Casually. In the event of total or partial destruction of the Building or the Leased Premises by fire or other casualty, Landlord agrees to promptly restore and repair the Leased Premises; provided, however, Landlord's obligation hereunder shall be limited to the reconstruction of such of the tenant finish improvements as were originally required to be made by Landlord, if any. Rent shall proportionately xxxxx during the time that the leased Premises or part thereof are unusable because of any such damage. Notwithstanding the foregoing, if the Leased Premises are (i) so destroyed that they cannot be repaired or rebuilt within one hundred eighty (180) days from the casualty date; or (ii) destroyed by a casualty which is not covered by the insurance required hereunder or, if covered, such insurance proceeds are not released by any mortgagee entitled thereto or are insufficient to rebuild the Building and the Leased Premises; then, in case of a clause (i) casualty, either Landlord or Tenant may, or, in the case of a clause (ii) casualty, then Landlord may, upon thirty (30) days' written notice to the other party, terminate this Lease with respect to matters thereafter accruing.
Casually. Except as otherwise provided in this Agreement, Sellers assume all risks and liability for damage to or injury occurring to the Properties by fire, storm, accident, or any other casualty or cause until the Closing has been consummated. If the Properties, or any part thereof, suffers any damage in excess of $2,000,000.00 or in any amount that would allow any of the Major Tenants to xxxxx rent or terminate their lease prior to the Closing from fire or other casualty which Sellers, at their sole option, does not elect to repair, Purchaser may either at or prior to Closing (a) terminate this Agreement and receive a full refund of the Xxxxxxx Money, or (b) consummate the Closing, in which latter event all of Sellers’ right, title and interest in and to the proceeds of any insurance covering such damage to the extent the amount of such insurance does not exceed the Purchase Price, shall be assigned to Purchaser at the Closing and Purchaser shall receive a credit for the deductible. If the Property, or any part thereof, suffers any damage equal to or less than $2,000,000.00 prior to the Closing, Purchaser agrees that it will consummate the Closing and accept the assignment of the proceeds of any insurance covering such damage plus an amount equal to Sellers’ deductible under its insurance policy and there shall be no reduction in the Purchase Price.
Casually. In the event any Property suffers damage or destruction subsequent to the Effective Date, but prior to the Closing Date, Seller shall elect either (i) to repair or make adequate provision for the repair of such Property prior to Closing or (ii) to reimburse Purchaser by an amount agreed upon by Seller and Purchaser to represent the reduction in the real estate value of the Property by reason of the casualty.
