DAMAGE OR CASUALTY Clause Samples

DAMAGE OR CASUALTY. In the event that fifty percent (5O%) or more of the improvements on the Facility are destroyed or rendered untenantable by fire or other casualty during the Term (based upon the cost to replace the improvements damaged or destroyed as compared with the market value of the improvements immediately prior to such fire or other casualty as shown by certificate of an independent architect, engineer or appraiser selected by Tenant and approved by Landlord), then Tenant shall have the right to terminate this Lease effective as of the date of the casualty by giving, within thirty (3O) days of such casualty, written notice of termination to Landlord. If said notice of termination is given within such thirty (3O) day period, the Lease shall terminate and Base Rental and all other charges shall ▇▇▇▇▇ as aforesaid from the date of such casualty, and Landlord shall promptly repay to Tenant any rent paid in advance which has not been earned as of the date of such casualty. If this Lease is not so terminated, and whether the extent of casualty is more or less than 5O%, the Landlord shall promptly and completely restore the facility. All rentals and other charges shall be appropriately abated during the restoration period.

DAMAGE OR CASUALTY. Section 9.01. If the Demised Premises or any part thereof shall be damaged by fire or other insured casualty and Tenant shall give prompt written notice thereof to Landlord, then Landlord shall, subject to the provisions of Sections 9.02 and 9.03, proceed with reasonable diligence to repair or cause to be repaired such damage at Landlord's expense if and to the extent that such repair is fully paid for with the net proceeds of insurance, if any, recovered with respect to the damage, but in no event greater than the scope of Landlord's construction of the Demised Premises on the commencement of the Term. If the Demised Premises, or any material part thereof, shall be rendered untenantable or inaccessible by reason of such damage and such damage shall not be the result of the gross negligence or willful misconduct of Tenant or of Persons Within Tenant's Control, then the Fixed Rent and Recurring Additional Rent hereunder, or an amount thereof apportioned according to the area of the Demised Premises so rendered untenantable (if less than the entire Demised Premises shall be so rendered untenantable), shall be abated for the period from the date of such damage to date when the damage shall have been repaired as aforesaid. If Landlord, Overlandlord or any Mortgagee shall be unable to collect the rent insurance proceeds applicable to such damage because of some action or inaction on the part of Tenant or of Persons Within Tenant's Control, then there shall be no abatement of Fixed Rent or Recurring Additional Rent. Tenant covenants and agrees to reasonably cooperate with Landlord, Overlandlord and any Mortgagee in their efforts to collect insurance proceeds (including rent insurance proceeds) payable to such parties. Landlord shall not be liable for any delay which may arise by reason of adjustment of insurance on the part of Landlord and/or Tenant, or any cause beyond the control of Landlord or contractors employed by Landlord. Section 9.02. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from damage from fire or other casualty or the repair thereof. Tenant understands that Landlord, in reliance upon the provisions set forth in Section 8.03, will not carry insurance of any kind on Tenant's furnishings, furniture, contents, fixtures, equipment, Alterations and leasehold improvements (other than Landlord's Work) (including horizontal portions of the Building Systems that are locat...

DAMAGE OR CASUALTY. If the demised premises are wholly or partially damaged by fire, enemy action, riot, action of the elements, or other casualty, and the same are repairable, then Lessor shall, as materials are reasonably available therefor, forthwith proceed to repair the same at its expense. Rent under this lease during the period of repair shall proportionally ▇▇▇▇▇ based on usable space remaining for Lessee's use during the period of repair. Should the building in which the premises are located be destroyed to an extent in excess of seventy-five percent (75%) of its value during the last three (3) years of the term of this Lease, either Lessee or Lessor shall have the option to terminate this Lease as of the date of such damage by giving notice to the other party within thirty (30) days of the date of damage.

DAMAGE OR CASUALTY. Subject to the provisions of Section 9.04 below, if the Leased Premises are damaged by fire or other insured casualty, Landlord shall repair the damage and restore and rebuild the Leased Premises as soon as is commercially reasonable after (x) notice to it of the damage or destruction and (y) the adjustment of the insurance proceeds attributable to such damage. Tenant shall not be entitled to terminate this Lease or an abatement of the Base Rent and no damages, compensation or claim shall be payable by Landlord for purported inconvenience, loss of business or annoyance arising from any repair or restoration of any portion of the Leased Premises pursuant to this Section. Landlord shall use its diligent, good faith efforts to make such repair or restoration promptly and in such manner as not to unreasonably interfere with Tenant's use and occupancy of the Leased Premises, but Landlord shall not be required to do such repair or restoration work except during normal business hours of business days. In the event of damage or casualty, Tenant may withhold payment of the Base Rent and all additional rent and other charges payable by Tenant hereunder, proportionate to the portion of the Leased Premises (based on usable square feet) that Tenant may be prevented from fully using as a result of such damage or casualty.

DAMAGE OR CASUALTY. Subject to the provisions of Section 8.04 below, if the Premises are damaged by fire or other insured casualty, Landlord shall repair the damage and restore and rebuild the Premises as soon as is commercially reasonable after (x) notice to it of the damage or destruction and (y) the adjustment of the insurance proceeds attributable to such damage and receipt of any proceeds to make such repairs. Tenant shall not be entitled to terminate this Lease or an abatement of the Base Rent and no damages, compensation or claim shall be payable by Landlord for purported inconvenience, loss of business or annoyance arising from any repair or restoration of any portion of the Premises pursuant to this Section, provided that (i) Tenant may continue to occupy and operate in the Premises while the restoration and rebuilding is conducted; and (ii) Landlord makes such repair or restoration promptly and in such manner as not to unreasonably interfere with Tenant’s use and occupancy of the Premises. It is agreed that Landlord shall not be required to do such repair or restoration work except during normal business hours. Tenant agrees to carry rental insurance for the benefit of Landlord or at Landlord’s option to reimburse Landlord for Landlord’s cost of rental insurance which shall cover all fixed rent and additional rent due under this Lease for a period of eighteen months.

DAMAGE OR CASUALTY