Termination Due to Casualty Sample Clauses

Termination Due to Casualty. If (i) the Building or the Premises or any substantial portion thereof are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term (as the same may have been extended or as may be extended by Tenant’s exercise of any then remaining Extension Option under Exhibit D-1 given within thirty (30) days after such fire or other casualty) that the cost to repair such damage is reasonably estimated to exceed one-third of the total Base Rent and Additional Rent for Taxes and Operating Expenses payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) the Building or the Premises or any substantial portion thereof are so substantially damaged that Landlord’s restoration work would require more than twelve (12) months after the date of damage to substantially complete, as reasonably estimated by Landlord’s architect, or Applicable Legal Requirements would prohibit Landlord from restoring the Building to substantially the same condition and at least substantially the same size existing prior to such casualty, or (iii) the Building or the Premises or any substantial portion thereof are damaged by an uninsured casualty that was not covered (and was not required to be covered) under Landlord’s property policy under the terms of Section 7.4 and Landlord determines not to repair such damage (and Tenant does not elect, by notice given within thirty (30) days after Landlord’s notice of such determination, to pay for the costs of performing such repair work), then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within ninety (90) days after such damage, or such longer period as is required to complete adjustment of such casualty loss with the insurer, and the effective termination date pursuant to such notice shall be not less than sixty (60) days after the day on which such termination notice is received by Tenant. In addition, in the event of a fire or other casualty (other than due to the gross negligence or willful misconduct of Tenant or any Tenant Party) that renders the Premises or any substantial portion thereof unfit for use as provided above as a result thereof and Landlord’s restoration work for the Premises would require an estimated restoration period of more than twelve (12) months after the date of such damage to substantially complete, as reasonably estimat...
Sample 1
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Termination Due to Casualty. In the event that Playa is entitled to terminate this Agreement due to a Casualty, as described in Sections 10.01 and 10.02, and such Casualty does not affect all parcels of Real Property to be acquired by Playa hereunder through Sagicor Newco, Playa may elect to proceed to closing on the parcels of Real Property which remain unaffected by the Casualty with a reduction of the consideration of $325,000,000.00 equal to the portions of the consideration allocated to such affected parcels of Real Property, as such allocations are to be determined in accordance with Section 2.11.
Sample 1
Termination Due to Casualty. If the Leased Premises are destroyed or substantially damaged by casualty or by the negligence of Lessor or of Lessor’s employees, agents, contractors, or licensees, Lessee may upon fifteen (15) days’ written notice to Lessor elect to terminate this Lease an all rights and obligations hereunder.
Sample 1
Termination Due to Casualty. If Buyer terminates this Agreement due to Casualty, on notice of termination from Buyer, Escrow Holder shall immediately terminate Escrow. Buyer shall be responsible for payment to Escrow Holder of the Escrow fees and charges related to termination, if any. Upon termination of this Agreement as provided in this Section 20, Escrow Holder shall disburse the Xxxxxxx Money Deposit (and any interest earned thereon) to Buyer (less, if then unpaid, the Escrow fees and charges related to termination, if any).
Sample 1

Related to Termination Due to Casualty

  • Termination Due to Change of Control A “Termination Due to Change of Control” shall occur if within the 24 month period beginning with the date a Change of Control occurs (i) the Executive’s employment with the Corporation is involuntarily terminated (other than by reason of death, disability or Cause) or (ii) the Executive’s employment with the Corporation is voluntarily terminated by the Executive subsequent to (A) any reduction in the total of the Executive’s annual base salary (exclusive of fringe benefits) and the Executive’s target bonus in comparison with the Executive’s annual base salary and target bonus immediately prior to the date the Change of Control occurs, (B) a significant diminution in the responsibilities or authority of the Executive in comparison with the Executive’s responsibility and authority immediately prior to the date the Change of Control occurs or (C) the imposition of a requirement by the Corporation that the Executive relocate to a principal work location more than 50 miles from the Executive’s principal work location immediately prior to the date the Change of Control occurs.

