Casualty Losses Sample Clauses

Casualty Losses. In the event that more than twenty-five (25%) of the square footage of the demised premises is damaged, destroyed, or rendered untenantable by fire or other casualty, Landlord may elect to terminate this lease by giving notice of such election to Tenant on or before the day which is ninety (90) days after such fire or other casualty, stating the date of termination, which termination shall be not more than thirty (30) days nor less than twenty-one (21) days after the date on which such notice of termination shall have been given; and (1) upon the date specified in such notice this lease and the term hereof shall cease and expire; and (2) any fixed annual rent and additional rent paid for a period after such date of termination shall be refunded to Tenant upon demand. If the leased premises are damaged or destroyed in whole or in part by fire or other casualty and the Tenant(s) do not want to terminate the lease, then the obligations of Tenant to pay fixed rent and to perform all of the other covenants and agreements on the part of Tenant to be performed pursuant to this shall not be diminished or affected.

Casualty Losses. Such Container shall not have suffered a Casualty Loss; and

Casualty Losses. The term "Casualty" means, a material adverse change in the Assets, taken as a whole, which is caused by an event of casualty, including but not limited to, volcanic eruptions, acts of God, fire, explosion, earthquake, wind storm, strike, lockout, labor dispute, flood, drought, war, embargo, riot, condemnation, the exercise of any right of eminent domain, confiscation, seizure, activities of armed forces, operation of laws, rules or regulations (regardless of whether covered by insurance, but excepting depletion due to normal production, depreciation of equipment through ordinary wear and tear and transactions permitted under this Agreement). If, subsequent to the Effective Time and prior to Closing, a Casualty occurs (or Casualties occur) which results in a reduction in the aggregate value of the Assets ("Casualty Loss") by an amount equal to Ten Million Dollars ($10,000,000.00) or more, Purchaser may elect to terminate this Agreement. If Purchaser does not elect to terminate this Agreement notwithstanding such Casualty Loss or if the Casualty Loss is less than Ten Million Dollars ($10,000,000.00), then Purchaser shall have the option to require Seller to either (i) retain the Asset affected by such Casualty and such Asset shall be subject to the adjustment of Purchase Price in the same manner set forth in Section 3.6 hereof as if the Casualty Loss was a Title Defect, or (ii) pay to Purchaser at Closing all sums paid to Seller by reason of such Casualty, provided however, that the Purchase Price shall not be adjusted by reason of such payment, and Seller shall assign, transfer and set over unto Purchaser all of the right, title and interest of Seller in and to such Asset and any unpaid awards or other payments arising out of such Casualty. Seller shall not voluntarily compromise, settle or adjust any amounts payable by reason of such Casualty without first obtaining the written consent of Purchaser.

Casualty Losses. Any casualty loss or event not insured against in an amount in excess of $100,000.

Casualty Losses. The aggregate Casualty Losses shall be less than 20% of the unadjusted Purchase Price.

Casualty Losses. Suffered any casualty, damage, destruction or loss to any of its properties not covered by insurance in excess of $25,000 for any one event or in excess of $50,000 in the aggregate;

Casualty Losses. Such Container shall not have suffered a Casualty Loss on such date of determination;

Casualty Losses. There have been no Casualty Losses since the Effective Time with respect to any Company Assets with Damages estimated to exceed Seven Hundred Fifty Thousand Dollars ($750,000) net to the interest of the applicable Company(ies).

Casualty Losses. On or prior to the time of Closing, the Center shall not have sustained any loss, whether or not insured, by reason of physical damage to the Center caused by fire, flood, accident, explosions or other calamity which would adversely affect the carrying on of its business in the normal and regular course.

Casualty Losses. In the event that there shall have been suffered between the date hereof and the Primary Closing any casualty loss relating to the Assets that becomes known to Seller, Seller will promptly notify Purchaser of such event. Seller shall, to the extent practicable, repair, rebuild or replace the portion of the Assets damaged, destroyed or lost prior to the Primary Closing Date. To the extent the repair, rebuild or replacement of the portion of the Assets damaged, destroyed or lost prior to the Primary Closing Date is not practicable, then the Purchase Price shall be reduced by the amount, mutually acceptable to Purchaser and Seller, which is estimated by the parties to equal the out-of-pocket costs and expenses that Purchaser is reasonably likely to incur to repair, rebuild or replace, in accordance with cellular telephone industry practices, such damaged, destroyed or lost Assets after the Primary Closing Date, and Seller shall retain all insurance proceeds payable as a result of the occurrence of the event resulting in such loss or damage.