Condemnation Clause Example with 5 Variations from Business Contracts
This page contains Condemnation clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "Condemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If more than 10% of the rentable floor area of the Premises, or more than 25% of Lessee's Reserved Parking Spaces, if any, are taken by Condemnation, Lessee may, at Lessee's option, to be exer...cised in writing within 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within 10 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation.View More
Variations of a "Condemnation" Clause from Business Contracts
Condemnation. If all or part of the Premises or any portion thereof are taken under the power of eminent domain domain, or sold under the threat of the exercise of said power (collectively "Condemnation"), power, this Lease shall terminate as to the part so taken as of the date the condemning authority takes title or possession, whichever first occurs. possession. If more than 10% 25% of the rentable floor area of the Premises, or more than 25% of Lessee's Reserved Parking Spaces, if any, are improvements on ...the Premises is taken by Condemnation, Lessee may, at Lessee's option, to be exercised in writing condemnation, Tenant may by a written notice within 10 ten ( I 0) days after Lessor shall have given Lessee written notice of such taking (or in the absence of absent such notice, within 10 ten (10) days after the condemning authority shall have taken takes possession) terminate tenninate this Lease as of the date the condemning authority takes such possession. If Lessee Tenant does not terminate this Lease in accordance with the foregoing, so terminate, this Lease shall remain in full force and effect as to the portion of the Premises remaining, remaining except that the Base Rent rent shall be reduced in the proportion that the floor area taken bears to the reduction in utility original total floor area; provided that if circumstances make abatement based on floor area unreasonable, the rent shall abate by a reasonable amount to be determined by Landlord. Any award for the taking of all or part of the Premises caused by under the power of eminent domain, including payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power. shall be the property of Lessor, Landlord, whether such award shall be made as compensation for diminution in of value of the leasehold, leasehold or for the value taking of the part taken, fee or for as severance damages; provided, however, provided that Lessee Tenant shall be entitled to any compensation paid by the condemnor award for Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation. Tenant's trade fixtures and removable personal property. View More
Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "Condemnation"), (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, possession whichever first occurs. If more than 10% ten percent (10%) of the rentable floor area of the Premises, Premises or more than 25% twenty-five percent (25%...) of Lessee's Reserved Parking Spaces, if any, are the portion of the Common Areas designated for Tenant's parking is taken by Condemnation, Lessee condemnation, Tenant may, at Lessee's Tenant's option, to be exercised in writing within 10 ten (10) days after Lessor Landlord shall have given Lessee Tenant written notice of such taking (or in the absence of such notice, within 10 ten (10) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee Tenant does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in the same proportion to as the reduction in utility rentable floor area of the Premises caused by taken bears to the total rentable floor area of the Premises. No reduction of Base Rent shall occur if the condemnation does not apply to any portion of the Premises. Any award for the taking of all or any part of the Premises under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, Landlord, whether such award shall be made as compensation for diminution in of value of the leasehold, leasehold or for the value taking of the part taken, fee, or for as severance damages; provided, however, that Lessee Tenant shall be entitled to any compensation paid by the condemnor compensation, separately awarded to Tenant for Lessee's Tenant's relocation expenses, expenses and/or loss of business goodwill and/or Tenant's Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation. Fixtures. View More
Condemnation. If less than twenty percent (20%) of the gross rentable floor area of the Premises or any portion thereof are is taken under the power of eminent domain domain, or sold under the threat of the exercise of said power (collectively "Condemnation"), (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 occurs first, and in addition, Lessor shall have the option in such event to... terminate this Lease in full by providing Lessee with written notice thereof within ten (10) days following the date when the condemning authority takes title or possession, whichever first occurs. If twenty percent (20%) or more than 10% of the rentable floor area of the Premises, or more than 25% of Lessee's Reserved Parking Spaces, if any, are Premises is taken by Condemnation, condemnation, either Lessor or Lessee may, at Lessee's option, to be exercised in writing within 10 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within 10 days after the condemning authority shall have taken possession) may terminate this Lease as of by providing the other with written notice thereof within ten (10) days following the date when the condemning authority takes such possession. title or possession, whichever first occurs. If neither Lessor or Lessee does not elects to terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent rent shall be reduced in the proportion that the gross