Taking Date definition

Taking Date means, with respect to any Taking, the date on which physical possession of the portion of the Premises that is the subject of such Taking is transferred to the condemning authority.

Taking Date means the date on which the condemning authority shall have the right to possession of the Premises or the Building and Lot or any portion thereof, as the case may be.

Taking Date means the first date on which the condemning authority has the right to possession of the Land or Improvements which have been Taken.

Examples of Taking Date in a sentence

• If a Taking occurs during the Term that is not a Substantial Taking, or if a Substantial Taking occurs but Tenant fails to exercise its termination option according to Section 14.2, this Lease shall remain in full force and effect according to its terms, except that, effective as of the Taking Date, this Lease shall terminate automatically as to any portion of the Premises taken, and the Rent payable during the remaining Term shall be adjusted equitably in proportion to the area taken.

• If less than the whole of the Property, or less than such portion thereof as will make the Property unusable for the purposes leased hereunder (as determined by Tenant in its reasonable judgment), shall be taken, the Term shall cease only as to the part so taken as of the Taking Date.

More Definitions of Taking Date

Taking Date means the later of (i) the date on which the condemning authority takes actual physical possession of the Leased Premises or any portion thereof, as the case may be, or (ii) the date on which the right to compensation and damages accrues under the law applicable to the Leased Premises.

Taking Date. With respect to any Taking, the date on which the condemning authority or purchaser under threat shall have the right to possession of the Demised Premises, the Building or the Land or any portion thereof.

Taking Date is defined in Section 10.2 of the Standard Lease Provisions.

Taking Date means the date of the vesting of title to all or part of the Premises in a condemning authority, or the date upon which construction commences to effectuate a change of grade of any street abutting the Premises.

Taking Date means the earlier of the date that title to the property taken is vested in the Condemning Authority or the date the Condemning Authority has the right to possession of the property being condemned.

Taking Date shall have the meaning set forth in Section 14.1 hereof.

Taking Date is defined in Section 8.01.