Common use of TOTAL OR PARTIAL TAKING Clause in Contracts

TOTAL OR PARTIAL TAKING. If the whole of the Premises, or such portion thereof as will make the Premises unusable for the purposes leased hereunder, shall be taken by any public authority under the power of eminent domain or sold to a public authority under threat or in lieu of such taking, the Term shall cease as of the day possession or title shall be taken by such public authority, whichever is earlier ("Taking Date"), whereupon the rent and all other charges shall be paid up to the Taking Date with a proportionate refund by Landlord of any rent and all other charges paid for a period subsequent to the Taking Date. If less than the whole of the Premises, or less than such portion thereof as will make the Premises unusable for the purposes leased hereunder, the Term shall cease only as to the part so taken as of the Taking Date, and Tenant shall pay rent and other charges up to the Taking Date, with appropriate credit by Landlord (toward the next installment of rent due from Tenant) of any rent or charges paid for a period subsequent to the Taking Date. Minimum Rent, Operating Costs and other charges payable to Landlord shall be reduced in proportion to the amount of the Premises taken.

Appears in 2 contracts

Samples: Office Lease (Interactive Technologies Com LTD), Office Lease (Interactive Technologies Com LTD)

AutoNDA by SimpleDocs

TOTAL OR PARTIAL TAKING. If the whole of the Premises, any of the loading doors at the Premises or any material part of the parking area for the Premises or access to the Premises (provided that if 20% or more of the Premises or 40% or more of the parking area are taken, Tenant may deem that all of the Premises are taken), or such portion thereof as will make the Premises unusable unusable, in Tenant’s commercially reasonable judgment, for the purposes leased hereunder, shall be taken by any public authority under the power of eminent domain or sold to a public authority under threat or in lieu of such taking, the Term shall cease as of the day possession or title shall be taken by such public authority, whichever is earlier ("Taking Date"), whereupon the rent Rent and all other charges shall be paid up to the Taking Date with a proportionate refund by Landlord of any rent Rent and all other charges paid for a period subsequent to the Taking Date. If less than the whole of the Premises, or less than such portion thereof as will make the Premises unusable for the purposes leased hereunderunusable, the Term shall cease only as to the part so taken in Tenant’s commercially reasonable judgment, as of the Taking Date, and Tenant shall pay rent and other charges up to the Taking Dateis taken, with appropriate credit by Landlord (toward the next installment of rent due from Tenant) of any rent or charges paid for a period subsequent to the Taking Date. Minimum Rent, Operating Costs Base Rent and other charges payable to Landlord shall be reduced in proportion to the amount of the Premises taken. If this Lease is not terminated, Landlord shall repair any damage to the Premises caused by the taking to the extent necessary to make the Premises reasonably tenantable within the limitations of the available compensation awarded for the taking (exclusive of any amount awarded for land).

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement (Pricesmart Inc)

TOTAL OR PARTIAL TAKING. If the whole of the PremisesPremises (provided that if 60% or more of the Premises are taken, Tenant may deem that all of the Premises are taken), or such portion thereof as will make the Premises unusable unusable, in Landlord's or Tenant's reasonable, good faith judgment, for the purposes leased hereunder, shall be taken by any public authority under the power of eminent domain or sold to a public authority under threat or in lieu of such taking, the Term shall cease as of the day possession or title shall be taken by such public authority, whichever is earlier ("Taking DateTAKING DATE"), whereupon the rent Rent and all other charges shall be paid up to the Taking Date with a proportionate refund by Landlord of any rent Rent and all other charges paid for a period subsequent to the Taking Date. If less than the whole of the PremisesPremises (or if 60% or more of the Premises is taken and Tenant does not deem that all of the Premises are taken), or less than such portion thereof as will make the Premises unusable for the purposes leased hereunder, the Term shall cease only as to the part so taken as of the Taking Date, and Tenant shall pay rent and other charges up to the Taking Dateis taken, with appropriate credit by Landlord (toward the next installment of rent due from Tenant) of any rent or charges paid for a period subsequent to the Taking Date. Minimum Rent, Operating Costs Base Rent and other charges payable to Landlord shall be equitably reduced in proportion to the amount of the Premises taken. If this Lease is not terminated, Landlord shall, within a commercially reasonable period of time, repair any damage to the Premises caused by the taking to the extent necessary to make the Premises reasonably tenantable within the limitations of the available compensation awarded for the taking (exclusive of any amount awarded for land).

Appears in 1 contract

Samples: Lease Agreement (Aerobic Creations, Inc.)

