Common use of Insured Loss Clause in Contracts

Insured Loss. If an Insured Loss occurs, then Lessor shall, at Lessor's expense, repair such damage (but not Lessee's Trade Fixtures or Lessee Owned Alterations and Utility Installations) as soon as reasonably possible and this Lease shall continue in full force and effect; provided, however, that Lessee shall, at Lessor's election, make the repair of any damage or destruction and, in such event, Lessor shall make the insurance proceeds available to Lessee on a reasonable basis for that purpose. In the event Lessor elects to require that Lessee restore the Premises, Lessee shall have twelve (12) months to restore the Premises (during which rent shall be abated) to complete restoration of the Premises (the "Lessee Restoration Period"). Rent shall recommence at the end of the Lessee Restoration Period. The Lessee Restoration Period shall be extended to the extent any delay in restoration is caused by a force majeure even including, but not limited to, strike, labor troubles, acts of God, acts of government, unavailability of materials or labor, or any other cause beyond the control of Lessee. Notwithstanding the foregoing, if the required insurance was not in force or the insurance proceeds are not sufficient to effect such repair, the Insuring Party shall promptly contribute the shortage in proceeds (except as to the deductible which is Lessee's responsibility) as and when required to complete said repairs. In the event, however, the shortage in proceeds was due to the fact that, by reason of the unique nature of the improvements, full replacement cost insurance coverage was not commercially reasonable and available, Lessor shall have no obligation to pay for the shortage in insurance proceeds or to fully restore the unique aspects of the Premises unless Lessee provides Lessor with the funds to cover same, or adequate assurance thereof, within ten (10) days following receipt of written notice of such shortage and request therefor. If Lessor receives said funds or adequate assurance thereof within said ten (10) day period, the party responsible for making the repairs shall complete them as soon as reasonably possible and this Lease shall remain in full force and effect. If Lessor does not receive such funds or within said period assurance, Lessor may nevertheless elect by written notice to Lessee within ten (10) days thereafter to make such restoration and repair as is commercially reasonable with Lessor paying any shortage in proceeds, in which case this Lease shall remain in full force and effect. If in such case Lessor does not so elect, then this Lease shall terminate sixty (60) days following the occurrence of the damage or destruction. Unless otherwise agreed, Lessee shall in no event have any right to reimbursement from Lessor for

Insured Loss. If an (i) there is a Tenant Insured Loss occursor a Landlord Insured Loss and (ii)Tenant exercises Tenant's Casualty Loss Termination Right, then Lessor shall(a) Tenant shall assign to Landlord and Landlord's lender, as their interests may appear, all of its right, title and interest in the Property Insurance covering the Insured Premises obtained by Tenant pursuant to Section 14.1.2 or otherwise, and (b) if Tenant has breached its obligation to obtain Property Insurance pursuant to Section 14.1.2, then Tenant shall cause to be paid to Landlord the full amount of the proceeds that would have been made available by the insurer for such loss as if Tenant had in fact carried the insurance required of Tenant pursuant to Section 14.1.2. Subject to the other provisions of this Section 27, if at Lessorany time during the term of this Lease (i) there is a Tenant Insured Loss or Landlord Insured Loss and (ii) neither Landlord nor Tenant exercises their respective Landlord's expenseCasualty Loss Termination Right or Tenant's Casualty Loss Termination Right in accordance with this Section 27, repair such damage then (but not Lessee's Trade Fixtures or Lessee Owned Alterations and Utility Installationsa) as soon as reasonably possible and this Lease shall continue in full force and effect; provided, however, that Lessee shall, at Lessor's election, make (b) Tenant shall restore the repair of any damage or destruction Insured Premises and, in if Tenant so elects, such event, Lessor shall make the insurance proceeds available to Lessee on a reasonable basis for that purpose. In the event Lessor elects to require that Lessee restore the Premises, Lessee shall have twelve (12) months other Tenant Improvements and other Tenant's Property as Tenant may elect to restore the Premises (during which rent shall be abated) to complete restoration of the Premises (the "Lessee Restoration Period"). Rent shall recommence at the end of the Lessee Restoration Period. The Lessee Restoration Period shall be extended to the extent any delay in restoration is caused by a force majeure even including, but not limited to, strike, labor troubles, acts of God, acts of government, unavailability of materials or labor, or any other cause beyond the control of Lessee. Notwithstanding the foregoing, if the required insurance was not in force or the insurance proceeds are not sufficient to effect such repair, the Insuring Party shall promptly contribute the shortage in proceeds (except as to the deductible which is Lessee's responsibility) as and when required to complete said repairs. In the event, however, the shortage in proceeds was due to the fact that, by reason of the unique nature of the improvements, full replacement cost insurance