Casualty Eminent Domain. In the event of a fire or other casualty affecting the Building or the Subleased Premises, or of a taking of all or a part of the Building or Subleased Premises under the power of eminent domain: (i) Sublandlord shall not have any obligation to repair or restore the Subleased Premises or any Alterations, Licensed Property or personal property; (ii) Subtenant shall be entitled only to a proportionate abatement of Monthly Base Rent, Additional Rent and other charges to the extent Sublandlord receives a corresponding abatement of rent under the Xxxxxxxxx during the time and to the extent the Occupied Portion of the Subleased Premises are unfit for occupancy for the purposes permitted under this Sublease and not occupied by Subtenant as a result thereof; (iii) Subtenant shall not, by reason thereof, have a right to terminate this Sublease unless the Xxxxxxxxx shall be terminated; and (iv) Sublandlord reserves the right to terminate the Xxxxxxxxx and this Sublease in connection with any right granted to it under Articles X and XI of the Xxxxxxxxx whether or not the Subleased Premises is damaged or the subject of a taking. In the event Overlandlord or Sublandlord exercises the right to terminate the Xxxxxxxxx as the result of any such fire, casualty or taking, Sublandlord shall provide Subtenant with a copy of the relevant termination notice and this Sublease shall terminate on the date upon which the Xxxxxxxxx terminates.
Casualty Eminent Domain. 9.1.1 If at any time during the Term of this Lease, a material portion of the Property, the Building or the Premises shall be (i) damaged or destroyed by fire or other casualty (a “Casualty”) or (ii) taken under the power of eminent domain or condemned by any competent authority for any public or quasi-public use or purpose, or sold to prevent the exercise thereof (a “Taking”), then Landlord shall have the right to elect, in Landlord’s sole and absolute discretion, to either (a) terminate this Lease by delivery of written notice (a “Termination Notice”) thereof to Tenant or (b) to continue this Lease, in which case, Landlord shall repair and reconstruct the Tenant Space to substantially the same condition in which they existed immediately prior to such Casualty or Taking (except for the Premises, which must only be restored to its Commencement Date (i.e., “shell”) condition). If as a result of the Casualty or Taking, the Tenant Space is unfit for use by Tenant in the ordinary conduct of Tenant’s business and actually is not used by Tenant, then Landlord shall provide written notice (the “Restoration Notice”) to Tenant as soon as practicable after the Casualty or Taking of the period of time (the “Stated Restoration Period”) which shall be required for the repair and restoration of the Building to permit use of the Tenant Space in the ordinary conduct of Tenant’s business and Tenant shall have the right, at its election, to terminate this Lease if either (i) the Stated Restoration Period shall be in excess of ninety (90) days following the Casualty or Taking and Tenant terminates this Lease with written notice thereof to Landlord within thirty (30) days following delivery of the Restoration Notice, or (ii) Landlord shall fail within the Stated Restoration Period to complete the repair and restoration of the Building necessary to allow Tenant’s use of the Tenant Space in the ordinary conduct of Tenant’s business and Tenant delivers written notice of such termination to Landlord within thirty (30) business days following the expiration of the restoration deadline.
Casualty Eminent Domain. If due to a fire, casualty, or eminent domain either: (i) the Premises or (ii) a substantial portion of the Shopping Center is materially damaged and/or rendered untenantable then either Licensee or Licensor shall have the option, within ninety (90) days after the date of casualty or notice of the eminent domain, on written notice to the other, to terminate the License, in which case the License shall end on the date specified in the notice. Licensee shall not be entitled to any condemnation award or insurance proceeds, except insurance proceeds recovered for damage to Licensee's personal property.
Casualty Eminent Domain. Should a substantial portion of the rented Premises be substantially damaged by fire or other casualty, or if the rented 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 the Landlord or Tenant. If this Rental Agreement is not so Terminated, then a just and proportionate abatement of rent shall be made.
