Damage During Last Year Sample Clauses

Damage During Last Year. (a) If, during the last year of the Term (as the same may have been extended) a Tenant Damage Event occurs and the repair thereof cannot, in the reasonable opinion of Landlord as set forth in the Repair Notice, be completed within a period equal to fifty percent (50%) of the remaining portion of the Term at the time of the Tenant Damage Event, then Tenant shall have the option to terminate this Lease (“Tenant’s Third Termination Option”). If Landlord determines that all or a portion of the Premises cannot be repaired within such period, Tenant shall have thirty (30) days from Tenant’s receipt of the Repair Notice to exercise Tenant’s Third Termination Option by written notice to Landlord. If Tenant exercises Tenant’s Third Termination Option, this Lease shall terminate as of a date specified in Tenant’s notice which is not less than thirty (30) days nor more than sixty (60) days after Tenant’s notice to Landlord of the exercise of Tenant’s Third Termination Option.
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Damage During Last Year. However, if the Premises shall be substantially damaged or destroyed by fire, windstorm, or otherwise within the last year of the term of this Lease, either party shall have the right to terminate this Lease, provided that notice thereof (the “Damage Termination Notice”) is given to the other party not later than sixty (60) days after such damage or destruction. If said right of termination is exercised, this Lease and the term hereof shall cease and come to an end thirty (30) days after receipt of the Damage Termination Notice.
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Damage During Last Year. If, at any time during the last year of the Term, the Leased Property is so damaged by f ire or otherwise that the cost of restoration exceeds fifty percent (50%) of the replacement value of the Leased Property (exclusive of foundations) immediately prior to such damage, Tenant may, within thirty (30) days after such damage, give notice of its election to terminate this Lease and, subject to the further provisions of this Section, this Lease will cease on the tenth (10th) day after the delivery of such notice. If this Lease is so terminated, Tenant will have no obligation to repair, rebuild or replace the Leased Property, and the entire insurance proceeds will belong to Landlord. If the Lease is not so terminated, Tenant shall rebuild the Leased Property in accordance with Section 10.01.
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Damage During Last Year. If more than twenty-five (25%) percent of the floor area of the improvements on the Premises shall be destroyed by fire of other casualty during the last twelve (12) months of the term of this Lease, Tenant shall have the right to terminate the Lease by giving written notice of termination to Landlord within thirty (30) days thereof, whereupon this Lease shall be deemed terminated and of no further force and effect, except for those provisions that expressly survive the expiration or termination of this Lease, which provisions shall continue in full force and effect, including payment of the rental insurance.
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Damage During Last Year. If the said building and premises shall be damaged by fire or other casualty during the last year of the initial term or during the last year of each of the extended terms of the lease, and such fire or casualty damage cannot, in the ordinary course, reasonably be expected to be repaired within one hundred eighty (180) days from the time that said work would commence (and/or, as to special work or work which requires long lead time, then if such work cannot reasonably be expected to be repaired within such additional time as is reasonable under the circumstances given the nature of the work), then, in such event, the Lessee may, at its election, terminate this Lease by notice given to Landlord within sixty (60) days after the date of such fire or other casualty, specifying the effective date of termination. The effective date of termination specified by Tenant shall be not less than thirty (30) days nor more than forty-five (45) days after the date of notice of such termination. Unless terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect following any such damage; subject, however, to the following provisions.
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Damage During Last Year. In the event of any Substantial Casualty Damage to the Leased Premises within the last year prior to the expiration of the Initial Term or any Renewal Period, and upon the failure of Tenant to exercise a Renewal Option for a subsequent Renewal Period, Landlord shall have the right to elect not to restore such Casualty Damage, in which event, Landlord shall raze the damaged portion and put the same in good order by paving or landscaping. The term "Substantial Casualty Damage" means any Casualty Damage which reasonably shall cost more than Five Hundred Thousand Dollars ($500,000.00) to repair or restore. In the event Landlord elects not to restore such Substantial Casualty Damage, Tenant shall have the right to terminate this Lease (by delivering written notice of termination to Landlord within thirty (30) days after the casualty) and with Minimum Rent and Additional Rent, prorated to the date of the Casualty Damage and with the date of termination being no later than thirty (30) days after such notice is given. Upon said termination, Landlord and Tenant shall be released from all further obligations thereafter accruing; but such termination shall, in no event, release either party from any liability to the other which has accrued prior to such termination. Alternatively, in the event Landlord elects not to restore such Substantial Casualty Damage and Tenant elects not to terminate this Lease, Minimum Rent and Additional Rent shall be suspended for the period during which the Leased Premises are not fit for business purposes, but only to the extent of Landlord's recovery under the rent loss coverage of the business income insurance maintained for Landlord's benefit; and if the Casualty Damage renders only part of the Leased Premises unfit for Tenant's normal business purposes and Tenant elects to operate its business in the remaining part, then the Minimum Rent and Additional Rent shall be apportioned on a per square foot basis and the proportion thereof applicable to each part of the Leased Premises upon which Tenant discontinues its business operations shall be abated, but only to the extent of Landlord's recovery under the rent loss coverage of the business income insurance maintained for Landlord's benefit, for the period during which such part is not fit for Tenant's normal business purposes or during which Tenant discontinues business operations. If Tenant has paid Minimum Rent or Additional Rent in advance, Landlord shall immediately repay to Tenant a...
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Damage During Last Year. Notwithstanding anything to the contrary herein, if a casualty occurs during the last year of the Lease Term (or any extension thereof), which casualty cannot be repaired in the reasonable opinion of Landlord within 90 days after the date of the casualty, Tenant shall have the right to terminate the Lease effective as of the date of casualty by giving Landlord notice of such termination within 30 days after Tenant’s receipt of Landlord’s notice specifying the estimated rebuilding period, as required under subparagraph A, above.
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Related to Damage During Last Year

  • Allocations During the Revolving Period During the Revolving Period, the Servicer shall, prior to the close of business on the day any Collections are deposited in the Collection Account, allocate to the Investor Certificateholders or the Holder of the Seller Interest and pay or deposit from the Collection Account the following amounts as set forth below:

  • Allocations During Period of Liquidation During the period commencing on the first day of the Fiscal Year during which a Dissolution Event occurs and ending on the date on which all of the assets of the Company have been distributed to the Unit Holders pursuant to Section 10.2 of this Agreement (the “Liquidation Period”), the Unit Holders shall continue to share Profits, Losses, gain, loss and other items of Company income, gain, loss or deduction in the manner provided in Article III of this Agreement.

