Partial Damage - Uninsured Loss Sample Clauses
The 'Partial Damage - Uninsured Loss' clause defines how losses from partial damage to property are handled when such losses are not covered by insurance. Typically, this clause outlines the responsibilities of the parties for repairing or compensating for damage that falls below the insurance deductible or is otherwise excluded from coverage. For example, if a leased building suffers minor fire damage that is not covered by the landlord's insurance policy, this clause would specify whether the tenant or landlord must pay for repairs. Its core function is to allocate financial responsibility for uninsured partial losses, thereby preventing disputes and ensuring both parties understand their obligations in the event of such damage.
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Partial Damage - Uninsured Loss. If Premises Partial Damage that Is not an Insured Loss occurs, unless caused by a negligent or willful act of Lessee (in which event Lessee shall make the repairs at Lessee's expense and this Lease shall continue In full force and effect), Lessor may at Lessor's option, either (i) repair such damage as soon as reasonably possible at Lessor's expense, In which event this Lease shall continue In lull force and effect, or
Partial Damage - Uninsured Loss. If a Premises Partial Damage that is not an Insured Loss occurs, unless caused by a negligent or willful act of Lessee (in which event Lessee shall make the repairs at Lessee's expense), Lessor may either: (i) repair such damage as soon as reasonably possible at Lessor's expense, in which event this Lease shall continue in full force and effect, or (ii) terminate this Lease by giving written notice to Lessee within thirty (30) days after receipt by Lessor of knowledge of the occurrence of such damage. Such termination shall be effective sixty (60) days following the date of such notice. In the event Lessor elects to terminate this Lease, Lessee shall have the right within ten (10) days after receipt of the termination notice to give written notice to Lessor of Lessee's commitment to pay for the repair of such damage without reimbursement from Lessor. Lessee shall provide Lessor with said funds or satisfactory assurance thereof within thirty (30) days after making such commitment. In such event this Lease shall continue in full force and effect, and Lessor shall proceed to make such repairs as soon as reasonably possible after the required funds are available. If Lessee does not make the required commitment, this Lease shall terminate as of the date specified in the termination notice.
Partial Damage - Uninsured Loss. Subject to the provisions of Section 11.4 and 11.5 and 11.6, if at any time during the Lease Term there is damage which is not an Insured Loss and which falls within the classification of Premises Partial Damage, unless caused by a negligent or willful act of Tenant (in which event Tenant shall make the repairs at Tenant's expense to the extent such repairs are not covered by insurance to be provided under this Lease), Landlord may at Landlord's option either (i) repair such damage as soon as reasonably possible at Landlord's expense, in which event this Lease shall continue in full force and effect, or (ii) give written notice to Tenant within thirty (30) days after the date of the occurrence of such damage of Landlord's intention to cancel and terminate this Lease. Tenant shall have the right within ten (10) days after the receipt of such notice to give written notice to Landlord of Tenant's intention to repair such damage at Tenant's expense, without reimbursement from Landlord, in which event this Lease shall continue in full force and effect, and Tenant shall proceed to make such repairs as soon as reasonably possible. If Tenant does not give such notice with such 10 day period this Lease shall be canceled and terminated as of the date of the occurrence of such damage.
Partial Damage - Uninsured Loss. If Premises Partial Damage that is not an Insured Loss occurs, unless caused by a negligent or willful act of Lessee (in which event Lessee shall make the repairs at Lessee's expense and this Lease shall continue in full force and effect), Lessor may at Lessor's option, either (i) repair such damage as soon as reasonably possible at Lessor's expense, in which event this Lease shall continue in full force and effect, or (ii) give written notice to Lessee within thirty (30) days after receipt by Lessor of knowledge of the occurrence of such damage of Lessor's desire to terminate this Lease as of the date sixty (60) days following the date of such notice. In the event Lessor elects to give such notice of Lessor's intention to terminate this Lease. Lessee shall have the right within ten (10) days after the receipt of such notice to give written notice to Lessor of Lessee's commitment to pay for the repair of such damage totally at Lessee's expense and without reimbursement from Lessor. Lessee shall provide Lessor with the required funds or satisfactory assurance thereof within thirty (30) days following such commitment from Lessee. In such event this Lease shall continue in full force and effect, and Lessor shall proceed to make such repairs as soon as reasonably possible after the required funds are available. If Lessee does not give such notice and provide the funds or assurance thereof within the times specified above, this Lease shall terminate as of the date specified in Lessor's notice of termination.
