Common use of Condemnation and Loss or Damage Clause in Contracts

Condemnation and Loss or Damage. (a) If the Leased Premises (or any material part thereof covering at least one-fourth of the Net Rentable Area of Leased Premises) or any portion of the Building (including access to the Leased Premises) shall be taken or condemned for any public purpose to such an extent as to render the Leased Premises or remaining portion thereof unfit for use and occupancy in accordance with standards generally applicable to first-class high-rise office buildings in downtown Boston, this Lease shall, at the option of Tenant (provided such option shall be exercised by Tenant giving notice to Landlord within sixty (60) days from the date Tenant has been notified in writing of such taking or condemnation) forthwith cease and terminate as of the date of the taking. If the Leased Premises (or any material part thereof covering at least one-fourth of the Net Rentable Area of Leased Premises) or a substantial portion of the Building (including access to the Building that renders the Building unfit for use and occupancy in accordance with standards generally applicable to first-class high-rise office buildings in downtown Boston) shall be taken or condemned for any public purpose, this Lease shall, at the option of Landlord (provided such option shall be exercised by Landlord giving of notice to Tenant within sixty (60) days from the date Landlord has been notified in writing of such taking or condemnation) forthwith cease and terminate as of the date of the taking. Landlord’s right to terminate as set forth in the immediately preceding sentence shall be effective only if Landlord terminates the leases of all tenants, in the Office Section of the Building that are similarly situated with respect to the taking or condemnation (regardless of the amount of space demised to such tenants). All proceeds from any taking or condemnation of the Leased Premises shall belong to and be paid to Landlord, and Tenant hereby assigns to Landlord its interest in said proceeds, subject to the rights of any holder of any Mortgage; provided, however, that Landlord shall cooperate with Tenant if Tenant seeks, in a separate proceeding, to recover, at its cost and expense, compensation for its moving and relocation expenses and Tenant’s Property. In no event shall any such recovery by Tenant have the effect of diminishing or delaying the award payable to Landlord on account of any taking or condemnation. If in any such case the Leased Premises or any portion thereof are rendered unfit for use and occupation in accordance with standards generally applicable to first-class high-rise office buildings in downtown Boston (or any common areas or facilities required for access to the Leased Premises are taken) and this Lease is not terminated, Landlord shall use due diligence (following the expiration of the period in which Landlord may terminate this Lease pursuant to the foregoing provisions of this Section and subject to the extent and availability of the condemnation proceeds received by Landlord) to put the Leased Premises, or any common areas or facilities required for access to the Leased Premises, or what may remain of either (excluding any items installed or paid for by Tenant which Tenant may be required to remove pursuant to Section 4.07), into proper condition for use and occupation, and a just proportion of the Gross Rent according to the nature and extent of the taking shall be abated until the Leased Premises or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Leased Premises, a just proportion of the Gross Rent shall be abated for the remainder of the Term.

Appears in 1 contract

Samples: Subtenant Improvements Agreement (NewStar Financial, Inc.)

