Damage and Destruction Sample Clauses
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Damage and Destruction. If all or any part of the Premises shall be damaged or destroyed by fire or other casualty, this Lease shall continue in full force and effect, unless terminated as hereinafter provided, and Landlord shall repair, restore or rebuild the Premises to the condition existing at the time of the occurrence of the loss; provided, however, Landlord shall not be obligated to commence such repair, restoration or rebuilding until insurance proceeds are received by Landlord, and Landlord’s obligation hereunder shall be limited to the proceeds actually received by Landlord under any insurance policy or policies, if any, less those amounts (i) which have been required to be applied towards the reduction of any indebtedness secured by a mortgage covering the Premises or any portion thereof, and (ii) which are used to reimburse Landlord for all costs and expenses, including but not limited to attorneys’ fees, incurred by Landlord to recover any such insurance proceeds. Tenant agrees to notify Landlord in writing not less than thirty (30) days prior, to the date Tenant opens for business in the Premises of the actual cost of all permanent leasehold improvements and betterments installed or to be installed by Tenant in the Premises (whether same have been paid for entirely or partially by Tenant), but exclusive of Tenant’s personal property, movable trade fixtures and inventory. Similar notifications shall be given to Landlord not less than thirty (30) days prior to the commencement of any proposed alterations, additions or improvements to the Premises. If Tenant fails to comply, with the foregoing provisions, any loss or damage Landlord shall sustain by reason thereof shall be borne by Tenant and shall be paid immediately by Tenant upon receipt of a ▇▇▇▇ therefore and evidence of such loss, and in addition to any other rights or remedies reserved by Landlord under this Lease, Landlord’s obligations under this Article to repair, replace and/or rebuild the Premises shall be deemed inapplicable, and in lieu thereof, Landlord may, at its election, either restore or require Tenant to restore the Premises to the condition which existed prior to such loss, and in either case Tenant shall pay the cost of such restoration. Tenant covenants and agrees to repair or replace Tenant’s fixtures, furniture, furnishings, floor coverings, equipment and stock in trade and reopen for business in the Premises within thirty (30) days after notice from Landlord that the Premises are ready for re...
Damage and Destruction. Subject to Section 8 A. above, if the Leased Premises or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Tenant's purposes, then Tenant shall have the right within ninety (90) days following damage to elect by notice to Landlord to terminate this Lease as of the date of such damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Tenant's purposes, Landlord shall promptly repair such damage at the cost of the Landlord. In making the repairs called for in this paragraph, Landlord shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary materials or labor or other matters which are beyond the reasonable control of Landlord. Tenant shall be relieved from paying rent and other charges during any portion of the Lease term that the Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Tenant's purposes. Rentals and other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further payments are to be made, any such advance payments shall be refunded to Tenant. The provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond Tenant's reasonable control and which renders the Leased Premises, or any appurtenance thereto, inoperable or unfit for occupancy or use, in whole or in part, for Tenant's purposes.
Damage and Destruction. (a) If the Licensed Space or any part thereof shall be damaged by fire or other casualty, Licensee shall give immediate notice thereof to Licensor and this Agreement shall continue in full force and effect, unless Licensor shall elect to terminate this Agreement as set forth below. In the event that this Agreement shall not be so terminated, Licensor shall restore the Licensed Space at Licensor's expense and the Licensee Fee and License Consideration shall be proportionately abated during the period in which Licensor is restoring the Licensed Space if all or any portion of the Licensed Space is unusable by Licensee for the purposes set forth in Paragraph 4 above during such period. Licensee's liability for the full amount of the Licensee Fee and License Consideration shall resume five (5) days after written notice from Licensor that the Licensed Space is substantially ready for Licensee's occupancy.
(b) In the event that the Licensed Space is rendered wholly or substantially unusable (whether or not the Licensed Space has been damaged in whole or in part) by fire or other casualty (of which fact Licensor shall be the sole judge), Licensor may elect to terminate this Agreement by written notice to Licensee given within sixty (60) days after such fire or casualty, specifying the date for the expiration of this Agreement, which shall be no more than thirty (30) days after the giving of such notice.
(c) If Licensor shall fail within thirty (30) days after notice by Licensee to Licensor of such casualty to restore the damaged portion of the Licensed Space to substantially the condition existing prior to such casualty, Licensee may elect to terminate this Agreement by written notice to Licensor given prior to completion of such restoration, specifying the date for the expiration of this Agreement, which shall be no more than thirty (30) days after the giving of such notice.
