Taking Date definition

Taking Date means, with respect to any Taking, the date on which physical possession of the portion of the Premises that is the subject of such Taking is transferred to the condemning authority.

Taking Date means the date on which the condemning authority shall have the right to possession of the Premises or the Building and Lot or any portion thereof, as the case may be.

Taking Date means the first date on which the condemning authority has the right to possession of the Land or Improvements which have been Taken.

Examples of Taking Date 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 occurs during the Term of this Agreement that, in the reasonable commercial judgment of Landlord, makes the use of the Premises for a parking facility no longer possible (a “Substantial Taking”), Landlord may, at its option, terminate this Agreement as of the date physical possession of any of the Premises subject to such Taking is transferred to the condemning authority (the “Taking Date”) by giving notice to Tenant within thirty (30) days following the Taking Date.

• 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 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.

• If a Substantial Taking occurs during the Term, Lessee may, at its option, terminate this Lease by giving notice to Lessor on or before 60 days after the Taking Date.

More Definitions of Taking Date

Taking Date means the later of (i) the date on which the condemning authority takes actual physical possession of the Leased Premises or any portion thereof, as the case may be, or (ii) the date on which the right to compensation and damages accrues under the law applicable to the Leased Premises.

Taking Date. With respect to any Taking, the date on which the condemning authority or purchaser under threat shall have the right to possession of the Demised Premises, the Building or the Land or any portion thereof.

Taking Date means the date on which the condemning authority takes actual physical possession of the Property, the Improvements or any portion thereof, as the case may be.

Taking Date means the earlier of the date that title to the property taken is vested in the Condemning Authority or the date the Condemning Authority has the right to possession of the property being condemned.

Taking Date is defined in Section 10.2 of the Standard Lease Provisions.

Taking Date means the date of the vesting of title to all or part of the Premises in a condemning authority, or the date upon which construction commences to effectuate a change of grade of any street abutting the Premises.

Taking Date shall have the meaning set forth in Section 14.1 hereof.