Common use of Destruction Not Rendering Facility Unsuitable for its Primary Intended Use Clause in Contracts

Destruction Not Rendering Facility Unsuitable for its Primary Intended Use. If during the Term, the Leased Property is totally or partially destroyed but the Facility is not thereby rendered Unsuitable For Its Primary Intended Use, Tenant shall diligently restore the Facility to substantially the same condition as existed immediately before the damage or destruction; provided, however, Tenant shall not be required to restore Tenant's Personal Property or any Tenant Improvements if failure to do so does not adversely affect the amount of Additional Rent payable hereunder. Such damage or destruction shall not terminate this Lease; provided further, however, if Tenant and Landlord cannot within nine (9) months after said damage obtain all necessary governmental approvals, including building permits, licenses, conditional use permits and any certificates of need, after diligent efforts to do so in order to be able to perform all required repair and restoration work and to operate the Facility for its Primary Intended Use in substantially the same manner as immediately prior to such damage or destruction, Tenant may terminate this Lease upon thirty (30) days prior written notice to Landlord; provided further, however, if (i) Landlord notifies Tenant in writing within fifteen (15) days after Landlord's receipt of Tenant's notice of termination that Landlord intends to restore the Facility to substantially the same condition as existed immediately before the damage and destruction, and (ii) Landlord diligently commences and prosecutes such restoration and completes such restoration within nine (9) months after the date of Tenant's notice of termination, then Tenant's election to terminate this Lease shall be deemed rescinded and this Lease shall remain in full force and effect. Upon any such termination of this Lease by Tenant or upon Landlord's election to restore the Facility as provided in this section, Landlord shall be entitled to retain all insurance proceeds, grossed up by Tenant to account for the deductible or any self-insured retention; provided, further, that Tenant shall be entitled to retain or receive all insurance proceeds relating to Tenant's Personal Property and the Tenant Improvements.

Appears in 1 contract

Samples: Lease Agreement (Eldertrust)

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Destruction Not Rendering Facility Unsuitable for its Primary Intended Use. If during the Term, the Leased Property is totally or partially destroyed but the Facility is not thereby rendered Unsuitable For Its Primary Intended Use, Tenant shall diligently restore the Facility to substantially the same condition as existed immediately before the damage or destruction; provided, however, Tenant shall not be required to restore Tenant's Personal Property or any Tenant Improvements if failure to do so does not adversely affect the amount of Additional Rent payable hereunder. Such damage or destruction shall not terminate this Lease; provided further, however, if Tenant and Landlord cannot within nine twelve (912) months after said damage obtain all necessary governmental approvals, including building permits, licenses, conditional use permits and any certificates of need, after diligent efforts to do so in order so, necessary to be able to perform all required repair and restoration work and to operate restore the Facility for its Primary Intended Use in to substantially the same manner condition as existed immediately prior to such before the damage or destruction, Tenant may terminate this Lease upon thirty (30) days prior written notice to Landlord; provided further, however, if (i) Landlord notifies Tenant in writing within fifteen (15) days after Landlord's receipt of Tenant's notice of termination that Landlord intends to restore the Facility to substantially the same condition as existed immediately before the damage and destruction, and (ii) Landlord diligently commences and prosecutes such restoration and completes such restoration within nine twelve (912) months after the date of Tenant's notice of termination, then Tenant's election to terminate this Lease shall be deemed rescinded and this Lease shall remain in full force and effect. Upon any such termination of this Lease by Tenant or upon Landlord's election to restore the Facility as provided in this section, Landlord shall be entitled to retain all insurance proceeds, grossed up by Tenant to account for the deductible or any self-insured retentiondeductible; provided, further, that Tenant shall be entitled to retain or receive all insurance proceeds relating to Tenant's Personal Property and the Tenant ImprovementsImprovements to the extent that same is not Landlord's Personal Property or has not been deemed to be Landlord's Personal Property pursuant to Section 6.5 hereof.

Appears in 1 contract

Samples: Master Agreement (Eldertrust)

Destruction Not Rendering Facility Unsuitable for its Primary Intended Use. If during the Term, the Leased Property is totally or partially destroyed but the Facility is not thereby rendered Unsuitable For Its Primary Intended Use, Tenant shall diligently restore the Facility to substantially the same condition as existed immediately before the damage or destruction; provided, however, Tenant shall not be required to restore Tenant's Personal Property or any Tenant Improvements if failure to do so does not adversely affect the amount of Additional Rent payable hereunder. Such damage or destruction shall not terminate this Lease; provided further, however, if Tenant and Landlord cannot within nine (9) months after said damage obtain all necessary governmental approvals, including building permits, licenses, conditional use permits and any certificates of need, after diligent efforts to do so in order to be able to perform all required repair and restoration work and to operate the Facility for its Primary Intended Use in substantially the same manner as immediately prior to such damage or destruction, Tenant may terminate this Lease upon thirty (30) days prior written notice to Landlord; provided further, however, if (i) Landlord notifies Tenant in writing within fifteen (15) days after of Landlord's receipt of Tenant's notice of termination that Landlord intends to restore the Facility to substantially the same condition as existed immediately before the damage and destruction, destruction and (ii) Landlord diligently commences and prosecutes such restoration and completes such restoration within nine (9) months after the date of Tenant's notice of termination, then Tenant's election to terminate this the Lease shall be deemed rescinded and this Lease shall remain in full force and effect. Upon any such termination of this the Lease by Tenant or upon Landlord's election to restore the Facility as provided in this section, Landlord shall be entitled to retain all insurance proceeds, grossed up by Tenant to account for the deductible or any self-insured retention; provided, further, that Tenant shall be entitled to retain or receive all insurance proceeds relating to Tenant's Personal Property and the Tenant Improvements.

Appears in 1 contract

Samples: Lease Agreement (Eldertrust)

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Destruction Not Rendering Facility Unsuitable for its Primary Intended Use. If during the Term, the Leased Property is totally or partially destroyed but the Facility is not thereby rendered Unsuitable For Its Primary Intended Use, Tenant shall diligently restore the Facility to substantially the same condition as existed immediately before the damage or destruction; provided, however, Tenant shall not be required to restore Tenant's Personal Property or any Tenant Improvements if failure to do so does not adversely affect the amount of Additional Rent payable hereunder. Such damage or destruction shall not terminate this Lease; provided further, however, if Tenant and Landlord cannot within nine (9) months after said damage obtain all necessary governmental approvals, including building permits, licenses, conditional use permits and any certificates of need, after diligent efforts to do so in order to be able to perform all required repair and restoration work and to operate the Facility for its Primary Intended Use in substantially the same manner as immediately prior to such damage or destruction, Tenant may terminate this Lease upon thirty (30) days prior written notice to Landlord; provided further, however, if (i) Landlord notifies Tenant in writing within fifteen (15) days after Landlord's receipt of Tenant's notice of termination that Landlord intends to restore the Facility to substantially the same condition as existed immediately before the damage and destruction, and (ii) Landlord diligently commences and prosecutes such restoration and completes such restoration within nine (9) months after the date of Tenant's notice of termination, then Tenant's election to terminate this Lease shall be deemed rescinded and this Lease shall remain in full force and effect. Upon any such termination of this Lease by Tenant or upon Landlord's election to restore the Facility as provided in this section, Landlord shall be entitled to retain all insurance proceeds, grossed up by Tenant to account for the deductible or any self-insured retention; provided, further, that Tenant shall be entitled to retain or receive all insurance proceeds relating to Tenant's Personal Property and the Tenant Improvements.

Appears in 1 contract

Samples: Sublease Agreement (Eldertrust)

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