Tenant’s Obligation to Rebuild. If the Premises are damaged or destroyed, Tenant shall immediately provide notice thereof to Landlord, and shall promptly thereafter deliver to Landlord Tenant's good faith estimate of the time it will take to repair and rebuild the Premises (the "Estimated Time For Repair"). Subject to the other provisions of this Section 21, Tenant shall promptly and diligently repair and rebuild the Premises in accordance with this Section 21 unless Landlord or Tenant terminates this Lease in accordance with Section 21.2.
Tenant’s Obligation to Rebuild. In the event of damage to, or destruction of, any improvements on the Premises, or of the fixtures and equipment therein, by fire or other casualty, Tenant shall promptly, at its expense, repair, restore or rebuild to the extent possible to the same design, plans and specifications as existed prior to the casualty. Rent shall not be reduced or abated during the period of such repair, restoration or rebuilding even if the improvements are not tenantable.
Tenant’s Obligation to Rebuild. Unless this Lease is terminated as aforesaid, Tenant shall, subject to the conditions and limitations set forth below, repair and restore the Premises as nearly as commercially reasonably possible to their value, condition and character immediately prior to such damage or destruction, with reasonable promptness subject to reasonable delays for insurance adjustments and delays caused by matters beyond Tenant’s reasonable control (and in no event shall Tenant have any liability to Landlord in the event such repairs and restoration shall take an excess of said twelve (12) month period, provided Tenant is proceeding with due diligence). Rent hereunder shall not xxxxx and Tenant shall remain liable for the payment of Rent and all real estate taxes and other Impositions payable by Tenant pursuant to Article IV above during the period of such restoration.
Tenant’s Obligation to Rebuild. Except in the event oftermination as permitted hereinafter in this Article XIV, Tenant shall repair and rebuild the Premises in the event of damage to or destruction of the Improvements during the Term of this Lease by fire, the elements, or other casualty. The proceeds of the insurance carried pursuant to Article 15 of this Lease entitled "Insurance" and any additional Tenant funds reasonably required by Landlord shall be paid into an escrow account with Landlord's first mortgage lender or a bank selected by Landlord and reasonably agreed to by Tenant. The insurance proceeds and other funds of Tenant shall be used by Tenant for the prompt reconstruction or repair, as the case may be, of the Improvements. Tenant shall rebuild or repair the same in such manner that the Improvements as so rebuilt or repaired shall be of the same or better quality and value as they were prior to such damage or destruction, and shall have same rebuilt or repaired and ready for occupancy within twelve (12) months from the time and loss or destruction occurred, subject to Force Majeure. If the insurance proceeds exceed the cost of repair or restoration, Tenant shall receive said excess upon completion of such repair or restoration.
Tenant’s Obligation to Rebuild. In the event of damage to, or destruction of, any improvements on the Leased Premises, or of the fixtures and equipment therein, by fire or other casualty, Tenant shall promptly, at its expense, repair, restore or rebuild the same to the condition existing prior to the happening of such fire or other casualty; provided, however, that if the damage or destruction is material and substantial, Landlord shall have the right, subject to the consent of any first mortgagee whose consent thereto is required, to terminate this Lease, effective on the date of such damage or destruction, by giving written notice thereof to Tenant within sixty (60) days after the event causing the damage or destruction. Rent shall not be reduced or abated during the period of such repair, restoration or rebuilding even if the improvements are not tenantable.
Tenant’s Obligation to Rebuild. If the Premises are damaged or destroyed, Tenant shall immediately provide notice thereof to Landlord, and shall promptly thereafter deliver to Landlord Tenant’s good faith estimate of the time it will take to repair and rebuild the Premises (“Tenant’s Estimate”). Within fifteen (15) days of Landlord’s receipt of Tenant’s Estimate, Landlord shall deliver written notice to Tenant of (a) Landlord’s approval of Tenant’s Estimate or (b) Landlord’s good faith objections to Tenant’s Estimate, a description of the grounds for such objections and Landlord’s alternative good faith estimate of the time to repair and rebuild the
Tenant’s Obligation to Rebuild. If this Lease is not terminated, Tenant shall, at its own cost and expense, repair and restore the entire Demised Premises, to the extent not repaired by Landlord, in accordance with the provisions of Section 3.04. Tenant shall commence the performance of its work when notified by Landlord that the work to be performed by Xxxxxxxx has proceeded to the point where the work to be performed by Tenant can, in accordance with good construction practices, then be commenced. Tenant shall perform such work in a manner that will restore the Demised Premises to its condition immediately prior to such occurrence.
Tenant’s Obligation to Rebuild. Provided that this Lease is not terminated pursuant Section 7.2 below, and subject to the terms and conditions of Section 7.3 below, in the event of damage to, or destruction of, any Improvements on the Leased Premises, or of the fixtures and equipment therein, by fire or other casualty, Tenant shall promptly, at its sole cost and expense, repair, restore or rebuild the same to the condition existing as of the
Tenant’s Obligation to Rebuild. Subject to sections 6.8 and 6.9, it is understood and agreed that in the event of damage or destruction as contemplated by this section, the Tenant shall at its sole expense at the request of the Landlord repair and rebuild that part of the Leased Premises in accordance with the provisions of the Tenant’s Work under Schedule “A” hereof with all due diligence.
Tenant’s Obligation to Rebuild. In the event of damage to or destruction of the Building or any other improvements at the Premises, or any part thereof, by fire or other casualty, Tenant will promptly give written notice thereof to Landlord. Tenant shall commence promptly to restore, repair, replace, or rebuild the Premises (the “Rebuilding”) as nearly as possible to its value, condition and character immediately prior to such damage or destruction, or with such changes or alterations as may be approved by Landlord, in Landlord’s reasonable discretion, and shall prosecute the rebuilding with reasonable diligence, unavoidable delays due to a Force Majeure excepted; provided however, in the event that three (3) years or less remains of the Lease Term (provided however that Tenant shall have the right to exercise any previously unexercised options with such option being included in the remaining lease term) and the cost of the Rebuilding is reasonably expected to exceed $1,500,000, Landlord or Tenant shall have the option to terminate this Lease, rather than proceed with a Rebuilding, and all insurance proceeds (except for insurance proceeds for Tenant’s personal property) resulting from such casualty shall be paid over to Landlord and Landlord shall have the right to adjust, compromise and settle any and all claims related thereto in its sole and absolute discretion without any liability to Tenant.
