Termination in Event of Damage Sample Clauses

Termination in Event of Damage. (a) The Landlord, by written notice to the Tenant given within 60 days of the occurrence of damage to the Premises, may terminate this Lease: (i) if the Premises are damaged by any cause and in the reasonable opinion of the Landlord either cannot be repaired or rebuilt with reasonable diligence within 180 days after the occurrence of the damage or the cost of repairing or rebuilding it would exceed by more than $100,000 the proceeds of the Landlord's insurance available for that purpose, or (ii) if the Premises are damaged by any cause and the damage is such that the Premises or a substantial part of the Premises are rendered not reasonably capable of use by the Tenant for the conduct of its business and in the reasonable opinion of the Landlord cannot be repaired or rebuilt with reasonable diligence by 6 months before the end of the Term. (b) The Tenant, by written notice to the Landlord given within 60 days of the occurrence of the damage, may terminate this Lease if the Premises is damaged by any cause and the damage is such that the Premises or a substantial part of the Premises is rendered not reasonably capable of use by the Tenant for the conduct of its business and in the reasonable opinion of the Landlord cannot be repaired or rebuilt with reasonable diligence by 6 months before the end of the Term. (c) If this Lease is terminated under either (a) or (b) above, the Tenant will not be bound to repair as provided in paragraph 7.2, and the Tenant will deliver up possession of the Premises to the Landlord with reasonable speed but in any event within 15 days after the giving of the notice of termination, and all Rent will be apportioned and paid to the date on which possession is delivered up, subject to any abatement to which the Tenant may be entitled under paragraph 7.3, but otherwise the Tenant will repair the damage with all reasonable diligence and, without limiting the foregoing, the Tenant will restore or reconstruct all Tenant's Work.
Sample 1
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Termination in Event of Damage. (a) The Owner, by written notice to the Operator given within 60 days of the occurrence of damage to the Complex, may terminate this Agreement: (i) if the Complex is damaged by any cause and in the reasonable opinion of the Owner either cannot be repaired or rebuilt with reasonable diligence within 120 days after the occurrence of the damage or the cost of repairing or rebuilding it would exceed by more than $100,000 the proceeds of the Owner’s insurance available for that purpose; or (ii) if the Premises are damaged by any cause and the damage is such that the Premises or a substantial part of the Premises are rendered not reasonably capable of use by the Operator for the conduct of its business and in the reasonable opinion of the Owner cannot be repaired or rebuilt with reasonable diligence by six months before the end of the Term. (b) The Operator, by written notice to the Owner given within 60 days of the occurrence of the damage, may terminate this Agreement if the Premises are damaged by any cause and the damage is such that the Premises or a substantial part of the Premises are rendered not reasonably capable of use by the Operator for the conduct of its business and in the reasonable opinion of the Owner cannot be repaired or rebuilt with reasonable diligence by six months before the end of the Term. (c) If this Agreement is terminated under either 0 or (b) above, neither the Owner nor the Operator will be bound to repair and the Operator will deliver up possession of the Premises to the Owner with reasonable speed but in any event within 15 days after the giving of the notice of termination, and all Fees and bonuses will be apportioned and paid to the date on which possession is delivered up.
Sample 1
Termination in Event of Damage. (a) The Landlord, by written notice to the Tenant given within 60 days of the occurrence of damage to the Premises or the Building, may terminate this Lease if the Building or the Premises is damaged by any cause and in the reasonable opinion of the Landlord either cannot be repaired or rebuilt with reasonable diligence within 180 days after the occurrence of the damage or the cost of repairing or rebuilding it would exceed by more than $100,000 the proceeds of the applicable insurance available for that purpose, or (b) The Tenant, by written notice to the Landlord given within 60 days of the occurrence of damage to the Premises or the Building, may terminate this Lease if the Building or the Premises are damaged by any cause and in the reasonable opinion of the Tenant the damage is such that the Premises or a substantial part of the Premises are rendered not reasonably capable of use by the Tenant for the conduct of its business and cannot be repaired or rebuilt with reasonable diligence within 60 days after the occurrence of the damage. If this Lease is terminated under either (a) or (b) above, neither the Landlord nor the Tenant will be bound to repair the Premises or the Building and the Tenant will deliver up possession of the Premises to the Landlord with reasonable speed but in any event within 30 days after the giving of the notice of termination, and all Rent will be apportioned and paid to the date on which possession is delivered up, subject to any abatement to which the Tenant may be entitled under paragraph 12.1.
Sample 1
Termination in Event of Damage. (a) The Landlord, by written notice to the Tenant given within 60 days of the occurrence of damage to the Building, may terminate this Lease: (i) if the Building is damaged by any cause and in the reasonable opinion of the Landlord either cannot be repaired or rebuilt with reasonable diligence within nine months after the occurrence of the damage or the cost of repairing or rebuilding it would exceed by more than $100,000 the proceeds of the Landlord’s insurance available for that purpose; or (ii) if the Premises are damaged by any cause and the damage is such that the Premises or a substantial part of the Premises are rendered not reasonably capable of use by the Tenant for the conduct of its business and in the reasonable opinion of the Landlord cannot be repaired or rebuilt with reasonable diligence by four months before the end of the Term. (b) If this Lease is terminated under subclause 9.4(a) above, neither the Landlord nor the Tenant will be bound to repair as provided in clauses 9.1 and 9.2, and the Tenant will deliver up possession of the Premises to the Landlord with reasonable speed.
Sample 1
Termination in Event of Damage. If any part of the Building is damaged or destroyed by any cause, within thirty (30) days after such damage or destruction occurs, the Landlord will provide the Tenant with written notice, in the reasonable opinion of the Landlord’s architect, of when the Building can be rebuilt or made fit for the purpose of the Tenant. If the Building cannot be rebuilt or made fit for the purpose of the Tenant within one hundred and twenty (120) days, the Landlord or the Tenant may, at its option within thirty (30) days after such notice is given, terminate this Lease by giving the other party written notice of termination. If the Lease is terminated under this Section 6.4, neither the Tenant nor the Landlord will be obligated to repair as provided under this Lease, the Tenant will deliver vacant possession of the Premises to the Landlord within thirty (30) days after receipt of the notice of termination, and all rent will be apportioned and paid to the date on which possession is delivered, subject to any abatement to which the Tenant is entitled under Section 6.3. If no termination notice is given, the Landlord or the Tenant or both, as the case may be according to their obligations to repair under this Lease, will repair the damage with reasonable diligence.
Sample 1

