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.
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.
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.
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 reaxxx xf 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.
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.
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.
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.
OTHER CASUALTY. In the case of any Casualty that is not a Major Casualty, then Xxxxxx 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. Schedule “Put/Call Conditions” -92-
OTHER CASUALTY. In the event that the Building should be totally destroyed by fire, tornado or other casualty, or should be so damaged that rebuilding or repairs cannot be completed within one hundred twenty (120) days after the date of such damage. Landlord or Tenant may at their option terminate this lease in which event the rent shall be abated during the unexpired portion of this lease effective with the date of such damage, or Landlord may proceed to rebuild and repair the Building and the demised premises. In the event the Building should be damaged by fire, tornado, or other casualty, but only to such extent that rebuilding or repairs can be completed within one hundred twenty (120) days after the date of such damage, or if the damage should be more serious but Landlord does not elect to terminate this lease, in either such event Landlord shall within thirty (30) days after the date of such damage commence to rebuild or repair the uilding and shall proceed with reasonable diligence to restore the Building to substantially the same condition in which it was immediately prior to the happenings of the casualty, except that Landlord shall not be required to rebuild, repair or replace any part of the partitions, fixtures, and other improvements which may have been placed by Tenant or other tenants within the Building. Landlord shall allow Tenant a fair diminution of rent during the time the demised premises are unfit for occupancy. In the event any mortgage under a deed of trust, security agreement or mortgage on the Building should require that the insurance proceeds be used to retire the mortgage debt, Landlord shall have no obligation to rebuild and this lease shall terminate upon notice to Tenant. Any insurance which may be carried by Landlord or Tenant against loss or damage to the Building or to the demised premises shall be for the sole benefit of the party carrying such insurance and under its sole control. 13.
