Right to Adjust. (a) If the Property is damaged or destroyed, in whole or in part in any material respect, by a Casualty, Borrower shall give prompt written notice thereof to Lender, generally describing the nature and extent of such Casualty. Following the occurrence of a Casualty, Borrower, regardless of whether proceeds are available, shall in a reasonably prompt manner proceed to restore, repair, replace or rebuild the Property to the extent practicable to be of at least equal value and of substantially the same character as prior to the Casualty, all in accordance with the terms hereof applicable to Alterations.
Right to Adjust. (i) If any Leased Property is damaged or destroyed, in whole or in part, by fire or other casualty (a "Casualty"), Tenant shall give prompt written notice thereof to Landlord generally describing the nature and extent of such Casualty. Subject to Section 10.2(b), following the occurrence of a Casualty, Tenant, regardless of whether proceeds are available, shall in a reasonably prompt manner proceed to restore, repair, replace or rebuild the affected Leased Property to the extent practicable to be of at least equal value and of substantially the same character and quality as prior to the Casualty, all in accordance with the terms hereof applicable to Alterations.
Right to Adjust. (i) If any Leased Property is damaged or destroyed, in whole or in part, by fire or other casualty (a “Casualty”), Tenant shall give prompt written notice thereof to Landlord generally describing the nature and extent of such Casualty. Subject to Section 10.2(c), following the occurrence of a Casualty, Tenant, regardless of whether sufficient insurance proceeds are available to Tenant for restoration, shall in a reasonably prompt manner proceed to restore, repair, replace or rebuild the affected Leased Property (a “Restoration”) or cause such Restoration to the extent practicable to be of substantially the same character and quality as prior to the Casualty. Tenant shall restore or cause to be restored all Improvements such that when they are fully restored and/or repaired, such Improvements and their contemplated use fully comply with all applicable material Legal Requirements. Tenant shall not be obligated to restore or replace Tenant’s Property or any alterations or additions to the Leased Property made by Tenant, unless, with respect to such alterations or additions, the same were Required Alterations. Tenant may settle and adjust the insurance claim in respect of any Casualty.
Right to Adjust. If, prior to the Closing Date, all or any significant portion (as hereinafter defined) of any Facility is taken by eminent domain (or is the subject of a pending taking which has not yet been consummated), Prudential shall notify Meridian in writing of such fact promptly after obtaining knowledge thereof, and Meridian shall have the right to terminate this Agreement by giving written notice to Prudential no later than ten (10) days after the giving of Prudential's notice, and the Closing Date shall be extended, if necessary, to provide sufficient time for Meridian to make such election. The failure by Meridian to so elect in writing to terminate this Agreement within such ten (10) day period shall be deemed an election not to terminate this Agreement. For purposes hereof, a "SIGNIFICANT PORTION" of a Facility shall mean (i) such portion as shall have a value, as reasonably determined by Prudential, in excess of One Hundred Thousand Dollars ($100,000.00) with respect to such Facility or (ii) such portion, the taking of which shall have a Material Adverse Effect on the operation of such Facility. If Meridian elects to terminate this Agreement as aforesaid, the provisions of Section 11.4 shall apply.
Right to Adjust. (i) If any portion of the Mortgaged Property is damaged or destroyed, in whole or in part, by fire or other casualty (a "Casualty") in -------- excess of $500,000, Borrower shall give prompt written notice thereof to Lender, generally describing the nature and extent of such Casualty. Following the occurrence of a Casualty, Borrower, regardless of whether proceeds are available, shall in a reasonably prompt manner proceed to restore, repair, replace or rebuild the affected Mortgaged Property to the extent practicable to be of at least equal value and of substantially the same character as prior to the Casualty, all in accordance with the terms hereof applicable to Alterations.
Right to Adjust. 46 11.1.2 Assignment of Proceeds......................................... 47 11.2
Right to Adjust. (i) If any Property is damaged or destroyed, in whole or in part, by a Casualty, Issuers shall give prompt written notice thereof to Note Trustee, generally describing the nature and extent of such Casualty. Following the occurrence of a Casualty, Issuers, regardless of whether proceeds are available, shall in a reasonably prompt manner proceed to restore, repair, replace or rebuild the affected Property to the extent practicable to be of at least equal value and of substantially the same character as prior to the Casualty, all in accordance with the terms hereof applicable to Alterations.
Right to Adjust. If Borrower fails to satisfy the requirements of subsection 2A.02(e) by the Liquidity Action Date, Xxxxxx Mae shall have the right, but not the obligation, to direct the Trustee on behalf of Borrower to adjust the interest rate on the related Bonds to a Reset Rate or a Fixed Rate. No exercise, failure to exercise or revocation of any exercise of the foregoing right by Xxxxxx Xxx shall be, or be deemed to be, a waiver of any right of Xxxxxx Mae under this Agreement, including the right to declare an Event of Default because of Borrower’s failure to comply with any of the requirements of this Section. Borrower hereby appoints Xxxxxx Xxx, acting through any officer of Xxxxxx Mae, as Borrower’s attorney-in-fact, with full authority in the place and stead of Borrower and in the name of Borrower or otherwise, from time to time in Xxxxxx Mae’s discretion, to take any action and to execute any instrument which Xxxxxx Mae may deem necessary or advisable to accomplish the purposes of this subsection, in each case that complies with Applicable Law and the related Indenture. The power of attorney established pursuant to this subsection shall be deemed coupled with an interest and shall be irrevocable.
Right to Adjust. The purpose of the site plan attached hereto as Exhibit "A" is to show the approximate location of the Premises. Notwithstanding any other provision contained in this Lease, Landlord reserves the right at any time to relocate, vary and adjust the size of the various buildings, the location of any tenant, including Tenant, automobile parking areas, and other common areas as shown on said site plan, provided, however, that said parking area (including landscaped and common areas) shall at all times provide for not less than two square feet for each square foot of ground floor building area within the Shopping Center.
Right to Adjust. (i) If any Realty or any material part thereof is damaged or destroyed, in whole or in part, by fire or other casualty (a “Casualty”), Borrower shall give prompt (but in any event within five (5) Business Days after the occurrence thereof) written notice thereof to the Administrative Agent, generally describing the nature and extent of such Casualty. Unless otherwise expressly provided in this Agreement, following the occurrence of a Casualty, Borrower, provided that sufficient Proceeds are available, shall promptly proceed to restore, repair, replace or rebuild (or cause to be restored, repaired, replaced or rebuilt) the portion(s) of such Realty to the extent practicable to be of at least equal value and of substantially the same character as prior to the Casualty, all in accordance with the terms hereof. Notwithstanding the foregoing, the Borrower shall not be required to restore such Realty if the Proceeds are used to prepay the Notes in full in accordance with the terms of this Agreement.
