaid, then this Lease and the taking, Term and such termination estate granted hereby shall be effective terminate as of the date when Tenant is required to vacate of such notice and all Base Rent and Additional Rent under Article 4 shall be prorated and paid as of such termination date. In the portion event of a taking of the Premises so taken. If which does not result in the termination of this Lease is so terminated, (i) the Term and estate hereby granted with respect to the taken part of the Premises shall terminate as of the date of taking of possession by the condemning authority and all Base Rent and Additional Rent under Article 4 shall be paid appropriately abated for the period from such date to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain Expiration Date and this Lease is not terminated, (ii) Landlord shall at its expense proceed with all reasonable dispatch to restore, to perform the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is work required to partially vacate the Premises be performed by Landlord pursuant to Section 23.04 of this Lease. “Condemnation” shall mean a total or partial taking in the same proportion that the Rentable Area taken bears to the total Rentable Area condemnation or by right of the Premises prior to takingeminent domain.

Appears in 1 contract

Sources: Lease (KCG Holdings, Inc.)

Taking. (a) If all or part of the Leased Premises is proposed to be taken as a result of any action or proceeding in eminent domain or is proposed to be transferred in lieu of condemnation to any authority entitled to exercise the power of eminent domain (collectively, a “Taking”), Landlord shall provide Tenant with reasonable advance notice of any and all impending proceedings or meetings related to such Taking, and Leasehold Mortgagee shall have the right to participate in any such meetings and proceedings. Should title or possession of all of the Leased Premises are be taken in condemnation proceedings by Eminent Domaina Governmental Entity or private party under the exercise of the right of eminent domain, or should a partial Taking render the remaining portion of the Leased Premises unsuitable for Tenant’s use (in Tenant’s reasonable discretion), then this Lease shall terminate as upon such vesting of title or taking of possession. (b) All payments made on account of any Taking by eminent domain shall be deposited with Leasehold Mortgagee and such payments shall first be allocated to either restore the Leased Premises in accordance with the Leasehold Mortgagee’s loan documents or to the Leasehold Mortgagee in the amount equal to the outstanding indebtedness secured by the Leasehold Mortgage and, thereafter, such payments shall be made to the Parties in accordance with their respective interests hereunder (and, for avoidance of doubt, any allocation to the Leased Premises, the Rolling Mill and any other improvements or fixtures thereon or therein shall be allocated exclusively to Tenant), and Tenant, at its sole discretion, shall be entitled seek a separate award for any damages allowable by law, including those damages for (a) the removal and relocation Tenant’s business, (b) the loss or damage to any property that Tenant elects or is required not to remove, and (c) the loss of use of the date Leased Premises by Tenant; and Landlord shall have no right, title or interest in or to any separate award made therefor. Tenant is required shall have the right to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under participate in any governmental or statutory authoritysettlement proceedings, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant is required to vacate the portion of the Premises so taken. If this Lease is so terminated, all Base and Additional Rent shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restorenot enter into any binding settlement agreement without the prior written consent of Tenant, to the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do sowhich consent shall not be unreasonably withheld, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to takingconditioned or delayed.

Appears in 1 contract

Sources: Ground Lease Agreement (Kaiser Aluminum Corp)

