Common use of Continuance of Lease Clause in Contracts

Continuance of Lease. This Lease shall continue in full force and effect upon the following terms: (i) All Rental and other Monetary Obligations due under this Lease shall continue unabated. (ii) Tenant shall promptly commence and diligently prosecute restoration of such Property to the same condition, as nearly as practicable, as prior to such Partial Condemnation or Casualty as approved by Landlord. Upon the written request of Tenant (accompanied by evidence reasonably satisfactory to Landlord that such amount has been paid or is due and payable and is properly part of such costs, and that Tenant has complied with the terms of Section 7.02 in connection with the restoration), Landlord shall promptly make available in installments to pay or reimburse Tenant for the costs of the restoration, subject to reasonable conditions for disbursement consistent with typical and customary construction disbursement requirements imposed by construction lenders, an amount up to but not exceeding the amount of any Net Award received by Landlord with respect to such Partial Condemnation or Casualty. Prior to the disbursement of any portion of the Net Award with respect to a Casualty, Tenant shall provide evidence reasonably satisfactory to Landlord of the payment of restoration costs by Tenant up to the amount of the insurance deductible or retention applicable to such Casualty and any amount by which the remaining unpaid costs of the restoration (as reasonably estimated by Tenant to the satisfaction of Landlord and Lender) exceed the remaining undisbursed portion of the Net Award. Landlord shall be entitled to keep any portion of the Net Award which may be in excess of the cost of restoration and Tenant shall bear all additional Costs of such restoration in excess of the Net Award.

Continuance of Lease. This If Landlord elects not to terminate this Lease, or if Landlord elects to terminate this Lease with respect to such portion of the Leased Premises but Tenant elects to continue this Lease with respect to such portion of the Leased Premises, then this Lease shall continue in full force and effect upon the following terms: (i) All Rental Rent and other Monetary Obligations due under this Lease shall continue unabated. (ii) Tenant shall promptly commence and diligently prosecute restoration of such Property portion of the Leased Premises to the same condition, as nearly as practicable, as prior to such Partial Condemnation or Casualty as approved by Landlord. Upon Subject to the terms and provisions of any mortgages and upon the written request of Tenant (accompanied by evidence reasonably satisfactory to Landlord that such amount has been paid or is due and payable and is properly part of such costs, and that Tenant has complied with the terms of Section 7.02 Article 7 in connection with the restoration), Landlord shall promptly make available in installments to pay or reimburse Tenant for the costs of the restorationinstallments, subject to reasonable conditions for disbursement consistent with typical and customary construction disbursement requirements imposed by construction lendersLandlord, an amount up to but not exceeding the amount of any Net Award (after deducting all costs incidental to the collection of the Net Award) received by Landlord with respect to such Partial Condemnation or Casualty. Prior to the disbursement of any portion of the Net Award with respect to a Casualty, Tenant shall provide evidence reasonably satisfactory to Landlord of the payment of funds available to Tenant to pay restoration costs by Tenant expenses (a) up to the amount of the insurance deductible or retention applicable to such Casualty and any amount by (b) which the remaining unpaid costs are in excess of the restoration (as reasonably estimated by Tenant to the satisfaction of Landlord and Lender) exceed the remaining undisbursed portion amount of the Net Award. Landlord shall be entitled to keep any portion of the Net Award which may be in excess of the cost of restoration restoration, and Tenant shall bear all additional Costs of such restoration in excess of the Net Award.

Continuance of Lease. This If Landlord elects not to terminate this Lease, or if Landlord elects to terminate this Lease with respect to such Property but Tenant elects to continue this Lease with respect to such Property, then this Lease shall continue in full force and effect upon the following terms: (i) All Rental and other Monetary Obligations due under this Lease shall continue unabated. (ii) Tenant shall promptly commence and diligently prosecute restoration of such Property to the same condition, as nearly as practicable, as prior to such Partial Condemnation or Casualty as reasonably approved by Landlord. Upon Subject to the terms and provisions of the Mortgages and upon the written request of Tenant (accompanied by evidence reasonably satisfactory to Landlord that such amount has been paid or is due and payable and is properly part of such costs, and that Tenant has complied with the terms of Section 7.02 8.02 in connection with the restoration), Landlord shall promptly make available in installments to pay or reimburse Tenant for the costs of the restorationinstallments, subject to reasonable conditions for disbursement consistent with typical and customary construction disbursement requirements imposed by construction lendersLandlord, an amount up to but not exceeding the amount of any Net Award (after deducting all Costs incidental to the collection of the Net Award) received by Landlord with respect to such Partial Condemnation or Casualty. Prior to the disbursement of any portion of the Net Award with respect to a Casualty, Tenant shall provide evidence reasonably satisfactory to Landlord of the payment of funds available to Tenant to pay restoration costs by Tenant expenses (a) up to the amount of the insurance deductible or retention applicable to such Casualty and any amount by (b) which the remaining unpaid costs are in excess of the restoration (as reasonably estimated by Tenant to the satisfaction of Landlord and Lender) exceed the remaining undisbursed portion amount of the Net Award. Landlord shall be entitled to keep any portion of the Net Award which may be in excess of the cost of restoration restoration, and Tenant shall bear all additional Costs of such restoration in excess of the Net Award.

Continuance of Lease. This Lease shall continue in full force and effect upon the following terms: (i) All Rental and other Monetary Obligations due under this Lease shall continue unabatedunabated (provided, however, that the parties acknowledge that business interruption insurance proceeds, including Rental Value Insurance proceeds, payable to and received by Lessor shall be applied towards Lessee’s Rental obligations). (ii) Tenant If the Partial Condemnation or Casualty occurs prior to the Occupancy Date, Lessor shall promptly commence and diligently prosecute restoration of such the Property, and continue to move forward with its obligations under Section 7.03 above, provided, however, that the time periods set forth in Section 7.03 shall be appropriately extended following any Casualty or Partial Condemnation. Lessor shall be entitled to keep any portion of the Net Award which may be in excess of the cost of restoration. (iii) If the Partial Condemnation or Casualty occurs following the Occupancy Date, Lessee shall promptly commence and diligently prosecute restoration of the Property to the same condition, as nearly as practicable, as prior to such the Partial Condemnation or Casualty as approved by LandlordLessor. Upon Subject to the terms and provisions of the Mortgage and upon the written request of Tenant Lessee (accompanied by evidence reasonably satisfactory to Landlord Lessor that such amount has been paid or is due and payable and is properly part of such costs, and that Tenant Lessee has complied with the terms of Section 7.02 in connection with the restoration), Landlord Lessor shall promptly make available in installments to pay or reimburse Tenant for the costs of the restorationinstallments, subject to reasonable conditions for disbursement consistent with typical and customary construction disbursement requirements imposed by construction lendersLessor, an amount up to but not exceeding the amount of any Net Award received by Landlord Lessor with respect to such Partial Condemnation or Casualty. Prior to the disbursement of any portion of the Net Award with respect to a Casualty, Tenant Lessee shall provide evidence reasonably satisfactory to Landlord Lessor of the payment of restoration costs expenses by Tenant Lessee up to the amount of the insurance deductible or retention applicable to such Casualty and any amount by which the remaining unpaid costs of the restoration (as reasonably estimated by Tenant to the satisfaction of Landlord and Lender) exceed the remaining undisbursed portion of the Net AwardCasualty. Landlord Lessor shall be entitled to keep any portion of the Net Award which may be in excess of the cost of restoration restoration, and Tenant Lessee shall bear all additional Costs of such restoration in excess of the Net Award.