Damage; Destruction and Eminent Domain. If, during the term of this Agreement, the Project Facilities or any portion thereof is destroyed or damaged in whole or in part by fire or other casualty, or title to, or the temporary use of, the Project Facilities or any portion thereof shall have been taken by the exercise of the power of eminent domain, the Company (unless it shall have exercised its option to prepay the Loan Payments pursuant to Section 6.2 hereof) shall promptly repair, rebuild or restore the portion of the Project Facilities so damaged, destroyed or taken with such changes, alterations and modifications (including the substitution and addition of other property) as may be necessary or desirable for the administration and operation of the Project Facilities as Air Quality Facilities and as shall not impair the character or significance of the Project Facilities as furthering the purposes of the Act.
Damage; Destruction and Eminent Domain. If, prior to payment in full of the Project Loan, the Project or any portion thereof is destroyed or damaged in whole or in part by fire or other casualty, or title to, or the temporary use of, the Project or any portion thereof shall have been taken by the exercise of the power of eminent domain, and the Governmental Lender, the Borrower, the Fiscal Agent or the Servicer receives Net Proceeds from insurance or any condemnation award in connection therewith, such Net Proceeds shall be utilized as provided in the Project Loan Documents and the Funding Loan Agreement.
Damage; Destruction and Eminent Domain. If, during the term of this Agreement, the Project Facilities or any portion thereof is destroyed or damaged in whole or in part by fire or other casualty, or title to, or the temporary use of, the Project Facilities or any portion thereof shall have been taken by the exercise of the power of eminent domain, and the Company or the Company Mortgage Trustee receives net proceeds from insurance or any condemnation award in connection therewith, the Company (unless it shall have exercised its option to prepay the Loan Payments pursuant to Section 6.2 hereof), to the extent required to comply with applicable laws and regulations with respect to the operations of facilities of the Company served by the Projects, shall promptly cause such net proceeds or an amount equal thereto to be used to repair, rebuild or restore the portion of the Project Facilities so damaged, destroyed or taken with such changes, alterations and modifications (including the substitution and addition of other property) as may be necessary or desirable for the administration and operation of the Project Facilities as Air Quality Facilities and as shall not impair the character or significance of the Project Facilities as furthering the purposes of the Act. It is hereby acknowledged and agreed that any net proceeds from insurance or any condemnation award relating to the Project Facilities are subject to the lien of the Company Mortgage and shall be disposed of in accordance with the terms and provisions of the Company Mortgage and that any obligations of the Company under this Section 5.7 not satisfied by application of such net proceeds shall be limited to the general credit of the Company and does not require disposition of such net proceeds contrary to the requirements of the Company Mortgage.
Damage; Destruction and Eminent Domain. If, prior to payment in full of the Bonds, the Project or any portion thereof is destroyed or damaged in whole or in part by fire or other casualty, or title to, or the temporary use of, the Project or any portion thereof shall have been taken by the exercise of the power of eminent domain, and the Issuer, the Borrower, the Trustee receives Net Proceeds from insurance or any condemnation award in connection therewith, such Net Proceeds shall be utilized, after satisfaction of all payment requirements of the Senior Loan Documents, as provided in the Junior Loan Documents and the Indenture.
Damage; Destruction and Eminent Domain. Section 5.8 Company to Maintain its Corporate Existence; Conditions Under Which Exceptions Permitted Section 5.9 Indemnification Section 5.10 Company Not to Adversely Affect Exclusion of Interest on Bonds From Gross Income For Federal Income Tax Purposes Section 5.11 Use of Project Facilities Section 5.12 Assignment by Company
Damage; Destruction and Eminent Domain. (a) If, prior to the Date of Closing, the Parcel or any part thereof is damaged or destroyed by fire, the elements or any other destructive force or cause to the extent that repairing such damage or destruction is reasonably estimated to cost Two Hundred Fifty Thousand and 00/100 Dollars ($250,000.00) or more, then, within a reasonable time of any such damage or destruction, Seller shall give a written notice to Buyer specifying the insurance carrier's estimate of the amount of insurance payable as the result of such damage or destruction. Within ten (10) business days after Buyer has received the written notice described in the preceding sentence, Buyer may elect to terminate this Agreement by delivery of written notice to Seller. If Buyer elects to consummate the purchase despite the damage or destruction, or if any lesser damage or destruction has occurred, there shall be no reduction in or abatement of the Purchase Price, and the parties shall treat such casualty damage as having occurred during the term of the Lease.
