Common use of Condemnation and Casualty Clause in Contracts

Condemnation and Casualty. 13.1 You will promptly advise FUA upon Your receipt of a notice of default or termination under Your lease or mortgage, and will promptly provide FUA a copy of the notice. You will also give FUA notice of any proposed taking of the Unit or any portion thereof through the exercise of the power of eminent domain at the earliest possible time. If the Unit or a substantial part thereof is to be taken, the Unit may be relocated within the area specified in Exhibit A, or elsewhere with FUA written approval in accordance with our relocation procedures. If You open a new Unit at another location in accordance with FUA standards and general specifications within one year of the closing of the old Unit, the new Unit will be deemed to be the Unit licensed under this Agreement. If a condemnation, lease termination or mortgage default takes place and a new Unit does not, for any reason, become the Unit as provided in this Subsection then the Franchise will terminate upon notice by FUA. 13.2 If the Unit is damaged, You will expeditiously repair the damage. If the damage or repair requires closing the Unit, You will immediately notify FUA in writing, and will: A. Relocate the Unit as provided in Subsection 13.1 or B. Repair or rebuild the Unit in accordance with FUA then existing standards and general specifications, and reopen the Unit for continuous business operations as soon as practicable (but in any event within 12 months after closing the Unit), giving FUA 30 days' advance notice of the date of reopening. If the Unit is not (or, in the opinion of FUA cannot be) reopened in accordance with this Section, or relocated pursuant to Subsection 13.1, the Franchise will terminate upon notice to You. 13.3 The Term will not be extended by any interruption in the Unit's operations, except for an act of God that results in the Unit being closed not less than 60 days nor more than 180 days. You must apply for any extension within 30 days following the reopening of the Unit. No event during the Term will excuse You from paying Franchise Fees or Advertising Fees as provided in this Agreement.

Appears in 3 contracts

Samples: Franchise Agreement (Famous Uncle Als Hot Dogs & Grille Inc), Franchise Agreement (Famous Uncle Als Hot Dogs & Grille Inc), Franchise Agreement (Famous Uncle Als Hot Dogs & Grille Inc)

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Condemnation and Casualty. 13.1 (a) You will promptly advise FUA upon Your receipt of a notice of default or termination under Your lease or mortgage, and will promptly provide FUA a copy of the notice. You will also shall give FUA us notice of any proposed taking of the Unit or any portion thereof through the exercise of the power of eminent domain domain, at the earliest possible time. If the Unit Franchised Location or a substantial part thereof of the Franchised Location is to be taken, the Unit you may request relocation and we may or may not approve your request at our sole discretion. Any such approval must be relocated in writing. If such relocation is approved by us, it will be within the an area specified in Exhibit A, or elsewhere with FUA by us and the exact location shall be subject to our further written approval approval. If such relocation is authorized and you open at a new location in accordance with our relocation procedures. If You open a new Unit at another location in accordance with FUA standards and general specifications within one year 60 days of the closing of the old Unitlocation, the new Unit location will thereafter be deemed to be the Unit licensed Franchised Location franchised under this Agreement. If such a condemnation, lease termination or mortgage default condemnation takes place and you do not open a new Unit does notlocation, for any whatever reason, become the Unit as provided under this Agreement in strict accordance with this Subsection Section within 60 days of any written approval by us of a new location, then the Franchise will this Agreement shall terminate immediately upon notice by FUAus to you. 13.2 (b) If the Unit Franchised Location is damageddamaged by fire or other casualty, You you will expeditiously repair the damage. If the damage or repair requires closing the UnitFranchised Location, You you will immediately notify FUA in writingus, and will: A. Relocate the Unit as provided in Subsection 13.1 or B. Repair will repair or rebuild the Unit Franchised Location in accordance with FUA then existing standards and general Franchisor’s specifications, and will reopen the Unit Franchised Location for continuous business operations as soon as reasonably practicable (but in any event within 12 months 60 days after closing of the UnitFranchised Location), giving FUA 30 days' us advance notice of the date of reopening. If the Unit Franchised Location is not (or, in the opinion of FUA cannot be) reopened in accordance with this Section, or relocated pursuant to Subsection 13.1, the Franchise will this Agreement shall immediately terminate upon notice by us to Youyou. 13.3 (c) The Term will term of this Agreement shall not be extended by any interruption in the Unit's operations, Franchised Location operations except for by an act of God force majeure that results in the Unit Franchised Location being closed not less than 60 days nor more than 180 365 days. You must apply for any such extension within 30 60 days following the reopening of the UnitFranchised Location. No Except as expressly provided elsewhere in this Agreement, no event during the Term will term of this Agreement shall excuse You you from paying Franchise Fees periodic franchise fees in accordance with the preceding requirements of this Agreement to the extent you receive benefits under business interruption insurance or Advertising Fees as provided similar coverage you maintain in this Agreementaccordance with the requirements of Section 8.2 above.