coverage was not commercially reasonable and available, Lessor shall have no obligation to pay for the shortage in insurance proceeds or to fully restore the unique aspects of the Premises unless Lessee provides Lessor with the funds to cover same, or adequate assurance thereof, within ten (10) days following receipt of written notice of such shortage and request therefor. If Lessor receives said funds or adequate assurance thereof within said ten (10) day period, the party responsible for making the repairs shall complete them as soon as reasonably possible possible, and this Lease (c) subject to any contrary provision of any Subordination Agreement, all of the proceeds of the Property Insurance covering the Insured Premises (and any additional sum that Landlord may elect to contribute to the restoration pursuant to Section 27.2.2.2) shall remain in full force and effectbe disbursed for use by Tenant for such restoration of the Insured Premises. If Lessor does any lender, after having consented to the use of insurance proceeds for restoration, should cut off the availability of such proceeds and such proceeds are not receive such funds or within said period assurancereplaced by Landlord, Lessor may nevertheless elect by written notice then in addition to Lessee within ten (10) days thereafter its other rights and remedies, Tenant shall have the right to make cease restoration of the Insured Premises. At any time when Tenant is to undertake the restoration of the Insured Premises in accordance with this Lease, such restoration planning and repair as is commercially reasonable work shall be performed by the Tenant in accordance with Lessor paying the provisions of Section 12 above and the provisions of the Work Letter relating to work which was to be performed by Tenant under such Work Letter. If Landlord carries the Property Insurance pursuant to Section 27.7 , then, subject to any shortage in proceedscontrary provisions of any Subordination Agreement executed by Landlord and Tenant, in which case this Lease the event of a Landlord Insured Loss, the proceeds of the Property Insurance for the Insured Premises shall remain be disbursed by the insurer for use as the restoration work progresses in full force accordance with procedures (comparable to construction loan disbursement procedures) reasonably acceptable to Tenant, Landlord and effectany Landlord's lender named as an additional insured or loss payee with respect to such Property Insurance covering the Insured Premises. Any proceeds of insurance attributable to any Tenant's Property, other than the Required Surrender Improvements, shall be disbursed as the insurer and Tenant shall agree. If Landlord has elected to provide any Insurance Proceeds Reduction Amount pursuant to Section 27.2.2.2, then, as the restoration work progresses, such Insurance Proceeds Reduction Amount shall be disbursed in such case Lessor does not so electaccordance with procedures (comparable to construction loan disbursement procedures) reasonably acceptable to Landlord, then this Lease Tenant and Landlord's lender. If Landlord fails to provide the Proceeds Reduction Amount, in addition to its other rights and remedies, Tenant shall terminate sixty (60) days following have the occurrence right to halt restoration of the damage or destruction. Unless otherwise agreed, Lessee shall in no event have any right to reimbursement from Lessor forInsured Premises.

Insured Loss. If Subject to the provisions of paragraphs 9.4 and 9.5, if at any time during the term of this Lease there is damage which is an Insured Loss occursand which falls into the classification of either Premises Partial Damage or Premises Building Partial Damage, then Lessor shall, at Lessor's expense, repair such damage (to the Premises, but not Lessee's Trade Fixtures fixtures, equipment or Lessee Owned Alterations and Utility Installations) tenant improvements, as soon as reasonably possible and this Lease shall continue in full force and effect; provided. Uninsured Loss: Subject to the provisions of paragraphs 9.4 and 9.5, howeverif at any time during the term of this Lease there is damage which is not an Insured Loss and which falls within the classification of Premises Partial Damage or Premises Building Partial Damage, that unless caused by a negligent or willful act of Lessee shall(in which event Lessee shall make the repairs at Lessee's expense), which damage prevents Lessee from using the Premises, Lessor may at Lessor's election, make the option either (i) repair of any such damage or destruction andas soon as reasonably possible at Lessor's expense, in such eventwhich event this Lease shall continue in full force and effect, Lessor shall make the insurance proceeds available or (ii) give written notice to Lessee on a reasonable basis for that purposewithin 30 days after the date of the occurrence of such damage of Lessor's intention to cancel and terminate this Lease as of the date of the occurrence of such damage. In the event Lessor elects to require that Lessee restore the Premisesgive such notice of Lessor's intention to cancel and terminate this Lease, Lessee shall have twelve (12) months to restore the Premises (during which rent shall be abated) to complete restoration of the Premises (the "Lessee Restoration Period"). Rent shall recommence at the end of the Lessee Restoration Period. The Lessee Restoration Period shall be extended to the extent any delay in restoration is caused by a force majeure even including, but not limited to, strike, labor troubles, acts of God, acts of