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Condemnation and Loss or Damage. (a) If the Leased Premises (or any material part thereof covering at least one-fourth of the Net Rentable Area of Leased Premises) all or any portion of the Leased Premises or the Building (including access to the Leased Premises) shall be taken or condemned for any public purpose to such an extent as to render the Leased Premises untenantable as reasonably determined by either Landlord or remaining portion thereof unfit for use and occupancy in accordance with standards generally applicable to first-class high-rise office buildings in downtown BostonTenant, this Lease shall, at the option of Tenant either party (provided such option shall be exercised by Tenant the giving of notice by the exercising party to Landlord the other party within sixty (60) days from the date Tenant the exercising party has been notified in writing of such taking or condemnation) forthwith cease and terminate as of the date of the taking. If this Lease is not terminated in accordance with the provisions of this subparagraph (a), the Rent due shall be abated in proportion to the portion of the Leased Premises (or any material part thereof covering at least one-fourth of so taken, and Landlord shall be obligated to repair and restore the Net Rentable Area of Leased Premises) or a substantial portion of Premises and/or the Building (including access and shall proceed diligently to do so; provided, however, that Landlord shall have no obligation to incur costs to repair and restore the Leased Premises and/or the Building that renders the Building unfit for use and occupancy in accordance with standards generally applicable to first-class high-rise office buildings in downtown Boston) shall be taken or condemned for any public purpose, this Lease shall, at the option of Landlord (provided such option shall be exercised by Landlord giving of notice to Tenant within sixty (60) days from the date Landlord has been notified in writing of such taking or condemnation) forthwith cease and terminate as of the date of the taking. Landlord’s right to terminate as set forth in the immediately preceding sentence shall be effective only if Landlord terminates the leases of all tenants, in the Office Section of the Building that are similarly situated with respect to the taking or condemnation (regardless of which exceeds the amount of space demised condemnation proceeds Landlord realizes or any insurance proceeds which, as a result of such taking, Landlord realizes or would have realized had Landlord procured the insurance required by Section 5.01, and provided further Landlord shall have no obligation to such tenants)repair and restore any Tenant Alterations to the extent the same were paid for by Tenant. All proceeds from any taking or condemnation of the Leased Premises shall belong to and be paid to Landlord, and Tenant hereby assigns to Landlord its interest in said proceeds, subject to the rights of any holder of any Mortgage; provided, however, that Tenant shall be entitled to any proceeds attributable to Tenant Alterations to the extent the same were paid for by Tenant, and provided further Landlord shall cooperate with Tenant if Tenant seeks, in a separate proceeding, seeks to recover, at its cost and expense, compensation for its moving and relocation expenses and Tenant’s Propertypersonal property. In no event shall any such recovery by Tenant have the effect of diminishing or delaying the award payable to Landlord on account of any taking or condemnation. If in any such case the Leased Premises or any portion thereof are rendered unfit for use and occupation in accordance with standards generally applicable to first-class high-rise office buildings in downtown Boston (or any common areas or facilities required for access to the Leased Premises are taken) and this Lease is not terminated, Landlord shall use due diligence (following the expiration of the period in which Landlord may terminate this Lease pursuant to the foregoing provisions of this Section and subject to the extent and availability of the condemnation proceeds received by Landlord) to put the Leased Premises, or any common areas or facilities required for access to the Leased Premises, or what may remain of either (excluding any items installed or paid for by Tenant which Tenant may be required to remove pursuant to Section 4.07), into proper condition for use and occupation, and a just proportion of the Gross Rent according to the nature and extent of the taking shall be abated until the Leased Premises or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Leased Premises, a just proportion of the Gross Rent shall be abated for the remainder of the Term.

Appears in 1 contract

Samples: Houghton Mifflin Co

Condemnation and Loss or Damage. (a) If the Leased Premises (or any material part thereof covering at least one-fourth of the Net Rentable Area of Leased Premises) all or any portion of the Leased Premises or the Building (including access to the Leased Premises) shall be taken or condemned for any public purpose to such an extent as to render the Leased Premises untenantable as reasonably determined by either Landlord or remaining portion thereof unfit for use and occupancy in accordance with standards generally applicable to first-class high-rise office buildings in downtown BostonTenant, this Lease shall, at the option of Tenant either party (provided such option shall be exercised by Tenant the giving of notice by the exercising party to Landlord the other party within sixty (60) days from the date Tenant the exercising party has been notified in writing of such taking or condemnation) forthwith cease and terminate as of the date of the taking. If this Lease is not terminated in accordance with the provisions of this subparagraph (a), the Rent due shall be abated in proportion to the portion of the Leased Premises (or any material part thereof covering at least one-fourth of so taken, and Landlord shall be obligated to repair and restore the Net Rentable Area of Leased Premises) or a substantial portion of Premises and/or the Building (including access and shall proceed diligently to do so; provided, however, that Landlord shall have no obligation to incur costs to repair and restore the Leased Premises and/or the Building that renders the Building unfit for use and occupancy in accordance with standards generally applicable to first-class high-rise office buildings in downtown Boston) shall be taken or condemned for any public purpose, this Lease shall, at the option of Landlord (provided such option shall be exercised by Landlord giving of notice to Tenant within sixty (60) days from the date Landlord has been notified in writing of such taking or condemnation) forthwith cease and terminate as of the date of the taking. Landlord’s right to terminate as set forth in the immediately preceding sentence shall be effective only if Landlord terminates the leases of all tenants, in the Office Section of the Building that are similarly situated with respect to the taking or condemnation (regardless of which exceeds the amount of space demised condemnation proceeds Landlord realizes or any insurance proceeds which, as a result of such taking, Landlord realizes or would have realized had Landlord procured the insurance required by Section 5.01, and provided further Landlord shall have no obligation to such tenants)repair and restore any Tenant Alterations, Excess Building Standard Improvements or Premium Tenant Improvements to the extent the same were paid for by Tenant. All proceeds from any taking or condemnation of the Leased Premises shall belong to and be paid to Landlord, and Tenant hereby assigns to Landlord its interest in said proceeds, subject to the rights of any holder of any Mortgage; provided, however, that Tenant shall be entitled to any proceeds attributable to Tenant Alterations, Excess Building Standard Improvements or Premium Tenant Improvements to the extent the same were paid for by Tenant, and provided further Landlord shall cooperate with Tenant if Tenant seeks, in a separate proceeding, seeks to recover, at its cost and expense, compensation for its moving and relocation expenses and Tenant’s Propertypersonal property. In no event shall any such recovery by Tenant have the effect of diminishing or delaying the award payable to Landlord on account of any taking or condemnation. If in any such case the Leased Premises or any portion thereof are rendered unfit for use and occupation in accordance with standards generally applicable to first-class high-rise office buildings in downtown Boston (or any common areas or facilities required for access to the Leased Premises are taken) and this Lease is not terminated, Landlord shall use due diligence (following the expiration of the period in which Landlord may terminate this Lease pursuant to the foregoing provisions of this Section and subject to the extent and availability of the condemnation proceeds received by Landlord) to put the Leased Premises, or any common areas or facilities required for access to the Leased Premises, or what may remain of either (excluding any items installed or paid for by Tenant which Tenant may be required to remove pursuant to Section 4.07), into proper condition for use and occupation, and a just proportion of the Gross Rent according to the nature and extent of the taking shall be abated until the Leased Premises or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Leased Premises, a just proportion of the Gross Rent shall be abated for the remainder of the Term.

