Common use of Condemnation/Eminent Domain Clause in Contracts

Condemnation/Eminent Domain. In the event the whole of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, 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 is sold in lieu of or to prevent such taking, then Landlord and Tenant shall each have the right to terminate this Lease (by written notice to the other given no later than 10 days after Landlord notifies Tenant of such taking) effective as of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streets, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restoration.

Appears in 4 contracts

Samples: Lease Agreement (Zoned Properties, Inc.), Lease Agreement (Zoned Properties, Inc.), Lease Agreement (Zoned Properties, Inc.)

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Condemnation/Eminent Domain. In the event that the Premises or any part thereof, or the whole or any part of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereofBuilding, shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the right event that a material part of the Premises or the means of access thereto shall be so taken, appropriated or condemned, and in either case, the remainder of the Premises or the mode of access thereto is, in Tenant’s reasonable judgment, unsuitable for the operation of Tenant’s business in the Premises, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the Term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the Premises or shall be deprived of a substantial part of the means of access thereto, provided, however, that Landlord may in Landlord’s notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event of any access points to adjoining streetssuch termination, this Lease and the Term hereof shall expire as of such effective termination date as though that were the Expiration Date as stated in Exhibit 1, and the Yearly Rent (together with Operating Costs Excess and Tax Excess) shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise apportioned as of such date. If neither party (having the right of appropriationso to do) elects to terminate Landlord will, condemnation or eminent domainwith reasonable diligence and at Landlord’s expense, or is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use restore the remainder of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as remainder of the date possession is required means of access, as nearly as practicably may be to be surrendered the same condition as obtained prior to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, appropriation or condemnation in which event (i) the Total Rentable Area shall be equitably adjusted, (ii) a just proportion of the Yearly Rent, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the Premises and the means of access thereto, shall be permanently abated, and (iii) a just proportion of the remainder of the Yearly Rent, according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the Premises and the means of access thereto, shall be abated until what remains of the Premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any award specifically reimbursing Tenant for moving or relocation expenses or for Tenant’s personal property, or for the unamortized value of any leasehold improvements paid for by Tenant (in excess of any Landlord contribution), there are expressly reserved to Landlord all rights to compensation and damages created, accrued or accruing by reason of any such taking, appropriation or condemnation, in implementation and in confirmation of which Tenant does hereby acknowledge that Landlord shall be entitled to receive the entire amount all such compensation and damages, grant to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agree to execute and deliver all and whatever further instruments of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed assignment as Landlord may from time to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensestime reasonably request. In the event of any taking of the amount Premises or any part thereof for temporary (i.e., not in excess of property or the type of estate taken one (1) year) use, (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Tenant shall be entitled to receive for itself any award made to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed extent allocable to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived in respect of possession such taking on account of said such use, provided, that if any taking is for a period extending beyond the Term of this Lease, such award shall be apportioned between Landlord and restorationTenant as of the Expiration Date or earlier termination of this Lease.

Appears in 4 contracts

Samples: Confidentiality Agreement (Hubspot Inc), , and Attornment Agreement (Hubspot Inc), Confidentiality Agreement (Hubspot Inc)

Condemnation/Eminent Domain. In the event the whole of the Premises, Building, Project and/or Common Areas, as the case may be, and/or such part thereof as shall substantially interfere with Tenant’s 's use and occupation thereof, 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 is sold in lieu of or to prevent such taking, then Landlord and Tenant shall each have the right to terminate this Lease (by written notice to the other given no later than 10 days after Landlord notifies Tenant of such taking) effective as of the date possession is required to be surrendered to said authority. In the event the whole of the Premises, Building, Project and/or Common Areas, as the case may be, or such part thereof as shall substantially interfere with Landlord's use and occupation thereof, or if any access points to adjoining streets, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s 's moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s 's business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith)condemnation, and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restoration.

Appears in 3 contracts

Samples: Lease Agreement (Zoned Properties, Inc.), Lease Agreement (Zoned Properties, Inc.), Lease Agreement (Zoned Properties, Inc.)

Condemnation/Eminent Domain. In the event that the whole of Building, the Premises, and/or such part Property or any portion thereof as shall substantially interfere with Tenant’s use and occupation thereof, shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation, then (and in any such event) this Lease and the term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by the Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the right event that the entire Premises or a portion of the Premises or the access to the Premises shall be so taken, appropriated or condemned such that Tenant shall be precluded from effectively utilizing the Premises, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the Term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the Premises or shall be deprived of a substantial part of the means of access thereto, provided, however, that Landlord may in Landlord’s notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event of any access points to adjoining streetssuch termination, this Lease and the Term hereof shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise expire as of the effective termination date as fully and completely as if such date were the date originally fixed herein for the end of the Term of this Lease. If neither party (having the right of appropriationso to do) elects to terminate, condemnation or eminent domainLandlord will, or is sold in lieu of or to prevent such takingwith reasonable diligence and at Landlord’s expense, and such taking shall substantially interfere with Tenant’s use restore the remainder of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as remainder of the date possession is required means of access, as nearly as practical to be surrendered the same condition as obtained prior to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, appropriation or condemnation in which event (i) a just proportion of the Annual Base Rent, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the Premises and the means of access thereto, shall be permanently abated, and (ii) a just proportion of the remainder of the Annual Base Rent, according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the Premises and the means of access thereto, shall be abated until what remains of the Premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any award specifically reimbursing Tenant for moving or relocation expenses and except for any award specifically made to Tenant for interruption of Tenant’s business, there are expressly reserved to Landlord all rights to compensation and damages created, accrued or accruing by reason of any such taking, appropriation or condemnation. In implementation and in confirmation of which Tenant does hereby acknowledge that Landlord shall be entitled to receive the entire amount and retain all such compensation and damages, grants to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agrees to execute and deliver all and whatever further instruments of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed assignment as Landlord may from time to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensestime request. In the event of any taking of the amount of property Premises or the type of estate taken any part thereof for temporary use, (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Tenant shall be entitled to receive for itself any award made for such use, provided, that if any taking is for a period extending beyond the entire amount Term of this Lease, such award shall be apportioned between Landlord and Tenant as of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationTerm Expiration Date.

Appears in 3 contracts

Samples: Lease Agreement (Allena Pharmaceuticals, Inc.), Lease Agreement (Allena Pharmaceuticals, Inc.), Lease Agreement (Allena Pharmaceuticals, Inc.)

Condemnation/Eminent Domain. In Subject to the Credit Agreement, upon obtaining knowledge of the institution of any proceedings for the condemnation of the Mortgaged Property, or any portion thereof, Mortgagor will notify Mortgagee of the pendency of such proceedings. Mortgagee is hereby authorized and empowered by Mortgagor to settle or compromise any claim in connection with such condemnation and to receive all awards and proceeds thereof to be applied pursuant to Section 4.7(c) of the Credit Agreement. Notwithstanding the preceding sentence, provided no Event of Default shall have occurred and be continuing, but expressly subject to the provisions of Section 4.7(c) of the Credit Agreement (including any right set forth therein of Mortgagor to use the proceeds to repair or replace the Mortgaged Property), (i) Mortgagor shall, at its expense, diligently prosecute any proceeding relating to such condemnation, (ii) Mortgagor may settle or compromise any claims in connection therewith and (iii) Mortgagor may receive any awards or proceeds thereof, provided that Mortgagor shall (a) in the event the whole of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use a partial taking of an individual Mortgaged Property and occupation thereof, 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 is sold in lieu of or to prevent such taking, then Landlord and Tenant shall each have the right to terminate this Lease (by written notice to the other given no later than 10 days after Landlord notifies Tenant of such taking) effective as of the date possession is required extent reasonably possible promptly repair and restore Mortgaged Property to be surrendered to said authority. In the event any access points to adjoining streets, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same its condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess condemnation, regardless of the amount of the whether any award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived received or whether such award is sufficient to pay for the costs of possession on account such repair and restoration or (b) otherwise comply with the provisions of said taking and restorationthe Credit Agreement relating to the disposition of Net Cash Proceeds from a Recovery Event or otherwise.

Appears in 3 contracts

Samples: Credit Agreement (Sprague Resources LP), Credit Agreement (Sprague Resources LP), Credit Agreement (Sprague Resources LP)

Condemnation/Eminent Domain. In case during the event Term all or any substantial part of the whole Premises or the Building are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, this Lease shall terminate at Landlord’s election, which may be made (notwithstanding that Landlord’s entire interest may have been divested) by notice given to Tenant within ninety (90) days after the election to terminate arises, specifying the effective date of termination. The effective date of termination specified by Landlord shall not be less than thirty (30) days after the date of notice of such termination. Unless terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect following any such taking, subject, however, to the following provisions. If in any such case the Premises are rendered unfit for use and occupation and this Lease is not terminated, Landlord shall use reasonable diligence (following the expiration of the period in which Landlord may terminate this Lease pursuant to the foregoing provisions of this Section 6.2) to put the Premises, or what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required to remove pursuant to Section 5.10), into proper condition for use and occupation and a just proportion of the Annual Fixed Rent and Additional Rent for Operating Expenses according to the nature and extent of the injury shall be abated until the 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 Premises, a just proportion of the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be abated for the remainder of the Term. If the taking of a part of the Premises and/or such part thereof as shall parking substantially interfere and adversely interferes with Tenant’s use and occupation thereof, 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 is sold in lieu of or ability to prevent such taking, continue its business operations then Landlord and Tenant shall each have the right to may terminate this Lease (by on written notice to the other Landlord given no later not more than 10 thirty (30) days after Landlord notifies such taking and effective on the earlier of: (i) the date when title vests; (ii) the date Tenant of such takingis dispossessed by the condemning authority; or (iii) effective as sixty (60) days following notice to Tenant of the date possession when vesting or dispossession is required to be surrendered to said authority. In the event any access points to adjoining streets, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationoccur.

Appears in 2 contracts

Samples: Office Lease (Altus Pharmaceuticals Inc.), Altus Pharmaceuticals Inc.

Condemnation/Eminent Domain. In If any portion of the event building or real property of which the whole Premises are a part shall be taken under eminent domain or condemnation proceedings, or if suit or other action shall be instituted for the taking or condemnation thereof, or if in lieu of any formal condemnation proceedings or actions, Landlord shall grant an option to purchase and or shall sell and convey the said building or real estate or any portion thereof, to the governmental or other public authority, agency, body or public utility, seeking to take the said land and Premises or any portion thereof, then this Lease, at the option of Landlord, shall terminate, and the term hereof shall end as of such date as Landlord shall fix by notice in writing. Tenant shall have the right to claim or be entitled to any portion of any amount which may be awarded as damages or paid as the result of such condemnation proceedings or paid as the purchase price for such option, sale or conveyance in lieu of formal condemnation proceedings equal to the cost of construction of the Premises. All rights of Landlord to damages, if any, related to the value of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise to the extent of the right construction cost, are hereby assigned to Tenant. Landlord agrees to execute and deliver any instruments, at the expense of appropriationTenant, as may be deemed necessary to expedite any condemnation or eminent domain, or is sold in lieu of proceedings or to prevent effectuate a proper transfer of title to such takinggovernmental or other public authority, then Landlord and agency, body or public utility seeking to take or acquire the building or any portion thereof. Tenant shall each have the right no claim to terminate this Lease (by written notice any value attributed to the other given no later than 10 days after Landlord notifies real estate upon which the Premises are situated. Tenant of such taking) effective as of the date possession is required agrees to be surrendered to said authority. In the event any access points to adjoining streets, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of vacate the Premises, then remove all Tenant's personal property therefrom and deliver up peaceable possession thereof to Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to other party designated by Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restoration.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

Condemnation/Eminent Domain. In the event the whole If any portion of the PremisesBuilding of which the Premises are a part or any part of the adjacent grounds is taken under eminent domain or condemnation proceedings, and/or such part thereof as or if suit or other action shall substantially interfere with Tenant’s use and occupation be instituted for the taking or condemnation thereof, 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 is sold if in lieu of any formal condemnation proceedings or actions, the Landlord grants an option to prevent such takingpurchase and or sells and conveys the Premises or any portion thereof to the governmental or other public authority, agency, body or public utility seeking to take the Premises or any portion thereof, then this Lease, at the option of the Landlord, will terminate, and the term hereof will end as of such date as the Landlord and fixes by notice in writing. The Tenant shall each will have the no claim or right to terminate this Lease (by written notice claim or be entitled to any portion of any amount which may be awarded as damages or paid as the other given no later than 10 days after Landlord notifies Tenant result of such taking) effective as of condemnation proceedings or paid us the date possession is required to be surrendered to said authority. In the event any access points to adjoining streetspurchase price for such option, shall be taken for any public sale or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold conveyance in lieu of or to prevent such takingformal condemnation proceedings. The Tenant may, however, file a claim for any taking of fixtures and improvements owned by the Tenant, and such taking shall substantially interfere with Tenantfor moving expenses which are separately awarded and do not decrease the Landlord’s use of award for the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authorityland and improvements taken. Except as provided belowin the preceding sentence, all rights of the Tenant shall not assert to damages, if any, are hereby assigned to the Landlord. The Tenant will execute and deliver any claim against instrument, at the expense of the Landlord, as may be deemed necessary to expedite any condemnation proceedings or to effectuate a proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the Premises or any portion thereof. The Tenant will vacate the Premises, remove all of the Tenant’s personal property therefrom and deliver up peaceable possession thereof to the Landlord or to such other party designated by the taking authority for any compensation because Landlord. The Tenant will repay the Landlord tor such costs, expenses, damages and losses as the Landlord may incur by reason 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationbreach hereof.

Appears in 2 contracts

Samples: Lease Agreement (Zynerba Pharmeceuticals, Inc.), Lease Agreement (Zynerba Pharmeceuticals, Inc.)

Condemnation/Eminent Domain. In the event the whole If any portion of the Premises, and/or such premises of which the leased premises are a part thereof as shall substantially interfere with Tenant’s use and occupation thereof, shall be taken for any public under eminent domain or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainproceedings, or is sold if suit or other action shall be instituted for the taking or condemnation thereof, or if in lieu of any formal condemnation proceedings or actions, the Landlord shall grant an option to prevent such takingpurchase and or shall sell and convey the said premises or any portion thereof, to the governmental or other public authority, agency, body or public utility, seeking to take said land and premises or any portion thereof, then this Lease, at the option of the Landlord, shall terminate, and the term hereof shall end as of such date as the Landlord and shall fix by notice in writing. The Tenant shall each have the no claim or right to terminate this Lease (by written notice claim or be entitled to any portion of any amount that may be awarded as damages or paid as the other given no later than 10 days after Landlord notifies Tenant result of such taking) effective condemnation proceedings or paid as of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streetspurchase price for such option, shall be taken for any public sale or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold conveyance in lieu of formal condemnation proceedings. All rights of the Tenant to damages, if any, are hereby assigned to the Landlord. The Tenant agrees to execute and deliver any instruments, at the expense of the Landlord, as may be deemed necessary to expedite any condemnation proceedings or to prevent effectuate a proper transfer of title to such takinggovernmental or other public authority, agency, body or public utility seeking to take or acquire the said lands and such taking shall substantially interfere with premises of any portion thereof. The Tenant agrees to vacate the said premises, remove all of the Tenant’s use personal property therefrom and deliver up peaceable possession thereof to the Landlord or to such other party designated by the Landlord. The Tenant shall repay the Landlord for such costs, expenses, damages and losses as the Landlord may incur by reason of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationbreach hereof.

Appears in 2 contracts

Samples: Lease Agreement for Rectory, Lease Agreement for Rectory

Condemnation/Eminent Domain. In the event the whole of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, shall be taken for If any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, then Landlord and Tenant shall each have the right to terminate this Lease (by written notice to the other given no later than 10 days after Landlord notifies Tenant of such taking) effective as of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streets, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises whichleased herein, or if which the Premises are a part is taken under eminent domain or condemnation proceedings, or actions, the Landlord grants an option to purchase and/or sells and conveys the Premises or any portion thereof, to the governmental or other public authority, agency, body or public utility, seeking to take said land and Premises or any portion thereof, then this lease, at the option of the Landlord, will terminate, and the term hereof will end as of such date as the Landlord fixes by notice in writing. The Tenant shall will have been deprived no claim or right to claim or be entitled to any portion of any amount which may be awarded as damages or paid as the result of such condemnation proceedings or paid as the purchase price for such option, sale or conveyance in lieu of formal condemnation proceedings and all rights of the Tenant to damages, if any, are hereby assigned to the Landlord. The Tenant will execute and deliver any proceedings or to effectuate a proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the Premises or any portion thereof. The Tenant will vacate the Premises and remove all of it’s personal property therefrom and deliver up peaceable possession on account thereof to the Landlord or to such other party designated by the Landlord. Failure by the Tenant to comply with any provisions in this clause will require the Tenant to pay to landlord such costs, expenses, damages and losses as the Landlord may incur by reason of said taking and restorationthe Tenant’s breach hereof.

Appears in 2 contracts

Samples: Lease Agreement (Castellum, Inc.), Lease Agreement (Castellum, Inc.)