Casualty Eminent Domain. If part of the Premises is destroyed by fire or other casualty (“Casualty”) or taken by right of eminent domain or conveyed in lieu thereof so as to render the Premises unusable, Owner may terminate this Agreement and payment for the Premises shall be made only to the date of the Casualty or taking. Owner shall have no responsibility to User due to the unavailability of the Premises as a result of Casualty or taking.
Casualty Eminent Domain. The Project has not incurred any undisclosed Casualty or Condemnations since the date of the Property Condition Report delivered pursuant to Section 12.1.19.
Casualty Eminent Domain. If the improvements on the Leased Premises are damaged or destroyed by fire or other casualty, or partially taken or damaged by eminent domain proceedings, or any other cause whatsoever, then Landlord shall repair and restore said improvements to their condition immediately prior to such damage or destruction. In the event of damage due to fire or other casualty, there shall be no abatement of Rental Payments or any other sums payable by Tenant under this Lease for the then remaining Renewal Term. In any event Tenant shall immediately secure the Leased Premises to prevent waste or exposure. Landlord shall commence such repair and restoration as soon as commercially practicable after such occurrence and diligently pursue such repair and restoration to completion. Notwithstanding anything herein to the contrary, if Tenant ever ceases to operate the Amenities on the Leased Premises for 30 days or longer, subject to damage, destruction, condemnation and eminent domain, Landlord may, in its sole discretion and after at least 10 days advance notice to Tenant (which notice may be given within 10 days after the Tenant ceases operation of the Amenities), elect to terminate this Lease as of such future date designated by Landlord in such notice in which event Tenant will be released of any further liability as of the date of termination; provided that after receiving such notice, but prior to the termination date of the Lease, Tenant has the option of providing a notice to pay the Purchase Price within six months of the date of such notice.
Casualty Eminent Domain. If the Unit is damaged by fire or other casualty which requires closing all units, this Agreement shall terminate upon Agent's written notice to Owner. If the Unit, or any portion thereof, is taken under the power of eminent domain, this Agreement shall terminate upon written notice from either party to the other.
Casualty Eminent Domain. If prior to the Closing Date all or any part of the Property is destroyed by casualty or taken, or threatened to be taken, by eminent domain, Seller shall give Purchaser prompt written notice thereof, and thereafter, either party may, by written notice to the other, elect to cancel this Agreement. In the event that either party shall elect to cancel this Agreement, Seller shall refund all money paid, if any, by Purchaser and both parties shall be relieved of and from any further liability hereunder. In the event neither party elects to cancel, this Agreement shall remain in full force and effect and Seller shall assign to Purchaser on the Closing Date all of its rights in and to any insurance proceeds payable as a result of damage to the Property or awards that may be made for taking of any portion of the Property. In the event of a casualty, Seller shall take commercially reasonable steps to stabilize the Property and shall be entitled to retain the reasonable and documented cost of such stabilization, to the extent that such stabilization costs exceed Seller’s insurance deductible.
Casualty Eminent Domain. (a) If all or such portion of the Premises is destroyed or damaged by fire or other casualty, or taken by any public or quasi-public agency or authority by right of eminent domain or deed given by Landlord in lieu thereof, such that the damage or taking materially interferes with Xxxxxx’s use the Premises for the Permitted Uses in a manner comparable to Tenant’s use prior thereto, in Tenant’s reasonable determination, and/or such damage cannot be repaired and/or the Premises restored to its condition prior to the casualty within thirty (30) days from the casualty, Tenant shall have the right to terminate this Lease, without recourse, by giving Landlord at least thirty (30) days prior written notice thereof.
(b) If any part of the Premises is damaged by fire or other casualty or is taken by a public authority and this Lease is not terminated by Tenant as provided above, Tenant shall proceed with reasonable diligence to repair and restore the Premises, or what remains thereof in the case of a partial taking, to its condition prior to such caualty/taking, provided, however, that Xxxxxx’s obligation hereunder shall be limited to the extent of the insurance proceeds recovered by Tenant.
