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

FIRE OR CASUALTY OR EMINENT DOMAIN. In the event of a fire or other casualty affecting the Building or the Premises, or of a taking of all or a part of the Building or Premises under the power of eminent domain, Subtenant shall promptly notify Sublandlord thereof in writing. If Sublandlord receives a rent abatement under the Prime Lease as a result of a fire or other casualty or as a result of a taking under the power of eminent domain, then Subtenant shall be entitled to the Sublease Share of such rent abatement unless the effect on the Premises of such fire or other casualty or such taking shall be substantially disproportionate to the amount of the abatement, in which event the parties shall equitably adjust the abatement as between themselves, based on the relative impact of the fire or other casualty, or the taking, as the case may be. To the extent the Prime Lease gives Sublandlord the right to terminate the Prime Lease in the event of damage or destruction to the Building or the Premises or a taking of all or part thereof by eminent domain, Sublandlord may, in its sole discretion, exercise any such right and shall notify Subtenant of such exercise, in which case this Sublease shall terminate five (5) days prior to the date of termination of the Prime Lease. In addition, if the Premises cannot be made tenantable within 240 days after the date of the fire or other casualty or if all or part of the Premises is taken by condemnation, then Subtenant shall have the same right to terminate this Sublease that Sublandlord has to terminate the Prime Lease under Section 11.2

Appears in 1 contract

Samples: Sublease (Epocrates Inc)

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FIRE OR CASUALTY OR EMINENT DOMAIN. In the event of a fire or other casualty affecting the Building or the Premises, or of a taking of all or a part of the Building or Premises under the power of eminent domain, Sublandlord shall not exercise any right which may have the effect of terminating the Prime Lease without first obtaining the prior written consent of Subtenant which shall not be unreasonably withheld, conditioned or delayed. In the event that Sublandlord has the right to terminate the Prime Lease due to a fire or other casualty affecting the Premises, or of a taking of all or a part of the Building or Premises under the power of eminent domain, Subtenant shall promptly notify have the same right as Sublandlord thereof in writing. If Sublandlord receives a rent abatement under the Prime Lease to terminate this Sublease. Further, in the event Sublandlord is entitled, under the Prime Lease, to a rent abatement as a result of a fire or other casualty or as a result of a taking under the power of eminent domain, then Subtenant shall be entitled to the Sublease Share of such same rent abatement unless the effect on applicable to the Premises (i.e., if 50% of such fire or other casualty or such taking Sublandlord’s Rent payable to Prime Landlord with respect to the Premises is abated, then 50% of Subtenant’s Rent payable under this Sublease shall be substantially disproportionate abated; provided, however, if a greater portion of the Premises is taken as compared to the Property, then such percentage shall be increased in proportion to the amount of the abatement, in which event the parties shall equitably adjust the abatement as between themselves, based on the relative impact of the fire or other casualty, or the taking, as the case may bePremises taken). To the extent If the Prime Lease gives imposes on Sublandlord the right obligation to terminate the Prime Lease in the event repair or restore leasehold improvements or alterations, Subtenant shall be responsible for repair or restoration of damage leasehold improvements or destruction alteration. Subtenant shall make any insurance proceeds resulting from a loss which Sublandlord is obligated to the Building repair or restore available to Sublandlord and shall permit Sublandlord to enter the Premises or a taking of all or part thereof by eminent domainto perform the same, Sublandlord may, in its sole discretion, exercise any subject to such right and shall notify conditions as Subtenant of such exercise, in which case this Sublease shall terminate five (5) days prior to the date of termination of the Prime Lease. In addition, if the Premises cannot be made tenantable within 240 days after the date of the fire or other casualty or if all or part of the Premises is taken by condemnation, then Subtenant shall have the same right to terminate this Sublease that Sublandlord has to terminate the Prime Lease under Section 11.2may reasonably impose.

Appears in 1 contract

Samples: Sublease (La Jolla Pharmaceutical Co)