Taking. If all of the Premises are or any portion thereof shall be condemned or taken by Eminent Domainany public authority or by any other person or entity with the power of condemnation, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking by eminent domain or damaging of property by, through or under any governmental or statutory authority, and any by purchase or acquisition in lieu thereof, whether the damaging and such condemnation or taking is renders the Premises unsuitable for Tenant's business operation therein, then Tenant may terminate this Lease by government or any other person. If, in the reasonable judgment of giving notice thereof to Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be being effective as of the date when Tenant is required to vacate the portion of the Premises so takenspecified in such notice. If Tenant so terminates this Lease is so terminatedLease, all Base Minimum Annual Rent and Additional Rent shall be paid to the effective date of such termination, and Tenant shall be entitled to an appropriate refund of any Minimum Annual Rent and Additional Rent and any other amounts paid by Tenant hereunder for any period after the effective date of termination. Whenever If this Lease is not so terminated, this Lease and the Term thereof shall continue, except that if Tenant is deprived of the use of any portion of the Premises or any rights under this Lease as a result of such condemnation or taking, Minimum Annual Rent, Additional Rent and any other amounts payable by Tenant hereunder shall be abated or reduced according to the extent to which Tenant is taken by Eminent Domain and deprived of the use or benefit of the Premises or any rights under this Lease. Whether or not this Lease is not terminatedterminated by Tenant as a result of any condemnation or taking, Landlord all damages awarded as a result of the condemnation or taking for the value of Tenant's leasehold interest, for the cost of any leasehold improvements paid for by Tenant and for the cost of Tenant's equipment, machinery, furniture, fixtures and other personal property shall at its expense proceed with all reasonable dispatch belong to restore, Tenant. All other damages awarded shall belong to the extent of available proceeds issued from Landlord. In addition, Tenant shall have the taking governmental authority right to claim, prove, collect and to retain any other damages awarded and any other damages compensable under the extent it is reasonably prudent to do so, the remainder applicable laws of the Premises to the condition they were jurisdiction in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to which the Premises to the same condition they were in immediately prior to are located as a result of such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to condemnation or taking.

Appears in 1 contract

Sources: Lease Agreement (Dura Products International Inc)

Taking. If (a) In the event all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders Mortgaged Property shall be damaged or taken as a result of a Taking, either temporarily or permanently, Agency and Mortgagor shall assign, transfer and set over unto Mortgagee the remainder thereof unusable Taking Proceeds or any claim for the business of Tenant (or the cost of restoration damages for any of the Premises is not commercially reasonable), taken or damaged under the Lease may, at the option power of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the takingeminent domain, and such termination shall be effective as of agrees that in the date when Tenant is required to vacate event the portion of the Premises so taken. If this Lease is so terminated, all Base and Additional Rent shall be paid to the date of termination. Whenever whole or any portion part of the Premises is taken by Eminent Domain eminent domain proceedings, then all sums awarded as damages for the Taking shall be applied in reduction of the indebtedness secured by this Mortgage, but without imposition of the prepayment premium to such application. Any and this Lease is all costs and expenses, including, without limitation, reasonable attorneys' fees and expenses to the fullest extent not terminatedthen prohibited by applicable law, Landlord incurred by Mortgagee by reason of any condemnation, threatened condemnation or proceedings thereunder shall be secured hereby and Mortgagor shall reimburse Mortgagee therefor immediately, or Mortgagee shall have the right, at its expense proceed with all reasonable dispatch to restoreoption, to deduct such costs and expenses from any Taking Proceeds paid to Mortgagee hereunder. In the extent of available proceeds issued event that the Premises is wholly condemned, Mortgagee shall receive from Mortgagor and Agency and/or from the taking governmental authority and Taking Proceeds, payment of the entire amount of the indebtedness secured by this Mortgage. Notwithstanding anything in the foregoing to the extent it contrary, if there is reasonably prudent to do sono Event of Default, the remainder Mortgagor may repair or replace the Mortgaged Property with the replacement or repair to be conducted, and the proceeds to be disbursed, in accordance with the Mortgagee's customary construction loan practices and requirements. (b) Subject to paragraph (a) of this Section, Agency and Mortgagor will immediately notify Mortgagee of the Premises actual or threatened commencement of any Taking proceedings affecting all or any part of the Premises, including any easement therein or appurtenance thereof, including severance and consequential damage and change in grade of streets, and will deliver to Mortgagee copies of any and all papers served in connection with any such proceedings. Agency and Mortgagor further covenant and agree to make, execute and deliver to Mortgagee, from time to time upon request, free, clear and discharged of any encumbrances of any kind whatsoever, any and all further assignments or other instruments deemed necessary by Mortgagee for the purpose of validly and sufficiently assigning the Taking Proceeds and all other awards and compensation heretofore and hereafter to be made to Agency and Mortgagor, including the assignment of any award from the United States Government at any time after the allowance of the claim therefor, the ascertainment of the amount thereof and the issuance of the warrant for payment thereof, for any Taking, either permanent or temporary, under any such proceedings. In the event of a Taking, Mortgagee shall not be limited to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made rate of interest paid on the award by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder condemning authority but shall be reduced from entitled to receive out of the date Tenant Taking Proceeds interest on the entire unpaid principal sum under the Note and the other Construction Loan Documents at the applicable rate(s) provided therein. Agency and Mortgagor hereby assigns to Mortgagee so much of the balance of the Taking Proceeds payable by the condemning authority as is required to partially vacate the Premises pay such interest. (c) Notwithstanding anything in the same proportion that the Rentable Area taken bears foregoing to the total Rentable Area contrary, if there is no Event of Default and provided that Mortgagor provides evidence satisfactory to Mortgagee showing that Mortgagor and the Mortgaged Property will be financially viable following repair or replacement, the Mortgagor may repair or replace the Mortgaged Property with the replacement or repair to be conducted, and the proceeds of the Premises prior insurance to takingbe disbursed, in accordance with the Mortgagee's customary construction loan practices and requirements.

