Common use of Casualty and Taking Clause in Contracts

Casualty and Taking. If, during the Term, all or any substantial part of the Premises, the Building or the Property is damaged materially by fire or other casualty or taken by eminent domain or by action of public or other authority in consequence thereof, or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, this Lease shall terminate at Landlord's election, which may be made notwithstanding Landlord's entire interest may have been divested, by notice given to Tenant within thirty-seven (37) days after such casualty or taking specifying the effective date of termination which shall not be less than thirty (30) nor more than sixty (60) days after the date of notice of such termination. If in any such case the Premises, the Building or the Property are rendered unfit for use and occupancy and this Lease is not terminated, Landlord shall use due diligence to restore the same or, in case of taking, what may remain thereof (excluding in each case any items installed or paid for by Tenant which Tenant may be required or permitted to remove) to substantially the same condition as existed immediately prior to such fire or other casualty or taking to the extent permitted by laws and ordinances then in effect and by the net award of insurance or damages actually received by Landlord, and a just proportion of the rent, according to the nature and extent to which the Premises have been rendered untenantable, shall be abated until the substantial completion of such work.

Casualty and Taking. If, In case during the Term, Term all or any substantial part of the Premises, and/or the Building Parking Area, or any part thereof, or both (i.e. in the Property is case of a fire or casualty, requiring greater than twelve (12) months to rebuild in Landlord's reasonable judgment; or in the case of a condemnation or a taking, more than thirty-five percent (35%) of the floor area of the Premises or any material part of the means of access thereto or more than twenty-five percent (25%) of Building Parking Area) are damaged materially by fire or any other casualty or taken by eminent domain or by action of public or other authority in consequence thereof or are taken by eminent domain Landlord shall give prompt notice, (i.e. within thirty (30) days thereof, or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, ) to Tenant (the "Landlord's Notice") and this Lease shall terminate at LandlordTenant's election, which may be made notwithstanding Landlord's entire interest may have been divested, by notice given to Tenant Landlord within thirty-seven thirty (3730) days after such casualty or taking specifying the effective date of Landlord's Notice, which termination which shall be effective (i) in the event of a casualty, not be less than thirty (30) nor more than sixty (60) days after the date of notice of such termination, and (ii) in the event of eminent domain event, as of the date on which such taking becomes effective and Tenant is deprived of the use and enjoyment of the Premises, or part thereof, and/or the Building Parking Area, or part thereof. If in any such case the Premises, the Building or the Property are rendered unfit for use and occupancy and this Lease is not so terminated, Landlord shall proceed promptly and use due diligence to restore put the same orPremises, or part thereof, and/or the Building Parking Area, or part thereof, or in case of taking, what may remain thereof (excluding in each case any items installed or paid for by Tenant which Tenant may be required or permitted to removeremove upon the expiration of the Term) into as near as possible to substantially the same condition as existed immediately and character thereof prior to such fire damage or other casualty taking, and in any event shall apply all insurance proceeds or taking eminent domain awards received by it toward such work, for use and occupation to the extent permitted by laws and ordinances then in effect and by the net award of insurance plus any deductibles and such amounts as Tenant may 38 42 elect to make available for such work as hereinafter provided, or damages actually received by Landlordthe amount of the eminent domain award, and a just an equitable proportion of the rent, Fixed Rent and additional rent according to the nature and extent to which of the Premises have been rendered untenantable, injury shall be abated until the substantial completion Premises or such remainder and the Building Parking Area shall have been put by Landlord in such condition; and in case of a taking which permanently reduces the area of the Premises, an equitable proportion of the Fixed Rent and additional rent shall be abated for the remainder of the Term and an appropriate adjustment shall be made to the Annual Estimated Operating Costs and other additional rent payable hereunder. However, in the case of a casualty, if such damage is not repaired and the Premises, or portion thereof, and/or Building Parking Area or part thereof, restored to the same condition as they were prior to such damage within twelve (12) months from the date of Landlord's Notice, then Tenant, within thirty (30) days from the expiration of such work.twelve (12) month period or from the expiration of any extension thereof by reason of any Tenant's Delay (as defined in Section 3.2 hereof) and/or Force Majeure (as defined in Section 3.5 hereof and subject to the provisions set forth below) as hereinafter provided, may terminate this Lease by notice to Landlord and Landlord's mortgagee(s), given in accordance with Section 10.3 hereof, specifying a date not more than thirty (30) days after the giving of such notice on which the Term of this Lease shall terminate. Notwithstanding such termination notice by Tenant, in the event that Landlord repairs such damage and restores the Premises to the same condition prior to such casualty during such period, not to exceed thirty (30) days, as specified in Tenant's notice, then such notice of termination given by Tenant to Landlord hereunder shall be null and void and of no further force or effect. The period within which the required repairs may be accomplished hereunder shall be extended by (a) the number of days lost as a result of a Tenant's Delay, as defined in and subject to the provisions of Section 3.2, with such term, however, relating to restoration or repair as referenced herein and not to the initial construction of the Building, and (b) the number of days lost as a result of Force Majeure, as defined in Section 3.5 (up to a maximum of forty-five (45) days in the aggregate as aforesaid). If less than a substantial part of the Premises or Lot, or portion thereof, and/or the Building Parking Area, or portion thereof (i.e. in the case of a fire or casualty, requiring less than twelve (12) months to rebuild in Landlord's reasonable judgment; or in the case of a condemnation or taking thirty-five percent (35%) or less of the floor area of the Premises or any part of the means of access thereto or twenty-five percent (25%) or less of the Building Parking Area) are damaged by fire or any other casualty or are taken by eminent domain, then Landlord shall give prompt notice (i.e. within thirty (30) days) thereof to Tenant, which notice shall specify Landlord's estimation of the time period within which such repairs shall be completed, and thereafter Landlord shall proceed promptly and with due diligence to the extent permitted by the net award of insurance plus any deductible amounts and such amount as Tenant may elect to make available for such work as hereinafter provided, or the amount of the eminent domain award. In the event that Landlord fails to repair such damage and restore the Premises to substantially the same condition prior to such fire and other casualty within the time period as reasonably estimated by Landlord, but in no event greater than such twelve (12) month period from the date of such Landlord's notice to Tenant, or any extension thereof permitted for delays lost due to any Tenant's Delay and/or Force Majeure (as hereinbefore provided), then Tenant

