Casualty Near End of Term Sample Clauses

Casualty Near End of Term. Anything in this Article 6 to the contrary notwithstanding, if the Premises are destroyed or substantially damaged by an Insured or Uninsured Casualty during the last twenty four (24) months of the Term, and the Premises cannot be completely restored within a period of ninety (90) days from the date of such damage, this Lease may be terminated upon written notice by either party to the other given within thirty (30) days after the occurrence of such damage. However, if at the time of said damage Tenant has a right to extend the Term pursuant to Section 2.02 hereof, Landlord may not terminate this Lease until it has given Tenant notice of Landlord's intent to terminate this Lease and Tenant fails to exercise said right of extension within thirty (30) days after receipt of said notice. If Tenant fails to exercise said right of extension within thirty (30) days after receipt of such notice from Landlord, this Lease will terminate effective forty five (45) days after Tenant's receipt of said notice from Landlord.
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Casualty Near End of Term. If a Casualty makes eighty percent (80%) or more of the Premises untenantable during the last six (6) months of the Term, Landlord or Tenant may terminate this Lease if it notifies the other party within ninety (90) days after such Casualty and specifies an effective date, not less than twenty (20) days nor more than forty (40) days after it notifies the other party, on which date the Term will expire as fully and completely as if such date were the date originally fixed for the Term to end. If either Landlord or Tenant terminates this Lease pursuant to this Section 17.4, Base Rent will be apportioned as of the date of such Casualty.
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Casualty Near End of Term. If more than twenty five (25%) percent of 33 the Demised Premises or a substantial (i.e., more than fifty (50%) percent) portion of the Building 34 shall be damaged by fire or other casualty during the last two (2) years of the term of this Lease, 35 Landlord (provided Landlord has obtained any and all required consents from any Superior Lessors 36 and/or Superior Mortgagees) or Tenant may, upon thirty (30) days' Notice to the other, cancel and 37 terminate this Lease as of the date set forth in such Notice, as if such date were the stated Expiration 38 Date of this Lease and Landlord shall have no duty to repair and/or restore the Demised Premises.
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Casualty Near End of Term. If more than twenty-five percent (25%) of the Premises or a substantial (i.e., more than fifty percent (50%)) portion of the Building shall be damaged by fire or other casualty during the last twenty-four (24) months of the Term, Landlord or Tenant may, upon thirty (30) days' Notice to the other party, cancel and terminate this Lease as of the date set forth in such Notice, as if such date were the stated Expiration Date of this Lease and Landlord shall have no duty to repair and/or restore the Premises.
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Casualty Near End of Term. If the Leased Premises is substantially damaged or destroyed by a casualty during the last two (2) years of the Original Term or during an Extension Term then in effect Landlord or Tenant may elect to terminate this Lease upon written notice to the other party given within sixty (60) days after the occurrence of the casualty (the “Termination Election Period”). If neither party elects to terminate this Lease prior to the expiration of the Termination Election Period, Tenant shall restore the Leased Premises to substantially the same condition that existed immediately prior to the occurrence of the casualty, with such restoration to commence no later than thirty (30) days after the expiration of the Termination Election Period. Tenant shall thereafter complete such restoration of the Leased Premises without delay and using reasonable diligence unless it is an uninsured casualty, in which case Section 15.2 herein shall apply. If this Lease is not terminated in accordance with this Section 15.3 and Tenant fails to commence to restore the Leased Premises within thirty (30) days after the expiration of the Termination Election Period, subject to force majeure and governmental delays, then Landlord shall have the right to declare Tenant in default of this Lease, in which case Landlord shall be entitled to exercise the rights and remedies available at Law or in equity, in addition to any rights and remedies available under this Lease.
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Casualty Near End of Term. Notwithstanding any contrary provision hereof, if (a) during the last eighteen (18) months of the Term of the Lease, the Improvements are destroyed or substantially damaged such that more than twenty-five percent (25%) of the residential units will not be able to be occupied for a period of ninety (90) days or longer, (b) County has issued a County Removal Notice as to all or substantially all of the Improvements located on the Premises, and (c) the County Removal Notice has not been revoked by County prior to the date of the damage or destruction or within thirty (30) days after the date of such damage or destruction (but, as provided in Subsection 2.3.2 County shall have no right to revoke a County Removal Notice during the last six (6) months of the Term of the Lease), then Lessee shall have the right to terminate this Lease by written notice to County within sixty (60) days after the date of the damage or destruction, provided that as a condition to such termination all of the following must be satisfied:
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Casualty Near End of Term. Anything in this Article 17 to the contrary notwithstanding, if the Premises is destroyed or substantially damaged by an Insured or Uninsured Casualty during the last twenty-four (24) months of the term of this Lease, and the Premises cannot be completely restored within a period of one hundred eighty (180) days from the date of such damage, as estimated by Landxxxx'x xontractor, this Lease may be terminated upon written notice by either party to the other given within sixty (60) days after the occurrence of such damage. However, except as otherwise provided in Section 17.3. If at the time of said damage Tenant has a right to extend the term of this Lease pursuant to section 2.2 hereof, Landlord may not terminate this Lease until it has given Tenant notice of Landlord's intent to terminate this Lease and Tenaxx xxxls to exercise said right of extension within thirty (30) days after receipt of said notice. If Tenant fails to exercise said right of extension within thirty (30) days after receipt of such notice from Landlord, this Lease will terminate effective forty five (45) days after Tenaxx'x xeceipt of said notice from Landlord.
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Related to Casualty Near End of Term

