Common use of Repair and Restoration Clause in Contracts

Repair and Restoration. If Lessee is required to repair and restore the Facility 2 Property following any Material Casualty or any Condemnation, Lessee shall diligently proceed to repair and restore the Facility 2 Property to the condition in which it existed immediately prior to such Material Casualty or such Condemnation and shall complete all such repairs and restoration as soon as reasonably practicable; provided, however, that Lessee shall in any event complete all such repairs and restoration not later than the earlier of (y) six (6) months after the occurrence of the Material Casualty or the Condemnation, and (z) six (6) months prior to the Scheduled Expiration Date unless Lessee currently is exercising either the Term Purchase Option or the Expiration Date Purchase Option. Lessee shall make such repairs using its own funds, except to the extent any Casualty and Condemnation Proceeds are available and are released to Lessee for such purpose pursuant to Subparagraph 3.04

Appears in 1 contract

Samples: Participation Agreement (Novellus Systems Inc)

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Repair and Restoration. If Lessee is required to repair and restore the Facility 2 Property following any Material Casualty or any Condemnation, Lessee shall diligently proceed to repair and restore the Facility 2 Property to the condition in which it existed immediately prior to such Material Casualty or such Condemnation and shall complete all such repairs and restoration as soon as reasonably practicable; provided, however, that Lessee shall in any event complete all such repairs and restoration but not later than the earlier of (y) six (6) months after the occurrence of the Material Casualty or the Condemnation, and (z) six (6) months prior to the Scheduled Expiration Date unless Lessee currently is exercising either the Term Purchase Option or the Expiration Date Purchase Option. In the case of a Casualty or Condemnation occurring during the Construction Period, Lessee shall make such repairs using its own fundsand restoration using, except to the extent available, any Casualty and Condemnation Proceeds that are available and are released to Lessee for such purpose pursuant to Subparagraph 3.043.04(f)

Appears in 1 contract

Samples: Participation Agreement (Novellus Systems Inc)

Repair and Restoration. If Lessee is required to repair and restore the Facility 2 Property following any Material Casualty or any Condemnation, Lessee shall diligently proceed to repair and restore the Facility 2 Property to the condition in which it existed immediately prior to such Material Casualty or such Condemnation and shall complete all such repairs and restoration as soon as reasonably practicable; provided, however, that Lessee shall in any event complete all such repairs and restoration but not later than the earlier of (y) six (6) months after the occurrence of the Material Casualty or the Condemnation, and (z) six (6) months prior to the Scheduled Expiration Date unless Lessee currently is exercising either the Term Purchase Option or the Expiration Date Purchase Option. In the case of a Casualty or Condemnation occurring during the Construction Period, Lessee shall make such repairs using its own fundsand restoration using, except to the extent available, any Casualty and Condemnation Proceeds that are available and are released to Lessee for such purpose pursuant to Subparagraph 3.043.04(f)

Appears in 1 contract

Samples: Participation Agreement (Novellus Systems Inc)

Repair and Restoration. If Lessee is required elects to repair and restore the Facility 2 Property following any Material Casualty or any Condemnation, Lessee shall diligently proceed to obtain all necessary permits and to repair and restore the Facility 2 Property to the condition in which it existed immediately prior to such Material Casualty or such Condemnation and shall use reasonable efforts to complete all such repairs and restoration as soon as reasonably practicable; provided, however, that Lessee shall in any event complete all such repairs and restoration but not later than the earlier of (y) six twelve (612) months after following the occurrence of the Material Casualty or the Condemnation, Condemnation and (z) six (6) months prior to the Scheduled Expiration Date unless Lessee Xxxxxx currently is exercising either the Term Purchase Option or the Expiration Date Purchase Option. Lessee shall use its own funds to make such repairs using its own fundsand restoration, except to the extent any Casualty and Condemnation Proceeds are available and are released to Lessee for such purpose pursuant to Subparagraph 3.04

