Destruction of Building. In the event that the Building is destroyed to an extent of not less than one-third of the replacement costs thereof, either party may elect to terminate this Lease, whether the Premises be injured or not. A total destruction of the Building shall terminate this Lease.
Destruction of Building. If: the Building is damaged or destroyed by an Insured Risk; the Property is wholly or partly unfit for occupation and use and/or the Common Parts are damaged or destroyed so as to make the Property inaccessible or unusable; and the payment of the insurance monies is not wholly or partly refused because of any act or omission of the Tenant or any undertenant or their respective workers, contractors or agents or any other person at the Property or the Building with the express or implied authority of any of them, then payment of the Rent and Service Charge, or a fair proportion of them according to the nature and extent of the damage, shall be suspended until the Building has been reinstated so as to make the Property fit for occupation and use and the Common Parts accessible and usable. Subject to the provisions of paragraph 3 of Schedule 6 if for any reason the repair, rebuilding or reinstatement of the Building shall be impossible following damage or destruction by any of the Insured Risks: the Landlord's obligation to reinstate the Building contained in paragraph 2 of Schedule 6 shall be deemed to have been discharged; the Landlord shall hold all proceeds of the insurance policy of the Building on trust for the Landlord, and the Tenant, and the Flat Tenants in proportion to their respective interests in the Building at the time of the damage or destruction, as agreed in writing between the Landlord, and the Tenant and the Flat Tenants or failing agreement as determined pursuant to clause 9.3; and the Landlord shall pay such sums due to the Tenant and the Flat Tenants within three months of agreement or on determination pursuant to clause 9.3. Any dispute arising regarding this clause 9 shall be finally determined by arbitration in accordance with the provisions of the Arbitration Xxx 0000. The tribunal shall consist of one arbitrator appointed by the President for the time being of the Royal Institution of Chartered Surveyors. Set-off The Rent, Insurance Rent, Service Charge and all other amounts due under this lease shall be paid by the Tenant in full without any set-off, counterclaim, deduction or withholding (other than any deduction or withholding of tax as required by law).
Destruction of Building. Section 12: If the Demised Premises are damaged or destroyed by fire or other casualty during the term of this Lease, the rent herein reserved shall axxxx entirely in case the Demised Premises are, in the judgment of the Tenant, rendered untenantable, and prorata in case a part only be untenantable, until the Demised Premises or such part are restored to tenantable condition. If such damage or destruction is covered by the insurance provided for in Paragraph 11 above, the Landlord shall with due diligence, repair and restore the Demised Premises to good and tenantable condition. Provided however, that (a) if the destruction or damage amounts to more than 50% of the insurable replacement value of the Demised Premises determined as aforesaid, either Landlord or Tenant may cancel and terminate this Lease by giving written notice to the other party within 30 days after the date such damage or destruction occurs; (b) if the entire Demised Premises are, in the judgment of the Tenant, untenantable, the term of this Lease shall be extended for a period equal to the time required for repair and restoration of the Demised Premises unless terminated under Subparagraph (a) of this Paragraph.
Destruction of Building. In the event that Building is partially destroyed or damaged so as to affect 20% or more of the rentable area of the Building, or in the opinion of landlord the Building is rendered unsafe, and whether or not the Premises are affected, and in the opinion of Landlord (which shall be given by Notice to Tenant within 30 days of the happening of such damage or destruction), cannot be repaired with reasonable diligence within 180 days from the happening of such damage or destruction, Landlord may within 5 days next succeeding the giving of Landlord’s opinion as aforesaid, terminate this Lease by giving to Tenant Notice of such termination, in which event the Term shall cease and be at an end as of the date of such damage or destruction and the Rent and all other payments for which Tenant is liable under the terms of this Lease shall be apportioned and paid in full to the date of such damage or destruction.
