Condemnation Clause Example with 4 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. A If the whole or any substantial part of the premises should be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof and the taking would prevent or materially interfere with the use of the premises for the purpose for which they are then being used, this lease shall terminate and the rent shall be abated during the unexpired portion of this lease, effective when the physical taking of sai...d premises shall occur. B. If part of the premises shall be taken for any public or quasi-public use under any governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof, and this lease is not terminated as provided in the subparagraph above, this lease shall not terminate but the rent payable hereunder during the unexpired portion of this lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances and Landlord shall undertake to restore the premises to a condition suitable for Tenant’s use, as near to the condition thereof immediately prior to such taking as is reasonably feasible under all the circumstances. C. In the event of any such taking or private purchase in lieu thereof, Landlord and Tenant shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings; provided that Tenant shall not be entitled to receive any award for Tenant’s loss of its leasehold interest, the right to such award being hereby assigned by Tenant to Landlord.View More
Variations of a "Condemnation" Clause from Business Contracts
Condemnation. A (a) If the whole or any substantial part of the premises Premises should be taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof and the taking would prevent or materially interfere with the use of the premises for the purpose for which they are then being used, thereof, this lease Lease shall terminate and the rent shall be abated during the unexpired portion of this lease, Lease, effect...ive when the physical taking of said premises Premises shall occur. B. 5 (b) If less than a substantial part of the premises Premises shall be taken for any public or quasi-public use under any governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof, and this lease is not terminated as provided in the subparagraph above, this lease Lease shall not terminate terminate, but the rent payable hereunder during the unexpired portion of this lease Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances and Landlord shall undertake to restore the premises to a condition suitable for Tenant’s use, as near to the condition thereof immediately prior to such taking as is reasonably feasible under all the circumstances. C. (c) In the event of any such taking or private purchase in lieu thereof, Landlord and Tenant shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings; provided that Tenant shall not be entitled to receive any award for Tenant’s loss of its leasehold interest, the right to such award being hereby assigned by Tenant to Landlord. proceedings. View More
Condemnation. A A. If 80% or more of the gross square footage of the building in which the Premises are located should be taken for public or quasi-public use under governmental law, ordinance or regulation by right of eminent domain, or by private purchase in lieu thereof, Landlord shall have the right to terminate this Lease and the rent shall be abated effective on the date of Landlord’s election to so terminate. Additionally, if the whole or any substantial part of the premises Premises should be taken fo...r any public or quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof and the taking would prevent or materially interfere with the use of the premises Premises for the purpose for which they that are then being used, this lease Lease shall terminate and the rent shall be abated during the unexpired portion of this lease, Lease, effective when on the date of the physical taking of said premises shall occur. the Premises. B. If part of the premises Premises shall be taken for any public or quasi-public use under any governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof, and this lease Lease is not terminated as provided in the subparagraph above, 18A., this lease Lease shall not terminate but the rent payable hereunder during the unexpired portion of this lease Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances and Landlord shall undertake to restore the premises to a condition suitable for Tenant’s use, as near to the condition thereof immediately prior to such taking as is reasonably feasible under all the circumstances. C. In the event of any such taking or private purchase in lieu thereof, Landlord and Tenant shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings; provided that Tenant shall not be entitled to receive any award for Tenant’s loss of its leasehold interest, the right to such award being hereby assigned by Tenant to Landlord. proceedings. View More
