Complete Condemnation. If, during the term hereof, the whole of the Project Site shall be taken under the power of eminent domain (or in lieu of or under threat of exercise of such power) by any public or private authority, then this Ground Lease and the term hereof shall cease and terminate as of the date of such taking, provided that the Tenant shall share in the condemnation award as provided herein. The Tenant may, upon the written approval of the District, continue to occupy the Project Site, subject to the terms of this Ground Lease, for all or such part of the period between the date of such taking and the date when possession of the Project Site shall be taken by the taking authority, and any unearned rent or other charges, if any, paid in advance, shall be refunded to the Tenant. If required, the Tenant shall procure from the applicable governmental authority, at the Tenant’s sole cost and expense, all necessary consents and authorizations to continue to occupy the Project Site from and after the date of such taking.
Complete Condemnation. (a) If the entire Project shall be taken or condemned for any public or quasi-public use or purpose, by right of eminent domain or by purchase in lieu thereof (in each case, a “Taking”), or if such Taking shall be for a portion of the Project such that the portion remaining is not sufficient and suitable, on a commercially reasonable basis (subject, however, to the rights of the Lender or Indenture Trustee hereunder), for the operation of the Hotel, then this Lease shall cease and terminate as of the date on which the condemning authority takes possession; and
Complete Condemnation. If the entire Premises or Building or a substantial part thereof is taken or condemned by any competent authority for any public or quasi-public use or purpose, the Term of this Lease shall end upon and not before the earlier of (i) the date when the possession of the part so taken is required for such use or purpose or (ii) the effective date of the taking. Landlord and Tenant shall each be entitled to receive such separate awards as may be allocated to their respective interests in any such proceedings, including in the case of Tenant any award made to it for depreciation to or loss of and cost of removal of furniture, fixtures, equipment and inventory; provided that Tenant shall not be entitled to any portion of any award, regardless of the value of Tenant's leasehold interest, the effect of which would be to reduce the aggregate award properly claimed by and allocable to Landlord and instead, Landlord shall be entitled to such award to the extent of such reduction. Termination of this Lease pursuant to its provisions shall not affect the rights of the respective parties of such awards. If any condemnation proceeding is instituted in which it is sought to take or damage any part of the Improvements, the taking of which, in Landlord's opinion, would prevent the economical operation of the Building, or if the grade of any street or alley adjacent to the Improvements is changed by any competent authority, and such taking, damage or change of grade makes it necessary or desirable to remodel the Improvements to conform to the taking, damage or changed grade, unless Tenant agrees in writing to undertake satisfaction of conditions, Landlord shall have the right to terminate this Lease upon not less than ninety (90) days' notice prior to the date of termination designated in the notice. In either of these events, Rent at the then current rate shall be apportioned as of the date of the termination. No money or other consideration shall be payable by Landlord to Tenant for the right of termination, and Tenant shall have no right to share in the condemnation award, whether for a total or partial taking, for loss of Tenant's leasehold or improvements or other loss or expenses or in any judgment for damages caused by the change of grade.
Complete Condemnation. If the Leased Premises shall be appropriated completely under the power of eminent domain, this Lease shall terminate and the Rental shall be abated during the unexpired portion of this Lease effective on the date physical possession is taken by the condemning authority or title vests in the condemning authority, whichever occurs first.
Complete Condemnation. (a) If the entire Complex shall be taken or condemned for any public or quasi-public use or purpose, by right of eminent domain or by purchase in lieu thereof (in each case, a “Taking”), or if such Taking shall be for a portion of the Complex such that the portion remaining is not sufficient and suitable, on a commercially reasonable basis for the operation of the Complex, then this Lease shall cease and terminate as of the date on which the condemning authority takes possession; and
Complete Condemnation. If the entire Property is taken or condemned for any public or quasi-public use or purpose, by right of eminent domain or by purchase in lieu of eminent domain (in each case, a “Taking”), or if the Taking is for a portion of the Property such that the portion remaining is not sufficient and suitable, on a commercially reasonable basis (subject, however, to the rights of the Insurance Trustee hereunder), for the operation of the Improvements, then this Agreement will cease and terminate as of the date on which the condemning authority takes possession. If this Agreement is so terminated, the entire award for the Property or the portion taken will be apportioned between the City and the Operator as of the day immediately prior to the vesting of title in the condemner, as follows: First, but only if the City is not the authority condemning the Property, the City will receive the then fair market value of the portion of the Property so taken or condemned considered as vacant, unimproved, and unencumbered, together with the value of the Improvements, discounted from the end of the Term; Second, Operator will be entitled to the then fair market value of its interest under this Agreement and in the Improvements, less the discounted value of the Improvements allocated to the City, together with any and all business damages suffered by Operator; and The City and Operator shall each receive one-half of any remaining balance of the award, except that the Operator will receive the entire remaining balance of the award if the City is the authority condemning the Project.
Complete Condemnation. If the whole of the Premises, or such portion thereof as will make the Premises unsuitable for the purpose herein leased, is condemned pursuant to eminent domain for any public or quasi-public use or purpose by any legally constituted authority or transferred in lieu thereof, then this Lease shall terminate upon, and not before, the date of the taking of possession by the condemning authority, and without apportionment of the condemnation award, except that Lessee shall be entitled to a share of such award allocable to any Alterations to the Building made by Lessee prior to the date of such award. Rent shall be apportioned as of the date of such termination.
Complete Condemnation. If all of the Premises, or such part thereof be taken under the power of eminent domain or sold under the exercise of such power so that there does not remain a portion susceptible for occupation hereunder, this Lease shall thereupon terminate. If a part or all of the Premises be taken or condemned, all compensation awarded upon such condemnation or taking that does not relate to TENANT'S personal property shall be paid to the LANDLORD, and the TENANT shall have no claim thereto, and the TENANT hereby irrevocably assigns and transfers to the LANDLORD any right to compensation or damages with respect to the diminution in value to the Premises to which the TENANT may become entitled during the Term hereof by reason of the condemnation of all or any part of the Premises. Nothing contained herein shall prohibit TENANT from maintaining a separate action against the condemning authority.
Complete Condemnation. If, during the term hereof, the whole of the Project Land (or, in the reasonable opinion of the Company, any material portion thereof) shall be taken under the power of eminent domain by any public or private authority, then this Ground Lease and the term hereof shall cease and terminate as of the date of such taking, provided that the amount of any monetary award for the purchase price of the expropriated property shall be appropriated and disposed of as provided for in the Indenture.
Complete Condemnation. If, after the execution and prior to the --------------------- termination of this Lease Agreement, the whole of the Leased Premises shall be taken under the power of eminent domain by any public or private authority, then this Lease Agreement and the term hereof shall cease and terminate as of the date of such taking, with the right of Tenant, at its election, to continue to occupy the Leased Premises, subject to the terms of this Lease Agreement, for all or such part, as Tenant may determine, of the period between the date of such taking and the date when possession of the Leased Premises shall be taken by the taking authority, and any unearned rent or other charges, if any, paid in advance, shall be refunded to Tenant. If required, Tenant shall procure from the applicable governmental authority, at Tenant's expense, all necessary consents and authorizations to continue to occupy the Leased Premises from and after the date of such taking.