Appears in 2 contracts

Samples: Franchise Agreement (Papa Murphy's Holdings, Inc.), Franchise Agreement (Papa Murphy's Holdings, Inc.)

Condemnation and Casualty. 13.1 You 12.1. If there is any damage to or destruction of the Building, the Demised Premises or any portions thereof, or if any proceedings or negotiations are instituted which do or may result in a taking by condemnation or eminent domain (“Taking”), each party will promptly advise FUA upon Your receipt of a give notice of default thereof to the other, describing the nature and extent thereof. 12.2. If the restoration, replacement or termination under Your lease or mortgage, and will promptly provide FUA a copy rebuilding of the notice. You will also give FUA notice of any proposed taking of Building or the Unit Demised Premises or any portion thereof through as nearly as practicable to its value, condition and character immediately prior to any damage, destruction or Taking (“Restoration”) can be completed within ninety (90) days after the exercise occurrence, Tenant may elect to either (a) terminate the Lease immediately upon providing notice to Landlord or (b) allow Landlord to commence and complete Restoration of the power of eminent domain at Building and the earliest possible timeDemised Premises. 12.3. If the Unit or a substantial part thereof is Tenant elects to be taken, the Unit may be relocated within the area specified in Exhibit A, or elsewhere with FUA written approval in accordance with our relocation procedures. If You open a new Unit at another location in accordance with FUA standards allow Landlord to Commence and general specifications within one year complete Restoration of the closing of Building and the old UnitDemised Premises and Restoration cannot be completed within ninety (90) days after the occurrence, the new Unit will then Tenant may terminate this Lease by ten (10) days prior notice to Landlord, whereupon Basic Rent, Building Operating Cost and all other payments by Tenant hereunder shall be deemed to be the Unit licensed under this Agreement. If a condemnation, lease termination or mortgage default takes place and a new Unit does not, for any reason, become the Unit apportioned as provided in this Subsection then the Franchise will terminate upon notice by FUA. 13.2 If the Unit is damaged, You will expeditiously repair the damage. If the damage or repair requires closing the Unit, You will immediately notify FUA in writing, and will: A. Relocate the Unit as provided in Subsection 13.1 or B. Repair or rebuild the Unit in accordance with FUA then existing standards and general specifications, and reopen the Unit for continuous business operations as soon as practicable (but in any event within 12 months after closing the Unit), giving FUA 30 days' advance notice of the date of reopeningthe damage, destruction or Taking. 12.4. If Upon damage or destruction to the Unit is Building or the Demised Premises or upon a Taking thereof which does not (orresult in termination, Basic Rent, Building Operating Cost and all other payments and charges payable by Tenant hereunder shall xxxxx as of the date of the occurrence, or in the opinion case of FUA canpartial damage, destruction or Taking which does not be) reopened in accordance with this Section, or relocated pursuant cause Tenant to Subsection 13.1discontinue use of the Demised Premises as contemplated herein, the Franchise will terminate upon notice to YouBasic Rent, Building Operating Cost and all other payments and charges shall be equitably apportioned. 13.3 The Term will not 12.5. Nothing contained herein shall be extended by any interruption deemed or construed to prevent Tenant from asserting and prosecuting a claim for the value of its leasehold estate, its leasehold improvements or moving and related costs in the Unit's operations, except for an act event of God that results in the Unit being closed not less than 60 days nor more than 180 days. You must apply for any extension within 30 days following the reopening of the Unit. No event during the Term will excuse You from paying Franchise Fees or Advertising Fees as provided in this AgreementTaking.