Partial Damage - Uninsured Loss. If Premises Partial Damage occurs, such damage or destruction is not an Insured Loss and the cost to repair exceeds Lessor’s Agreed Amount, then unless such damage or destruction was caused by a negligent or willful act of Lessee (in which the event Lessee shall make the repairs at Lessee’s expense and this Lease shall continue in full force and effect), Lessor may at Lessor’s option, either (i) repair such damage as soon as reasonably possible at Lessor’s expense, in which event this Lease shall continue in full force and effect, or (ii) give written notice to Lessee within sixty (60) days after receipt by Lessor of knowledge of the occurrence of such damage of Lessor’s desire to terminate this Lease as of the date sixty (60) days following the date of such notice. In the event Lessor elects to give such notice of Lessor’s intention to terminate this Lease, Lessee shall have the right within ten (10) days after the receipt of such notice to give written notice to Lessor of Lessee’s commitment to pay for the cost to repair such damage in excess of Lessor’s Agreed Amount totally at Lessee’s expense and without reimbursement from Lessor (except that Lessor shall pay Lessor’s Agreed Amount). Lessee shall provide Lessor with the required funds or satisfactory assurance thereof within thirty (30) days following such commitment from Lessee. In such event this Lease shall continue in full force and effect, and Lessor shall proceed to make such repairs as soon as reasonably possible after the required funds are available. If Lessee does not give such notice and provide the funds or assurance thereof within in the times specified above, this Lease shall terminate as of the date specified in Lessor’s notice of termination. Notwithstanding the foregoing, if the cost to repair any damage to the Premises does not exceed Lessor’s Agreed Amount, then unless such damage or destruction was caused by a negligent or willful act of Lessee (in which the event Lessee shall make the repairs at Lessee’s expense and this Lease shall continue in full force and effect), Lessor shall repair such damage as soon as reasonably possible at Lessor’s expense.
Partial Damage - Uninsured Loss. If Premises Partial Damage occurs that is not an Insured Loss, Lessee shall make the repairs at Lessee's expense and this Lease shall continue in full force and effect. Lessee shall provide Lessor with detailed plans and payment assurances before the Partial Damage is repaired.
Partial Damage - Uninsured Loss. If a Premises Partial Damage that is not an Insured Loss occurs, unless caused by a negligent or willful act of Lessee ( in which event Lessee shall make the repairs at Lessee's expense). Lessee may either: (i) repair such damage as soon as reasonably possible at Lessor's expense, in which event this Lease shall continue in full force and effect, or (ii) terminate this Lease by giving written notice to Lessee within thirty (30) days after receipt by Lessor of knowledge of the occurrence of such damage. Such termination shall be effective sixty (60) days following the date of such notice to Lessor of Lessee's commitment to pay for the repair of such damage without reimbursement from Lessor. Lessee shall provide Lessor with said funds or satisfactory assurance thereof within thirty (30) days after making such commitment. In such event this Lease shall continue in full force and effect, and Lessor shall proceed to make such repairs as soon as reasonably possible after the required funds are available. If Lessee does not make the required commitment, this Lease shall terminate as of the date specified in the termination notice.
Partial Damage - Uninsured Loss. If a Premises Partial Damage that is not an Insured Loss occurs, unless caused by a negligent or willful act of Lessee (in which event Lessee shall make the repairs at Lessee's expense), Lessor may either: (i) repair such damage as soon as reasonably possible at Lessor's expense, in which event this Lease shall continue in full force and effect, or (ii) terminate this Lease by giving written notice to Lessee within thirty (30) days after receipt by Lessor of knowledge of the occurrence of such damage. Such termination shall be effective sixty (60) days following the date of such notice. In the event Lessor elects to terminate this Lease, Lessee shall have the right within ten
Partial Damage - Uninsured Loss. If a Premises Partial Damage that is not an Insured Loss occurs, unless caused by the negligent or willful act of Tenant (in which case Tenant shall make the repairs at Tenant’s expense and this Lease shall continue in force, but subject to Landlord’s rights under Article XV pertaining to Remedies), Landlord may at Landlord’s option either: (i) repair such damage as soon as reasonable possible at Landlord’s expense, in which case this Lease shall remain in full force and effect; or (ii) give written notice to Tenant within thirty (30) days after receipt of knowledge of the occurrence of such damage of Landlord’s desire to terminate this Lease as of the date sixty (60) days following the giving of such notice.
Partial Damage - Uninsured Loss. If a Premises Partial Damage that is not an Insured Loss occurs, unless caused by Lessee’s gross negligence or willful act (in which event Lessee shall make the repairs at Lessee’s expense), or if a Premises Partial Damage that is due to flood or earthquake occurs, Lessor shall repair such damage as soon as reasonably possible at Lessor’s expense. Upon Lessee’s written request, Lessor shall provide evidence reasonably acceptable to Lessee that Lessor has the funds necessary to pay for the costs of such repairs, and upon Lessee’s written request, Lessor shall deposit such funds into an escrow account under the terms and conditions reasonably acceptable to Lessee. If Lessor fails to provide such evidence or make such deposit, in each case within five (5) days after the applicable request, then Lessee may, by written notice to Lessor terminate this Lease, effective thirty (30) days after such termination notice.