Damage to or Destruction Sample Clauses

Damage to or Destruction of the SANParks Thesens Island Restaurant and Project Site or Project Assets 6.4.1 After delivery of the Project Site, the SANParks Thesens Island Restaurant or any portion thereof and any Institution Assets delivered to the Private Party, the Project Site and any New Project Assets, shall be at the sole risk of and under the care, custody and control of the Private Party. 6.4.2 Without derogating from the generality of Clause 6.4.1, the Private Party shall bear all risks and costs with regard to any weather conditions (subject to the provisions of Clause 16), including, without limitation, floods, and with regard to physical conditions or obstructions (both above-ground and subsurface and whether artificial or not), whether foreseen or unforeseen, which are encountered during the Construction Phase or at any time during the Project Term. 6.4.3 Should the Project Site, the SANParks Thesens Island Restaurant or the Project Assets or any portion thereof be damaged or destroyed at any time during the Project Term, the Private Party shall, within a reasonable period of time, at its own cost and expense, repair, rebuild or replace the same so that after such repair, rebuilding or replacing, the Project Site, the SANParks Thesens Island Restaurant and such Project Assets shall be substantially in the same condition as prior to such damage or destruction. In the event that the extent or nature of such damage or destruction is such that it would be impossible or commercially undesirable to repair, rebuild or replace the relevant portion of the Project Site, the SANParks Thesens Island Restaurant and/or the relevant Project Assets, the Private Party shall be excused from the obligation to so repair, rebuild or replace and SANParks or the Private Party shall have the right to proceed pursuant to Clause 16 on the basis that an event of Force Majeure shall be deemed to have occurred. 6.4.4 Should SANParks and the Private Party disagree with respect to what is “commercially undesirable” in Clause 6.4.3, either Party may request the other Party to agree within 7 (seven) Business Days on an independent expert to make a determination in that regard. Should the Parties be unable to agree on the identity of such expert within 7 (seven) Business Days of the second party being so requested, such expert shall be chosen by the Chairman of the Association of Law Societies of South Africa to make such determination. The person thus chosen shall act as an expert and not as an arbi...
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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, Lessee promptly shall give written notice thereof to Lessor, generally describing the nature and extent of such damage or destruction. If there is any damage to or destruction of the Demised Premises or any part thereof, Lessee, at Lessee's expense whether or not the insurance proceeds, if any, on account of such damage or destruction shall be sufficient for the purpose, promptly shall commence and complete, subject to Unavoidable Delays, the restoration, replacement or rebuilding of the Demised Premises as nearly as possible to its value, condition and character immediately prior to such damage or destruction, with such alterations and additions as may be made at Lessee's election pursuant to and subject to the terms, covenants and conditions of Article 7. Pending the completion of such Restoration, ▇▇▇▇▇▇ shall perform all temporary work and take all such actions as may be necessary or desirable to protect and preserve the Demised Premises. Insurance proceeds received by Lessor on account of any damage to or destruction of the Demised Premises or any part thereof, less the costs and expenses incurred by Lessor or Lessee in the collection thereof, including without limitation fees and expenses of adjusters and attorneys, shall be applied as hereinafter provided. Net insurance proceeds received on account of any damage to or destruction of the Demised Premises or any part thereof, unless Lessee is in default under this Lease, shall be paid to Lessee or as Lessee may direct, from time to time as Restoration progresses, to pay or to reimburse Lessee for the cost of Restoration, upon written request of Lessee accompanied by evidence, satisfactory to Lessor that the amount requested has been paid or is then due and payable and is properly a part of such cost, that there are no mechanics' or similar liens for labor or materials theretofore supplied in connection with the Restoration, and that the balance of said proceeds after making the payment requested will be sufficient to pay the balance of the cost of Restoration. Upon receipt by ▇▇▇▇▇▇ of evidence satisfactory to Lessor that the Restoration has been completed and the cost thereof has been paid in full, and that there are no mechanics' or similar liens for labor or materials supplied in connection therewith, the balance, if any, of such proceeds shall be paid to Lessor. Any insurance proc...
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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.
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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: (a) If the damage cannot reasonably be repaired within one hundred twenty (120) days after the date thereof, either party may terminate this lease as of the said date by notice to the other given within thirty (30) days after such damage, and in that case the Tenant shall immediately surrender the demised premises to the Landlord and shall pay rent accrued to the
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Damage to or Destruction of Property Prior to Closing; Risk of Loss. In the event the Property shall sustain damage caused by fire or other casualty prior to Closing, the Closing shall take place as provided herein without abatement of the Purchase Price, and there shall be assigned to Purchaser at Closing all of Seller's interest in and to the insurance proceeds which may be payable to Seller on account of such occurrence, and Seller shall have no obligation of repair or replacement. If an uninsured loss or casualty occurs, Purchaser shall receive a credit at Closing against the Purchase Price in an amount equal to the cost of repairing or restoring the loss or casualty in question.
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Damage to or Destruction. Damage or Destruction 13.01 In the event that the Leased Premises are destroyed or so damaged by fire, lightning, tempest or other casualty against which the Landlord is insured, as to be totally unfit for occupancy by the Tenant, Rent shall cease until the Leased Premises are repaired or rebuilt and provided further that in the event that the Leased Premises are damaged by fire, lightning, tempest or other casualty against which the Landlord is insured and the damage is such that the Leased Premises can be partially used, then until such damage shall have been repaired, Rent shall xxxxx while repairs are in progress by the same proportion as the area of the part of the Leased Premises rendered unfit for occupancy is of the whole of the Leased Premises and the Landlord agrees that it will within reasonable diligence repair the Leased Premises unless the Tenant is obliged to repair under the terms hereof, or unless the Lease is terminated pursuant to the provisions of Sections 13.02 or 13.03. The Landlord shall not be liable to the Tenant for any loss or damage suffered by the Tenant as a result of any reasonable delay in repair which may arise by reason of adjustment or insurance on the part of the Landlord or on account of labour disagreements or any other cause beyond the Landlord’s control.
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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.
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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.
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Related to Damage to or Destruction