Appears in 2 contracts

Samples: Governmental Real Estate Lease, Lease Agreement

Condemnation and Casualty. 13.1 You 11.1. If there be any damage to or destruction of the Building, the Demised Premises or any portions thereof, or if any proceedings or negotiations are instituted which do or may result in a taking by condemnation or eminent domain (“Taking”), each party will promptly advise FUA upon Your receipt of a give notice of default thereof to the other, describing the nature and extent thereof. 11.2. If the restoration, replacement or termination under Your lease or mortgage, and will promptly provide FUA a copy rebuilding of the notice. You will also give FUA notice of any proposed taking of Building or the Unit Demised Premises or any portion thereof through as nearly as practicable to its value, condition and character immediately prior to any damage, destruction or Taking (“Restoration”) can be completed within ninety (90) days after the exercise occurrence, Landlord will promptly commence and complete Restoration of the power of eminent domain at Building and the earliest possible timeDemised Premises. 11.3. If Restoration cannot be completed within ninety (90) days after the Unit or a substantial part thereof is occurrence, then Tenant may terminate this Lease by notice to be taken, Landlord given within ten (10) days following the Unit may be relocated within earlier to occur of (a) the area specified in Exhibit Adate the Restorations should have been completed, or elsewhere with FUA written approval in accordance with our relocation procedures. If You open a new Unit at another location in accordance with FUA standards and general specifications (b) the date on which Landlord advises Tenant that the Restorations cannot be completed within one year ninety (90) days of the closing of the old Unitoccurrence, the new Unit will whereupon Basic Rent and any other payments by Tenant hereunder shall be deemed to be the Unit licensed under this Agreement. If a condemnation, lease termination or mortgage default takes place and a new Unit does not, for any reason, become the Unit apportioned as provided in this Subsection then the Franchise will terminate upon notice by FUA. 13.2 If the Unit is damaged, You will expeditiously repair the damage. If the damage or repair requires closing the Unit, You will immediately notify FUA in writing, and will: A. Relocate the Unit as provided in Subsection 13.1 or B. Repair or rebuild the Unit in accordance with FUA then existing standards and general specifications, and reopen the Unit for continuous business operations as soon as practicable (but in any event within 12 months after closing the Unit), giving FUA 30 days' advance notice of the date of reopeningthe damage, destruction or Taking. 11.4. If Upon damage or destruction to the Unit is Building or the Demised Premises or upon a Taking thereof which does not (orresult in termination pursuant to subparagraph 11.3 of this Lease, Basic Rent and any other payments and charges payable by Tenant hereunder shall xxxxx as of the date of the occurrence, or in the opinion case of FUA canpartial damage, destruction or Taking which does not be) reopened in accordance with this Section, or relocated pursuant cause Tenant to Subsection 13.1discontinue use of the Demised Premises as contemplated herein, the Franchise will terminate upon notice to YouBasic Rent and any other payments and charges shall be equitably apportioned. 13.3 The Term will not 11.5. Nothing contained herein shall be extended by any interruption deemed or construed to prevent Tenant from asserting and prosecuting a claim for the value of its leasehold estate, its leasehold improvements or moving and related costs in the Unit's operations, except for an act event of God that results in the Unit being closed not less than 60 days nor more than 180 days. You must apply for any extension within 30 days following the reopening of the Unit. No event during the Term will excuse You from paying Franchise Fees or Advertising Fees as provided in this AgreementTaking.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

