Destruction Due to Risk Covered by Insurance Sample Clauses

Destruction Due to Risk Covered by Insurance. If, during the Term, the Premises, the Building or the Common Area are totally or partially destroyed from a risk covered by the insurance required to be carried by Landlord in Paragraph 12.07, rendering the Premises totally or partially inaccessible or unusable, Landlord shall restore the Premises, the Building or the Common Area to substantially the same condition as they were in immediately before destruction. Such destruction shall not terminate this Lease. In the event the destruction cannot be repaired within twelve (12) months, however, the Lease may be terminated by Tenant, effective as of the date of destruction, by written notice to Landlord given within thirty (30) days after notice given by Landlord to Tenant of the estimated date for completion of repairs. If Landlord does not provide Tenant with a written notice of an estimated date of repairs within ninety (90) days from the date of destruction, Tenant may elect to terminate the Lease at any time thereafter until Landlord provides a written notice to Tenant of the estimated date of completion of repairs, with a date of completion within twelve (12) months of the date of destruction. If Landlord provides notice of a date of estimated completion, and Tenant does not (or cannot) elect to terminate the Lease, then for each day, except for Unavoidable Delays, that the destruction is not repaired past the estimated date of completion, Landlord shall pay Tenant $1,000.00. If the existing laws do not permit such restoration or if Landlord's Lender requires that insurance proceeds be applied to financing secured by the Building and Landlord is unwilling or unable to perform such restoration with Landlord's own funds, either party may terminate this Lease by giving thirty (30) days notice to the other party.
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Destruction Due to Risk Covered by Insurance. If during the term, the Premises are totally or partially destroyed from a risk covered by the insurance described in Section 20 (Insurance), rendering the Premises totally or partially inaccessible or unusable, Cinelux shall restore the Premises to substantially the same condition as it was in immediately before destruction, whether or not the insurance proceeds are sufficient to cover the actual cost of restoration. Such destruction shall not terminate this Agreement. If the laws existing at that time do not permit the restoration, either party can terminate this Lease immediately by giving notice to the other party.
Sample 1
Destruction Due to Risk Covered by Insurance. If during the term the premises or the building and other improvements in which the Leased Premises are located are totally or partially destroyed from a risk fully covered by the insurance described in Paragraph 10 rendering the Leased Premises totally or partially inaccessible or unusable, Landlord at its election may restore the Leased Premises or the building and other improvements in which the Leased Premises are located to substantially the same condition as they were in immediately before destruction within nine (9) months from the date of destruction. Provided, that this time shall be extended if Landlord is proceeding diligently to restore the premises and if restoration is prevented by a cause beyond Landlord's reasonable control. Such destruction shall not terminate this Lease unless Landlord gives written notice thereof to Tenant. If the existing laws do not permit the restoration, either party can terminate this Lease immediately by giving notice to the other party.
Sample 1
Destruction Due to Risk Covered by Insurance. If a total destruction (the rendering totally unusable of fifty percent (50%) or more of Tenant’s Improvements on the leased Premises), or a partial destruction (less than fifty per cent (50%)) occurs to Tenant-owned Improvements, and the loss is covered by the insurance described in Paragraph 16.2, Tenant shall within ninety (90) days thereafter commence and diligently prosecute the repair, restoration, or replacement such that the completed work, which may be different in design, shall be equal in value, quality and use to the condition of the Improvements before the event giving rise to the work.
Sample 1
Destruction Due to Risk Covered by Insurance. If, during the term, the premises are totally or partially destroyed from a risk covered by the insurance described in Section 6.2, rendering the premises totally or partially inaccessible or unusable, Lessee shall restore the Leased Premises to substantially the same condition as they were in immediately before destruction, provided that the insurance proceeds are sufficient to cover the actual cost of restoration. Such destruction shall not terminate the Lease so long as the insurance proceeds are sufficient to cover the actual costs of restoration, provided that if any insufficiency in coverage is caused by any act or omission of Lessee or Lessee's agents, employees, officers, independent contractors, invitees, sublessees, assignees, or licensees, the Lessee shall not have the option of terminating the Lease and, instead, shall restore the Leased Premises to substantially the same condition as they were in immediately before the destruction. If the existing laws do not permit the restoration, either party can terminate this lease immediately by giving notice to the other party.
Sample 1
Destruction Due to Risk Covered by Insurance. If, during the term of this Lease and any renewal term, the Property is totally or partially destroyed from a risk covered by insurance carried by either Tenant or City for the Property, rendering the Property totally or partially inaccessible or unusable, City shall restore the Property, to substantially the same condition as they were immediately before destruction if they can be repaired within 270 days from date of destruction. Such destruction shall not terminate this Lease. If the existing laws do not permit the restoration, either party can terminate this Lease immediately by giving notice to the other party. Provided, however, if the cost of the restoration exceeds the amount of proceeds received from the insurance, or the estimate of time to fully restore the Property exceeds the lesser of 270 days or the remaining Term of the Lease, City can elect to terminate this Lease by giving notice to Tenant within fifteen (15) days after determining that the restoration cost will exceed the insurance proceeds.
Sample 1
Destruction Due to Risk Covered by Insurance. If during the Term, the Premises are totally or partially destroyed from a risk covered by the insurance described in paragraph 7.2, rendering the Premises totally or partially inaccessible or unusable, Landlord may, at its option, restore the Premises to substantially the same condition as they were in immediately before destruction or terminate this Lease by giving Tenant notice of Landlord's election to terminate this Lease; provided, however, if the restoration will take more than 90 days, Tenant can terminate this Lease immediately by giving notice to Landlord..
Sample 1
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Destruction Due to Risk Covered by Insurance. If, during the Initial Term or Extended Term, if applicable, the Premises are totally or partially destroyed from a risk covered by the insurance described in Section 13, rendering the Premises totally or partially inaccessible or unusable, Tenant, at its cost, shall restore the Premises to substantially the same condition as they were in immediately before the destruction, whether or not the insurance proceeds are sufficient to cover the actual cost of restoration. Such destruction shall not terminate this Lease. If the existing laws do not permit the restoration, following Tenant's exhaustion of all applicable appeal rights, either party can terminate this Lease immediately by giving written notice to the other party, in which case this Lease shall be deemed terminated as of the date of delivery of such notice.
Sample 1