Condemnation/Eminent Domain. In case during the event Term all or any substantial part of the whole Premises or the Building are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, this Lease shall terminate at Landlord’s election, which may be made (notwithstanding that Landlord’s entire interest may have been divested) by notice given to Tenant within ninety (90) days after the election to terminate arises, specifying the effective date of termination. The effective date of termination specified by Landlord shall not be less than fifteen (15) nor more than thirty (30) days after the date of notice of such termination. Unless terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect following any such taking, subject, however, to the following provisions. If in any such case the Premises are rendered unfit for use and occupation and this Lease is not terminated, Landlord shall use reasonable diligence (following the expiration of the period in which Landlord may terminate this Lease pursuant to the foregoing provisions of this Section 6.2) to put the Premises, or what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required to remove pursuant to Section 5.10), into proper condition for use and occupation and a just proportion of the Annual Fixed Rent and Additional Rent for Operating Expenses according to the nature and extent of the injury shall be abated until the 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 Premises, and/or such a just proportion of the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be abated for the remainder of the Term. If the taking of a part thereof as shall of the Premises substantially interfere and adversely interferes with Tenant’s use and occupation thereof, 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 is sold in lieu of or ability to prevent such taking, continue its business operations then Landlord and Tenant shall each have the right to may terminate this Lease (by on written notice to the other Landlord given no later not more than 10 thirty (30) days after Landlord notifies such taking and effective on the earlier of: (i) the date when title vests; (ii) the date Tenant of such takingis dispossessed by the condemning authority; or (iii) effective as sixty (60) days following notice to Tenant of the date possession when vesting or dispossession is required to be surrendered to said authority. In the event any access points to adjoining streets, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationoccur.

Appears in 2 contracts

Samples: Sublease Agreement (Biofrontera AG), Sublease Agreement (Biofrontera AG)

Condemnation/Eminent Domain. In the event that the Premises or any part thereof, or the whole or any part of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereofBuilding, shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the right event that a material part of the Premises or the means of access thereto shall be so taken, appropriated or condemned, and in either case, the remainder of the Premises or the mode of access thereto is, in Tenant’s reasonable judgment, unsuitable for the operation of Tenant’s business in the Premises, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the Term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the Premises or shall be deprived of a substantial part of the means of access thereto, provided, however, that Landlord may in Landlord’s notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event of any access points to adjoining streetssuch termination, this Lease and the Term hereof shall expire as of such effective termination date as though that were the Expiration Date as stated in Exhibit 1, and the Yearly Rent (together with Operating Costs Excess and Tax Excess) shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise apportioned as of such date. If neither party (having the right of appropriationso to do) elects to terminate Landlord will, condemnation or eminent domainwith reasonable diligence and at Lxxxxxxx's expense, or is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use restore the remainder of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as remainder of the date possession is required means of access, as nearly as practicably may be to be surrendered the same condition as obtained prior to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, appropriation or condemnation in which event (i) the Total Rentable Area shall be equitably adjusted, (ii) a just proportion of the Yearly Rent, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the Premises and the means of access thereto, shall be permanently abated, and (iii) a just proportion of the remainder of the Yearly Rent, according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the Premises and the means of access thereto, shall be abated until what remains of the Premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any award specifically reimbursing Tenant for moving or relocation expenses or for Tenant’s personal property, or for the unamortized value of any leasehold improvements paid for by Tenant (in excess of any Landlord contribution), there are expressly reserved to Landlord all rights to compensation and damages created, accrued or accruing by reason of any such taking, appropriation or condemnation, in implementation and in confirmation of which Tenant does hereby acknowledge that Landlord shall be entitled to receive the entire amount all such compensation and damages, grant to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agree to execute and deliver all and whatever further instruments of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed assignment as Landlord may from time to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensestime reasonably request. In the event of any taking of the amount Premises or any part thereof for temporary (i.e., not in excess of property or the type of estate taken one (1) year) use, (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Tenant shall be entitled to receive for itself any award made to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed extent allocable to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived in respect of possession such taking on account of said such use, provided, that if any taking is for a period extending beyond the Term of this Lease, such award shall be apportioned between Landlord and restorationTenant as of the Expiration Date or earlier termination of this Lease.

Appears in 2 contracts

Samples: Confidentiality Agreement (Hubspot Inc), Confidentiality Agreement (Hubspot Inc)

Condemnation/Eminent Domain. In the event the whole If any portion of the Premises, and/or such premises of which the leased premises are a part thereof as shall substantially interfere with Tenant’s use and occupation thereof, shall be taken for any public under eminent domain or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainproceedings, or is sold if suit or other action shall be instituted for the taking or condemnation thereof, or if in lieu of any formal condemnation proceedings or actions, the Landlord shall grant an option to prevent such takingpurchase and or shall sell and convey the said premises or any portion thereof, to the governmental or other public authority, agency, body or public utility, seeking to take said land and premises or any portion thereof, then this Lease, at the option of the Landlord, shall terminate, and the term hereof shall end as of such date as the Landlord and shall fix by notice in writing. The Tenant shall each have the no claim or right to terminate this Lease (by written notice claim or be entitled to any portion of any amount which may be awarded as damages or paid as the other given no later than 10 days after Landlord notifies Tenant result of such taking) effective condemnation proceedings or paid as of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streetspurchase price for such option, shall be taken for any public sale or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold conveyance in lieu of formal condemnation proceedings. All rights of the Tenant to damages, if any, are hereby assigned to the Landlord. The Tenant agrees to execute and deliver any instruments, at the expense of the Landlord, as may be deemed necessary to expedite any condemnation proceedings or to prevent effectuate a proper transfer of title to such takinggovernmental or other public authority, agency, body or public utility seeking to take or acquire the said lands and such taking shall substantially interfere with premises of any portion thereof. The Tenant agrees to vacate the said premises, remove all of the Tenant’s use personal property therefrom and deliver up peaceable possession thereof to the Landlord or to such other party designated by the Landlord. The Tenant shall repay the Landlord for such costs, expenses, damages and losses as the Landlord may incur by reason of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationbreach hereof.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

Condemnation/Eminent Domain. In the event that the Premises or any part thereof, or the whole or any material part of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereofBuilding, shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the right event that a material part of the Premises or the means of access thereto shall be so taken, appropriated or condemned, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the Term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the Premises or shall be deprived of a substantial part of the means of access thereto, provided, however, that Landlord may in Landlord’s notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event of any access points to adjoining streetssuch termination, this Lease and the Term hereof shall expire as of such effective termination date as though that were the Expiration Date as stated in Exhibit 1, and the Yearly Rent (together with Operating Costs Excess and Tax Excess) shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise apportioned as of such date. If neither party (having the right of appropriationso to do) elects to terminate Landlord will, condemnation or eminent domainwith reasonable diligence and at Landlord’s expense, or is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use restore the remainder of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as remainder of the date possession is required means of access, as nearly as practicably may be to be surrendered the same condition as obtained prior to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, appropriation or condemnation in which event (i) the Total Rentable Area shall be equitably adjusted, (ii) a just proportion of the Yearly Rent, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the Premises and the means of access thereto, shall be permanently abated, and (iii) a just proportion of the remainder of the Yearly Rent, according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the Premises and the means of access thereto, shall be abated until what remains of the Premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any award specifically reimbursing Tenant for moving or relocation expenses, there are expressly reserved to Landlord all rights to compensation and damages created, accrued or accruing by reason of any such taking, appropriation or condemnation, in implementation and in confirmation of which Xxxxxx does hereby acknowledge that Landlord shall be entitled to receive the entire amount all such compensation and damages, grant to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agree to execute and deliver all and whatever further instruments of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed assignment as Landlord may from time to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensestime request. In the event of any taking of the amount Premises or any part thereof for temporary (i.e., not in excess of property or the type of estate taken one (1) year) use, (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Tenant shall be entitled to receive for itself any award made to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed extent allocable to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived in respect of possession such taking on account of said such use, provided, that if any taking is for a period extending beyond the Term of this Lease, such award shall be apportioned between Landlord and restorationTenant as of the Expiration Date or earlier termination of this Lease.

Appears in 2 contracts

Samples: Commencement Date Agreement (CarGurus, Inc.), Commencement Date Agreement (CarGurus, Inc.)

Condemnation/Eminent Domain. In the event that the premises or any part thereof, or the whole or any part of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereofProject, shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each have be entitled to compensation, then (and in any such event) this Lease and the right term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate this Lease which shall be given by Landlord to Tenant within sixty (by written 60) days following the date on which Landlord shall have received notice to the other given no later than 10 days after Landlord notifies Tenant of such taking) effective as of the date possession is required to be surrendered to said authority, appropriation or condemnation. In the event any that a substantial part of the premises or of the means of access points to adjoining streets, thereto shall be taken for any public so taken, appropriated or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premisescondemned, then (and in any such event) this Lease and the term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord or within sixty (60) days following the date on which Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the term thereof shall terminate the date on which Tenant shall be required to vacate any part of the premises or shall be deprived of a substantial part of the means of access thereto. In the event of any such termination, this Lease and the term hereof shall expire as of such effective termination date as though that were the Termination Date as stated in Exhibit I, and the Yearly Rent shall be apportioned as of such date. If neither party (having the right so to do) elects to terminate Landlord will, with reasonable diligence and at Landlord's expense (but only to the extent of taking proceeds made available to Landlord), restore the remainder of the premises, or the remainder of the means of access, as nearly as practicably may be to the same condition as obtained prior to such taking, appropriation or condemnation in which event (i) the Total Rentable Area shall be adjusted as in Exhibit 5 provided, (ii) a just proportion of the rent and additional rent, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the premises and the means of access thereto, shall be permanently abated, and (iii) a just proportion of the remainder of the Yearly Rent, according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the premises and the means of access thereto, shall be abated until what remains of the premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any award specifically reimbursing Tenant for moving or relocation expenses, there are expressly reserved to Landlord all rights to compensation and damages created, accrued or accruing by reason of any such taking, appropriation or condemnation, in implementation and in confirmation of which Tenant does hereby acknowledge that Landlord shall be entitled to receive the entire amount all such compensation and damages, grant to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agree to execute and deliver all and whatever further instruments of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed assignment as Landlord may from time to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensestime request. In the event of any taking of the amount premises or any part thereof for temporary use: (ie., a taking for a period of property or the type of estate taken less than one hundred eighty (180) days) (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Tenant shall be entitled to receive for itself any award made for such use, provided, that if any taking is for a period extending beyond the entire amount term of this Lease, such award shall be apportioned between Landlord and Tenant as of the award without deduction for any estate Termination Date or interest earlier termination of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationthis Lease.

Appears in 1 contract

Samples: Sublease Agreement (Breakaway Solutions Inc)

Condemnation/Eminent Domain. In case during the event Term all or any substantial part of the whole Premises or the Building (and such taking of the Building materially and adversely affects Tenant's occupancy of or access to the Premises) are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, this Lease shall terminate at Landlord's election (provided that at such time Landlord is in the process of terminating the leases of any tenants that are similarly situated with Tenant), which may be made (notwithstanding that Landlord's entire interest may have been divested) by notice given to Tenant within ninety (90) days after the election to terminate arises, specifying the effective date of termination. The effective date of termination specified by Landlord shall not be less than fifteen (15) nor more than thirty (30) days after the date of notice of such termination. Unless terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect following any such taking, subject, however, to the following provisions. If in any such case the Premises are rendered unfit for use and occupation and this Lease is not terminated, Landlord shall use reasonable diligence (following the expiration of the period in which Landlord may terminate this Lease pursuant to the foregoing provisions of this Section 6.2) to put the Premises, or what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required to remove pursuant to Section 5.10), into proper condition for use and occupation and a just proportion of the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes according to the nature and extent of the injury shall be abated until the 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 Premises, and/or such a just proportion of the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be abated for the remainder of the Term. If the taking of a part thereof as shall of the Premises or the Building substantially interfere and adversely interferes with Tenant’s use and occupation thereof, 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 is sold in lieu of or 's ability to prevent such taking, continue its business operations then Landlord and Tenant shall each have the right to may terminate this Lease (by on written notice to the other Landlord given no later not more than 10 thirty (30) days after Landlord notifies such taking and effective on the earlier of: (i) the date when title vests; (ii) the date Tenant of such takingis dispossessed by the condemning authority; or (iii) effective as sixty (60) days following notice to Tenant of the date possession when vesting or dispossession is required to be surrendered to said authority. In the event any access points to adjoining streets, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationoccur.

Appears in 1 contract

Samples: Office Lease (Mac-Gray Corp)

Condemnation/Eminent Domain. In the event that the whole or any material part (i.e., twenty-five percent (25%) or more, or a lesser portion if access, parking or other essential Property functions or compliance with zoning requirements shall be materially adversely affected) of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, Demised Premises shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by the Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the right event that more than twenty-five percent (25%) of the floor area of the Demised Premises shall be so taken, appropriated or condemned, or if, by reason of such taking, acquisition or condemnation, Tenant no longer has access to the Demised Premises, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the Term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the Demised Premises or shall be deprived of a substantial part of the means of access thereto, provided, however, that Landlord may in Landlord's notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event of any such termination, this Lease and the Term hereof shall expire as of the effective Expiration Date as fully and completely as if such date were the date herein originally scheduled as the Expiration Date. If neither party (having the right so to do) elects to terminate, Landlord will, with reasonable diligence and at Landlord's expense, restore the remainder of the Demised Premises, or the remainder of the means of access, as nearly as practicably may be to the same condition as obtained prior to such taking, appropriation or condemnation in which event (i) a just proportion of the Yearly Fixed Rent and Additional Rent, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the Demised Premises and the means of access points to adjoining streetsthereto, shall be taken permanently abated, and (ii) a just proportion of the remainder of the Yearly Fixed Rent and Additional Rent, according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the Demised Premises and the means of access thereto, shall be abated until what remains of the Demised Premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any public award specifically reimbursing Tenant for moving or quasi-public purpose relocation expenses and Tenant's removable fixtures and equipment, there are expressly reserved to Landlord all rights to compensation and damages created, accrued or accruing by reason of any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, appropriation or condemnation, in implementation and such taking shall substantially interfere with Tenant’s use in confirmation of the Premises, then Landlord or which Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, and does hereby acknowledge that Landlord shall be entitled to receive the entire amount and retain all such compensation and damages, grants to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agrees to execute and deliver all and whatever further instruments of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed assignment as Landlord may from time to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensestime reasonably request. In the event of any taking of the amount of property Demised Premises or the type of estate taken any part thereof for temporary use, (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Tenant shall be entitled to receive for itself any award made for such use, provided, that if any taking is for a period extending beyond the entire amount Term of this Lease, such award shall be apportioned between Landlord and Tenant as of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationExpiration Date.

Appears in 1 contract

Samples: Lease (Genzyme Corp)

Condemnation/Eminent Domain. In case during the event Term all or any substantial part of the whole Premises or the Building or material access thereto are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, this Lease shall terminate at Landlord's election, which may be made (notwithstanding that Landlord's entire interest may have been divested) by notice given to Tenant within 90 days after the election to terminate arises, specifying the effective date of termination. The effective date of termination specified by Landlord shall not be less than 15 nor more than 30 days after the date of notice of such termination. Unless terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect following any such taking, subject, however, to the following provisions. If in any such case any portion of the Premises are is rendered unfit for use and occupation 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) to put the Premises, or what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required to remove pursuant to Section 5.12), into proper condition for use and occupation and a just proportion of the Annual Fixed Rent and additional rent according to the nature and extent of the injury and its effect on Tenant's business operations shall be abated until the 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 Premises, and/or such part thereof as shall substantially interfere with Tenant’s use a just proportion of the Fixed Rent and occupation thereof, additional rent shall be taken abated for any public or quasi-public purpose by any lawful power or authority by exercise the remainder of the right of appropriationTerm. Notwithstanding the foregoing, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, then Landlord and Tenant shall each have the right to terminate this Lease lease following a taking by eminent domain (or other transfer in lieu thereof): (i) if more than twenty-five (25%) of the Premises then occupied and in use by Tenant are taken, or (ii) if access to the Premises is denied as a result thereof and Landlord fails or is unable to provide reasonable substitute access. Tenant may exercise such termination right, if at all, by giving written notice to the other given no later Landlord within thirty (30) days following such taking, specifying a termination date not more than 10 sixty (60) days nor less than thirty (30) days after Landlord notifies Tenant of the day on which such taking) termination notice is received, and the termination shall be effective as of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streets, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationdate.