FIRE OR CASUALTY OR EMINENT DOMAIN. In the event of a fire or other casualty affecting the Building Building, the Prime Lease Premises or the Premises, or of a taking of all or a part of the Building Building, the Prime Lease Premises or Premises under the power of eminent domain, Sublandlord shall have the right, in its sole and absolute discretion, to exercise any right which Sublandlord may have under the Prime Lease, including, without limitation, any right that will have the effect of terminating the Prime Lease, and Subtenant hereby consents to, and Subtenant shall promptly notify cooperate with Sublandlord thereof in writingin, the exercise of any such right. If In the event Sublandlord receives is entitled, under the Prime Lease, to a rent abatement under the Prime Lease as a result of a fire or other casualty or as a result of a taking under the power of eminent domain, then Subtenant shall be entitled to the Sublease Share its equitable share of such rent abatement unless the effect on the Premises of such fire or other casualty or such taking shall be substantially disproportionate to the amount of the abatement, in which event the parties shall equitably adjust the abatement as between themselves, based on the relative impact of the fire or other casualty, or the taking, as the case may be. To the extent If the Prime Lease gives imposes on Sublandlord the obligation to repair or restore leasehold improvements or alterations, Subtenant shall be responsible for repair or restoration of leasehold improvements or alterations to the Premises, unless Sublandlord caused the damage. Subtenant shall make any insurance proceeds resulting from the loss which Sublandlord is obligated to repair or restore available to Sublandlord and shall permit Sublandlord to enter the Premises to perform the same. In the event Sublandlord is entitled, under the Prime Lease, to terminate the Prime Lease as a result of a fire, other casualty or taking, then Subtenant shall be entitled to terminate this Sublease, even if Sublandlord declines to exercise its right to terminate the Prime Lease in the event of damage or destruction to the Building or the Premises or a taking of all or part thereof by eminent domain, Sublandlord may, in its sole discretion, exercise any such right and shall notify Subtenant of such exercise, in which case this Sublease shall terminate five (5) days prior to the date of termination of the Prime Lease. In addition, if the Premises cannot be made tenantable within 240 days after the date of the fire or other casualty or if all or part of the Premises is taken by condemnation, then Subtenant shall have the same right to terminate this Sublease that Sublandlord has to terminate the Prime Lease under Section 11.2.

Appears in 1 contract

Samples: Sublease Agreement (Medivation, Inc.)

FIRE OR CASUALTY OR EMINENT DOMAIN. In the event of a fire or other casualty affecting the Building or the Premises, or of a taking of all or a part of the Building or Premises under the power of eminent domain, Subtenant shall promptly notify Sublandlord thereof in writing. If Sublandlord receives a rent abatement is entitled under the Prime Lease to a rent abatement as a result of a fire or other casualty or as a result of a taking under the power of eminent domain, then Subtenant shall be entitled in each event to the Sublease Share of such rent abatement unless extent affecting the effect on the Premises of such fire or other casualty or such taking shall be substantially disproportionate to the amount of the abatementPremises, in which event the parties shall equitably adjust the abatement as between themselves, based on the relative impact impact, if any, of the fire or other casualty, casualty or the taking, as the case may be. To , on the extent the Prime Lease gives Sublandlord the right to terminate the Prime Lease in the event Premises and on other areas of damage or destruction to the Building or the Premises or a taking of all or part thereof by eminent domain, Sublandlord may, in its sole discretion, exercise any such right and shall notify Subtenant of such exercise, in which case this Sublease shall terminate five (5) days prior subject to the date of termination of the Prime Lease. In addition, if If (a) the Premises cannot be made tenantable within 240 days after the date of the fire or other casualty Building are substantially damaged by fire, or if (b) all or part of the Premises or Building are taken and in either case (i) the Prime Lease is taken not terminated as a result thereof, (ii) such damage or taking shall materially interfere with Subtenant’s use of or access to the Premises and (iii) such damage is not repaired within the applicable periods set forth in the Prime Lease, Subtenant may terminate this Sublease to the same extent as afforded to Sublandlord under the applicable provision of the Prime Lease. Further and without limitation, if the Premises or Building are substantially damaged by condemnationfire such that there is material interference with Tenant’s use or of access to the Premises and the necessary repairs and restoration for which Sublandlord and Prime Landlord are responsible will not reasonably be completed within one year from the date of damage (as reasonably estimated by Sublandlord’s professional architect or construction manager), or if the damage occurs within the last year of the Term of this Sublease and the anticipated repair time for repairs Sublandlord and/or Prime Landlord are obligated to make is greater than fifty percent (50.0%) of then then-remaining Term, then Subtenant shall have the same right to may terminate this Sublease by written notice to Sublandlord within thirty (30) days following such fire or casualty (but not thereafter). To the extent that Sublandlord has to terminate the Prime Lease requires that any damage be repaired or restored by the Tenant under Section 11.2the Prime Lease, such repairs shall be the responsibility of the Sublandlord hereunder (except as to Alterations or improvements made by Subtenant hereunder). Any notice to terminate shall be given no later than ten (10) business days after the date by which the damage was required to be repaired. If Subtenant shall give such notice, then this Sublease shall terminate on the date specified in the notice with the same force and effect as if such date were the date originally established as the expiration date hereof.

Appears in 1 contract

Samples: Sublease (Chiasma, Inc)

FIRE OR CASUALTY OR EMINENT DOMAIN. In the event of a fire or other casualty affecting the Building or the Premises, or of a taking of all or a part of the Building or Premises under the power of eminent domain, Subtenant Tenant shall promptly notify Sublandlord Landlord thereof in writing. If Sublandlord Landlord receives a rent abatement under the Prime Lease as a result of a fire or other casualty or as a result of a taking under the power of eminent domain, then Subtenant Tenant shall be entitled to the Sublease Share of such rent abatement unless the effect on the Premises of such fire or other casualty or such taking shall be substantially disproportionate to the amount of the abatement, in which event the parties shall equitably adjust the abatement as between themselves, based on the relative impact of the fire or other casualty, or the taking, as the case may be. To the extent the Prime Lease gives Sublandlord Landlord the right to terminate the Prime Lease in the event of damage or destruction to the Building or the Premises or a taking of all or part thereof by eminent domain, Sublandlord Landlord may, in its sole discretion, exercise any such right and shall notify Subtenant Tenant of such exercise, in which case this Sublease shall terminate five (5) days one day prior to the date of termination of the Prime Lease. In addition, if the Premises cannot be made tenantable within 240 days after the date of the fire or other casualty or if all or part of the Premises is taken by condemnation, then Subtenant shall have the same right to terminate this Sublease that Sublandlord has to terminate If the Prime Lease under Section 11.2imposes on Landlord the obligation to repair or restore leasehold improvements or alterations in the Premises, Tenant shall be responsible for repair or restoration of such leasehold improvements or alterations.