Appears in 1 contract

Samples: Houghton Mifflin Co

Condemnation and Loss or Damage. (a) If the Leased Premises (whole or any material part thereof covering at least one-fourth of substantially the Net Rentable Area of Leased Premises) or any portion whole of the Building (including access to or the Leased Premises) shall Premises should be taken or condemned for any public purpose or quasi-public use under any governmental law, ordinance, or regulation, or by right of eminent domain or should be sold to such an extent as to render the Leased Premises or remaining portion thereof unfit for use and occupancy condemning authority in accordance with standards generally applicable to first-class high-rise office buildings in downtown Bostonlieu of condemnation, then this Lease shallshall terminate as of the date when physical possession of the Building or the Premises is taken by the condemning authority. If less than the whole or substantially the whole of the Building or the Premises is thus taken or sold, at Lessor (whether or not the option of Tenant (provided such option shall be exercised Premises are affected thereby) may terminate this Lease by Tenant giving written notice thereof to Landlord Lessee within sixty (60) days from the date Tenant has been notified in writing after Lessor receives notice of such taking or condemnation) forthwith cease and taking, in which event this Lease shall terminate as of the date when physical possession of the taking. If the Leased Premises (or any material part thereof covering at least one-fourth of the Net Rentable Area of Leased Premises) or a substantial such portion of the Building (including access to or Premises is taken by the condemning authority. If upon any such taking or sale of less than the whole or substantially the whole of the Building that renders or the Building unfit for use and occupancy in accordance with standards generally applicable to first-class high-rise office buildings in downtown Boston) Premises this Lease shall not be thus terminated, the Basic Rental payable hereunder shall be diminished based upon the area of the Premises, if any, which was so taken or condemned for any public purpose, this Lease sold; and Lessor shall, at Lessor's sole expense, restore and reconstruct the option of Landlord (provided Building and the Premises to substantially their former condition to the extent that the same, in Lessor's judgement, may be feasible, but such option work shall be exercised by Landlord giving of notice to Tenant within sixty (60) days from not exceed the date Landlord has been notified in writing of such taking or condemnation) forthwith cease and terminate as scope of the date work done by Lessor in originally constructing the Building and installing building standard items in the Premises, nor shall Lessor in any event be required to spend for such work an amount in excess of the taking. Landlord’s right to terminate amount received by Lessor as set forth in the immediately preceding sentence shall be effective only if Landlord terminates the leases compensation awarded upon a taking of any part or all tenants, in the Office Section of the Building that are similarly situated with respect to or the taking or condemnation (regardless of the amount of space demised to such tenants)Premises. All proceeds payable as a lump sum from any taking or condemnation of the Leased Premises shall belong to and be paid to Landlord, and Tenant hereby assigns to Landlord its interest in said proceeds, subject to the rights of any holder of any Mortgage; provided, however, that Landlord Lessor. Nothing contained herein shall cooperate with Tenant if Tenant seeks, in prevent Lessee from seeking a separate proceeding, to recover, at its cost and expense, compensation for its moving and relocation expenses and Tenant’s Property. In no event shall any such recovery by Tenant have award from the effect of diminishing or delaying the award payable to Landlord on account of any taking or condemnation. If in any such case the Leased Premises or any portion thereof are rendered unfit for use and occupation in accordance with standards generally applicable to first-class high-rise office buildings in downtown Boston (or any common areas or facilities required for access to the Leased Premises are taken) and this Lease is not terminated, Landlord shall use due diligence (following the expiration of the period in which Landlord may terminate this Lease pursuant to the foregoing provisions of this Section and subject to the extent and availability of the condemnation proceeds received by Landlord) to put the Leased Premises, or any common areas or facilities required for access to the Leased Premises, or what may remain of either (excluding any items installed or paid for by Tenant which Tenant may be required to remove pursuant to Section 4.07), into proper condition for use and occupation, and a just proportion of the Gross Rent according to the nature and extent of the taking shall be abated until the Leased Premises or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Leased Premises, a just proportion of the Gross Rent shall be abated for the remainder of the Termcondemning authority.

