Damage to or Destruction of the SANParks Thesens Island Restaurant and Project Site or Project Assets
Damage to or Destruction. OF THE PREMISES ----------------------------------------
Damage to or Destruction of the Thesens Island Hotel and Project Site or Project Assets
Damage to or Destruction of the Leased Premises caused by fire or any other casualty shall cause an immediate proportionate and equitable abatement of rent due hereunder, effective as of the date of the casualty, or until it is determined that Tenant intends not to repair.
Damage to or Destruction. OF THE DEMISED PREMISES If there is any material damage to or destruction.of the Demised Premises or any part thereof, Tenant promptly shall give written notice thereof to Landlord, generally describing the nature and extent of such damage or destruction. Landlord shall have the option of either repairing the premises or terminating the lease.
Damage to or Destruction of the Malelane Hotel Development and Project Site or Project Assets
Damage to or Destruction. OF THE DEMISED PREMISES ------------------------------------------------ 10.1 Should the demised premises or the building containing them be damaged by fire or other casualty so as to render the premises partially or wholly unfit for occupancy:
Damage to or Destruction. Damage or Destruction
Damage to or Destruction of the Assets. Seller shall bear all risk of loss with respect to the Assets prior to the Closing Date. Seller agrees to continue to carry or cause to be carried to the Closing Date the insurance coverage which is presently carried relating to the Assets. In the event of any damage to or loss or destruction of an Asset (other than normal wear and tear) (a "Loss") between the date of this Agreement and the Closing Date, (i) Purchaser shall not be entitled to terminate this transaction, and (ii) the Purchase Price shall be reduced by an amount equal to the estimated cost to repair or restore the Asset to substantially its condition immediately prior to the occurrence of such Loss (to the extent, if any, that Seller has not completed such repair or restoration). The estimated cost to repair or restore the Asset to substantially its condition immediately prior to the occurrence of such Loss shall be agreed to by Seller and Purchaser or, if they are unable to agree, shall be determined by an independent, qualified insurance adjuster selected by the parties (or, if they are unable to agree on such selection, one appointed by the Bankruptcy Court upon application by either party). Seller shall be entitled to retain any insurance proceeds paid or payable on account of such Loss.
