Casualty and Eminent Domain. Landlord and Tenant jointly and severally agree that the Mortgage permits Lender, at its option, to apply to the indebtedness from time to time secured by the Mortgage any and all insurance proceeds payable with respect to any casualty loss at the Demised Premises and any and all awards or other compensation that may be payable for the condemnation of all or any portion of the Demised Premises, or any interest therein, or by way of negotiated settlement or conveyance in lieu of condemnation; and Landlord and Tenant jointly and severally consent to any such application by Lender. Notwithstanding the foregoing, Landlord and Lender agree that any and all insurance or condemnation proceeds payable with respect to Tenant's property or the interruption or relocation of Tenant's business (except for rental loss insurance proceeds) will be paid to Tenant, so long as they do not reduce the proceeds otherwise payable to Lender.
Casualty and Eminent Domain. In case during the Term all or any substantial part of the Premises or the Building are damaged materially by fire or other casualty or are taken by eminent domain, this Lease shall terminate at Landlord's election, by notice given to Tenant within ninety (90) days after the date of casualty or taking, specifying the effective date of termination. The effective date of termination specified by Landlord shall not be less than fifteen (15) nor more than thirty (30) days after the date of notice of such termination. If this lease is so terminated, all rent shall xxxxx from the date the Tenant ceased using the Premises. Unless terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect following any such damage or taking subject, however, to the following provisions. If the Premises are rendered unfit for use and occupation and this Lease is not so terminated, Landlord shall use due diligence (following the expiration of the period in which Landlord may terminate this Lease pursuant to the foregoing provisions of this Section) to put the Premises, or in case of a taking what may remain thereof, (excluding Tenant's equipment and any other installations or improvements made by Tenant in the Premises or elsewhere in the Building) into proper condition for use and occupancy, subject to zoning and building codes and other laws, rules and regulations then in effect. A just proportion of the rent and other charges to Tenant hereunder according to the nature and extent of the injury shall be abated from the date of such casualty or taking until the Premises shall have been put by Landlord in such condition (but if the remaining Premises are not usable for the Permitted Uses, then the entire rent shall xxxxx); and in case of a taking which permanently reduces the area of the Premises, a just proportion of the Base Rent and additional rent shall be abated for the remainder of the Term. Notwithstanding anything to the contrary, if the Premises are not restored within180 days after the casualty, then Tenant may terminate this Lease upon thirty (30) days’ prior written notice, if the Premises are not restored within such 30 day period. In the event of a taking, if the portion of the Premises remaining after the taking is not sufficient to allow for the Permitted Uses, in Tenant’s reasonable judgment, then Tenant may terminate this Lease upon thirty (30) days’ prior written notice.
Casualty and Eminent Domain. Should a portion of the Premises be substantially damaged by fire or other casualty, or if the Premises or any part thereof, shall be taken for any purpose by exercise of the power of eminent domain or condemnation or shall receive any direct or consequential damage for which Landlord or Tenant shall be entitled to compensation by reason of anything lawfully done in pursuance of any public authority, then this Rental Agreement shall terminate at the option of Landlord or Tenant. If this Rental Agreement is so terminated, then a just a proportionate abatement of rent shall be made.
Casualty and Eminent Domain. 36 8.1 Restoration Following Casualties................................ 36 8.2 Landlord's Termination Election................................. 37 8.3
Casualty and Eminent Domain. (a) In the event that the entire Premises or Building, or any substantial part thereof, shall be taken by any exercise of the right of eminent domain or shall receive any direct or consequential or substantial damages for which Lessor or Lessee or either of them shall be entitled to compensation by reason of anything lawfully done in pursuance of any public or other authority during the Term, then this Lease shall terminate at the election of Lessor, which election may be made notwithstanding Lessor's entire interest may not have been divested. If such taking or damage substantially reduces the floor space of the Premises so as to render the Premises unusable for the Permitted Use after such taking, Lessee shall have the right, effective when its possession is disturbed, to terminate this Lease by notice in writing to Lessor delivered within thirty (30) days of the first day on which Lessee's possession is so disturbed. Lessor reserves and excepts all rights to damage to the Premises and Building and the leasehold hereby created, now accrued or hereafter accruing by reason of any exercise of eminent domain, or by reason of anything lawfully done in pursuance of any public or other authority (except for damages for Lessee's Property and moving expenses) and by way of confirmation, Lessee grants to Lessor all of Lessee's rights to such damages (except as aforesaid) and covenants to execute and deliver such further instruments of assignment thereof as Lessor may from time to time request.
Casualty and Eminent Domain. Without limiting any provisions of the Credit Documents, until such time as the Transfer Documents for a Project are delivered to KCCI or its designee pursuant to Section 2.9 or until a Release is delivered by KCCI in connection with a sale or refinancing of a Project, the terms of the Credit Documents shall continue to govern any casualty or condemnation to the Project, including any insurance proceeds or condemnation awards or other rights, in the manner applicable during the ongoing existence of Events of Default, provided that Borrower Parties shall have no obligation (i) to repair, restore or replace loss or damage to a Project due to casualty or condemnation except to the extent insurance or condemnation proceeds are made available therefor or (ii) to operate or manage a Project after casualty or condemnation except to the extent proceeds of business interruption insurance are made available therefor. 2.10.
Casualty and Eminent Domain. In the event of any damage, destruction, casualty or condemnation affecting the Sublease Premises, Rent payable hereunder shall be abated but only to the extent that Rent is abated under the Master Lease with respect to the Sublease Premises. Subtenant shall have no right to terminate this Sublease in connection with any damage, destruction, casualty, condemnation or threat of condemnation except to the extent the Master Lease is also terminated as to the Master Premises or any material portion thereof.
Casualty and Eminent Domain. Section 8.1 Restoration Following Casualties
Casualty and Eminent Domain. Should a substantial part of the Leased Premises be substantially damaged by fire or other casualty or should a substantial part of the Leased Premises be taken by eminent domain; the LESSOR may elect to terminate this Lease. When such fire, casualty, or taking renders the Leased Premises substantially unsuitable for this intended use, a just and proportionate abatement of rent shall be made, and the LESSEE may elect to terminate this Lease if:
Casualty and Eminent Domain. 33 8.1 Restoration Following Casualties.................................33 8.2
