Casualty and Insurance. (a) In the event of partial or total destruction of the Building or the Demised Premises by reason of fire or any other cause Tenant shall immediately after it becomes aware of such destruction notify Landlord of same and Landlord shall promptly restore and rebuild the Building or the Demised Premises at Landlord’s expense (but only to the extent of the insurance proceeds covering such damage), unless Landlord elects by notice to Tenant within ninety (90) days of said destruction not to restore and rebuild the Building or the Demised Premises, and, in such case, this Lease shall terminate. Notwithstanding the foregoing, Landlord shall not have the right to terminate this Lease if the destruction is limited to the Common Areas of the Building or, if in Landlord’s reasonable opinion, the Demised Premises can be restored to its original condition within one hundred eighty (180) days. If in Landlord’s reasonable opinion, as expressed in a notice to Tenant given within forty-five (45) days after such destruction, the Demised Premises cannot be restored to its original condition within one hundred eighty (180) days, or if the Demised Premises are not restored within two hundred seventy (270) days of the casualty (subject to Force Majeure), or if more than fifty percent (50%) of the Demised Premises are destroyed, Tenant shall have the right to cancel this Lease by providing written notice to Landlord of such cancellation within ten (10) days of receipt of such notice from Landlord, time being of the essence with respect to such notice, and such termination shall be effective thirty (30) days after the date of such notice, provided, however, that Landlord may nullify any such notice by completing such restoration and rebuilding within such thirty (30) day period. In the event the Demised Premises are totally or materially destroyed during the last twelve (12) months of the Term or last twelve (12) months of any extensions or renewals thereof, unless Tenant shall have exercised any further renewal options herein prior to such fire or destruction so that this Lease, including only irrevocably exercised renewals, has a remaining Term of more than twelve (12) months, either Landlord or Tenant shall have the right to cancel this Lease by providing written notice to the other of such cancellation within ten (10) days of such fire or destruction, time being of the essence with respect to such notice, and such termination shall be effective thirty (30) days after the dat...
Casualty and Insurance. 15 11. Indemnification.............................................18 12.
Casualty and Insurance. (a) If the Sublease Property is damaged or destroyed by fire, flood, tornado or other element, or by any other casualty , this Sublease shall continue in full force and effect and Tenant shall, as promptly as possible, restore, repair or rebuild the Sublease Property to substantially the same condition as it existed before the damage or destruction. Tenant shall for this purpose use all, or such part as may be necessary, of the insurance proceeds received from insurance policies carried on the Premises under the provision of subparagraph 10(b) hereinbelow. If such insurance proceeds are not sufficient to pay such costs, Tenant shall pay such deficit. Notwithstanding the foregoing, in the event there is damage or destruction to the Improvements on the Subleased Property to the extent of fifty percent (50%) or more of the then existing value thereof, the Tenant may, at its option, terminate this Sublease and elect not to repair and rebuild the damaged Improvements; but in any such event, all of the proceeds from the insurance policies required to be obtained pursuant to the provisions of Subparagraph 10(b) herein below shall belong exclusively to the Landlord. If Tenant elects to so terminate this Sublease, written notice must be given to Landlord within thirty (30) days following the damage or destruction to the Improvements.
Casualty and Insurance. (a) Landlord shall maintain property damage and civil liability insurance policies in scope and amounts over the Building as it deems prudent.
Casualty and Insurance. (a) In the event of partial or total destruction of the Building or the Demised Premises by reason of fire or any other cause, Tenant shall immediately notify Landlord of same and Landlord shall promptly restore and rebuild the Building or the Demised Premises at Landlord's expense (but only to the extent of the insurance proceeds covering such damage) unless Landlord elects by notice to Tenant within ninety (90) days of said destruction not to restore and rebuild the Demised Premises, and, in such case, this Lease shall terminate. If Landlord elects to restore and rebuild the Demised Premises, then during the period of restoration of any such area, and, if any portion of Demised Premises are rendered untenantable by said damage, Tenant shall be relieved of the obligation to pay that portion of the rent herein reserved which relates to said untenantable area.
Casualty and Insurance. 11. A. Partial destruction of the leased premises shall not render this lease void or voidable, or terminate it except as herein provided. If the leased premises are partially destroyed during the term of this lease, Lessor shall repair same, to the extent that he receives any insurance proceeds for such repairs; provided however, Lessor shall do so only if such repairs can be made in conformity with local, state and federal laws and regulations within one hundred twenty (120) days of the partial destruction. Rent for the leased premises will be reduced proportionately to the extent to which the repair operations interfere with the Lessee’s normal use and occupancy of the premises. If the repairs cannot be so made within the time limited, Lessor has the option to make them within a reasonable time and continue this lease in effect with proportional rent rebated to Lessee as provided for herein. If the repairs cannot be so made in one hundred twenty (120) days and if Lessor does not elect to make them within a reasonable time, either party hereto has the option to terminate this lease. If the leased premises are totally destroyed, either party hereto has the option to terminate this lease.
Casualty and Insurance. Section 7.01 Substantial Destruction 13 Section 7.02 Partial Destruction 13
Casualty and Insurance. (a) In the event of partial or total destruction of the Building or of the Demised Premises by reason of fire or any other cause (a "Casualty"), Tenant shall immediately
Casualty and Insurance. Paragraphs 7.01 and 7.02 are modified to change "ninety (90) working days" to "one hundred eighty (180) days."
Casualty and Insurance. (a) The Acquired Companies shall maintain until Closing all existing insurance policies (the “Company Policies”) relating to the Plant, and the Acquired Companies’ other assets, at their sole cost and expense.
