Common use of Right to Adjust Clause in Contracts

Right to Adjust. (i) If any Leased Property is damaged or destroyed, in whole or in part, by fire or other casualty (a "Casualty"), Tenant shall give prompt written notice thereof to Landlord generally describing the nature and extent of such Casualty. Subject to Section 10.2(b), following the occurrence of a Casualty, Tenant, regardless of whether proceeds are available, shall in a reasonably prompt manner proceed to restore, repair, replace or rebuild the affected Leased Property to the extent practicable to be of at least equal value and of substantially the same character and quality as prior to the Casualty, all in accordance with the terms hereof applicable to Alterations.

Right to Adjust. (i) If any Leased one or more Mortgaged Property is damaged or destroyed, in whole or in partpart in any material respect, by fire or other casualty (a "Casualty"), Tenant the Borrower shall give prompt written notice thereof to Landlord the Administrative Agent, generally describing the nature and extent of such Casualty. Subject to Section 10.2(b), following Following the occurrence of a Casualty, Tenantthe Borrower, regardless of whether proceeds are available, shall in a reasonably prompt manner proceed to restore, repair, replace or rebuild the affected Leased Mortgaged Property to the extent practicable to be of at least equal value and of substantially the same character and quality as prior to the Casualty, all in accordance with the terms hereof applicable to Alterations.