Damage; Destruction and Eminent Domain a. If, prior to closing, the Property or any part thereof be destroyed or further damaged by fire, the elements, or any cause, due to events occurring subsequent to the date of this Agreement, this Agreement shall become null and void, at Buyer's option exercised, if at all, by written notice to Seller within ten (10) days after Buyer has received written notice from Seller of said destruction or damage. Seller, however, shall have the right to adjust or settle any insured loss until (i) all contingencies set forth in Paragraph 6 hereof have been satisfied, or waived; and (ii) any ten-day period provided for above in this Subparagraph 16a for Buyer to elect to terminate this Agreement has expired or Buyer has, by written notice to Seller, waived Buyer's right to terminate this Agreement. If Buyer elects to proceed and to consummate the purchase despite said damage or destruction, there shall be no reduction in or abatement of the purchase price, and Seller shall assign to Buyer the Seller's right, title, and interest in and to all insurance proceeds resulting from said damage or destruction to the extent that the same are payable with respect to damage to the Property, and are so payable to Seller under the Caribou Coffee Lease.
Damage; Destruction and Eminent Domain. If, prior to full payment of all Bonds outstanding (or provision for payment thereof having been made in accordance with the provisions of the Indenture), the Project or any portion thereof is destroyed or damaged in whole or in part by fire or other casualty, or title to, or the temporary use of, the Project or any portion thereof shall have been taken by the exercise of the power of eminent domain, all Net Proceeds from any insurance policy or any kind of condemnation awards in connection therewith shall be applied pursuant to the provisions of the Reimbursement Agreement and the Mortgage. ARTICLE VI
Damage; Destruction and Eminent Domain. USE OF PROCEEDS;
Damage; Destruction and Eminent Domain. SECTION 10.1 - FIRE, EXPLOSION OR OTHER CASUALTY In the event the Leased Premises are damaged by fire, explosion or any other casualty and this Lease is not terminated as hereafter provided, then, subject to the other provisions of this Lease, the damage shall be diligent repaired by Landlord; provided, however, that in no event shall Landlord be required to repair or replace Tenant's stock, fixtures, furniture, furnishings, floor coverings, equipment or the like, or alterations or additions to the Leased Premises made by Tenant. In the event of any such damage and (a) if the Leased Premises shall be damaged to the extent of fifty percent (50%) or more of the cost of replacement, (b) if the Building is damaged to the extent of twenty-five percent (25%) or more of the cost of replacement, or (c) if the casualty shall render the Leased Premises untenantable and the damage cannot in Landlord's judgment be repaired within forty-five (45) days after the happening thereof, then Landlord may terminate this Lease by written notice to Tenant. If any such damage cannot be repaired within one hundred eighty (180) days after the occurrence thereof, then Landlord shall so notify Tenant within forty-five (45) days after the occurrence thereof and either party may terminate this Lease by written notice to the other given if at all within ten (10) days thereafter. In the event of any such termination, all obligations of the parties shall cease as of the date of occurrence of casualty, including the obligation to pay rent and other charges. The cost of replacement for purposes hereof shall be determined by a licensed architect selected by Landlord. If the repair of Leased Premises is not substantially completed within a period of one hundred eighty (180) days after the date of the occurrence of such damage (as extended by delays of the nature described in Section 18.7) then Landlord or Tenant may terminate this Lease by written notice to the other party given within five (5) days after the expiration of such one hundred eighty (180) day period. If such casualty shall render the Leased Premises or any portion thereof untenantable, then the Base Rent and Additional Rent shall be abated as hereinafter set forth. Any abatement of rent hereunder shall be on a per diem basis in an amount bearing the same ratio to such rent for the period of untenantability as the untenantable portion of the Leased Premises bears to the entire Leased Premises.
