Damage or Destruction by Fire or Other Casualty. Subject to Wisconsin Law, in the event that the Leased premises suffers casualty loss or damage as a result of fire or other casualty, and in the event that, as a result of said loss or damage, the Leased premises are rendered uninhabitable, and in the event the premises may be restored or the damages repaired, this Lease and the liability for rent shall continue, except that said liability for rent shall be abated during any period of repair or reconstruction. In the event the premises cannot be repaired within sixty (60) days from the happening of such damage or destruction, then this Lease shall cease and terminate from the date of such injury. Said liability for rent shall not xxxxx if the loss, damages or destruction to the demised premises is caused by the negligent or intentional acts of Lessee, Lessee's occupants, guests or invitees.
Damage or Destruction by Fire or Other Casualty. A. Tenant shall give prompt notice to Landlord in case of fire or other damage to the Premises or the Building containing the Premises. In the event the Premises are damaged by fire, explosion, flood, tornado or by the elements, or through any casualty, or otherwise, after the commencement of the term of this Lease, the Lease shall continue in full force and effect. If the extent of the damage is less than Fifty Percent (50%) of the cost of replacement of the Premises, the damage shall promptly be repaired by Landlord at Landlord's expense, provided that Landlord shall not be obligated to so repair if such fire, explosion or other casualty is caused directly by the negligence of Tenant, its subtenants, permitted concessionaires, or their agents, servants or employees, and provided further that Landlord shall not be obligated to expend for such repair an amount in excess of the insurance proceeds recovered or recoverable as a result of such damage, and that in no event shall Landlord be required to replace Tenant's stock in trade, fixtures, furniture, furnishings, floor coverings and equipment. In the event of any such damage and (a) Landlord is not required to repair as hereinabove provided, or (b) the Premises shall be damaged to the extent of Fifty Percent (50%) or more of the cost of replacement, or (c) the Building of which the Premises are a part is damaged to the extent of Twenty-Five Percent (25%) or more of the cost of replacement, or (d) all buildings (taken in the aggregate) in the Building shall be damaged to the extent of more than Twenty-Five Percent (25%) of the aggregate cost of replacement, Landlord may elect either to repair or rebuild the Premises or the Building or buildings, or to terminate this Lease upon giving notice of such election to Tenant within Ninety (90) days after the occurrence of the event causing the damage.
Damage or Destruction by Fire or Other Casualty. If, during the Term, the Premises is partially or totally damaged or destroyed by fire or other casualty, Tenant shall, at its sole cost and expense, repair and restore the Premises as speedily as possible, to the value, character and condition existing prior to such damage or destruction in accordance with the provisions of this Lease applicable to maintenance and repair, alterations and restoration. If the insurance proceeds resulting from such fire or other casualty are payable to the Landlord’s Mortgagee or the holder of any future Mortgage Debt, then the obligation of Tenant to so repair and restore the Premises shall be subject to the availability to Tenant of such proceeds to the extent needed to pay for such repair or restoration, In the event insurance proceeds are not made available to the Tenant, then Tenant shall not be obligated to repair and restore the Premises until such time as Landlord has made available to Tenant funds in an amount equal to the insurance proceeds paid to the Landlord’s Mortgagee or the holder of any future Mortgage Debt, and Rent shall continue to be paid by Tenant for so long as rent loss and/or business interruption insurance proceeds are available, after which Rent shall xxxxx; provided, however, if Landlord fails to make such funds available within twelve (12) months after the date of such casualty, Tenant shall have the right to cancel and terminate this Lease. Landlord shall use commercially reasonable efforts in good faith at Tenant’s expense to cause insurance proceeds to be made available to Tenant by Landlord’s Mortgagee for purposes of such repair and restoration. Tenant shall be obligated to meet all reasonable conditions imposed on the use of any such insurance proceeds by the Landlord’s Mortgagee. If such insurance proceeds are made available to Tenant by the Landlord’s Mortgagee or the holder of any future Mortgage Debt and are insufficient to repair and restore the Premises, Tenant shall be required to make up such deficiency out of Tenant’s own funds. Except as provided above, there shall be no abatement or reduction of any Rent under this Lease due to any such damage, destruction or repair or restoration and Tenant shall have no right to terminate this Lease notwithstanding the partial or total destruction of all or any part of the Premises.