Appears in 1 contract

Sources: Mortgage and Security Agreement (Mapinfo Corp)

Taking. If all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base Rent, Additional Rent, and Additional Percentage Rent (if applicable) shall be paid to that date. The term "“Eminent Domain" ” shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other personperson who under applicable law has the power to exercise the power of condemnation or eminent domain. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease maythis Lease, at the option of either party, may be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant is required to vacate the portion of the Premises so taken. If this Lease is so terminated, all Base Rent, Additional Rent, and Additional Percentage Rent (if applicable) shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restore, to the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be equitably reduced from based on (i) the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area square footage of the Premises prior so taken compared to takingthe square footage of the entire Premises, and (ii) the relative gross revenue from operations generated at such time by the portion of the Premises taken compared to the gross revenue from operations generated at such time by the remainder of the Premises. If this Lease is terminated pursuant to this Subsection 8.2(a), Landlord shall pay Tenant the Lease Termination Fee provided that Tenant has delivered to Landlord any Casino Personal Property and Casino Personal Property Additions that are not taken and all condemnation proceeds relating to the taken Casino Personal Property, the taken Casino Personal Property Additions, any Alterations to the Premises and any and all damages relating to the Casino Business and Tenant’s leasehold interest under this Lease. Tenant shall deliver such items to Landlord free and clear of liens, encumbrances, and defects of title, except any such matters arising through Prime Landlord for the benefit of its Mortgagee and except for Casino Personal Property Additions Capital Leases then outstanding.

Appears in 1 contract

Sources: Casino Sublease Agreement (OCM HoldCo, LLC)

Taking. If all the whole of the Premises are taken is taken, either permanently or temporarily, by Eminent Domaineminent domain or condemnation, this Lease shall automatically terminate as of the date Tenant is required to vacate title vests in the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory condemning authority, and any purchase Tenant shall pay all Base Rent, Additional Rent, and other payments up to the date on which Tenant loses the right of possession and use of all or acquisition in lieu thereof, whether substantially all of the damaging or taking is by government or any other personPremises. If, in the reasonable judgment of Landlord, a taking of If any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (is permanently taken, or the cost of restoration of if access to the Premises is not commercially reasonable)by Tenant is, by virtue of a taking, permanently denied, by eminent domain or condemnation, then Landlord or Tenant shall have the Lease may, at the option of either party, right (to be terminated exercised by written notice given to the other party not more than thirty within sixty (3060) days after Landlord gives Tenant written receipt of notice of the said taking, and such termination shall be effective as of ) to terminate this Lease from the date when Tenant possession is required taken thereunder pursuant to vacate such proceeding or purchase. If neither parry elects to terminate this Lease, as aforesaid, then Landlord shall within a reasonable time after title vests in the condemning authority, repair and restore, at Landlord’s expense, the portion of the Premises not taken so taken. If this Lease is so terminated, all Base and Additional Rent shall be paid as to render same into an architectural whole to the date of termination. Whenever fullest extent reasonably possible, and, if any portion of the Premises is taken by Eminent Domain and this Lease is not terminatedtaken, Landlord thereafter the Base Rent shall at its expense proceed with all reasonable dispatch to restore, be reduced (on a per square foot basis) in proportion to the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder portion of the Premises taken. If there is a temporary taking involving the Premises or Building, if a taking of other portions of the Building or Common Areas does not deny Tenant access to the condition they were in immediately prior to such takingBuilding and Premises, then this Lease shall not terminate, and Tenant Landlord shall repair and restore, at its expense proceed with all reasonable dispatch own expense, the portion not taken so as to restore its personal property and all improvements made by it render same into an architectural whole to the fullest extent reasonably possible, and, if any portion of the Premises to was taken, thereafter the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises (on a per square foot basis) in the same proportion that the Rentable Area taken bears to the total Rentable Area portion of the Premises prior to takingtaken.