Appears in 1 contract

Samples: Office Lease Agreement (U S Long Distance Corp)

Condemnation and Loss or Damage. (a) A. If the Leased Premises (or any material part thereof covering at least one-fourth of the Net Rentable Area of Leased Premises) or any portion of the Building (including access to the Leased Premises) shall be taken or condemned for any public purpose to such an extent as to render the Leased Premises or remaining portion thereof unfit for use and occupancy in accordance with standards generally applicable to first-class high-rise office buildings in downtown Boston, this Lease shall, at the option of Tenant (provided such option shall be exercised by Tenant giving notice to Landlord within sixty (60) days from the date Tenant has been notified in writing of such taking or condemnation) forthwith cease and terminate as of the date of the taking. If the Leased Premises (or any material part thereof covering at least one-fourth of the Net Rentable Area of Leased Premises) or a substantial portion of the Building (including access to or the Building that renders the Building unfit for use and occupancy in accordance with standards generally applicable to first-class high-rise office buildings in downtown Boston) Leased Premises shall be taken or condemned for any public purpose, this Lease shall, at the option of Landlord Lessor upon thirty (provided such option shall be exercised by Landlord giving of 30) days' prior written notice to Tenant within sixty (60) days from the date Landlord has been notified in writing of such taking or condemnation) Lessee, forthwith cease and terminate as terminate. Additionally, if a substantial portion of the date Building or the Leased Premises is taken under the power of eminent domain (including any conveyance made in lieu thereof) or if any taking of the taking. Landlord’s Building or the Leased Premises or any portion thereof shall materially impair the normal operation of Lessee's business operations in the Leased Premises, then Lessee shall have the right to terminate as set forth in this Lease by giving written notice of such termination within thirty (30) days after such taking. If any part of the immediately preceding sentence Leased Premises shall be effective taken or condemned for any public purpose and neither Lessor nor Lessee terminates this Lease as provided herein, this Lease shall be terminated only if Landlord terminates as to the leases of all tenants, in the Office Section portion of the Building that are similarly situated with respect to the taking Leased Premises taken or condemnation (regardless of the amount of space demised to such tenants)condemned. All proceeds from any taking or condemnation of the Leased Premises shall belong to and be paid to Landlord, Lessor and Tenant Lessee hereby assigns to Landlord Lessor all of its right, title and interest in said proceeds, subject and to the rights of any holder of any Mortgage; such award (provided, however, that Landlord Lessee shall cooperate with Tenant if Tenant seeks, in be entitled to pursue a separate proceeding, award relative to recover, at its cost and expense, compensation for its moving and relocation expenses and Tenant’s Property. In no event shall any such recovery by Tenant have the effect of diminishing or delaying the award payable to Landlord relevant condemnation on account of loss of business, for the unamortized value of any taking or condemnation. If in any such case the Leased Premises or any portion thereof are rendered unfit for use and occupation in accordance with standards generally applicable to first-class high-rise office buildings in downtown Boston (or any common areas or facilities required for access to the Leased Premises are taken) and this Lease is not terminated, Landlord shall use due diligence (following the expiration of the period in which Landlord may terminate this Lease pursuant to the foregoing provisions of this Section and subject to the extent and availability of the condemnation proceeds received by Landlord) to put the Leased Premises, or any common areas or facilities required for access to the Leased Premises, or what may remain of either (excluding any items installed or leasehold improvements paid for by Tenant which Tenant may be required to remove pursuant to Section 4.07)Lessee, into proper condition for use and occupation, and a just proportion of the Gross Rent according to the nature and extent of the taking shall be abated until the Leased Premises moving expenses or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Leased Premises, a just proportion of the Gross Rent shall be abated for the remainder value of the TermLessee's leasehold estate).

