Destruction or Condemnation. Without limiting the effects described in Section 8.3, above, and if during the term hereof any Store is damaged or destroyed by a fire or other casualty or is partially acquired or condemned by right of eminent domain for any public or quasi-public use or purpose, this Agreement shall remain in full force and effect except that: in the event of such casualty, the License Fee for the affected Licensed Premises shall xxxxx (except to the extent that such fees are recoverable from insurance proceeds) pursuant to Section 4.3, above, from the date of destruction until the restoration and re-opening for business of the affected Store; and in the event of a partial condemnation, the License Fee for the affected Licensed Premises shall xxxxx equitably and proportionately from: the date of the physical taking in an amount upon which the parties shall mutually agree according to the nature and extent of the taking of the affected Store and the affected Licensed Premises, if any.
Destruction or Condemnation. If the Premises or Lessee Facilities are damaged, destroyed, condemned or transferred in lieu of condemnation (due to no cause or fault of its own), Lessee may elect to terminate this Agreement as of the date of the damage, destruction, condemnation or transfer in lieu of condemnation by giving notice to Lessor no more than forty-five (45) days following the date of such damage, destruction, condemnation or transfer in lieu of condemnation. If Lessee chooses not to terminate this Agreement, Rent shall be reduced or abated in proportion to the actual reduction or abatement of use of the Premises.
Destruction or Condemnation. Licensor and Licensee agree that Licensor shall in no way be liable for loss or use or other damage of any nature arising out of the loss, destruction or damage to the Premises or Licensee’s Equipment located thereon, by fire, explosion, windstorms, water or any other casualty or acts of third parties. In the event the Premises or any part thereof is damaged or destroyed by elements or any other cause, Licensor may elect to repair, rebuild, or restore the Premises or any part thereof, to at least the same condition as it was immediately prior to such casualty. In such event, the Fee shall cease as of the date of such casualty until the Premises, in Licensor’s opinion, is restored to a usable condition for Licensee’s operations. If Licensor chooses not to repair, restore or rebuild the Premises, Licensor shall send to Licensee a notice of cancellation of this License Agreement within thirty (30) days of such casualty. If this License Agreement is cancelled, the payments required herein shall terminate as of the date of such casualty.
Destruction or Condemnation. SECTION 11.01 - DESTRUCTION OF PREMISES If the Demised Premises are totally destroyed by fire or other casualty not resulting from the wrongful or negligent act of Tenant, either Landlord or Tenant may by written notice, given not later than thirty (30) days after the date of such total destruction, terminate this Lease, in which event rent paid for the period beyond the date of destruction shall be refunded to Tenant. If there is not total destruction and Tenant reasonably is required to close operation during repairs, rent shall xxxxx while so closed, but if Tenant is able to continue its operations during repairs, rent shall be adjusted and prorated in the proportion which the area of unusable leased space bears to the total Demised Premises, providing that Landlord shall not in such case have any liability for losses claimed by Tenant. However, if: (i) the damages are such that Landlord concludes that restoration cannot be completed within one hundred and fifty (150) days; or (ii) less than ten percent (10%) of the Lease Term Remains; or (iii) in Landlord's judgment, the cost of restoration will exceed the amount of one (1) years minimum rent for the Demised Premises or if the entire Building is damaged, one (1) year's minimum rent for the Entire Building; or (iv) if insurance carried by Landlord is in satisfaction of Section 8.01 is insufficient to restore the Demised Premises, Landlord and Tenant in the case of (i) and (ii) may at its option terminate this Lease. If the Demised Premises are damaged by cause due to fault or neglect of Tenant, its agents, employees, invitees, or licensees, there shall be no apportionment or abatement of rent. Landlord shall not be required to restore fixtures or improvements made or owned by Tenant that were not part of Landlord's Work or subsequently constructed in the Demised Premises by Landlord as part of the Lease terms. If the Lease is not terminated, Landlord shall restore the Demised Premises as promptly as is reasonably possible.
Destruction or Condemnation. By Buyer, if any of the Purchased Assets are damaged, destroyed or taken, and if such damage, destruction or condemnation is not "Non-Material" as such term is described in Section 6.11.
