Common use of Insufficient Proceeds Clause in Contracts

Insufficient Proceeds. If Landlord does not receive sufficient insurance proceeds (excluding the amount of any policy deductible) to repair all damage to the Premises or the Property caused by any Casualty, or if Landlord's lender does not allow Landlord to use sufficient proceeds to repair all such damage, then notwithstanding anything to the contrary in Sections 11.1, 11.2 and 11.3, Landlord may, at Landlord's option, by notifying Tenant within 30 days after the Casualty, terminate this Lease effective on the date 60 days after the date of Landlord's notice.

Appears in 2 contracts

Samples: Lease Agreement (Wells Real Estate Fund Xiii L P), Warehouse Lease Agreement (Advanced Digital Information Corp)

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Insufficient Proceeds. If Notwithstanding any contrary language in this Article 11, if Landlord does not receive sufficient insurance proceeds (excluding the amount of any policy deductible) to repair all damage to the Premises or the Property Building caused by any Casualtyfire or other casualty, or if Landlord's ’s lender does not allow Landlord to use sufficient insurance proceeds to repair all such damage, then notwithstanding anything to the contrary in Sections 11.1, 11.2 and 11.3, Landlord may, at Landlord's ’s option, by notifying giving Tenant written notice within 30 thirty (30) days after the Casualtycasualty, terminate this Lease effective on the date 60 thirty (30) days after the date of Landlord's ’s notice.

Appears in 1 contract

Samples: Office Lease Agreement (CaliberCos Inc.)

Insufficient Proceeds. If Notwithstanding any contrary language in this Article 11, if Landlord does not receive sufficient insurance Insurance proceeds (excluding the amount of any policy deductible) to repair all damage to the Premises or the Property Building caused by any Casualtyfire or other casualty, or if Landlord's lender does not allow Landlord to use sufficient proceeds to repair all such damage, then notwithstanding anything to the contrary in Sections 11.1, 11.2 and 11.3, Landlord may, at Landlord's option, by notifying Tenant within 30 days after the Casualtycasualty, terminate this Lease effective on the date 60 30 days after the date of Landlord's notice.

Appears in 1 contract

Samples: Office Lease Agreement (Saleslogix Corp)

Insufficient Proceeds. If Landlord does not receive sufficient insurance proceeds (excluding including the amount of any policy deductible) to repair all damage to the Premises or the Property caused by any Casualty, or if Landlord's ’s lender does not allow Landlord to use sufficient proceeds to repair all such damage, then notwithstanding anything to the contrary in Sections 11.1, 11.2 and 11.3, Landlord may, at Landlord's ’s option, by notifying Tenant within 30 sixty (60) days after the Casualty, terminate this Lease effective on the date 60 sixty (60) days after the date of Landlord's ’s notice.

Appears in 1 contract

Samples: Office Lease Agreement (Fender Musical Instruments Corp)

Insufficient Proceeds. If Landlord does not receive sufficient insurance proceeds (excluding the amount of any policy deductible) to repair all damage to the Premises or the Property caused by any Casualty, or if Landlord's ’s lender does not allow Landlord to use sufficient proceeds to repair all such damage, then notwithstanding anything to the contrary in Sections 11.1, 11.2 and or 11.3, Landlord may, at Landlord's ’s option, by notifying Tenant within 30 60 days after the Casualty, terminate this Lease effective on the date 60 30 days after the date of Landlord's ’s notice.

Appears in 1 contract

Samples: Warehouse Lease Agreement (Honest Company, Inc.)

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Insufficient Proceeds. If Landlord does not receive sufficient insurance proceeds (excluding including the amount of any policy deductible) to repair all damage to the Premises or the Property caused by any Casualty, or if Landlord's lender does not allow Landlord to use sufficient proceeds to repair all such damage, then notwithstanding anything to the contrary in Sections 11.1, 11.2 and 11.3, Landlord may, at Landlord's option, by notifying Tenant within 30 days after the Casualty, terminate this Lease effective on the date 60 30 days after the date of Landlord's notice.

Appears in 1 contract

Samples: Lease Agreement (Brightpoint Inc)

Insufficient Proceeds. If Landlord does not receive sufficient insurance proceeds (excluding including the amount of any policy deductible) to repair all damage to the Premises or the Property caused by any Casualty, or if Landlord's ’s lender does not allow Landlord to use sufficient proceeds to repair all such damage, then notwithstanding anything to the contrary in Sections 11.1, 11.2 and 11.3, Landlord may, at Landlord's ’s option, by notifying Tenant within 30 60 days after the Casualty, terminate this Lease effective on the date 60 days after the date of Landlord's ’s notice.

Appears in 1 contract

Samples: Tenant Lease Agreement (SXC Health Solutions Corp.)

Insufficient Proceeds. If Notwithstanding any contrary language in this Article 11, if Landlord does not receive sufficient insurance proceeds (excluding the amount of any policy deductible) to repair all damage to the Premises or the Property Building caused by any Casualtyfire or other casualty, or if Landlord's ’s lender does not allow Landlord to use sufficient proceeds to repair all such damage, then notwithstanding anything to the contrary in Sections 11.1, 11.2 and 11.3, Landlord may, at Landlord's ’s option, by notifying Tenant within 30 60 days after the Casualtycasualty, terminate this Lease effective on the date 60 days after the date of Landlord's ’s notice.

Appears in 1 contract

Samples: Office Lease Agreement (Shopping Com LTD)

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