Common use of Continuance of Lease Clause in Contracts

Continuance of Lease. In the event of any damage to the Leased Premises by fire or other casualty, this Lease shall not be terminated or otherwise affected; except that, if more than twenty-five percent (25%) of the square footage of the Leased Premises shall be damaged by any such fire or other casualty during the last three (3) years of the term of this Lease (not including any option or renewal periods) or during any renewal or extension of the term hereof and the cost of repair or restoration exceeds Ten Thousand Dollars ($10,000.00) as estimated by Landlord, or if Landlord is unable to rebuild any portion of the building in which the Leased Premises are located or of the Shopping Center due to any inability to obtain any required governmental approval in connection therewith, or if more than thirty-five percent (35%) of the floor area of the building in which the Leased Premises are located or of the Shopping Center shall be damaged or destroyed by fire or other casualty, or if all or any part of the building in which the Leased Premises are located or if the Shopping Center or the Leased Premises shall be damaged or destroyed at any time by the occurrence of any risk not insured under the insurance required to be carried under Article VIII hereof, then Landlord shall have the option to terminate this Lease within ninety (90) days following the occurrence of such fire or other casualty by giving written notice to Tenant during such period. In the event Landlord exercises any of the foregoing options to terminate, this Lease shall immediately terminate upon Landlord's written notice to Tenant and (a) the entire proceeds of the insurance provided for in Section 8.1 hereof shall be paid by the insurance company or companies directly to Landlord and shall belong to, and be the sole property of Landlord, (b) the portion of the proceeds of the insurance provided for in Section 8.2 which is allocable to equipment, fixtures and other items, which, by the terms of the Lease, rightfully belongs to Landlord upon the termination of the Lease by whatever cause, shall be paid by the insurance company or companies directly to Landlord, and shall belong to, and be the sole property of Landlord, and (c) Landlord and Tenant shall be relieved from any and all further liability or obligation occurring under this Lease from and after the date of such termination. Tenant hereby waives any and all rights which it may have to terminate this Lease by reason of damage to the Leased Premises by fire or other casualty pursuant to any presently existing or hereafter enacted statute or pursuant to any other law.

Continuance of Lease. In the event of any damage to the Leased Premises by fire or other casualty, this Lease shall not be terminated or otherwise affected; except that, (a) if more than twenty-five percent (25%) of the square footage of the Leased Premises shall be damaged by any such fire or other casualty during the last three (3) years of the term Term of this Lease (not including any option or renewal periodsOption Periods) or during any renewal or extension of the term Term hereof and the cost of repair or restoration exceeds Ten Thousand and 00/100ths Dollars ($10,000.00) as estimated by Landlord, or (b) if Landlord is unable to rebuild any portion of the building in which the Leased Premises are located or of the Shopping Center due to any inability to obtain any required governmental approval in connection therewith, or (c) if more than thirty-five percent (35%) of the floor area of the building in which the Leased Premises are located or of the Shopping Center shall be damaged or destroyed by fire or other casualty, or (d) if all or any part of the building in which the Leased Premises are located or if the Shopping Center or the Leased Premises shall be damaged or destroyed at any time by the occurrence of any risk not insured under the insurance required to be carried under Article VIII hereof, then Landlord shall have the option to terminate this Lease within ninety (90) days following the occurrence of such fire or other casualty by giving written notice to Tenant during such period. In the event Landlord exercises any of the foregoing options to terminate, this Lease shall immediately terminate upon Landlord's written notice to Tenant and (ai) the entire proceeds of the insurance provided for in Section 8.1 hereof shall be paid by the insurance company or companies directly to Landlord and shall belong to, and be the sole property of Landlord, (bii) the portion of the proceeds of the insurance provided for in Section 8.2 which is allocable to equipment, fixtures and other items, which, by the terms of the this Lease, rightfully belongs belong to Landlord upon the termination of the this Lease by whatever cause, shall be paid by the insurance company or companies directly to Landlord, and shall belong to, and be the sole property of of, Landlord, and (ciii) Landlord and Tenant shall be relieved from any and all further liability or obligation occurring accruing under this Lease from and after the date of such termination. Tenant hereby waives any and all rights which it may have to terminate this Lease by reason of damage to the Leased Premises by fire or other casualty pursuant to any presently existing or hereafter enacted statute or pursuant to any other lawTENANT HEREBY WAIVES ANY AND ALL RIGHTS WHICH IT MAY HAVE TO TERMINATE THIS LEASE BY REASON OF DAMAGE TO THE LEASED PREMISES BY FIRE OR OTHER CASUALTY PURSUANT TO ANY PRESENTLY EXISTING OR HEREAFTER ENACTED STATUTE OR PURSUANT TO ANY OTHER LAW.