Appears in 1 contract

Samples: Pure Atria Corp

Condemnation/Eminent Domain. In the event that the whole or any part of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, Building shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation then (and in any such event) this Lease and the Term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the right event that a substantial part of the Demised Premises or of the means of access thereto within the perimeter of the Property shall be so taken, appropriated or condemned, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the Term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the Demised Premises or shall be deprived of a substantial part of the means of access thereto, provided however that Landlord may in Landlord’s notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event of any such termination, this Lease and the Term hereof shall expire as of the effective termination date as fully and completely as if such date were the date herein originally scheduled as the Termination Date. If neither party (having the right so to do) elects to terminate this Lease, Landlord will, with reasonable diligence and at Landlord’s expense, restore the remainder of the Demised Premises, or the remainder of the means of access points thereto, as nearly as practicably may be to adjoining streetsthe same condition as obtained prior to such taking, appropriation or condemnation in which event (i) a just proportion of Yearly Fixed Rent, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the Demised Premises and the means of access thereto, shall be taken permanently abated, and (ii) a just proportion of the remainder of Yearly Fixed Rent, according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the Demised Premises and the means of access thereto, shall be abated until what remains of the Demised Premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any public award specifically reimbursing Tenant for moving or quasirelocation expenses or for the taking of any personal property or trade fixtures otherwise removable by Tenant hereunder or for the unamortized cost (computed in accordance with generally-public purpose accepted accounting principles) of any alterations and improvements to the extent made to the Demised Premises by Tenant at its expense without reimbursement by Landlord, there are expressly reserved to Landlord all rights to compensation and damages created, accrued or accruing by reason of any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, appropriation or condemnation, in implementation and such taking shall substantially interfere with Tenant’s use in confirmation of the Premises, then Landlord or which Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, and does hereby acknowledge that Landlord shall be entitled to receive the entire amount and retain all such compensation and damages, grants to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agrees to execute and deliver all and whatever further instruments of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed assignment as Landlord may from time to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensestime reasonably request. In the event of any taking of the amount of property Demised Premises or the type of estate taken any part thereof for temporary use, (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Tenant shall be entitled to receive for itself any award made for such use, provided, that if any taking is for a period extending beyond the entire amount Term of this Lease, such award shall be apportioned between Landlord and Tenant as of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationTermination Date.

Appears in 1 contract

Samples: Lease (Viryanet LTD)

Condemnation/Eminent Domain. In the event that the Premises or any part thereof, or the whole or any part of the Premises, and/or Building (including within such part term the Common Areas thereof as shall substantially interfere with Tenant’s use and occupation thereof, shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, appropriation, or condemnation) shall suffer any damage (direct, indirect, or consequential) for which LESSOR or LESSEE shall be entitled to compensation, then Landlord (and Tenant in any such event) this Lease and the term hereof may be terminated at the election of LESSOR or LESSEE by a notice in writing of his or its election so to terminate which shall each be given to the other party within sixty (60) days following the date on which LESSOR shall have received notice of such taking, appropriation, or condemnation. Upon the right giving of any such notice of termination (either by LESSOR or LESSEE) this Lease and the term hereof shall terminate on or retroactively as of the date on which LESSEE shall be required to vacate any part of the Premises, or shall be deprived of a substantial part of the means of access thereto; provided, however, that LESSOR may in LESSOR'S notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation, or condemnation became legally effective. In the event of any access points to adjoining streetssuch termination, this Lease and the term hereof shall expire as such effective termination date and the Yearly Rent shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise apportioned as of such date. If neither party (having the right of appropriationso to do) elects to so terminate, condemnation or eminent domainLESSOR will, or is sold in lieu of or to prevent such takingwith reasonable diligence and at LESSOR'S expense, and such taking shall substantially interfere with Tenant’s use restore the remainder of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as remainder of the date possession is required means of access thereto, as nearly as practicably may be to be surrendered the same condition as obtained prior to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, appropriation, or condemnation, in which event (i) the Rentable Area and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s businessYearly Rent, Landlord shall be entitled according to the entire amount nature and extent of the award without deduction for any estate taking, appropriation, or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith)condemnation, and the Base Rent shall be proportionately reduced by resulting permanent injury to the time during whichPremises, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restoration.or the

Appears in 1 contract

Samples: Eco Form International Inc

Condemnation/Eminent Domain. In If, after the event execution of this Lease and before the whole expiration of the term hereof, any portion of the Demised Premises shall be taken by right of eminent domain that reduces the Demised Premises to less than 15,000 rentable square feet of space, then this Lease and the term hereof shall terminate as of the time when the Landlord shall be divested of its interest in the Demised Premises, and/or such part thereof and annual fixed rent and all additional rent and other charges payable hereunder shall be apportioned and adjusted as of the date of termination. If the term of this Lease shall substantially interfere with Tenant’s not be terminated as aforesaid, then the term of this Lease shall continue in full force and effect, and the Landlord shall, within a reasonable time after possession is required for public use (subject to delays due to difficulty in obtaining labor, materials, equipment, government restrictions, labor difficulties, fires or to any other cause beyond the Landlord's control and subject to the provisions of the applicable building and zoning laws) repair and rebuild what may remain of the Demised Premises so as to put the same into condition for use and occupation thereofoccupancy by the Tenant. A just proportion of the annual rent reserved herein, according to the nature and extent of the injury to the Demised Premises, shall be taken suspended or abated until what may remain of the Demised Premises shall be put in such condition by the Landlord, and thereafter a just proportion of the annual rent reserved herein, according to the nature and extent of the part so taken, shall be abated for the balance of the term of this Lease; provided, however, that in connection with the above obligation to repair and rebuild Landlord shall have no obligation to expend more than the amount actually recovered as an award for such taking and made available by any mortgage of the building and/or the Landlord's Property. The Landlord reserves to itself, and the Tenant assigns to the Landlord, all rights to damages accruing on account of any taking under the power of eminent domain or by reason of any act of any public or quasi-public purpose authority for which damages are payable. The Tenant agrees to execute such instruments of assignment as may be reasonably required by the Landlord in any lawful power or authority proceeding for the recovery of such damages if requested by exercise of the right of appropriationLandlord, condemnation or eminent domain, or is sold in lieu of or and to prevent such taking, then Landlord and Tenant shall each have the right to terminate this Lease (by written notice turn over to the other given no later than 10 days after Landlord notifies Tenant of such taking) effective as of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streets, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall damages that may be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost recovered in such condemnation (but in no event shall proceeding. It is agreed and understood, however, that the Landlord be obligated does not reserve to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith)itself, and the Base Rent shall be proportionately reduced by Tenant does not assign to the time during whichLandlord, and the portion any damages payable for reimbursement of the Premises whichcost of moving Tenant's stock, fixtures and appliances to the extent that such claim may be made independently by Tenant shall have been deprived of possession on account of said directly against any taking authority without regard to and restorationwithout diminishing Landlord's claim.

Appears in 1 contract

Samples: Lease Agreement (Bruker Daltonics Inc)

Condemnation/Eminent Domain. In If the event land and Leased Premises leased herein, or of which the whole of the PremisesLeased Premises are a part, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation or any portion thereof, shall be taken for any public under eminent domain or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainproceedings, or is sold if suit or other action shall be instituted for the taking or condemnation thereof, or if in lieu of any formal condemnation proceedings or actions, the Landlord shall grant an option to prevent such takingpurchase and or shall sell and convey the said Leased Premises or any portion thereof, to the governmental or other public authority, agency, body or public utility, seeking to take said land and Leased Premises or any portion thereof, then this lease, at the option of the Landlord, shall terminate, and the term hereof shall end as of such date as the Landlord shall fix by notice in writing; and the Tenant shall each have the no claim or right to terminate this Lease (by written notice claim or be entitled to any portion of any amount which may be awarded as damages or paid as the other given no later than 10 days after Landlord notifies Tenant result of such taking) effective condemnation proceedings or paid as of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streetspurchase price for such option, shall be taken for any public sale or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold conveyance in lieu of formal condemnation proceedings; and all rights of the Tenant to damages, if any, are hereby assigned to the Landlord. The Tenant agrees to execute and deliver any instruments, at the expense of the Landlord, as may be deemed necessary or required to expedite any condemnation proceedings or to prevent effectuate a proper transfer of title to such takinggovernmental or other public authority, agency, body or public utility seeking to take or acquire the said lands and such taking shall substantially interfere with Tenant’s use Leased Premises or any portion thereof. The Tenant covenants and agrees to vacate the said Leased Premises, remove all of the Premises, then Tenant's personal property therefrom and deliver up peaceable possession thereof to the Landlord or to such other party designated by the Landlord in the aforementioned notice. Failure by the Tenant to comply with any provisions in this clause shall each have subject the right Tenant to terminate this Lease effective such costs, expenses, damages and losses as the Landlord may incur by reason of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restoration's breach hereof.

Appears in 1 contract

Samples: Lease Agreement (Integrated Biopharma Inc)

Condemnation/Eminent Domain. In case during the event Term all or any substantial part of the whole Premises or the Building are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, this Lease shall terminate at Landlord’s election, which may be made (notwithstanding that Landlord’s entire interest may have been divested) by notice given to Tenant within ninety (90) days after the election to terminate arises, specifying the effective date of termination. The effective date of termination specified by Landlord shall not be less than fifteen (15) nor more than thirty (30) days after the date of notice of such termination. Unless terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect following any such taking, subject, however, to the following provisions. If in any such case the Premises are rendered unfit for use and occupation and this Lease is not terminated, Landlord shall use reasonable diligence (following the expiration of the period in which Landlord may terminate this Lease pursuant to the foregoing provisions of this Section 6.2) to put the Premises, or what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required to remove pursuant to Section 5.9), into proper condition for use and occupation and a just proportion of the Annual Fixed Rent and Additional Rent for Landlord’s Taxes and Landlord’s Operating Expenses according to the nature and extent of the injury shall be abated until the 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 Premises, and/or such a just proportion of the Annual Fixed Rent and Additional Rent for Landlord’s Operating Expenses and Landlord’s Taxes shall be abated for the remainder of the Term. If the taking of a part thereof as shall of the Premises substantially interfere and adversely interferes with Tenant’s use and occupation thereof, 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 is sold in lieu of or ability to prevent such taking, continue its business operations then Landlord and Tenant shall each have the right to may terminate this Lease (by on written notice to the other Landlord given no later not more than 10 thirty (30) days after Landlord notifies such taking and effective on the earlier of: (i) the date when title vests; (ii) the date Tenant of such takingis dispossessed by the condemning authority; or (iii) effective as sixty (60) days following notice to Tenant of the date possession when vesting or dispossession is required to be surrendered to said authority. In the event any access points to adjoining streets, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationoccur.

Appears in 1 contract

Samples: Pegasystems Inc

Condemnation/Eminent Domain. In the event that the whole or substantially all of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, Building shall be permanently taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by use, then (and in any lawful power or authority by exercise such event) this Lease and the Term hereof shall automatically be terminated as of the right effective date of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, appropriation or condemnation. In the event that more than a material part (i.e. greater than 30%) of the floor area of the Building, or any material part of the means of access ( "material" in the case of access shall mean so as to substantially interfere with the use of the Building), or any material parking ("material" in the case of parking shall mean the reduction of parking spaces to less than three (3)parking spaces per 1,000 square feet of Building), shall be so taken, appropriated or condemned for a period in excess of one year, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing to Landlord and Tenant shall each have the right of its election so to terminate this Lease within sixty (by written notice to 60) days following the other given no later than 10 days after Landlord notifies Tenant effective date of such taking, appropriation or condemnation. With respect to reductions in parking, Landlord may suspend the effectiveness of such notice by giving its own notice to Tenant within five (5) effective days of receipt of Tenant's notice that Landlord shall either (i) remove the impairment to Tenant's use of the Building by repairing the Building as soon as practicable, or (ii) provide substitute parking spaces equal to the number taken within reasonable proximity to the Premises within a reasonable time period, it being agreed that reasonable time includes weather-related delays associated with winter and spring site work and paving. In the event of any such termination, this Lease and Term hereof shall expire as of the date possession specified in such notice of termination from Tenant, which date shall not be more than sixty (60) days after the date of such notice, as fully and completely as if such date were the date herein originally scheduled as the Term Expiration Date. If this Lease is required not terminated as above set forth, Landlord shall, with reasonable diligence and up to be surrendered to said authority. In the event any access points to adjoining streets, shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise amount of the right of appropriationaward, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use restore the remainder of the Premises, then Landlord or Tenant shall each have and the right to terminate this Lease effective as remainder of the date possession is required means of access, as nearly as practicably may be to be surrendered the same condition as obtained prior to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, appropriation or condemnation in which event (i) a just proportion of the Fixed Rent and Landlord additional rent, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the Premises and the means of access thereto and parking shall be entitled permanently abated, and (ii) a just proportion of tile remainder of the Fixed Rent and additional rent, according to receive the entire amount nature and extent of any award without deduction for any estate the taking, appropriation or interest condemnation and the resultant injury sustained by the Premises and the means of Tenant in the Premises. Nothing contained in this Article 12 access thereto and parking shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion abated until what remains of the Premises whichand the means of access thereto and parking, Tenant shall have been deprived of possession on account of said taking restored as fully as may be for permanent use and restorationoccupation by Tenant hereunder.

Appears in 1 contract

Samples: Attornment Agreement (Netscout Systems Inc)

Condemnation/Eminent Domain. In the event the whole If any portion of the Premisespremises of which the Premises are a part is taken under eminent domain or condemnation proceedings, and/or such part thereof as or if suit or other action shall substantially interfere with Tenant’s use and occupation be instituted for the taking or condemnation thereof, 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 is sold if in lieu of any formal condemnation proceeding or actions, the Landlord grants an option to prevent such takingpurchase and or sells and conveys the Premises or any portion thereof, to the governmental or other public authority, agency, body or public utility seeking to take the Premises or any portion thereof, then this Lease, at the option of the Landlord, will terminate, and the term hereof will end as of such date as the Landlord and fixes by notice in writing. The Tenant shall each will have the no claim or right to terminate this Lease (by written notice claim or be entitled to any portion of any amount which may be awarded as damages or paid as the other given no later than 10 days after Landlord notifies Tenant result of such taking) effective condemnation proceedings or paid as of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streetspurchase price for such option, shall be taken for any public sale or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold conveyance in lieu of or to prevent such takingformal condemnation proceedings. The Tenant may, however, file a claim for any taking of fixtures and improvements owned by the Tenant, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authorityfor moving expenses. Except as provided belowin the preceding sentence, all rights of the Tenant shall not assert to damages, if any, are hereby assigned to the Landlord. The Tenant will execute and deliver any claim against instruments, at the expense of the Landlord, as may be deemed necessary to expedite any condemnation proceedings or to effectuate a proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the Premises or any portion thereof. The Tenant will vacate the Premises, remove all of the Tenant's personal property therefrom and deliver up peaceable possession thereof to the Landlord or to such other party designated by the taking authority Landlord. The Tenant will repay the Landlord for any compensation because of such takingcosts, expenses, damages and losses as the Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount may incur by reason of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restoration's breach hereof.

Appears in 1 contract

Samples: Lease Agreement (Community Partners Bancorp)

Condemnation/Eminent Domain. In the event the whole If all or substantially all of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, shall be Property is condemned or is 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 is sold in lieu of or to prevent such takingcondemnation, then this Lease shall terminate on the date the condemning authority takes possession. If less than all of the Property is so condemned or sold and, in Landlord's judgment, the Property cannot be restored to an economically viable condition, or if any mortgagee of the Property requires application of condemnation pro deeds to the reduction of the mortgage debt, Landlord and Tenant shall each have the right to may terminate this Lease (by written notice to Tenant effective on the other given no later than 10 days after Landlord notifies Tenant of such taking) effective as date the condemning authority takes possession. If any proposed condemnation would render any substantial part of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streetsProperty untenantable, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to may terminate this Lease by written notice to Landlord effective as on the date the condemning authority takes possession of the affected part of the Property or on such earlier date possession is required to be surrendered to said authority. Except as provided below, the Tenant shall specify to the Landlord in writing. If this Lease is not assert any claim against so terminated by Landlord or Tenant, Landlord shall, to the taking authority for extent feasible, restore the Property (including the tenant improvements) to substantially their former condition. Rent shall xxxxx during the time and to the extent the Property is untenantable as the result of any compensation because of condemnation, but such takingabatement shall not extend the term. If the Building is more than forty percent (40%) untenantable, and then all rent shall xxxxx. Landlord shall be entitled to receive give Tenant prompt notice of the entire amount filing or other instigation of any award without deduction for action of condemnation, or comparable action or proceeding, in respect of all or any estate part of the Property. Loss of forty percent (40%) or interest more of Tenant in the Premises. Nothing contained in this Article 12 parking area, by numbers of spaces and/or by area, shall be deemed to give Landlord any interest in any separate award made to Tenant for render the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In Property untenantable at the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount option of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restoration.

Appears in 1 contract

Samples: Lease Agreement (Capital Bancorp Inc)

Condemnation/Eminent Domain. In the event that the premises or any part thereof or the whole or any part of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereofBuilding, shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation, then (and in any such event) this Lease and the term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the right event that a substantial part of the premises or of the means of access thereto shall be so taken, appropriated or condemned, then (and in any such event) this Lease and the term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the premises or shall be deprived of a substantial part of the means of access thereto, provided, however, that Landlord may in Landlord's notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event of any such termination, this Lease and the term hereof shall expire as of such effective termination date as though that were the Termination Date as stated in Exhibit 1, and the Yearly Rent shall be apportioned as of such date. If neither party (having the right so to do) elects to terminate Landlord will, with reasonable diligence and at Landlord's expense (but only to the extent of taking proceeds made available to Landlord), restore the remainder of the premises, or the remainder of the means of access, as nearly as practicably may be to the same condition as obtained prior to such taking, appropriation or condemnation in which event (i) a just proportion of the Yearly Rent, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the premises and the means of access points to adjoining streetsthereto, shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise permanently abated, and (ii) a just proportion of the right remainder of appropriationthe Yearly Rent according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the premises and the means of access thereto, shall be abated until what remains of the premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for and award specifically reimbursing Tenant for moving or eminent domainrelocation expenses, there are expressly reserved to Landlord all rights to compensation and damages created, accrued or is sold in lieu accruing by reason of or to prevent any such taking, appropriation or condemnation, in implementation and such taking shall substantially interfere with Tenant’s use in confirmation of the Premises, then Landlord or which Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, and does hereby acknowledge that Landlord shall be entitled to receive the entire amount all such compensation and damages, grant to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agrees to execute and deliver all and whatever further instruments of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed assignment as Landlord may from time to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensestime request. In the event of any taking of the amount of property premises or the type of estate taken any part thereof for temporary use, (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Tenant shall be entitled to receive for itself and award made for such use, provided, that if any taking is for a period extending beyond the entire amount term of this Lease, such award shall be apportioned between Landlord and Tenant as of the award without deduction for any estate Termination Date or interest earlier termination of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationthis Lease.

