DESTRUCTION BY FIRE. If the premises shall be partially damaged by fire or other casualty, the damages shall be repaired by and at the expense of the Lessor and the rent until such repairs are made shall be apportioned according to the part of the demised premises which is usable by the Lessee. Said repairs shall be made promptly except that no penalty shall accrue for reasonable delay which may arise by reason of adjustment of insurance on the part of the Lessor and/or Lessee and for reasonable delay on account of labor problems or any other cause beyond the Lessor's control. If 12 the premises are totally damaged or rendered wholly untenable by fire or other casualty, rent shall abatx xxxil restoration or rebuilding and the Lessor shall promptly restore or rebuild the same on condition, however, that if at any time, during the last two (2) years of the term hereof, the demised premises are totally damaged or rendered wholly untenable by fire or other casualty, then Lessor shall have the right and option of terminating this lease as of the date of such casualty or cause within sixty (60) days thereafter by giving written notice to the Lessee and any rents or other payments shall be prorated as of the effective date of such termination and proportionately refunded to Lessee or paid to Lessor as the case may be. For the purpose of paying the cost of repairs, replacement or rebuilding, Lessor, its mortgagees (to the extent the mortgagees on the property so allow), and Lessee shall make available all net sums received by them under insurance policies covering such loss in reimbursement for work and materials actually incorporated in the premises.
DESTRUCTION BY FIRE. Should the demised building be destroyed or rendered totally unfit for use and occupancy by fire or other casualty, this lease shall thereupon terminate. Should the demised building be partially destroyed or rendered partially unfit for use and occupancy by fire or other casualty, the rental shall be reduced proportionately thereto until the same are rendered for use and occupancy.
DESTRUCTION BY FIRE. 10.1 Subject to the provisions of Article 10.4 and to the availability of insurance proceeds, if the Improvements, or any portion thereof, are damaged or destroyed by fire or other casualty, however or by whomever caused, Landlord shall repair, rebuild, and restore the same with due diligence and dispatch (subject to the approval of the holders of any mortgages on the Property) so that the Improvements will be restored to at least the same good order and condition as existed prior to damage or destruction. If more than fifty percent (50%) of the Premises is damaged or destroyed by fire or other casualty, Landlord shall have the option, in its sole discretion, to decline to rebuild the Premises. If Landlord so declines, this Lease shall terminate as of the date of such damage or destruction. If Landlord elects to repair the Premises, and if such damage in the reasonable opinion of the Landlord renders the entire Premises unfit for Tenant's normal business purposes, and Tenant by reason thereof discontinues business in the Premises, Base Rent shall be abated for a period during which no part of the Premises is fit for such business purposes and during which time Tenant discontinues business. If such damage renders only part of the Premises unfit for Tenant's normal business purposes, Base Rent shall be apportioned on a square foot of Premises area basis and the proportion thereof applicable to each part of the Premises upon which Tenant discontinues its business operations shall be abated for the period during which such part is not fit for Tenant's normal business purposes and during which Tenant discontinues such business operations.
DESTRUCTION BY FIRE. 10.1) Subject to the provisions of Article 10.4, if the Improvements, or any portion thereof, are damaged or destroyed by fire or other casualty, however or by whomever caused, Landlord shall repair, rebuild and restore the same with due diligence and dispatch (subject to the approval of the holders of any mortgages on the Property) so that the Improvements will be restored to at least the same good order and condition as existed prior to damage or destruction. If more than twenty-five percent (25%) of the Leased Premises is damaged or destroyed by fire or other casualty, Landlord shall have the option, in its sole discretion, to decline to rebuild the Leased Premises. If Landlord so declines, this Lease shall terminate as of the date of such damage or destruction. If such damage renders only part of the Leased Premises unfit for Tenant's normal business purposes, Base Rent and any additional rent shall remain unabated.
