Condemnation, Damage or Destruction. In the event the Parking Facility is the subject of a Condemnation, or is damaged or destroyed, and this Lease is not terminated, and if in such event the available number of parking spaces in the Parking Facility is permanently reduced, then Tenant's rights to use parking spaces hereunder may, at the election of Landlord, thereafter be reduced in proportion to the reduction of the total number of parking spaces in the Parking Facility. In such event, Landlord reserves the right to reduce the number of parking spaces to which Tenant is entitled or to relocate some or all of the parking spaces to which Tenant is entitled to other areas in the Parking Facility.
Condemnation, Damage or Destruction. Until the Closing, the risk of loss or damage to the Property by fire or other casualty or its taking or damage by condemnation shall be retained by Seller. If any Material Loss, as hereafter defined, occurs prior to the Closing, then Purchaser shall have the option of (i) terminating this Agreement, in which event this Agreement shall be terminated with neither party having any rights against the other, or (ii) accepting the Property and being assigned the right to collect any insurance or condemnation proceeds. If, prior to the Closing, all or any material part of the Property shall be condemned by governmental or other lawful authority (as determined by Purchaser in its reasonable discretion), Purchaser shall have the option of (a) completing the purchase and being assigned the right to collect any insurance or condemnation proceeds, or (b) terminating this Agreement, in which event this Agreement shall be terminated with neither party having any rights against the other. In the event of any immaterial casualty or condemnation (not qualifying as a Material Loss) regarding any portion of the Property, Purchaser shall be obligated to purchase the Property for the Purchase Price and be assigned the right to collect any insurance or condemnation proceeds. The term “Material Loss” shall mean any loss or damage to the Property in an amount which equals or exceeds One Hundred Thousand and 00/100 Dollars ($100,000.00) (as determined by Purchaser in its reasonable discretion).
Condemnation, Damage or Destruction. Secti-on 10.1
Condemnation, Damage or Destruction. In the event the Parking ----------------------------------- Facility is the subject of a Condemnation, or is damaged or destroyed, and this Lease is not terminated, and if in such event the available number of parking spaces in the Parking Facility is permanently reduced, then Tenant's rights to use parking spaces hereunder may, at the election of Landlord, thereafter be reduced in proportion to the reduction of the total number of parking spaces in the Parking Facility, and the Monthly Parking Rental payable hereunder shall be reduced proportionately. In such event, Landlord reserves the right to reduce the number of parking spaces to which Tenant is entitled or to relocate some or all of the parking spaces to which Tenant is entitled to other areas in the Parking Facility.
Condemnation, Damage or Destruction. In the event the Parking Facility is the subject of a Condemnation, or is damaged or destroyed, and this Lease is not terminated, and if in such event the available number of parking spaces in the Parking Facility is permanently reduced, then Tenant’s rights to use parking spaces hereunder may, at the election of Landlord, thereafter be reduced in proportion to the reduction of the total number of parking spaces in the Parking Facility, and the Monthly Parking Rental payable hereunder shall be reduced proportionately. In such event, Landlord reserves the right to reduce the number of parking spaces to which Tenant is entitled or to relocate some or all of the parking spaces to which Tenant is entitled to other areas in the Parking Facility. Landlord agrees to locate alternative parking within a reasonable distance of the Project if, following any condemnation of the Parking Facility, Tenant’s proportionate share of the parking spaces will result in Tenant losing its permit to conduct its particular business in the Premises.
Condemnation, Damage or Destruction. In the event the parking garage at the Building is the subject of a Condemnation, or is damaged or destroyed, and this Lease is not terminated, and if in such event the available number of parking spaces in the parking garage at the Building is permanently reduced, then Tenant’s rights to use parking spaces hereunder may, at the election of Landlord, thereafter be reduced in proportion to the reduction of the total number of parking spaces in the parking garage at the Building, and the Monthly Parking Rental payable hereunder shall be reduced proportionately. In such event, Landlord reserves the right to reduce the number of parking spaces to which Tenant is entitled or to relocate some or all of the parking spaces to which Tenant is entitled to other areas in the parking garage at the Building.