Condemnation and Casualty. 13.1 You 11.1. If there is any damage to or destruction of the Building, the Demised Premises or any portions thereof, or if any proceedings or negotiations are instituted which do or may result in a taking by condemnation or eminent domain (“Taking”), each party will promptly advise FUA upon Your receipt of a give notice of default thereof to the other, describing the nature and extent thereof. 11.2. If the restoration, replacement or termination under Your lease or mortgage, and will promptly provide FUA a copy rebuilding of the notice. You will also give FUA notice of any proposed taking of Building or the Unit Demised Premises or any portion thereof through as nearly as practicable to its value, condition and character immediately prior to any damage, destruction or Taking (“Restoration”) can be completed within ninety (90) days after the exercise occurrence, Tenant may elect to either (a) terminate the Lease immediately upon providing notice to Landlord or (b) allow Landlord to commence and complete Restoration of the power of eminent domain at Building and the earliest possible timeDemised Premises. 11.3. If Tenant elects to allow Landlord to Commence and complete Restoration of the Unit or a substantial part thereof is Building and the Demised Premises and Restoration cannot be completed within ninety (90) days after the occurrence, then Tenant may terminate this Lease by notice to be taken, Landlord given within ten (10) days following the Unit may be relocated within earlier to occur of (a) the area specified in Exhibit Adate the Restoration should have been completed, or elsewhere with FUA written approval in accordance with our relocation procedures. If You open a new Unit at another location in accordance with FUA standards and general specifications (b) the date on which Landlord advises Tenant that the Restoration cannot be completed within one year ninety (90) days of the closing of the old Unitoccurrence, the new Unit will whereupon Basic Rent and all other payments by Tenant hereunder shall be deemed to be the Unit licensed under this Agreement. If a condemnation, lease termination or mortgage default takes place and a new Unit does not, for any reason, become the Unit apportioned as provided in this Subsection then the Franchise will terminate upon notice by FUA. 13.2 If the Unit is damaged, You will expeditiously repair the damage. If the damage or repair requires closing the Unit, You will immediately notify FUA in writing, and will: A. Relocate the Unit as provided in Subsection 13.1 or B. Repair or rebuild the Unit in accordance with FUA then existing standards and general specifications, and reopen the Unit for continuous business operations as soon as practicable (but in any event within 12 months after closing the Unit), giving FUA 30 days' advance notice of the date of reopeningthe damage, destruction or Taking. 11.4. If Upon damage or destruction to the Unit is Building or the Demised Premises or upon a Taking thereof which does not (orresult in termination, Basic Rent and all other payments and charges payable by Tenant hereunder shall xxxxx as of the date of the occurrence, or in the opinion case of FUA canpartial damage, destruction or Taking which does not be) reopened in accordance with this Section, or relocated pursuant cause Tenant to Subsection 13.1discontinue use of the Demised Premises as contemplated herein, the Franchise will terminate upon notice to YouBasic Rent and all other payments and charges shall be equitably apportioned. 13.3 The Term will not 11.5. Nothing contained herein shall be extended by any interruption deemed or construed to prevent Tenant from asserting and prosecuting a claim for the value of its leasehold estate, its leasehold improvements or moving and related costs in the Unit's operations, except for an act event of God that results in the Unit being closed not less than 60 days nor more than 180 daysany Taking. You must apply for any extension within 30 days following the reopening of the Unit. No event during the Term will excuse You from paying Franchise Fees or Advertising Fees as provided in this Agreement.ARTICLE 12

Appears in 1 contract

Samples: Governmental Real Estate Lease

Condemnation and Casualty. 13.1 You 12.1. If there is any damage to or destruction of the Building, the Demised Premises or any portions thereof, or if any proceedings or negotiations are instituted which do or may result in a taking by condemnation or eminent domain (“Taking”), each party will promptly advise FUA upon Your receipt of a give notice of default thereof to the other, describing the nature and extent thereof. 12.2. If the restoration, replacement or termination under Your lease or mortgage, and will promptly provide FUA a copy rebuilding of the notice. You will also give FUA notice of any proposed taking of Building or the Unit Demised Premises or any portion thereof through as nearly as practicable to its value, condition and character immediately prior to any damage, destruction or Taking (“Restoration”) can be completed within ninety (90) days after the exercise occurrence, Tenant may elect to either (a) terminate the Lease immediately upon providing notice to Landlord or (b) allow Landlord to commence and complete Restoration of the power of eminent domain at Building and the earliest possible timeDemised Premises. 12.3. If Tenant elects to allow Landlord to Commence and complete Restoration of the Unit or a substantial part thereof is Building and the Demised Premises and Restoration cannot be completed within ninety (90) days after the occurrence, then Tenant may terminate this Lease by notice to be taken, Landlord given within ten (10) days following the Unit may be relocated within earlier to occur of (a) the area specified in Exhibit Adate the Restoration should have been completed, or elsewhere with FUA written approval in accordance with our relocation procedures. If You open a new Unit at another location in accordance with FUA standards and general specifications (b) the date on which Landlord advises Tenant that the Restoration cannot be completed within one year ninety (90) days of the closing of the old Unitoccurrence, the new Unit will whereupon Basic Rent, Building Operating Cost and all other payments by Tenant hereunder shall be deemed to be the Unit licensed under this Agreement. If a condemnation, lease termination or mortgage default takes place and a new Unit does not, for any reason, become the Unit apportioned as provided in this Subsection then the Franchise will terminate upon notice by FUA. 13.2 If the Unit is damaged, You will expeditiously repair the damage. If the damage or repair requires closing the Unit, You will immediately notify FUA in writing, and will: A. Relocate the Unit as provided in Subsection 13.1 or B. Repair or rebuild the Unit in accordance with FUA then existing standards and general specifications, and reopen the Unit for continuous business operations as soon as practicable (but in any event within 12 months after closing the Unit), giving FUA 30 days' advance notice of the date of reopeningthe damage, destruction or Taking. 12.4. If Upon damage or destruction to the Unit is Building or the Demised Premises or upon a Taking thereof which does not (orresult in termination, Basic Rent, Building Operating Cost and all other payments and charges payable by Tenant hereunder shall xxxxx as of the date of the occurrence, or in the opinion case of FUA canpartial damage, destruction or Taking which does not be) reopened in accordance with this Section, or relocated pursuant cause Tenant to Subsection 13.1discontinue use of the Demised Premises as contemplated herein, the Franchise will terminate upon notice to YouBasic Rent, Building Operating Cost and all other payments and charges shall be equitably apportioned. 13.3 The Term will not 12.5. Nothing contained herein shall be extended by any interruption deemed or construed to prevent Tenant from asserting and prosecuting a claim for the value of its leasehold estate, its leasehold improvements or moving and related costs in the Unit's operations, except for an act event of God that results in the Unit being closed not less than 60 days nor more than 180 days. You must apply for any extension within 30 days following the reopening of the Unit. No event during the Term will excuse You from paying Franchise Fees or Advertising Fees as provided in this AgreementTaking.