Appears in 1 contract

Samples: Lease Contract (Charys Holding Co Inc)

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Condemnation and Loss or Damage. (a) If the Leased Premises (whole or any material part thereof covering at least one-fourth of the Net Rentable Area Premises or Project shall be taken by power of Leased Premises) eminent domain or condemned by any portion competent authority for any public or quasi-public use or purpose, or if any adjacent property or street shall be so taken or condemned, or reconfigured or vacated by such authority in such manner as to require the use, reconstruction or remodeling of any part of the Building Premises or Project, or if Lessor shall grant a deed or other instrument in lieu of such taking by eminent domain or condemnation, Lessor shall have the option to terminate this Lease upon ninety (including 90) days’ notice, provided such notice is given no later than one hundred eighty (180) days after the date of such taking, condemnation, reconfiguration, vacation, deed or other instrument. If more than twenty-five percent (25%) of the rentable square feet of the premises is taken, or if access to the Leased PremisesPremises is substantially impaired, Lessee shall have the option to terminate this Lease upon ninety (90) days’ notice, provided such notice is given no later than one hundred eighty (180) days after the date of such taking. Lessor shall be taken entitled to receive the entire award or condemned payment in connection therewith, except that Lessee shall have the right to file any separate claim available to Lessee for any public purpose taking of Lessee’s personal property and fixtures belonging to Lessee and removable by Lessee upon expiration of the Lease Term pursuant to the terms of this Lease, and for moving expenses or other claims permitted by applicable Laws, so long as such an extent as claim does not diminish the award available to render Lessor, its ground lessor with respect to the Leased Premises Project or remaining portion thereof unfit for use its mortgagee, and occupancy in accordance with standards generally applicable such claim is payable separately to first-class high-rise office buildings in downtown Boston, this Lease shall, at the option of Tenant (provided such option Lessee. All Rent shall be exercised by Tenant giving notice to Landlord within sixty (60) days from the date Tenant has been notified in writing of such taking or condemnation) forthwith cease and terminate apportioned as of the date of the taking. If the Leased Premises (such termination, or any material part thereof covering at least one-fourth of the Net Rentable Area of Leased Premises) or a substantial portion of the Building (including access to the Building that renders the Building unfit for use and occupancy in accordance with standards generally applicable to first-class high-rise office buildings in downtown Boston) shall be taken or condemned for any public purpose, this Lease shall, at the option of Landlord (provided such option shall be exercised by Landlord giving of notice to Tenant within sixty (60) days from the date Landlord has been notified in writing of such taking or condemnation) forthwith cease and terminate as of the date of the such taking. Landlord’s right to terminate as set forth in the immediately preceding sentence , whichever shall be effective only if Landlord terminates the leases of all tenants, in the Office Section of the Building that are similarly situated with respect to the taking or condemnation (regardless of the amount of space demised to such tenants). All proceeds from any taking or condemnation of the Leased Premises shall belong to and be paid to Landlord, and Tenant hereby assigns to Landlord its interest in said proceeds, subject to the rights of any holder of any Mortgage; provided, however, that Landlord shall cooperate with Tenant if Tenant seeks, in a separate proceeding, to recover, at its cost and expense, compensation for its moving and relocation expenses and Tenant’s Property. In no event shall any such recovery by Tenant have the effect of diminishing or delaying the award payable to Landlord on account of any taking or condemnation. If in any such case the Leased Premises or any portion thereof are rendered unfit for use and occupation in accordance with standards generally applicable to first-class high-rise office buildings in downtown Boston (or any common areas or facilities required for access to the Leased Premises are taken) and this Lease is not terminated, Landlord shall use due diligence (following the expiration of the period in which Landlord may terminate this Lease pursuant to the foregoing provisions of this Section and subject to the extent and availability of the condemnation proceeds received by Landlord) to put the Leased Premises, or any common areas or facilities required for access to the Leased Premises, or what may remain of either (excluding any items installed or paid for by Tenant which Tenant may be required to remove pursuant to Section 4.07), into proper condition for use and occupation, and a just proportion of the Gross Rent according to the nature and extent of the taking shall be abated until the Leased Premises or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Leased Premises, a just proportion of the Gross Rent shall be abated for the remainder of the Termfirst occur.

