This excerpt taken from the GMCR 10-K filed Dec 13, 2007.
Casualty or Taking
7.1
Termination. In the event that the Premises or the Building, or any material part thereof, shall (a) be taken by any public authority or for any public use, or
(b) be destroyed or Substantially Damaged (as hereafter defined) by fire or casualty, or by the action of any public authority, or (c) be destroyed or damaged by fire or other casualty, or taking, and the net proceeds of insurance
recovered or damages awarded is insufficient to pay for the cost of restoration work, then this Lease may be terminated at the election of Landlord. As used herein, the term “Substantially Damaged” shall mean that more that 25% of the
rentable floor area of the Building has been destroyed or rendered untenantable. Such election, which may be made notwithstanding the fact that Landlord’s entire interest may have been divested, shall be made by the giving of notice by Landlord
to Tenant within sixty (60) days after the date of the taking or casualty. Notwithstanding the foregoing, if Landlord elects to terminate this Lease because the Building is Substantially Damaged by fire or casualty, or by the action of any
public authority, or because the net proceeds of insurance or damages awarded are insufficient for the restoration work, and in either case the Premises are not damaged or affected, then Landlord shall only be permitted to terminate this Lease if it
so terminates the leases of all other tenants of the Building. In the event that the Premises are destroyed or damaged by fire or casualty, or if there is a taking of a material part of the Premises or Building, and, in the reasonable opinion of an
independent architect or engineer selected by Landlord, cannot be repaired or restored within three hundred and sixty five (365) days from the date of such event, then this Lease may be terminated at the election of Landlord or Tenant, which
election shall be made by the giving of notice to the other party within thirty (30) days after the date the opinion of the architect or engineer is made available to the parties.
7.2
Restoration. If Landlord does not elect to so terminate, this Lease shall continue in force and a just proportion of the rent reserved, according to
the nature and extent of the damages sustained by the Premises, shall be suspended or abated until the Premises, or what may remain thereof, shall be put by Landlord in proper condition for use, which Landlord covenants to do with reasonable
diligence to the extent permitted by the net proceeds of insurance recovered or damages awarded for such taking, destruction or damage and
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subject to zoning and building laws or ordinances then in existence. “Net proceeds of insurance recovered or damages awarded” refers to the gross
amount of such insurance or damages less the reasonable expenses of Landlord incurred in connection with the collection of the same, including without limitation, fees and expenses for legal and appraisal services. Notwithstanding anything herein to
the contrary, if Landlord for any reason (including any of the reasons described in Section 10.5 below) shall not have restored the Premises within three hundred and sixty five (365) days from the date of such event, and such failure is
not a result of delays caused by Tenant, Tenant shall have the right to terminate this Lease by giving notice of such termination to Landlord, effective at the expiration of thirty (30) days from the giving of such notice; provided however,
that such termination will be rendered ineffective if, prior to the expiration of said 30-day period, Landlord shall have completed such restoration.
7.3
Award. Irrespective of the form in which recovery may be had by law, all rights to damages or compensation shall belong to Landlord in all cases. Tenant hereby grants
to Landlord all of Tenant’s rights to such damages and covenants to deliver such further assignments thereof as Landlord may from time to time request.