Damage or Destruction by Fire or Other Casualty. Subject to Wisconsin Law, if the Leased Premises suffers casualty loss or damage as a result of fire or other casualty, and if, as a result, the Leased Premises are rendered uninhabitable but are restored or the damages repaired, this Lease and the liability for rent will continue, except that rent will be abated during any period of repair or reconstruction. In the event the Leased Premises cannot be repaired within sixty (60) days from the fire or other casualty, then this Lease will cease and terminate from the date of the loss and no further rent will be due. Lliability for rent will not xxxxx if the loss, damages or injury to the Leased Premises is caused by the negligence of Tenant, Xxxxxx's occupants, guests or invitees.
Damage or Destruction by Fire or Other Casualty a. If, during the Term, the Project is damaged or destroyed by fire, tornado, or other casualty, regardless of its cause, GCIH1 must immediately give the City written notice of the damage or destruction.
Damage or Destruction by Fire or Other Casualty. (a) If the Building is damaged by fire or other casualty to such extent that the cost of restoration, as determined by an insurance adjustor licensed in the State of New Jersey, will equal or exceed fifty (50) percent of the replacement value of the Building (exclusive of foundations) just prior to the occurrence of the damage, then either Landlord or Tenant may, within sixty (60) days from the date of the damage, give the other party a written notice of election to terminate this Lease, effective thirty (30) days from the date of such notice. However, in the event that neither party terminates this Lease in such circumstance, then the basic rent and additional rent shall be abated in direct proportion to that amount of square footage in the Demised Premises which cannot be used by Tenant for the purposes set forth in Paragraph 1 herein. In addition, Landlord shall be responsible for making restoration within one hundred eighty (180) days after the date of the damage, subject to Force Majeure. In the event that restoration is not made within said time period, Tenant shall have the right to terminate this Lease, upon thirty (30) days written notice to Landlord.
Damage or Destruction by Fire or Other Casualty. In the event that the building located on the Leased Premises is destroyed by fire or other casualty or act of God, then this Lease Agreement shall terminate as of the time of such destruction without action on the part of either the LESSOR or the LESSEE. In the event that the building located on the Leased Premises is so damaged by fire, other casualty, or act of God that more than fifty percent (50%) of the floor space of the building cannot reasonably be used by LESSEE in the conduct of its activities, or the building is so damaged by fire or other casualty or act of God that it cannot, in the LESSOR’s opinion, be economically repaired, then either party shall have the option to terminate this Lease Agreement by the provision of written notice to the other party.
Damage or Destruction by Fire or Other Casualty a) Tenant shall give prompt notice to Landlord in case of fire or other damage to the Premises or the building(s) containing the Premises. In the event the Premises are damaged by fire, explosion, flood, Tornado or by the elements, or through any casualty, or otherwise, after the commencement of the Term of this Lease, the Lease shall continue in full force and effect. If the extent of the damage is less than Fifty Percent (50%) of the cost of replacement of the Premises, the damage shall promptly be repaired by Landlord at Landlord’s expense, provided that Landlord shall not be obligated to expend for such repair an amount in excess of the insurance proceeds recovered or recoverable as a result of such damage, and that in no event shall Landlord be required to replace Tenant’s stock in trade, fixtures, furniture, furnishings, floor coverings and equipment. In the event of any such damage and:
Damage or Destruction by Fire or Other Casualty. If the Building is damaged or destroyed by fire or other casualty, Tenant shall, unless it elects to terminate the Lease pursuant to Section 15.1 hereof, proceed with due diligence to restore the Building to as good of a condition as it was in immediately prior to such damage or destruction, subject to such alterations as Tenant may elect to make as permitted in Section 8.1 hereof, and neither the term nor any of the obligations (including the payment of Rent and Additional Rent) of either party under this Lease shall be reduced or affected in any way. In the event Tenant elects not to reconstruct and to terminate the Lease as provided for in Article 15, then the insurance proceeds shall become the sole and separate property of Tenant, and, at Landlord's option, Tenant shall remove the Building and restore the Land to the condition the Land was in prior to the construction of the Building upon the Land.
Damage or Destruction by Fire or Other Casualty. (a) In the event of any damage or loss by fire or other insurable casualty to the Leased Premises, Tenant shall give immediate notice thereof and Landlord shall, with reasonable diligence, repair and restore the Leased Premises or the portion thereof so damaged, as nearly as possible to the condition of the same immediately prior to such damage.