Related to Termination in Event of Damage

  • Termination Events If the Early Termination Date results from a Termination Event:—

  • LIABILITIES IN EVENT OF TERMINATION Except as provided in Section 7.8 hereof, the termination of this Agreement will in no way limit any obligation or liability of any party based on or arising from a breach or default by such party with respect to any of its representations, warranties, covenants or agreements contained in this Agreement including, but not limited to, legal and audit costs and out of pocket expenses.

  • In the Event of Termination After receipt of a notice of termination, except as otherwise directed, the AGENCY shall: a. Remit to the COUNTY, within fourteen (14) calendar days, any advanced funds paid, prorated as of the date of termination. b. Stop working under this Contract on the date of receipt and to the extent specified in the notice of termination. c. Place no further orders or subcontracts to the extent that they relate to the performance of the work, which was terminated. d. Terminate all orders and subcontracts to the extent that they relate to the performance of the work, which was terminated. e. Handle all property as directed by the COUNTY. f. Finalize all necessary up to date reports and documents required under the terms of this Agreement up to the date of termination, up to and including the final expenditure report due at the end of the Contract, if any, without reimbursement beyond that due as of the date of termination for services rendered to the termination date. g. Take any other actions as directed in writing by the COUNTY.

  • Event of Termination As soon as reasonably practicable and in any event within two (2) Business Days after any Responsible Officer of the Borrower obtains knowledge of the occurrence of each Event of Termination or Incipient Event of Termination (if such Incipient Event of Termination is continuing on the date of such notice), the statement of a Responsible Officer of the Borrower setting forth the details of such Event of Termination or Incipient Event of Termination and the action which the Borrower is taking or proposes to take with respect thereto.

  • Right to Terminate Following Event of Default If at any time an Event of Default with respect to a party (the “Defaulting Party”) has occurred and is then continuing, the other party (the “Non-defaulting Party”) may, by not more than 20 days notice to the Defaulting Party specifying the relevant Event of Default, designate a day not earlier than the day such notice is effective as an Early Termination Date in respect of all outstanding Transactions. If, however, “Automatic Early Termination” is specified in the Schedule as applying to a party, then an Early Termination Date in respect of all outstanding Transactions will occur immediately upon the occurrence with respect to such party of an Event of Default specified in Section 5(a)(vii)(1), (3), (5), (6) or, to the extent analogous thereto, (8), and as of the time immediately preceding the institution of the relevant proceeding or the presentation of the relevant petition upon the occurrence with respect to such party of an Event of Default specified in Section 5(a)(vii)(4) or, to the extent analogous thereto, (8).

  • Termination Damages If the Term of this Lease is terminated for default, unless and until Landlord elects lump sum liquidated damages described in the next paragraph, Tenant covenants, as an additional, cumulative obligation after any such termination, to pay punctually to Landlord all the sums and perform all of its obligations in the same manner as if the Term had not been terminated. In calculating such amounts Tenant will be credited with the net proceeds of any rent then actually received by Landlord from a reletting of the Premises after deducting all Rent that has not then been paid by Tenant, provided that Tenant shall never be entitled to receive any portion of the re-letting proceeds, even if the same exceed the Rent originally due hereunder.

  • Right to Terminate Following Termination Event Sections 6(b)(ii)-(iv) are deleted in their entirety and replaced by the following:

  • Compensation in the Event of Termination In the event that the Executive’s employment hereunder terminates prior to the expiration of this Agreement for any reason provided in Section 5 hereof, the Company shall pay the Executive, compensation and provide the Executive and the Executive’s eligible dependents with benefits as follows:

  • Other Termination Events Subject to Section 5.3(b), this Agreement shall terminate with respect to all Parties upon the earliest to occur of (a) a written agreement among the Parties to terminate this Agreement, (b) the Closing and (c) termination of this Agreement in accordance with Section 5.1 by written notice.

  • Termination; Survival Following Termination (i) Either party may terminate this Agreement prior to the end of the Agency Period, by giving written notice as required by this Agreement, upon ten (10) Trading Days’ notice to the other party; provided that, (A) if the Company terminates this Agreement after the Agent confirms to the Company any sale of Shares, the Company shall remain obligated to comply with Section 3(b)(v) with respect to such Shares and (B) Section 2, Section 6, Section 7 and Section 8 shall survive termination of this Agreement. If termination shall occur prior to the Settlement Date for any sale of Shares, such sale shall nevertheless settle in accordance with the terms of this Agreement. (ii) In addition to the survival provision of Section 7(b)(i), the respective indemnities, agreements, representations, warranties and other statements of the Company, of its officers and of the Agent set forth in or made pursuant to this Agreement will remain in full force and effect, regardless of any investigation made by or on behalf of the Agent or the Company or any of its or their partners, officers or directors or any controlling person, as the case may be, and, anything herein to the contrary notwithstanding, will survive delivery of and payment for the Shares sold hereunder and any termination of this Agreement.

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