Appears in 1 contract

Samples: Lease (Archibald Candy Corp)

Condemnation/Eminent Domain. In the event that the Premises or any part thereof, or the whole or any part of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereofBuilding, shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the right event that a substantial part of the Premises or of the means of access thereto shall be so taken, appropriated or condemned, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the Term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the Premises or shall be deprived of a substantial part of the means of access thereto, provided, however, that Landlord may in Landlord’s notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event of any access points to adjoining streetssuch termination, this Lease and the Term hereof shall expire as of such effective termination date as though that were the Expiration Date as stated in Exhibit 1, and the Yearly Rent (together with Operating Costs Excess and Tax Excess) shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise apportioned as of such date. If neither party (having the right of appropriationso to do) elects to terminate Landlord will, condemnation or eminent domainwith reasonable diligence and at Landlord’s expense, or is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use restore the remainder of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as remainder of the date possession is required means of access, as nearly as practicably may be to be surrendered the same condition as obtained prior to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, appropriation or condemnation in which event (i) the Total Rentable Area shall be equitably adjusted, (ii) a just proportion of the Yearly Rent, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the Premises and the means of access thereto, shall be permanently abated, and (iii) a just proportion of the remainder of the Yearly Rent, according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the Premises and the means of access thereto, shall be abated until what remains of the Premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any award specifically reimbursing Tenant for moving or relocation expenses, there are expressly reserved to Landlord all rights to compensation and damages created, accrued or accruing by reason of any such taking, appropriation or condemnation, in implementation and in confirmation of which Tenant does hereby acknowledge that Landlord shall be entitled to receive the entire amount all such compensation and damages, grant to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agree to execute and deliver all and whatever further instruments of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed assignment as Landlord may from time to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensestime request. In the event of any taking of the amount Premises or any part thereof for temporary (i.e., not in excess of property or the type of estate taken one (1) year) use, (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Tenant shall be entitled to receive for itself any award made to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed extent allocable to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived in respect of possession such taking on account of said such use, provided, that if any taking is for a period extending beyond the Term of this Lease, such award shall be apportioned between Landlord and restorationTenant as of the Expiration Date or earlier termination of this Lease.

Appears in 1 contract

Samples: Learning Tree International Inc

Condemnation/Eminent Domain. In the event that the whole or any part of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, Building shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation then (and in any such event) this Lease and the Term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the right event that more than fifty percent (50%) of the floor area of the Demised Premises or a substantial part of the means of access thereto within the perimeter of the Property so as to substantially interfere with the use of the Demised Premises shall be so taken, appropriated or condemned, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Tenant hereby waives the benefits of California Code of Civil Procedure Section 12165.130. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the Term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the Demised Premises or shall be deprived of a substantial part of the means of access thereto, provided, however, that Landlord may in Landlord’s notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event of any such termination, this Lease and the Term hereof shall expire as of the effective termination date as fully and completely as if such date were the date originally fixed herein for the end of the Term of this Lease. If neither party (having the right so to do) elects to terminate Landlord will, with reasonable diligence and at Landlord’s expense, restore the remainder of the Demised Premises, or the remainder of the means of access points thereto, as nearly as practicably may be to adjoining streetsthe same condition as obtained prior to such taking, appropriation or condemnation in which event (i) a just proportion of the Yearly Fixed Rent, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the Demised Premises and the means of access thereto, shall be taken permanently abated, and (ii) a just proportion of the remainder of the Yearly Fixed Rent, according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the Demised Premises and the means of access thereto, shall be abated until what remains of the Demised Premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any public award specifically reimbursing Tenant for moving or quasi-public purpose relocation expenses, there are expressly reserved to Landlord all rights to compensation and damages created, accrued or accruing by reason of any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, appropriation or condemnation, in implementation and such taking shall substantially interfere with Tenant’s use in confirmation of the Premises, then Landlord or which Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, and does hereby acknowledge that Landlord shall be entitled to receive the entire amount and retain all such compensation and damages, grants to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agrees to execute and deliver all and whatever further instruments of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed assignment as Landlord may from time to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensestime request. In the event of any taking of the amount of property Demised Premises or the type of estate taken any part thereof for temporary use, (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Tenant shall be entitled to receive for itself any award made for such use, provided, that if any taking is for a period extending beyond the entire amount Term of this Lease, such award shall be apportioned between Landlord and Tenant as of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationTermination Date.

Appears in 1 contract

Samples: Agreement of Lease (Fluidigm Corp)

Condemnation/Eminent Domain. In the event the whole of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, shall be taken for (1) Notwithstanding (i) any public or quasi-public purpose taking by any lawful power or authority by exercise of the right of appropriationeminent domain, condemnation or eminent domainotherwise of all or any portion of the Mortgaged Property, or is sold (ii) the change of grade of any street, road or avenue or the widening of streets, roads or avenues adjoining or abutting the Land, or (iii) any other injury to, or decrease in lieu value of, the Mortgaged Property caused in any manner by any Governmental Authority (any of or the foregoing events being hereinafter referred to prevent such takingas a "TAKING"), then Landlord Mortgagor shall continue to make all payments due under this Mortgage, the Note and Tenant shall each have the right to terminate this Lease (by written notice to the other given no later than 10 days after Landlord notifies Tenant Loan Documents in accordance with the provisions of such taking) effective as this Mortgage, the Loan Agreement, the Note and the applicable provisions of the date possession is required to be surrendered to said authorityother Loan Documents. In Mortgagor shall notify Mortgagee immediately upon obtaining knowledge of the event institution of any access points to adjoining streets, proceedings for any Taking or of any contemplated Taking. All Awards made in connection with any Taking shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise paid to Mortgagee free and clear of the right of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, all liens and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authorityencumbrances. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord Mortgagee shall be entitled to the entire interest paid, in lieu of the Interest Rate, on any such Award or proceeds thereof for such Taking. Mortgagor shall not settle or stipulate to any matter or agree to judgment in any such proceedings with respect to a Taking without Mortgagee's prior written approval. Each Governmental Authority is hereby authorized and directed to make payment of any Award made in connection with any Taking directly to Mortgagee for application as provided herein, instead of to Mortgagor and Mortgagee jointly, and Mortgagee is hereby authorized to endorse any draft therefor as Mortgagor's attorney-in-fact. Reduction of the outstanding amount of the award without deduction for Obligations resulting from the application of any estate or interest such Award by Mortgagee shall be deemed to take effect only on the date of TenantMortgagee's receipt of such Award and its election to apply the same against the Obligations then outstanding hereunder. If, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the receipt by Mortgagee of any Award, the Mortgaged Property or any portion thereof lost in shall have been sold on foreclosure of this Mortgage to Mortgagee, Mortgagee shall have the right to receive the Award to the extent of any deficiency found to be due upon such condemnation (but in no event sale, whether or not a deficiency judgment on this Mortgage shall Landlord be obligated to incur costs in such restoration in excess of have been sought or recovered or denied, together with interest thereon at the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith)Interest Rate, and the Base Rent shall be proportionately reduced reasonable attorneys' fees, reasonable costs and disbursements incurred by Mortgagee in connection with the time during which, and the portion collection of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationAward.

Appears in 1 contract

Samples: Loan and Security Agreement (Paul Harris Stores Inc)

Condemnation/Eminent Domain. In the event that the whole or substantially all of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, Building shall be permanently taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by use, then (and in any lawful power or authority by exercise such event) this Lease and the Term hereof shall automatically be terminated as of the right effective date of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, appropriation or condemnation. In the event that more than a material part (i.e. greater than thirty percent (30%)) of the floor area of the Premises, or any material part of the means of access ( "material" in the case of access shall mean so as to substantially interfere with the use of the Premises), or any material parking ("material" in the case of parking shall mean the reduction of parking spaces to less than three and three tenths(3.3) parking spaces per one thousand (1,000) square feet of Premises), shall be so taken, appropriated or condemned for a period in excess of one (1) year, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing to Landlord and Tenant shall each have the right of its election so to terminate this Lease within sixty (by written notice to 60) days following the other given no later than 10 days after Landlord notifies Tenant effective date of such taking, appropriation or condemnation. With respect to reductions in parking, Landlord may suspend the effectiveness of such notice by giving its own notice to Tenant within five (5) effective days of receipt of Tenant's notice that Landlord shall either (i) remove the impairment to Tenant's use of the Premises by repairing the Premises as soon as practicable, or (ii) provide substitute parking spaces equal to the number taken within reasonable proximity to the Premises within a reasonable time period, it being agreed that reasonable time includes weather - related delays associated with winter and spring site work and paving. In the event of any such termination, this Lease and Term hereof shall expire as of the date possession specified in such notice of termination from Tenant, which date shall not be more than sixty (60) days after the date of such notice, as fully and completely as if such date were the date herein originally scheduled as the Term Expiration Date. If this Lease is required not terminated as above set forth, Landlord shall, with reasonable diligence and up to be surrendered to said authority. In the event any access points to adjoining streets, shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise amount of the right of appropriationaward, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use restore the remainder of the Premises, then Landlord or Tenant shall each have and the right to terminate this Lease effective as remainder of the date possession is required means of access, as nearly as practicably may be to be surrendered the same condition as obtained prior to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, appropriation or condemnation in which event (i) a just proportion of the Fixed Rent and Landlord additional rent, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the Premises and the means of access thereto and parking shall be entitled permanently abated, and (ii) a just proportion of the remainder of the Fixed Rent and additional rent, according to receive the entire amount nature and extent of any award without deduction for any estate the taking, appropriation or interest condemnation and the resultant injury sustained by the Premises and the means of Tenant in the Premises. Nothing contained in this Article 12 access thereto and parking shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion abated until what remains of the Premises whichand the means of access thereto and parking, Tenant shall have been deprived of possession on account of said taking restored as fully as may be for permanent use and restorationoccupation by Tenant hereunder.

Appears in 1 contract

Samples: Lease and Termination Agreement (Netscout Systems Inc)

Condemnation/Eminent Domain. In the event that the whole or any material part of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, Building shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation then (and in any such event) this Lease and the Term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by the Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the right event that more than twenty-five percent (25%) of the floor area of the Demised Premises shall be so taken, appropriated or condemned, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the Term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the Demised Premises or shall be deprived of a substantial part of the means of access thereto, provided, however, that Landlord may in Landlord's notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event of any such termination, this Lease and the Term hereof shall expire as of the effective termination date as fully and completely as if such date were the date herein originally scheduled as the Termination Date. If neither party (having the right so to do) elects to terminate Landlord will, with reasonable diligence and at Landlord's expense, restore the remainder of the Demised Premises, or the remainder of the means of access, as nearly as practicably may be to the same condition as obtained prior to such taking, appropriation or condemnation in which event (i) a just proportion of the Yearly Fixed Rent and Additional Rent, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the Demised Premises and the means of access points to adjoining streetsthereto, shall be taken permanently abated, and (ii) a just proportion of the remainder of the Yearly Fixed Rent and Additional Rent, according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the Premises and the means of access thereto, shall be abated until what remains of the Premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any public award specifically reimbursing Tenant for moving or quasi-public purpose relocation expenses and Tenant's removable fixtures and equipment, there are expressly reserved to Landlord all rights to compensation and damages created, accrued or accruing by reason of any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, appropriation or condemnation, in implementation and such taking shall substantially interfere with Tenant’s use in confirmation of the Premises, then Landlord or which Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, and does hereby acknowledge that Landlord shall be entitled to receive the entire amount and retain all such compensation and damages, grants to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agrees to execute and deliver all and whatever further instruments of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed assignment as Landlord may from time to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensestime request. In the event of any taking of the amount of property Demised Premises or the type of estate taken any part thereof for temporary use, (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Tenant shall be entitled to receive for itself any award made for such use, provided, that if any taking is for a period extending beyond the entire amount Term of this Lease, such award shall be apportioned between Landlord and Tenant as of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationTermination Date.

Appears in 1 contract

Samples: Entire Agreement (Focal Communications Corp)

Condemnation/Eminent Domain. In If the event land and premises herein, or of which the whole of the Premisesleased premises are a part, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation or any portion thereof, shall be taken for any public under eminent domain or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainproceedings, or is sold if suit or other action shall be instituted for the taking or condemnation thereof, or if in lieu of any formal condemnation proceedings or actions, Landlord shall grant an option to prevent such takingpurchase and or shall sell and convey the said premises or any portion thereof, to the governmental or other public authority, agency, body or public utility, seeking to take said land and premises or any portion thereof, then this lease, at the option of Landlord, shall terminate, and the term hereof shall end of such date as Landlord shall fix by notice in writing; and Tenant shall each have no claim or right to claim or be entitled to any portion of any amount which may be awarded as damages or paid as the result of such condemnation proceedings or paid as the purchase price for such option, sale or conveyance in lieu of formal condemnation proceedings; and all rights of Tenant to damages, if any, are hereby assigned to the Landlord, however Tenant retains the right to terminate this Lease (by written notice seek its relocation costs directly from the condemning authority. Tenant covenants and agrees to execute and deliver any instruments, at the other given no later than 10 days after Landlord notifies Tenant expense of such taking) effective Landlord, as of the date possession is may be deemed necessary or required to be surrendered to said authority. In the event expedite any access points to adjoining streets, 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 is sold in lieu of proceedings or to prevent effectuate a proper transfer of title to such takinggovernmental or other public authority, agency, body or public utility seeking to take or acquire the said lands and premises or any portion thereof. Tenant covenants and agrees to vacate the said premises, remove all Tenant's personal property therefrom and deliver up peaceable possession thereof to Landlord to such taking shall substantially interfere with Tenant’s use of the Premises, then other party designated by Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premisesaforementioned notice. Nothing contained Failure by Tenant to comply with any provisions in this Article 12 clause shall be deemed subject Tenant to give such costs, expenses, damages and losses as the Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct may incur by reason of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restoration's breach thereof.

Appears in 1 contract

Samples: Lease Agreement (Equinix Inc)

Condemnation/Eminent Domain. In case during the event Term all or any substantial part of the whole Premises or the Building are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority affecting all or a substantial part of the Premises or Building, this Lease shall terminate at Landlord’s election, which may be made (notwithstanding that Landlord’s entire interest may have been divested) by notice given to Tenant within ninety (90) days after the election to terminate arises, specifying the effective date of termination. The effective date of termination specified by Landlord shall not be less than fifteen (15) nor more than thirty (30) days after the date of notice of such termination. Unless terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect following any such taking, subject, however, to the following provisions. If in any such case the Premises are rendered unfit for use and occupation and this Lease is not terminated, Landlord shall use reasonable diligence (following the expiration of the period in which Landlord may terminate this Lease pursuant to the foregoing provisions of this Section 6.2) to put the Premises, or what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required to remove pursuant to Section 5.11), into proper condition for use and occupation and adjust proportion of the Annual Fixed Rent and Additional Rent for Operating Expenses according to the nature and extent of the injury shall be abated until the 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 Premises, and/or such adjust proportion of the Annual Fixed Rent and Additional Rent for Operating Expenses shall be abated for the remainder of the Term. If the taking of a part thereof as shall of the Premises substantially interfere and adversely interferes with Tenant’s use and occupation thereof, 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 is sold in lieu of or ability to prevent such taking, continue its business operations then Landlord and Tenant shall each have the right to may terminate this Lease (by on written notice to the other Landlord given no later not more than 10 thirty (30) days after Landlord notifies such taking and effective on the earlier of: (i) the date when title vests; (ii) the date Tenant of such takingis dispossessed by the condemning authority; or (iii) effective as sixty (60) days following notice to Tenant of the date possession when vesting or dispossession is required to be surrendered to said authority. In the event any access points to adjoining streets, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationoccur.