Condemnation. A If A.If 80% or more of the gross square footage of the Building should be taken for public or quasi-public use under governmental law, ordinance or regulation by right of eminent domain, or by private purchase in lieu thereof, Landlord or Tenant shall have the right to terminate this Lease by providing written notice to the other not more than sixty (60) days after the taking and the rent shall be abated effective on the effective date of such termination. Additionally, if the whole or any sub...stantial part of the premises Premises should be taken for any public or quasi-public quasi- public use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof and the taking would prevent or materially interfere with the use of the premises Premises for the purpose for which they that are then being used, used in the reasonable discretion of Tenant and Landlord acting in good faith, this lease Lease shall terminate and the rent shall be abated during the unexpired portion of this lease, Lease, effective when on the date of the physical taking of said premises shall occur. B. If the Premises. B.If part of the premises Premises shall be taken for any public or quasi-public use under any governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof, and this lease Lease is not terminated as provided in the subparagraph above, Paragraph 18.A., this lease Lease shall not terminate but the rent payable hereunder during the unexpired portion of this lease Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances (including a reduction of Base Rent) and following receipt of the condemnation award Landlord shall undertake to restore the premises Premises to a condition suitable for Tenant’s use, as near as reasonably possible to the condition thereof immediately prior to such the taking as is reasonably feasible under (subject to the amount of the award). C.As between the parties, upon the occurrence of a taking of the Premises, all of the circumstances. C. In damages, award or compensation for the event of any such taking or private purchase in lieu thereof, Landlord and Premises shall belong to Landlord. Tenant shall each be entitled have the right to receive claim and retain recover from the taking authority such separate awards and/or portion of lump sum awards compensation as may be allocated to their respective interests awarded or recoverable by Tenant in Tenant’s own right for or on account of damages to, or of cost or expense which Tenant would incur in removing any condemnation proceedings; of Tenant’s property, as compensation for any of Tenant’s property which is taken, the cost of relocation of Tenant’s business, and the value of this Lease provided that Tenant in no event shall not be entitled to receive any Tenant’s award for Tenant’s loss of its leasehold interest, the right to such award being hereby assigned by Tenant to Landlord. diminish, reduce, decrease or otherwise affect Landlord’s award. View More
Condemnation. A (a) Total Taking. If the whole or any substantial part of the premises should be Building is taken for any public or quasi-public use under governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof and the taking would prevent or materially interfere with the use of the premises Premises or the Building for the purpose for of which they are then being used, this lease Lease shall terminate and the rent Base Rent and Operating Costs shall b...e abated during the unexpired portion of this lease, Lease effective when the physical taking of said premises the Property shall occur. B. (b) Partial Taking. If part of the premises Premises shall be taken for any public or quasi-public use under any governmental law, ordinance or regulation, or by right of eminent domain, or by private purchase in lieu thereof, and this lease Lease is not terminated as provided in the subparagraph above, this lease Lease shall not terminate but the rent Base Rent and Operating Costs payable hereunder during the unexpired portion of this lease Lease shall be reduced to such extent as may be fair and reasonable under all of the circumstances and Landlord shall undertake to restore the premises to a condition suitable for Tenant’s use, as near to the condition thereof immediately prior to such taking as is reasonably feasible under all the circumstances. C. (c) Awards. In the event of any such taking or private purchase in lieu thereof, Landlord and Tenant shall each be entitled to receive and retain such separate awards and/or portion of lump sum awards as may be allocated to their respective interests in any condemnation proceedings; proceedings, provided that Tenant shall not be entitled to receive any award for Tenant’s loss of its leasehold interest, interest or other property which would have become the property of Landlord upon termination of this Lease; the right to such award being hereby assigned to Landlord. 10 16. Holding Over. Tenant will, at the termination of this Lease by lapse of time or otherwise, yield up immediate possession to Landlord. If Tenant retains possession of the Premises or any part thereof after such termination, then, subject to the last sentence of this Paragraph, such holding over shall constitute creation of a month to month tenancy, upon the terms and conditions of this Lease; provided, however, that the monthly rental for such holding over shall, in addition to all other sums which are to be paid by Tenant hereunder, whether or not as Additional Rent, be equal to Landlord. one-hundred fifty percent (150%) of the Rent being paid monthly to Landlord under this Lease immediately prior to such termination. In addition to and not in limitation of the foregoing, Tenant shall also pay to Landlord all damages sustained by Landlord resulting from retention of possession by Tenant, including the loss of any proposed subsequent tenant for any portion of the Premises. The provisions of this Paragraph shall not constitute a waiver by Landlord of any right of re-entry as herein set forth; nor shall receipt of any rent or other sums or any other act in apparent affirmance of the tenancy operate (a) as an extension of the Term; (b) a waiver of Landlord’s right to terminate Tenant’s right to possession of the Premises; or (c) a waiver of the right to terminate this Lease for a breach of any of the terms, covenants, or obligations herein on Tenant’s part to be performed. View More
