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. If, at any time during the Term, the Building shall be damaged or destroyed, either in whole or in part, by fire or other peril insured against by the Licensor, then, and in every such event:
(A) If the damage or destruction to the Building is such that, in the opinion of the Architect to be given to the Licensee within twenty (20) days of the date of the occurrence of such damage or destruction (the “Date of Damage”), the Licensed Premises are rendered partially unfit for occupancy or impossible or unsafe for use or occupancy, then the Licence Fee shall ▇▇▇▇▇ as of the Date of Damage in proportion to the part of the Licensed Premises which is rendered unfit for occupancy or impossible or unsafe for use or occupancy, and Licence Fee will not be payable again until such time as the Licensed Premises and the Improvements have been fully restored by the Licensor to their condition as of the Commencement Date.
(B) If the damage or destruction to the Building is such that, in the opinion of the Architect to be given to the Licensee within twenty (20) days of the Date of Damage, the Licensed Premises are rendered wholly unfit for occupancy or impossible or unsafe for use or occupancy, or that reasonable or convenient access is prevented thereto, and if, in either event, the damage, in the opinion of the Architect to be given to the Licensee within twenty (20) days of the Date of Damage, cannot be repaired with reasonable diligence within one hundred and twenty (120) days of the Date of Damage, then either the Licensor or the Licensee may terminate this tenancy within twenty (20) days following the date of the giving of the Architect’s opinion, upon written notice to the other party, in which event this Licence will be at an end as of the Date of Damage and the Licence Fee shall be apportioned and paid in full to the Date of Damage.
(C) In the event that neither the Licensor nor the Licensee shall terminate this Licence in accordance with the provisions of Section 7.7(b) of this Licence, then the Licensor shall repair the Licensed Premises, the Improvements and the Building with all reasonable speed and the Licence Fee hereby reserved shall ▇▇▇▇▇ from the Date of Damage until the later date of either (i) the Licensed Premises and Improvements are restored to their condition as of the Commencement Date; or (ii) reasonable and convenient access is restored thereto, as the case may be.
(D) If the damage or destruction is such that, in the opinion of the Architect ...
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. 24 ARTICLE 12 CONDEMNATION ..................................................25 ARTICLE 13
Damage and Destruction. 11.1. In the event that the Building is damaged or destroyed by fire or other casualty so that more than one third (1/3) of the rentable square feet of the Building is rendered untenantable, then Lessee may elect to terminate this Lease as of the date of such damage or destruction by written notice to Lessor, given within thirty (30) days after the date of such damage or destruction. Upon any such termination, Lessee shall quit, surrender and vacate the Premises, and this Lease shall thereupon be rendered void and of no further effect, provided however that such expiration shall be without prejudice to all rights, duties and obligations arising under this Lease prior thereto, so that all Rent shall be paid up to the date of expiration, and any Rent paid by Lessee on account of any period subsequent to such date, shall be promptly returned by Lessor to Lessee. Notwithstanding the foregoing, Lessee shall have no right to terminate this Lease under the provisions of this Section 11.1, in the event that the damage or destruction occurred as a result of the willfulness or negligence of Lessee, or of Lessee’s employees or agents.
11.2. In the event that Lessee shall not terminate this Lease pursuant to Section 11.1 above following any such damage or destruction, or in the event that less than one third (1/3) of the rentable square feet of the Building is rendered untenantable, then as promptly as possible, but in any event within one hundred eighty (180) days of the date on which Lessor obtains the insurance proceeds attributable thereto (the “Restoration Commencement Date”), Lessor shall repair and restore the Building to the condition the same was in immediately following Final Completion of Lessor’s Work, or as near as possible thereto, provided that all such repair and restoration shall be subject to the receipt by Lessor of sufficient insurance proceeds, it being hereby agreed and understood that Lessor shall not have any obligation to use any monies other than said insurance proceeds for the purpose of such repair and restoration. In the event that such repair or restoration is not completed within two hundred forty (240) days from the Restoration Commencement Date (except where the same is delayed due to any matter which would constitute Excusable Delay if the same were Lessor’s Work) then Lessee may elect to terminate this Lease in manner set out in Section 11.1 above. During such repair and restoration, the Fixed Rent payable hereunder shall continue to...
Damage and Destruction. 16 ---------------------- SECTION 7.02. Condemnation.................................... 17 ------------
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. 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. (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.