Casualty and Taking. If, In case during the Term, Term all or any substantial part of the Premises, the Building or the Property is are damaged materially by fire or any other casualty or taken by eminent domain cause, or by action of public or other authority in consequence thereof, or are taken by eminent domain, either Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, Tenant shall have the right to terminate this Lease shall terminate at Landlord's election, which may be made notwithstanding Landlord's entire interest may have been divestedLease, by notice given to Tenant within thirty-seven (37) 30 days after such casualty or taking specifying the occurrence of the event giving rise to the election to terminate, which notice shall specify the effective date of termination which shall be not be less than thirty (30) 30 nor more than sixty (60) 60 days after the date of notice of such termination. If in any such case the Premises, the Building or the Property are rendered unfit for use and occupancy and Landlord does not terminate this Lease is not terminatedas provided above, Landlord shall use due diligence to restore the same Premises, or, in case of a taking, what may remain thereof (excluding in each case any items installed or paid for by Tenant which Tenant may be required or permitted to remove) to substantially the same into proper condition as existed immediately prior to such fire or other casualty or taking for use and occupation to the extent permitted by laws and ordinances then in effect and by the net award of insurance or damages actually received by available to Landlord, and a just proportion of the rent, Base Rent according to the nature and extent to which of the Premises have been rendered untenantable, injury shall be abated until the substantial completion Premises or such remainder shall have been restored by Landlord to such condition; and in case of such worka taking which permanently reduces the area of the Premises, a just proportion of the Base Rent and shall be abated for the remainder of the Term.

Casualty and Taking. If, In case during the Term, Term all or any substantial part of the Premises, the Building or the Property is are damaged materially by fire or any other casualty or taken by eminent domain cause, or by action of public or other authority in consequence thereof, or are taken by eminent domain, Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, shall have the right to terminate this Lease shall terminate at Landlord's election, which may be made notwithstanding Landlord's entire interest may have been divestedLease, by notice given to Tenant within thirty-seven (37) 30 days after such casualty or taking specifying the occurrence of the event giving rise to the election to terminate, which notice shall specify the effective date of termination which shall be not be less than thirty (30) 30 nor more than sixty (60) 60 days after the date of notice of such termination. If in any such case the Premises, the Building or the Property are rendered unfit for use and occupancy and Landlord does not terminate this Lease is not terminatedas provided above, Landlord shall use due diligence to restore the same Premises, or, in case of a taking, what may remain thereof (excluding in each case any items installed or paid for by Tenant which Tenant may be required or permitted to remove) to substantially the same into proper condition as existed immediately prior to such fire for use and occupation within 180 days of Landlord's receipt of insurance or other casualty or taking condemnation proceeds to the extent permitted by laws and ordinances then in effect and by the net award of insurance or damages actually received by available to Landlord, and a just proportion of the rent, Base Rent according to the nature and extent to which of the Premises have been rendered untenantable, injury shall be abated until the substantial completion Premises or such remainder shall have been restored by Landlord to such condition; and in case of such worka taking which permanently reduces the area of the Premises, a just proportion of the Base Rent shall be abated for the remainder of the Term.

Casualty and Taking. If, In case during the Term, Term all or any substantial part of the Premises, the Building or the Property is Charxxx Xxxare Site, or any one or more of them, are (i) damaged materially by fire or any other casualty or taken by eminent domain cause or by action of public or other authority in consequence thereof, thereof or (ii) taken by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authorityauthority and as a consequence all or any substantial part of the Premises, Building or Charxxx Xxxare Site are damaged materially, this Lease shall terminate at Landlord's election, which may be made made, notwithstanding Landlord's entire interest may have been divested, by notice given to Tenant within thirty-seven (37) 30 days after such casualty or taking specifying the occurrence of the event giving rise to the by election to terminate, which notice shall specify the effective date of termination which shall be not be less than thirty (30) 30 nor more than sixty (60) 60 days after the date of notice of such termination. If in any such case the Premises, the Building or the Property are rendered unfit for use and occupancy and this Lease is not terminated, Landlord shall use due diligence to restore the same or, in case of taking, what may remain thereof (excluding in each case any items installed or paid for by Tenant which Tenant may be required or permitted to remove) to substantially the same condition as existed immediately prior to such fire or other casualty or taking to the extent permitted by laws and ordinances then in effect and by the net award of insurance or damages actually received by Landlord, termination and a just proportion of the rentAnnual Base Rent and additional rent 39 being put into such condition within one year, according this Lease shall terminate at Tenant's election, which may be made by notice to Landlord within ten (10) days after expiration of such year or within ten (10) days after notice that the damage cannot reasonably be repaired within one year, as the case may be, and shall be effective on the date such notice is given and all of Tenant's obligations hereunder shall then cease except to pay rent accrued prior to the nature and extent to which the Premises termination, as such rent shall have been rendered untenantable, shall be abated until reduced pursuant to this Section on account of the substantial completion of such workdamage or taking.