COMPLIANCE INFO_2002-2007 - Laserfiche WebLink

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Fixed Rent and Additional Rent required to be paid by Tenant hereunder shall not abate as a result of any casualty. Section 12.04 (a) Notwithstanding Section 12.01 above, if the Building is destroyed or damaged in excess of Twenty -Five percent (25%) of the replacement cost thereof, exclusive of foundation and footings, by fire or other casualty at any time during the last two (2) years of the Lease Term, then Tenant shall have the right, at its election, to terminate this Lease by giving Landlord written notice of termination within sixty (60) days after the date on which such damage or destruction occurs. Such termination shall be effective on the last day of the month following the month in which Tenant gives Landlord notice of its election to so terminate. In such event, Landlord shall be entitled to all insurance proceeds payable pursuant to the policy carried by Tenant pursuant to Section 11.01(b) above, except amounts payable with respect to Tenant's inventory, equipment and/or trade fixtures or moveable trade fixtures. (b) In the event of the termination of the Lease pursuant to Section 12.04(a) above, Tenant shall pay to Landlord, prior to such termination date, an amount equal to the Fixed Rent and any then accrued Additional Rent payable under this Lease to the date of such termination. With respect to any amounts of Additional Rent which are payable to Landlord in the event of such termination, but which are not then ascertainable, Tenant shall pay to Landlord an amount equal to such Additional Rent as and when the same is determined. The covenants and agreements with respect to the adjustment and payment of these items of Additional Rent shall survive the termination of this Lease. Jokso I I11f0� Section 13.01 If more than fifty percent (50%) of the Demised Premises, or access to or from the Demised Premises, shall be taken for any public or quasi -public use under any statute or by right of eminent domain, or by purchase in lieu thereof, then this Lease shall automatically terminate as of the date that possession has been so taken (the "Vesting Date"). Section 13.02 (a) In the event of a taking of less than fifty percent (50%) of the Demised, Tenant may elect to terminate this Lease and not restore the Demised Premises if, by reason of the taking: (i) twenty percent (20%) or more of the Demised Premises shall be taken, and as result of such taking, Tenant's business has been materially and adversely affected. (b) In the event Tenant elects by reason of any of the foregoing events described in this Article XIII to terminate the Lease, Tenant shall give written notice to Landlord of its intention to so terminate within ninety (90) days after formal notice of the proposed taking is given to Tenant, accompanied by the consent of any subtenant of the Demised Premises in whose favor Landlord has executed a non -disturbance agreement, and the term of this Lease shall expire and come to an end as of the last day of the calendar month following the month in which such notice is given. In the event the condemning authority revokes or terminates its condemnation proceeding, either Landlord or Tenant, prior to the date set for termination of this Lease, may, by notice to the other, elect to keep this Lease in full force and effect. In the event of such termination, however, Tenant shall pay to Landlord, prior to such termination date, an amount equal to the Fixed Rent and any then accrued Additional Rent payable under this -Lease 16