Damage to or Destruction of the Premises. In the event the Premises are materially damaged in part or destroyed in their entirety, then either party may, at its option and upon written notice to the other party, cancel this Lease effective as of the date of the damage or destruction. If neither party elects to terminate this Lease as provided in this Section 7.6, then Landlord shall restore the Premises to the conditions existing immediately prior to such damage or destruction to the extent insurance proceeds are actually received by Landlord. For purposes of this Section 7.6, “materiality” shall be deemed to be damage to at least 40% of the floor area located within the Premises. If the Premises are not materially damaged, then Landlord agrees to rebuild or repair the Premises to the extent insurance proceeds are actually received by Landlord; provided, however, that if material damage to the Premises occurs during any renewal term, Landlord shall have no obligation to rebuild or repair the Premises if such as determined by Landlord is not commercially practicable during the Term remaining as extended, and both parties shall be released from any further liability under this Lease; provided, further, that Landlord shall have no obligation to repair any material damage unless Tenant waives its right to terminate this Lease in accordance with Section 4.11 above and Tenant renews the lease for any remaining Renewal Terms. Tenant shall remain responsible for the Base Rent for the undamaged portion of the Premises which Tenant is reasonably able to use, if any, in an amount that is determined by multiplying Base Rent by the fraction that is derived by dividing the total undamaged floor area Tenant occupies by the total floor area of the Premises.
Damage to or Destruction of the Premises. 13.1 In the event of the premises being destroyed and therefore rendered totally unfit for occupation, this lease shall be terminated automatically.
Damage to or Destruction of the Premises. 16.1 In the event of the premises being destroyed and there rendered totally unfit for occupation, this agreement shall be terminated automatically
Damage to or Destruction of the Premises. 1. The Authority shall not be responsible for restoration or reconstruction of the Premises in case of damage or destruction by fire or any other external cause, including force majeure.
Damage to or Destruction of the Premises. 16.1 If any Building or Improvement is destroyed or so damaged so as to render the Premises untenantable, the Tenant will advise the Council within three (3) months of the date of the destruction or damage whether the Tenant wishes to restore its Buildings and Improvements. The Tenant will provide the Council with reasonable evidence that it has the funds and is able to obtain all the necessary permits and consents to carry out the work. This Lease will continue and the Tenant will promptly restore its Buildings and Improvements within a reasonable period, if the Council advises the Tenant (in writing) that the Council is reasonably satisfied that the Tenant is able to do so. The Tenant will comply with clause 18.1 in relation to the restoration work.
Damage to or Destruction of the Premises. Section 15.01 If the Premises or any part thereof shall be damaged or rendered Untenantable by fire or other insured casualty and Tenant gives prompt notice thereof to Landlord and this Lease is not terminated pursuant to any provision of this Article, promptly after the collection of the insurance proceeds attributable to such damage (which collection Landlord shall promptly seek), Landlord shall, at its expense (but only to the extent of insurance proceeds made available to Landlord, provided that Landlord shall have carried the insurance it is required to carry under this Lease, and in any event Landlord shall be required to fund the amount of any deductible thereunder and the amount that would have been paid had Landlord carried the original insurance), proceed with reasonable diligence to repair or cause to be repaired such damage to the Building, Building Equipment and Tenant’s Work (“Landlord’s Restoration Work”). All other repairs required by reason of such casualty that solely relate to Tenant Improvements (including Tenant’s Work) to the extent not covered as part of “replacement value” under Landlord’s insurance policies, shall be performed by Tenant, at its sole cost and expense, promptly and with due diligence (“Tenant’s Restoration Work”). Except as provided in Section 15.06, the Annual Base Rent and Additional Rent shall be equitably abated to the extent that the Premises shall have been rendered Untenantable, such abatement to be from the date of such damage to the date when Landlord’s Restoration Work has been substantially completed plus a reasonable additional time thereafter for Tenant to perform Tenant’s Restoration Work but in no event longer than one hundred fifty (150) days; provided, however, should Tenant reoccupy any portion of the Premises for the conduct of business earlier, then the Annual Base Rent and Additional Rent allocable to such reoccupied portion, based upon the proportion which the reoccupied portion of the Premises bears to the total area of the Premises, shall be payable by Tenant from the date of such occupancy.
Damage to or Destruction of the Premises. If the Building or Premises are damaged by fire or other casualty and Sublandlord shall, pursuant to the terms of the Lease, elect to terminate the Lease, then this Sublease shall cease and terminate on the date of termination of the Lease, and Rent shall be apportioned from the time of the damage as provided in the Lease. Otherwise, this Sublease shall remain in full force and effect, and Rent shall xxxxx in proportion to any abatement under this Lease. Sublandlord shall have no obligation hereunder to repair any portion of the Building or Premises, whether or not this Sublease shall be terminated, which obligation shall be Landlord’s to the extent required under the Lease. If all or any part of the Premises is damaged and this Sublease is not terminated, then Subtenant shall have such repair and restoration obligations as are set forth in the Lease.
Damage to or Destruction of the Premises. If the Premises or the Building shall be so damaged by fire or other cause beyond the control of and without the negligence of Tenant or Tenant's employees, guests, customers or invitees, so as to be wholly un-tenantable, and in judgment of Landlord the Premises cannot in the exercise of reasonable diligence be rendered tenantable within a period of thirty (30) days from the date of said damage, this Lease shall terminate, the termination to be deemed effective on the day following such damage, but such termination shall not affect the obligations of Tenant existing at the date of termination. If, in the judgment of Landlord, the damage may be repaired within thirty (30) days (whether or not repair is actually completed within such period), this Lease and the term hereunder shall not terminate, and the Landlord shall proceed at Landlord's expense to repair such damage, and the rental hereunder shall xxxxx proportionately according to the nature and extent of such damage until such repairs shall have been completed by Landlord.
Damage to or Destruction of the Premises. 13.1 The Tenant acknowledges for the purposes of section 271(2) of the Property Law Xxx 0000, that where required under this Lease, the Tenant will meet the cost of making good damage or destruction to the Premises or the Building arising from an Excepted Event in any of the following circumstances:
Damage to or Destruction of the Premises. SECTION 12.01. If the Premises or any part thereof shall be partially damaged by fire or other casualty and Tenant gives prompt notice thereof to Landlord, subject to its rights under Section 12.02 , Landlord shall proceed with reasonable diligence to repair or cause such damage to be repaired to restore the Premises to the condition the Premises were in before the tenant installation was installed. The Fixed Rent and Additional Rent shall be abated to the extent that the Premises shall have been rendered untenantable, such abatement to be from the date of such damage or destruction to the date the Premises shall be substantially repaired, restored or rebuilt. If Tenant shall reoccupy portions of the Premises as
