Examples of Substantial Taking in a sentence
If a Substantial Taking occurs but Lessee does not exercise its termination option this Lease will remain in full force and effect according to its terms, except that effective as of the Taking Date this Lease will terminate automatically as to the portion of the Premises that is the subject of such Taking and Base Rent after the Taking Date will be adjusted to reflect the reduced Land remaining after the Taking.
If a taking is a Substantial Taking, Tenant may, by notice to County given within ninety (90) days after Tenant receives a Notice of Intended Condemnation, elect to treat the taking as a Total Taking.
If a Taking occurs during the Term of this Agreement that is not a Substantial Taking, or if a Substantial Taking occurs but Landlord does not exercise its termination option according to Section 11.2 above and this Agreement shall remain in full force and effect according to its terms, except that, effective as of the Taking Date, this Agreement shall terminate automatically as to any of the Premises taken.
If there is a Taking (whether a Substantial Taking, Partial Taking or Temporary Taking), the parties hereto acknowledge that so long as the Leasehold Deed of Trust is in effect the proceeds of any Award shall be disbursed to the Leasehold Deed of Trust Beneficiaries to be applied as provided in the Leasehold Deed of Trust and related Documents.
If a Taking occurs during the Term that is not a Substantial Taking, then this Lease will remain in full force and effect according to its terms, except that effective as of the Taking Date this Lease will terminate automatically as to the portion of the Premises that is the subject of such Taking and Base Rent will be adjusted to reflect the reduced Land remaining after the Taking.