Appears in 1 contract

Sources: Deed of Lease (NCI, Inc.)

Taking. If all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant Lessee is required to vacate the Premises and all Base Rent and Additional Rent Charges shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, If a taking of any part of the Building or the Premises by Eminent Domain renders the remainder thereof of the Premises unusable for the business Permitted Use of Tenant (or the cost of restoration of the Premises is not commercially reasonable)Lessee, the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord City gives Tenant Lessee written notice of the taking, and such termination shall be effective as of the date when Tenant Lessee is required to vacate the portion of the Premises so taken. If this Lease is so terminated, all Base Rent and Additional Rent Charges shall be paid to the date of terminationthe taking. Whenever any portion of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall City, at its expense expense, shall proceed with all reasonable dispatch to restore, to the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall Lessee, at its expense expense, shall proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking, to the extent award is available therefor. The Base Rent and Additional Rent Charges payable hereunder shall be reduced from the date Tenant Lessee is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to taking.

Appears in 1 contract

Sources: Lease Agreement

Taking. If all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of the either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant is required to vacate the portion of the Premises so taken. If this Lease is so terminated, all Base Monthly Rent and Additional Rent shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restore, to the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base Monthly Rent and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area rentable area taken bears to the total Rentable Area rentable area of the Premises prior to taking.

Appears in 1 contract

Sources: Lease Agreement (Source Energy Corp /Ut/)

Taking. If all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, If a taking of any part of the Premises by Eminent Domain renders the remainder thereof reasonably unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant is required to vacate the portion of the Premises so taken. If this Lease is so terminated, all Base Monthly Rent and Additional Rent shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restore, to the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. Notwithstanding the foregoing, if the Premises has been rendered unusable by Eminent Domain and Landlord elects for any reason not to restore the same to a reasonably usable condition, Tenant shall be entitled to terminate this Lease. The Base Monthly Rent and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area rentable area taken bears to the total Rentable Area rentable area of the Premises prior to taking.

Appears in 1 contract

Sources: Lease Agreement (Cellcyte Genetics Corp)

Taking. If all there shall be a total taking of the Premises are taken Building in condemnation proceedings or by Eminent Domainany right of eminent domain, this Lease and the Term and estate hereby granted shall terminate as of the date Tenant is required to vacate of taking of possession by the Premises condemning authority and all Base Rent and Additional Rent under Article 4 shall be prorated and paid to that as of such termination date. The term "Eminent Domain" If there shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, be a taking of any material (in Landlord’s reasonable judgment) portion of the Land or the Building (whether or not the Premises are affected by such taking), then Landlord may terminate this Lease and the Term and estate granted hereby by giving notice to Tenant within 60 days after the date of taking of possession by the condemning authority. If there shall be a taking of the Premises of such scope (but in no event less than 25% of the Premises) that the untaken part of the Premises would in Tenant’s reasonable judgment be uneconomic to operate, then Tenant may terminate this Lease and the Term and estate granted hereby by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written giving notice given to the other party not more than thirty (30) Landlord within 60 days after the date of taking of possession by the condemning authority. If either Landlord gives or Tenant written shall give a termination notice of as aforesaid, then this Lease and the taking, Term and such termination estate granted hereby shall be effective terminate as of the date when Tenant is required to vacate of such notice and all Base Rent and Additional Rent under Article 4 shall be prorated and paid as of such termination date. In the portion event of a taking of the Premises so taken. If which does not result in the termination of this Lease is so terminated, (a) the Term and estate hereby granted with respect to the taken part of the Premises shall terminate as of the date of taking of possession by the condemning authority and all Base Rent and Additional Rent under Article 4 shall be paid appropriately abated for the period from such date to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain Expiration Date and this Lease is not terminated, (b) Landlord shall at its expense proceed with all reasonable dispatch to restore, to perform the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is work required to partially vacate the Premises be performed by Landlord pursuant to Section 23.04 of this Lease. “Condemnation” means a total or partial taking in the same proportion that the Rentable Area taken bears to the total Rentable Area condemnation or by right of the Premises prior to takingeminent domain.