Appears in 1 contract

Samples: Governmental Real Estate Lease

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Condemnation and Casualty. 13.1 You will promptly advise FUA upon Your receipt of a notice of default or termination under Your lease or mortgage, and will promptly provide FUA a copy of the notice. You will also 14.1 The Franchisee shall give FUA KFC notice of any proposed taking of the Unit or any portion thereof through the exercise of the power of eminent domain domain, at the earliest possible time. If the Unit Outlet or a substantial part thereof is to be taken, the Unit Outlet may be relocated within the area specified in Exhibit A, subsection 3.5 or elsewhere with FUA KFC's written approval in accordance with our KFC's relocation procedures. If You open such relocation is authorized by KFC and the Franchisee opens a new Unit outlet at another such other location in accordance with FUA standards and general KFC's specifications within one year of the closing of the old Unitoutlet, the new Unit outlet will thenceforth be deemed to be the Unit Outlet licensed under this Agreement. If such a condemnation, lease termination or mortgage default condemnation takes place and a new Unit Outlet does not, for any whatever reason, become the Unit as provided Outlet under this agreement in strict accordance with this Subsection paragraph, then the Franchise will License shall terminate forthwith upon notice thereof by FUAKFC to the Franchisee. 13.2 14.2 If the Unit Outlet is damageddamaged by fire or other casualty, You the Franchisee will expeditiously repair the damage. If the damage or repair requires closing the UnitOutlet, You the Franchisee will immediately notify FUA in writingKFC, and will: A. Relocate the Unit as provided in Subsection 13.1 or B. Repair will repair or rebuild the Unit Outlet in accordance with FUA then existing standards and general KFC's specifications, and will reopen the Unit Outlet for continuous business operations as soon as practicable (but in any event within 12 months one year after closing of the Unitoutlet), giving FUA 30 days' KFC advance notice of the date of reopening. If the Unit Outlet is not (or, in the opinion of FUA cannot be) reopened in accordance with this Section, or relocated pursuant to Subsection 13.1paragraph, the Franchise License will terminate upon notice to Youforthwith terminate. 13.3 14.3 The License Term will shall not be extended by any interruption in the UnitOutlet's operations, operations except for by an act of God that results in the Unit Outlet being closed not less than 60 days nor more than 180 365 days. You Franchisee must apply for any such extension within 30 sixty (60) days following the reopening of the UnitOutlet. No Except as provided in subsection 8.1, no event during the License Term will shall excuse You the Franchisee from paying Franchise Fees royalties or Advertising Fees minimum royalties as provided in this Agreementherein.