Destruction of Building. (a) Notwithstanding any other provision of this Lease, if:
Destruction of Building. If the Building shall be destroyed or damaged and the shareholders shall decide not to repair or rebuild as provided in Paragraph 4;
Destruction of Building. (a) Notwithstanding any other provision of this Lease, if all or any portion of the Building shall be damaged or destroyed, to the extent that the estimated costs of repairing, restoring or rebuilding it shall, by the Architect’s estimate, exceed by 10% or more the proceeds of insurance available to the Landlord for the purpose of repair, restoration or rebuilding, then the Landlord may, by notice to the Tenant given within 30 days of such damage or destruction, terminate this Lease, in which event neither the Landlord nor Tenant shall be bound to repair and the Tenant shall surrender the Premises to the Landlord within 30 days after delivery of its notice of termination and Rent shall be apportioned and paid to the date on which the Tenant delivers vacant possession of the Premises, subject to any abatement to which the Tenant may be entitled pursuant to Section 9.2.
Destruction of Building. Should the Building be partially destroyed or damaged so that twenty percent (20%) or more of the Rentable Area of the Building is affected, or if an independent expert is of the opinion that the Building is rendered unsafe, whether or not the Leased Premises are affected and (which the Landlord shall serve to the Tenant in writing within thirty (30) days following the damage or destruction) that the damage or destruction cannot be repaired with reasonable diligence within one hundred and eighty (180) days of the casualty, the Landlord may, within five (5) days following the above-mentioned notice, terminate the Lease by written notice to the Tenant to that effect, in which case this Lease shall terminate on the date of the damage or the destruction, and the Minimum Rent and all other amounts payable by the Tenant under the Lease shall be calculated and paid in full up to the date of the damage or destruction.
Destruction of Building. In the event of the total destruction of the building by fire or otherwise, or so much thereof that Lessor shall desire to raze the building (whether or not the leased premises be affected), Lessor shall so notify Lessee within 60 days of the casualty, the rent shall be paid up to the date of the casualty, and from the date of the casualty, and thenceforth, this lease shall cease and come to an end.
Destruction of Building. If, during the Term hereof, the ------------ ----------------------- Building is substantially damaged or destroyed by fire or other casualty, then Landlord may terminate this Lease by giving Tenant notice to such effect within thirty (30) days after the date of the casualty. The Term of this Lease shall terminate and expire upon the thirtieth (30th) day after said notice is given, and Tenant shall vacate the Premises and surrender the same to Landlord on or before said date. In the alternative, Landlord shall have the right within thirty (30) days after the occurrence of such casualty to notify Tenant that Landlord shall repair the damaged portion of the Building or rebuild the Building, as the case may be. In such event, Rent shall xxxxx to the extent and during the period for which the Premises are rendered untenable for Tenant's purposes as a result of such casualty. Notwithstanding the foregoing, if the damage or destruction is caused by the gross negligence or willful misconduct of Tenant, its contractors, agents, employees or invitees, (i) Rent shall not xxxxx hereunder and (ii) Tenant shall promptly reimburse Landlord for all costs incurred by Landlord in restoring the Building, upon submission of reasonable supportive documentation evidencing Landlord's expenses. In the event such damage or destruction takes place during the last two (2) years of the Term, Landlord shall have the right to terminate this Lease by giving notice to Tenant as aforesaid, notwithstanding the fact that Landlord may rebuild the Building or repair the damage thereto. The Building shall be deemed substantially damaged or destroyed if the cost of repair and restoration is equal to thirty percent (30%) or more of the then replacement cost of the Building. Notwithstanding anything to the contrary contained above in this Section 6.2, if the Building is substantially damaged or destroyed, and if Landlord is unable, within thirty (30) days following such damage or destruction, to provide Tenant with a good faith, reasonable assurance that Tenant can be given Access within one hundred eighty (180) days after the date of the damage or destruction, Tenant may terminate this Lease upon ten (10) days' written notice to Landlord, given at any time within the earlier of sixty (60) days following such damage or destruction or thirty (30) days following Landlord's notice to Tenant that Landlord is unable to deliver the above-described assurance to Tenant. In the event that this Lease is n...