Appears in 1 contract

Samples: Edgewater Office (Alliance Data Systems Corp)

Condemnation/Eminent Domain. In case during the event Term all or any substantial part of the whole Premises or the Building are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, affecting all or a substantial part of the Premises or Building this Lease shall terminate at Landlord's election, which may be made (notwithstanding that Landlord's entire interest may have been divested) by notice given to Tenant within ninety (90) days after the election to terminate arises, specifying the effective date of termination. The effective date of termination specified by Landlord shall not be less than fifteen (15) nor more than thirty (30) days after the date of notice of such termination. Unless terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect following any such taking, subject, however, to the following provisions. If in any such case the Premises are rendered unfit for use and occupation and this Lease is not terminated, Landlord shall use reasonable diligence (following the expiration of the period in which Landlord may terminate this Lease pursuant to the foregoing provisions of this Section 6.2) to put the Premises, or what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required to remove pursuant to Section 5.11), into proper condition for use and occupation and a just proportion of the Annual Fixed Rent and Additional Rent for Operating Expenses according to the nature and extent of the injury shall be abated until the 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 Premises, and/or such a just proportion of the Annual Fixed Rent and Additional Rent for Operating Expenses shall be abated for the remainder of the Term. If the taking of a part thereof as shall of the Premises substantially interfere and adversely interferes with Tenant’s use and occupation thereof, 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 is sold in lieu of or 's ability to prevent such taking, continue its business operations then Landlord and Tenant shall each have the right to may terminate this Lease (by on written notice to the other Landlord given no later not more than 10 thirty (30) days after Landlord notifies such taking and effective on the earlier of: (i) the date when title vests; (ii) the date Tenant of such takingis dispossessed by the condemning authority; or (iii) effective as sixty (60) days following notice to Tenant of the date possession when vesting or dispossession is required to be surrendered to said authority. In the event any access points to adjoining streets, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restoration.occur

Appears in 1 contract

Samples: Edgewater Office (Alliance Data Systems Corp)

Condemnation/Eminent Domain. In (a) If the event the whole of the PremisesProperty, and/or such or any material part thereof as shall substantially interfere with Tenant’s use and occupation thereof, shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-quasi- public purpose use, or by reason of any lawful power transfer of all or authority by exercise any material part of the right Building, or any interest therein made in avoidance of such a taking or 'appropriation, condemnation or eminent domain(by virtue of any taking, appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord or Tenant shall be entitled to compensation, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Landlord by giving a written notice of termination to the Tenant within sixty (60) days following the date on which Landlord shall have received notice of a taking, appropriation or condemnation, or is sold shall have effected such transfer. If the entire Premises, or a portion thereof shall be so taken, appropriated, condemned or transferred, such that Tenant shall be precluded from effectively utilizing the Premises for its intended purpose, then (and in lieu such event) this Lease and the Term hereof may be terminated at the election of or Tenant by giving a written notice of termination to prevent such Landlord within sixty (60) days following the date on which Tenant shall have received notice of a taking, then appropriation, condemnation, or on which Landlord shall have transferred such property. Upon the giving of any such notice of termination by either Landlord or Tenant, this Lease and Tenant the Term hereof shall each have terminate as of the right date on which Landlord or Tenant, as the case may be, shall be required to vacate any portion of the area so taken, appropriated or condemned or shall be deprived of the means of access thereto, provided, however, that Landlord in its notice of termination may elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event any access points to adjoining streetsof such termination, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective and the Term hereof shall expire as of the such effective termination date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Basic Annual Rent shall be proportionately reduced by the time during which, and the portion apportioned as of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationsuch date.

Appears in 1 contract

Samples: Lease Agreement (BGS Systems Inc)

Condemnation/Eminent Domain. In If the event land and premises leased herein or of which the whole of the Premises, and/or such Leased Premises are a part thereof as shall substantially interfere with Tenant’s use and occupation or any portion thereof, shall be taken for any public under eminent domain or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainproceedings, or is sold if suit or other action shall be instituted for the taking or condemnation thereof, or if in lieu of any formal condemnation proceedings or actions, the Landlord shall grant an option to prevent such takingpurchase and or shall sell and convey said premises or any portion thereof, to the governmental or other public authority, agency, body or public utility, seeking to take said land and premises or any portion thereof, then this Lease, at the option of the Landlord, shall terminate, and the Term hereof shall end as of such date as the Landlord shall fix by notice in writing and the Tenant shall each have the no claim or right to terminate this Lease (by written notice claim or be entitled to any portion of any amount which may be awarded as damages or paid as the other given no later than 10 days after Landlord notifies Tenant result of such taking) effective condemnation proceedings or paid as of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streetspurchase price for such option, shall be taken for any public sale or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold conveyance in lieu of formal condemnation proceedings and all rights of the Tenant to damages, if any, are hereby assigned to the Landlord. The Tenant agrees to execute and deliver any instruments at the expense of the Landlord, as may be deemed necessary or required to expedite any condemnation proceedings or to prevent effectuate a proper transfer of title to such takinggovernmental or other public authority, agency, body or public utility seeking to take or acquire the said lands and premises or any portion thereof the Tenant covenants and agrees to vacate the said premises, remove all the Tenant's personal property therefrom and deliver up peaceable possession thereof to the Landlord or to such taking shall substantially interfere with Tenant’s use other party designated by the Landlord in the aforementioned notice. Failure of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert comply with any claim against Landlord 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 Premises. Nothing contained provisions in this Article 12 13 shall be deemed subject the Tenant to give such costs, expenses, damages and losses as the Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount may incur by reason of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restoration's breach hereof.

Appears in 1 contract

Samples: Lease Agreement (Community Partners Bancorp)

Condemnation/Eminent Domain. In the event that the whole or any part of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, Building shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation then (and in any such event) this Lease and the Term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by the Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the right event that a substantial part of the Demised Premises or of the means of access thereto within the perimeter of the Property shall be so taken, appropriated or condemned, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the Term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the Demised Premises or shall be deprived of a substantial part of the means of access thereto, provided, however, that Landlord may in Landlord’s notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event of any such termination, this Lease and the Term hereof shall expire as of the effective termination date as fully and completely as if such date were the date herein originally scheduled as the Termination Date. If neither party (having the right so to do) elects to terminate Landlord will, with reasonable diligence and at Landlord’s expense, restore the remainder of the Demised Premises, or the remainder of the means of access, as nearly as practicably may be to the same condition as obtained prior to such taking, appropriation or condemnation in which event (i) a just proportion of the Yearly Fixed Rent and Additional Rent payable pursuant to Sections 6.2 and 6.3, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the Demised Premises and the means of access points to adjoining streetsthereto, shall be taken permanently abated, and (ii) a just proportion of the remainder of the Yearly Fixed Rent and Additional Rent payable pursuant to Sections 6.2 and 6.3, according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the Demised Premises and the means of access thereto, shall be abated until what remains of the Demised Premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any public award specifically reimbursing Tenant for moving or quasi-public purpose relocation expenses, there are expressly reserved to Landlord all rights to compensation and damages created, accrued or accruing by reason of any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, appropriation or condemnation, in implementation and such taking shall substantially interfere with Tenant’s use in confirmation of the Premises, then Landlord or which Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, and does hereby acknowledge that Landlord shall be entitled to receive the entire amount and retain all such compensation and damages, grants to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agrees to execute and deliver all and whatever further instruments of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed assignment as Landlord may from time to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensestime request. In the event of any taking of the amount of property Demised Premises or the type of estate taken any part thereof for temporary use, (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Tenant shall be entitled to receive for itself any award made for such use, provided, that if any taking is for a period extending beyond the entire amount Term of this Lease, such award shall be apportioned between Landlord and Tenant as of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationTermination Date.

Appears in 1 contract

Samples: Agreement of Lease (Investment Technology Group Inc)

Condemnation/Eminent Domain. In the event that the whole or any material part of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, Building shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation then (and in any such event) this Lease and the Term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by the Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the right event that more than twenty-five percent (25%) of the floor area of the Demised Premises shall be so taken, appropriated or condemned, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the Term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the Demised Premises or shall be deprived of a substantial part of the means of access thereto, provided, however, that Landlord may in Landlord's notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such takings, appropriation or condemnation became legally effective. In the event of any such termination, this Lease and the Term hereof shall expire as of the effective termination date as fully and completely as if such date were the date herein originally scheduled as the Termination Date. If neither party (having the right so to do) elects to terminate Landlord will, with reasonable diligence and at Landlord's expense, restore the remainder of the Demised Premises, or the remainder of the means of access, as nearly as practicably may be to the same condition as obtained prior to such taking, appropriation or condemnation in which event (i) a just proportion of the Yearly Fixed Rent and Additional Rent, accordance to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the Demised Premises and the means of access points to adjoining streetsthereto, shall be taken permanently abated, and (ii) a just proportion of the remainder of the Yearly Fixed Rent and Additional Rent, according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the Premises and the means of access thereto, shall be abated until what remains of the Premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any public award specifically reimbursing Tenant for moving or quasi-public purpose relocation expenses and Tenant's removable fixtures and equipment, there are expressly reserved to Landlord all rights to compensation and damages created, accrued or accruing by reason of any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, appropriation or condemnation, in implementation and such taking shall substantially interfere with Tenant’s use in confirmation of the Premises, then Landlord or which Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, and does hereby acknowledge that Landlord shall be entitled to receive the entire amount and retain all such compensation and damages, grants to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agrees to execute and deliver all and whatever further instruments of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed assignment as Landlord may from time to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensestime request. In the event of any taking of the amount of property Demised Premises or the type of estate taken any part thereof for temporary use, (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Tenant shall be entitled to receive for itself any award made for such use, provided. that if any taking is for a period extending beyond the entire amount Term of this Lease, such award shall be apportioned between Landlord and Tenant as of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationTermination Date.

Appears in 1 contract

Samples: Lease (Mainspring Communications Inc)

Condemnation/Eminent Domain. In the event the whole If all or substantially all of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, shall be Property is condemned or is 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 is sold in lieu of or to prevent such takingcondemnation, then Landlord and Tenant this Lease shall each have terminate on the right date the condemning authority takes possession. If less than all of the Property is so condemned or sold (whether or not the Premises are affected) and, in Lessor’s or Lxxxxx’s judgment, the Property cannot be restored to an economically viable condition, or if any mortgagee of the Property requires application of condemnation proceeds to the reduction of the mortgage debt, Lessor or Lessee may terminate this Lease (by written notice to the other given no later than 10 days after Landlord notifies Tenant of such taking) effective as on the date the condemning authority takes possession. Lxxxxx and Lxxxxx agrees to act reasonably in determining whether the Property can be restored to an economically viable condition. If any proposed condemnation would render any substantial part of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streetsPremises untenable, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to Lessee may terminate this Lease by written notice to Lessor effective as on the date the condemning authority takes possession of the affected part of the Premises or on such earlier date possession is required to be surrendered to said authority. Except as provided below, Tenant the Lessee shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled specify to the entire amount Lessor in writing (but no earlier than sixty (60) days prior to the date that the condemning authority takes possession of the award without deduction for any estate condemned property). If this Lease is not so terminated by Lessor or interest of TenantLessee, Landlord shall promptly proceed Lessor shall, to the extent feasible, restore the Building Premises to substantially their same condition prior former condition. Lessor shall not, however, be required to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated restore any alterations, additions, or improvements by Lessee or to incur costs in such restoration spend any amount in excess of the amount condemnation proceeds actually received by Lxxxxx and/or Lessor’s creditors. Minimum Rent shall axxxx during the time and to the extent the Premises are untenable as the result of any condemnation, but such abatement shall not extend the term. All condemnation awards and proceeds shall belong exclusively to Lessor, and Lessee shall not be entitled to, and expressly waives and assigns to Lessor, all claims for any compensation for condemnation of Lessor’s property; provided, however, if Lessee is permitted by applicable law to maintain a separate action that will not reduce condemnation awards or proceeds to Lessor, Lessee shall be permitted to pursue such separate action and to retain the recovery therefrom. Lessor shall give Lessee prompt notice of the filing of any action of condemnation, or comparable matter, in respect of all or any part of the Property. If Lessor exercises its right to terminate the Lease pursuant to this Section of the Lease as a result of a condemnation, or deed in lieu thereof, Lessee may nullify such termination by exercising its option to purchase the Premises under Section 35 within thirty (30) days after receipt of notice of such condemnation and Lxxxxx’s election to terminate, in which case all condemnation award paid proceeds shall belong exclusively to Landlord, after deducting Landlord’s reasonable costs in connection therewith), Lessee and the Base Rent shall be proportionately reduced assigned to Lessee by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationLessor.

Appears in 1 contract

Samples: Commercial Lease Agreement (Twin Vee PowerCats, Co.)

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Condemnation/Eminent Domain. In 18.1 If the event the whole of the Premises, and/or such Building or any part thereof as shall substantially interfere with Tenant’s use and occupation thereof, or the access thereto shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Landlord by giving a written notice of termination to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. If the right entire Premises or such portion thereof or the access thereto shall be so taken, appropriated or condemned, such that Tenant shall be precluded from effectively utilizing the Premises, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by giving a written condemnation. Upon the giving of any such notice of termination by either Landlord or Tenant this Lease and the Term hereof shall terminate as of the date on which Landlord or Tenant, as the case may be shall be required to vacate any portion of the area so taken, appropriated or condemned or shall be deprived of the means of access thereto- provided, however, that Landlord in its notice of termination may elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event any access points to adjoining streets, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate termination this Lease effective and the Term hereof shall expire as of the such effective termination date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent and all additional Rent shall be proportionately reduced by the time during which, and the portion apportioned as of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationsuch date.

Appears in 1 contract

Samples: Lease (Student Advantage Inc)

Condemnation/Eminent Domain. In case during the event Term all or any substantial part of the whole Premises or the Building are taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, this Lease shall terminate at Landlord’s election, which may be made (notwithstanding that Landlord’s entire interest may have been divested) by notice given to Tenant within 90 days after the election to terminate arises, specifying the effective date of termination. The effective date of termination specified by Landlord shall not be less than 15 nor more than 30 days after the date of notice of such termination. Unless terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect following any such taking, subject, however, to the following provisions. If in any such case the Premises are rendered unfit for use and occupation 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) to put the Premises, or what may remain thereof (excluding any items installed or paid for by Tenant which Tenant may be required to remove pursuant to Section 5.12), into proper condition for use and occupation and a just proportion of the Annual Fixed Rent and additional charges for Operating Expenses according to the nature and extent of the injury shall be abated until the 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 Premises, and/or such a just proportion of the Annual Fixed Rent and additional charges for Landlord’s Operating Expenses shall be abated for the remainder of the Term. If the entire Premises or the portions of the Building required for reasonable access to, or the reasonable use of, the Premises are taken by eminent domain, this Lease shall automatically end on the earlier of: (i) the date title vests; or (ii) the date Tenant is dispossessed by the condemning authority. If the taking of a part thereof as shall substantially interfere of the Premises materially interferes with Tenant’s use and occupation thereof, 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 is sold in lieu of or ability to prevent such taking, continue its business operations then Landlord and Tenant shall each have the right to terminate may end this Lease on the earlier of: (i) the date when title vests; (ii) the date Tenant is dispossessed by written the condemning authority; or (iii) sixty (60) days following notice to the other given no later than 10 days after Landlord notifies Tenant of such taking) effective as of the date possession when vesting or dispossession is required to be surrendered to said authorityoccur. In the event any access points to adjoining streets, 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 If there is sold in lieu of or to prevent such taking, a partial taking and such taking shall substantially interfere with Tenant’s use of the Premisesthis Lease continues, then Landlord or Tenant the Lease shall each have the right to terminate this Lease effective end as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), part taken and the Base Annual Fixed Rent shall be proportionately reduced by xxxxx in proportion to the time during which, and the portion part of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationtaken.

Appears in 1 contract

Samples: Disturbance and Attornment Agreement (BG Medicine, Inc.)

Condemnation/Eminent Domain. In the event that the whole of Building, the Premises, and/or such part Property or any portion thereof as shall substantially interfere with Tenant’s use and occupation thereof, shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation, then (and in any such event) this Lease and the term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by the Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the right event that the entire Premises or a portion of the Premises or the access to the Premises shall be so taken, appropriated or condemned such that Tenant shall be precluded from effectively utilizing the Premises, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the Term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the Premises or shall be deprived of a substantial part of the means of access thereto, provided, however, that Landlord may in Landlord's notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event of any access points to adjoining streetssuch termination, this Lease and the Term hereof shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise expire as of the effective termination date as fully and completely as if such date were the date originally fixed herein for the end of the Term of this Lease. If neither party (having the right of appropriationso to do) elects to terminate, condemnation or eminent domainLandlord will, or is sold in lieu of or to prevent such takingwith reasonable diligence and at Landlord's expense, and such taking shall substantially interfere with Tenant’s use restore the remainder of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as remainder of the date possession is required means of access, as nearly as practical to be surrendered the same condition as obtained prior to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, appropriation or condemnation in which event (i) a just proportion of the Annual Base Rent, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the Premises and the means of access thereto, shall be permanently abated, and (ii) a just proportion of the remainder of the Annual Base Rent, according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the Premises and the means of access thereto, shall be abated until what remains of the Premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any award specifically reimbursing Tenant for moving or relocation expenses or leasehold improvements made by Tenant at Tenant's sole expense and except for any award specifically made to Tenant for interruption of Tenant's business, there are expressly reserved to Landlord all rights to compensation and damages created, accrued or accruing by reason of any such taking, appropriation or condemnation. In implementation and in confirmation of which Tenant does hereby acknowledge that Landlord shall be entitled to receive the entire amount and retain all such compensation and damages, grants to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agrees to execute and deliver all and whatever further instruments of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed assignment as Landlord may from time to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensestime request. In the event of any taking of the amount of property Premises or the type of estate taken any part thereof for temporary use, (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Tenant shall be entitled to receive for itself any award made for such use, provided, that if any taking is for a period extending beyond the entire amount Term of this Lease, such award shall be apportioned between Landlord and Tenant as of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationTerm Expiration Date.