  • End of Term 16.1 At the end of the Term, Tenant shall promptly quit and surrender the Premises broom-clean and in good order and repair, ordinary wear and tear and damage from casualty which Tenant is not required by other provisions of this Lease to repair excepted. If Tenant is not then in default, Tenant shall have the right to remove from the Premises any Removable Trade Fixtures (as defined in Section 14.1 (b)), unattached equipment, and movable furniture placed in the Premises by Tenant. Whether or not Tenant is in default, Tenant shall remove such Alterations, equipment, and furniture as Landlord has required under Article 14. Tenant shall fully and properly repair any damage occasioned by the removal of any Removable Trade Fixtures, equipment, furniture and Alterations. All trade fixtures, equipment, furniture, inventory, effects and Alterations left on the Premises after the end of the Term shall be deemed conclusively to have been abandoned and may be appropriated, sold, stored, destroyed, or otherwise disposed of by Landlord without written notice to Tenant or any other person and without obligation to account for them. Alternatively, Landlord, at its option, shall have the right to declare the Term to be continuing until all such property is removed and the Premises surrendered to Landlord in the condition required by this Lease, and Monthly Rent (at the rate specified in Section 27.11) and Additional Rent shall continue to accrue and shall be payable upon demand. Tenant shall pay Landlord for all expenses incurred in connection with the removal of such property, including but not limited to the cost of repairing any damage to the Building or Premises caused by the removal of such property. Tenant's obligation to observe and perform this covenant shall survive the expiration or other termination of this Lease.

  • CASUALTY LOSS AND CONDEMNATION If, prior to Closing, the Property or any part thereof shall be condemned, or destroyed or materially damaged by fire or other casualty (that is, damage or destruction which Purchaser reasonably believes could be in excess of $25,000.00), Purchaser shall have the option either to terminate this Agreement or to consummate the transaction contemplated by this Agreement notwithstanding such condemnation, destruction or material damage. If the Purchaser elects to consummate the transaction contemplated by this Agreement and if the Seller, as of the Closing Date, has not received the insurance proceeds or condemnation proceeds related to such damage, destruction or condemnation, then Seller, at Closing, shall assign all insurance claims pertaining to such damage or destruction and all rights to condemnation proceeds to Purchaser by executing and delivering to Purchaser all required proofs of loss, assignments of claim and/or proceeds and other similar items. If the Purchaser elects to consummate the transaction contemplated by this Agreement and if the Seller, as of the Closing Date, has received the insurance proceeds or condemnation proceeds related to such damage, destruction or condemnation, then Seller, at Closing, shall allow Purchaser a credit against the Purchase Price in an amount equal to the amount of insurance proceeds (together with an amount equal to any deductible(s) and uninsured amounts) or condemnation proceeds received by the Seller prior to Closing. If Purchaser elects to terminate this Agreement, this Agreement shall, without further action of the parties, become null and void and neither party shall have any rights or obligations under this Agreement, except for those obligations which specifically survive termination of this Agreement. If there is any other damage or destruction (that is, damage or destruction which Purchaser reasonably believes could be $25,000.00 or less) to the Property or any part thereof, Seller shall either repair such damage prior to Closing or, at Purchaser's option, either assign all insurance claims pertaining to such damage or destruction to Purchaser by executing and delivering to Purchaser at Closing and thereafter all required proofs of loss, assignments of claims and other similar items or allow Purchaser a credit against the Purchase Price in an amount equal to the reasonably estimated cost of a repair. If Purchaser elects to take an assignment of all insurance claims as provided for in this Section 6, Purchaser shall receive at Closing a credit against the Purchase Price in an amount equal to any deductible(s) and uninsured amounts applicable thereto.

  • Casualty Neither the businesses nor the properties of any Loan Party or any of its Subsidiaries are affected by any fire, explosion, accident, strike, lockout or other labor dispute, drought, storm, hail, earthquake, embargo, act of God or of the public enemy or other casualty (whether or not covered by insurance) that, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.

  • Casualty Loss If in Owner’s reasonable judgment the premises or the Property is materially damaged by fire or other casualty, Owner may terminate this Agreement within a reasonable time after such determination, by written notice to Resident, in which case Owner will refund prorated, pre-paid rent and all deposits less lawful deductions unless Resident and/or Resident’s guest(s) caused the casualty, in which case all funds on account will be applied to all applicable charges related to the damages and Resident will be responsible for the balance of all charges for repairs. If following a fire or other casualty Owner has not elected to terminate this Agreement, Owner will rebuild the damaged areas within a reasonable time, and during such reconstruction, Resident will be provided a reasonable rent reduction for the unusable portion of the premises unless Resident and/or Resident’s guest(s) caused the casualty.

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