DESTRUCTION BY FIRE or Other Causes, Insurance - LESSOR shall provide and maintain adequate insurance on the Premises in an amount determined by LESSOR against loss or damage by fire, lightning, tornado or other casualty. LESSEE shall reimburse to LESSOR the commercially reasonable cost incurred in obtaining and maintaining this insurance for the demised Premises, which shall not include any earthquake or flood insurance premiums, deductibles in excess of $10,000, or co-insurance payments. LESSEE shall provide all insurance covering its contents and personalty separately. In the event of damage to or destruction of the Premises or a portion thereof by fire, or other cause so that the Premises cannot in the fair estimate of either party be restored within sixty (60) days, either party may terminate this Lease by written notice given thirty (30) days after the event; and rents and other sums payable by LESSEE for the remainder of the term shall wholly xxxxx. If the Premises can be restored in sixty (60) working days, LESSOR will undertake immediately the repair and reconstruction of the Premises at LESSOR's expense and will complete such work with due and reasonable diligence. During the period commencing with the date the damage occurred and ending with completion of the requisite repairs or reconstruction, the rent payable hereunder shall equitably xxxxx and the obligation of the LESSEE to pay the same shall cease to the extent and in proportion to the area rendered untenantable by the damage or by the work or restoration or repair.
DESTRUCTION BY FIRE. The parties hereto mutually agree that if the improvements upon the demised premises be damaged by fire or other cause insured against by LANDLORD, TENANT shall meanwhile be entitled to an abatement of rent to the extent of the loss of use suffered by it. LANDLORD will repair the said damages as promptly as practicable, under the supervision of TENANT's engineering department. In the event of the destruction (meaning by "destruction" damage to the extent of seventy-five (75%) percent or more of its value) of the said building by fire or other cause insured against, either party may, at its option, cancel and terminate this lease by giving to the other written notice thereof at any time within thirty (30) days after the date of such destruction.
DESTRUCTION BY FIRE. In the event that the Demised Premises shall be damaged or destroyed by fire, the elements or other casualty during the lease term, then in that event either the Landlord or the Tenant shall have the right to cancel and terminate this lease with the rents to be adjusted as of the date said lease is terminated. Upon such termination, neither party shall have any rights against or obligations to the other party.
DESTRUCTION BY FIRE. Should the buildings upon the within Premises be ------------------- totally destroyed by fire or other cause or so damaged that the restoration or repair of same cannot be completed within one hundred twenty (120) days from the date of the happening of any such casualty, this Lease shall terminate, and the Lessee shall be allowed an abatement of rent from the date of such damage or destruction, and shall be relieved of the liability for the payment of any rent installments falling due thereafter, and in the event notes are given for said installments, said notes shall be delivered to the Lessee; however, if the damage is such that rebuilding or repairs can be completed within ninety (90) days, the Lessor agrees to rebuild and to make such repairs with reasonable promptness and dispatch, and to allow the Lessee an abatement in the rent for such time as the building is untenable, and as soon as the building is restored and repairs completed, the Lessee agrees to take possession of the same and to resume the payment of the rent upon the same terms and conditions set forth for the unexpired Term of this Lease.
DESTRUCTION BY FIRE. In the event the premises shall be destroyed or so damaged or injured by fire or other casualty during the life of this agreement, whereby the same shall be rendered untenantable, then the Lessor shall have the right to render said premises tenantable by repairs within ninety (90) days therefrom. If said premises are not rendered tenantable within said time, it shall be optional with either party hereto, to cancel the lease, and in the event of such cancellation, the rent shall be paid only to the date of such fire or casualty. The cancellation herein mentioned shall be evidenced in writing.
DESTRUCTION BY FIRE. 15.1 Should the leased PREMISES be destroyed by fire or any other calamity in such a manner as to render the leased PREMISES untenantable by the LESSEE, the LESSORS shall, at their own costs and, provided they obtain payment of the proceeds of any Insurance Policy covering any such risk, be obliged to rebuild the leased PREMISES as expeditiously as possible, and the LESSEE shall not be liable for payment of rent in terms of this Lease during the period that the leased PREMISES may be untenantable.