Continuance of Lease. In the event of any damage to the Leased Premises by fire or other casualty, this Lease shall not be terminated or otherwise affected; except that, if more than twenty-five fifty percent (2550%) of the square footage of the Leased Premises shall be damaged by any such fire or other casualty during the last three (3) years of the term Term of this Lease (not including any option or renewal periods) or during any renewal or extension of the term hereof and the cost of repair or restoration exceeds Ten Thousand Dollars ($10,000.00) as estimated by LandlordTerm hereof, or if Landlord is unable to rebuild any portion of the building in which the Leased Premises are located or of the Shopping Center due to any inability to obtain any required governmental approval in connection therewith, or if more than thirtytwenty-five percent (3525%) of the floor area of the building in which the Leased Premises are located or of the Shopping Center shall be damaged or destroyed by fire or other casualty, or if all or any part of the building in which the Leased Premises are located or if of the Shopping Center or the Leased Premises shall be damaged or destroyed at any time by the occurrence of any risk not insured under the insurance required to be carried under Article VIII hereofIX above, or if for any reason whatsoever sufficient insurance proceeds are not available, then Landlord shall have the option to terminate this Lease within ninety (90) days following the occurrence of such fire or other casualty by giving written notice to Tenant during such period. In the event Landlord exercises any of the foregoing options to terminate, this Lease shall immediately terminate upon Landlord's written notice to Tenant and (a) the entire proceeds of the insurance provided for in Section 8.1 hereof 9.1 above shall be paid by the insurance company or companies directly to Landlord Landlord, and shall belong to, and be the sole property of of, Landlord, ; (b) the portion of the proceeds of the insurance provided for in Section 8.2 9.2 which is allocable to equipment, fixtures and other items, items which, by the terms of the this Lease, rightfully belongs belong to Landlord upon the termination of the this Lease by whatever cause, shall be paid by the insurance company or companies directly to Landlord, and shall belong to, and be the sole property of of, Landlord, ; and (c) Landlord and Tenant shall be relieved from any and all further liability or obligation occurring accruing under this Lease from and after the date of such termination. Tenant hereby waives any and all rights which it may have to terminate this Lease by reason of damage to the Leased Premises by fire or other casualty pursuant to any presently existing or hereafter enacted statute or pursuant to any other law.

Continuance of Lease. In the event of any damage to the Leased Premises by fire or other casualty, (a) Landlord may terminate this Lease shall not be terminated or otherwise affected; except that, if more upon written notice to Tenant under the following circumstances: (1) More than twenty-five percent (25%) % of the square footage of the Leased Premises shall be is damaged by any such fire or other casualty during the last three (3) years of the term of this Lease (not including any option or renewal periods) or during any renewal or extension of the term hereof Term and the cost of repair or restoration repair, in the Landlord's estimate, exceeds Ten Thousand Dollars $25,000. Tenant may avoid termination under this subsection if it has an option to renew the term and it notifies the Landlord within ten ($10,000.0010) as estimated by days of the date of Landlord, or if 's notice of termination that it chooses to exercise that option; (2) Landlord is unable to rebuild any damaged portion of the building in which the Leased Premises are located or of the Shopping Center due to any inability to because it cannot obtain any required governmental approval in connection therewith, or if more to rebuild; (3) More than thirty-five percent (35%) % of the floor area of the building in which the Leased Premises are located or square footage of the Shopping Center shall be is damaged or destroyed by fire or other casualty, ; or (4) All or if all or any part of the building in which the Leased Premises are located or if the Shopping Center or the Leased Premises shall be is damaged or destroyed at any time by the occurrence of any a risk not insured under covered by the insurance required to be carried under Article VIII hereof, then 10. (b) Should Landlord shall have the option choose to terminate this Lease pursuant to this section, it shall give written notice to Tenant within ninety (90) days following after the occurrence of such fire damage occurs or other casualty by giving written notice Landlord determines it cannot obtain governmental approval to Tenant during such period. In the event Landlord exercises any rebuild, whichever is later. (c) Upon termination of the foregoing options Lease pursuant to terminate, this Lease shall immediately terminate upon Landlord's written notice to Tenant and section: (a1) the entire proceeds of the insurance provided for in Section 8.1 hereof 10.01 shall be paid by the insurance company or companies directly to Landlord and shall belong to, and be the sole property of to Landlord, ; (b2) the portion of the proceeds of the insurance provided for in Section 8.2 which 10.02 that is allocable to equipment, fixtures and other items, which, by items and that belong to the terms of the Lease, rightfully belongs to Landlord upon the termination of this Lease under the terms of the Lease by whatever cause, shall be paid by the insurance company or companies directly to Landlord and shall belong to Landlord, and any balance of the proceeds shall belong to, and be the sole property of Landlord, and paid to Tenant; and (c3) Landlord and Tenant shall be relieved from any and all further liability or obligation occurring accruing under this Lease from and after the date of such the termination. . (d) Tenant hereby waives any and all rights which that it may have pursuant to law to terminate this Lease by reason of damage to the Leased Premises by fire or other casualty pursuant to any presently existing and agrees that the provisions of this article shall control in the event of fire or hereafter enacted statute or pursuant to any other lawcasualty.

