eTrade 2000 Annual Report Download - page 129

as reasonably determined by Landlord, then this Lease shall terminate as of the date of title vesting in such proceeding and Rent shall
be adjusted as of the date of termination. If such condemnation is not sufficiently extensive to render the Premises unusable for the
business of Tenant, as reasonably determined by, then Landlord shall promptly restore the Premises to a condition comparable to its
condition immediately prior to such condemnation less the portion thereof lost in such condemnation, and this Lease shall continue in
full force and effect, except that after the date of title vesting the Base Rent shall be proportionately reduced as reasonably determined
by Landlord. Notwithstanding the foregoing, in restoring the Premises to their original condition, Landlord shall not be required to
expend an amount greater than the product of (i) Tenant’ s Building Percentage Share and (ii) the total amount of any condemnation
proceeds for the Building received by Landlord. If any parking areas are Condemned, Landlord has the option, but not the obligation,
to supply Tenant with other parking areas.
13.3. Landlord’s Award. If the Premises are wholly or partially Condemned, then, subject to the provision of Section 13.4 below,
Landlord shall be entitled to the entire award paid in connection with such condemnation, and Tenant waives any right or claim to any
part thereof from Landlord or the condemning authority.
13.4. Tenant’s Award. Tenant shall have the right to claim and recover from the condemning authority, but not from Landlord, such
compensation as may be separately awarded or recoverable by Tenant in Tenant’ s own right on account of any and all costs which
Tenant might incur in moving Tenant’ s merchandise, furniture, fixtures, leasehold improvements and equipment to a new location.
13.5. Temporary Condemnation. If the whole or any part of the Premises shall be Condemned for any temporary public or
quasi-public use or purpose, this Lease shall remain in effect and Tenant shall be entitled to receive for itself such portion or portions
of any award made for such use with respect to the period of the taking which is within the Term. If a temporary condemnation
remains in force at the expiration or earlier termination of this Lease, Tenant shall pay to Landlord an amount equal to the reasonable
cost of performing any obligations required of Tenant by this Lease with respect to the surrender of the Premises, including, without
limitation, repairs and maintenance, and upon such payment Tenant shall be excused from any such obligations. If a temporary
condemnation is for an established period which extends beyond the Term and such temporary condemnation renders the Premises
unusable for the business of Tenant, as reasonably determined by this Lease shall terminate as of the date of occupancy by the
condemning authority, and the damages shall be as provided in Sections 13.3 and 13.4 and Rent shall be adjusted as of the date of
occupancy.
13.6. Notice and Execution. Landlord shall notify Tenant in writing immediately upon service of process in connection with any
condemnation or potential condemnation. Tenant shall immediately execute and deliver to Landlord all instruments that may be
required to effectuate the provisions of this Section 13.
14. DEFAULT
14.1. Events of Default. The occurrence of any of the following events shall constitute an “Event of Default” on the part of Tenant
with or without notice from Landlord:
(a) Abandonment . Tenant’ s abandonment of the Premises;
(b) Payment . Tenant’ s failure to pay any installment of Base Rent, Additional Rent or other sums due and payable hereunder by the
date such payment is due;
(c) Performance . Tenant’ s failure to perform any of Tenant’ s covenants, agreements or obligations under this Lease (other than a
failure to pay Rent or other sums), which default has not been cured within thirty (30) days after written notice thereof from Landlord;
(d) Assignment . A general assignment by Tenant for the benefit of its creditors;
(e) Bankruptcy . The commencement of a case or proceeding by Tenant or any of Tenant’ s creditors seeking the rehabilitation,
liquidation or reorganization of Tenant under any law relating to bankruptcy, insolvency or other relief of debtors;
(f) Receivership . The appointment of a receiver or other custodian to take possession of all or substantially all of Tenant’ s assets or
this leasehold;
(g) Insolvency, Dissolution, Etc . Tenant shall become insolvent or unable to pay its debts, or shall fail generally to pay its debts as
they become due; or any court shall enter a decree or order directing the winding up or liquidation of Tenant or of all or substantially
all of its assets; or Tenant shall take any action toward the dissolution or winding up of its affairs or the cessation or suspension of its
use of the Premises;
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