Rebuilding Required Clause Samples

The "Rebuilding Required" clause establishes the obligation to reconstruct or repair a property if it is damaged or destroyed. Typically, this clause outlines the circumstances under which rebuilding must occur, such as after a fire or natural disaster, and may specify timelines, standards for reconstruction, and the responsible party (often the property owner or tenant). Its core practical function is to ensure that the property is restored to its original condition, thereby protecting the interests of both parties and maintaining the value and usability of the asset.
Rebuilding Required. In the event of an Insured Casualty where the extent of damage or destruction is less than twenty percent (20%) of the then full replacement cost of the Premises, Landlord shall rebuild or restore the Premises to the condition existing immediately prior to the damage or destruction, provided the damage or destruction was not a result of a negligent or willful act of Tenant, and that there exist no governmental codes or regulations that would interfere with Landlord's ability to so rebuild or restore.
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Rebuilding Required. 37 15.2.2 Landlord's Election............................. 37 15.2.3 Continuance of Lease............................ 37 15.3
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Rebuilding Required. In the event of an Insured Casualty where the extent of damage or destruction is less than thirty-three and one-third percent (33 and 1/3%) of the then full replacement cost of the Premises, Landlord shall rebuild or restore the Premises to the condition existing immediately prior to the damage or destruction, promptly following receipt of all required governmental permits and approvals, and with all due diligence, provided that there exist no governmental codes or regulations that would prevent Landlord’s ability to so rebuild or restore (and if there exists any governmental codes or regulations that would prevent altogether Landlord’s ability to rebuild or restore, Landlord shall terminate this Lease by written notice to Tenant within sixty (60) days after the event of damage or destruction).
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Rebuilding Required. If, at any time during the Thermal Term of ------------------- this Agreement (and whether or not Rocky Mountain is then a lessee under this Agreement), the Facility is damaged or destroyed by fire, hail, windstorm, or other casualty, regardless of the severity of such loss and whether or not such loss shall have been insured against, Rocky Mountain shall, unless Thermo shall consent to Rocky Mountain not rebuilding, promptly repair, and reconstruct the Facility. If Rocky Mountain is a lessee of the Facility at the time such damage or destruction occurs, the Facility shall Ve repaired and reconstructed to substantially the same condition, or better, as existed immediately prior to such casualty loss. If Rocky Mountain has purchased the Facility, prior to the time such damage or destruction occurs, the Facility shall be repaired and reconstructed in such manner as Rocky Mountain may determine in Rocky Mountain's discretion, reasonably exercised; provided, however, that: (a) such repair and reconstruction is completed within 180 days or less after the date of such damage or destruction; (b) after such repair and reconstruction, Rocky Mountain's annual requirements for thermal energy supplied by the Plant and used for commercial or industrial purposes shall not be less than the Minimum Annual Heat Requirement; and (c) the use of such thermal energy shall qualify the Plant as a Qualifying Facility. All repair and reconstruction of the Facility/Plant interface equipment shall be subject to Thermo's prior approval, which shall not be withheld or delayed unreasonably. Any repair or reconstruction of the Facility for a purpose other than a commercial greenhouse shall require Thermo's prior consent, which may be withheld. For the purpose of repair and reconstruction, Thermo shall waive Thermo's interest in insurance proceeds, if any, relating to such casualty loss, but Rocky Mountain's obligation to repair and reconstruct shall be limited by the amount of insurance proceeds. Thermo may provide for the payment of such insurance proceeds in a manner which assures Thermo of satisfactory, lien-free completion of such repair or reconstruction.
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Related to Rebuilding Required

  • Building Renovations It is specifically understood and agreed that Landlord has made no representation or warranty to Tenant and has no obligation and has made no promises to alter, remodel, improve, renovate, repair or decorate the Premises, Building, or any part thereof and that no representations respecting the condition of the Premises or the Building have been made by Landlord to Tenant except as specifically set forth herein or in the Work Letter Agreement. However, Tenant hereby acknowledges that Landlord is currently renovating or may during the Lease Term renovate, improve, alter, or modify (collectively, the "Renovations") the Project, the Building and/or the Premises including without limitation the parking structure, common areas, systems and equipment, roof, and structural portions of the same, which Renovations may include, without limitation, (i) installing sprinklers in the Building common areas and tenant spaces, (ii) modifying the common areas and tenant spaces to comply with applicable laws and regulations, including regulations relating to the physically disabled, seismic conditions, and building safety and security, and (iii) installing new floor covering, lighting, and wall coverings in the Building common areas, and in connection with any Renovations, Landlord may, among other things, erect scaffolding or other necessary structures in the Building, limit or eliminate access to portions of the Project, including portions of the common areas, or perform work in the Building, which work may create noise, dust or leave debris in the Building. Tenant hereby agrees that such Renovations and Landlord's actions in connection with such Renovations shall in no way constitute a constructive eviction of Tenant nor entitle Tenant to any abatement of Rent. Landlord shall have no responsibility or for any reason be liable to Tenant for any direct or indirect injury to or interference with Tenant's business arising from the Renovations, nor shall Tenant be entitled to any compensation or damages from Landlord for loss of the use of the whole or any part of the Premises or of Tenant's personal property or improvements resulting from the Renovations or Landlord's actions in connection with such Renovations, or for any inconvenience or annoyance occasioned by such Renovations or Landlord's actions.