Continuance of Lease. In the event of any damage to the Leased Premises by fire or other casualty, this Lease shall not be terminated or otherwise affected; except that, (a) if more than twenty-five percent (25%) of the square footage of the Leased Premises shall be damaged by any such fire or other casualty during the last three (3) years of the term Term of this Lease (not including any option or renewal periodsOption Periods) or during any renewal or extension of the term Term hereof and the cost of repair or restoration exceeds Ten Thousand One Million and 00/100ths Dollars ($10,000.001,000,000.00) as estimated by Landlord, or (b) if Landlord is unable to rebuild any portion of the building in which the Leased Premises are located or of the Shopping Center due to any inability (after Landlord uses commercially reasonable efforts) to obtain any required governmental approval in connection therewith, or (c) if more than thirty-five percent (35%) of the floor area of the building in which the Leased Premises are located or of the Shopping Center shall be damaged or destroyed by fire or other casualty, or (d) if all twenty-five percent (25%) or any part more of the building in which the Leased Premises are located or if twenty-five percent (25%) or more of the Shopping Center or the Leased Premises shall be damaged or destroyed at any time by the occurrence of any risk not insured under the insurance required to be carried under Article VIII hereof, then Landlord shall have the option to terminate this Lease within ninety seventy-five (9075) days following the occurrence of such fire or other casualty by giving written notice to Tenant during such period. In the event Landlord exercises any of the foregoing options to terminate, this Lease shall immediately terminate upon Landlord's written notice to Tenant and (ai) the entire proceeds of the insurance provided for in Section 8.1 hereof shall be paid by the insurance company or companies directly to Landlord and shall belong to, and be the sole property of Landlord, (bii) the portion of the proceeds of the insurance provided for in Section 8.2 which is allocable to equipment, fixtures and other items, which, by the terms of the this Lease, rightfully belongs belong to Landlord upon the termination of the this Lease by whatever cause, shall be paid by the insurance company or companies directly to Landlord, and shall belong to, and be the sole property of of, Landlord, and (ciii) Landlord and Tenant shall be relieved from any and all further liability or obligation occurring accruing under this Lease from and after the date of such termination. Tenant hereby waives any and all rights which it may have to terminate this Lease by reason of damage to the Leased Premises by fire or other casualty pursuant to any presently existing or hereafter enacted statute or pursuant to any other law.

Continuance of Lease. In the event of any damage to the Leased Premises by fire or other casualty, this Lease shall not be terminated or otherwise affected; except that, (a) if more than twenty-five percent (25%) of the square footage of the Leased Premises shall be damaged by any such fire or other casualty during the last three (3) years of the term Term of this Lease (not including any option or renewal periodsOption Periods) or during any renewal or extension of the term Term hereof and the cost of repair or restoration exceeds Ten Thousand and 00/100ths Dollars ($10,000.00) as estimated by Landlord, or (b) if Landlord is unable to rebuild any portion of the building in which the Leased Premises are located or of the Shopping Center due to any inability to obtain any required governmental approval in connection therewith, or (c) if more than thirty-five percent (35%) of the floor area of the building in which the Leased Premises are located or of the Shopping Center shall be damaged or destroyed by fire or other casualty, or (d) if all or any part of the building in which the Leased Premises are located or if the Shopping Center or the Leased Premises shall be damaged or destroyed at any time by the occurrence of any risk not insured under the insurance required to be carried under Article VIII hereof, then Landlord shall have the option to terminate this Lease within ninety (90) days following the occurrence of such fire or other casualty by giving written notice to Tenant during such period. In the event Landlord exercises any of the foregoing options to terminate, this Lease shall immediately terminate upon Landlord's written notice to Tenant and (ai) the entire proceeds of the insurance provided for in Section 8.1 hereof shall be paid by the insurance company or companies directly to Landlord and shall belong to, and be the sole property of Landlord, (bii) the portion of the proceeds of the insurance provided for in Section 8.2 which is allocable to equipment, fixtures and other items, which, by the terms of the this Lease, rightfully belongs belong to Landlord upon the termination of the this Lease by whatever cause, shall be paid by the insurance company or companies directly to Landlord, and shall belong to, and be the sole property of of, Landlord, and (ciii) Landlord and Tenant shall be relieved from any and all further liability or obligation occurring accruing under this Lease from and after the date of such termination. Tenant hereby waives any and all rights which it may have to terminate this Lease by reason of damage to the Leased Premises by fire or other casualty pursuant to any presently existing or hereafter enacted statute or pursuant to any other law. The provisions of this Lease constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Leased Premises or any other portion of the Shopping Center, and Landlord and Tenant agree that Sections 1932 and 1933(4) of the California Civil Code shall have no application to this Lease or any damage or destruction to all or any part of the Leased Premises or any other portion of the Shopping Center.