rentable floor area taken bears to the reduction in utility total gross rentable floor area of the original Premises. Any award for the taking of all or any part of the Premises caused by under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, leasehold or for the value taking of the part taken, fee, or for as severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor award for loss or damage to Lessee's relocation expenses, loss of business goodwill and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations trade fixtures and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. removable property. In the event that this Lease is not terminated by reason of such condemnation, Lessor shall, to the Condemnation, extent of severance damages actually received by Lessor shall in connection with such condemnation, repair any damage to the Premises caused by such Condemnation. condemnation except to the extent that Lessee has been reimbursed therefor by the condemning authority. Lessee shall pay any amount in excess of such severance damages required to complete such repair. View More
Condemnation. If the Premises or any portion thereof are permanently taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "Condemnation"), (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. If more than 10% ten 21 Initial ______ Initial ______ percent (10%) of the rentable floor area of the Premises, or more than 25%... twenty five percent (25%) of the portion of the Premises designated for Lessee's Reserved Parking Spaces, if any, are parking, is taken by Condemnation, condemnation, Lessee may, at Lessee's option, to be exercised in writing within 10 twenty (20) days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within 10 twenty (20) days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in the same proportion to as the reduction in utility rentable floor area of the Premises caused by taken bears to the total rentable floor area of the Premises. No reduction of Base Rent shall occur if the condemnation does not apply to any portion of the Premises. Any award for the taking of all or any part of the Premises under the power of eminent domain or any payment made under threat of the exercise of such Condemnation. Condemnation awards and/or payments power shall be the property of Lessor, whether such award shall be made as compensation for diminution in of value of the leasehold, leasehold or for the value taking of the part taken, fee, or for as severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor compensation, awarded to Lessee for Lessee's relocation expenses, expenses and/or loss of business goodwill and/or Lessee's Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. Fixtures. In the event that this Lease is not terminated by reason of the Condemnation, such condemnation, Lessor shall to the extent of its net severance damages received, over and above the legal and other expenses incurred by Lessor in the condemnation matter, repair any damage to the Premises caused by such Condemnation. condemnation authority. Lessee shall be responsible for the payment of any amount in excess of such net severance damages required to complete such repair. View More
Condemnation. If the Premises or any portion thereof are taken under the power of eminent domain or sold under the threat of the exercise of said power (collectively "Condemnation"), this Lease shall terminate as to the part taken as of the date the condemning authority takes title or possession, whichever first occurs. If (a) more than 10% of the rentable floor area of the Premises, Unit, or more than 25% of the parking spaces is taken by Condemnation, (b) in Lessee's Reserved Parking Spaces, if any, judgmen...t, Lessee's use has been materially impaired by any condemnation; provided that Lessee does not thereafter occupy or use the Premises, or (c) 30% or more of Lessee's parking spaces are taken by Condemnation, condemnation, Lessee may, at Lessee's option, to be exercised in writing within 10 30 days after Lessor shall have given Lessee written notice of such taking (or in the absence of such notice, within 10 1030 days after the condemning authority shall have taken possession) terminate this Lease as of the date the condemning authority takes such possession. possession; provided, however, if Lessor is able to provide reasonable alternative parking within 30 days of receipt of Lessee's termination notice with respect to a termination under subsection (c) hereinabove, Lessee shall have no right to terminate this Lease pursuant to such subsection (c), and this Lease shall continue in full force and effect, unless otherwise terminated by Lessee in accordance with the terms of this Paragraph 14. If Lessee does not terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the Base Rent shall be reduced in proportion to the reduction in utility of the Premises caused by such Condemnation. Condemnation awards and/or payments shall be the property of Lessor, whether such award shall be made as compensation for diminution in value of the leasehold, the value of the part taken, or for severance damages; provided, however, that Lessee shall be entitled to any compensation paid by the condemnor for Lessee's relocation expenses, loss of business goodwill goodwill, and/or Trade Fixtures, without regard to whether or not this Lease is terminated pursuant to the provisions of this Paragraph. All Alterations and Utility Installations made to the Premises by Lessee, for purposes of Condemnation only, shall be considered the property of the Lessee and Lessee shall be entitled to any and all compensation which is payable therefor. In the event that this Lease is not terminated by reason of the Condemnation, Lessor shall repair any damage to the Premises caused by such Condemnation. View More
