Common use of FIRE, CASUALTY, EMINENT DOMAIN Clause in Contracts

FIRE, CASUALTY, EMINENT DOMAIN. Should a substantial portion of the Premises, or of the property of which they are a part, be substantially damaged by fire or other casualty, or be taken by eminent domain, the LESSOR may elect to terminate this lease. When such fire, casualty, or taking renders the Premises substantially unsuitable for their intended use, a just and proportionate abatement of rent shall be made, and the LESSEE may elect to terminate this lease if: (a) The LESSOR fails to give written notice within thirty (30) days of the event of its intention to restore Premises, or (b) The LESSOR fails to restore the Premises to a condition substantially suitable for their intended use within ninety (90) days of said fire, casualty or taking, as such date may be extended ninety (90) days if LESSOR is diligently working to restore the Premises and extended an additional ninety (90) days for force majeure. LESSOR reserves, and the LESSEE grants the LESSOR, all rights which the LESSEE may have for damages or injury to the Premises for any taking by eminent domain, except for damage to the LESSEE'S fixtures, property, or equipment.

Appears in 1 contract

Samples: Commercial Lease (Exchange Applications Inc)

AutoNDA by SimpleDocs

FIRE, CASUALTY, EMINENT DOMAIN. Should any portion of the Premises or a substantial portion of the Premises, or of the property Building of which they are a part, part or any portion of the Critical Common Areas (defined in Schedule C) be substantially damaged by fire or other casualty, or be taken by eminent domain, the LESSOR Lessor may elect to terminate this leaseLease. When such fire, casualty, or taking renders unreasonably interferes with the Premises substantially unsuitable for their intended useuse of the Premises, a just and proportionate abatement of rent shall be made, effective, in the case of fire or casualty, as of the date thereof and the LESSEE Lessee may elect to terminate this lease Lease if: (a) The LESSOR Lessor fails to give written notice within thirty (30) days of the event after such fire, casualty or taking of its intention to restore Premises, the Premises and the Critical Common Areas in accordance with (b) below; or (b) The LESSOR Lessor fails to restore the Premises to a condition substantially suitable for their intended use within ninety (90) days of said after such fire, casualty or taking to restore the Premises and the Critical Common Areas as nearly as reasonably possible to the condition the same were in immediately prior to the fire, casualty or taking, as such date may be extended ninety (90) days if LESSOR is diligently working to restore the Premises and extended an additional ninety (90) days for force majeure. LESSOR The Lessor reserves, and the LESSEE Lessee grants to the LESSORLessor, all rights which the LESSEE Lessee may have for damages or injury to the Premises for any taking by eminent domain, except for damage to the LESSEE'S Lessee's fixtures, property, or equipment.

Appears in 1 contract

Samples: Lease Agreement (Dragon Systems Inc)

FIRE, CASUALTY, EMINENT DOMAIN. Should a substantial portion (50% or more) of the Leased Premises, or of the property of which they are a part, part be substantially damaged by fire or other casualty, or be taken by eminent domain, the LESSOR either party may elect to terminate this lease. When , When, through no -fault of the LESSEE, such fire, casualty, or taking renders the Leased Premises substantially unsuitable unsuitable, in whole or part, for their intended use, a just and proportionate abatement of rent shall shalt be made, and the LESSEE may elect to terminate this lease if:; (a) The LESSOR fails to give written notice within thirty (30) days of the event of its intention to restore Leased Premises, or (b) The LESSOR fails to restore the Leased Premises to a condition substantially suitable for their intended use within ninety (90) days of said fire, casualty or taking. If neither party terminates pursuant to this Article 18, as such date may be extended ninety (90) days if LESSOR is diligently working to shall restore the Leased Premises and extended an additional ninety (90) days for force majeureto the condition they were in prior to the casualty. The LESSOR reserves, reserves and the LESSEE grants to the LESSOR, all rights which the LESSEE may have for damages or injury to the Leased Premises for any taking by eminent domain, except for damage to the LESSEE'S ’S fixtures, property, property or equipment.

Appears in 1 contract

Samples: Sublease Agreement (Gi Dynamics, Inc.)

AutoNDA by SimpleDocs

FIRE, CASUALTY, EMINENT DOMAIN. Should a substantial portion of the Premises, or of the property of which they are a part, be substantially damaged by fire or other casualty, or be taken by eminent domain, the LESSOR may elect to terminate this leaseSublease. When such fire, casualty, or taking renders the Premises substantially unsuitable for their intended use, a just and proportionate abatement of rent shall be made, and the LESSEE may elect to terminate this lease Sublease if: (a) The LESSOR fails to give written notice within thirty (30) days of the event of its intention to restore Premises, or (b) The LESSOR fails to restore the Premises to a condition substantially suitable for their intended use within ninety seventy-five (9075) days of said fire, casualty casualty, or taking, as such date may be extended ninety or (90c) days if LESSOR is diligently working to restore If said fire, casualty, or taking happens within nine (9) months of the Premises and extended an additional ninety (90) days for force majeureexpiration date. The LESSOR reserves, and the LESSEE grants to the LESSOR, all rights which the LESSEE may have for damages or injury to the Premises for any taking by eminent domain, except for damage to the LESSEE'S 's fixtures, property, or equipment. The LESSOR shall have the right voluntarily to elect to demolish the Building of which the Premises are a part, or any part thereof, provided it gives LESSEE at least one (1) year prior termination notice, after which this Sublease shall terminate and be of no further recourse to either party hereto.

Appears in 1 contract

Samples: Sublease Agreement (Asa International LTD)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!