Common use of Casualty and Eminent Domain Clause in Contracts

Casualty and Eminent Domain. Restoration Following Casualties. If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord’s sole opinion, be required (whether or not the Premises shall have been damaged by such casualty) or in the event there is less than six (6) months of the Term remaining or in the event Landlord’s mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease by notifying Tenant in writing of such termination within ninety (90) days after the date of such casualty. If Landlord does not thus elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to restore the Building and the Premises to substantially the same condition in which it was immediately prior to the happening of the casualty. Notwithstanding the foregoing, Landlord’s obligation to restore the Building and the Premises shall not require Landlord to expend for such repair and restoration work more than the insurance proceeds actually received by Landlord as a result of the casualty. When the repairs described in the preceding two sentences have been completed by Landlord, Tenant shall complete the restoration of all furniture, fixtures and equipment which are necessary to permit Tenant’s reoccupancy of the Premises. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or the repair thereof, except that Rent shall be abated from the date of the damage or destruction for any portion of the Premises that is unusable by Tenant, which abatement shall be in the same proportion that the rentable area of the Premises that is unusable by Tenant bears to the total rentable area of the Premises; provided that Tenant shall not be entitled to any abatement of Rent if the damage or destruction within the Premises is restored within five (5) Business Days after Landlord’s receipt of written notice from Tenant of the occurrence of the damage or destruction.

Casualty and Eminent Domain. Restoration Following Casualties5.1 Seller is responsible for any damage to the Premises, other than for ordinary use, wear, tear and natural deterioration, until the Closing. If the Premises are damaged by fire, vandalism, storm, flood or any part thereof other casualty between the date of this Agreement and Closing, Seller shall be damaged by fire or other casualty, Tenant promptly notify Purchaser and the parties shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction obtain an estimate of the Building shall, in Landlord’s sole opinion, be required (whether or not cost of repairing the Premises shall have been damaged by such casualty) or in damage from an unaffiliated contractor of their mutual choice. If the event there estimated cost is less than six (6) months of $50,000 Seller shall repair the Term remaining or in damage at Seller's expense, the event Landlord’s mortgagee should require that the Closing shall take place as provided herein and Seller shall be entitled to receive all insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease by notifying Tenant in writing of such termination within ninety (90) days after the date of such casualty. If Landlord does not thus elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to restore the Building and the Premises to substantially the same condition in which it was immediately prior to the happening of the casualty. Notwithstanding the foregoing, Landlord’s obligation to restore the Building and the Premises shall not require Landlord to expend for such repair and restoration work more than the insurance proceeds actually received by Landlord as a result of the casualty. When If the estimated cost is more than $50,000, Seller shall forthwith proceed to commence and complete the necessary repairs and the Closing shall take place as provided herein; provided, however, that if Seller has not commenced such repairs as of the scheduled date of Closing or the repairs described in are reasonably estimated to take more than four months after the preceding two sentences have been completed Closing to complete, then, at Purchaser's option, the Closing shall be delayed until the work is completed, or if the Closing shall occur, the Purchase Price shall be reduced by Landlord, Tenant shall complete the restoration of all furniture, fixtures and equipment which are necessary to permit Tenant’s reoccupancy of the Premises. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury an amount equal to the business of Tenant resulting in any way from such damage or the repair thereofdeductible on Seller's insurance policy, except that Rent and there shall be abated from assigned to Purchaser at the date Closing, all of Seller's right, title and interest in and to the damage or destruction for any portion remaining insurance proceeds to the extent such proceeds relate to restoration and repair of the Premises that is unusable to be conveyed hereunder, net of such sums as have reasonably been expended by TenantSeller on such repairs. In addition, which abatement at Closing, Seller shall be in assign to Purchaser and Purchaser shall assume all construction contracts for such repair and restoration, to the same proportion that the rentable area of extent such contracts are assignable and relate to the Premises that is unusable by Tenant bears to the total rentable area of the Premises; provided that Tenant shall be conveyed hereunder. If, for any reason, insurance proceeds are not be entitled to any abatement of Rent if the damage or destruction within the Premises is restored within five (5) Business Days after Landlord’s receipt of written notice from Tenant of the occurrence received on account of the damage or destruction, the parties shall agree upon the amount necessary to repair the damage, and such amount shall be credited against the Purchase Price. In addition, if Seller's mortgagee does not release all or a portion of such insurance proceeds, Seller shall credit against the Purchase Price the amount of such proceeds withheld to the extent that such proceeds relate to restoration and repair of the Premises to be conveyed hereunder.

