Common use of CASUALTY AND RESTORATION; EMINENT DOMAIN Clause in Contracts

CASUALTY AND RESTORATION; EMINENT DOMAIN. If the Premises, or any part thereof, shall be damaged or destroyed by fire or other casualty or damage by eminent domain then Sublessee shall promptly notify Prime Lessor and Sublessor. Under the Prime Lease the Prime Lessor is obligated, as soon as possible thereafter, to repair or restore the Premises to the extent and in the manner set forth in Sections 17 and 17A of the Prime Lease, as the case may be. If Prime Lessor abates Sublessor's rent with respect to the Premises as a result, then Rent and other charges hereunder shall be similarly abated for so long as Sublessor is entitled to and receives an abatement under the Prime Lease. If damage is of the type which entitles Prime Lessor or Sublessor to terminate the Prime Lease and either such party so elects to terminate the Prime Lease, then the Prime .Lease shall cease and come to an end and this Sublease shall similarly terminate. In addition, if damage is of the type which would entitle Sublessor to terminate the Prime Lease, Sublessee shall have the right to exercise Sublessor's right of termination by giving both Sublessor and Prime Lessor written notice of such termination within the applicable notice period set forth in Sections 17 and 17A of the Prime Lease, as the case may be. Sublessee acknowledges that Sublessor shall, in no event, have any obligation whatsoever to rebuild or restore any damage to the Premises.

Appears in 1 contract

Samples: Sublease (Dyax Corp)

AutoNDA by SimpleDocs

CASUALTY AND RESTORATION; EMINENT DOMAIN. If the Premises, or any part thereof, shall be damaged or destroyed by fire or other casualty or damage by eminent domain then Sublessee shall promptly notify Prime Lessor and Sublessor. Under the Prime Lease the Prime Lessor is obligated, as soon as possible thereafter, to repair or restore the Premises to the extent and in the manner set forth in Sections 17 and 17A of the Prime Lease, as the case may be. If Prime Lessor abates Sublessor's rent with respect to the Premises as a result, then Rent and other charges hereunder shall be similarly abated for so long as Sublessor is entitled to and receives an abatement under the Prime Lease. If damage is of the type which entitles Prime Lessor or Sublessor to terminate the Prime Lease and either such party so elects to terminate the Prime Lease, then the Prime .Lease Lease shall cease and come to an end and this Sublease shall similarly terminate. In addition, if damage is of the type which would entitle Sublessor to terminate the Prime Lease, Sublessee shall have the right to exercise Sublessor's right of termination by giving both Sublessor and Prime Lessor written notice of such termination within the applicable notice period set forth in Sections 17 and 17A of the Prime Lease, as the case may be. Sublessee acknowledges that Sublessor shall, in no event, have any obligation whatsoever to rebuild or restore any damage to the Premises.

Appears in 1 contract

Samples: Sublease (Cambridge Neuroscience Inc)

CASUALTY AND RESTORATION; EMINENT DOMAIN. If the Premises, or any part thereof, shall be damaged or destroyed by fire or other casualty or damage subject to a taking by eminent domain then Sublessee shall promptly notify Prime Lessor and Sublessor. Under the Prime Lease Lease, the Prime Lessor is obligated, as soon as possible thereafter, obligated to repair or restore the Premises in the case of a casualty to the extent and in the manner set forth in Sections 17 and 17A Article X of the Prime Lease. With respect to an eminent domain taking, as the case may bePrime Lease shall terminate pursuant to Article XI thereof. If Prime Lessor abates Sublessor's ’s rent with respect to the Premises as a resultresult of any casualty or condemnation, then Rent and other charges hereunder shall be similarly abated for so long as Sublessor is entitled to and receives an abatement under the Prime Lease. If damage is of the type which entitles Prime Lessor or Sublessor to terminate the Prime Lease Lease, and either such party so if Prime Lessor or Sublessor elects to terminate the Prime Leasedo so, then the Prime .Lease Lease shall cease and come to an end and this Sublease shall similarly terminate. In addition, if damage is of the type which would entitle Sublessor to terminate the Prime Lease, Sublessee shall have the right to exercise Sublessor's right of termination by giving both Sublessor and Prime Lessor written notice of such termination within the applicable notice period set forth in Sections 17 and 17A of the Prime Lease, as the case may be. Sublessee acknowledges that Sublessor shall, in no event, have any obligation whatsoever to rebuild or restore any damage to the Premises. If there is a casualty event and the Premises is unusable, and the damage will take longer than 180 days to repair, then Sublessee may terminate this Sublease by delivery of written notice to Sublessor.

