DAMAGE TO OR DESTRUCTION OF PREMISES. (a) If, during the Term, the Premises or any other portion of the Building (including, without limitation, the rooftop) is damaged by fire, flood, windstorm, strikes, riots, civil commotions, acts of public enemy, acts of God, or other casualty (collectively, a “Casualty”) so that the Premises are rendered wholly or substantially unfit for occupancy or unsuitable for the conduct of the Business, such that the Premises cannot be repaired within one hundred eighty (180) days from the time of such damage, then this Lease, at the option of the Landlord or Tenant, may be terminated as of the date of such damage. Landlord shall give Tenant written notice within thirty (30) days of the date of damage if such damage cannot be repaired within one hundred eighty (180) days and whether it will elect to terminate this Lease or repair or rebuild the Premises. Should Landlord notify Tenant that the damages cannot be repaired within one hundred eighty (180) days and that it has elected to perform such repairs, Tenant shall have thirty (30) business days from receipt of such notice to notify Landlord in writing that it has elected to terminate this Lease. Likewise if a substantial portion of the Building (but not a substantial portion of the Premises) is so damaged such that Landlord determines that it will not repair such damages, and/or restore the Building, then Landlord at its sole option within sixty (60) days after such Casualty, may terminate this Lease upon written notice to Tenant. In the event that either Landlord or Tenant elects to terminate this Lease, then Tenant shall pay the Rent apportioned to the time of damage, and Tenant shall immediately surrender the Premises on the effective date of the termination of this Lease to Landlord who may enter upon and repossess the same and all further rights and obligations of the parties hereunder will terminate. If the Lease is not terminated pursuant to the terms hereof, Landlord shall repair or replace as required such damage to the Premises (but not any tenant improvements made by Tenant) and this Lease shall not be affected in any manner, except that the Rent shall be suspended from the date of such damage until the earlier of thirty (30) days from the date Landlord delivers the Premises to Tenant for the purpose of Tenant making tenant improvements thereto or the date the Premises are substantially ready for occupancy by Tenant.
DAMAGE TO OR DESTRUCTION OF PREMISES. 19.1 If the main residential Building on the Property is destroyed or so damaged that it can no longer be beneficially occupied, this lease shall terminate when that happens unless the parties agree in writing otherwise.
DAMAGE TO OR DESTRUCTION OF PREMISES. 13.1 If the Premises are damaged by fire or other casualty or if the Building is so damaged thereby restricting the use of the Premises then the Rent will xxxxx in whole or in part according to the portion of the Premises which is non-usable by the Tenant until such damage is repaired and the Tenant is able to operate its business therefrom.
DAMAGE TO OR DESTRUCTION OF PREMISES. In the event of any damage to or destruction of the Premises, Borrower shall give prompt written notice to Lender and, provided Lender makes the Proceeds available for the costs of repair, restoration and rebuilding, Borrower shall promptly commence and diligently continue to completion the repair, restoration and rebuilding of the Premises so damaged or destroyed in full compliance with all legal requirements and with the provisions of Section 6.1.F below, and free and clear from any and all liens and claims. Such repair, restoration and rebuilding of the Premises are sometimes hereinafter collectively referred to as the "Work." Borrower shall not adjust, compromise or settle any claim(s) for insurance Proceeds without the prior written consent of Lender unless such claim(s) does not exceed $100,000 in the aggregate in which case no consent of Lender is required. Subject to Sections 6.1E and F, below, Lender shall have the option in its sole discretion to apply any insurance Proceeds it may receive pursuant to the Mortgage (less any cost to Lender of recovering and paying out such Proceeds, including reasonable attorneys' fees) to the payment of the Indebtedness or to allow all or a portion of such Proceeds to be used for the Work. If any insurance Proceeds are applied to reduce the Indebtedness, Lender shall apply the same in the following order:
DAMAGE TO OR DESTRUCTION OF PREMISES. 6.0.01 Provided that if during the Term hereby demised or any extension thereof, the Demised Premises shall be damaged or destroyed and the Tenant is not required by the terms of this Lease to repair such damage, the Landlord may repair or rebuild the Demised Premises or terminate this Lease. If the Landlord elects to repair or rebuild the Demised Premises, for the duration of such work the Rent shall xxxxx in the proportion that the part of the Demised Premises rendered unfit for occupancy bears to the whole of the Demised Premises until the Demised Premises are rebuilt; and the Landlord agrees that it will with reasonable diligence subject always to the provisions of paragraphs 6.0.02.
