Common use of Minor Restorations Clause in Contracts

Minor Restorations. If the estimated cost of restoration is less than $1,000,000, and if prior to commencement of restoration, no Event of Default or event which would constitute an Event of Default pursuant to which Landlord is taking action to take possession of the Premises or to terminate this Lease shall exist and no mechanics’ or materialmen’s liens shall have been filed and remain undischarged, and if the architects, contracts, contractors, plans and specifications for the restoration shall have been approved by Landlord (which approval shall not be unreasonably withheld or delayed), and Landlord shall be provided with reasonable assurance against mechanics’ liens, accrued or incurred, as Landlord or its lenders may reasonably require and such other documents and instruments as Landlord or its lenders may reasonably require, and Tenant shall have procured acceptable performance and payment bonds reasonably acceptable to Landlord in an amount and form, and from a surety, reasonably acceptable to Landlord, and naming Landlord as an additional obligee; then the Restoration Fund shall be made available to Tenant for application to pay the costs of restoration incurred by Tenant and Tenant shall promptly complete such restoration.

Minor Restorations. If (i) the estimated cost of restoration is less than One Million Dollars ($1,000,0001,000,000.00), and if (ii) prior to commencement of restoration, no Event of Default or event which which, with the passage of time, would constitute an Event of give rise to a Default pursuant to which Landlord is taking action to take possession of the Premises or to terminate this Lease shall exist and no mechanics’ or materialmen’s liens shall have been filed and remain undischarged, and if (iii) the architects, contracts, contractors, plans and specifications for the restoration shall have been approved by Landlord (which approval shall not be unreasonably withheld or delayed), and (iv) Landlord shall be provided with reasonable assurance against mechanics’ liens, accrued or incurred, as Landlord or its lenders may reasonably require and such other documents and instruments as Landlord or its lenders may reasonably require, and (v) Tenant shall have procured acceptable performance and payment bonds reasonably acceptable to Landlord in an amount and form, and from a surety, reasonably acceptable to Landlord, and naming Landlord as an additional obligee; then Landlord shall make available that portion of the Restoration Fund shall be made available Insurance Proceeds to Tenant for application to pay the costs of restoration incurred by Tenant and Tenant shall promptly complete such restoration.

Minor Restorations. If (i) the estimated cost of restoration is less than One Million Dollars ($1,000,0001,000,000.00), and if (ii) prior to commencement of restoration, no Event of Default or event which which, with the passage of time, would constitute an Event of give rise to a Default pursuant to which Landlord is taking action to take possession of the Premises or to terminate this Lease shall exist and no mechanics’ ' or materialmen’s 's liens shall have been filed and remain undischarged, and if (iii) the architects, contracts, contractors, plans and specifications for the restoration shall have been approved by Landlord (which approval shall not be unreasonably withheld or delayed), and (iv) Landlord shall be provided with reasonable assurance against mechanics’ ' liens, accrued or incurred, as Landlord or its lenders may reasonably require and such other documents and instruments as Landlord or its lenders may reasonably require, and (v) Tenant shall have procured acceptable performance and payment bonds reasonably acceptable to Landlord in an amount and form, and from a surety, reasonably acceptable to Landlord, and naming Landlord as an additional obligee; then Landlord shall make available that portion of the Restoration Fund shall be made available Insurance Proceeds to Tenant for application to pay the costs of restoration incurred by Tenant and Tenant shall promptly complete such restoration.

Minor Restorations. If (i) the estimated cost of restoration is less than [***] Dollars ($1,000,000[***]), and if (ii) prior to commencement of restoration, no Event of Default or event which which, with the passage of time, would constitute an Event of give rise to a Default pursuant to which Landlord is taking action to take possession of the Premises or to terminate this Lease shall exist and no mechanics’ ' or materialmen’s 's liens shall have been filed and remain undischarged, and if (iii) the architects, contracts, contractors, plans and specifications for the restoration shall have been approved by Landlord (which approval shall not be unreasonably withheld or delayed), and (iv) Landlord shall be provided with reasonable assurance against mechanics’ ' liens, accrued or incurred, as Landlord or its lenders may reasonably require and such other documents and instruments as Landlord or its lenders may reasonably require, and (v) Tenant shall have procured acceptable performance and payment bonds reasonably acceptable to Landlord in an amount and form, and from a surety, reasonably acceptable to Landlord, and naming Landlord as an additional obligee; then Landlord shall make available that portion of the Restoration Fund shall be made available Insurance Proceeds to Tenant for application to pay the costs of restoration incurred by Tenant and Tenant shall promptly complete such restoration.

Minor Restorations. If (i) the estimated cost of restoration is less than One Million Dollars ($1,000,0001,000,000.00), and if (ii) prior to commencement of restoration, no Event of Default or event which which, with the passage of time, would constitute an Event of give rise to a Default pursuant to which Landlord is taking action to take possession of the Premises or to terminate this Lease shall exist and no mechanics’ ' or materialmen’s 's liens shall have been filed and remain undischarged, and if (iii) the architects, contracts, contractors, plans and specifications for the restoration shall have been approved by Landlord (which approval shall not be unreasonably withheld or delayed), and (iv) Landlord shall be provided with reasonable assurance against mechanics’ ' liens, accrued or incurred, as Landlord or its lenders may reasonably require and such other documents and instruments as Landlord or its lenders may reasonably require, and (v) Tenant shall have procured acceptable provided some form of security for the completion of such repair and restoration, whether in the form of performance and payment bonds reasonably acceptable to Landlord in an amount and form, and from a surety, reasonably acceptable to Landlord, and naming Landlord as an additional obligeeobligee or such other form of security (such as a completion guaranty from an acceptable guarantor) reasonably acceptable to Landlord; then Landlord shall make available that portion of the Restoration Fund shall be made available Insurance Proceeds to Tenant for application to pay the costs of restoration incurred by Tenant and Tenant shall promptly complete such restoration.

Minor Restorations. If (i) the estimated cost of restoration is less than One Million Dollars ($1,000,0001,000,000.00), and if prior to commencement of restoration, no Event of Default or event which would constitute an Event of Default pursuant to which Landlord is taking action to take possession of the Premises or to terminate this Lease shall exist and no mechanics’ or materialmen’s liens shall have been filed and remain undischarged, and if (ii) the architects, contracts, contractors, plans and specifications for the restoration shall have been approved by Landlord (which approval shall not be unreasonably withheld or delayed), and (iii) Landlord shall be provided with reasonable assurance against mechanics’ ' liens, accrued or incurred, as Landlord or its lenders may reasonably require and such other documents and instruments as Landlord or its lenders may reasonably require, and (iv) to the extent available to Tenant and requested by Landlord with respect to any amounts to be contributed by Tenant toward the restoration, Tenant shall have procured acceptable performance and payment bonds reasonably acceptable to Landlord in an amount and form, and from a surety, reasonably acceptable to Landlord, and naming Landlord as an additional obligee; then Landlord shall make available that portion of the Restoration Fund shall be made available Insurance Proceeds to Tenant for application to pay the costs of restoration incurred by Tenant and Tenant shall promptly complete such restoration. If Landlord fails to make available such portion of the Insurance Proceeds to Tenant, Tenant’s obligation to repair or rebuild shall terminate and Tenant may terminate this Lease.