Restoration Obligation. Promptly following the occurrence of a Casualty, Borrower shall, at its expense, commence and diligently complete the repair, restoration, replacement, and rebuilding of the Collateral as nearly as possible to its value, condition and character immediately prior to the Casualty (a “Restoration”). Borrower shall not be excused from Borrower’s Restoration obligation, regardless of whether there are Insurance Proceeds available to Borrower or whether any such Insurance Proceeds are sufficient in amount, and the application or release by Lender of any Insurance Proceeds shall not cure or waive any Default under this Agreement or the other Loan Documents or invalidate any act done pursuant thereto.
Restoration Obligation. 1. Upon termination of this Agreement, the Lessee shall, at its cost, remove all the fixtures and facilities newly installed, added or altered at the cost of the Lessee and equipment owned by the Lessee (hereinafter in this article referred to as “Fixtures”), and also dismantle, at its cost, Fixtures newly installed, added or altered by the Lessor at the request of the Lessee, if so requested by the Lessor, to restore the Leased Room to the original status and vacate the Leased Room to the Lessor upon termination of this Agreement. For the purpose of this article, restoration of the Leased Room shall mean the satisfaction of the Restoration Standards attached as Attachment 1. The restoration works shall be generally ordered to the Lessor or a contractor designated by the Lessor.
2. If the Lessee does not restore the Leased Room to the original status despite the termination of this Agreement, the Lessor itself may remove Fixtures, restore defacement, damage, failure and other wear caused by the use by the Lessee, restore the Leased Room to the original state and then request the costs and expenses incurred therefor from the Lessee.
3. If any Fixtures remain in the Leased Room or Building after the termination of this Agreement and vacation of the Leased Room by the Lessee, the Lessor may deem that the Lessee has abandoned the ownership of such Fixtures and dispose of such Fixtures at its option, and then request the costs and expenses incurred therefor from the Lessee.
4. The Lessee shall not request the redemption of costs and expenses incurred in connection with the Leased Room, fixtures or facilities, etc. in whatever item or name, compensation for transfer, compensation for forced removal, or key money in vacating the Leased Room, nor request the Lessor to purchase any Fixtures installed at the cost of the Lessee in the Leased Room.
Restoration Obligation. No Partner shall have an obligation to restore any deficit balance in its Capital Account.
Restoration Obligation. Tenant’s restoration obligations as to all but the Fifth Expansion Premises (regarding mechanical equipment installed by it) are set forth in the Lease, and Tenant acknowledges those responsibilities. In the case of the Fifth Expansion Premises, Tenant intends to migrate the controls for Landlord’s existing HVAC equipment to Tenant’s management system during the Term. Upon Tenant’s vacation of the Fifth Expansion Premises, Tenant shall return the controls for Landlord’s HVAC to Landlord’s management system at Tenant’s cost, which shall be Tenant’s sole responsibility regarding restoration in the Fifth Expansion Premises.
Restoration Obligation. If Landlord is obligated to or elects to repair or restore following any casualty, Landlord shall not be obligated to repair or restore those portions of the Premises which Tenant is obligated to insure. Tenant shall repair and restore all Tenant Improvements and Alterations so as to restore the Premises to their condition prior to the casualty event and Landlord shall disburse insurance proceeds received from Tenant’s insurer for that purpose.
Restoration Obligation. Notwithstanding anything to the contrary in this Section 10, prior to Tenant’s surrender of the Premises, Tenant shall have the obligation to restore the area of the Premises in which Tenant’s lab shall be located to its original condition at the time of Lease execution, including, but not limited to, restoring smooth surface ceiling tiles and ESD flooring to Building Standard finishes, removal of lab equipment electrical stubbed to the distribution panel, and demolition of lab partitions; provided, however, Tenant shall not be required to remove any dedicated heating, ventilating and air conditioning (“HVAC”) unit(s) serving the lab; rather, Tenant shall have the right to leave the HVAC unit on the roof but shall remove all electrical components related to the HVAC, ductwork, diffusers and any other components related to the HVAC and make any necessary repairs to the Premises, to the reasonable satisfaction of Landlord. Such work shall be at Tenant’s sole cost and expense and shall be performed prior to the expiration or earlier termination of the Term of the Lease.
Restoration Obligation. 21 8.6 Timing of Liquidating Distributions ..................................... 21 8.7 Liquidating Trust ....................................................... 21
Restoration Obligation. No Partner shall have an obligation to restore a negative balance in its Capital Account.
Restoration Obligation. Following each entry by Purchaser, Purchaser, at Purchaser’s sole cost and expense, shall restore the Real Property to the same condition as its original condition prior to any of Purchaser’s Studies. All such restoration shall be fully completed prior to the Due Diligence Period Expiration, time being of the essence, and such restoration obligations shall survive the termination of this Agreement.
Restoration Obligation. In the event of a Partial Taking, ---------------------- Landlord shall promptly proceed to rebuild, repair and restore the remainder of the Building and/or Improvements to a complete, independent and self-contained architectural unit. However, Landlord shall contribute to the cost of restoration an amount which shall not exceed the amount of any separate Award made for consequential damage to the Building and/or Improvements and received by Landlord. In the event there is no separate Award for consequential damage, the same shall be fixed and settled by the agreement of the parties, and if there is no such agreement, then by arbitration administered by and pursuant to the then existing rules of the American Arbitration Association. The balance of such separate Award or allocated amount not so used shall belong to and be the property of Landlord. In the event the Award received and paid to Landlord is insufficient to rebuild or restore the Premises, either party may, upon notice to the other, terminate this Lease.