Appears in 1 contract

Samples: Sublease (Genocea Biosciences, Inc.)

CASUALTY AND RESTORATION; EMINENT DOMAIN. If the Premises, or any part thereof, shall be damaged or destroyed by fire or other casualty or damage subject to a taking by eminent domain then Sublessee shall promptly notify Prime Lessor and Sublessor. Under the Prime Lease Lease, the Prime Lessor is obligated, as soon as possible thereafter, obligated to repair or restore the Premises in the case of a casualty to the extent and in the manner set forth in Sections 17 and 17A Article 10 of the Prime Lease. With respect to an eminent domain taking, as the case may bePrime Lease shall terminate pursuant to Article 11 thereof. If Prime Lessor abates Sublessor's ’s rent with respect to the Premises as a result, then Rent and other charges hereunder shall be similarly abated for so long as Sublessor is entitled to and receives an abatement under the Prime Lease. If damage is of the type which entitles Prime Lessor or Sublessor to terminate the Prime Lease and either such party so elects to terminate the Prime Lease, then the Prime .Lease Lease shall cease and come to an end and this Sublease shall similarly terminate. In addition, if damage is of the type which would entitle Sublessor to terminate the Prime Lease, Sublessee shall have the right to exercise Sublessor's right of termination by giving both Sublessor and Prime Lessor written notice of such termination within the applicable notice period set forth in Sections 17 and 17A of the Prime Lease, as the case may be. Sublessee acknowledges that Sublessor shall, in no event, have any obligation whatsoever to rebuild or restore any damage to the Premises.

Appears in 1 contract

Samples: Sublease (Akebia Therapeutics, Inc.)

AutoNDA by SimpleDocs

CASUALTY AND RESTORATION; EMINENT DOMAIN. If the Premises, or any part thereof, shall be damaged or destroyed by fire or other casualty or damage subject to a taking by eminent domain then Sublessee shall promptly notify Prime Lessor and Sublessor. Under the Prime Lease Lease, the Prime Lessor is obligated, as soon as possible thereafter, obligated to repair or restore the Premises in the case of a casualty to the extent and in the manner set forth in Sections 17 and 17A Article VIII of the Prime Lease. With respect to an eminent domain taking, as the case may bePrime Lease shall terminate pursuant to Article VIII thereof. If Prime Lessor abates Sublessor's Xxxxxxxxx’s rent with respect to the Premises as a resultresult of any casualty or condemnation, then Base Rent and other charges hereunder shall be similarly abated for so long as Sublessor is entitled to and receives an abatement under the Prime Lease. If damage is of the type which entitles Prime Lessor or Sublessor to terminate the Prime Lease Lease, and either such party so if Prime Lessor or Sublessor elects to terminate the Prime Leasedo so, then the Prime .Lease Lease shall cease and come to an end and this Sublease shall similarly terminate. In addition, if damage is of the type which would entitle Sublessor to terminate the Prime Lease, Sublessee shall have the right to exercise Sublessor's right of termination by giving both Sublessor and Prime Lessor written notice of such termination within the applicable notice period set forth in Sections 17 and 17A of the Prime Lease, as the case may be. Sublessee acknowledges that Sublessor shall, in no event, have any obligation whatsoever to rebuild or restore any damage to the Premises.

Appears in 1 contract

Samples: Sublease (Bluebird Bio, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!