Casualty and Eminent Domain. Restoration Following Casualties. If In case during the Term all or any substantial part of the Premises or any part thereof shall be the Building are damaged materially by fire or other casualtycasualty or are taken by eminent domain, Tenant shall give prompt written notice thereof to Landlord. In case the Building shall be so damaged that substantial alteration or reconstruction of the Building shall, in Landlord’s sole opinion, be required (whether or not the Premises shall have been damaged by such casualty) or in the event there is less than six (6) months of the Term remaining or in the event Landlord’s mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease shall terminate at Landlord's election, by notifying notice given to Tenant in writing of such termination within ninety (90) days after the date of such casualtycasualty or taking, specifying the effective date of termination. If Landlord does not thus elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to restore the Building and the Premises to substantially the same condition in which it was immediately prior to the happening The effective date of the casualty. Notwithstanding the foregoing, Landlord’s obligation to restore the Building and the Premises shall not require Landlord to expend for such repair and restoration work more than the insurance proceeds actually received termination specified by Landlord as a result of the casualty. When the repairs described in the preceding two sentences have been completed by Landlord, Tenant shall complete the restoration of all furniture, fixtures and equipment which are necessary to permit Tenant’s reoccupancy of the Premises. Landlord shall not be liable for any inconvenience or annoyance to 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 or injury ceased using the Premises. Unless terminated pursuant to the business of Tenant resulting foregoing provisions, this Lease shall remain in full force and effect following any way from such damage or taking subject, however, to the repair 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, except that Rent (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 damage or destruction Premises shall have been put by Landlord in such condition (but if the remaining Premises are not usable for any 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 that remaining after the taking is unusable by not sufficient to allow for the Permitted Uses, in Tenant’s reasonable judgment, which abatement shall be in the same proportion that the rentable area of the Premises that is unusable by then Tenant bears to the total rentable area of the Premises; provided that Tenant shall not be entitled to any abatement of Rent if the damage or destruction within the Premises is restored within five may terminate this Lease upon thirty (530) Business Days after Landlord’s receipt of days’ prior written notice from Tenant of the occurrence of the damage or destructionnotice.

Casualty and Eminent Domain. Restoration Following CasualtiesTermination or Restoration; Rent Adjustment. If In case prior to or during the Premises Term all or any part thereof shall be of the Premises are damaged by fire or other casualtycasualty or by action of public or other authority in consequence thereof, Tenant shall give prompt written notice thereof or taken by eminent domain or access to Landlord. In case the Building shall be so damaged is eliminated by virtue of a taking by eminent domain or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority to such an extent that substantial alteration or reconstruction of it is determined by the Building shall, in Landlord’s sole opinion, be required (whether or not Landlord that the Premises shall not be restored, this Lease shall by notice to Tenant from Landlord terminate, which may be made notwithstanding Landlord's entire interest may have been damaged divested. The effective date of termination specified by such casualty) or in the event there is Landlord shall not be less than six forty-five (645) months of the Term remaining or in the event Landlord’s mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or in the event of any material uninsured loss to the Building, Landlord may, at its option, terminate this Lease by notifying Tenant in writing of such termination within nor more than ninety (90) days after the date of notice of such casualtytermination. If Further, during the Term, in the event of (a) damage to the Premises which makes a material portion of the Premises unfit for use and occupancy, or (b) damage to a material portion of the common facilities necessary for the practical use and enjoyment of the Premises (including, without limitation, any material portion of the common facilities which provide access to the Premises), or (c) a permanent taking of a material portion of the Premises, or (d) a permanent taking of a material portion of the common facilities necessary for the practical use and enjoyment of the Premises (including, without limitation, any material portion of the common facilities which provide access to the Premises), Tenant may, by notice given to Landlord does not thus elect within 30 days of such casualty or taking, notify Landlord of its desire to