Related to Destruction Due to Risk Covered by Insurance

  • Builder’s Risk Insurance Contractor shall provide a Builder’s Risk Policy to be made payable to the Owner and Contractor, as their interests may appear. The policy amount should be equal to 100% of the Contract Sum, written on a Builder’s Risk “All Risk”, or its equivalent. The policy shall be endorsed as follows: The following may occur without diminishing, changing, altering or otherwise affecting the coverage and protection afforded the insured under this policy:

  • Contractor’s Liability Insurance Contractor shall purchase and maintain such insurance as will protect Contractor from claims set forth below which may arise out of or result from the Contractor’s operations under the Contract, whether such operations be by Contractor or by any subcontractor or by anyone directly or indirectly employed by Contractor, or by anyone for whose acts any other may be liable:

  • Commercial Umbrella Liability Insurance The Contractor shall provide a Commercial Umbrella Liability Insurance to provide excess coverage above the Commercial General Liability, Commercial Business Automobile Liability and the Workers' Compensation and Employers' Liability to satisfy the minimum limits set forth herein. The umbrella coverage shall follow form with the Umbrella limits required as follows: For Contract Amounts Less For Contract Amounts Equal to or Than $5,000,000.00: Greater than $5,000,000: $ 2,000,000 per Occurrence $2,000,000 per Occurrence $ 4,000,000 Aggregate $10,000,000 Aggregate Additional Requirements for Commercial Umbrella Liability Insurance are shown below at Paragraph 1.5.3.3.6.

