Common use of Earthquake Repair Costs Clause in Contracts

Earthquake Repair Costs. It is expressly understood and agreed that, in the event that Tenant elects or is required to repair any damage or destruction to the Leased Property resulting from earthquake and as to which Tenant was not required to maintain insurance pursuant to Section 9.1 or as to which Tenant maintained coverage pursuant to Section 9.1, but the proceeds thereof, including the amounts of any deductible, are not sufficient to completely repair, rebuild and restore the Improvements, provided that not less than five (5) full Lease Years remain in the Term (including any exercised Extended Term), Tenant may use funds from the Reserve to pay for the restoration and repair costs and Landlord shall be obligated to pay additional funds into the Reserve to pay for restoration and repair costs (including any deductible and subject to Section 10.2.3) and Landlord shall be obligated to disburse additional funds subject to and upon the terms and conditions of Section 5.1.4(b).

Earthquake Repair Costs. It is expressly understood and agreed that, in the event that Tenant elects or is required to repair any damage or destruction to the Leased Property resulting from earthquake and as to which Tenant was not required to maintain insurance pursuant to Section 9.1 or as to which Tenant maintained coverage pursuant to Section 9.1, but the proceeds thereof, including the amounts of any deductible, are not sufficient to completely repair, rebuild and restore the Improvements, provided that not less than five (5) full Lease Years remain in the Term (including any exercised Extended Term), Tenant may use funds from the Reserve to pay for the restoration and repair costs and Landlord shall be obligated to pay disburse additional funds into from the Reserve to pay for restoration and repair costs (including any deductible and subject to Section 10.2.3) and Landlord shall be obligated to disburse additional funds subject to and upon the terms and conditions of Section 5.1.4(b).