OTHER CASUALTY Sample Clauses

The "Other Casualty" clause defines how losses or damages to the property, other than those caused by fire or standard insured risks, are handled under the agreement. It typically outlines the responsibilities of the parties in the event of damage from causes such as vandalism, flooding, or natural disasters, specifying who must repair the damage and whether the lease or contract terms are affected. This clause ensures that both parties understand their obligations and liabilities for less common or unexpected types of property damage, thereby reducing disputes and clarifying risk allocation.
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OTHER CASUALTY. Tenant shall promptly notify Landlord of -------------------------------- any damage or destruction of any portion of the Premises and diligently repair or reconstruct such portion of the Premises to a like or better condition than existed prior to such damage or destruction in accordance with Section 8.4. ----------- Any net insurance proceeds payable with respect to the casualty shall be paid directly to Landlord and, if an Event of Default has not occurred hereunder, used for the repair or reconstruction of the applicable portion of the Premises pursuant to Landlord's disbursement requirements. If such proceeds are insufficient, Tenant shall provide the required additional funds; if they are more than sufficient, the surplus shall belong and be paid to Tenant. Except as otherwise specifically set forth in this Section 17, Tenant shall not have any right under this Master Lease, and hereby waives all rights under applicable law, to abate, reduce or offset rent by rea▇▇▇ ▇f any damage or destruction of any portion of the Premises by reason of an insured or uninsured casualty. In the event any such damage or destruction occurs during the last six (6) months of the Initial Term or applicable Renewal Term, to the extent of fifty percent (50%) or more of the replacement value of the affected Facility, Tenant may, at Tenant's option to be evidenced by notice in writing given to Landlord within thirty (30) days after the occurrence of such damage or destruction, elect to pay to Landlord any available insurance proceeds, including, without limitation, business interruption insurance proceeds described in Section 5.7, in which event this Master Lease shall terminate as to the affected Facility; provided, -------- however, that if the available insurance proceeds are insufficient to cover the ------ cost of the repair or reconstruction of the applicable Facility, Tenant shall remain obligated to pay the additional cost to repair or reconstruct the Facility. In the event this Master Lease is terminated as to any Facility under this Section 17, then the Minimum Rent and Additional Rent due hereunder shall be shall be reduced by the product of (A) the amount of the then current Minimum Rent and Additional Rent, and (B) a fraction, the numerator of which is the amount of Landlord's Investment allocable to the affected Facility and the denominator of which is Landlord's Investment.
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OTHER CASUALTY. In case the Expansion Space or any part thereof are damaged or destroyed by fire, or other casualty, this Schedule shall remain in full force and effect, and the Tenant may, in its sole discretion, choose to (1) leave the building in its then-“as is” condition (unless ordered to be demolished by the action of any public authority in consequence of a fire or other casualty), (2) restore the building, (3) restore the building only as needed for safety, or (4) demolish the building and replace it with a paved parking surface pursuant to Article 7.2.
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OTHER CASUALTY. In the event of the total destruction of, or partial damage to, the buildings upon the demised premises by fire or other casualty, Landlord shall proceed with due diligence and dispatch to repair and restore the buildings to the condition to which they existed immediately prior to the occurrence of such casualty, at Landlord’s cost and expense. If the Leased Premises or any part thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects that the same cannot be used for Tenant's purposes, then Tenant shall have the right within ninety (90) days following damage to elect by notice to Landlord to terminate this Lease as of the date of such damage. In the event of minor damage to any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Tenant's purposes, Landlord shall promptly repair such damage at the cost of the Landlord.
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OTHER CASUALTY. In case the 180 Expansion Space or any part thereof are damaged or destroyed by fire, or other casualty, this Schedule shall remain in full force and effect, and the Tenant may, in its sole discretion, choose to (1) leave the lot in its then-“as is” condition (unless ordered to be demolished by the action of any public authority in consequence of a fire or other casualty), (2) restore the lot, or (3) restore the lot only as needed for safety.
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OTHER CASUALTY. If any Car is destroyed or damaged, and such destruction or damage was not caused by the negligence or willful misconduct of Buyer or its customers, then Buyer shall promptly notify Seller in writing and such Car will be removed from the Schedule effective the date such Car was destroyed or damaged. Under such circumstances, Seller shall be entitled to all casualty proceeds from the Car.
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OTHER CASUALTY. In all cases of destruction or casualty to the Premises which do not result in termination of this Lease pursuant to the foregoing paragraphs, Landlord shall restore the Premises at its expense. The obligation of the Landlord hereunder shall be limited to reconstruction of the building and completion of Landlord’s Work. Tenant shall, upon completion of restoration or rebuilding by Landlord, perform Tenant’s Work and shall replace or restore forthwith any trade fixtures, equipment or other installation theretofore installed by Tenant. Tenant agrees during any period of reconstruction or repair of the Premises and/or said building to continue the operation of its business in the Premises to the extent reasonably practicable. Minimum Rent shall be abated or reduced proportionately during any period in which, by reason of any such damage or destruction, there is a substantial interference with the operation of Tenant’s business.
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OTHER CASUALTY. In the case of any Casualty that is not a Major Casualty, then ▇▇▇▇▇▇ Member shall have the right at the Put/Call Closing to receive a credit for the amount of any unpaid deductible or any other uninsured amount (such other uninsured amount not to exceed Five Million Dollars ($5,000,000.00)) plus all insurance proceeds received by Beacon Member as a result of such Casualty, or an assignment of Beacon Member’s rights to such insurance proceeds, and the Put/Call Closing shall occur without reduction in the Purchase Price, and Beacon Member shall have no further liability or obligation to repair such damage or to replace the Property.
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OTHER CASUALTY. If there is damage to or destruction of a part of the Property by fire or other casualty that is not "material", such damage or destruction shall be repaired promptly by the Seller, and in the event the same is not repaired on or before the Closing Date, then at the Buyer's option (a) the Closing shall be postponed until such repairs have been completed, or (b) the cost of such repairs, as reasonably estimated by Seller and Buyer, shall be credited against the Purchase Price.
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Related to OTHER CASUALTY