Appears in 1 contract

Samples: Lease Agreement (Fair Isaac & Company Inc)

Repair and Restoration. If Lessee is required to repair and restore the Facility 2 1 Property following any Material Casualty or any Condemnation, Lessee shall diligently proceed to repair and restore the Facility 2 1 Property to the condition in which it existed immediately prior to such Material Casualty or such Condemnation and shall complete all such repairs and restoration as soon as reasonably practicable; provided, however, that Lessee shall in any event complete all such repairs and restoration not later than the earlier of (y) six (6) months after the occurrence of the Material Casualty or the Condemnation, and (z) six (6) months prior to the Scheduled Expiration Date unless Lessee currently is exercising either the Term Purchase Option or the Expiration Date Purchase Option. Lessee shall make such repairs using its own funds, except to the extent any Casualty and Condemnation Proceeds are available and are released to Lessee for such purpose pursuant to Subparagraph 3.04

Appears in 1 contract

Samples: Participation Agreement (Novellus Systems Inc)

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Repair and Restoration. If Lessee is required elects to repair and restore the Facility 2 Property following any Material Casualty or any Condemnation, Lessee shall diligently proceed to repair and restore the Facility 2 Property to the condition in which it existed immediately prior to such Material Casualty or such Condemnation and shall complete all such repairs and restoration as soon as reasonably practicable; provided, however, that Lessee shall in any event complete all such repairs and restoration but not later than the earlier of (y) six (6) months after the occurrence of the Material Casualty or the Condemnation, Condemnation and (z) six (6) months prior to the Scheduled Expiration Date unless Lessee currently is exercising either the Term Purchase Option or the Expiration Date Purchase Option. Lessee shall use its own funds to make such repairs using its own fundsand restoration, except to the extent any Casualty and Condemnation Proceeds are available and are released to Lessee for such purpose pursuant to Subparagraph 3.04

Appears in 1 contract

Samples: Lease Agreement (Silicon Valley Group Inc)

Repair and Restoration. If Lessee is required elects to repair and restore the Facility 2 1 Property following any Material Casualty or any Condemnation, Lessee shall diligently proceed to repair and restore the Facility 2 1 Property to the condition in which it existed immediately prior to such Material Casualty or such Condemnation and shall complete all such repairs and restoration as soon as reasonably practicable; provided, however, that Lessee shall in any event complete all such repairs and restoration but not later than the earlier of (y) six (6) months after the occurrence of the Material Casualty or the Condemnation, and (z) six (6) months prior to the Scheduled Expiration Date unless Lessee currently is exercising either the Term Purchase Option or the Expiration Date Purchase Option. Lessee shall make such repairs and restoration using its own funds, except to the extent any Casualty and Condemnation Proceeds are available and are released to Lessee for such purpose pursuant to Subparagraph 3.04

Appears in 1 contract

Samples: Participation Agreement (Novellus Systems Inc)

Repair and Restoration. If Lessee is required elects to repair and restore the Facility 2 Property following any Material Casualty or any Condemnation, Lessee shall diligently proceed to repair and restore the Facility 2 Property to the condition in which it existed immediately prior to such Material Casualty or such Condemnation and shall use reasonable efforts to complete all such repairs and restoration as soon as reasonably practicable; provided, however, that Lessee shall in any event complete all such repairs and restoration but not later than the earlier of (y) six (6) months after the occurrence of the Material Casualty or the Condemnation, Condemnation and (z) six (6) months prior to the Scheduled Expiration Date unless Lessee currently is exercising either the Term Purchase Option or the Expiration Date Purchase Option,. Lessee shall use its own funds to make such repairs using its own fundsand restoration, except to the extent any Casualty and Condemnation Proceeds are available and are released to Lessee for such purpose pursuant to Subparagraph 3.04

Appears in 1 contract

Samples: Lease Agreement, Construction Deed of Trust, Security Agreement (Etec Systems Inc)

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