Appears in 1 contract

Samples: Office Lease (Atara Biotherapeutics, Inc.)

Condemnation and Loss or Damage. (a) If the Leased Premises (whole or any material part thereof covering at least oneof ------------------------------- the Premises or Project shall be taken by power of eminent domain or condemned by any competent authority for any public or quasi-fourth public use or purpose, or if any adjacent property or street shall be so taken or condemned, or reconfigured or vacated by such authority in such manner as to require the use, reconstruction or remodeling of any part of the Net Rentable Area Premises or Project, or if Lessor shall grant a deed or other instrument in lieu of Leased Premisessuch taking by eminent domain or condemnation, Lessor shall have the option to terminate this Lease upon ninety (90) days' notice, provided such notice is given no later than one hundred eighty (180) days after the date of such taking, condemnation, reconfiguration, vacation, deed or any portion other instrument. If more than twenty-five percent (25%) of the Building (including rentable square feet of the Premises is taken, or if access to the Leased PremisesPremises is substantially impaired, Lessee shall have the option to terminate this Lease upon ninety (90) days' notice, provided such notice is given no later than one hundred eighty (180) days after the date of such taking. Lessor shall be taken entitled to receive the entire award or condemned payment in connection therewith, except that Lessee shall have the right to file any separate claim available to Lessee for any public purpose taking of Lessee's personal property and fixtures belonging to Lessee and removable by Lessee upon expiration of the Lease Term pursuant to the terms of this Lease, and for moving expenses, so long as such an extent as claim does not diminish the award available to render Lessor, its ground lessor with respect to the Leased Premises Project or remaining portion thereof unfit for use its mortgagee, and occupancy in accordance with standards generally applicable such claim is payable separately to first-class high-rise office buildings in downtown Boston, this Lease shall, at the option of Tenant (provided such option Lessee. All Rent shall be exercised by Tenant giving notice to Landlord within sixty (60) days from the date Tenant has been notified in writing of such taking or condemnation) forthwith cease and terminate apportioned as of the date of the taking. If the Leased Premises (such termination, or any material part thereof covering at least one-fourth of the Net Rentable Area of Leased Premises) or a substantial portion of the Building (including access to the Building that renders the Building unfit for use and occupancy in accordance with standards generally applicable to first-class high-rise office buildings in downtown Boston) shall be taken or condemned for any public purpose, this Lease shall, at the option of Landlord (provided such option shall be exercised by Landlord giving of notice to Tenant within sixty (60) days from the date Landlord has been notified in writing of such taking or condemnation) forthwith cease and terminate as of the date of the such taking. Landlord’s right to terminate as set forth in the immediately preceding sentence , whichever shall be effective only if Landlord terminates the leases of all tenants, in the Office Section of the Building that are similarly situated with respect to the taking or condemnation (regardless of the amount of space demised to such tenants). All proceeds from any taking or condemnation of the Leased Premises shall belong to and be paid to Landlord, and Tenant hereby assigns to Landlord its interest in said proceeds, subject to the rights of any holder of any Mortgage; provided, however, that Landlord shall cooperate with Tenant if Tenant seeks, in a separate proceeding, to recover, at its cost and expense, compensation for its moving and relocation expenses and Tenant’s Property. In no event shall any such recovery by Tenant have the effect of diminishing or delaying the award payable to Landlord on account of any taking or condemnation. If in any such case the Leased Premises or any portion thereof are rendered unfit for use and occupation in accordance with standards generally applicable to first-class high-rise office buildings in downtown Boston (or any common areas or facilities required for access to the Leased Premises are taken) and this Lease is not terminated, Landlord shall use due diligence (following the expiration of the period in which Landlord may terminate this Lease pursuant to the foregoing provisions of this Section and subject to the extent and availability of the condemnation proceeds received by Landlord) to put the Leased Premises, or any common areas or facilities required for access to the Leased Premises, or what may remain of either (excluding any items installed or paid for by Tenant which Tenant may be required to remove pursuant to Section 4.07), into proper condition for use and occupation, and a just proportion of the Gross Rent according to the nature and extent of the taking shall be abated until the Leased Premises or such remainder shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Leased Premises, a just proportion of the Gross Rent shall be abated for the remainder of the Termfirst occur.

Appears in 1 contract

Samples: Office Lease (Plumtree Software Inc)

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