  • Public Liability Insurance which will provide indemnity against the insured parties legal liability in the event of accidental death of or injury to third party persons and/or accidental loss of or damage to third party property arising directly from the execution of the contract with a limit of indemnity of R 100 million in respect of all claims arising from any one occurrence or series of occurrences consequent on or attributable to one source or original cause. The policy will be subject to a Deductible of R25 000 for Property Damage claims only but R250 000 where Loss or Damage involves Aircraft.

  • Loss, Theft, Destruction or Mutilation Upon receipt by the Company of evidence satisfactory to it, in the exercise of its reasonable discretion, of the ownership and the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, of indemnity reasonably satisfactory to the Company and, in the case of mutilation, upon surrender and cancellation thereof, the Company will execute and deliver in lieu thereof, without expense to the Holder, a new Warrant of like tenor dated the date hereof.

  • Partial Damage - Insured Loss If a Premises Partial Damage that is an Insured Loss occurs, then Lessor shall, at Lessor's expense, repair such damage (but not Lessee's Trade Fixtures or Lessee Owned Alterations and Utility Installations) as soon as reasonably possible and this Lease shall continue in full force and effect; provided, however, that Lessee shall, at Lessor's election, make the repair of any damage or destruction the total cost to repair of which is $10,000 or less, and, in such event, Lessor shall make any applicable insurance proceeds available to Lessee on a reasonable basis for that purpose. Notwithstanding the foregoing, if the required insurance was not in force or the insurance proceeds are not sufficient to effect such repair, the Insuring Party shall promptly contribute the shortage in proceeds (except as to the deductible which is Lessee's responsibility) as and when required to complete said repairs. In the event, however, such shortage was due to the fact that, by reason of the unique nature of the improvements, full replacement cost insurance coverage was not commercially reasonable and available, Lessor shall have no obligation to pay for the shortage in insurance proceeds or to fully restore the unique aspects of the Premises unless Lessee provides Lessor with the funds to cover same, or adequate assurance thereof, within ten (10) days following receipt of written notice of such shortage and request therefor. If Lessor receives said funds or adequate assurance thereof within said ten (10) day period, the party responsible for making the repairs shall complete them as soon as reasonably possible and this Lease shall remain in full force and effect. If such funds or assurance are not received, Lessor may nevertheless elect by written notice to Lessee within ten (10) days thereafter to: (i) make such restoration and repair as is commercially reasonable with Lessor paying any shortage in proceeds, in which case this Lease shall remain in full force and effect, or have this Lease terminate thirty (30) days thereafter. Lessee shall not be entitled to reimbursement of any funds contributed by Lessee to repair any such damage or destruction. Premises Partial Damage due to flood or earthquake shall be subject to Paragraph 9.3, notwithstanding that there may be some insurance coverage, but the net proceeds of any such insurance shall be made available for the repairs if made by either Party.

  • LESSEE'S LIABILITY INSURANCE The LESSEE shall maintain with respect to the leased premises and the property of which the leased premises are a part comprehensive public liability insurance in the amount of $2,000,000 with property damage insurance in limits of $500,000 in responsible companies qualified to do business in Massachusetts and in good standing therein insuring the LESSOR as well as LESSEE against injury to persons or damage to property as provided. The LESSEE shall deposit with the LESSOR certificates of such insurance at or prior to the commencement of the term, and thereafter within thirty (30) days prior to the expiration of any such policies. All such insurance certificates shall provide that such policies shall not be cancelled without at least ten (10) days prior written notice to each.

  • Public Liability and Property Damage Insurance A. During the term of this Agreement, Contractor shall at all times maintain, at its expense, the following coverages and requirements. The comprehensive general liability insurance shall include broad form property damage insurance.

  • Comprehensive Automobile Liability Insurance for coverage of owned and non-owned and hired vehicles, trailers or semi-trailers licensed for travel on public roads, with a minimum combined single limit of One Million Dollars ($1,000,000) each occurrence for bodily injury, including death, and property damage.

  • Comprehensive General Liability Insurance The Lessee shall procure and maintain a valid Comprehensive General Liability Insurance indemnifying the Lessor with minimum coverage of $ for personal injury and $ for damage to property.

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