Damage or Destruction of Improvements. If, during the leasehold term created hereunder, structures or other improvements, if any, situated upon the Leased Premises or any portion thereof are damaged or destroyed by fire or other casualty, this Lease shall not terminate but rent shall xxxxx until all damaged portion or portions shall be rebuilt in accordance with the terms and procedures set forth in the CC&Rs.
Damage or Destruction of Improvements. In the event the Premises shall be rendered untenable by fire or other casualty, Landlord will, within sixty (60) calendar days from the date of said damage or destruction, repair or replace the Premises to substantially the same condition as prior to the damage or destruction. If Landlord fails to commence repair of the damage or destruction within thirty (30) calendar days from the date of such damage or destruction, or if the Premises have not been replaced or repaired to such condition within sixty (60) calendar days, Tenant may, at its option, upon written notice to the Landlord, terminate this Lease. The rent herein required to be paid shall xxxxx during the period of such untenantability. If the Premises shall be damaged in part by fire or other casualty but still remains tenantable, Landlord shall repair the Premises to substantially the same condition as prior to the damage. Landlord shall commence repair of the damage or destruction within thirty (30) calendar days from the date of occurrence. During the period of such repairs and restoration, the Lease shall continue in full force and effect; provided, however, that Tenant shall be required to pay the rent, herein reserved, abated by the percentage of area destroyed as compared to the total area herein demised. Said percentage shall be established within ten (10) calendar days following the damage. Any dispute which arises under this Article regarding the usability of the Premises and reasonable rent shall be settled by arbitration pursuant to the provisions of Article 28.
Damage or Destruction of Improvements. Should the Company's Improvements to the Premises or its furnishings, fixtures, signage, trade fixtures, and equipment, or any part of them, be destroyed or damaged, whether or not said damage or destruction is covered by insurance, Company shall, at its sole cost and expense, and in compliance with Article
Damage or Destruction of Improvements. In any case under this Section that Lessee is required or elects to restore the Premises, or the contents, furniture, fixtures or equipment therein, after damage or destruction the Port agrees promptly to execute all adjustment documents and to endorse any proceeds to Lessee and/or Lender. Lessee agrees to keep the Port advised during the adjustment process. In the case where Lessee is required or elects under this Section to restore the Premises, or the contents, furniture, fixtures or equipment therein and subject to the rights of any Lender set forth in this Lease, the proceeds of insurance shall be held by Lessee and/or Lender as trust funds to be used for the purpose of restoring the Premises damaged by fire or other casualty. Lessee agrees to use good faith reasonable efforts to have all Lenders agree in relevant loan documents to have insurance proceeds applied to restoration of the Premises. Lessee also agrees that if, nevertheless, a Lender will not so agree but reserves the power to apply all or portions of such proceeds against its loan, then in the event of a loss Lessee shall use diligent, good faith reasonable efforts (including legal action), in consultation with Lessee’s legal counsel and the Port, to cause all proceeds of insurance to be applied to restoration, but not so as to jeopardize Lessee’s interest in the leasehold estate in the good faith reasonable judgment of Lessee’s attorney. In any case under this Section that Lessee elects to terminate this Lease on account of damage or destruction Lessee agrees promptly to execute all adjustment documents and to endorse any proceeds to the Port subject to the rights of Lessee and any Lender as described in this Section. If during the term of this Lease the Improvements are damaged or destroyed by fire or other insured casualty to an extent in excess of 50% of the then replacement cost thereof, Lessee is hereby granted the privilege, upon giving at least 60 days’ prior written notice to the Port (such notice to be given within 60 days after such damage or destruction), to cancel and annul this Lease; provided, however, that if in such case Lessee shall not so elect to cancel and annul this Lease, it hereby agrees with due diligence to restore the Improvements, and all contents, furniture, fixtures and equipment therein, to a good and tenantable condition notwithstanding any inadequacy of insurance proceeds therefor. If this Lease is canceled or annulled in accordance with this Section, there...
Damage or Destruction of Improvements. If the improvements located upon the Premises shall be damaged or destroyed by any cause insured against, Landlord shall, rebuild or restore the damaged or destroyed improvements, using insurance proceeds for such purpose and this Lease shall continue in full force and effect. In such event the rental reserved hereunder shall be paid by the business interruption insurance hereinafter provided for. If the remaining term is one (1) year or less, either party shall have the right to terminate this Lease.
Damage or Destruction of Improvements. Should the Company's Improvements to the Premises or its furnishings, fixtures, signage, trade fixtures, and equipment, or any part of them, be destroyed or damaged, whether or not said damage or destruction is covered by insurance, Company shall, at its sole cost and expense, and in compliance with Article 6, above, reconstruct all Improvements to the Premises and replace all furnishings, fixtures, signage, trade fixtures and equipment with all such replacements being of equal quality to those originally installed by Company in the Premises, except in the event that the Premises are so damaged that they are untenable and cannot reasonably be repaired within thirty (30) days and the Aviation Authority has elected to terminate this Agreement as provided in Article 12.C., above. If Company fails to repair or replace such improvements in accordance with a schedule approved by the Aviation Authority, the Aviation Authority shall have the right (but not the obligation) to make such repairs and/or replacement and recover from Company the cost and expense thereof.
Damage or Destruction of Improvements. In the event that any or all of the improvements located in or on the Leased Premises shall suffer partial or substantial destruction at any time during the Term of this Agreement, the respective rights and obligations of the parties hereto with respect to reconstruction, repairing, and/or restoring such improvements and/or with respect to the matter of the continuance or termination of this Agreement following any such destruction, shall be controlled by the provisions of this Section.
Damage or Destruction of Improvements. 29- 5.7 Intentionally Deleted ......................................................................................... -31-
Damage or Destruction of Improvements. Upon any damage to or destruction of any portion of the Improvements the original cost of which, in the aggregate, exceeds $250,000, the Board shall take one of the following actions, in the sole discretion of the Board Representative:
Damage or Destruction of Improvements. The complete or partial destruction or damage, by fire or other casualty, of the Improvements shall not, except as provided herein, terminate this Lease or entitle the Tenant to surrender possession of the Lands or to have or to demand any abatement or reduction of the Rent or other charges payable under this Lease.
