Res 2007-183 - Laserfiche WebLink

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under this Lease with respect to the Leased Premises, except for those obligations which expressly survive the termination hereof. 10.4 Partial Taking. (a) If Iess than all of the Leased Premises shall be Taken in any Condemnation Proceeding, a fair and equitable portion of the Base Rent attributable to the portion of the Leased Premises Taken shall be abated from and after the date of such partial Taking, and from and after such date Lessee and Lessor shall not have any other obligations under this Lease with respect to the portion of the Leased Premises that has been Taken, except for those obligations which expressly survive the termination hereof. (b) If, following such Taking, the remaining Leased Premises are not sufficient to operate a conference center as intended by the Parties hereto, then Lessee, at its election, may terminate this Lease, whereupon the Base Rent shall be fatly abated from and after the date of such partial Taking, and from and after such date Lessee and Lessor shall not have any further obligations under this Lease with respect to the Leased Premises, except for those obligations which expressly survive the termination hereof. Such election to vacate must be exercised no later than ninety (90) days after the date of such Taking. (c) If Lessee does not elect, or does not have the right, to vacate the Leased Premises upon any partial taking, then (i) the Leased Premises shall be reduced by the portion thereof Taken, and the Base Rent payable hereunder shall be equitably reduced during the unexpired portion of the Term as provided above, and (ii) Lessor shall commence and proceed with reasonable diligence to repair or reconstruct the remaining Improvements on the Leased Premises, if any; provided, however, Lessor's obligation to so repair or reconstruct the remaining improvements shall be limited to the proceeds of the condemnation award actually received by Lessor. 10.5 Temporar~ng. If any right of temporary (hereinafter defined) possession or occupancy of all or any portion of the Leased Premises shall be Taken, the Base Rent shall be reduced during the duration of such `faking in a fair and equitable manner that reflects the inability of Lessee to use the affected portion of the Leased Premises. A Taking shall be considered "temporary" only if the period of time during which Lessee is deprived of usage of all or part of the Leased Premises as the result of such Taking does not materially interfere with the ability of Lessee to use and operate the Leased Premises as a conference center in the manner contemplated by the Parties hereto. Any other "Taking" that is not "temporary" as described above shall be treated as an entire Taking under Section 10.3 above or as a partial Taking under Section 10.4 above. 10.6 Condemnation Award. (a) No Taking shall have the effect of terminating this Lease. None of the provisions of this Article 10 shall affect the right, title or interest of Lessee in the leasehold interest created by this Lease. For the purposes of determining the portion of any condemnation award to which Lessee is entitled to receive from the condemning authority as a matter of law, Lessee's right, title and interest in the Leased Premises shall be granted and arising under this Lease without consideration of this Article 10. This Article 10 pertains only to Lessee's and 18 2025904.1