Common use of FIRE DAMAGE Clause in Contracts

FIRE DAMAGE. a. If, after the date hereof, the Demised Premises is damaged by fire, enemy action, or other casualty (such damage being hereafter called "fire damage"), Landlord shall repair or restore the Demised Premises, except Landlord shall have the option not to repair or restore the fire damage if: (i) the fire damage shall be to more than twenty (20%) percent of the Building; or (ii) there shall be remaining less than two (2) Lease Years remaining of the then current term of this Lease; or (iii) the fire damage shall be uninsured or if insured, the mortgagee(s) shall not release to Landlord sufficient insurance proceeds to repair or restore; or (iii) the fire damage shall be uninsured or if insured, the mortgagee(s) shall not release to Landlord sufficient insurance proceeds to repair or restore; or (iv) if Landlord is unable to obtain any necessary governmental approvals necessary to repair or restore within ninety (90) days of its application for same, after using reasonable diligence to obtain same during said ninety (90) day period. In the event Landlord shall repair or restore the fire damage, there shall be a fair and proportionate abatement of all rent payable hereunder according to the time during which and the portion or extent to which the Demised Premises may not be used by Tenant. b. If Landlord shall elect not to repair or restore the Demised Premises pursuant to paragraph 15(a) above, this Lease shall terminate on the date of occurrence of the fire damage. Landlord shall notify Tenant in writing not more than thirty (30) days after the occurrence of the fire damage if it elects not to repair or restore, in which event Landlord shall return to Tenant a fair and proportionate rebate of all rent paid in advance to Landlord by Tenant, if any, prorated as of the date of the occurrence of the fire damage.

FIRE DAMAGE. a. If, after the date hereof, the Demised Premises is demised premises or any part of the Building of which the demised premises are a part, are damaged by fire, enemy action, or other casualty (such damage being hereafter called "fire damage"), Landlord shall repair or restore the Demised Premisessaid premises, except that Landlord shall have the option not to repair or restore the fire damage if: (i) the fire damage shall be to more than twenty (20%) percent of the Building; or (ii) there shall be remaining less than two three (23) years on Tenant's Lease Years remaining after exercise of the then current term of this Lease; or (iii) the fire damage shall be uninsured or if insured, the mortgagee(s) shall not release to Landlord sufficient insurance proceeds to repair or restoreany options exercisable by Tenant; or (iii) the fire damage shall be uninsured or if insured, the mortgagee(s) shall not release to Landlord sufficient insurance proceeds to repair or restore; or (ivii) if Landlord is unable to obtain any necessary governmental approvals necessary to repair or restore within ninety (90) days of its application for same, after using reasonable diligence to obtain same during said ninety (90) day period. In Landlord agrees to apply for any necessary approvals within thirty (30) days of the event Landlord shall repair or restore the fire damage, there shall be a fair and proportionate abatement of all rent payable hereunder according to the time during which and the portion or extent to which the Demised Premises may not be used by Tenant. b. If Landlord shall shall, in accordance with subparagraph a. above, elect not to repair or restore the Demised Premises pursuant to paragraph 15(a) abovesaid premises, this Lease shall terminate on the date of occurrence of the fire damage. . c. If for any reason Landlord shall notify Tenant in writing not more than thirty restore the Building within one hundred eighty (30180) days after from the occurrence date that Landlord obtains its governmental approval, Tenant shall have a right exercisable by written notice received by Landlord within Fifteen (15) days of the fire damage if it elects not expiration of said one hundred eighty (180) day period, to repair or restore, in which event Landlord terminate this Lease. Time shall return to Tenant a fair and proportionate rebate of all rent paid in advance to Landlord by Tenant, if any, prorated as be of the date essence. d. During any time Tenant cannot use all or a portion of the occurrence demised premises, there shall be a proportionate abatement of the fire damagerent.

FIRE DAMAGE. a. If, after the date hereof, the Demised Premises is damaged by fire, enemy action, or other casualty which shall result in a significant interference with the conduct of Tenant’s business at the Demised Premises and Landlord is so notified in writing by Tenant (such damage being hereafter called "“fire damage"”), Landlord shall shall, at its option, repair or restore the Demised Premises, except . Landlord shall have must repair the option Demised Premises if Landlord’s costs do not exceed $100,000.00 above any insurance received. In the event Landlord elects to repair or restore the fire damage if: (i) the fire damage shall be to more than twenty (20%) percent of the Building; or (ii) there shall be remaining less than two (2) Lease Years remaining of the then current term of this Lease; or (iii) the fire damage shall be uninsured or if insured, the mortgagee(s) shall not release to Landlord sufficient insurance proceeds to repair or restore; or (iii) the fire damage shall be uninsured or if insured, the mortgagee(s) shall not release to Landlord sufficient insurance proceeds to repair or restore; or (iv) if Landlord is unable to obtain any necessary governmental approvals necessary to repair or restore within ninety (90) days of its application for same, after using reasonable diligence to obtain same during said ninety (90) day period. In the event Landlord shall repair or restore the fire damageDemised Premises, there shall be a fair and proportionate abatement of all rent payable hereunder according to the time during which which, and the portion or extent to which which, the Demised Premises may not be used by Tenant. b. If In the event Landlord shall elect not to repair or restore the Demised Premises pursuant fire damage, Landlord shall notify Tenant in writing of the time required to paragraph 15(arepair or restore. In the event Landlord shall notify Tenant that such time shall exceed one hundred eighty (180) above, this Lease shall terminate on days from the date of occurrence of the fire damage. , Tenant may elect to terminate this Lease by written notice to Landlord shall notify Tenant in writing not more than thirty within ten (3010) days after the occurrence of receiving Landlord’s notice, time being of the fire damage if it elects not essence. Tenant’s failure to repair or restore, in which timely exercise this option to terminate shall be deemed a waiver of this option. In the event Landlord shall return to Tenant a fair and proportionate rebate of all rent paid in advance to Landlord not substantially complete the repairs by Tenant, if any, prorated as of the 180th day following the date of the occurrence fire damage, Tenant may upon written notice to Landlord terminate this Lease. In the event Tenant fails to exercise this option by the 185th day following the date of the fire damage, time being of the essence, Tenant shall be deemed to have waived its option to terminate.