terminate this Lease. If such a notice is given, this Lease shall terminate 90 days after such notice is given unless, in the case of (a) or (b) above, within 90 days of the giving of such notice, Landlord shall commence and proceed with reasonable diligence delivers to Tenant its certification (“Landlord's Restoration Certification”) that the Landlord intends to restore the Building Premises and the common facilities, as the case may be, to substantially the condition they were in prior to such casualty or taking within 365 days of the event giving rise to such notice (“Outside Restoration Date”), and in the case of (d) above, the Landlord intends to replace what remains of the common facilities by the Outside Restoration Date so that Tenant will again be able to have the practical use and enjoyment of the Premises to substantially the same condition extent as prior to such taking. Unless terminated pursuant to the foregoing provision, this Lease shall remain in which it was immediately full force and effect following any damage or taking, subject, however, to the following provisions, and subject further to the additional right of Tenant to terminate this Lease if the restoration of the Premises or the common facilities has not occurred by the Outside Restoration Date (such date being extended by the number of days, not to exceed 90 in the aggregate, specified in a notice or notices given from time to time by Landlord to Tenant prior to the happening then applicable Outside Restoration Date, of delays in completion attributable to the casualtyoccurrence of a Force Majeure Event). Tenant may not exercise such additional right to terminate this Lease except within 30 days after the Outside Restoration Date (as so extended by such a notice or notices). Notwithstanding the foregoing, Landlord’s obligation upon the occurrence of a casualty or taking of the nature hereinabove described in clauses (a), (b), (c) or (d), which occurs within the last thirty (30) months of the Term, Landlord shall have the option to restore the Building and terminate this Lease upon written notice to Tenant. If in any such case the Premises or any portion thereof are rendered unfit for use and occupation or any portion of the common facilities necessary for the practical use and enjoyment of the Premises are unavailable for use and this Lease is not so terminated, Landlord shall not require Landlord use due diligence (following the expiration of the period in which this Lease may be terminated pursuant to expend for such repair and restoration work more than the foregoing provisions of this Section 6.1.2), subject to the availability of insurance proceeds actually received by Landlord as a result and consent of the casualty. When holders of any mortgages on the repairs described in Property, Building or both, to put the preceding two sentences have been completed by LandlordPremises, Tenant shall complete the restoration of all furniture, fixtures and equipment which are necessary to permit Tenant’s reoccupancy any portion of the Premisescommon facilities necessary for the practical use and enjoyment of the Premises or in case of a taking what may remain thereof (excluding in case of both damage and taking any items installed or paid for by Tenant), into proper condition for use and occupation. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury A just proportion of the fixed rent and additional rent according to the business nature and extent of Tenant resulting in any way from such damage or the repair thereof, except that Rent injury shall be abated from the date time of the damage or destruction for any taking until the Premises or such portion of the Premises that is unusable by Tenantcommon facilities or such remainder shall have been put into proper condition for use and occupation or until termination of this Lease, and in case of a taking which abatement shall be in permanently reduces the same proportion that the rentable area of the Premises that is unusable by Tenant bears to the total rentable area of the Premises; provided , a just proportion of the fixed rent and additional rent shall be abated for the remainder of the Term, but only to the extent such abatement is covered by lost rentals insurance for the benefit of the Landlord. To the extent that any damage occurs through the gross negligence or misconduct of Tenant or persons acting under Tenant or if any act or neglect of Tenant or such persons prevents Landlord or its Mortgagees from collecting all insurance proceeds, then the cost of repairing the casualty damage shall not be entitled paid by Tenant except to the extent any insurance proceeds are actually received by Landlord or Mortgagees (they being under no obligation to litigate their entitlement), and there shall be no abatement of Rent if rent. Notwithstanding to the damage contrary contained herein, Landlord shall have no obligation to restore any items or destruction within the Premises elements installed or paid for by Tenant which Tenant is restored within five (5) Business Days after Landlord’s receipt of written notice from Tenant permitted or required to remove upon expiration of the occurrence of the damage or destructionTerm (which items shall be Tenant’s responsibility to repair).