Common use of Damage/Destruction Clause in Contracts

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. SECTION 1. If at any time during the Term (i) more than twenty-five percent (25%) of the Demised Premises are substantially 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 substantially damaged or destroyed by fire or other casualty, or (ii) any portion of the Building Buildings 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 twenty five percent (3525%) of the Building of or Demised Premises is substantially 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 VI 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. SECTION 1Section 5.1. If if the Demised Premises shall be damaged by fire or other cause, the damage shall be repaired by, and at any time during the Term (i) expense of, Landlord promptly and with due diligence after Landlord receives the insurance proceeds, but in all events, not more than twenty-five percent six (25%6) months after the occurrence of the damage, and the rent until such repairs shall be made shall be apportioned according to the part of the Demised Premises are which is usable by Tenant. Notwithstanding anything to the contrary herein, in the event the Demised Premises ate substantially damaged or destroyed by fire or other casualty, or (ii) any portion of causes so that the Demised Premises is so damaged or destroyed cannot be operated by Tenant, then the rent and such damage or destruction materially affects Lessee's ability additional rent (except taxes) shall be fully abated until (a) Landlord completes repairs to conduct normal business operations in the Demised Premises and such damage cannot reasonably same may be expected to be repaired within ninety lawfully occupied by Tenant for the purposes set forth in Section 3.1 hereof, and (90b) days, then Lessee may elect to terminate the Lease by so notifying earlier of the other within thirty date Tenant opens for business or .thirty (30) days after (a) occurs. Tenant acknowledges that Landlord is not obligated to carry insurance on Tenant's furniture and/or furnishings or any fixtures or equipment, improvements, alterations or appurtenances owned, made or installed by Tenant, and agrees that Landlord is not obligated to repair any damages thereto or replace 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 noticesane. 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 LesseeLandlord'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 obligation to repair and restore the Building and Demised Premises is limited to the condition of the Demised Premises as it was immediately preceeding the damage. No penalty shall accrue for unavoidable delays, or any other cause beyond Landlord's control; provided, Landlord uses due diligence to their condition immediately prior complete the required repairs. Notwithstanding anything to such the contrary herein, in the event the premises are substantially damaged by fire or casualty except that Lessor other cause during the last two (2) years of the initial or extended term, Tenant and Landlord 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 each have the right to terminate this Lease by written giving thirty (30) days notice to the other party. An equitable abatement party of rent its election to terminate this Lease, and thereupon the term of this Lease shall apply commencing expire upon the date set forth in said notice, and Tenant shall surrender possession of any such casualty the Demised Premises to Landlord on or before said date, and continue until repair or termination in accordance with the terms of this Leaserent and additional rent shall be apportioned and paid to said date.