  • Termination Due to Change in Control If the Company terminates Executive's employment without Cause (and for reasons other than death or Disability) in conjunction with a Change in Control (as defined below), Executive shall be entitled to receive all accrued but unpaid salary and benefits through the date of termination plus the Change in Control Benefit (as defined below).

  • Termination Due to Death or Permanent Disability If the Employment Period shall be terminated due to death or Permanent Disability of the Executive, the Executive (or his estate or legal representative) shall be entitled solely to the following: (a) Base Salary through the Date of Termination (paid on the Companies’ normal payroll date), and (b) medical benefits as provided in Section 5.05 below. The Executive’s entitlements under any other benefit plan or program shall be as determined thereunder. In addition, promptly following any such termination, the Executive (or his estate or legal representative) shall be reimbursed for all Reimbursable Expenses incurred by the Executive prior to such termination in accordance with Section 4.04 and Section 13.14 herein.

  • Termination Due to a Change of Control If (A) Employer (either Northrim BanCorp, Inc. or Northrim Bank) is subjected to a Change of Control (as defined in Section 5.f.(i)), and (B) either Employer or its assigns terminates Executive’s employment without Cause (either during the annual term of this Agreement or by refusing to extend this Agreement when the annual termination occurs every December 31) or Executive terminates his employment for Good Reason within 730 days of such Change of Control, then Employer shall pay Executive (i) all Base Salary earned and all reimbursable expenses incurred under this Agreement through such termination date; (ii) an amount equal to one (1) times Executive’s highest Base Salary over the prior three (3) years; and (iii) benefits described in Sections 5.b.(I) and (II) below. The amounts described in Section 5.a.(i) and (ii) herein shall be paid no later than forty-five (45) days after the day on which employment is terminated. No payment will be made pursuant to Section 5.a.(ii) unless the Executive has signed an agreement, in a form acceptable to Employer, that releases and holds Employer harmless from all known and unknown claims and liabilities arising out of Executive’s employment with Employer or the performance of this Agreement (“Release Agreement”) and the Release Agreement has become irrevocable prior to the payment date.

  • Termination Due to Death or Disability Executive’s employment shall terminate automatically upon Executive’s death. The Company may terminate Executive’s employment immediately upon the occurrence of a Disability, such termination to be effective upon Executive’s receipt of written notice of such termination. Upon Executive’s death or in the event that Executive’s employment is terminated due to Executive’s Disability, Executive or Executive’s estate or Executive’s beneficiaries, as the case may be, shall be entitled to:

  • Termination Due to Death In the event that the Executive’s employment is terminated due to his death, his estate or his beneficiaries, as the case may be, shall be entitled to the following benefits:

  • Termination Giving Rise to a Termination Payment If there is a Covered Termination by the Executive for Good Reason, or by the Company other than by reason of (i) death, (ii) disability pursuant to Section 11, or (iii) Cause, then the Executive shall be entitled to receive, and the Company shall promptly pay, Accrued Benefits and, in lieu of further base salary for periods following the Termination Date, as liquidated damages and additional severance pay and in consideration of the covenant of the Executive set forth in Section 13(a), the Termination Payment pursuant to Section 8(a).

  • Termination Due to Retirement Subject to Section 7 below, in the event of Termination due to Retirement, then (regardless of any subsequent death of the Employee) the Option will continue to vest pursuant to Section 3, and the last date on which the Option may be exercised is the day prior to the Expiration Date.

  • Termination Due to Disability If the Optionee’s employment terminates by reason of the Optionee’s disability (as determined by the Administrator), any portion of this Stock Option outstanding on such date shall become fully exercisable and may thereafter be exercised by the Optionee for a period of 12 months from the date of termination or until the Expiration Date, if earlier.

  • Termination Due to Disability or Death This Agreement shall terminate automatically upon the appointee’s death. If the appointee is unable to perform his/her essential job functions with or without reasonable accommodation, the University or appointee may terminate this Agreement.

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