Appears in 1 contract

Sources: Lease Agreement (Monotype Imaging Holdings Inc.)

Taking. If all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant is required to vacate the portion of the Premises so taken. If this Lease is so terminated, all Base and Additional Rent shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restore, to the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do soproceeds, the remainder of the Premises to the condition they were in immediately prior to such taking, including the Landlord's Work and ▇▇▇▇▇▇'s Work described in the Work Letter, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements and alterations other than the Tenant's Work made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to taking.

Appears in 1 contract

Sources: Lease Agreement (Blue Nile Inc)

Taking. If all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant Lessee is required to vacate the Premises and all Base Rent and Additional Rent Charges shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, If a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or Lessee, in the cost reasonable judgment of restoration of the Premises is not commercially reasonable)City, the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord City gives Tenant Lessee written notice of the taking, and such termination shall be effective as of the date when Tenant Lessee is required to vacate the portion of the Premises so taken. If this Lease is so terminated, all Base Rent and Additional Rent Charges shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall City, at its expense expense, shall proceed with all reasonable dispatch to restore, to the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall Lessee, at its expense expense, shall proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking, to the extent award is available therefor. The Base Rent and Additional Rent Charges payable hereunder shall be reduced from the date Tenant Lessee is required to partially vacate the Premises in the same proportion that the Rentable Area taken bears to the total Rentable Area of the Premises prior to taking.