(d) Nothing contained herein shall relieve Licensee from liability that may exist as a result of damage from fire or other casualty. Notwithstanding the foregoing, each party shall look first to any insurance in its favor before making any claim against the other party for recovery for loss or damage resulting from fire or other casualty, and to the extent that such insurance is in force and collectible and to the extent permitted by law, Licensor and Licensee each hereby releases and waives all rights of recovery against the other or anyone claiming through or under the other, by way of subr...
Damage and Destruction. If, following delivery of possession of all or a portion of the Project by Developer to District, the Project is totally or partially destroyed due to fire, acts of vandalism, flood, storm, earthquake, Acts of God, or other casualty beyond the control of either party hereto, the Term shall end and District shall no longer be required to make any payments required pursuant to the GMP provisions indicated in Exhibit C that are then due or past due or any remaining and succeeding principal payments pursuant to the GMP provisions indicated in Exhibit C for the remainder of the original Term.
Damage and Destruction. 17 ARTICLE 12 NONWAIVER............................................... 19 ARTICLE 13
Damage and Destruction. A. If all or a portion of the Premises are partially damaged by fire, explosion, the elements, public enemy, or other casualty, but not rendered untenable, the same will be repaired with due diligence by the Board at its own cost and expense subject to the limitations set forth herein, provided, however, that if the damage is caused by the negligent act or omission of Concessionaire, its sublessees, agents, or employees, Concessionaire shall be responsible for immediately reimbursing the Board for the cost and expenses incurred in the repair.
B. If such damages shall be so extensive as to render all or a portion of the Premises untenable, but capable of being repaired in thirty (30) days, the Premises shall be repaired with due diligence by the Board at its own cost and expense, subject to the limitations as set forth herein, and rentals and fees payable hereunder shall be reasonably abated in whole or in part depending on the amount and nature of the Premises rendered untenable, from the time of the damage until the time the affected Premises are fully restored and certified by the Board's engineers as ready for occupancy; provided, however, that if the damage is caused by the negligent act or omission of Concessionaire, its, agents, or employees, the rentals and fees will not ▇▇▇▇▇ and Concessionaire shall be responsible for reimbursing the Board for the cost and expenses incurred in the repair and within thirty (30) days following completion.
C. In the event that all or a portion of the Premises are completely destroyed by fire, explosion, the elements, public enemy or other casualty or so damaged that they are untenable and cannot be replaced for more than thirty (30) days, the Board shall be under no obligation to repair, replace and reconstruct the affected Premises, and the Board may terminate this Lease as to the affected Premises. If terminated, or during any period of non-tenability, rentals and fees payable hereunder shall ▇▇▇▇▇ as to the part of the Premises thus destroyed as of the time of the damage or destruction. If within twelve (12) months after the time of the damage or destruction the Premises shall not have been repaired or reconstructed, subject to extension due to delays except force majeure events, Concessionaire may cancel this Lease as regards the affected Premises by giving written notice of cancellation to the Board within ten (10) days after the expiration of such 12-month period, time being of the essence with respect to the g...
Damage and Destruction. If the Building is damaged or destroyed by fire, smoke, tornado, ice, wind, lightning, flood, water, explosion, riot, or other casualty, Lessee shall notify Lessor as soon as reasonably possible.
(a) If the Building is completely destroyed, or if twenty-five percent (25%) or more of the usable area of the Building is damaged, or if in the reasonable judgment of Lessor and Lessee the damage resulting cannot be repaired within one hundred eighty (180) days after the occurrence of the casualty, then either Lessor or Lessee may terminate this Lease by giving written notice to the other party within sixty (60) days from the date of such damage, in which event this Lease shall Expire on the date that is ten (10) days after the date the party electing to terminate gives notice of termination, with the same effect as if such date were stated as the time for Expiration of this Lease. In such event, Base Rent, Additional Rent and other amounts payable by Lessee shall abate from the date of such casualty through the date of termination. ▇▇ ▇he event neither party elects to terminate in accordance with the foregoing, Lessor shall promptly restore or rebuild the Premises to its condition existing prior to the casualty. In such event, Base Rent, Additional Rent, and other amounts payable by Lessee shall abate from the date of such casualty through the date upon which such ▇▇▇▇oration or rebuilding is complete.
(b) If (i) less than twenty-five percent (25%) of the Building is damaged or destroyed, (ii) in the reasonable judgment of Lessor and Lessee, the damage can be repaired within one hundred eighty (180) days after the occurrence of the casualty, and (iii) Lessee can use the remainder of the Building for substantially the same purpose(s) as immediately prior to the damage or destruction, Lessor shall, within a reasonable time, restore or rebuild the damaged or destroyed part to a condition at least as good as the condition which existed immediately prior to the damage or destruction. In such event, Base Rent, Additional Rent and other amounts payable by Lessee shall abate from the date of such casualty through the date upon which such ▇▇▇▇oration or rebuilding is complete in the proportion that the area of the portion of the Premises that cannot be used bears to the total area of the Building. Notwithstanding anything above to the contrary, Lessor shall have no obligation to restore or rebuild to the extent that cost of such restoration or rebuilding is in excess of ...