DAMAGE TO OR DESTRUCTION OF PREMISES. 12.01. If, during the Term, the Building or the Premises are destroyed by any cause whatsoever, or partially destroyed by any cause, so as to render the Premises unfit for occupancy or occupation, or incapable of access, or if the Premises shall be badly damaged that, in the opinion of the an architect selected by the Tenant and approved by the Landlord, acting reasonably (the “Architect”), repairs cannot be completed within One Hundred Eighty (180) days of the occurrence of such damage, then this Lease, at the option of the Landlord or the Tenant, shall cease and terminate and become null and void from the date of such damage or destruction and the Tenant shall thereupon surrender the Premises and all interest therein to the Landlord, and the Tenant shall pay rent only to the date of such surrender. The Landlord will not exercise its termination right hereunder in a manner discriminatory as against the Tenant vis a vis other tenants of the Building.
DAMAGE TO OR DESTRUCTION OF PREMISES. If the Premises should be damaged or destroyed by any cause Lessee shall not be entitled to terminate this Lease and Lessor shall, with reasonable speed, repair or rebuild the Premises so that they are restored to the same utility for the uses described herein that they had immediately prior to the happening of such damage or destruction, to the extend possible with the insurance proceeds paid to Lessor as a result of the damage or destruction. During the period of time that Lessee is unable to occupy the Premises for its intended uses as described herein due to damage or destruction not caused, directly or indirectly, by the conduct of Lessee, its agents, employees, visitors or invitees, the basic rent (as set forth in Section 3.1) shall be reduced by an amount which bears the same ratio to the basic rent hereunder as the unusable square footage bears to the total number of square feet comprising the Premises. In the event that the repair or rebuilding of the Premises, as described in this paragraph, is not completed within 180 days of the date the damage or destruction occurred, then Lessee may terminate the Lease by providing prior written notice to Lessor of its intention to terminate.
DAMAGE TO OR DESTRUCTION OF PREMISES. If, in the opinion of Sublessor, the Apartment, or any part thereof, is rendered unusable because the Apartment, any part thereof, or the building in which the Apartment is located is: (a) destroyed or damaged by fire or other casualty or (b) taken by eminent domain, then this Sublease may terminate if Sublessor so elects upon 30 days written notice to Sublessees. If this Sublease is not so terminated, a proportionate reduction in rent, determined by Sublessor, will be allowed until the Apartment and all parts thereof are returned to usable conditions by Sublessor; provided, however, that such reduction will be allowed only if the damage occurred through no fault of Sublessees.
DAMAGE TO OR DESTRUCTION OF PREMISES. If the Premises should be damaged or destroyed by any cause Lessee shall not be entitled to terminate this Lease and Lessor shall, with reasonable speed, repair or rebuild the Premises so that they are restored to the same utility for the uses described herein that they had immediately prior to the happening of such damage or destruction, to the extent possible with the insurance proceeds paid to Lessor as a result of the damage or destruction. So long as Lessee shall be unable to occupy the Premises for the uses described herein because of any damage or destruction not caused by the conduct of Lessee, its agents, employees, visitors or invitees, its basic rent shall be reduced by an amount which bears the same ratio to the basic rent hereunder as the unusable square footage bears to the total number of square feet comprising the Premises.
DAMAGE TO OR DESTRUCTION OF PREMISES. 18.1 If the Property is destroyed or damaged because of any force maior (act of God or nature) or the acts or omissions of others over whom the Lessor has no direct authority or control to such an extent, that the Property can no longer be beneficially occupied, this lease will terminate with immediate effect happens, unless the parties agree in writing otherwise.