Appears in 1 contract

Sources: Lease Agreement

Taking. If a. In the event all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, a taking of any part of the Premises by Eminent Domain renders Mortgaged Property shall be damaged or taken as a result of a Taking, either temporarily or permanently, Mortgagor shall assign, transfer and set over unto Mortgagee the remainder thereof unusable Taking Proceeds or any claim for the business of Tenant (or the cost of restoration damages for any of the Premises is not commercially reasonable), taken or damaged under the Lease may, at the option power of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the takingeminent domain, and such termination shall be effective as of agrees that in the date when Tenant is required to vacate event the portion of the Premises so taken. If this Lease is so terminated, all Base and Additional Rent shall be paid to the date of termination. Whenever whole or any portion part of the Premises is taken by Eminent Domain eminent domain proceedings, then all sums awarded as damages for the Taking shall be applied in reduction of the indebtedness secured by this Mortgage, but without imposition of the prepayment premium to such application. Any and this Lease is all costs and expenses, including, without limitation, reasonable attorneys’ fees and expenses to the fullest extent not terminatedthen prohibited by applicable law, Landlord incurred by Mortgagee by reason of any condemnation, threatened condemnation or proceedings thereunder shall be secured hereby and Mortgagor shall reimburse Mortgagee therefor immediately, or Mortgagee shall have the right, at its expense proceed with all reasonable dispatch to restoreoption, to deduct such costs and expenses from any Taking Proceeds paid to Mortgagee hereunder. In the extent of available proceeds issued event that the Premises is wholly condemned, Mortgagee shall receive from Mortgagor and/or from the taking governmental authority Taking Proceeds payment of the entire amount of the indebtedness secured by this Mortgage. b. Subject to paragraph (a) of this Section, Mortgagor will immediately notify Mortgagee of the actual or threatened commencement of any Taking proceedings affecting all or any part of the Premises, including any easement therein or appurtenance thereof, including severance and consequential damage and change in grade of streets, and will deliver to Mortgagee copies of any and all papers served in connection with any such proceedings. Mortgagor further covenants and agrees to make, execute and deliver to Mortgagee, from time to time upon request, free, clear and discharged of any encumbrances of any kind whatsoever, any and all further assignments or other instruments deemed necessary by Mortgagee for the purpose of validly and sufficiently assigning the Taking Proceeds and all other awards and compensation heretofore and hereafter to be made to Mortgagor, including the assignment of any award from the United States Government at any time after the allowance of the claim therefor, the ascertainment of the amount thereof and the issuance of the warrant for payment thereof, for any Taking, either permanent or temporary, under any such proceedings. In the event of a Taking, Mortgagee shall not be limited to the extent it is reasonably prudent rate of interest paid on the award by the condemning authority but shall be entitled to do so, the remainder receive out of the Premises Taking Proceeds interest on the entire unpaid principal sum under the Note and the other Loan Documents at the applicable rate(s) provided therein. Mortgagor hereby assigns to Mortgagee so much of the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made balance of the Taking Proceeds payable by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant condemning authority as is required to partially vacate pay such interest. c. Subject to paragraph (a) of this Section, Mortgagor hereby irrevocably authorizes and appoints Mortgagee its attorney-in-fact, coupled with an interest, to collect and receive any such Taking Proceeds from the Premises authorities making the same, to appear in any proceeding therefor, to give receipts and acquittances therefor, and to apply the same proportion that the Rentable Area taken bears to the total Rentable Area payment on account of the Premises prior indebtedness secured hereby whether then matured or not. Mortgagor shall execute and deliver to takingMortgagee on demand such assignments and other instruments as Mortgagee may require for such purposes.

Appears in 1 contract

Sources: Mortgage and Security Agreement (Document Security Systems Inc)

Taking. If all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant Lessee is required to vacate the Premises and all Base Rent and Additional Rent Charges shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, If a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or Lessee, in the cost reasonable judgment of restoration of the Premises is not commercially reasonable)City, the Lease may, at the option of either party, be terminated by written notice given to the other party not more than thirty (30) days after Landlord City gives Tenant Lessee written notice of the taking, and such termination shall be effective as of the date when Tenant Lessee is required to vacate the portion of the Premises so taken. If this Lease is so terminated, all Base Rent and Additional Rent Charges shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall City, at its expense expense, shall proceed with all reasonable dispatch to restore, to the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall Lessee, at its expense expense, shall proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking, to the extent award is available therefor. The Base Rent and Additional Rent Charges payable hereunder shall be reduced from the date Tenant Lessee is required to partially vacate the Premises in the same proportion that the Rentable Area Lease area taken bears to the total Rentable Lease Area of the Premises prior to taking.

