EMINENT DOMAIN/CONDEMNATION. 7.1 Lessor to notify Lessee 7.2 Whole taking, rents prorated 7.3 Taking
EMINENT DOMAIN/CONDEMNATION. 7.1 - The Lessor shall notify the Lessee within ten (10) days of the commencement of eminent domain/condemnation proceedings against the Leased premises described in paragraphs 2.1 and 2.2 by a public agency authorized by law to condemn property. The Lessor shall timely notify the Lessee of the Lessor's intent to contest eminent domain/condemnation proceedings. The Lessor shall notify the Lessee within ten (10) days of acquisition by eminent domain/condemnation of the Leased premises described in paragraphs 2.1 and 2.2 by a public agency.
EMINENT DOMAIN/CONDEMNATION. If during the term of this Lease or any extension or renewal thereof, all of the leased premises shall be taken for any public or quasi-public use under any law, ordinance, or regulation or by right of eminent domain, or should be sold to the condemning authority under threat of condemnation this Lease shall terminate and the rent shall be abated during the unexpired portion of this Lease, effective as of the date of the taking of said premises by the condemning authority. If less than all of the leased premises shall be taken for any public or quasi-public use under any law, ordinance, or regulation, or by right of eminent domain, or should be sold to the condemning authority under threat of condemnation, LANDLORD may, at its sole expense, restore and reconstruct the building and other improvements situated on the lease premises, provided the restoration and reconstruction shall make the same reasonably tenantable and suitable for the uses for which the premises are leased. The rent payable hereunder during the unexpired portion of this Lease shall be adjustable equitably. LANDLORD may at its option terminate this lease in lieu of restoring or reconstructing the condemned premises, in which case the rent shall be abated for the unexpired portion of this Lease, effective as of the date of the taking of said premises by the condemning authority. LANDLORD and TENANT shall each by entitled to receive and retain such separate awards and portions of lump-sum awards as may be allocated to their respective interests in a condemnation proceeding, if any. The termination of this Lease shall not affect the rights of the respective parties to such awards.
EMINENT DOMAIN/CONDEMNATION. If the whole or any substantial part of the Building taken or condemned by any competent authority for any public use or purpose, or if any adjacent property or street shall be so condemned or improved in such a manner as to require the use of any part of the Building, the term of this Lease shall, at the option of Landlord or the condemning authority, be terminated upon, and not before, the date when possession of the part so taken shall be required for such use or purpose, and Landlord shall be entitled to receive the entire award without apportionment with Tenant. Rent shall be apportioned as of the date of tenant's vacating as the result of said termination.
EMINENT DOMAIN/CONDEMNATION. In the event the whole or any part of the Demised Premises shall be taken under any power of eminent domain or condemnation; the Lessee hereby waives any claim to compensation for the Lessee’s loss of the fair market value of the Demised Premises.
EMINENT DOMAIN/CONDEMNATION. If the property or any part thereof wherein the demised premises are located shall be taken by public or quasi-public authority under any power of eminent domain or condemnation, this lease, at the option of the Landlord, shall forthwith terminate and the Tenant shall have no claim or interest in or to any award of damages for such taking. Notwithstanding the foregoing, Tenant shall have the right to make a separate claim for its expenses of relocating and for the value of its trade fixtures and equipment; provided, however, that such claims shall not reduce the Landlord’s award. Twenty-second - Security: Intentionally omitted. Twenty-third - Arbitration: Intentionally omitted.
EMINENT DOMAIN/CONDEMNATION. If, prior to Closing, the Property or any material part thereof is subject to an eminent domain or condemnation proceeding, Seller, immediately upon learning thereof, shall give written notice to Purchaser. Thereafter, Purchaser shall have a period of ten (10) days within which to elect, by written notice to Seller, to terminate the Agreement. In the event of such termination on or before Closing, all Xxxxxxx Money made pursuant to the Agreement shall be returned to Purchaser, and the Agreement shall become null and void. If no such election is timely made, Purchaser shall be deemed to have waived its rights under this paragraph, except that, if the transaction contemplated hereby closes, Purchaser shall be entitled to the proceeds or the right to negotiate, settle and collect the proceeds of such condemnation award, and Seller shall execute and deliver all documents reasonably requested of Seller in order to effectuate this section.
EMINENT DOMAIN/CONDEMNATION. If the property or any part thereof wherein the demised premises are located shall be taken by public or quasi-public authority under any power of eminent domain or condemnation, this Lease at the option of the Landlord shall forthwith terminate and the Tenant shall have no claim or interest in or to any award of damages for such taking. Notwithstanding the foregoing, Tenant shall have the right separately to pursue against the condemning authority an award in respect of the loss, if any, to leasehold improvements paid for by Tenant without any credit or allowance from Landlord and in respect to the loss of Tenant's leasehold interest.
EMINENT DOMAIN/CONDEMNATION. If all or any substantial part of the Building or Premises is taken or condemned by any competent authority for any public use or purpose, or if any adjacent property or street shall be condemned or improved in a manner that requires the use of any part of the Building, the Term of this Lease Agreement shall, at the option of Lessor, be terminated upon, and not before, the day when possession of the part taken shall be required for such use or purpose, and Lessor shall be entitled to receive the entire award without apportionment with Lessee.
EMINENT DOMAIN/CONDEMNATION. If the Premises or any part thereof are permanently taken or condemned, transferred, or taken through Eminent Domain or Condemnation proceedings, or by agreement in lieu of Eminent Domain or Condemnation, for any public or quasi-public use or purpose by any competent authority, and whether or not this Lease shall be terminated, the entire compensation award therefore shall belong to Landlord and upon such effective date, this Lease shall terminate by operation of law.
