Common use of RECONSTRUCTION NOT COVERED BY INSURANCE Clause in Contracts

RECONSTRUCTION NOT COVERED BY INSURANCE. If during the Term, the --------------------------------------- Facility is totally or materially destroyed from a risk not covered by the insurance described in Article 13, whether or not such damage or destruction ---------- renders the Facility Unsuitable For Its Primary Intended Use, Tenant shall either (A) restore the Facility, at Tenant's cost, to substantially the same condition as existed immediately before the damage or destruction, or (B) elect to terminate this Lease upon 60 days prior written notice to Landlord; provided, however, if Landlord notifies Tenant in writing within fifteen (15) days of Landlord's receipt of Tenant's notice of termination that Landlord intends to restore the Facility, at Landlord's cost, to substantially the same condition as existed immediately before the damage and destruction and Landlord diligently commences and prosecutes such restoration and completes such restoration within ninety (90) days after the date of Tenant's notice of termination, then Tenant's election to terminate the Lease shall be deemed rescinded and the Lease shall remain in full force and effect. In the event Landlord elects to restore the Facility as provided in the immediately preceding sentence, during the period from the date of Tenant's notice of termination through the date the restoration of the Facility is completed, the Base Rent shall be deemed to be zero and Tenant's payment of Rent shall consist only of the payment of Additional Rent in accordance with Section 9 of the Basic Lease Provisions and the Additional --------- Charges as required by the Detailed Lease Provisions.

Appears in 1 contract

Samples: Lease (National Golf Properties Inc)

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RECONSTRUCTION NOT COVERED BY INSURANCE. If during the Term, the --------------------------------------- Facility is totally or materially destroyed from a risk not covered by the insurance described in Article 13, whether or not such damage or destruction ---------- renders the Facility Unsuitable For Its Primary Intended Use, Tenant shall either (A) restore the Facility, at Tenant's cost, to substantially the same condition as existed immediately before the damage or destruction, or (B) elect to terminate this Lease upon 60 days prior written notice to Landlord; provided, however, if Landlord notifies Tenant in writing within fifteen (15) 15 days of Landlord's receipt of Tenant's notice of termination that Landlord intends to restore the Facility, at Landlord's cost, to substantially the same condition as existed immediately before the damage and destruction and Landlord diligently commences and prosecutes such restoration and completes such restoration within ninety (90) 90 days after the date of Tenant's notice of termination, then Tenant's election to terminate the Lease shall be deemed rescinded and the Lease shall remain in full force and effect. In the event Landlord elects to restore the Facility as provided in the immediately preceding sentence, during the period from the date of Tenant's notice of termination through the date the restoration of the Facility is completed, the Base Rent shall be deemed to be zero and Tenant's payment of Rent shall consist only of the payment of Additional Rent in accordance with Section 9 8 of the Basic Lease Provisions and the Additional --------- Charges as required by the Detailed Lease Provisions.

Appears in 1 contract

Samples: National Golf Properties Inc

RECONSTRUCTION NOT COVERED BY INSURANCE. If during the Term, --------------------------------------- the --------------------------------------- Facility is totally or materially destroyed from a risk not covered by the insurance described in Article 13, whether or not such damage or destruction ---------- renders the Facility Unsuitable For Its Primary Intended Use, Tenant shall either (A) restore the Facility, at Tenant's cost, to substantially the same condition as existed immediately before the damage or destruction, or (B) elect to terminate this Lease upon 60 days prior written notice to Landlord; provided, however, if Landlord notifies Tenant in writing within fifteen (15) 15 days of Landlord's receipt of Tenant's notice of termination that Landlord intends to restore the Facility, at Landlord's cost, to substantially the same condition as existed immediately before the damage and destruction and Landlord diligently commences and prosecutes such restoration and completes such restoration within ninety (90) 90 days after the date of Tenant's notice of termination, then Tenant's election to terminate the Lease shall be deemed rescinded and the Lease shall remain in full force and effect. In the event Landlord elects to restore the Facility as provided in the immediately preceding sentence, during the period from the date of Tenant's notice of termination through the date the restoration of the Facility is completed, the Base Rent shall be deemed to be zero and Tenant's payment of Rent shall consist only of the payment of Additional Rent in accordance with Section 9 of the Basic Lease Provisions and the Additional --------- Charges as required by the Detailed Lease Provisions.

Appears in 1 contract

Samples: Executive Original (National Golf Properties Inc)

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RECONSTRUCTION NOT COVERED BY INSURANCE. If during the Term, the --------------------------------------- -------------- --- ------- -- --------- Facility is totally or materially destroyed from a risk not covered by the insurance described in Article 13, whether or not such damage or destruction ---------- renders the Facility Unsuitable For Its Primary Intended Use, Tenant shall either (A) restore the Facility, at Tenant's cost, to substantially the same condition as existed immediately before the damage or destruction, or (B) elect to terminate this Lease upon 60 days prior written notice to Landlord; provided, however, if Landlord notifies Tenant in writing within fifteen (15) days of Landlord's receipt of Tenant's notice of termination that Landlord intends to restore the Facility, at Landlord's cost, to substantially the same condition as existed immediately before the damage and destruction and Landlord diligently commences and prosecutes such restoration and completes such restoration within ninety (90) days after the date of Tenant's notice of termination, then Tenant's election to terminate the Lease shall be deemed rescinded and the Lease shall remain in full force and effect. In the event Landlord elects to restore the Facility as provided in the immediately preceding sentence, during the period from the date of Tenant's notice of termination through the date the restoration of the Facility is completed, the Base Rent shall be deemed to be zero and Tenant's payment of Rent shall consist only of the payment of Additional Rent in accordance accordmce with Section 9 of the Basic Lease Provisions and the Additional --------- Charges as required by the Detailed Lease Provisions.

Appears in 1 contract

Samples: Lease (National Golf Properties Inc)

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