Appears in 1 contract

Sources: Lease Agreement

Taking. If all there shall be a total taking of the Premises are taken Building in condemnation proceedings or by Eminent Domainany right of eminent domain, this Lease and the Term and estate hereby granted shall terminate as of the date Tenant is required to vacate of taking of possession by the Premises condemning authority and all Base Rent and Additional Rent under Article 4 shall be prorated and paid to that as of such termination date. The term "Eminent Domain" If there shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, be a taking of any material (in Landlord’s reasonable judgment) portion of the Land or the Building (whether or not the Premises are affected by such taking), then Landlord may terminate this Lease and the Term and estate granted hereby by giving notice to Tenant within 60 days after the date of taking of possession by the condemning authority. If there shall be a taking of the Premises of such scope (but in no event less than 25% of the Above-Grade Premises) that the untaken part of the Premises would in Tenant’s reasonable judgment be uneconomic to operate, then Tenant may terminate this Lease and the Term and estate granted hereby by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or the cost of restoration of the Premises is not commercially reasonable), the Lease may, at the option of either party, be terminated by written giving notice given to the other party not more than thirty (30) Landlord within 60 days after the date of taking of possession by the condemning authority. If either Landlord gives or Tenant written shall give a termination notice of as aforesaid, then this Lease and the taking, Term and such termination estate granted hereby shall be effective terminate as of the date when Tenant is required to vacate of such notice and all Base Rent and Additional Rent under Article 4 shall be prorated and paid as of such termination date. In the portion event of a taking of the Premises so taken. If which does not result in the termination of this Lease is so terminated, (a) the Term and estate hereby granted with respect to the taken part of the Premises shall terminate as of the date of taking of possession by the condemning authority and all Base Rent and Additional Rent under Article 4 shall be paid appropriately abated for the period from such date to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain Expiration Date and this Lease is not terminated, (b) Landlord shall at its expense proceed with all reasonable dispatch to restore, to perform the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent payable hereunder shall be reduced from the date Tenant is work required to partially vacate the Premises be performed by Landlord pursuant to Section 23.04 of this Lease. “Condemnation” shall mean a total or partial taking in the same proportion that the Rentable Area taken bears to the total Rentable Area condemnation or by right of the Premises prior to takingeminent domain.

Appears in 1 contract

Sources: Lease Agreement (Bank of New York Mellon Corp)

Taking. If all of the Premises are arc taken by Eminent Domaineminent domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base and Additional Rent rentals shall be paid to that date. The term "Eminent Domain" “eminent domain” shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, If a taking of any part of the Premises by Eminent Domain eminent domain renders the remainder thereof unusable for the business of Tenant (or Tenant, in the cost reasonable judgment of restoration of the Premises is not commercially reasonable)Landlord, the Lease maythis Lease, at the option of either party, may be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall stall be effective as of the date when Tenant is required to vacate the portion of the Premises so taken. If the whole or any material part of the Building shall be taken by eminent domain, Landlord, at its option, may terminate this Lease by written notice to Tenant. If this Lease is so terminated, all Base and Additional Rent rent shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain eminent domain and this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restore, to the extent of available condemnation or insurance proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base and Additional Rent base rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area rentable area taken bears to the total Rentable Area rentable area of the Premises prior to taking.

Appears in 1 contract

Sources: Lease Agreement (iVOW, Inc.)

Taking. If all of the Premises are taken by Eminent Domain, this Lease shall terminate as of the date Tenant is required to vacate the Premises and all Base Rent and Additional Rent shall be paid to that date. The term "Eminent Domain" shall include the taking or damaging of property by, through or under any governmental or statutory authority, and any purchase or acquisition in lieu thereof, whether the damaging or taking is by government or any other person. If, in the reasonable judgment of Landlord, If a taking of any part of the Premises by Eminent Domain renders the remainder thereof unusable for the business of Tenant (or Tenant, in the cost reasonable judgment of restoration of the Premises is not commercially reasonable)Landlord, the Lease maythis Lease, at the option of either party, may be terminated by written notice given to the other party not more than thirty (30) days after Landlord gives Tenant written notice of the taking, and such termination shall be effective as of the date when Tenant is required to vacate the portion of the Premises so taken. If this Lease is so terminated, all Base Rent and Additional Rent shall be paid to the date of termination. Whenever any portion of the Premises is taken by Eminent Domain and this Lease is not terminated, Landlord shall at its expense proceed with all reasonable dispatch to restore, to the extent of available proceeds issued from the taking governmental authority and to the extent it is reasonably prudent to do so, the remainder of the Premises to the condition they were in immediately prior to such taking, and Tenant shall at its expense proceed with all reasonable dispatch to restore its personal property and all improvements made by it to the Premises to the same condition they were in immediately prior to such taking. The Base Rent and Additional Rent payable hereunder shall be reduced from the date Tenant is required to partially vacate the Premises in the same proportion that the Rentable Area rentable area taken bears to the total Rentable Area rentable area of the Premises prior to taking.

Appears in 1 contract

Sources: Lease (Photoworks Inc /Wa)