  • Damage or Destruction Tenant shall give prompt written notice to Landlord of any casualty of which Tenant is aware to any Premises (the “Damaged Premises”). If the Damaged Premises are totally destroyed, or are partially destroyed but in Tenant’s opinion cannot be restored to an economically viable building for either the use for such building specified in Schedule A or such other use of such building for which Landlord has previously given written approval, or if the insurance proceeds actually paid to Tenant as a result of any casualty are, in Tenant’s reasonable opinion inadequate to restore the portion remaining of the Damaged Premises to an economically viable building for such use, Tenant may, at its election exercisable by giving written notice to Landlord within sixty (60) days after the casualty, terminate this Lease with respect to the Damaged Premises as of the date of the casualty or the date Tenant is deprived of possession of such Premises (whichever is later). If this Lease is terminated with respect to the Damaged Premises as a result of a casualty, Tenant shall promptly deliver to Landlord all insurance proceeds received by Tenant under the insurance policy carried by Tenant on the Damaged Premises, net of any insurance proceeds attributable to Tenant’s personal property or other property that would be Tenant’s property upon termination of the Lease and any costs expended or fees or other charges incurred by Tenant in collecting such proceeds. If this Lease is not terminated as a result of a casualty, subject to the availability of adequate insurance proceeds, Tenant shall restore the Damaged Premises as nearly as possible to the nature and character that existed immediately prior to the occurrence of such casualty and, to the extent required by Section 12.1, in accordance with plans approved by Landlord. Except for Tenant’s share of any insurance proceeds received by Landlord and attributed to Tenant’s property as provided more fully above, if any, Tenant shall have no claim against Landlord for any loss suffered by reason of any such damage, destruction, repair or restoration. Other than providing Tenant any insurance proceeds attributable to Tenant’s property as described above, Landlord shall not be required to repair any damage to or to make any restoration of any furnishings, trade fixtures, leasehold improvements, equipment, merchandise and other personal property installed in the Premises by Tenant or at the direct or indirect expense of Tenant.

  • Damage to Property Of Others 1. We will pay, at replacement cost, up to $1,000 per "occurrence" for "property damage" to property of others caused by an "insured". 2. We will not pay for "property damage": a. To the extent of any amount recoverable under Section I;

  • DAMAGE TO THE PROPERTY If the property is damaged, by fire or other casualty, after the Effective Date and before the Closing, the Seller will bear the risk of loss and the Buyer may cancel this Agreement without liability and the Escrow Money shall be returned to the Buyer. Alternatively, the Buyer will have the option of purchasing the Property at the agreed-upon Purchase Price and the Seller will credit the deductible, if any, and transfer to the Buyer at Closing any insurance proceeds or Seller's claim to any insurance proceeds payable for the damage. The Seller will cooperate with and assist the Buyer in collecting any such proceeds. The Seller shall not settle any insurance claim for damage caused by casualty without the consent of the Buyer.