Condemnation, Damage or Destruction. If all or any part of the Property is condemned, damaged or destroyed prior to the Closing Date, Purchaser shall have the option of terminating this Agreement. In the event of such termination, Seller shall repay all sums theretofore paid by Purchaser; providing, however, that if Seller shall have in force and collectible sufficient fire and extended coverage insurance to cover any such damage or destruction of the Property, and the proceeds of such insurance shall be paid to Purchaser, then Purchaser may elect to continue this Agreement in full force and effect.
Condemnation, Damage or Destruction. In the event the Parking Facility is the subject of a condemnation, or is damaged or destroyed, and this Lease is not terminated, and if in such event the available number of parking spaces in the Parking Facility is permanently reduced, then Tenant's rights to use parking passes for the parking spaces hereunder may, at the election of Landlord, thereafter be reduced in proportion to the reduction of the total number of parking passes for parking spaces in the Parking Facility, and the monthly parking rental payable hereunder shall be reduced proportionately. In such event, Landlord and Operator reserve the right to reduce the number of parking passes for parking spaces to which Tenant is entitled or to relocate some or all of the parking spaces to which Tenant is entitled to other areas in the Parking Facility. Landlord or Operator shall have the right to temporarily close the Parking Facility, or certain areas the in order to perform necessary repairs, maintenance and improvements to the Parking Facility. Landlord shall have the right to terminate the right of Tenant to the parking passes at the Parking Facility on thirty (30) days' prior notice to Tenant should Landlord or the owner or Operator of the Parking Facility (as the case may be) cease to own or operate the Parking Facility, or if Landlord or the owner of the Parking Facility (as the case may be) decides to remodel, remove, demolish or redevelop the Parking Facility or any substantial portion thereof.
Condemnation, Damage or Destruction. In the event the Parking Facility is the subject of a Condemnation, or is damaged or destroyed, and this Lease is not terminated, and if in such event the available number of parking spaces in the Parking Facility is permanently reduced, then Tenant's rights to use parking spaces hereunder may, at the election of Landlord, thereafter be reduced in proportion to the reduction of the total number of parking spaces in the Parking Facility. In such event, Landlord reserves the right to reduce the number of parking spaces to which Tenant is entitled or to relocate some or all of the parking spaces to which Tenant is entitled to other areas in the Parking Facility. INITIALS: Landlord Tenant INDEX OF DEFINED TERMS Additional Rent 6 Alterations 10 Award 17 Base Operating Costs 4 Base Taxes 4 Broker 29 Building 3 Building Rules 27 Building Systems 8 Business Days 12 Business Hours 12 Claims 13 Commencement Date 3 Condemnation 17 Condemnor 17 Construction Rider 3 Controls 12 Date of Condemnation 18 Encumbrance 25 Environmental Losses 8 Environmental Requirements 8 Event of Default 21 Existing Lease 3 Existing Premises 3 Expansion Premises 3 Expiration Date 3 Fees 26 Handled by Tenant 8 Handling by Tenant 8 Hazardous Materials 8 HVAC 8 Interest Rate 23 Landlord 3 Laws 4 Mortgagee 25 Operating Costs 4 Parking Facility 3 Permitted Hazardous Materials 9 Premises 3 Project 3 Property 3 Property Manager 14 Proposed Transferee 19 Rent 7 Rental Tax 12 Representatives 8 Scheduled Commencement Date 3 Security Deposit 7 Service Failure 13 Substantially Completed 3 Taxes 5 Tenant 3 Tenant Delay 3 Tenant Improvements 10 Tenant's Share 5 Tenant's Taxes 12 Term 3 Trade Fixtures 11 Transfer 19 Transferee 20 Visitors 8 THIS FIRST AMENDMENT TO LEASE (this "Amendment") is made and entered into as of the 11th day of March, 2002, by and between EOP XXXXX RANCH, LLC, a Delaware limited liability company ("Landlord"), and ENRG FUEL USA, INC., a California corporation, and ENRG, INC., a Delaware corporation (jointly, severally, individually and collectively, "Tenant").
Condemnation, Damage or Destruction