government, unavailability of materials or labor, or any other cause beyond the control of Lessee. Notwithstanding the foregoing, if the required insurance was not in force or the insurance proceeds are not sufficient to effect such repair, the Insuring Party shall promptly contribute the shortage in proceeds (except as to the deductible which is Lessee's responsibility) as and when required to complete said repairs. In the event, however, the shortage in proceeds was due to the fact that, by reason of the unique nature of the improvements, full replacement cost insurance coverage was not commercially reasonable and available, Lessor shall have no obligation to pay for the shortage in insurance proceeds or to fully restore the unique aspects of the Premises unless Lessee provides Lessor with the funds to cover same, or adequate assurance thereof, right within ten (10) days following after the receipt of such notice to give written notice to Lessor of Lessee's intention to repair such shortage and request therefor. If Lessor receives said funds or adequate assurance thereof within said ten (10) day perioddamage at Lessee's expense, the party responsible for making the repairs shall complete them as soon as reasonably possible and without reimbursement from Lessor, in which event this Lease shall remain continue in full force and effect. If Lessor does not receive such funds or within said period assurance, Lessor may nevertheless elect by written notice to and Lessee within ten (10) days thereafter shall proceed to make such restoration and repair repairs as is commercially reasonable with Lessor paying any shortage in proceeds, in which case soon as reasonably possible. If Lessee does not give such notice within such 10-day period this Lease shall remain in full force be canceled and effect. If in such case Lessor does not so elect, then this Lease shall terminate sixty (60) days following terminated as of the date of the occurrence of the damage or destruction. Unless otherwise agreed, Lessee shall in no event have any right to reimbursement from Lessor forsuch damage.

Insured Loss. If Premises Partial Damage that is an Insured Loss occurs, then Lessor shall, at Lessor's expense, repair such damage (but not Lessee's Trade Fixtures or Lessee Lessee-Owned Alterations and Utility Installations) as soon as reasonably possible and this Lease shall continue in full force and effect; provided, however, that Lessee shall, at Lessor's election, make the repair of any damage or destruction and, in such event, Lessor shall make the insurance proceeds available to Lessee on a reasonable basis for that purpose. In the event Lessor elects to require that Lessee restore the Premises, Lessee shall have twelve (12) months to restore the Premises (during which rent shall be abated) to complete restoration of the Premises (the "Lessee Restoration Period"). Rent shall recommence at the end of the Lessee Restoration Period. The Lessee Restoration Period shall be extended to the extent any delay in restoration is caused by a force majeure even including, but not limited to, strike, labor troubles, acts of God, acts of government, unavailability of materials or labor, or any other cause beyond the control of Lessee. Notwithstanding the foregoing, if the required insurance was not in force or the insurance proceeds are not sufficient to effect such repair, the Insuring Party shall promptly contribute the shortage in proceeds (except as to the deductible which is Lessee's responsibility) as and when required to complete said repairs. In the event, however, the that there is a shortage in of insurance proceeds was and such shortage is due to the fact that, by reason of the unique nature of the improvementsimprovements in the Premises, full replacement cost insurance coverage was not commercially reasonable reasonably and available, Lessor shall have no obligation to pay for the shortage in of insurance proceeds or to fully restore the unique aspects of the Premises unless Lessee provides Lessor with the funds to cover same, or adequate assurance thereof, within ten (10) days following receipt of written notice of such shortage and request therefor. If Lessor receives said funds or adequate assurance thereof satisfactory to Lessor in its sole discretion within said ten (10) day period, the party responsible for making the repairs Lessor shall complete them such restoration and repairs as soon as reasonably possible and this Lease shall remain in full force and effect. If Lessor does not receive such funds or assurance within said period assuranceperiod, Lessor may nevertheless elect by written notice to Lessee within ten (10) days thereafter to make such restoration and repair as is commercially reasonable with Lessor paying any shortage in proceeds, in which case this Lease shall remain in full force and effect. If in Lessor does not receive such case funds or assurance within such ten (10) day period, and if Lessor does not so electelect to restore and repair, then this Lease shall terminate sixty (60) days following the occurrence of the damage or destruction. Unless otherwise agreed, Lessee shall in no event have any right to reimbursement from Lessor forfor any funds contributed by Lessee to repair any such damage or destruction. Premises Partial Damage due to flood or earthquake shall be subject to PARAGRAPH 11.2(b) rather than PARAGRAPH 11.2(a), notwithstanding that there may be some insurance coverage, but the net proceeds of any such insurance shall be made available for the repairs if made by either party.