Appears in 1 contract

Samples: Franchise Agreement (Marcus Corp)

Condemnation and Casualty. 13.1 16.1 You will promptly advise FUA Franchisor upon Your your receipt of a notice of default or termination under Your your lease or mortgage, and will promptly provide FUA Franchisor a copy of the notice. You will also give FUA Franchisor notice of any proposed taking of the Unit Outlet or any portion thereof through the exercise of the power of eminent domain at the earliest possible time. If the Unit Outlet or a substantial part thereof is to be taken, the Unit Outlet may be relocated within the area specified in Exhibit A, or elsewhere with FUA Franchisor's written approval in accordance with our relocation procedures. If You you open a new Unit outlet at another location in accordance with FUA Franchisor's standards and general specifications within one year of the closing of the old UnitOutlet, the new Unit Outlet will be deemed to be the Unit Outlet licensed under this Agreement. If a condemnation, lease termination or mortgage default takes place and a new Unit Outlet does not, for any reason, (other than those specified in Section 9) become the Unit Outlet as provided in this Subsection then the Franchise License will terminate upon notice by FUAFranchisor. 13.2 16.2 If the Unit Outlet is damaged, You you will expeditiously repair the damage. If the damage or repair requires closing the UnitOutlet, You you will immediately notify FUA Franchisor in writing, and will: A. Relocate the Unit Outlet as provided in Subsection 13.1 or 16.1; or B. Repair or rebuild the Unit Outlet in accordance with FUA Franchisor's then existing standards and general specifications, and reopen the Unit Outlet for continuous business operations as soon as practicable (but in any event within 12 months after closing the UnitOutlet), giving FUA Franchisor 30 days' advance notice of the date of reopening. If the Unit Outlet is not (or, in the opinion of FUA Franchisor cannot be) reopened in accordance with this Section, or relocated pursuant to Subsection 13.116.1, the Franchise License will terminate upon notice to Youyou. 13.3 16.3 The License Term will not be extended by any interruption in the UnitOutlet's operations, except for an act of God that results in the Unit Outlet being closed not less than 60 days nor more than 180 days. You must apply for any extension within 30 days following the reopening of the UnitOutlet. No Except as provided in Subsection 4.3, no event during the License Term will excuse You you from paying Franchise Royalty Fees or Advertising Fees as provided in this Agreement.

Appears in 1 contract

Samples: Franchise Agreement (Superiorclean Inc)

