DAMAGE/DESTRUCTION. In the event the Premises are damaged or rendered totally or partially uninhabitable by fire, other casualty or condemnation, PIC shall have the option to terminate the MOU. If such damages casualty or condemnation occurs during the term or any extension thereof, the District may elect to repair such damages or may elect to terminate the MOU during the term after providing thirty (30) days written notice of termination. In the event the Premises are rendered so uninhabitable as to prevent PIC from operating PIC’s business at the Premises, and neither PIC nor the District terminates the MOU, rental payments shall xxxxx on a per diem basis until the Premises are repaired to reasonably allow such operation of PIC’s business.
DAMAGE/DESTRUCTION. In the event of damage to the PREMISES by fire, flood, lightning, or other Act of God, or act of terrorism rendering it impossible or substantially inconvenient for LESSEE to continue to occupy or use the PREMISES for its operations, the LESSOR, after notice from the LESSEE of the condition shall have thirty (30) days to repair and/or restore the PREMISES to a tenantable condition. If XXXXXX fails to repair and/or restore the PREMISES within said period of thirty (30) days, or if XXXXXX fails to make reasonable progress during the thirty (30) day period, as determined by XXXXXX in its sole discretion, LESSEE may, at its option: a.) terminate this LEASE by giving LESSOR fourteen (14) days written termination notice or b.) after first giving LESSOR fourteen (14) days written notice, repair and restore the PREMISES to a tenantable condition, and deduct such costs made in restoration of the PREMISES from the RENT due the LESSOR. At LESSEE”S option, payment of RENT shall xxxxx as long as the PREMISES remains in an un-tenantable condition after notice to LESSOR and shall resume only after the condition has been substantially corrected. Such abatement shall be prorated on the portion of the PREMISES that is or remains un-tenantable.
DAMAGE/DESTRUCTION. 14.1 In the event of any damage to or destruction of the Premises by fire, the elements or other casualty during the Term (a “Casualty”), Tenant shall give Landlord and Lender, if any, prompt written notice thereof. Tenant shall adjust, collect and compromise any and all claims covered by insurance.
DAMAGE/DESTRUCTION. Until Developer has reimbursed the City for the Cash Grant in full, in the event of fire, damage, or any other casualty to any part of the Project, the Developer agrees, at its cost and expense, to rebuild, repair and replace the Project in the condition it was immediately prior to the casualty. The fair market value of the Project following reconstruction and/or repair must be greater than or equal to the fair market value of the Project immediately prior to the casualty.
DAMAGE/DESTRUCTION. SECTION 1. If at any time during the Term (i) more than twenty-five percent (25%) of the Demised Premises are damaged or destroyed by fire or other casualty, or (ii) any portion of the Demised Premises is so damaged or destroyed and such damage or destruction materially affects Lessee's ability to conduct normal business operations in the Demised Premises and such damage cannot reasonably be expected to be repaired within ninety (90) days, then Lessee may elect to terminate the Lease by so notifying the other within thirty (30) days after the date of the damage or destruction, specifying a date for termination that shall be not less than thirty (30) days from the date of such notice. If at any time during the Term (i) more than thirty-five percent (35%) of the Buildings or 35% of the Demised Premises are damaged or destroyed by fire or other casualty, or (ii) any portion of the Building or Demised Premises is so damaged or destroyed and such damage or destruction materially affects Lessee's ability to conduct normal business operations in the Demised Premises and such damage cannot reasonably be expected to be repaired within ninety (90) days, then Lessor may elect to terminate the Lease by so notifying the Lessee within thirty (30) days after the date of the damage or destruction, specifying a date for termination that shall be not less than thirty (30) days from the date of such notice. If neither Lessor nor Lessee so elect to terminate this Lease, or if less than thirty five percent (35%) of the Building of Demised Premises is damaged by such fire or other casualty, then Lessor shall promptly commence to repair and restore the Building and the Demised Premises to their condition immediately prior to such fire or casualty except that Lessor shall not be required to repair or restore alterations and additions to the Premises made by Lessee in accordance with the provisions of Article X hereof except to the extent insurance proceeds are available therefor. Upon completion of such restoration, the Lessor shall be entitled to all insurance proceeds payable under any casualty policy maintained as required by the provisions of Article VII hereof. If existing laws do not permit the restoration, either party shall have the right to terminate this Lease by written notice to the other party. An equitable abatement of rent shall apply commencing upon the date of any such casualty and continue until repair or termination in accordance with the terms of this Lease.
