Casualty and Eminent Domain. Landlord and Tenant jointly and severally agree that the Mortgage permits Lender, at its option, to apply to the indebtedness from time to time secured by the Mortgage any and all insurance proceeds payable with respect to any casualty loss at the Demised Premises and any and all awards or other compensation that may be payable for the condemnation of all or any portion of the Demised Premises, or any interest therein, or by way of negotiated settlement or conveyance in lieu of condemnation; and Landlord and Tenant jointly and severally consent to any such application by Lender. Notwithstanding the foregoing, Landlord and Lender agree that any and all insurance or condemnation proceeds payable with respect to Tenant's property or the interruption or relocation of Tenant's business (except for rental loss insurance proceeds) will be paid to Tenant, so long as they do not reduce the proceeds otherwise payable to Lender.
Casualty and Eminent Domain. Restoration Following Casualties. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord’s sole opinion, be required (whether or not the Premises shall have been damaged by such casualty) or in the event there is less than six (6) months of the Term remaining or in the event Landlord’s mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease by notifying Tenant in writing of such termination within ninety (90) days after the date of such casualty. If Landlord does not thus elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to restore the Building and the Premises to substantially the same condition in which it was immediately prior to the happening of the casualty. Notwithstanding the foregoing, Landlord’s obligation to restore the Building and the Premises shall not require Landlord to expend for such repair and restoration work more than the insurance proceeds actually received by Landlord as a result of the casualty. When the repairs described in the preceding two sentences have been completed by Landlord, Tenant shall complete the restoration of all furniture, fixtures and equipment which are necessary to permit Tenant’s reoccupancy of the Premises. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or the repair thereof, except that Rent shall be abated from the date of the damage or destruction for any portion of the Premises that is unusable by Tenant, which abatement shall be in the same proportion that the rentable area of the Premises that is unusable by Tenant bears to the total rentable area of the Premises; provided that Tenant shall not be entitled to any abatement of Rent if the damage or destruction within the Premises is restored within five (5) Business Days after Landlord’s receipt of written notice from Tenant of the occurrence of the damage or destruction.
Casualty and Eminent Domain. From and after the date of this Agreement, Seller agrees with Purchaser as follows:
Casualty and Eminent Domain. 36 8.1 Restoration Following Casualties................................ 36 8.2 Landlord's Termination Election................................. 37 8.3
Casualty and Eminent Domain. Should a portion of the Premises be substantially damaged by fire or other casualty, or if the Premises or any part thereof, shall be taken for any purpose by exercise of the power of eminent domain or condemnation or shall receive any direct or consequential damage for which Landlord or Tenant shall be entitled to compensation by reason of anything lawfully done in pursuance of any public authority, then this Rental Agreement shall terminate at the option of Landlord or Tenant. If this Rental Agreement is so terminated, then a just a proportionate abatement of rent shall be made.
Casualty and Eminent Domain. Should a substantial part of the Leased Premises be substantially damaged by fire or other casualty or should a substantial part of the Leased Premises be taken by eminent domain; the LESSOR may elect to terminate this Lease. When such fire, casualty, or taking renders the Leased Premises substantially unsuitable for this intended use, a just and proportionate abatement of rent shall be made, and the LESSEE may elect to terminate this Lease if:
Casualty and Eminent Domain. Without limiting any provisions of the Credit Documents, until such time as the Transfer Documents for a Project are delivered to KCCI or its designee pursuant to Section 2.9 or until a Release is delivered by KCCI in connection with a sale or refinancing of a Project, the terms of the Credit Documents shall continue to govern any casualty or condemnation to the Project, including any insurance proceeds or condemnation awards or other rights, in the manner applicable during the ongoing existence of Events of Default, provided that Borrower Parties shall have no obligation (i) to repair, restore or replace loss or damage to a Project due to casualty or condemnation except to the extent insurance or condemnation proceeds are made available therefor or (ii) to operate or manage a Project after casualty or condemnation except to the extent proceeds of business interruption insurance are made available therefor.
Casualty and Eminent Domain. 33 8.1 Restoration Following Casualties.................................33 8.2
Casualty and Eminent Domain. (a) In the event that the entire Premises, the Building or the On Site Parking Area, or any substantial part thereof, shall be taken by any exercise of the right of eminent domain or shall receive any direct or consequential or substantial damages for which Lessor or Lessee or either of them shall be entitled to compensation by reason of anything lawfully done in pursuance of any public or other authority during the Term, then this Lease shall terminate at the election of Lessor, which election may be made notwithstanding Lessor’s entire interest may have been divested. If such taking or damage substantially reduces the floor space of the Premises so as to render the Premises unusable for the Permitted Use after such taking in Lessee’s reasonable judgment, Lessee shall have the right, effective when its possession is disturbed, to terminate this Lease by notice in writing to Lessor delivered within thirty (30) days of the first day on which Lessee’s possession is so disturbed. Lessor reserves and excepts all rights to damage to the Premises and Building and the leasehold hereby created, now accrued or hereafter accruing by reason of any exercise of eminent domain, or by reason of anything lawfully done in pursuance of any public or other authority and by way of confirmation, Lessee grants to Lessor all of Lessee’s rights to such damages and covenants to execute and deliver such further instruments of assignment thereof as Lessor may from time to time request. Lessee shall be entitled to any separate award made to Lessee for Lessee’s expenses.
Casualty and Eminent Domain. In the event of any damage, destruction, casualty or condemnation affecting the Sublease Premises, Rent payable hereunder shall be abated but only to the extent that Xxxx is abated under the Master Lease with respect to the Sublease Premises. Subtenant shall have no right to terminate this Sublease in connection with any damage, destruction, casualty, condemnation or threat of condemnation except to the extent the Master Lease is also terminated as to the Master Premises or any material portion thereof.