Damage and Destruction. If, following delivery of possession of the Project by Contractor to District, the Project is totally or partially destroyed due to fire, acts of vandalism, flood, storm, earthquake, Acts of God, or other casualty beyond the control of either party hereto, the Term shall end and District shall still no longer be required to make any payments required pursuant to the Guaranteed Project Cost Provisions indicated in Exhibit C that are then due or past due or any remaining and succeeding principal payments pursuant to the Guaranteed Project Cost Provisions indicated in Exhibit C for the remainder of the original Term. The Contractor shall still be due any funds, payments, or disbursements from the District’s rental interruption insurance to pay for the amounts that would otherwise have been due and owing from the District under Exhibit C.
Damage and Destruction. In the case of damage to or destruction of the School or any part of them by fire, the elements, other perils to be insured against by the Lessee pursuant to the terms of this Lease, terrorism or other similar occurrence, Lessee shall give Lessor prompt notice thereof. In the event of a partial destruction or damage, Lessee shall, promptly reconstruct and restore the damaged property to substantially the same condition as prevailed immediately prior to the occurrence of the damage, with such changes, if any, as may be required by Applicable Laws or requested by Lessee and approved by the Lessor pursuant to the terms of this Lease. In the case of any substantial destruction or damage, which shall be deemed to mean destruction or damage which renders more than fifty percent (50%) of the School unusable, whether directly, or because access to the Leased Area is deprived by reason of such even, Lessee shall have the option to terminate this Lease, effective as of the date of the casualty, by giving casualty. In the event Lessee elects to terminate this Lease, Lessee shall reconstruct and restore the Leased Area to substantially the same condition as existed immediately prior to the casualty, with such changes, if any, as may be required by Applicable Law or requested by Lessee and approved by Lessor pursuant to the terms of this Lease. Such reconstruction and restoration shall occur within 180 business days after the date of the casualty event. In the case of less than substantial destruction or substantial destruction or damage which occurs during the last two (2) years of the Lease Term, either Lessee or Lessor may elect to terminate this Lease, in writing, as of the date of the casualty by providing written notice of such Party’s election to terminate the Lease, which notice shall be given within one hundred twenty (120) calendar days following the date of such occurrence of the casualty. In the case of a destruction or damage which renders more than fifty percent (50%) of the aggregate square footage of the Leased Area unleasable, notwithstanding that the Leased Area may be unaffected thereby, and which materially and adversely affects primary access to the Leased Area, Lessee may terminate this Lease as of the date of the casualty by giving written notice of such Party’s election to terminate the Lease, which notice shall be given, within one hundred twenty (120) calendar days following the date of such occurrence of the casualty. Lessee shall be entitled...
Damage and Destruction. (a) If, during the Term, the Improvements are damaged or destroyed, in whole or in part, by fire or other casualty, the Company shall promptly notify the Issuer and the Trustee in writing as to the nature and extent of such damage or loss and whether it is practicable and desirable to rebuild, repair, restore or replace such damage or loss.
(b) If the Company shall determine that such rebuilding, repairing, restoring or replacing is practicable and desirable, the Company shall (at the Company’s expense) forthwith proceed with and complete with reasonable dispatch such rebuilding, repairing, restoring or replacing. In such case, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Improvements shall be paid to the Trustee and shall be deposited in the Project Fund and shall be used and applied for the purpose of paying the cost of such rebuilding, repairing, restoring or replacing such damage or loss. Any amount remaining in the Project Fund after such rebuilding, repairing, restoring or replacing shall be paid to the Company.
(c) If the Company shall determine that rebuilding, repairing, restoring or replacing the Improvements are not practicable and desirable, any Net Proceeds of property and/or casualty insurance required by this Lease and received with respect to any such damage or loss to the Project shall be paid into the Principal and Interest Payment Account. Such moneys shall be used to redeem Bonds at their earliest optional redemption date and any balance thereafter shall be refunded to the Company within 30 days. The Company agrees that it shall be reasonable in exercising its judgment pursuant to this subsection (c).
(d) The Company shall not, by reason of its inability to use all or any part of the Improvements during any period in which the Improvements are damaged or destroyed, or are being repaired, rebuilt, restored or replaced nor by reason of the payment of the costs of such rebuilding, repairing, restoring or replacing, be entitled to any reimbursement or any abatement or diminution of the Basic Rent or Additional Rent payable by the Company under this Lease nor of any other obligations of the Company under this Lease except as expressly provided in this Section.