  • Fire or Other Casualty 13.1 Tenant immediately shall deliver written notice to Landlord of any damage caused to the Building by fire or other casualty. 13.2 If the Building shall be damaged or destroyed by fire or other casualty and Landlord does not elect to terminate this Lease as hereinafter provided, Landlord shall proceed with reasonable diligence and at its sole cost and expense to rebuild and repair the Building, and this Lease shall continue in full force and effect. If the Building shall be destroyed or materially damaged, then Landlord may elect either to terminate this Lease as hereinafter provided or to proceed to rebuild and repair the Building. If Landlord elects to terminate this Lease it shall give written notice of such election to Tenant within ninety (90) days after the occurrence of such casualty, and this Lease shall terminate as of the date of such notice. If Landlord should not elect to terminate this Lease, Landlord shall proceed with reasonable diligence and at its sole cost and expense to rebuild and repair the Premises; provided, however, that if any Holder (defined below) of an Encumbrance (defined below) requires that the insurance proceeds be applied under such Encumbrance as a result of any such casualty, Landlord shall have no obligation to rebuild and this Lease shall terminate upon notice to Tenant. So long as the casualty does not result from any willful or negligent action or inaction of Tenant or Tenant’s agents, employees, customers, contractors, or invitees, Landlord shall allow Tenant a reduction of Base Rent during the time the Building is unfit for occupancy, which reduction shall be based upon the proportion of square feet of the Building unfit for occupancy to the total square feet in the Building. Any insurance which may be carried by Landlord or Tenant against loss or damage to the Building shall be for the sole benefit of the party carrying such insurance and under its sole control. 13.3 Landlord’s obligation to repair shall be limited to the restoration of the Building, and further shall be limited to the extent of insurance proceeds available to Landlord for such restoration. In no event shall Landlord be obligated to rebuild, or otherwise be liable for, any damage to Tenant’s fixtures, signs, furnishings, equipment or personal property within the Building. 13.4 Tenant agrees that during any period of reconstruction or repair of the Building, Tenant will continue the operation of its business within the Building to the extent practicable.

  • Damage by Fire or Other Casualty Tenant shall promptly notify Landlord of any damage or destruction of any portion of the Premises (a “Casualty”) and diligently repair or reconstruct such portion of the Premises to a like or better condition than existed prior to such damage or destruction. Any net insurance proceeds payable with respect to the Casualty shall be paid directly to Landlord and, if an Event of Default has not occurred hereunder, may be used for the repair or reconstruction of the applicable portion of the Premises pursuant to Landlord’s disbursement requirements and subject to the provisions of the Facility Mortgage Documents and the release of insurance proceeds by the Facility Mortgagee, if any. If such proceeds are insufficient, Tenant shall provide the required additional funds; if they are more than sufficient, the surplus shall belong and be paid to Tenant. Except as expressly provided in the last sentence of this Section 18, Tenant shall not have any right under this Lease, and hereby waives all rights under applicable law, to ▇▇▇▇▇, reduce or offset Rent by reason of any damage or destruction of any portion of the Premises by reason of an insured or uninsured Casualty. If the Facility Mortgagee does not agree to release all of the insurance proceeds to reimburse Tenant and Landlord does not agree to reimburse Tenant up to the amount of such insurance proceeds in the event of a Casualty that renders the Facility unsuitable for its Permitted Use, Tenant shall have the right to terminate this Lease and remove the Facility from the Portfolio. Upon the removal of the Facility from the Portfolio, this Lease shall be of no further force or affect, except for any obligations or liability of any party hereunder that accrued on or prior to the date of the Casualty. In the event of a Casualty that does not render the Facility unsuitable for its Permitted Use, Tenant shall restore the Facility to substantially the same condition as existed immediately before the partial Casualty in accordance with the provisions of this Section 18, and the Rent shall be reduced on a pro rata basis based upon the number of beds removed from service and otherwise taking into consideration all relevant factors affecting the Facility resulting from such partial Casualty.