Condemnation and Casualty. 13.1 You (A) Except as hereinafter provided, if any of the Improvements shall be damaged or destroyed by fire or any other casualty covered by a standard policy of fire and extended coverage insurance, as required pursuant to Section 4.5 hereof, Lessee shall thereafter commence and diligently prosecute to completion, at Lessee's sole expense, the repair or rebuilding of the Improvements or portion thereof which was damaged, in a good and workmanlike manner, in accordance with plans and specifications satisfactory to Lessee and Lessor, which Lessor shall not unreasonably disapprove, provided that the Improvements upon completion of such repair or rebuilding shall have a value which is not substantially less than the value of the Improvements immediately prior to the damage or destruction. All proceeds remaining after payment of the costs of collection and recovery, if any ("Net Proceeds") shall be paid over to Lessee to fund the costs of repair and rebuilding. (B) In the event that either (i) the damage or destruction with respect to any building ("Building") which is a part of the Improvements is so extensive that it cannot be rebuilt, restored or repaired as required in Paragraph (a) of this Section 12.1 within 120 days after such occurrence, as determined by Lessee in its reasonable judgment or (ii) any such damage or destruction occurs during the last two years of the Primary Term, or the last two years of any Extended Term, then Lessee shall have the right to terminate this Lease with respect to the damaged or destroyed Building, but no other part of the Premises, by giving written notice thereof to Lessor within 60 days after the occurrence of such damage or destruction and such termination will be effective retroactively as of the date of such damage or destruction; provided that, if the Building which suffered such damage or destruction is the main hospital building located on Tract 1 of the Premises, then Lessee shall have the right to terminate this Lease by giving written notice thereof to Lessor within 60 days after the occurrence of such damage or destruction and such termination will be effective retroactively as of the date of such damage or destruction. In addition, if any Building is materially damaged or destroyed by any casualty not covered by the standard policy of fire and extended coverage insurance, then Lessee may terminate this Lease effective as of the date of such damage or destruction by giving the other party written notice thereof within 60 days after the occurrence of such damage or destruction. If Lessee exercises its option to terminate this Lease in part on account of damage or destruction to a Building, the parties shall promptly advise FUA upon Your receipt thereafter execute an amendment to this lease which shall provide that such Building will be excised from the Premises, and that Rent will be proportionately and equitably reduced. In the event of a notice termination of default this Lease, either in whole or termination under Your lease or mortgagein part, and will promptly provide FUA a copy pursuant to Section 12.l(b), the Net Proceeds of insurance shall be paid over to Lessor, except that Lessee shall be entitled to receive such portion of such proceeds which represents the amount allocable to the value of the notice. You will also give FUA notice of any proposed taking of leasehold improvements made by Lessee and Lessee's Personal Property. (A) If (i) the Unit or any portion thereof through the exercise of Premises are taken by an entity with the power of eminent domain at ("Condemning Authority") or if the earliest possible time. Premises are conveyed to a Condemning Authority by a negotiated sale, or if part of the Premises is so taken or conveyed such that any of the Improvements cannot be rebuilt so that upon completion Lessee may again use the Premises without substantial interference, or (ii) due to any such taking or conveyances, access to the Premises or any part thereof by motor vehicles and trucks as operated by Lessee, its contractors, employees, patients and invitees in the course of Lessee's business as theretofore conducted, is substantially impaired or terminated; then in any such event, Lessee may terminate this Lease by giving Lessor written notice any time after the occurrence of any of the foregoing and such termination shall be effective 60 days from the date possession is taken by the Condemning Authority. (B) If part of the Unit Premises or any Building or a substantial part thereof is so taken or conveyed without substantially interfering with the use of the Premises as a whole, but only one or more of the Buildings thereon, this Lease shall not terminate, except to the extent hereinafter provided. In such event, however, (i) Lessee shall have the option to terminate this Lease in respect to any Building which is subject to such taking or conveyance by notifying within 60 days after the title is transferred to the Condemning Authority, and Lessor shall be entitled to all awards and payments made or to be takenmade by the Condemning Authority, and (ii) if Lessee exercises such termination option, Lessor shall apply such portions of any award or payment made to Lessor for such taking or conveyance as is necessary to pay the Unit may be relocated within cost of restoring the area specified in Exhibit A, or elsewhere with FUA written approval in accordance with our relocation proceduresBuilding and/or the Premises to a complete architectural unit suitable for Lessee's use and business on the Premises. If You open Lessee exercises its option to terminate this Lease in part on account of a new Unit at another location in accordance with FUA standards and general specifications within one year taking or conveyance of the closing of the old Unit, the new Unit will be deemed to be the Unit licensed under this Agreement. If a condemnation, lease termination Building or mortgage default takes place and a new Unit does not, for any reason, become the Unit substantial part thereof as provided in clause (i) above, the parties shall promptly thereafter execute an amendment to this Subsection then Lease which shall provide that the Franchise Building will terminate upon notice by FUAbe excised from the Premises, and that Rent will be proportionately and equitably reduced. 13.2 If the Unit is damaged, You will expeditiously repair the damage. If the damage or repair requires closing the Unit, You will immediately notify FUA in writing, and will: A. Relocate the Unit (C) Except as provided below and in Subsection 13.1 Paragraph (b) of this Section 12.2, all payments made for any such taking or B. Repair or rebuild conveyance shall be the Unit in accordance with FUA then existing standards and general specificationsproperty of Lessor; provided, and reopen the Unit for continuous business operations as soon as practicable (but however, Lessor shall have no interest in any event award or payment or any portion of any such award or payment which is attributable to the taking or conveyance of any trade fixtures, equipment and other personal property that have been placed on or within 12 months after closing the Unit)Premises by Lessee since the Commencement Date or any leasehold improvements made by Lessee since the Commencement Date, giving FUA 30 days' advance notice all of which shall be paid to Lessee. (D) If this Lease is terminated pursuant to this Section 12, Lessor and Lessee shall be released and discharged from all liabilities arising or accruing under this Lease subsequent to the effective date of reopening. If the Unit is not (or, in the opinion of FUA cannot be) reopened in accordance with this Section, or relocated pursuant to Subsection 13.1, the Franchise will terminate upon notice to Youtermination. 13.3 The Term will not be extended by any interruption in the Unit's operations, except for an act of God that results in the Unit being closed not less than 60 days nor more than 180 days. You must apply for any extension within 30 days following the reopening of the Unit. No event during the Term will excuse You from paying Franchise Fees or Advertising Fees as provided in this Agreement.

Appears in 1 contract

Samples: Lease Agreement (Province Healthcare Co)

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