Event of Taking. Any event (i) which constitutes a Condemnation of all of, or substantially all of, a Leased Property, or (ii) (A) which would otherwise constitute a Condemnation and (B) which, in the good-faith judgment of Lessee, (1) renders restoration and rebuilding of a Leased Property impossible or impractical, or requires restoration to the related Leased Property that, with the exercise of reasonable diligence, is impossible to complete by the Lease Termination Date or (2) requires repairs to a Leased Property that would cost in excess of 50% of the original cost of such Leased Property, and as to which Lessee has determined not to rebuild shall constitute an “Event of Taking”. Within sixty (60) days after the occurrence of such event, Lessee shall deliver to Lessor an Officer’s Certificate notifying Lessor of such event and, in the case of an event described in the foregoing clause (ii), of Lessee’s determination not to rebuild. In the case of any other event which constitutes a Condemnation, Lessee shall restore and rebuild such Leased Property pursuant to Section 10.4. If an Event of Taking shall occur, Lessee shall pay to Lessor (1) on the earlier of (A) the Lease Termination Date and (B) the next Payment Date occurring not less than thirty (30) days after the occurrence of such Event of Taking, in the case of an Event of Taking described in clause (i) above, or (2) on the earlier of (A) the Lease Termination Date and (B) the next Payment Date occurring not less than thirty (30) days after the delivery of the Officer’s Certificate pursuant to clause (ii) above, in the case of an Event of Taking described in clause (ii) above, an amount equal to the related Leased Property Balance. Upon Lessor’s receipt of such Leased Property Balance on such date, Lessor shall cause Lessor’s interest in such Leased Property, and in all condemnation proceeds related thereto, to be conveyed to Lessee in accordance with and subject to the provisions of Section 14.5 hereof (provided that such conveyance shall be subject to all rights of the condemning authority); upon completion of such purchase, but not prior thereto, this Lease with respect to such Leased Property and all obligations hereunder with respect to such Leased Property shall terminate, except with respect to obligations and liabilities hereunder, actual or contingent, that have arisen or relate to events occurring on or prior to such date of purchase, or which are expressly stated herein to survive termination of this ...
Event of Taking. 14 10.3 Casualty............................................15 10.4 Condemnation........................................15 10.5 Verification of Restoration and Rebuilding..........15 10.6
Event of Taking. If an Event of Taking shall occur during the Base Term, the Lessee shall give the Lessor prompt written notice of such occurrence and the date thereof and the Lessee shall on the next succeeding Payment Date (the “Next Date”) after such Event of Taking shall have occurred or, if such Event of Taking shall have occurred within ten (10) Business Days preceding a Payment Date, then on the next succeeding Payment Date after such Next Date shall have occurred, terminate this Lease and, as compensation for such Event of Taking, pay to the Lessor on such Payment Date the Break Even Price.
Event of Taking. Any event (i) which constitutes a Condemnation of all of, or substantially all of, a Leased Property, or (ii) (A) which would otherwise constitute a Condemnation, (B) which, in the good-faith judgment of Lessee, renders restoration and rebuilding of a Leased Property impossible, impractical or uneconomical, and (C) as to which Lessee, within sixty (60) days after the occurrence of such event, delivers to Lessor an Officer's Certificate notifying Lessor of such event and of such judgment, shall constitute an "Event of Taking". In the case of any other event which constitutes a Condemnation, Lessee shall restore and rebuild such Leased Property pursuant to Section 10.
Event of Taking. Any event (i) which constitutes a Condemnation of all of, or substantially all of, a Leased Property, or (ii) (A) which would otherwise constitute a Condemnation, (B) which, in the good-faith judgment of the related Lessee, renders restoration and rebuilding of a Leased Property impossible or impractical, or requires repairs to a Leased Property that would cost in excess of 50% of the original cost of such Leased Property, and (C) as to which such Lessee, within sixty (60) days after the occurrence of such event, delivers to Lessor an Officer's Certificate notifying Lessor of such event and of such judgment, shall constitute an "Event of Taking". In the case of any other event which constitutes a Condemnation, the related Lessee shall restore and rebuild such Leased Property pursuant to Section 10.
Event of Taking. Upon the occurrence of an Event of Taking with respect to a Qualified MAN or FCL, neither Lessor nor any Participant shall thereafter have any obligation under the Operative Documents to provide any financing with respect to any Systems comprising such Qualified MAN or FCL.
Event of Taking. (a) If an Event of Taking shall occur, Lessee shall give Lessor and Administrative Agent prompt written notice of such occurrence and the date thereof, and Lessee shall purchase all of the Systems subject to the Lease Supplement affected thereby from Lessor on the next succeeding Payment Date after the date on which such Event of Taking shall have occurred at a purchase price equal to the sum of (i) the applicable Lease Supplement Balance plus (ii) ---- all accrued but unpaid Rent, plus (iii) all other sums due and payable by Lessee ---- to Lessor with respect to such Systems under any of the Operative Documents.
Event of Taking. Any event (i) which constitutes a Condemnation of all of, or substantially all of, the Leased Property, or (ii) (A) which would otherwise constitute the Condemnation, (B) which, in the good-faith judgment of Lessee, renders restoration and rebuilding of the Leased Property impossible, impractical or uneconomical, and (C) as to which Lessee, within sixty (60) days after the occurrence of such
Event of Taking. If an Event of Taking shall occur for --------------- the Property, prior to the date title to the Property shall have been conveyed to the condemning authority having jurisdiction thereof, the Lessee shall give the Lessor prompt written notice of such occurrence and the date thereof.
Event of Taking. Any event (i) which constitutes a Condemnation of all of, or substantially all of, a Leased Property, or (ii) (A) which would otherwise constitute a Condemnation and (B) which, in the good-faith judgment of the related Lessee, (1) renders restoration and rebuilding of a Leased Property impossible or impractical, or requires restoration to the related Leased Property that, with the exercise of reasonable diligence, is impossible to complete by the Lease Termination Date or (2) requires repairs to a Leased Property that would cost in excess of 50% of the original cost of such Leased Property, and as to which such Lessee has determined not to rebuild shall constitute an "Event of Taking". Within sixty (60) days after the occurrence of such event, the related Lessee shall deliver to Lessor an Officer's Certificate notifying Lessor of such event and, in the case of an event described in the foregoing clause (ii), of such Lessee's determination not to rebuild. In the case of any other event which constitutes a Condemnation, the related Lessee shall restore and rebuild such Leased Property pursuant to Section 10.