Appears in 1 contract

Samples: Lease Agreement (NeuroMetrix, Inc.)

Condemnation/Eminent Domain. In the event that the whole or any part of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, Building shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation then (and in any such event) this Lease and the Term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by the Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the right event that a substantial part of the Demised Premises or of the means of access thereto within the perimeter of the Property shall be so taken, appropriated or condemned, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the Term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the Demised Premises or shall be deprived of a substantial part of the means of access thereto, provided, however, that Landlord may in Landlord's notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event of any such termination, this Lease and the Term hereof shall expire as of the effective termination date as fully and completely as if such date were the date herein originally scheduled as the Termination Date. If neither party (having the right so to do) elects to terminate Landlord will, with reasonable diligence and at Landlord's expense, restore the remainder of the Demised Premises, or the remainder of the means of access, as nearly as practicably may be to the same condition as obtained prior to such taking, appropriation or condemnation in which event (i) a just proportion of the Yearly Fixed Rent and Additional Rent payable pursuant to Sections 6.2 and 6.3, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the Demised Premises and the means of access points to adjoining streetsthereto, shall be taken permanently abated, and (ii) a just proportion of the remainder of the Yearly Fixed Rent and Additional Rent payable pursuant to Sections 6.2 and 6.3, according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the Demised Premises and the means of access thereto, shall be abated until what remains of the Demised Premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any public award specifically reimbursing Tenant for moving or quasi-public purpose relocation expenses, there are expressly reserved to Landlord all rights to compensation and damages created, accrued or accruing by reason of any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, appropriation or condemnation, in implementation and such taking shall substantially interfere with Tenant’s use in confirmation of the Premises, then Landlord or which Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, and does hereby acknowledge that Landlord shall be entitled to receive the entire amount and retain all such compensation and damages, grants to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agrees to execute and deliver all and whatever further instruments of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed assignment as Landlord may from time to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensestime request. In the event of any taking of the amount of property Demised Premises or the type of estate taken any part thereof for temporary use, (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Tenant shall be entitled to receive for itself any award made for such use, provided, that if any taking is for a period extending beyond the entire amount Term of this Lease, such award shall be apportioned between Landlord and Tenant as of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationTermination Date.

Appears in 1 contract

Samples: Investment Technology Group Inc

Condemnation/Eminent Domain. In the event the whole If any portion of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, shall be Premises or the Building or the Land are taken for any public or quasi-public purpose by any lawful under the power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold in lieu under the threat of the exercise of said power (all of which are herein called "condemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs; provided that if so much of the Premises or Building or Land are taken by such condemnation as would substantially and adversely affect the operation and profitability of Tenant's business conducted from the Premises, and said taking lasts for ninety (90) days or more (subject to prevent such takingLandlord's right to replace same including any Common Areas), then Landlord and Tenant shall each have the option, to be exercised only in writing within thirty (30) days after Landlord shall have given Tenant written notice of such taking (or in the absence of such notice, within thirty (30) days after the condemning authority shall have taken possession), to terminate this Lease as of the date the condemning authority takes such possession. If a taking lasts for less than ninety (90) days, Tenant's rent shall be abated during said period but Tenant shall not have the right to terminate this Lease (by written notice to the other given no later than 10 days after Landlord notifies Lease. If Tenant of such taking) effective as of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streets, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to does not terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere accordance with the conduct of Tenant’s businessforegoing, Landlord this Lease shall be entitled remain in full force and effect as to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises whichremaining, except that the rent and Tenant's Proportionate Share of Operating Costs and Taxes shall be reduced in the proportion that the usable floor area of the Premises taken bears to the total usable floor area of the Premises. Common Areas taken shall be excluded from the Common Areas usable by Tenant and no reduction of rent shall occur with respect thereto or by reason thereof. Landlord shall have the option in its sole discretion to terminate this Lease as of the taking of possession by the condemning authority, by giving written notice to Tenant of such election within thirty (30) days after receipt of notice of a taking by condemnation of any part of the Premises or the Building. Any award for the taking of all or any part of the Premises or the Building or the Land under the power of eminent domain or any payment made under threat of the exercise of such power shall be the property of Landlord, whether such award shall be made as compensation for diminution in value of the leasehold or for the taking of the fee, as severance damages, or as damages for tenant improvements; provided, however, that Tenant shall be entitled to any separate award for loss of or damage to Tenant's trade fixtures and removable personal property and any award available for the relocation of Tenant's business so long as same does not reduce the award otherwise payable to Landlord. In the event that this Lease is not terminated by reason of such condemnation, and subject to the requirements of any lender that has made a loan to Landlord encumbering the Building, Landlord shall to the extent of severance damages received by Landlord in connection with such condemnation, repair any damage to the Building caused by such condemnation except to the extent that Tenant has been reimbursed therefor by the condemning authority. . Except as set forth in this Article 20, Landlord shall have been deprived no liability to Tenant for interruption of possession on account Tenant's business upon the Premises, diminution of said taking and restorationTenant's ability to use the Premises, or other injury or damage sustained by Tenant as a result of such condemnation.

Appears in 1 contract

Samples: Lease by And (Cambex Corp)

Condemnation/Eminent Domain. In the event that the whole of Building, the Premises, and/or such part Property or any portion thereof as shall substantially interfere with Tenant’s use and occupation thereof, shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation, then (and in any such event) this Lease and the term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the right event that the entire Premises or a portion of the Premises or the access to the Premises shall be so taken, appropriated or condemned such that Tenant shall be precluded from effectively utilizing the Premises, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the Term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the Premises or shall be deprived of a substantial part of the means of access thereto, provided, however, that Landlord may in Landlord's notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event of any access points to adjoining streetssuch termination, this Lease and the Term hereof shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise expire as of the effective termination date as fully and completely as if such date were the date originally fixed herein for the end of the Term of this Lease. If neither party (having the right of appropriationso to do) elects to terminate, condemnation or eminent domainLandlord will, or is sold in lieu of or to prevent such takingwith reasonable diligence and at Landlord's expense, and such taking shall substantially interfere with Tenant’s use restore the remainder of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as remainder of the date possession is required means of access, as nearly as practical to be surrendered the same condition as obtained prior to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, appropriation or condemnation in which event (i) a just proportion of the Annual Base Rent, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the Premises and the means of access thereto, shall be permanently abated, and (ii) a just proportion of the remainder of the Annual Base Rent, according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the Premises and the means of access thereto, shall be abated until what remains of the Premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any award specifically reimbursing Tenant for moving or relocation expenses and except for any award specifically made to Tenant for interruption of Tenant's business, there are expressly reserved to Landlord all rights to compensation and damages created, accrued or accruing by reason of any such taking, appropriation or condemnation. In implementation and in confirmation of which Tenant does hereby acknowledge that Landlord shall be entitled to receive the entire amount and retain all such compensation and damages, grants to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agrees to execute and deliver all and whatever further instruments of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed assignment as Landlord may from time to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensestime request. In the event of any taking of the amount of property Premises or the type of estate taken any part thereof for temporary use, (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Tenant shall be entitled to receive for itself any award made for such use, provided, that if any taking is for a period extending beyond the entire amount Term of this Lease, such award shall be apportioned between Landlord and Tenant as of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationTerm Expiration Date.

Appears in 1 contract

Samples: Lease Agreement (Acer Therapeutics Inc.)

Condemnation/Eminent Domain. In 25.1 If the event land and Leased Premises leased herein, or of which the whole of the PremisesLeased Premises are a part, and/or such part thereof as shall substantially interfere with or a portion thereof, materially adversely affecting Tenant’s use and occupation thereofoccupancy, in Tenant’s reasonable judgment, shall be taken for any public under eminent domain or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainproceedings, or is sold if suit or other action shall be instituted for the taking or condemnation thereof, of or in lieu of any formal condemnation proceedings or actions, the Landlord shall sell and convey the said Leased Premises or such portion thereof, to prevent the governmental or other public authority, agency, body or public utility, seeking to take said land and Leased Premises or such takingportion thereof, then this Lease, at the option of the Landlord or Tenant, shall terminate, and the term hereof shall end as of such date of transfer of title; and the Tenant shall each have the no claim or right to terminate this Lease (by written notice claim or be entitled to any portion of any amount which may be awarded as damages to Landlord or paid to Landlord as the other given no later than 10 days after Landlord notifies Tenant result of such taking) effective condemnation proceedings or paid to Landlord as of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streets, shall be taken purchase price for any public such sale or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold conveyance in lieu of formal condemnation proceedings. The Tenant agrees to execute and deliver any instruments, at the expense of the Landlord, as may be deemed necessary or required to expedite any condemnation proceedings or to prevent effectuate a proper transfer of title to such takinggovernmental or other public authority, agency, body or public utility seeking to take or acquire the said lands and Leased Premises or such taking shall substantially interfere with portion thereof. The Tenant covenants and agrees to vacate the said Leased Premises, remove all of Tenant’s use Leased Premises therefrom and deliver up peaceable possession thereof to the said purchaser. Failure by the Tenant to comply with any provisions in this clause shall subject the Tenant to such costs, expenses, damages and losses as the Landlord may incur by reason of the Premises, then Landlord or Tenant’s default thereof. The Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 relocation expenses awarded by a court in condemnation or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest paid in any separate award made to Tenant for the taking negotiated acquisition in lieu of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationcondemnation.

Appears in 1 contract

Samples: Lease Agreement (Ikaria, Inc.)

Condemnation/Eminent Domain. In case during the event the whole Term all of the PremisesPremises or the Building are taken, and/or condemned, requisitioned or sold in or on account of any eminent domain proceeding or by other action by any authority having the power of eminent domain (any of the foregoing being hereinafter referred to as a "Taking" and any portion of the Premises or the Building subjected to a Taking being referred to as being "Taken") this Lease shall terminate as of the date of the Taking as if such part thereof as date were the date of the ordinary expiration of the Term. If at least 20% of the Premises are Taken, Tenant shall substantially interfere with Tenant’s have the right to terminate this Lease (notwithstanding that Landlord's entire interest may have been divested) by notice given to Landlord within 90 days after the date of such taking. If the remainder of the Premises are not in a proper condition for use and occupation thereofoccupation, shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise Landlord shall, as promptly as practicable, notify Tenant of the right extent to which repairs to the Premises can be made based on available proceeds of appropriationcondemnation ("Landlord's Condemnation Notice"). If such a substantial part of the Building or the Premises are Taken that the remainder of the Building or the Premises cannot, condemnation after any repairs proposed by Landlord, be operated in the ordinary course of Tenant's or eminent domainLandlord's business, or is sold in lieu of or to prevent such taking, then Landlord and Tenant shall each have the right to terminate this Lease (by written notice to the other given no later than 10 within 90 days after the delivery of Landlord's Condemnation Notice. Any notice of termination under this Section 6.2 shall specify the effective date of termination, and this Lease shall terminate on such date as if such date were the date of the ordinary expiration of the Term. The effective date of termination specified by Landlord notifies or Tenant shall not be less than 15 nor more than 30 days after the date of notice of such taking) effective as of termination. Unless terminated pursuant to the date possession is required to be surrendered to said authority. In the event foregoing provisions, this Lease shall remain in full force and effect following any access points to adjoining streets, 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 is sold in lieu of or to prevent such taking, subject, however, to the following provisions. If in any such case the Premises are rendered unfit for use and occupation and this Lease is not terminated, Landlord shall use due diligence (following the expiration of the period in which Landlord or Tenant may terminate this Lease pursuant to the foregoing provisions of this Section), to the extent of the available proceeds of condemnation, to put the Premises, or what may remain thereof (excluding Tenant's Removable Property), into proper condition for use and occupation and a just proportion of the Fixed Rent and additional rent for Operating Expenses according to the nature and extent of the injury shall be abated until the Premises or such remainder shall have been put by Landlord in such condition; and in case of a taking shall substantially interfere with Tenant’s use which permanently reduces the area of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as a just proportion of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority Fixed Rent and additional rent for any compensation because of such taking, and Landlord Operating Expenses shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant abated for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount remainder of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationTerm.

Appears in 1 contract

Samples: Lease (Cascade Communications Corp)

Condemnation/Eminent Domain. In the event the whole of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, shall be taken for If any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, then Landlord and Tenant shall each have the right to terminate this Lease (by written notice to the other given no later than 10 days after Landlord notifies Tenant of such taking) effective as of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streets, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises whichof which the leased Premises are a part shall be taken under eminent domain or condemnation proceedings, or if suit or other action shall be instituted for the taking or condemnation thereof, or if in lieu of any formal condemnation proceedings or actions, the Landlord shall grant an option to purchase and or shall sell and convey the said Premises or any portion thereof, to the governmental or other public authority, agency, body or public utility, seeking to take said land and Premises or any portion thereof, then this Lease, at the option of the Landlord, shall terminate, and the Term hereof shall end as of such date as the Landlord shall fix by notice in writing. The Tenant shall have been deprived no claim or right to claim or be entitled to any portion of any amount which may be awarded as damages or paid as the result of such condemnation proceedings or paid as the purchase price for such option, sale or conveyance in lieu of formal condemnation proceedings. All rights of the Tenant to damages, if any, are hereby assigned to the Landlord. The Tenant agrees to execute and deliver any instruments, at the expense of the Landlord, as may be deemed necessary to expedite any condemnation proceedings or to effectuate a proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the said lands and Premises of any portion thereof. The Tenant agrees to vacate the said Premises, remove all of the Tenant’s personal property therefrom and deliver up peaceable possession on account thereof to the Landlord or to such other party designated by the Landlord. The Tenant shall repay the Landlord for such costs, expenses, damages and losses as the Landlord may incur by reason of said taking and restorationthe Tenant’s breach hereof.

Appears in 1 contract

Samples: Lease Agreement (Akorn Inc)

Condemnation/Eminent Domain. In If Premises leased herein, or of which the event the whole of the PremisesPremises are a part, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation or any portion thereof, shall be taken under eminent domain or condemnation proceedings or if such or other action shall be instituted for any public the taking or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainthereof, or is sold if in lieu of any formal condemnation proceeding, the Landlord shall grant an option to purchase and/or shall sell and convey the Premises, or any portion thereof to prevent such takinga governmental or other public authority, agency, body or public utility seeking to take said land and Premises, or any portion thereof which renders the Premises unusable for the use of Tenant set forth herein, then Landlord and Tenant shall each have the right to terminate this Lease (by written notice to Agreement shall terminate, and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective term hereof shall end as of the date possession is required Landlord conveys the Premises. Tenant shall have no claim or right to claim or be surrendered entitled to said authority. In any portion of any amount which may be awarded as damages or paid as the event any access points to adjoining streetsresult of such condemnation proceedings or paid as the purchase price for such option, shall be taken for any public sale or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold conveyance in lieu of or formal proceedings except that Landlord shall pay Tenant reasonable moving expenses and reimbursement to prevent such taking, and such taking shall substantially interfere with Tenant’s use Tenant of the fair market value at the time of the condemnation award of fixtures installed by Tenant which cannot be removed without damaging the integrity of the Premises. Tenant agrees to execute and deliver any and all instruments, then Landlord or Tenant shall each have at the right to terminate this Lease effective as expense of the date possession is Landlord, as may be deemed necessary or required to be surrendered expedite any condemnation proceedings or to effectuate a proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the said authoritylands and Premises, or any portion thereof. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, covenants and Landlord shall be entitled agrees to receive the entire amount of any award without deduction for any estate or interest of Tenant in vacate the Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of , remove all Tenant’s personal property therefrom and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion deliver up peaceable possession of the Premises whichto Landlord or to such other party designated by Landlord in the aforementioned notice. Failure by the tenant to comply with any provisions in this clause shall subject the Tenant to such costs, Tenant shall have been deprived expenses, damages and losses as the Landlord reasonably and actually incurs by reason of possession on account of said taking and restorationthe Tenant’s breach hereof.