  • Condemnation or Casualty Seller agrees to give Purchaser prompt written notice of any fire or other casualty occurring to all or any portion of the improvements at the Real Property and/or Personalty between the date hereof and the date of closing. If prior to the closing, there shall occur: (i) damage to the improvements at the Property caused by fire or other casualty which would cost 5% of the Purchase Price of the Property or more to repair based on the estimate of a reputable third party contractor chosen by Seller; or (ii) the taking or condemnation of all or any portion of the Real Property and/or the improvements as aforesaid as would materially interfere with the use thereof; then, if any of such events set forth in (i) or (ii) above occurs, Buyer or Seller, at its option, may terminate its obligations under this Agreement by written notice given to the other within seven (7) days after Buyer has received the notice referred to above or at the closing, whichever is earlier. If Buyer or Seller does not elect to terminate its obligations as aforesaid, the closing shall take place as provided herein without an abatement of the purchase price (except that Buyer shall be allowed a credit for any deductible under Seller's insurance) and there shall be assigned to the Buyer at closing, all interest of the Seller in and to any insurance proceeds or condemnation awards which may be payable to Seller on account of such occurrence. If, prior to the closing, there shall occur: (i) damage to the Property caused by fire or other casualty which would cost less than 5% of the Purchase Price of the Property based on the estimate of a reputable third party contractor chosen by Seller to which Buyer has no reasonable objection; or (ii) the taking or condemnation of all or any portion of the said Real Property and/or improvements as aforesaid which is not material to the use, thereof; then, if any of such events set forth in (i) or (ii) above occurs, Buyer shall have no right to terminate its obligations under this Agreement, but there shall be assigned to Buyer at closing all interest of Seller in and to any insurance proceeds or condemnation awards which may be payable to Seller on account of any such occurrence, and in addition, Buyer shall be allowed a credit for any deductible under Seller's insurance policy. Seller shall be responsible for maintaining fire and extended coverage insurance prior to closing as is currently in place.

  • FIRE OR CASUALTY If the Premises or the Building (including machinery or equipment used in its operation) shall be damaged by fire or other casualty and if such damage does not cause a termination of this Lease as described in the following sentences, then Landlord shall repair and restore the damage with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable control, but Landlord shall not be obligated to expend for repairing or restoring the damage an amount in excess of the proceeds of insurance recovered with respect to the damage. If in Landlord’s estimate the Premises cannot be restored within two hundred seventy (270) days from the date of such fire or casualty, then Landlord shall give notice to Tenant of such estimate within ninety (90) days after such fire or casualty. Tenant may elect in writing sixty (60) days following the date of such notice from Landlord, time being of the essence, to terminate this Lease effective as of the date of Tenant’s notice. If any such damage (i) renders 25% of the Building untenantable or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s reasonable estimate within two hundred seventy (270) days from the date of such damage or (iii) occurs within the last Lease Year, Landlord shall have the right to terminate this Lease as of the date of such damage upon written notice given to the Tenant at any time within one hundred twenty (120) days after the date of such damage. If (iii) above occurs or Landlord fails to restore the Premises within one hundred eighty (180) days after the casualty, Tenant may terminate this Lease within thirty (30) days following the date upon which such termination rights was triggered. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, by virtue of any delays in completion of such repairs and restoration. Annual Fixed Rent and additional rent, however, shall a▇▇▇▇ on those portions of the Premises as are, from time to time, untenantable and, in fact, unoccupied by Tenant as a result of such damage. Notwithstanding anything to the contrary herein set forth, Landlord shall have no duty pursuant to this Section 6.2 to repair or restore any portion of any alterations, additions, installation or improvements in the Premises or the decoration thereto except to the extent that the proceeds of the insurance carried by Tenant are timely received by Landlord. If Tenant desires any other additional repairs or restoration, and if Landlord consents thereto, it shall be done at Tenant’s sole cost and expense subject to all of the applicable provisions of the Lease. Tenant acknowledges that Landlord shall be entitled to the full proceeds of any insurance coverage whether carried by Landlord or Tenant, for damage to any alterations, addition, installation, improvements or decorations performed or installed by Tenant which would become the Landlord’s property upon the termination of the Lease.

  • No Casualty No Loan Party has received any notice of, nor does any Loan Party have any knowledge of, the occurrence or pendency or contemplation of any Casualty Event affecting all or any material portion of its property.