Common use of Insured Damage Clause in Contracts

Insured Damage. No loss or damage by fire or any other cause resulting in either partial or total destruction of the Improvements or any other improvements now or hereafter located on the Premises, including any fixtures, personal property, equipment or machinery used or intended to be used in connection with the Premises or Improvements, shall (except as otherwise provided in Subsections 11.1B or 11.2 below) operate to terminate this Ground Lease or to relieve or discharge Tenant from the payment of any Rent, or other amounts payable hereunder, as and when they become due and payable, or from the performance and observance of any of the agreements, covenants and conditions herein contained to be performed and observed by Tenant. Tenant covenants to repair, reconstruct, and/or replace or cause to be repaired, reconstructed and/or replaced the Improvements and any other improvements now or hereafter located on the Premises, including any fixtures, personal property, equipment or machinery used or intended to be used in connection with the Premises or Improvements, so damaged or destroyed. Subject to the rights of any Ground Leasehold Mortgagee, Tenant also covenants that all insurance proceeds will be deposited with a builder’s control company, title company, or bank selected by the mutual agreement of the parties (“Insurance Trustee”) and applied to the repair, reconstruction and/or replacement described herein. Tenant’s failure to make such full repair, restoration and replacement under any conditions in which it was elected or required so to do shall constitute a default by Tenant under this Ground Lease.

Insured Damage. No loss or damage by fire or any other cause resulting in either partial or total destruction of the Improvements Facility or any other improvements now or hereafter located on the Premises, including any fixtures, personal property, equipment or machinery used or intended to be used in connection with the Premises or ImprovementsFacility, shall (except as otherwise provided in Subsections 11.1B Sections 11.1.B or 11.2 11.2, below) operate to terminate this Ground Lease or to relieve or discharge Tenant from the payment of any Rent, or other amounts payable hereunder, as and when they become due and payable, or from the performance and observance of any of the agreements, covenants and conditions herein contained to be performed and observed by Tenant. Provided however, Rent shall ▇▇▇▇▇ during any period of time after the occurrence of such casualty if Tenant can no longer operate its business in the Facility. Tenant covenants to repair, reconstruct, and/or replace or cause to be repaired, reconstructed and/or replaced the Improvements Facility and any other improvements now or hereafter located on the Premises, including any fixtures, personal property, equipment or machinery used or intended to be used in connection with the Premises or ImprovementsFacility, so damaged or destroyed. Subject to the rights of any Ground Leasehold Mortgagee, Mortgagee (as defined in Section 14.2 below) Tenant also covenants that all insurance proceeds will be deposited with a builder’s control company, title company, or bank selected by the mutual agreement of the parties (“Insurance Trustee”) Trustee and applied to the repair, reconstruction and/or replacement described herein. Tenant’s failure to make such full repair, restoration and replacement under any conditions in which it was elected or required so to do shall constitute a default by Tenant under this Ground Lease.