Common use of Damage or Destruction of Improvements Clause in Contracts

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. In the event the Premises shall be rendered untenable untenantable by fire or other insured casualty, the Landlord will, will within sixty one hundred twenty (60120) calendar days from the date of said damage or destruction, repair or and replace the said Premises to substantially the same condition as prior to the damage or destructiondestruction less wear and tear caused by Tenant's use and occupation. If the Landlord fails to commence repair of the damage or destruction within ten (10) business days (unless the repair or restoration is of such character that it cannot be commenced within such time, provided that in any event that commencement thereof will occur within thirty (30) calendar days of such damage or destruction) from the date of such damage or destruction, or if the Premises have not been replaced or repaired to such condition within sixty one hundred twenty (60120) calendar days, Tenant may, may at its option, upon (to be exercised by written notice to the Landlord, Landlord and to the Trustee) terminate this Lease. The rent Base Rent herein required to be paid shall xxxxx during the period of such untenantability. If the Premises premises shall be damaged in part by fire or other casualty insured casualty, but still remains remain tenantable, Landlord the landlord shall repair the said Premises to substantially the same condition as prior to the damagedamage less wear and tear caused by Tenant's use and occupation. 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 restorationrestorations, the Lease shall continue in full force and effect; , provided, however, that Tenant shall be required to pay the rentBase Rent, herein reserved, abated by the percentage of area destroyed as compared to the total area herein demised. Said percentage shall be established within In the event that any damage or destruction occurring during the last twelve (12) months of the original or extended term of this Lease to the extent of ten (10%) calendar days following the damage. Any dispute which arises under this Article regarding the usability percent or more of the insurable value of the Premises, Landlord or Tenant may elect to terminate this Lease as of the date of the destruction or damage, by giving notice of such election to the other and to the Trustee within fifteen (15) days after such damage or destruction provided, however, that if Tenant has exercised its option to purchase the Premises no such termination shall take place and reasonable rent upon the payment of the purpose price the proceeds of insurance shall be settled by arbitration pursuant paid to the provisions tenant. Except as otherwise provided in the preceding paragraph, the Tenant shall cause all insurance proceeds to be assigned to the Landlord in the event of Article 28fire or other insured damage to be used for repair or restoration. In no event shall the Landlord's obligations herein to restore the premises in the event of damage or casualty exceed the amount of insurance proceeds made available to landlord by the insurance carrier and released to Landlord by its Mortgagees for such repair and/or restoration.

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. In the event that any damage or destruction occurs during the last twelve (12) months of the original Term of this Lease or any extension of the Term, to the extent of fifty percent (50%) or more of the insurable value of the Tenant's Premises or the entire building of which the Premises is a part, Landlord or Tenant may elect to terminate this Lease as of the date of the destruction or damage, by giving notice of such election within fifteen (15) calendar days after such damage or destruction. In such event, Landlord shall receive the proceeds of the insurance policies without obligation to rebuild or restore the Premises, and Tenant shall execute any waiver which may be required of it by any insurer or Landlord. 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. In the event the Premises shall be rendered untenable untenantable by fire or other casualty, Landlord willshall, within sixty thirty (6030) calendar days from receipt of the date of insurance proceeds for said damage or destruction, commence the repair or replace the Premises replacement of said improvements to substantially the same condition as prior to the damage or destruction. If the Landlord fails to commence repair or replacement of the damage or destruction within said thirty (30) calendar days from the date of such damage or destructiondays, or if the Premises have not been replaced or repaired to such condition within sixty one hundred eighty (60180) calendar days, Tenant may, at its option, upon option (to be exercised by written notice to the Landlord), terminate this LeaseLease on the date specified in the notice and thereafter neither Tenant nor Landlord shall have any further rights, duties or obligations under this Lease and the rents and other sums payable by Tenant for the remainder of the term shall wholly xxxxx. The rent herein required to be paid paid, shall xxxxx during the period of such untenantability. If the Premises improvements shall be partially damaged in part by fire or other casualty casualty, but still remains remain tenantable, the Landlord shall repair the Premises said improvements 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 restorationrestorations, the Lease lease shall continue in full force and effect; provided, however, that Tenant but the rent shall be required equitably abated to pay for the rent, herein reserved, abated by basis of 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 portion of the Premises and reasonable rent that are untenantable. Notwithstanding the foregoing, if more than fifty percent (50%) of the improvements shall be settled destroyed or damaged by arbitration pursuant any cause so as to be unfit for Tenant's occupancy as provided herein and repair thereof is incapable of being substantially completed within one hundred eighty (180) days after the date of the destruction or damage, Landlord and Tenant may elect to terminate this Lease as of the date of destruction or damage, by giving notice of such election to the provisions other within thirty (30) days after such damage or destruction. In such event, Landlord shall receive the proceeds of Article 28the insurance policies without obligation to rebuild or restore the Premises, and Tenant shall execute any waiver which may be required of it by any insurer or Landlord and thereafter neither Tenant nor Landlord shall have any further rights, duties or obligations under this Lease and the rents and other sums payable by Tenant for the remainder of the term shall wholly xxxxx.