TOTAL OR PARTIAL TAKING. If the whole of the Premises, or such portion thereof as will make the Demised Premises unusable for the purposes leased hereunder, shall be taken by any public or quasi-public authority under the power of condemnation, eminent domain or sold to a public authority under threat expropriation, or in the event of conveyance of the whole of the Demised Premises in lieu of such takingthereof, the Term this Lease shall cease terminate as of the day possession or title shall be taken by such public authority, whichever is earlier ("Taking Date"), whereupon . If 25% or less of the rent and all other charges Floor Space of the Demised Premises shall be paid up to the Taking Date with a proportionate refund by Landlord so taken or conveyed, this Lease shall terminate only in respect of any rent and all other charges paid for a period subsequent to the Taking Date. If less than the whole of the Premises, or less than such portion thereof as will make the Premises unusable for the purposes leased hereunder, the Term shall cease only as to the part so taken or conveyed as of the Taking Dateday possession shall be taken by such authority. If more than 25% of the Floor Space of the Demised Premises shall be so taken or conveyed, and this Lease shall terminate only in respect of the part so taken or conveyed as of the day possession shall be taken by such authority, but either party shall have the right to terminate this Lease upon notice given to the other party within 30 days after such taking of possession. If following such taking or conveyance in lieu thereof, fewer than 3,100 square feet of Floor Space remain in the Demised Premises, Tenant shall pay rent have the right to terminate this Lease upon notice to Landlord within thirty (30) days after receipt by Tenant of notice of such taking. If this Lease shall continue in effect as to any portion of the Demised Premises not so taken or conveyed, the Fixed Rent and other charges up to Additional Rent shall be computed as of the Taking Datedate when possession shall have been taken on the basis of the remaining Floor Space of the Demised Premises. Except as specifically provided herein, with appropriate credit by Landlord (toward in the next installment of rent due from Tenant) event of any rent such taking or charges paid for a period subsequent to the Taking Date. Minimum Rent, Operating Costs and other charges payable to Landlord conveyance there shall be reduced in proportion to the amount of the Premises taken.no reduction in

Appears in 1 contract

Samples: Dm Management Co /De/

TOTAL OR PARTIAL TAKING. If the whole of the Premises, or such portion thereof as will make the Premises unusable for the purposes leased hereunder, shall be taken by any public authority under the power of eminent domain or sold to a public authority under threat or in lieu of such taking, the Term shall cease as of the day possession or title shall be taken by such public authority, whichever is earlier ("Taking Date"), whereupon the rent and all other charges shall be paid up to the Taking Date with a proportionate refund by Landlord of any rent and all other charges paid for a period subsequent to the Taking Date. If less than the whole of the Premises, or less than such portion thereof as will make the Premises unusable for the purposes leased hereunder, the Term shall cease only as to the part so taken as of the Taking Date, and Tenant shall pay rent and other charges up to the Taking Date, with appropriate credit by Landlord (toward the next installment of rent due from Tenant) of any rent or charges paid for a period subsequent to the Taking Date. Minimum Rent, Operating Costs Rent and other charges payable to Landlord shall be reduced in proportion to the amount of the Premises taken.

Appears in 1 contract

Samples: Lease (Intellicell Corp)

AutoNDA by SimpleDocs

TOTAL OR PARTIAL TAKING. If the whole of the Premises, or such portion thereof as will make the Premises unusable for the purposes leased hereunder, shall be taken by any public authority under the power of eminent domain or sold to a public authority under threat or in lieu of such taking, the Term shall cease as of the day possession or title shall be taken by such public authority, whichever is earlier ("Taking Date"), whereupon the rent and all other charges shall be paid up to the Taking Date with a proportionate refund by Landlord of any rent and all other charges paid for a period subsequent to the Taking Date. If less than the whole of the Premises, or less than such portion thereof as will make the Premises unusable for the purposes leased hereunderhereunder in Tenant's reasonable opinion, the Term shall cease only as to the part so taken as of the Taking Date, and Tenant shall pay rent and other charges up to the Taking Date, with appropriate credit by Landlord (toward the next installment of rent due from Tenant) of any rent or charges paid for a period subsequent to the Taking Date. Minimum Rent, Operating Costs Rent and other charges payable to Landlord shall be reduced in proportion to the amount of the Premises taken.

Appears in 1 contract

Samples: Office Lease (Championship Auto Racing Teams Inc)

TOTAL OR PARTIAL TAKING. If (i) the whole of the Premises, Premises or such portion thereof as will which would materially and adversely affect the continued operations of Tenant at the Premises; or (ii) any material portion of the parking area (including, without limitation, any material portion of a parking structure or facility) on the Property (provided Landlord does not make the Premises unusable reasonable alternate parking arrangements for the purposes leased hereunderTenant in lieu thereof), in Landlord’s and/or Tenant’s reasonable business judgment, shall be taken by any public authority under the power of eminent domain or sold to a public authority under threat or in lieu of such taking, then either party may terminate this Lease and the Term shall cease as of the day possession or title shall be taken by such public authority, whichever is earlier ("Taking Date"), whereupon the rent and all other charges Rent shall be paid up to the Taking Date with a proportionate refund by Landlord of any rent and all other charges Rent paid for a any period subsequent to the Taking Date. If less than the whole of the Premises, or less than such portion thereof as will make the Premises unusable for the purposes leased hereunder, the Term shall cease only as to the part so taken as of the Taking DateDate (as set forth in subsections (i) and (ii) above), and Tenant shall pay rent and other charges up to the Taking Dateis taken, with appropriate credit by Landlord (toward the next installment of rent due from Tenant) of any rent or charges paid for a period subsequent to the Taking Date. Minimum Rent, Operating Costs Base Rent and other charges payable to Landlord shall be reduced (x) in proportion to the amount of the Premises taken, if square footage of a Building is taken, or (y) in the proportion that the fair market value of the Premises taken bears to the total fair market value of the Premises prior to the Taking, as equitably determined by Landlord. If this Lease is not terminated, Landlord shall repair any damage to the Premises caused by the taking to the extent necessary to make the Premises reasonably tenantable within the limitations of the available compensation awarded for the taking (exclusive of any amount awarded for land) to the extent of Landlord’s obligations under the Construction Addendum.

Appears in 1 contract

Samples: Lease Agreement (Office Depot Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.