Destruction or Condemnation. (a) If on or prior to the date set for Closing there is a casualty or condemnation affecting the Property which constitutes a Substantial Loss, Purchaser shall have the option of cancelling this Contract within fifteen (15) days after notice of such casualty or condemnation, in which event, the Deposit shall be returned to the Purchaser and this Contract deemed cancelled and of no force and effect and neither party shall have any further rights or liabilities against or to the other. In the event of a Substantial Loss, and Purchaser does not elect to cancel this Contract, or in the event that the casualty or condemnation does not constitute a Substantial Loss, then the Purchaser and Seller shall consummate the transaction contemplated by this Contract without any reduction or abatement in the Purchase Price and Seller, upon the Closing, shall assign to the Purchaser all of its rights in and to any insurance proceeds (and shall pay to Purchaser, or allow on account the Purchase Price, a sum equal to the amount of the deductible, if any, on Seller's casualty insurance policy for the Premises) or condemnation awards, as the case may be, in connection with such casualty or condemnation.
Destruction or Condemnation. In the event of the destruction or condemnation of any or all of the Owner’s Land, the Owner shall at Owner’s expense restore the premises to the same condition as prior to the destruction if it can be reasonably restored. If it cannot be reasonably restored this Agreement shall terminate as to that portion of Owner’s Land. In the event of condemnation this License shall terminate as to the condemned portion and be of no further force or effect, but both Owner and Mauna Loa may pursue their separate rights against the condemning authority.
Destruction or Condemnation. (a) In the event that any Tower is destroyed or damaged by fire, lightning, windstorm, flood, earthquake, explosion, collapse, aircraft or other vehicle damage or other casualty, Licensor shall, unless it elects to terminate the related License with respect to the affected Tower as hereinafter provided, promptly reconstruct or repair the Tower to substantially the same condition as existed before the destruction or damage and upon completion give possession to Licensee of substantially the same space licensed under the affected License. If the Tower is in need of such repair or is so damaged by fire, lightning, windstorm, flood, earthquake, explosion, aircraft or other vehicle damage, collapse or other casualty that reconstruction or repair cannot reasonably be undertaken without dismantling Licensee's Equipment, then Licensor may, upon giving written notice to Licensee, remove any Licensee's Equipment and interrupt the signal activity of Licensee but will use reasonable efforts to have Licensee's Equipment replaced as soon as reasonably possible. Licensee will be afforded the right, at Licensee's sole cost and expense, to install temporary facilities pending repairs, provided such temporary facilities do not interfere in any way with the construction, rebuilding or operation of the Tower. Licensor agrees to provide Licensee alternative space, if available, on the Tower during such reconstruction/repair period. If Licensor elects not to restore the Tower within four (4) months from the date of any casualty, Licensor may, by notice to Licensee, terminate the License Term of the affected License effective on the date of such casualty. Licensor shall give Licensee such notice promptly following such election not to restore the Tower. Notwithstanding the foregoing, during such four (4) month period following the date of any casualty, if Licensee's operation has been materially disrupted for thirty (30) or more Days and such material disruption was not the result of Licensee's actions or inactions and such disruption can not be avoided by Licensee in a commercially reasonable manner, then Licensee upon written notice to Licensor may terminate the License Term of the affected License. If Licensor elects to restore the Tower, should Licensor not substantially restore or replace the Tower in a fashion sufficient to allow Licensee to replace Licensee's Equipment thereon within four (4) months of the date of casualty provided that such four (4) month period shall be...
Destruction or Condemnation. If the Premises or Lessee's Facilities --------------------------- are damaged, destroyed, condemned or transferred in lieu of condemnation, Lessee may elect to terminate the affected Site Lease as of the date of the damage, destruction, condemnation or transfer in lieu of condemnation by giving notice to Lessor no more than forty-five (45) days following the date of such damage, destruction, condemnation or transfer in lieu of condemnation.
Destruction or Condemnation. In the event of destruction or damage to any of the Premises, either in whole or in part, which would prevent the use or occupancy of any of the Premises for the intended purpose of this Lease Addendum, the Bank may terminate this Lease Addendum with ten (10) days written notice to Lessor. In the event that any zoning or land use classification arises and becomes effective as would in the reasonable exercise of either party's judgement, prevent the use or occupation of any of the Premises for the intended purpose under this Lease Addendum, then either party may terminate this Lease Addendum by providing ten (10) day's written notice to the other party. In such an event of termination, Lessee shall be responsible for the removal of Lessee's equipment.
