Common use of Damage/Destruction Clause in Contracts

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.

Appears in 5 contracts

Samples: Lease (Summit Healthcare REIT, Inc), Master Lease (Summit Healthcare REIT, Inc), Lease (Cornerstone Core Properties REIT, Inc.)

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Damage/Destruction. 14.1 (a) 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 LenderMortgagee, if any, prompt written notice thereof. Tenant shall adjust, collect and compromise any and all claims covered by insurance.

Appears in 1 contract

Samples: Lease (Orchard Supply Hardware Stores Corp)

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Damage/Destruction. 14.1 (a) In the event of any damage to or destruction of the Premises by fire, the elements flood or other casualty during the Term (a "Casualty"), Tenant shall give Landlord and Lender, if anyapplicable, prompt written notice thereof. Tenant shall adjust, collect and compromise any and all claims covered by insurance. Thereafter, Tenant shall promptly send Landlord copies of all material notices, correspondence and pleadings given or received by Tenant relating to any such Casualty.

Appears in 1 contract

Samples: Lease (Kingsway Financial Services Inc)

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