Appears in 1 contract

Samples: Consent Request (ACA Capital Holdings Inc)

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FIRE OR CASUALTY OR EMINENT DOMAIN. In the event of a fire or other casualty affecting the Building or the Sublease Premises, or of a taking of all or a part of the Building or Sublease Premises under the power of eminent domain, Subtenant Sublandlord shall promptly notify not exercise any right which may have the effect of terminating the Master Sublease without first obtaining the prior written consent of Subtenant. In the event Sublandlord thereof in writing. If Sublandlord receives is entitled, under the Master Sublease, to a rent abatement under the Prime Lease as a result of a fire or other casualty or as a result of a taking under the power of eminent domain, then Subtenant shall be entitled to the Sublease Share of such rent abatement unless the effect on the Sublease Premises of such fire or other casualty or such taking shall be substantially disproportionate to the amount of the abatement, in which event the parties shall equitably adjust the abatement as between themselves, based on the relative impact of the fire or other casualty, or the taking, as the case may be. To If the extent Master Sublease imposes on Sublandlord or Master Sublandlord, or the Prime Master Lease gives imposes on Master Landlord, the obligation to repair or restore leasehold improvements or alterations, Subtenant shall make any insurance proceeds resulting from the loss which Sublandlord, Master Sublandlord or Master Landlord or Master Landlord is obligated to repair or restore available to such party and shall permit such party to enter the Sublease Premises to perform the same. Subtenant shall have the right to terminate the Prime Lease in the event Sublease as a result of damage a casualty or destruction condemnation only to the Building or extent Sublandlord has the Premises or a taking of all or part thereof by eminent domain, Sublandlord may, in its sole discretion, exercise any such right and shall notify Subtenant of such exercise, in which case this Sublease shall terminate five (5) days prior to the date of termination of the Prime Lease. In addition, if the Premises cannot be made tenantable within 240 days after the date of the fire or other casualty or if all or part of the Premises is taken by condemnation, then Subtenant shall have the same right to terminate this the Master Sublease that Sublandlord has to terminate the Prime Lease under Section 11.2as a result of such event.

Appears in 1 contract

Samples: Sub Sublease Agreement (Remedy Corp)

FIRE OR CASUALTY OR EMINENT DOMAIN. In the event of a fire or other casualty affecting the Building Sub-lease Premises, or the PremisesLeased Properties, or of a taking of all or a part of the Building Sub leased Premises or Premises the Leased Properties under the power of eminent domain, Subtenant Landlord shall promptly notify Sublandlord thereof in writingnot exercise any right which may have the effect of terminating the Prime Lease without first obtaining the prior written consent of Tenant. If Sublandlord receives In the event Landlord is entitled, under the Prime Lease, to a rent abatement under the Prime Lease as a result of a fire or other casualty or as a result of a taking under the power of eminent domain, then Subtenant Tenant shall be entitled to the Sublease Share of such rent abatement unless the effect on the Sub-leased Premises of such fire or other casualty or such taking shall be substantially disproportionate to the amount of the abatement, in which event the parties shall equitably adjust the abatement as between themselves, based on the relative impact of the fire or other casualty, or the taking, as the case may be. To the extent If the Prime Lease gives Sublandlord imposes on Landlord the right obligation to terminate the Prime Lease repair or restore leasehold improvements or alterations, Tenant shall be responsible for repair or restoration of leasehold improvements or alterations it shall have installed in the event Sub leased Premises, and Landlord shall be responsible for the repair or restoration of damage the balance of the leasehold improvements or destruction alterations; Tenant shall make any insurance proceeds resulting from the loss which Landlord is obligated to the Building repair or the Premises or a taking of all or part thereof by eminent domain, Sublandlord may, in its sole discretion, exercise any such right restore available to Landlord and shall notify Subtenant of permit Landlord to enter the Sub-leased Premises to perform the same, subject to such exercise, in which case this Sublease shall terminate five (5) days prior to the date of termination of the Prime Lease. In addition, if the Premises cannot be made tenantable within 240 days after the date of the fire or other casualty or if all or part of the Premises is taken by condemnation, then Subtenant shall have the same right to terminate this Sublease that Sublandlord has to terminate the Prime Lease under Section 11.2conditions as Tenant may reasonably impose.

Appears in 1 contract

Samples: Purchase Agreement (Stockgroup Information Systems Inc)

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