Damage, Destruction or Condemnation. If the Dock or any portion thereof is at any time destroyed or damaged by a casualty, or if any portion of the Dock or adjacent parcels are taken pursuant to the exercise or threatened exercise of the power of eminent domain (including a conveyance in lieu thereof), Port may elect to terminate this Agreement.
Damage, Destruction or Condemnation. If the demised premises or any part thereof shall be damaged or destroyed by fire or other casualty, Landlord, to the extent of available insurance proceeds, shall promptly repair all such damage and restore the demised premises without expense to Tenant, subject to delays due to adjustment of insurance claims, strikes and other causes beyond Landlord's control. If such damage or destruction shall render the premises untenantable in whole or in part, the rent shall be abated wholly or proportionately as the case may be until the damage shall be repaired and the premises restored, unless such damage or destruction shall have been caused or actively contributed to by Tenant, its agents, servants, employees, invitees or licensees, in which case the rent shall not be abated to any extent whatsoever, If the 92 damage or destruction shall be so extensive as to require the substantial rebuilding (i.e., expenditure of fifty percent (50%) or more of replacement cost) of the building or buildings on the demised premises, Landlord may elect to terminate this lease by written notice to Tenant given within thirty (30) days after the occurrence of such damage or destruction. If in the judgment of Landlord such damage or destruction cannot be repaired and restored within ninety (90) days from date of destruction, Tenant shall have the right to terminate this lease upon written notice given within thirty (30) days following such date of destruction, providing that, Tenant shall have no right of termination if such damage or destruction has been caused or actively contributed to by Tenant, its agents, servants, employees, invitees or licensees. In the event of condemnation, by any governmental authority, of the leased premises or such part thereof as shall substantially impair the ability of Tenant to conduct its business, this lease and the obligations of the parties hereto shall terminate as of the date of occupancy by such governmental authority. All proceeds and awards of condemnation, whether received or judgment of any court, shall be exclusively paid to and owned by Landlord, who shall have the sole right to negotiate and conclude a settlement of the condemnation award or to litigate such award, in its sole discretion, provided, however, that Tenant shall be entitled to make claim in its own name to the condemning authority for the value of loss of business (to the extent that it does not reduce Landlord's award) and for the costs of relocating its business and of a...
Damage, Destruction or Condemnation. Net Proceeds resulting from casualty to or condemnation of the Project shall be applied as provided in the Continuing Covenant Agreement and, to the extent consistent therewith, Section 3.01(b)(i) hereof.
Damage, Destruction or Condemnation. With the exception of acts resulting from misconduct or negligence by Lessor, its agents and representatives, and except as otherwise provided in the Construction Services Agreement, the District assumes all risk of loss of, damage to or condemnation of the Project or the Site from any cause or for any reason whatsoever, and no such loss of, damage to or condemnation of the Project or the Site shall relieve the District of (i) the obligation to make the Sublease Payments hereunder subject to the provisions in Sections 7 and 9 hereof, or (ii) to perform any other obligation under this Sublease. Except as otherwise provided in the Construction Services Agreement, the District waives the benefit of Civil Code sections 1932(2) and 1933(4) and any and all other rights to terminate this Sublease by virtue of any damage or destruction to the Project or the Site.
Damage, Destruction or Condemnation. (a) In the event of damage to or destruction of any portion of the Project resulting from fire or other casualty during the Term, or in the event any portion of the District is condemned or taken for any public or quasi-public use or title thereto is found to be deficient during the Term, the net proceeds of any insurance relating to such damage or destruction, the net proceeds of such condemnation or taking or the net proceeds of any realization on title insurance shall be paid into, and used in accordance with a construction escrow agreement reasonably satisfactory to the City and Developer ("Casualty Escrow").
Damage, Destruction or Condemnation. If, before legal title or possession of the Property has been transferred to Buyer, any portion of the Property, which portion will cost more than $500,000 to restore is damaged or destroyed without fault of Buyer, then Buyer shall have the option to either (i) terminate this Agreement, in which event the rights and obligations of the parties hereunder shall terminate except as otherwise expressly set forth in this Agreement, and Buyer shall be entitled to a return of the Xxxxxxx Money Deposit less the Independent Consideration, or (ii) proceed with the purchase of the Property without any adjustment to the Purchase Price, in which latter case Seller shall assign to Buyer any amounts due from or pay to Buyer any amounts received from Seller's casualty insurance company as a result of the damage or destruction, excepting therefrom any amounts payable for lost rental or other income and shall credit the Purchase Price by the amount of Seller’s deductible with respect to such casualty insurance. In the event such damage will cost equal to or less than $500,000 to restore, then the transaction shall proceed in accordance with (ii) above. If, before legal title or possession of the Property has been transferred to Buyer, any portion of the Property with a value in excess of $500,000 is taken by eminent domain by any governmental entity, then Buyer shall have the option to either (a) terminate this Agreement, in which event the rights and obligations of the parties hereunder shall terminate except as otherwise expressly set forth in this Agreement, and Buyer shall be entitled to a return of the Xxxxxxx Money Deposit less the Independent Consideration, or (b) proceed with the purchase of the Property without any adjustment to the Purchase Price, in which latter case Seller shall assign to Buyer any amounts due from or pay to Buyer any amounts received from any governmental entity as a result of the taking. In the event the portion of the Property which is taken has a value of equal to or less than $500,000, then the transaction shall proceed in accordance with (b) above.
Damage, Destruction or Condemnation. (a) Unless provided otherwise in the Credit Agreement or Bank Mode Credit Agreement, in the event that at any time during the term of this Agreement the whole or part of the Prior Project shall be damaged or destroyed, or taken or condemned by a competent authority for any public use or purpose, or by agreement between the Company and those authorized to exercise such right, or if the temporary use of the Prior Project shall be so taken by condemnation or agreement (a “Loss Event”);
Damage, Destruction or Condemnation. In the event of damage or destruction of the Subleased Premises or the taking of all or any part thereof under the power of eminent domain, this Sublease shall terminate if, but only if, the Prime Lease is terminated as a result thereof, and the rent payable hereunder shall xxxxx only as long as and in the same proportion as the rent due from Sublessor to Landlord under the Prime Lease abates as a result thereof.
Damage, Destruction or Condemnation. The parties hereby agree as follows:
Damage, Destruction or Condemnation. Duty to Repair or Restore