  • MAINTENANCE, REPAIRS, OR ALTERATIONS The Tenant shall, at their own expense and at all times, maintain premises in a clean and sanitary manner, and shall surrender the same at termination hereof, in as good condition as received, normal wear and tear excepted. The Tenant may not make any alterations to the leased premises without the consent in writing of the Landlord. The Landlord shall be responsible for repairs to the interior and exterior of the building. If the Premises includes a washer, dryer, freezer, dehumidifier unit and/or air conditioning unit, the Landlord makes no warranty as to the repair or replacement of units if one or all shall fail to operate. The Landlord will place fresh batteries in all battery-operated smoke detectors when the Tenant moves into the premises. After the initial placement of the fresh batteries it is the responsibility of the Tenant to replace batteries when needed. A monthly "cursory" inspection may be required for all fire extinguishers to make sure they are fully charged.

  • Restoration of Premises Lessee shall conduct all operations on the Leased Premises in such a manner as not to unreasonably damage the portion of the Leased Premises where there will be no mining operations. Lessee shall conduct all operations in such a manner as to observe and comply with all Laws applicable to the Leased Premises and all Laws applicable to the conduct of Lessee’s operations. Lessee expressly agrees to dispose of all tailings and other mining wastes in accordance with all applicable Laws and shall reclaim all of disturbed perimeter portions of any lakes created by mining such that those perimeter portions shall be left at a slope no steeper than four feet horizontal to one foot vertical within three (3) months of termination of the Lease Agreement. By the expiration or earlier termination of the term of this Lease Agreement, Lessee shall grade that portion of the Leased Premises which has been excavated by Lessee or on which Lessee has conducted operations so as to eliminate all unreasonable irregularities therein and so that such portion of the Leased Premises which has been excavated by Lessee conforms to the drawing set forth on Exhibit C attached hereto. Upon completion of the required grading, Lessee shall cover such area with sand, clay, or topsoil, or a mixture of any of the foregoing, from the resources then existing on the Leased Premises, and shall thereafter reseed the surface with a seed mixture approved by Lessor. Notwithstanding the foregoing, in no event shall Lessee be required to import any Materials, including but not limited to, sand, clay, or topsoil from off-site for purposes of complying with its restoration obligations in this Section 15. Should this obligation not be met by the end of the term of this Lease Agreement, it shall nevertheless survive and continue beyond the term of this Lease Agreement and shall be an obligation owed by Lessee to Lessor. This obligation is owed by Lessee in addition to any other obligation imposed upon Lessee by this Lease Agreement.

  • Required Repairs (a) Borrower shall make the repairs and improvements to the Property set forth on Schedule 9.1 and as more particularly described in the Property Condition Report prepared in connection with the closing of the Loan (such repairs hereinafter referred to as "Required Repairs"). Borrower shall complete the Required Repairs in a good and workmanlike manner on or before the date that is twelve (12) months from the Closing Date or within such other time frame for completion specifically set forth on Schedule 9.1. (b) Borrower shall establish on the date hereof an Eligible Account with Lender or Lender's agent to fund the Required Repairs (the "Required Repair Account") into which Borrower shall deposit on the date hereof the amount of $596,250.00, which amount equals one hundred twenty-five percent (125%) of the estimated cost for the completion of the Required Repairs. Amounts so deposited shall hereinafter be referred to as the "Required Repair Funds". (c) Upon the earliest to occur of (i) the timely completion of all Required Repairs and any Additional Required Repairs, if any, in accordance with the requirements of this Agreement, as verified by Lender in its reasonable discretion, (ii) the payment in full of the Debt or (iii) the earlier release of the Lien of the Mortgage (and all related obligations) in accordance with the terms of this Agreement and the other Loan Documents, provided no Event of Default is then continuing, all amounts remaining on deposit, if any, in the Required Repair Account shall be returned to Borrower.

  • Insurance Required The Engineer shall secure the insurance specified below. The insurance shall be issued by insurance company(s) acceptable to the City and may be in a policy or policies of insurance, primary or excess. Certificates of all required insurance including any policy endorsements shall be provided to the City prior to or upon the execution of this Agreement.