Appears in 1 contract

Samples: Lease Agreement (Samsara Vision, Inc)

Condemnation/Eminent Domain. In the event that the whole of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, Premises shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power use either permanently or authority by exercise for a period of at ;east one year, this Lease shall cease and terminate as of the date the taking, appropriating or condemning agency has the right to possession of appropriationthe Premises; provided, condemnation however, if the taking is temporary, Lessee shall have the option to continue this Lease by so notifying Lessor in writing within sixty (60) days of the taking, and, upon such notification, the provisions of this paragraph shall apply as if such taking were for a period of less than one year. If less than the whole of the Premises is so taken, appropriated or eminent domain, or condemned and the floor area of the Premises is sold in lieu of or to prevent reduced by more than twenty percent (20%) by such taking, then Landlord and Tenant appropriation or condemnation, Lessee shall each have the right option, by notice in writing to the other within 30 days following the date on which Lessee received notice of such taking, appropriation or condemnation, to terminate this Lease. Upon the giving of any such notice of termination by Lessee, this Lease and the Term of this Lease shall terminate on or retroactively as of the date on which Lessee shall be required to vacate any part of the Demised Premises. In the event of any such termination, this Lease and the Term of this Lease shall expire as of the effective termination date as fully and completely as if such date were the date originally fixed in this Lease for the end of the Term of this Lease. In the event of any other taking, appropriation or condemnation or if Lessee is entitled to terminate this Lease (by written notice but does not elect to do so, Lessor will, with reasonable diligence and at Lessor's expense, restore the remainder of the Demised Premises as nearly as practical to the other given no later than 10 days after Landlord notifies Tenant of same condition as obtained prior to such taking, appropriation or condemnation in which event (i) effective as a just proportion of the date possession is required Annual Base Rent, according to be surrendered the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to said authority. In the event any access points to adjoining streetsPremises, shall be taken permanently abated, and (ii) a just proportion of the remainder of the Annual Base Rent, according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the Premises, shall be abated until what remains of the Premises shall have been restored as fully as may be for permanent use and occupation by Lessee for the Use of the Demised Premises hereunder. Except for any public award specifically reimbursing Lessee for moving, relocation or quasi-public purpose Lessee's improvement (reduced by any lawful power cost to bring the Demised Premises into Class A office space) expenses, except for any award specifically made to Lessee for interruption of Lessee's business and except for any award made to Lessee for damage or authority loss of Lessee's personal property and equipment, there are expressly reserved to Lessor all rights to compensation and damages created, accrued or accruing by exercise reason of the right of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent any such taking, appropriation or condemnation. In implementation and such taking shall substantially interfere with Tenant’s use in confirmation of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord which Lessee does acknowledge that Lessor shall be entitled to receive the entire amount and retain all such compensation and damages, grants to Lessor all and whatever rights (if any) Lessee may have to such compensation and damages, and agrees to execute and deliver all and whatever further instruments of assignment as Lessor may from time to time request. In any condemnation proceeding, Lessee and Lessor shall each seek its award in conformity with this Article, at its respective expense; provided that Lessee shall not initiate, prosecute or acquiesce in any proceedings that may result in diminution of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed payable to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensesLessor. In the event of any taking of the amount Demised Premises or any part thereof for a period of property or the type of estate taken less than one year, (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Lessee shall be entitled to negotiate with the entire amount taking authority and to receive for itself any award made for such use, provided, that if any taking is for a period extending beyond the Term of this Lease, such award shall be apportioned between Lessor and Lessee as of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationTerm Expiration Date.

Appears in 1 contract

Samples: 1 Lease Agreement (Geltex Pharmaceuticals Inc)

Condemnation/Eminent Domain. In the event the whole If there is any taking of, or damage to, all or part of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereofthe Building or the Land, shall be taken for or any public or quasi-public purpose by any lawful power or authority by interest therein, because of the exercise of the right power of appropriationeminent domain or inverse condemnation, whether by condemnation or eminent domainproceedings, or otherwise, or any transfer or any part thereof or any interest herein made in avoidance thereof (all of the foregoing being hereinafter referred to as "taking") before or during the term hereof, this lease shall terminate, at Lessor's option, on the date when Lessor is sold actually deprived of possession of the Land, the Building or the Premises, or some part thereof (the "Termination Date"), and thereupon the parties hereto shall be released from all further obligations hereunder, and Lessor shall thereupon repay Lessee any rental theretofore paid by Lessee and unearned at the Termination Date. The total and entire award or compensation in lieu of such proceedings, whether for a total or to prevent such partial taking, then Landlord or for diminution in the value of the leasehold or for the fee or for any other reason shall belong to, and Tenant be the property of, Lessor; provided, that Lessee shall each have be entitled to recover from the condemnor such compensation as may be separately awarded by the condemnor to Lessee or recoverable from the condemnor by Lessee in its own right for the taking of trade fixtures and equipment owned by Lessee in its own right (meaning personal property, whether or not attached to real property, which may be removed without injury to the Premises) and for the expense of removing and relocating them, and for the loss of goodwill to the extent that is severally awardable. Except for any right to terminate this Lease (recovery by written notice Lessee expressly enumerated herein, Lessee does hereby waive, renounce and quit claim to the other Lessor any right in and to any award, judgment, payment or compensation which shall or may be made or given no later than 10 days after Landlord notifies Tenant because of such taking) effective as of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streets, 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 is sold in lieu of or to prevent such taking, and such a taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord Building 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationLand.

Appears in 1 contract

Samples: Lease (Voice Powered Technology International Inc)

Condemnation/Eminent Domain. In the event the whole If any portion of the Premises, and/or such premises of which the leased premises are a part thereof as shall substantially interfere with Tenant’s use and occupation thereof, shall be taken for any public under eminent domain or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainproceedings, or is sold if suit or other action shall be instituted for the taking or condemnation thereof; or if in lieu of any formal condemnation proceedings or actions, the Landlord shall grant an option to prevent purchase and or shall sell and convey the said premises or any portion thereof, to the governmental or other public authority, agency, body or public utility, seeking to take said l and and premises or any portion thereof; then this Lease, at the option of the Landlord, shall terminate, and the term hereof shall end as of such taking, then date as the Landlord and shall fix by notice in writing. The Tenant shall each have the no claim or right to terminate this Lease (by written notice claim or be entitled to any portion of any amount which may be awarded as damages or paid as the other given no later than 10 days after Landlord notifies Tenant result of such taking) effective condemnation proceedings or paid as of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streetspurchase price for such option, shall be taken for any public sale or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold conveyance in lieu of formal condemnation proceedings. All rights of the Tenant to damages, if any, are hereby assigned to the Landlord. The Tenant agrees to execute and deliver any instruments, at the expense of the Landlord, as may be deemed necessary to expedite any condemnation proceedings or to prevent effectuate a proper transfer of title to such takinggovernmental or other public authority, agency, body or public utility seeking to take or acquire the said lands and premises of any portion thereof. The Tenant agrees to vacate the said premises, remove all the Tenant's personal property therefrom and deliver up peaceable possession thereof to the Landlord or to such taking other party designated by the Landlord. The Tenant shall substantially interfere with Tenant’s use repay the Landlord for such costs, expenses, damages and losses as the Landlord may incur by reason of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restoration's breach hereof.

Appears in 1 contract

Samples: Lease Agreement (American Asset Management Corp)

Condemnation/Eminent Domain. In the event the whole If any portion of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, shall be Premises or the Building are taken for any public or quasi-public purpose by any lawful under the power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold in lieu under the threat of the exercise of said power (all of which are herein called "condemnation"), this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or to prevent possession, whichever first occurs; provided that if so much of the Premises or Building are taken by such takingcondemnation as would substantially and adversely affect the operation and profitability of Tenant's business conducted from the Premises, then Landlord and said taking lasts for sixty (60) days or more, Tenant shall each have the option, to be exercised only in writing within thirty (30) days after Landlord shall have given Tenant written notice of such taking (or in the absence of such notice, within thirty (30) days after the condemning authority shall have taken possession), to terminate this Lease as of the date the condemning authority takes such possession. If a taking lasts for less than sixty (60) days, Tenant's rent shall be equitably abated during said period but Tenant shall not have the right to terminate this Lease (by written notice to the other given no later than 10 days after Landlord notifies Lease. If Tenant of such taking) effective as of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streets, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to does not terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere accordance with the conduct of Tenant’s businessforegoing, Landlord this Lease shall be entitled remain in full force and effect as to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises whichremaining, except that the rent and Tenant's Proportionate Share of Operating Costs and Taxes shall be reduced in the proportion that the usable floor area of the Premises taken bears to the total usable floor area of the Premises. Common Areas taken shall be excluded from the Common Areas usable by Tenant and no reduction of rent shall occur with respect thereto or by reason thereof. Landlord shall have the option in its sole discretion to terminate this Lease as of the taking of possession by the condemning authority, by giving written notice to Tenant of such election within thirty (30) days after receipt of notice of a taking by condemnation of any part of the Premises or the Building. Any award for the taking of all or any part of the Premises or the Building under the power of eminent domain or any payment made under threat of the exercise of such power shall be the property of Landlord, whether such award shall be made as compensation for diminution in value of the leasehold or for the taking of the fee, as severance damages, or as damages for tenant improvements; provided, however, that Tenant shall be entitled to any separate award for loss of or damage to Tenant's trade fixtures and removable personal property and any award available for the relocation of Tenant's business. In the event that this Lease is not terminated by reason of such condemnation, and subject to the requirements of any lender that has made a loan to Landlord encumbering the Building, Landlord shall to the extent of severance damages received by Landlord in connection with such condemnation, repair any damage to the Building caused by such condemnation except to the extent that Tenant has been reimbursed therefor by the condemning authority. Tenant shall pay any amount in excess of such severance damages required to complete such repair. Except as set forth in this Article 20, Landlord shall have been deprived no liability to Tenant for interruption of possession on account Tenant's business upon the Premises, diminution of said taking and restorationTenant's ability to use the Premises, or other injury or damage sustained by Tenant as a result of such condemnation.

Appears in 1 contract

Samples: Brooks Automation Inc

Condemnation/Eminent Domain. In TAKING If the event whole or substantially the whole of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, shall Leased Premises should be taken for any public or quasi-public purpose use under any governmental law, ordinance, or regulation, or by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is should be sold to the condemning authority in lieu of or to prevent such takingcondemnation, then Landlord and Tenant shall each have the right to terminate this Lease (by written notice to the other given no later than 10 days after Landlord notifies Tenant of such taking) effective shall terminate as of the date when physical possession of the Leased Premises is required to be surrendered to said taken by the condemning authority. In If less than the event any access points whole or substantially the whole of the Leased Premises is thus taken or sold, Landlord (whether or not the Leased Premises are affected thereby) may terminate this Lease by giving written notice thereof to adjoining streets, shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise of Tenant within sixty (60) days after the right of appropriationelection accrues, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate which event this Lease effective shall terminate as of the date when physical possession of such portion of the Leased Premises is required to be surrendered to said taken by the condemning authority. Except as provided below, Tenant If upon any such taking or sale of less than the whole or substantially the whole of the Leased Premises this Lease shall not assert any claim against Landlord be thus terminated, the monthly Minimum Rental payable hereunder shall be diminished by an amount representing that part of the monthly Minimum Rental attributable to the portion of the building which was so taken or the taking authority for any compensation because of such takingsold or affected, and Landlord shall be entitled to receive shall, at Landlord's sole expense, restore and reconstruct the entire amount of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount remainder of the award without deduction for any estate or interest of Tenantbuilding, Landlord shall promptly proceed to restore as the Building case may be, to substantially their same former condition prior to the extent that the same, in Landlord's judgment, may be feasible; Landlord not being required in any event to spend for such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration work an amount in excess of the amount received by Landlord as compensation awarded upon a taking of any part or all of the award paid building. Tenant shall not be entitled to Landlord, after deducting Landlord’s reasonable costs in connection therewith)any claim as a result of such condemnation relating to the taking of its leasehold interest, and the Base Rent shall be proportionately reduced by the time during which, hereby assigns over to Landlord any and the portion all of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationTenant's claim therein or thereto.

Appears in 1 contract

Samples: Lease (Timco Aviation Services Inc)

Condemnation/Eminent Domain. In the event the whole of If the Premises, and/or or such part portion thereof as shall substantially interfere with to render the balance (when reconstructed) unsuitable for the purposes of Tenant’s use and occupation thereof, shall be taken for any public by condemnation or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent such takingeither party, then Landlord and Tenant shall each have the right to terminate this Lease (by upon written notice to the other given no later than 10 days after Landlord notifies Tenant of such taking) effective as of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streetsother, shall be taken entitled to terminate this lease, provided that such notice is given not later than thirty (30) days after Tenant has been deprived of possession. Landlord agrees to expend so much, as may be necessary of the net amount which may be awarded to 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 practicable. Should the net amount so awarded to Landlord be insufficient to cover the cost of restoring the Premises, as estimated by Landlord's architect, Landlord may, but shall not be obligated to, supply the amount of such insufficiency and restore said premises as above provided, with all reasonable diligence, or terminate this lease. Where the Tenant has not already exercised any right of termination accorded to it under the foregoing portion of this paragraph, Landlord shall notify Tenant of Landlord's election not later than ninety (90) days after the final determination of the amount of the award. Out of any award for any public or quasi-public purpose by any lawful power or authority by exercise taking of the Landlord's interest in the Premises, in condemnation proceedings or by right of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, and Landlord shall be entitled to receive and retain the entire amount of any award without deduction amounts awarded for such Premises and for Landlord's business loss. Landlord reserves, and Tenant assigns to Landlord, all rights which Tenant may have for damages or injury to the Premises for any estate taking by eminent domain, except for damage to Tenant's fixtures, property, or interest of Tenant equipment and those relocation expenses provided in the Premises. Nothing contained in this Article 12 shall be deemed to give Landlord M.G.L. c. 79A, Section 7 or any interest in any separate award made to Tenant for the taking of personal property other federal or state law or statute, provided Landlords rights and fixtures belonging to Tenant or for Tenant’s moving expensesclaims hereunder are neither reduced nor otherwise impaired. In the event of any such taking of the amount Premises, the Base Rent, additional rent and the pro rata charge specified in ARTICLE 4 of property this lease, or a fair and just proportion thereof, according to the type nature and extent of estate taken shall not substantially interfere with the conduct of Tenant’s businessdamage sustained, Landlord shall be entitled to the entire amount of the award without deduction for any estate suspended or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationabated.

Appears in 1 contract

Samples: Lease Agreement (Applix Inc /Ma/)

Condemnation/Eminent Domain. In the event the whole that substantially all of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, Building or the Property shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation, then (and in any such event) this Lease and the term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the right event that (i) the entire Building or (ii) a substantial portion of the Building or the access to the Building shall be so taken (including, without limitation, any portion of the Parking Areas such that the number of cars that may be legally parked on the Property is reduced by more than 40% or the means of vehicular access to the remaining Parking Areas is eliminated), appropriated or condemned such that Tenant shall be reasonably precluded from effectively utilizing the Premises for the permitted Use of the Premises for a period of time greater than 12 months, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the Term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the Premises or shall be deprived of a substantial part of the means of access thereto, provided, however, that Landlord may in Landlord's notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event of any access points to adjoining streetssuch termination, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective and the Term hereof shall expire as of the effective termination date possession is required as fully and completely as if such date were the date originally fixed herein for the end of the Term of this Lease. If neither party (having the right so to be surrendered do) elects to said authority. Except as provided belowterminate, Landlord shall, with reasonable diligence and at Landlord's expense, restore the remainder of the Building or other portion of the Property (to the extent applicable and to the extent of Landlord’s repair and restoration obligations in paragraph (a) above in Article 13.0, “CASUALTY”) and, upon notice from Landlord, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such takingshall, with reasonable diligence and Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for at Tenant’s moving expenses. In expense, restore the event remainder of the amount Building or other portion of property or the type of estate taken shall not substantially interfere with Property (to the conduct extent applicable and to the extent of Tenant’s businessrepair and restoration obligations in paragraph (a) above in Article 13.0, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restoration.

Appears in 1 contract

Samples: Lease Agreement (OvaScience, Inc.)

Condemnation/Eminent Domain. In the event that the whole or any material part of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, Building shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation then (and in any such event) this Lease and the Term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by the Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the right event that more than twenty-five percent (25%) of the floor area of the Demised Premises shall be so taken, appropriated or condemned, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the Term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the Demised Premises or shall be deprived of a substantial part of the means of access thereto, provided, however, that Landlord may in Landlord's notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event of any such termination, this Lease and the Term hereof shall expire as of the effective termination date as fully and completely as if such date were the date herein originally scheduled as the Termination Date. If neither party (having the right so to do) elects to terminate Landlord will, with reasonable diligence and at Landlord's expense, restore the remainder of the Demised Premises, or the remainder of the means of access, as nearly as practicably may be to the same condition as obtained prior to such taking, appropriation or condemnation in which event (i) a just proportion of the Yearly Fixed Rent and Additional Rent, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the Demised Premises and the means of access points to adjoining streetsthereto, shall be taken permanently abated, and (ii) a just proportion of the remainder of the Yearly Fixed Rent and Additional Rent, according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the Premises and the means of access thereto, shall be abated until what remains of the Premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any public award specifically reimbursing Tenant for moving or quasi-public purpose relocation expenses and Tenant's removable fixtures and equipment, there are expressly reserved to Landlord all rights to compensation and damages created, accrued or accruing by reason of any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, appropriation or condemnation, in implementation and such taking shall substantially interfere with Tenant’s use in confirmation of the Premises, then Landlord or which Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, and does hereby acknowledge that Landlord shall be entitled to receive the entire amount and retain all such compensation and damages, grants to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agrees to execute and deliver all and whatever further instruments 7/12/95 24 29 of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed assignment as Landlord may from time to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensestime request. In the event of any taking of the amount of property Demised Premises or the type of estate taken any part thereof for temporary use, (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Tenant shall be entitled to receive for itself any award made for such use, provided, that if any taking is for a period extending beyond the entire amount Term of this Lease, such award shall be apportioned between Landlord and Tenant as of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationTermination Date.