DAMAGE/DESTRUCTION. (a) Subject to the termination rights set forth in Section 13(c) and Section 13(d) below, if the Premises or any portion thereof are damaged or destroyed by fire or other casualty, Tenant will promptly give written notice thereof to Landlord, and Landlord shall, subject to the conditions and limitations set forth in this Section 13 below, repair the same at Landlord’s cost as and to the extent provided below.
DAMAGE/DESTRUCTION. Should the Premises become damaged, destroyed or otherwise partially or totally uninhabitable, rent will xxxxx and this Lease terminate if you decide to vacate the Premises. If you decide to remain, rent will not xxxxx nor will there be any offset or reduction in rent, unless both parties agree. Owner is not responsible for loss or damage to renter’s property. Renter agrees to furnish his/her own renter’s insurance policy to protect their belongings in the event of flood or other damage.
DAMAGE/DESTRUCTION. A. If during the Term, the Premises are damaged or destroyed by fire or other casualty, then, at Landlord's option: (i) the Premises shall be promptly restored and repaired by the Landlord and, if the Unit is damaged or destroyed, any Rent for the period that the Premises are uninhabitable by Lessee shall xxxxx, unless and to the extent Landlord provides Lessee with comparable alternative living space, in which event Rent will not be abated; or (ii) Landlord may terminate this Lease by so notifying Lessee in which event the Rent shall cease to accrue as of the date of such damage or destruction; or (iii) Landlord may relocate Lessee to another unit within the Facility or a comparable facility. Notwithstanding any of the foregoing, Lessee shall not be excused from paying Rent if the damage or destruction to the Premises is caused by Lessee or any guest of Lessee.
DAMAGE/DESTRUCTION. (a) In the event of any casualty loss exceeding $100,000, Tenant shall give Landlord immediate notice thereof. Tenant shall adjust, collect and compromise any and all such claims, with the prior written consent of Landlord, not to be unreasonably withheld or delayed, and Landlord shall have the right to join with Tenant therein. If the estimated cost of Restoration or repair shall be Five Hundred Thousand Dollars ($500,000.00) or less all proceeds of any insurance required under Paragraph 13(a) shall be payable to Tenant, provided that Tenant at such time shall have a tangible net worth of not less than Two Hundred Million Dollars ($200,000,000.00) as determined in accordance with generally accepted accounting principles, consistently applied and in all other events all proceeds shall be paid to a Trustee which shall be a federally insured bank or other financial institution, selected by Landlord and Tenant (the “Trustee”). If the Leased Premises shall be covered by a Mortgage, Lender, if it so desires, shall be the Trustee. Each insurer is hereby authorized and directed to make payment under said policies directly to such Trustee instead of to Landlord and Tenant jointly; and Tenant hereby appoints such Trustee as Tenant’s attorney-in-fact to endorse any draft therefor for the purposes set forth in this Lease after approval by Tenant of such Trustee, if Trustee is other than Lender, such approval not to be unreasonably withheld or delayed.
DAMAGE/DESTRUCTION. A. If during the Term, the Premises are damaged or destroyed by fire or other casualty, then, at Landlord's option: (i) the Premises will be promptly restored and repaired by the Landlord and, if the Unit is damaged or destroyed, any Rent for the period that the Premises are uninhabitable by Tenant will be reduced, unless and to the extent Landlord provides Tenant with comparable alternative living space; or (ii) Landlord may terminate this Lease by notifying Tenant, in which event the Rent will terminate as of the date of the damage or destruction; or (iii) Landlord may relocate Tenant to another unit within the Facility or a comparable facility. Notwithstanding any of the foregoing, Tenant will not be excused from paying Rent if the damage or destruction to the Premises is caused by Tenant or any guest of Tenant.
