Loss or Destruction. Upon receipt of evidence satisfactory to the Company of the loss, theft, destruction, or mutilation of this Warrant Certificate and, in the case of any such loss, theft or destruction, upon delivery of an indemnity agreement or bond satisfactory in form, substance and amount to the Company or, in the case of any such mutilation, upon surrender and cancellation of this Warrant Certificate, the Company at its expense will execute and deliver, in lieu thereof, a new Warrant Certificate of like tenor.
Loss or Destruction. Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of any loss, theft or destruction, upon delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company and its counsel, or, in the case of any such mutilation, upon surrender and cancellation of this Warrant, the Company, at its expense, will execute and deliver, in lieu thereof, a new Warrant of like tenor.
Loss or Destruction. In the event the premises covered by this Lease are wholly or partially destroyed or damaged so as to render the whole or a substantial part thereof unfit for occupancy, and the same cannot be repaired with reasonable diligence within one hundred twenty (120) days after the happening of such destruction or damage, then this Lease, at the option of the Lessor, shall cease and terminate as of the date of such destruction or damage. Upon such termination, Lessor shall repay the Lessee any rent theretofore paid by Xxxxxx with respect to any period subsequent to the date of such termination, and xxxxxxx Xxxxxx shall surrender possession of the premises to Lessor in an acceptable condition. If such destruction or damage can be repaired within one hundred twenty (120) days, Lessee shall forthwith repair the same with all reasonable diligence, and at Xxxxxx’s own expense, and the Lease shall continue in force and effect. If the hangar cannot be repaired within one hundred twenty (120) days, then the Lessee shall remove the remaining structure and improvements from the leased premises within sixty (60) days.
Loss or Destruction. In the event any Item of Equipment shall be lost, stolen, destroyed, damaged beyond repair or permanently rendered unfit for use for any reason whatsoever ("Event of Loss"). Lessee shall promptly, but in any event within ten (10) days of the Event of Loss, give written notification to Lessor of said loss and the facts pertaining thereto. In addition, within ten (10) days of the Event of Loss Lessee shall elect either: (a) to replace such Item of Equipment at Lessee's own cost and expense of; or (b) to pay to Lessor the Termination Value of the Item and shall notify Lessor in writing of such election. Should Lessee elect to replace such Item, any replacement Item shall be free and clear of all liens, encumbrances and rights of others and shall be of like kind and have substantially equal fair market value as the replaced Item, as if such replaced Item were in the condition and repair required to be maintained by the terms hereof. All such replacement Items shall become the property of Lessor and shall immediately become subject to this Agreement, and shall be deemed part of the Equipment for all purposes hereof, to the same extent as the property originally comprising the Equipment. Such replaced Item of Equipment shall no longer be deemed part of the Equipment leased hereunder, and Lessor will transfer to Lessee, without recourse or warranty all of Lessor's right, title and interest therein. In the event Lessee elects to replace such Item of Equipment, Lessee's obligation to pay Rental as set forth in this Lease Agreement shall remain unchanged. Lessee further agrees to execute such documents in connection with such replacement as deemed necessary by Lessor to insure Lessor's full title thereto. Should Lessee elect not to replace such Item of Equipment, Lessee shall pay to Lessor, on the next Rental Payment Date for such Item following such Event of Loss, the Termination Value of such lost or destroyed Item. The obligation of Lessee to pay Rental with respect to such Item (including the Rental due on such Rental Payment Date) shall continue undiminished until the payment of such Termination Value. After the payment of such Termination Value, Lessee's obligation to pay Rental for such Item shall cease, but Lessee's obligation to pay Rental for all other Items of Equipment shall remain unchanged. After the payment of such Termination Value, Lessor will transfer to Lessee, without recourse or warranty, all of Lessor's right, title and interest in and to such ...
Loss or Destruction. Upon receipt of evidence satisfactory to the Company of the loss, theft, destruction or mutilation of this Option Certificate and, in the case of any such loss, theft or destruction, upon delivery of an indemnity agreement or bond satisfactory in form, substance and amount to the Company or, in the case of any such mutilation, upon surrender and cancellation of this Option Certificate, the Company at its expense will execute and deliver, in lieu thereof, a new Option Certificate of like tenor.
Loss or Destruction. If any of the cars shall be completely destroyed, or if the physical condition of any car shall become such that the car cannot be operated in railroad service, as determined by the parties, then Lessor may, at its option, cancel the related Lease as to such car as of the date on which such event occurred, or may substitute another car within a reasonable period of time. Lessee shall notify Lessor of the occurrence of any such event within two (2) days of such event. In the event of such substitution, the substituted car shall be held pursuant to all the terms and conditions of the related Lease as was the car for which it substituted. Without limiting the foregoing, Lessee agrees that if a car is lost or destroyed or is in such physical condition that it cannot be operated in railroad service by reason of misuse or negligence of Lessee or its consignee, agent or sublessee or while on a railroad that does not subscribe to the Interchange Rules or while on any private siding or track or any private or industrial railroad, Lessee will pay Lessor, in cash, the settlement value of such car as determined by Rule #107 of the Interchange Rules within ten (10) days following a request by Lessor for such payment. Lessor and Lessee shall cooperate with and assist each other in any reasonable manner requested, but without affecting their respective obligations under this Article or Article 20, to establish proper claims against parties responsible for the loss of, destruction of or damage to the cars.
Loss or Destruction. As of the related Cutoff Date, no Financed Vehicle related to a Receivable has been the subject of a total loss or destruction.
Loss or Destruction. Sellers shall continue to own and operate the Offices until the Closing Date. Sellers shall assume all risk of loss, destruction, or damage due to fire or other casualty until such date. Purchaser shall have the right to cancel this Agreement if the Offices are interrupted prior to said date by loss, destruction, or damage due to fire or other casualty. If Purchaser does not exercise its right to cancel, as stated herein, Purchaser shall take the Assets in the existing condition, together with any insurance proceeds payable by virtue of such loss or damage.
Loss or Destruction. Pursuant to a Stock Purchase Agreement dated October 29, 2007, having an Effective Date as defined in said Stock Purchase Agreement (“Purchase Agreement”), VCG will purchase the building currently erected on the Leased Premises. Should the building be destroyed or damaged by fire or other disaster, Tenant shall have the option as follows:
a. rebuild the building in a quality and manner at least as good as the quality and manner of the building as of the Effective Date of the Purchase Agreement. The work of repair or restoration, which shall be completed with due diligence, shall be commenced within a reasonable time after the damage or loss occurs; or
b. pay the insurance proceeds received for the destruction or loss of the building to Landlord, unless Tenant shall exercise the options contained in Article IV hereof. Neither Monthly Rent nor any other rental hereunder shall xxxxx while the Improvements are being repaired or restored; provided, however, in the event the Leased Premises cannot be used for the operation of the business due to the extent of the loss or destruction there shall be a 120 day abatement in Monthly Rent due under the :Lease and there shall be a corresponding extension of the lease term not to exceed four (4) months.
Loss or Destruction. If this Warrant is lost, stolen or mutilated, the Company will issue the Holder a common stock purchase warrant identical to this Warrant upon the Company's receipt of (a) evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant, and (b) an indemnity from the Holder in a form and amount reasonably satisfactory to the Company.