Appears in 1 contract

Samples: Entire Agreement (International Integration Inc)

Condemnation/Eminent Domain. In the event the whole If any portion of the Premisespremises of which the Premises are a part is taken under eminent domain or condemnation proceedings, and/or such part thereof as suit or other action shall substantially interfere with Tenant’s use and occupation be instituted for the taking or condemnation thereof, 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 is sold in lieu of any formal condemnation proceedings or actions, Landlord grants an option to prevent purchase and or sells and conveys the Premises or any portion thereof to the governmental or other public authority, agency, body or public utility seeking to take the Premises or any portion thereof, this Lease, at the option of Landlord, shall terminate, and the term hereof shall end as of such taking, then date as Landlord and fixes by notice in writing. Tenant shall each have the no claim or right to terminate this Lease (by written notice claim or be entitled to any portion of any amount that may be awarded as damages or as the other given no later than 10 days after Landlord notifies Tenant result of condemnation proceedings or paid as the purchase price for such taking) effective as of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streetsoption, shall be taken for any public sale or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold conveyance in lieu of or to prevent such taking, formal condemnation proceedings. Tenant may file a claim for any taking of fixtures and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or improvements owned by Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authorityand moving expenses. Except as provided belowin the preceding sentence, all rights of Tenant to damages, if any, are hereby assigned to Landlord. Tenant shall not assert execute and deliver any claim against instruments as may be deemed necessary to expedite any condemnation proceedings or to effectuate proper transfer of title to such governmental or other public authority, agency, body or public utility seeking to take or acquire the Premises or any portion thereof. Tenant shall vacate the Premises, remove all of Tenant's personal property therefrom and deliver peaceable possession to Landlord or the taking authority any other party designated by Landlord. Tenant shall repay Landlord for any compensation because of such takingcosts, expenses, damages and losses Landlord shall be entitled to receive the entire amount of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct may incur by reason of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restoration's breach hereof.

Appears in 1 contract

Samples: Lease Agreement

Condemnation/Eminent Domain. In the event that the Premises or any part thereof, or the whole or any part of the Premises, and/or Building (but in no event less than ten percent (10%) of the Building unless such part thereof as shall substantially interfere with Tenant’s use and occupation thereofportion is necessary for access thereto), shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the right event that a part of the Premises or the means of access thereto shall be so taken, appropriated or condemned, and in either case, the remainder of the Premises or the mode of access thereto is, in Tenant’s good faith judgment, unsuitable for the operation of Tenant’s business in the Premises, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the Term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the Premises or shall be deprived of a substantial part of the means of access thereto, provided, however, that Landlord may in Landlord’s notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event of any access points to adjoining streetssuch termination, this Lease and the Term hereof shall expire as of such effective termination date as though that were the Expiration Date as stated in Exhibit 1, and the Yearly Rent (together with Operating Costs Excess and Tax Excess) shall be taken for any public or quasi-public purpose by any lawful power or authority by exercise apportioned as of such date. If neither party (having the right of appropriationso to do) elects to terminate Landlord will, condemnation or eminent domainwith reasonable diligence and at Landlord’s expense, or is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use restore the remainder of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as remainder of the date possession is required means of access, as nearly as practicably may be to be surrendered the same condition as obtained prior to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, appropriation or condemnation in which event (i) the Total Rentable Area shall be equitably adjusted, (ii) a just proportion of the Yearly Rent, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the Premises and the means of access thereto, shall be permanently abated, and (iii) a just proportion of the remainder of the Yearly Rent, according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the Premises and the means of access thereto, shall be abated until what remains of the Premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any award specifically reimbursing Tenant for moving or relocation expenses or for Tenant’s personal property, there are expressly reserved to Landlord all rights to compensation and damages created, accrued or accruing by reason of any such taking, appropriation or condemnation, in implementation and in confirmation of which Xxxxxx does hereby acknowledge that Landlord shall be entitled to receive the entire amount all such compensation and damages, grant to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agree to execute and deliver all and whatever further instruments of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed assignment as Landlord may from time to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensestime reasonably request. In the event of any taking of the amount Premises or any part thereof for temporary (i.e., not in excess of property or the type of estate taken one (1) year) use, (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Tenant shall be entitled to receive for itself any award made to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed extent allocable to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived in respect of possession such taking on account of said such use, provided, that if any taking is for a period extending beyond the Term of this Lease, such award shall be apportioned between Landlord and restorationTenant as of the Expiration Date or earlier termination of this Lease.

Appears in 1 contract

Samples: Foundation Medicine, Inc.

Condemnation/Eminent Domain. In the event that the whole or any part of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, Building shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation then (and in any such event) this Lease and the Term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the right event that a substantial part of the Demised Premises or of the means of access thereto within the perimeter of the Property shall be so taken, appropriated or condemned, then (and in any such event) this Lease and the Term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the Term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the Demised Premises or shall be deprived of a substantial part of the means of access thereto, provided, however, that Landlord may in Landlord’s notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event of any such termination, this Lease and the Term hereof shall expire as of the effective termination date as fully and completely as if such date were the date herein originally scheduled as the Termination Date. If neither party (having the right so to do) elects to terminate this Lease, Landlord will, with reasonable diligence and at Landlord’s expense, restore the remainder of the Demised Premises, or the remainder of the means of access points thereto, as nearly as practicably may be to adjoining streetsthe same condition as obtained prior to such taking, appropriation or condemnation in which event (i) a just proportion of the Yearly Fixed Rent, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the Demised Premises and the means of access thereto, shall be taken permanently abated, and (ii) a just proportion of the remainder of the Yearly Fixed Rent, according to the nature and extent of the taking, appropriation or condemnation and the resultant injury sustained by the Demised Premises and the means of access thereto, shall be abated until what remains of the Demised Premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any public award specifically reimbursing Tenant for moving or quasi-public purpose relocation expenses, there are expressly reserved to Landlord all rights to compensation and damages created, accrued or accruing by reason of any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, appropriation or condemnation, in implementation and such taking shall substantially interfere with Tenant’s use in confirmation of the Premises, then Landlord or which Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, and does hereby acknowledge that Landlord shall be entitled to receive the entire amount and retain all such compensation and damages, grants to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agrees to execute and deliver all and whatever further instruments of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed assignment as Landlord may from time to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensestime request. In the event of any taking of the amount of property Demised Premises or any part thereof for temporary use, so long as the type of estate taken period thereof is not more than twelve (12) consecutive months and will not extend beyond the Termination Date, (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Tenant shall be entitled to receive for itself any award made for such use, provided, that if any taking is for a period extending beyond the entire amount Term of this Lease, such award shall be apportioned between Landlord and Tenant as of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationTermination Date.

Appears in 1 contract

Samples: Agreement of Lease (Investment Technology Group Inc)

Condemnation/Eminent Domain. (a) In the event that the Leased Premises or any substantial part thereof, or the whole or any substantial part of the PremisesBuilding, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereofor the access thereto, shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold in lieu (by virtue of or to prevent any such taking, then appropriation or condemnation) shall suffer any damage (direct, indirect or consequential) for which Landlord and or Tenant shall each be entitled to compensation, then (and in any such event) this Lease and the Lease Term hereof may be terminated at the election of Landlord by a notice in writing of its election so to terminate which shall be given by Landlord to Tenant within sixty (60) days following the date on which Landlord shall have received notice of such taking, appropriation or condemnation. If the right entire Leased Premises or such portion thereof or the access thereto shall be so taken, appropriated or condemned, such that Tenant shall be precluded from effectively utilizing the Leased Premises in the reasonable judgment of Landlord, then (and in any such event) this Lease and the Lease Term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord within sixty (60) days following the date on which Tenant shall have received notice of such taking, appropriation or condemnation. Upon the giving of any such notice of termination (either by Landlord or Tenant) this Lease and the Lease Term hereof shall terminate on or retroactively as of the date on which Landlord or Tenant, as the case may be, shall be required to vacate any portion of the area so taken, appropriated or condemned or shall be deprived of the means of access thereto, provided, however, that Landlord may in Landlord's notice of termination elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective Lease Term hereof retroactively as of the date possession is required to be surrendered to said authorityon which such taking, appropriation or condemnation became legally effective. In the event any access points to adjoining streets, 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 is sold in lieu of or to prevent such taking, and such taking shall substantially interfere with Tenant’s use of the Premises, then Landlord or Tenant shall each have the right to terminate termination this Lease effective and the Lease Term hereof shall expire as of the such effective termination date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion apportioned as of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationsuch date.

Appears in 1 contract

Samples: Biosphere Medical Inc

Condemnation/Eminent Domain. In the event that the premises or any part thereof, or the whole or any part of the Premises, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation thereof, Building shall be taken or appropriated by eminent domain or shall be condemned for any public or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainuse, or is sold (by virtue of any such taking appropriation or condemnation) shall suffer any damage (direct or indirect or consequential) for which Landlord or Tenant shall be entitled to compensation, then (and in lieu any such event) this Lease and the term hereof may be terminated at the election of or Landlord by a notice in writing of its election so to prevent terminate which shall be given by Landlord to Tenant within sixty (60) days foregoing the date on which Landlord shall have received notice of such taking, appropriation or condemnation. In the event that a substantial part of the premises or of the means of access thereto shall be so appropriated or condemned, then (and in any such event) this Lease and the term hereof may be terminated at the election of Tenant by a notice in writing of its election so to terminate which shall be given by Tenant to Landlord and within sixty (60) days following the date on which Tenant shall each have received notice of such taking appropriation or condemnation. Upon the right giving of any such notice of termination (either by Landlord or Tenant) this Lease and the term hereof shall terminate on or retroactively as of the date on which Tenant shall be required to vacate any part of the premises or shall be deprived of a substantial part of the means of access thereto, provided, however, that Landlord may in Landlord's notice elect to terminate this Lease (by written notice to and the other given no later than 10 days after Landlord notifies Tenant of such taking) effective term hereof retroactively as of the date possession is required to be surrendered to said authoritydare on which such taking appropriation or condemnation became legally effective. In the event of any such termination, this Lease and the term hereof shall expire as of such effective termination date as though that were the Termination Date as stated in Exhibit 1, and the Yearly Rent, additional rent and all other charges due hereunder shall be apportioned as of such date. If neither party (having the right so to do) elects to terminate Landlord will, with reasonable diligence and at Landlord's expense, restore the remainder of the premises, the Building and the remainder of the means of access, as nearly as practicably may be to the same condition as obtained prior to such taking appropriation or condemnation in which event (i) the Total Rentable Area shall be adjusted as in Exhibit 5 provided, (ii) a just proportion of the Yearly Rent, according to the nature and extent of the taking, appropriation or condemnation and the resulting permanent injury to the premises and the means of access points to adjoining streetsthereto, shall be taken permanently abated, and (iii) a just proportion of the remainder of the Yearly Rent, additional rent and all other charges due hereunder according to the nature and extent of the taking appropriation or condemnation and the resultant injury sustained by the premises and the means of access thereto, shall be abated until what remains of the premises and the means of access thereto shall have been restored as fully as may be for permanent use and occupation by Tenant hereunder. Except for any public award specifically reimbursing Tenant for moving or quasi-public purpose relocation expenses, there are expressly reserved to Landlord all rights to compensation and damages created, accrued or accruing by reason of any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold in lieu of or to prevent such taking, appropriation or condemnation, in implementation and such taking shall substantially interfere with Tenant’s use in confirmation of the Premises, then Landlord or which Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord or the taking authority for any compensation because of such taking, and does hereby acknowledge that Landlord shall be entitled to receive the entire amount all such compensation and damages, grant to Landlord all and whatever rights (if any) Tenant may have to such compensation and damages, and agree to execute and deliver all and whatever further instruments of any award without deduction for any estate or interest of Tenant in the Premises. Nothing contained in this Article 12 shall be deemed assignment as Landlord may from time to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expensestime request. In the event of any taking of the amount premises or any part thereof for temporary (i.e., not in excess of property or the type of estate taken one (1) year) use, (i) this Lease shall not substantially interfere with the conduct of Tenant’s businessbe and remain unaffected thereby, Landlord and (ii) Tenant shall be entitled to receive for itself any award made to the entire amount extent allocable to the premises in respect of the award without deduction for any estate or interest of Tenantsuch taking, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said such use, provided, that if any taking is for a period extending beyond the term of this Lease, such award shall be apportioned between Landlord and restorationTenant as of the Termination Date or earlier termination of this Lease.

Appears in 1 contract

Samples: Edocs Inc

Condemnation/Eminent Domain. In If the event land and premises leased ---------------------------- herein, or of which the whole of the Premisesleased premises are a part, and/or such part thereof as shall substantially interfere with Tenant’s use and occupation or any portion thereof, shall be taken for any public under eminent domain or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainproceedings, or is sold if suit or other action shall be instituted for the taking or condemnation thereof, or if in lieu of any formal condemnation proceedings or actions, the Landlord shall grant an option to prevent such takingpurchase and or shall sell and convey the said premises or any portion thereof, then this lease, at the option of the Landlord, shall terminate, and the term hereof shall end as of such date as the Landlord shall fix by notice in writing; and the Tenant shall each have the no claim or right to terminate this Lease (by written notice claim and be entitled to the other given no later than 10 days after Landlord notifies Tenant any portion or any amount which may be awarded as damages or paid as a result of such taking) effective condemnation proceedings or paid as the purchase price of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streetssuch option, shall be taken for any public sale or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold conveyance in lieu of formal condemnation proceedings; and all rights of the Tenant to damages, if any, are hereby assigned to the Landlord. The Tenant agrees to execute and deliver any instruments, at the expense of the Landlord, as may be deemed necessary or required to expedite any condemnation proceedings or to prevent effectuate a proper transfer of title to such takinggovernmental or other public authority, agency, body or public utility seeking to take or acquire the said lands and premises or any portion thereof. The Tenant covenants and agrees to vacate the said premises, remove all the Tenant's personal property therefrom and deliver up peaceable possession thereof to the Landlord or to such taking other party designated by the Landlord in the aforementioned notice. Failure by the Tenant to comply with any provisions in this clause shall substantially interfere with Tenant’s use subject the Tenant to such costs, expenses, damages and losses as the Landlord may incur by reason of the Premises, then Landlord or Tenant shall each have the right to terminate this Lease effective as of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for Tenant’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restoration's breach hereof.

Appears in 1 contract

Samples: Lease Agreement (Life Medical Sciences Inc)

Condemnation/Eminent Domain. In the event the whole If any portion of the Premises, and/or such premises of which the agreed premises are a part thereof as shall substantially interfere with Tenant’s use and occupation thereof, shall be taken for any public under eminent domain or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domainproceedings, or is sold if suit or other action shall be instituted for the taking or condemnation thereof, or if in lieu of any formal condemnation proceedings or actions, the Owner shall grant an option to prevent such takingpurchase and or shall sell and convey the said premises or any portion thereof, to the governmental or other public authority, agency, body or public utility, seeking to take said land and premises or any portion thereof, then Landlord this Agreement, at the option of the Owner, shall terminate, and Tenant the term hereof shall each end as of such date as the Owner shall fix by notice in writing. The Resident shall have the no claim or right to terminate this Lease (by written notice claim or be entitled to any portion of any amount that may be awarded as damages or paid as the other given no later than 10 days after Landlord notifies Tenant result of such taking) effective condemnation proceedings or paid as of the date possession is required to be surrendered to said authority. In the event any access points to adjoining streetspurchase price for such option, shall be taken for any public sale or quasi-public purpose by any lawful power or authority by exercise of the right of appropriation, condemnation or eminent domain, or is sold conveyance in lieu of formal condemnation proceedings. All rights of the Resident t to damages, if any, are hereby assigned to the Owner. The Resident agrees to execute and deliver any instruments, at the expense of the Owner, as may be deemed necessary to expedite any condemnation proceedings or to prevent effectuate a proper transfer of title to such takinggovernmental or other public authority, agency, body or public utility seeking to take or acquire the said lands and such taking shall substantially interfere with Tenant’s use premises of any portion thereof. The Resident agrees to vacate the said premises, remove all of the PremisesResident’s personal property therefrom and deliver up peaceable possession thereof to the Owner or to such other party designated by the Owner. The Resident shall repay the Owner for such costs, then Landlord or Tenant shall each have expenses, damages and losses as the right to terminate this Lease effective as Owner may incur by reason of the date possession is required to be surrendered to said authority. Except as provided below, Tenant shall not assert any claim against Landlord 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 Premises. Nothing contained in this Article 12 shall be deemed to give Landlord any interest in any separate award made to Tenant for the taking of personal property and fixtures belonging to Tenant or for TenantResident’s moving expenses. In the event the amount of property or the type of estate taken shall not substantially interfere with the conduct of Tenant’s business, Landlord shall be entitled to the entire amount of the award without deduction for any estate or interest of Tenant, Landlord shall promptly proceed to restore the Building to substantially their same condition prior to such partial taking less the portion thereof lost in such condemnation (but in no event shall Landlord be obligated to incur costs in such restoration in excess of the amount of the award paid to Landlord, after deducting Landlord’s reasonable costs in connection therewith), and the Base Rent shall be proportionately reduced by the time during which, and the portion of the Premises which, Tenant shall have been deprived of possession on account of said taking and restorationbreach hereof.

Appears in 1 contract

Samples: Rectory Use Agreement

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