  • Allocations During the Rapid Amortization Period During the Rapid Amortization Period, the Servicer shall, prior to the close of business on the day any Collections are deposited in the Collection Account, allocate to the Investor Certificateholders and pay or deposit from the Collection Account the following amounts as set forth below:

  • Death During Benefit Period If the Executive dies after the benefit payments have commenced under this Agreement but before receiving all such payments, the Company shall pay the remaining benefits to the Executive's beneficiary at the same time and in the same amounts they would have been paid to the Executive had the Executive survived.

  • Allocations During the Early Amortization Period During the Early Amortization Period, an amount equal to the product of (A) the Principal Allocation Percentage and (B) the Series 1997-1 Allocation Percentage and (C) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date, shall be allocated to the Series 1997-1 Certificateholders and retained in the Collection Account until applied as provided herein; provided, however, that after the date on which an amount of such Collections equal to the Adjusted Invested Amount has been deposited into the Collection Account and allocated to the Series 1997-1 Certificateholders, such amount shall be first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor Certificates only if the Transferor Amount on such date is greater than the Required Transferor Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account.

  • Allocations During the Controlled Accumulation Period During the Controlled Accumulation Period (A) an amount equal to the product of (I) the sum of the Class B Principal Percentage and the Collateral Principal Percentage and (II) the Principal Allocation Percentage and (III) the Series 2022-4 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date, shall be allocated to the Series 2022-4 Certificateholders and retained in the Collection Account until applied as provided herein and (B) an amount equal to the product of (I) the Class A Principal Percentage and (II) the Principal Allocation Percentage and (III) the Series 2022-4 Allocation Percentage and (IV) the aggregate amount of Collections of Principal Receivables deposited in the Collection Account on such Deposit Date (the product specified in this clause (B) for any such date is hereinafter referred to as a “Percentage Allocation”) shall be allocated to the Series 2022-4 Certificateholders and retained in the Collection Account until applied as provided herein; provided, however, that if the sum of such Percentage Allocation and all preceding Percentage Allocations with respect to the same Monthly Period exceeds the Controlled Deposit Amount during the Controlled Accumulation Period for the related Distribution Date, then such excess shall not be treated as a Percentage Allocation and shall be first, if any other Principal Sharing Series is outstanding and in its amortization period or accumulation period, retained in the Collection Account for application, to the extent necessary, as Shared Principal Collections on the related Distribution Date, and second paid to the Holders of the Transferor Certificates only if the Transferor Amount on such Deposit Date is greater than the Required Transferor Amount (after giving effect to all Principal Receivables transferred to the Trust on such day) and otherwise shall be deposited in the Special Funding Account.

  • Sales During Pre-Settlement Period Notwithstanding anything herein to the contrary, if at any time on or after the time of execution of this Agreement by the Company and an applicable Purchaser, through, and including the time immediately prior to the Closing (the “Pre-Settlement Period”), such Purchaser sells to any Person all, or any portion, of any shares of Common Stock to be issued hereunder to such Purchaser at the Closing (collectively, the “Pre-Settlement Shares”), such Purchaser shall, automatically hereunder (without any additional required actions by such Purchaser or the Company), be deemed to be unconditionally bound to purchase, and the Company shall be deemed unconditionally bound to sell, such Pre-Settlement Shares to such Purchaser at the Closing; provided, that the Company shall not be required to deliver any Pre-Settlement Shares to such Purchaser prior to the Company’s receipt of the purchase price of such Pre-Settlement Shares hereunder; and provided further that the Company hereby acknowledges and agrees that the forgoing shall not constitute a representation or covenant by such Purchaser as to whether or not during the Pre-Settlement Period such Purchaser shall sell any shares of Common Stock to any Person and that any such decision to sell any shares of Common Stock by such Purchaser shall solely be made at the time such Purchaser elects to effect any such sale, if any.

  • Advance During Bankruptcy and Foreclosure During litigation, bankruptcy proceedings or foreclosure proceedings pertaining to any Mortgage Loan or while REO transferred to the Trustee through foreclosure or a deed-in-lieu of foreclosure is held by the Trustee or its successors, the Servicer must continue to make monthly P&I Advances in respect of each such Mortgage Loan or REO to the respective Custodial P&I Account. Subject to the provisions of Section 17.1.2 hereof, these P&I Advances must be made until the (i) Liquidation of each Mortgage Loan subject to such proceedings or (ii) in the case of REO transferred to the Trustee through foreclosure or a deed-in-lieu of foreclosure, the Liquidation of such REO. Advances with respect to REO shall be made as if the related Mortgage Loan and Mortgage Note remained in effect.

  • Death During Payment of a Benefit If the Executive dies after any benefit payments have commenced under Article 2 of this Agreement but before receiving all such payments, the Company shall pay the remaining benefits to the Beneficiary at the same time and in the same amounts they would have been paid to the Executive had the Executive survived.

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